COMM 320 Chapter Notes - Chapter 9: Startup Company, Linkedin, Pattern Recognition
23 Oct 2016
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New venture team: is the group of founders, key employees, and advisors that move a new venture from an idea to a fully functioning firm. Usually, the team doesn"t come together all at once. )nstead, it is built as the new firm the people involved can"t adjust fast enough to their new roles and because the firm can afford to hire additional personnel. The team also involves more than paid employees. Many firms have boards of directors, boards of advisors, and professionals on whom they rely for direction and advice. New ventures have a high propensity to fail. The high failure rate is due in part to liabilities of newness, which refers to the fact that new companies often falter because. Assembling a talented and experienced management team is one path that firms lacks a track record of success. can take to overcome these limitations.
