Entrepreneurial Ecosystems in Unexpected Places by Veneta Andonova & Milena S. Nikolova & Dilyan Dimitrov

Author:Veneta Andonova & Milena S. Nikolova & Dilyan Dimitrov
Language: eng
Format: epub
ISBN: 9783319982199
Publisher: Springer International Publishing

We found that a strong identification with identity was present in the teams of new ventures as advanced by Fiol.93 Founders selected new team members, experienced some of them leaving, while others stayed despite not receiving payment for their input, thus shaping the organizational identity of the new venture. Arguably, internal cohesion builds on team members who share the same organizational identity and act accordingly; making sense of their behaviours can lead them to develop a strong sense of purpose. For instance, more than 50% of the founders of Grajdanite, a strong societal purpose-driven startup, left the venture because they were unable to forego their private economic interest. Nevertheless, sharing the same purpose resulted in a level of cohesion that helped the remaining founders maintain the connections with those who left, occasionally benefitting from their talent and time (a free resource).

These observed behaviours are consistent with the process of construction of long-term identity discussed by Gioia et al. (2000). Typically, team members compare the opportunities presented by early-stage ventures with their opportunity cost, taking into account the importance of organizational purpose when making this comparison. Alignment between the personal identity of the team members and the promise of the societal/environmental purpose can make the team more cohesive and less susceptible to changes in the external labour opportunities of team members.

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