Challenges of new venture start-up leadership teams
One of the basic tenets of Conscious Capitalism in Conscious Leadership – “Human social organizations are created and guided by leaders – people who see a path and inspire others to travel along the path” (Conscious Capitalism, 2021, p 3). Achieving a high degree of competence in Conscious Leadership, you need to form a highly effective leadership team, not always an easy task. In your first week of simulation game play, you will concentrate on starting up your company and creating your leadership team. New ventures/start-ups can have a high failure rate for many reasons, some of which can be attributed to leadership team formation issues. (Henry 2017). For this discussion question you will:
Discuss the challenges faced by new venture/start-up leadership teams covering but not limited to; team formation, role definition, and conflict management and accountability processes.
Research best practices that can overcome these challenges. Cite at least three (3) of these best practices and talk about why these were of particular interest to you. You may also cite any experiences you have had with new venture team formation
Given that you will be working in a new venture/start-up team, which of these best practices will you be applying to the team formation? How will you incorporate these best practices into your leadership team formation?
