Analyzing Challenges in Venture Creation: A Teamwork Perspective

This report explores the challenges organizations face during venture creation when relying on teamwork. It identifies three key areas of concern: coordination costs, motivation costs, and intellectual costs. Coordination costs involve the time and energy spent on scheduling, meetings, and decision-making within the team, potentially impacting creativity and integration. Motivation costs highlight the importance of engaging and motivating team members through clear objectives, team-building activities, and flexible work arrangements. Intellectual costs address factors that decrease creativity and productivity, such as team thinking, common information effect, and transparency illusion. The report concludes by emphasizing the importance of establishing trust, open communication, and proper delegation of authority to enhance group productivity and achieve organizational goals, suggesting strategies to mitigate these costs and improve team performance. Desklib provides solved assignments for students.

IDENTIFY OF THE
CHALLENGE IN
VENTURE
CREATION

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
Coordination costs.......................................................................................................................3
Motivation costs..........................................................................................................................4
Intellectual Costs.........................................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Organisation faces various struggle in a dynamic environment. To solve the problems the
organisation have more resources. There are many key challenges which is faced by organisation
while doing in team work. Team working means for achieving the objective to work with team.
It represents different benefits. In starting, to do work in team ensure that work is finished in
timely. It increases the creativity and innovation (Bruton and et.al, 2021). In this report common
challenges that might being faced during team work.
TASK
Group work means collaboration with other members to achieve the desire objective. It
represents different objective. There are three key challenges which are faced by organisation
while doing team work they are as follow:
1. Coordination costs
2. Motivation costs
3. Intellectual costs
Coordination costs
The coordination challenge is faced by team members. The team members use this cost
and achieving the objective. It shows time and energy that team work spends it does not include
the individual work. While working in the group there are certain factors which includes
coordinate schedules, arrange meetings and make decision in group members. To spent the time
in every task may not be important but they are significant. These cost can not be finished and
nor should they be. I have develop very important skill to manage the efforts of group team
members. The cost of coordination is very high but it does not include in the structure of team
assignments. If the team members forgot the timeline then their assignment is badly integrated
and reduces creativity (DeDominicis, 2022). This cost includes various impact on the venture
they are as follow:
1. Team size- In the group there should be more members so that more schedules to
accommodate, parts to hold and pieces to integrated. In small groups there are lower
costs. In my case I understand the perspective of performing different duties effectively.
In order to carry out the best results I have made the schedule through which the work

can be completed prior to time. This has create a positive effect on the new venture and
the success could be achieved in an effective manner.
2. Task freedom- The task members are interrelated at every stages tend to have more costs
than function that permit the group members to split and beat so that they cannot fulfill
the same partner goals. In order to achieve different goals I communicate with the team
effectively. In my case there is freedom which is given to the team members. This has
given a positive impact on our goals and objectives everyone is fulfilling the tasks in a
systematic manner.
3. Heterogeneity-The coordination costs increases due to heterogeneity especially when
problems come with language, to bridge the culture differences and collect the skills. The
most common principle is diversity of perspectives, this principles cannot be eliminated. I
have evaluated various costs which has been used in order to complete the necessary
tasks. There are multiple individuals which is been from different backgrounds. The main
focus is to collaborate with them to achieve the necessary goals and objectives.
In the future it will help to determine the authorities more effective and efficient in
allocation of resources. It will help to coordinating task among individual member and team
belongs to the important works of control organisation. I communicate with the team effectively
and use the Autocratic style to leadership to divide the duties and delegation of authorities. The
group team members support in various type so that upgrade the work in different style. Due to
coordination cost the team performs the work in badly manner. If group objectives are not
explain or communicate then it becomes struggle for the group as a unit. I have presented a road
map to manage the team. The road map helps to increase the productivity and complete the task
in timely. I have explain the objectives of team and increase team efficiency is to become a
group charter. The organisation should make a policy to reduce the coordination costs and
achieve the social objective of an enterprises (Guerrero and et.al, 2019). The following strategies
are help to decrease the coordination cost:
 The organisation should make a small group.
 Delegation proper authorities and roles in the group member.
 To decided the time for the team meetings.
 For delegation the works to used the group resumes or skills.
 To discuss the stages and tasks which are time consuming.

Motivation costs
To frame a brand in the dynamic environment there should be necessary to motivating
and engaging the workers. It is the top talent to retention the employees in the objective. It plays
an vital role in the group work. In my case I motivate the individuals and work as a team and use
different necessary method to motivate the employees such as increases the learning activity,
communication, enhance critical thinking and decision making skills. Before starting group work
I focus on making an effective plan which needs to be concise and clear through this goals could
be attained. There are many ways which are to implement in work and can motivate and provide
a better work environment (Hoang and et.al, 2020).
 Clearly define company objective-it is very important that goals of organisation and
individual work should be clearly define to the employees so that they will more
motivated to achieve it. In every February company decides the goals for keep the group
in the loop. I have understand the company objectives which they want to achieve in the
upcoming future. I have created a roadmap to achieve various goals and objectives. The
main focus is to enhance the overall of the company while indulging in the new ventures.
There are different details which needs to be studied popery in order to understand the
true vision of the company.
 Schedule team building activities- To motivate the employees it does not offer to salary
and vacation time but it should build the employees to work in a team to achieving the
desire goals. It is not better way then with group build activities. I have given certain
goals and objectives to build the team activities such as contributing in society or
charitable, better communication services, to develop group values and enhance the
activities to solve the problems (Martinez Dy, 2020). There are several ways the
motivation cost helps the employees in the future. I have also scheduled the team
meeting and every individual needs to come in this meeting to discuss the future of this
new venture. I take various suggestions form them in order to achieve different goals. I
motivate them in every manner to enhance their productivity. It is also beneficial for
them they could attain different skills and knowledge in an effective manner.
 Updated job titles
 To establish the flexible working arrangements
 Provides informal appraisals

 Enhance external training
There are some strategies which should be establish while doing team work. I have
motivated and communicated with the group team members. It provides the ideas, group
objective, informal mentoring and manage the employees. To achieving the desire goals of an
organisation and satisfy the customer need. I have been working in a coordinated manner with
HR teams and manager must develop the plan. New manager does not the motivate the
employees but the existing manager knows the worker life cycle in an organisation. Team work
success is more critical path as compare to individual success. I motivate the employees to do
work in efficiently manner and increase the performance level of employees. Ree riding
condition occurs when more than one team members leave the work for the intelligent team
members. If this condition does not addressed then it erodes the motivation of hard working
employees. To work in team it reduces the morale of employees. I have formulated multiple
strategies which could help to solve the problems both pre-existing and potential such as the
employees are frustrated while doing team works, define the expectation in better way for team
members by establish rules or using team contracts (Murphy and et.al, 2020).
Intellectual Costs
These cost is very important while doing team work. It means which decreases the
creativity and productivity of team members. These cost considered the following points:
1. Team thinking- To increases the people performance, there should be given training of
employees. There are various methods which are increases the learning such as virtual
programmes and face to face programmes. In my case while indulging in different
activities. I have taken the suggestions form the team while indulging in this new venture.
There are multiple challenges which has been faced by my team. I help them to overcome
different challenge. Through this we can move towards our goals.
2. Common information effect- It affects in group decision making that happens when team
share all the information to the group members. The strategies do not reduce the common
information effect that is when increases the size and volume of the information, high
level amount of discussion and increasing accountability of individual group members. In
order to solve the communication there is an effective chain which has been implemented
through this there is a proper communication which is been established to achieve great
results.

3. Transparency illusion- It focuses on the group team information and ignore the unique
information (Newth, 2018). I have formulated multiple strategies by evaluating all the
factors effectively. This helps to make a strategy which is suitable to achieve the desired
goals which is set by the management.
I have formulated these three strategies are followed which are decreases the intellectual
cost and increase the creativity and productivity of the team members:
 It focuses on the individual brainstorming rather than group brainstorming. It is also
known as nominal group technique. It ignores the team thinking and considered the ideas
of group team members. It helps me and my team to innovate new ideas to simply
achieve our goal.
 It increases the contribution of self evaluations and encourage the team members. By
applying this particular method. I can contribute to my team in better way.
 It creates the opportunities of students to reevaluate and revise their strategies.
While team members work in group it creates opportunities and losses both for the
organisation so that organisation should considered the areas which are helps to the growth of the
enterprises (Varvarousis and et.al, 2021). I have made continuos efforts to make the team
understand about the true objective of the project. There are multiple factors which has been
inherent effectively it is described below:
 Time duration
 Learning process skills
 Assessing the product and services
 Considered individual and group learning
 Proper information allocation to team members
CONCLUSION
In the above report discuss about how the employees work in team and achieving the
objective. The organisation faces three areas such as coordination cost, motivation cost and
Intellectual costs while doing team work. The organisation establishes strategies to motivate the
employees. It is very important to delegation proper authorities and work to employees so that
they understand the goals of an organisation. To establish the trust among the workers is

important for group productivity. To work in group there should be main focuses on the open
communication, it helps employees to decreases the productivity loss due to delays.

REFERENCES
Books and Journals
Bruton and et.al, 2021. Economic inequality–Is entrepreneurship the cause or the solution? A
review and research agenda for emerging economies. Journal of Business Venturing. 36(3).
p.106095.
DeDominicis, B.E., 2022. Global Interdependency and Strategic Neocorporatism: The Social
Identity Dynamics of Progressive Social Movements Utilizing International Sustainable
Development Regimes. International Journal of Climate Change: Impacts & Responses.
14(1).
Guerrero and et.al, 2019. A research agenda for entrepreneurship and innovation: the role of
entrepreneurial universities. A research agenda for entrepreneurship and innovation.
pp.107-133.
Hoang and et.al, 2020. Entrepreneurship education and entrepreneurial intentions of university
students in Vietnam: the mediating roles of self-efficacy and learning
orientation. Education+ Training.
Martinez Dy, A., 2020. Not all entrepreneurship is created equal: Theorising entrepreneurial
disadvantage through social positionality. European Management Review. 17(3). pp.687-
699.
Murphy and et.al, 2020. From principles to action: Community-based entrepreneurship in the
Toquaht Nation. Journal of Business Venturing. 35(6). p.106051.
Newth, J., 2018. “Hands-on” vs “arm’s length” entrepreneurship research: Using ethnography to
contextualize social innovation. International Journal of Entrepreneurial Behavior &
Research.
Varvarousis and et.al, 2021. Commons: A social outcome of the movement of the squares. Social
Movement Studies. 20(3). pp.292-311.