Keywords: team building, creative product development, uncertainty, sense-making theory, entrepreneurial teams, sense-making activities, collective wisdom, creativity, technology innovation competition, entrepreneurship, business plans, Taiwan, teamwork
The innovation process of entrepreneurial teams in dynamic business plan competition: from sense-making perspective
Business plan competition held by universities and famous companies has become a phenomenon during the last decade in Taiwan. Students gain valuable experiences such as team-building, creative products development as well as the capabilities to tackle tremendous uncertainties from the environment. This study uses narrative approach to investigate the innovation process of entrepreneurial teams in dynamic business plan competition of their sense-making process. Three venture teams SimReal Company, Genie Biotech and Gene Vision of the third and the fourth Technology Innovation Competition (TIC100) in Taiwan were studied. Results indicate that sense-making activity is served as a critical process for team. It helps team to go through confused to comprehensive stage and to reach to a consensus that finally results in team's collective wisdom and creativity.