Venture teams are not all equal in their ability to manage uncertainty. Outline those factors which you believe are most important in determining a team’s ability to manage the uncertainty in a high potential venture and to realise its full potential..
“The critical task of entrepreneurship lies in effectively managing the uncertainty inherent in trying something new” (Sull 2004). Venture teams are not all equal in their ability to manage uncertainty. Outline those factors which you believe are most important in determining a team’s ability to manage the uncertainty in a high potential venture and to realise its full potential. Be careful to explain why you think each factor is important and to substantiate your argument adequately.
You are encouraged wherever possible to position your discussion in the context of your own venture, whether already existing or still in concept form. If you have previous experience of the challenges you write about, please link the theories and frameworks discussed in this module to your experience. Be careful not to fall into the trap of simply extrapolating from, or relating, your own experiences without critically examining how they fit or don’t fit with what we have studied in this course. Also, feel free to link your discussion to how you intend to approach such challenges in the future (this is optional)—taking care, again, that you demonstrate critical thinking in how you link what you have studied to your intended future practice.