ACCTG 1 Lecture Notes - Lecture 12: Homophily, Social Psychology, Average Path Length
Document Summary
How social networks affect entrepreneurial team formation and search. Three models of network formation: random, small world, and truncated scale free. Two models of team formation: rational process model and interpersonal relations model. Granovetter"s the strength of weak ties" posted the question of the extent to which people"s locations in social structures enables them to escape the constraints of their social origins. Aldrich and zimmer argued in 1986 that putting entrepreneurial intentions into action requires that entrepreneurs establish connections with others who control resources. Social networks in the startup process: new ventures derive many instrumental and social-psychological benefits from teams. Rational process model: emphasizes selecting team members based on pragmatic instrumental criteria, such as complementary skills or work experiences. Social psychological model: emphasizes selecting team members based on the interpersonal fit between team members. The expansion of roles that require flexibility, skill, and adaptability advantages some individuals while disadvantaging others.
