Building, Managing, and Motivating Great Teams

Arthur A. Boni, Laurie R. Weingart, Gergana Todorova

Research output: Chapter in Book/Report/Conference proceedingChapter

2 Scopus citations

Abstract

While technology and market traction are essential to any successful biotechnology organization, the importance of the team cannot be overemphasized. Without an effective team, most companies will not achieve their potential, or will fail. The entrepreneurial leadership team needs to have an understanding that building and sustaining an entrepreneurial culture is what differentiates and sustains successful organizations. The leadership must also be sure to recognize and reward team (and partner) contributions to company value creation, and to incorporate mechanisms and processes to encourage employees to "own" and identify with their organization. Employee ownership includes both equity participation and psychological ownership and identification with the enterprise. Emerging collaborative-networked partnerships in the biopharmaceutical industry incorporate teams that must be constructed and managed to perform effectively across the entire biotechnology value chain including geographically dispersed team members and partners. These new organizations are presented with challenges regarding team development, management, and performance. This chapter covers the topic of building and growing collaborative, interdisciplinary teams that identify and commercialize promising biotechnology innovations, and grow successful companies.

Original languageEnglish (US)
Title of host publicationBiotechnology Entrepreneurship
Subtitle of host publicationStarting, Managing, and Leading Biotech Companies
PublisherElsevier Inc.
Pages83-97
Number of pages15
ISBN (Print)9780124047303
DOIs
StatePublished - May 2014

Keywords

  • Building and growing organizations
  • Employee ownership
  • Entrepreneurial teams
  • Interdisciplinary collaboration
  • Open-innovation networks
  • Organizational culture
  • Psychological ownership
  • Team motivation

ASJC Scopus subject areas

  • Biochemistry, Genetics and Molecular Biology(all)

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  • Cite this

    Boni, A. A., Weingart, L. R., & Todorova, G. (2014). Building, Managing, and Motivating Great Teams. In Biotechnology Entrepreneurship: Starting, Managing, and Leading Biotech Companies (pp. 83-97). Elsevier Inc.. https://doi.org/10.1016/B978-0-12-404730-3.00007-5