The Research On The Generation Of Entrepreneurial Team Dynamic Capabilities And Its Impact On New Venture Performance

With the continuous optimization of entrepreneurial environment and policies,China has become one of the countries with the highest innovation and entrepreneurship vitality in the world.However,due to the Liabilities of Newness,the success rate of entrepreneurship is still very low,and more than half of the start-ups fail in five years.How to break through the double constraints of resources and opportunities in the current rapidly changing and uncertain environment,and achieve success,has become a key problem to be solved by the academia and practitioners.As the core unit of a new venture,the generation and application of entrepreneurial team’s dynamic capability is an important source of its competitive advantage.However,most of the existing research on dynamic capabilities mainly focus on how the traditional dynamic capabilities at the enterprise level affect the enterprise performance and competitive advantage from the perspective of mature companies,and there has been lack of research on the dynamic capabilities at the individual and team levels,especially the entrepreneurial teams of start-ups.Therefore,the definition,the integrated framework,the generation mechanism and performance impact mechanism of entrepreneurial team dynamic capabilities become the key research issues in the field of strategic entrepreneurship.In view of the above theoretical and practical needs,based on the entrepreneurial team context,this study takes the generation of entrepreneurial team dynamic capabilities and its impact on entrepreneurial performance as the theme.Firstly,the theoretical analysis of entrepreneurial team’s dynamic capabilities is carried out through the systematic review method,and an integrated theoretical framework is constructed to explain the influencing factors and action process,the mediation and impact of entrepreneurial team dynamic capabilities.Then,combined with case study and questionnaire survey,this paper discusses the generation mechanism of entrepreneurial team dynamic capabilities.Finally,in order to reveal the mechanism of the impact of entrepreneurial team dynamic capabilities on entrepreneurial performance,this paper collects first-hand data through questionnaire survey,and uses statistical empirical analysis method to deeply explore the mechanism of the impact of entrepreneurial team dynamic capabilities on entrepreneurial performance.The specific research contents include:(1)The theoretical analysis of entrepreneurial team dynamic capabilities generation.Based on the resource-based view,capability theory and social cognitive theory,this paper analyses the theoretical basis of entrepreneurial team dynamic capabilities,and defines the connotation and dimension of entrepreneurial team dynamic capabilities from the perspective of resource view,process view and capabilities by combing the relevant literature and the concepts of cognitive capability,entrepreneurial capability and dynamic capability.From the individual,team and other aspects,this paper sorts out the influencing factors of entrepreneurial team dynamic capabilities,and discusses its function process,so as to construct the theoretical integration framework of entrepreneurial team dynamic capabilities.(2)The case study of entrepreneurial team dynamic capabilities.Through the longitudinal case analysis of zhubajie.com,this paper refines the theoretical model of entrepreneurial team cognition promoting the formation of dynamic capabilities from the perspective of cognitive interaction and value co-creation of entrepreneurial team knowledge management.The results of the case study show that the entrepreneurial team dynamic capabilities generation process of the entrepreneurial team is a process driven by the entrepreneurial team cognition,and follows the explanation logic of "team cognition-value co-creation-dynamic ability".The entrepreneurial team focuses on the development of opportunity identification,coordination and integration,restructuring and transformation capabilities in different stages of entrepreneurship,and then constructs entrepreneurial team dynamic capabilities.(3)An empirical study on the generation of entrepreneurial team dynamic capabilities.Based on the image theory and entrepreneurial alertness theory,this paper proposes and tests the model of entrepreneurial team dynamic capabilities generation mechanism promoted by perceived environmental uncertainty,explores the intermediary mechanism between perceived environmental uncertainty and entrepreneurial team dynamic capabilities,and further verifies the entrepreneurial team dynamic capabilities generation mechanism of "cognition-action-result" logic.The empirical results show that different dimensions of entrepreneurial team’s perceived environmental uncertainty insight have a significant positive impact on entrepreneurial team dynamic capabilities,and innovation behavior plays a partial mediating role between perceived environmental uncertainty and entrepreneurial team dynamic capabilities.(4)The impact of entrepreneurial team dynamic capabilities on entrepreneurial performance.By proposing and verifying the chain mediating effect model of entrepreneurial team dynamic capabilities on entrepreneurial performance,this paper discusses the impact mechanism of entrepreneurial team dynamic capabilities and entrepreneurial orientation on entrepreneurial performance.The empirical results based on questionnaire analysis show that: entrepreneurial team dynamic capabilities can have a positive impact on entrepreneurial performance;team attitude towards risk partially mediates the relationship between entrepreneurial team dynamic capabilities and entrepreneurial performance;entrepreneurial behavior plays a complete mediating role between entrepreneurial team dynamic capabilities and entrepreneurial performance;entrepreneurial team dynamic capabilities has a direct and indirect positive impact on entrepreneurial performance through the chain mediating effect of managerial attitude towards risk and entrepreneurial behavior.Finally,based on the conclusion of qualitative research and quantitative research,this paper puts forward management suggestions from the three levels of start-ups,entrepreneurial teams and entrepreneurs,which provides strategic reference for startups to develop and use entrepreneurial team dynamic capabilities to improve entrepreneurial performance,sumarizes the limitations of this study,and puts forward future research directions.The main contributions of this paper are: provides the theoretical analysis and conceptual definition of entrepreneurial team dynamic capabilities;constructs a theoretical integration model to explain the influencing factors and the process of entrepreneurial team dynamic capabilities;test the theoretical model of entrepreneurial team dynamic capability generation through case study and empirical analysis;reveals the influence mechanism of entrepreneurial team dynamic capabilities on entrepreneurial performance from the perspective of planned behavior.