Venture Life Cycle and Selection of the Corporate Entrepreneurial Team

At each stage of the corporate entrepreneurial venture’s life cycle, there may be a need to change the team and even the corporate entrepreneur leading the team. Some team members will want to develop the corporate entrepreneurial venture through the main stages; others will see it as an opportunity for promotion within the parent organization; others will want to start additional new corporate entrepreneurial ventures; and others will want to go back to their previous position. Each stage of the process requires different skills and experience.

 

• Conception and development. At this stage, the corporate entrepreneur needs to demonstrate drive, motivation, perseverance, resourcefulness, charisma, and the ability to communicate the opportunity to the team. This leader needs to be innovative, focused, and believe in the idea and the opportunities it can create and have the needed energy to complete the task.