Teamwork in Entrepreneurship (Coursework Sample)

Teamwork in Entrepreneurship Name Institutional Affiliation Teamwork in Entrepreneurship 1. Why is team working important in Entrepreneurship? Entrepreneurship involves launching a new small business venture and managing it along with the various risks that are associated with businesses in their daily operation so as to make a profit. Eventual growth will lead to less individual control from all aspects of the company in order to give way to a team based type of setup. Teamwork in entrepreneurship will allow the business to grow further only if the team coordinates with each other to achieve an efficient and functioning body (Wehbe, 2017). Team work allows reduction of stress that would otherwise be experienced if someone was working alone. Working alone leads to increase of stress and also isolation which will reduce the chances of success in business operations. Team work helps minimize burn out among team members because tasks will be shared. Moreover, team work facilitates improved problem solving in small businesses. Tasks are solved faster when more people are involved in the process. Team members challenge and help each other to achieve a common goal which will improve the overall output of the firm. Efficiency is also an important aspect that will be improved when team work is incorporated in entrepreneurship. Teams are composed of individuals who have different skill sets and experiences that might make them suited to perform a task better that others. When team work is implemented in a business the chances of effectively delegating specific tasks to those qualified to handle them will increase the efficiency of the whole group. Team work is important for the growth of a small business. 2. Describe the aspects of team working you found previously (other modules) or are currently finding negative (or positive) in completing the team coursework for this module (you may comment on the Savvygoat App if you believe it be useful). Team work is an important aspect in campus life, especially in the courses that require team work in order to come up will a solution to a problem. My previous experience working in a team is a positive one because I got to experience first hand how people can collaborate and coordinate to achieve a common goal. I was able to see how an individual’s power is far less than that of a team which works as a unit. Through the team, I observed the benefits that a team could posses and the type of work that can be done. Team members usually have different skills which they offer to the group they are in so as to make solve a problem. These skills are properly utilized in the team when problems have been broken down to constituents which can be delegated to the team members according to their specific skill. Through the team, I also noticed how team members are a source of mutual support when the task is hard for a specific member. Members of a specific team usually support each other and help out those who have not made progress. This helps each member to move at the same pace which will increase the chances of accomplishing a task at the right time. Team work also made me realize how differing ideas can be used to formulate better working solutions. Differing ideas help teams solve problems faster than working alone. 3. Critically reflect on you current positive or negative team working experiences within this module (you may comment on the Savvygoat App as it is a tool aimed at improving teamwork). The positive experience I had working in a team in my previous experience showed me the numerous benefits that such an environment would have on my personal growth as well as other entrepreneurs who have adopted the setup in their working areas. Team work brings diversity to the table which is an important ingredient for solving problems that are encountered on a daily basis. The diversity of team members involves difference in skills, thoughts, ideas and values which are all integral in making up a mix that can challenge the business problems that they will encounter in their work. Diversity also makes delegation of responsibilities much easier because each member will have a task that suites their skills. This increases the chance of attaining the best possible business outcome as the resources brought by the team will be effectively used. Teamwork also gives oversight to the individual errors that might be made during the course of the problem solving challenge in the business field. Teams supervise more what each member is doing because their individual contribution will reflect the team’s overall project. This is why each member’s contribution is evaluated by their fellow members so as to avoid making errors which will minimize the chances for success. Furthermore, teamwork game me a sense of accomplishment that I had never felt before while working on my individual assignments. Such a feeling can lead to development of team members’ relationships with each other that will boost their interactions, hence improve productivity within the team. 4. After reflecting on your positive or negative team working experiences what new strategies did you develop (or not develop) or will you implement to get around...