MG5592-MG5701

ENTREPRENEURSHIP
Lecture 5
Human and Social Capital

Dr Riccardo Nucci

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LECTURE PLAN - OUTCOMES
• Lecture: • Guest speaker:
• Introduce the topic of human • Mr. Sab Caziuc
and social capital for new • entrepreneur
venture. • sales
• fintech, oiltech,
• Describe the concept of new- agtech.
venture team. • low-code enthusiast
• Describe the various elements • Q&A session
of the new-venture team. • Ask questions related
to human and social
capital as described in
class

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human and social capital

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What is the difference between natural and social resources?

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What’s the different between a
pile of stones and a cathedral?

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 Human capital Social capital
• “related to individuals” • “related to relationships”
• Personal attributes of people” • Social network
• Knowledge • Social influence
• Experience • Charisma
• Skills • Leadership
• Know-how • popularity

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 7

“One Man Can Be A

Crucial Ingredient On A
Team, But One Man
Cannot Make A Team”

Kareem Abdul-Jabbar
NEW-VENTURE TEAM

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ELEMENTS OF NEW-VENTURE TEAM

Key
employees

Management Board of
team directors

Founder
or
founders

Other
Advisors
professional

Investors

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FOUNDER - FOUNDERS
• Founder VS co-founder.
• Personal characteristics.
• Size?
• Effective team characteristics.

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 ENTR TEAM DEVELOPMENT
Legal birth

• Research
commercia
Phase lisation
Phase Organisation Phase Proof of Phase Maturity
1 • Opportunit 2 in gestation 3 viability 4
y seeking

Vanaelst et al. (2006) MG5592 - Entrepreneurship 11

KEY EMPLOYEES
• Who are the key people?
• Recruiting key employees.
• Skills needed.
• Sources of labor.

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BOARD OF…
• Specific Expertise
• Panels of individuals that
oversee management.
• Inside and outside directors.
directors
• Formal ó informal
responsibilities.
• Few times a year.
• Non-monetary
compensations.
• Guidance, legitimacy.
Other • Support Areas: accounting,
advisors law, HR…
professionals

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INVESTORS

• Invest Money (vested interest)

• Highly involved (not only
financially).
• Bring legitimacy and
experience.
• Mentors for entrepreneurs.

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ADDITIONAL READING
• Blatt, R., 2009. Tough love: How communal schemas and contracting practices build relational capital in entrepreneurial teams.
Academy of management review, 34(3), pp.533-551.
• Vanaelst, I., Clarysse, B., Wright, M., Lockett, A., Moray, N. and S'Jegers, R., 2006. Entrepreneurial team development in
academic spinouts: An examination of team heterogeneity. Entrepreneurship Theory and Practice, 30(2), pp.249-271.
• Clarysse, B. and Moray, N., 2004. A process study of entrepreneurial team formation: the case of a research-based spin-off.
Journal of Business Venturing, 19(1), pp.55-79.
• Tsai, W. and Ghoshal, S., 1998. Social capital and value creation: The role of intrafirm networks. Academy of management
Journal, 41(4), pp.464-476.

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MG5592 - Entrepreneurship 16
Mr Sab Caziuc
Guest speaker

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Sab Caziuc
– Q&A

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