The trigger 3 is about value chain. To analyze the specific activities through which firms can
create a competitive advantage, it is useful to model the firm as a chain of
value-creating activities.
Primary Value Chain Activities according to Michael Porter (2017):
When the company grows, it is important to have right people in right places in value chain. We defined this as our problem. It is necessary that the employees have clear roles when there are more tasks and more employees in a company.
Any or all of these primary activities may be vital in developing competitive advantage. In addition to primary activities, there are support activities which are also crucial. These are: procurement, techonology development, human resource management and firm infrastructure which includes finance, legal, quality management etc.
Learning objectives:
1. Team building in startups
In order to have right people in right places in value chain, there are several things a (startup) company need to consider when building a team. According to Patrick Henry (2017), there are seven key components when building a winning startup team:
1. In a team, everyone is in the same boat, rowing in the same direction, except for the signal caller, who is looking forward. That person is the guide. He or she sets the direction and course-corrects, if necessary.
2. People on a team may play different roles, but they all have the same goal -- to win. If the company doesn’t have a clearly set direction and aren’t measuring progress along the way, there are a lot of mistakes that it can make. It can waste time and money. Worst case, it can fail as a business.
3. Good work ethic is necessary. Hard work in a startup requires commitment to a vision and passion.
4. The best teams have a collaborative approach. The leader sets the direction, but relies on the team to execute. The leader talks to the team and teammates talk to each other.
5. In a startup, company culture has to be defined early on. Roles and responsibilities have to be defined, as well as the right skills and abilities that fit those roles. Smart CEO hires more talented and smarter people than he/she is.
6. A huge part of leadership is about setting a vision and communicating the end result so people can see it, feel it and taste it. Clearly defined goals and milestones need to be set and communicate so that everyone in the company can feel like they’re winning as the company is winning.
7. In the startups, there is a lot of uncertainty and ambiguity. Then a game management approach may help. Sometimes the plan must be adjusted and adapted to the real-time circumstances that are going on. Good leaders know how to do that.
2. Team leading process
As a leader, you need to aim high, inspire the team members and make them understand how their contribution fits into the big picture. You need to put in a lot of hard work and adjust as necessary. And remember to celebrate the milestones with your team along the way. (Henry 2017.)
When the company grows, a totally flat organisation structure might be hard to maintain. So the option might be traditional hierarchy but in a growing startup more possible option could be a "flatter" structure that seeks to open up the lines of communication and collaboration while removing layers within the organisation. For larger organisations this is the most practical, scalable, and logical approach to deploy across an entire company.
Another suitable structure for a startup is a flatarchy which lies between hierarchies and flat organizations. These types of companies are a little bit of both structures. They can be more hierarchical and then have ad-hoc teams for flat structures or they can have flat structures and form ad-hoc teams that are more structured in nature. Organizations with this type of structure are very dynamic in nature and can be thought of a bit more like an amoeba without a constant structure. The most common type of example with this structure is a company with an internal incubator or innovation program. In this type of an environment the company operates within an existing structure but usually allows employees to suggest and then run with new ideas. This model is quite powerful yet also more disruptive than the other structures. The main benefit here is the focus on innovation which is quite a strong competitive advantage in the future of work.
For smaller or medium size organizations, yet one option is holacratic organisation structure. The basic goal with this structure is to allow for distributed decision making while giving everyone the opportunity to work on what they do best. There is still some form of structure and hierarchy but it's not based on people as much as it based on circles or what most people would think of as departments. Information is openly accessible and issues are processed within the organization during special and ongoing meetings. (Morgan 2015.)
According to Kevin Gibbons (2015), leading a small but effective team requires these:
1. Create an inspiring working environment.
2. Foster a strong company culture.
3. Help your team keep a clear mind and focus.
4. Invest in learning.
5. Support innovation.
6. Treat your people right. Encourage your team members to have lives outside of work.
7. Have fun. Celebrate successes and arrange fun activities as a team.
Sources:
Henry, P. 2017. 7 Keys to Building a Winning Startup Team. https://www.entrepreneur.com/article/290811. Accessed: 9.10.2017
Gibbons, K. 2015. 10 Steps To Lead A Small But Effective Team. https://www.fastcompany.com/3047244/10-steps-to-lead-a-small-but-effective-team. Accessed: 9.10.2017
Morgan, J. 2015. The 5 Types Of Organizational Structures. https://www.forbes.com/sites/jacobmorgan/2015/07/06/the-5-types-of-organizational-structures-part-1-the-hierarchy/#51ade7585252.
Accessed: 9.10.2017
Porter, M. 2017. The Value Chain. http://www.quickmba.com/strategy/value-chain/. Accessed: 9.10.2017
Primary Value Chain Activities according to Michael Porter (2017):
Inbound Logistics > Operations > Outbound Logistics > Marketing & Sales > Service
When the company grows, it is important to have right people in right places in value chain. We defined this as our problem. It is necessary that the employees have clear roles when there are more tasks and more employees in a company.
Any or all of these primary activities may be vital in developing competitive advantage. In addition to primary activities, there are support activities which are also crucial. These are: procurement, techonology development, human resource management and firm infrastructure which includes finance, legal, quality management etc.
Learning objectives:
1. Team building in startups
In order to have right people in right places in value chain, there are several things a (startup) company need to consider when building a team. According to Patrick Henry (2017), there are seven key components when building a winning startup team:
1. In a team, everyone is in the same boat, rowing in the same direction, except for the signal caller, who is looking forward. That person is the guide. He or she sets the direction and course-corrects, if necessary.
2. People on a team may play different roles, but they all have the same goal -- to win. If the company doesn’t have a clearly set direction and aren’t measuring progress along the way, there are a lot of mistakes that it can make. It can waste time and money. Worst case, it can fail as a business.
3. Good work ethic is necessary. Hard work in a startup requires commitment to a vision and passion.
4. The best teams have a collaborative approach. The leader sets the direction, but relies on the team to execute. The leader talks to the team and teammates talk to each other.
5. In a startup, company culture has to be defined early on. Roles and responsibilities have to be defined, as well as the right skills and abilities that fit those roles. Smart CEO hires more talented and smarter people than he/she is.
6. A huge part of leadership is about setting a vision and communicating the end result so people can see it, feel it and taste it. Clearly defined goals and milestones need to be set and communicate so that everyone in the company can feel like they’re winning as the company is winning.
7. In the startups, there is a lot of uncertainty and ambiguity. Then a game management approach may help. Sometimes the plan must be adjusted and adapted to the real-time circumstances that are going on. Good leaders know how to do that.
2. Team leading process
As a leader, you need to aim high, inspire the team members and make them understand how their contribution fits into the big picture. You need to put in a lot of hard work and adjust as necessary. And remember to celebrate the milestones with your team along the way. (Henry 2017.)
When the company grows, a totally flat organisation structure might be hard to maintain. So the option might be traditional hierarchy but in a growing startup more possible option could be a "flatter" structure that seeks to open up the lines of communication and collaboration while removing layers within the organisation. For larger organisations this is the most practical, scalable, and logical approach to deploy across an entire company.
Another suitable structure for a startup is a flatarchy which lies between hierarchies and flat organizations. These types of companies are a little bit of both structures. They can be more hierarchical and then have ad-hoc teams for flat structures or they can have flat structures and form ad-hoc teams that are more structured in nature. Organizations with this type of structure are very dynamic in nature and can be thought of a bit more like an amoeba without a constant structure. The most common type of example with this structure is a company with an internal incubator or innovation program. In this type of an environment the company operates within an existing structure but usually allows employees to suggest and then run with new ideas. This model is quite powerful yet also more disruptive than the other structures. The main benefit here is the focus on innovation which is quite a strong competitive advantage in the future of work.
For smaller or medium size organizations, yet one option is holacratic organisation structure. The basic goal with this structure is to allow for distributed decision making while giving everyone the opportunity to work on what they do best. There is still some form of structure and hierarchy but it's not based on people as much as it based on circles or what most people would think of as departments. Information is openly accessible and issues are processed within the organization during special and ongoing meetings. (Morgan 2015.)
According to Kevin Gibbons (2015), leading a small but effective team requires these:
1. Create an inspiring working environment.
2. Foster a strong company culture.
3. Help your team keep a clear mind and focus.
4. Invest in learning.
5. Support innovation.
6. Treat your people right. Encourage your team members to have lives outside of work.
7. Have fun. Celebrate successes and arrange fun activities as a team.
Sources:
Henry, P. 2017. 7 Keys to Building a Winning Startup Team. https://www.entrepreneur.com/article/290811. Accessed: 9.10.2017
Gibbons, K. 2015. 10 Steps To Lead A Small But Effective Team. https://www.fastcompany.com/3047244/10-steps-to-lead-a-small-but-effective-team. Accessed: 9.10.2017
Morgan, J. 2015. The 5 Types Of Organizational Structures. https://www.forbes.com/sites/jacobmorgan/2015/07/06/the-5-types-of-organizational-structures-part-1-the-hierarchy/#51ade7585252.
Accessed: 9.10.2017
Porter, M. 2017. The Value Chain. http://www.quickmba.com/strategy/value-chain/. Accessed: 9.10.2017
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