Team Charters and Systematic Search: A Prescription for Corporate Entrepreneurship

Research suggests that teams must focus on both team work and task work to be effective. Most studies on team productivity center on the team's makeup and leadership without guidance on process or task. Here, the concepts of Team Charters (teamwork) and Systematic Search (taskwork) are introduced, developed and integrated to enhance the probability of success in the domain of corporate entrepreneurship. This integration of charters and search is augmented by a valuation framework that permits assessment of an entrepreneurial idea's potential for commercial success. This framework evaluates the idea's fit, value, rarity, and inimitability. Finally, an integrative task is proposed to assess achievement of milestones as an idea progresses toward market. The integrative task captures the idea's Product, Market, and Technology Statement, a cursory industry analysis, and screening tools used to assess the viability of an idea. together, these concepts have the potential to add significant value to the processes and performance of teams engaged in any form of corporate entrepreneurship.