Foundations of Entrepreneurial Leadership
description
Transcript of Foundations of Entrepreneurial Leadership
Foundations of Entrepreneurial
Leadership
Management Team and Operations
Class 10 – Management and Operations
MGT 190/290Prof Frey: [email protected]
Source: Derived from an original PPT by Dr. Susan G Duffy, Simmons College
Today:• Status update and impromptu quiz• Center Point leadership• Management and Ops • Prep: Mgt and Ops feas plan
Class 10 – Management and Operations
The Point System
Class 10 – Management and Operations - status
Feasibility Plan 500Written Plan - 300Presentation - 200
Class Participation (including attendance) 200Mentor Project 200Exercises 50Quizzes 50
1000
Book Review and Presentation 150Total Grad Points: 1150
Preview• April 2 - Speakers
– Mgt & ops due• April 9 – Harvest discussion
– Mentor interview due + milestone, harvest, exec summary draft
• April 16 – PRESENTATIONS (8) – Exec sum draft #2 due
• April 23 – PRESENTATIONS (8) – Feas Plan draft (total) due
• April 30 9-12 am – PRESENTATIONS (5) / Salon Series Mentor Breakfast– Mentor assmt due (Feas plan due by May 12 to
MGT 315)
Class 10 – Management and Operations - status
April 30 Agenda 9 am – 12 - status
• 9.00 - 9.30 – Coffee and networking
• 9.30 - 10.30 – Student Intro, Student pitches
• 10.30 - 11.30 – Student experience share– Intro, Speaker and Q&A: Hon Anita K Blair,
former Asst Secy of the Navy
• 11.30 - 12.00 – Networking (Mentor assmt turn in & Feedback
forms)
Highlight of topics covered to date:• Thinking entrepreneurially• Your personal strengths,
weaknesses• Your passions and interests• Reflections on female leaders• Ideas & myths about
entrepreneurship • PITCH & “PMP”• Your personal “pitch” – bio• Doing research• Networking• Negotiation• Communication • Financial Literacy labs
• Mentoring – your ideal• Mentoring – peer• Mentoring – outside of class
• Readings• Speakers
• Plan-Concept development• Plan-Industry context• Plan-Market and Competition• Plan-Financials• Grad students: Book Club
Class 10 – Management and Operations - Quiz
Communication and PITCH perfection1) Get into it (speak from personal vantage point). EXAMPLE
2) Speak authoritatively.
•Thinking entrepreneurially•Your personal strengths, weaknesses•Your passions and interests•Reflections on female leaders•Ideas & myths about entrepreneurship •PITCH & “PMP”•Your personal “pitch” – bio•Doing research•Networking•Negotiation•Communication •Financial Literacy labs
• Mentoring – your ideal• Mentoring – peer• Mentoring – outside of class
• Readings• Speakers
• Plan-Concept development• Plan-Industry context• Plan-Market and Competition• Plan-Financials• Grad students: Book Club
Class 10 – Management and Operations
Center Point leadership model discussion
• Challenging and Changing • Nurturing Trust • Collaborating to Achieve Results• Holding Boundaries with Flexibility • Encouraging Values and Action • Standing in My Authority• Embodying the Future
Class 10 – Management and Operations – Center Point
Today:• Management and Operations• Why is it important?
Kimberly and Jason case discussion
Class 10 – Management and Operations – Mgt & Ops
Anatomy of a Feasibility Plan
1. Executive Summary2. Concept
A. Value PropositionB. Value Model
3. Industry/Context4. Market
A. GeneralB. Specific
5. CompetitionA. Direct/indirect B. Strategic
Differentiation
6. Financial InformationA. Startup CostsB. Pro Forma Income
StatementsC. Balance Sheet
7. Sources of Funding8. Management Team
(incl. advisory board)9. Operations10.Milestones11. Harvest Strategy
EXECUTIVE SUMMARY
DUE IN NEXT CLASS - Mgt Team draft- Ops draft
You are here
Class 10 – Management and Operations
Management Plan • Team and Structure
– Management team and roles– List and backgrounds of advisors– List strategic alliances– Tip: Present team member bio.– Tip: Project needs for staff in the
future.– Tip: What function in the company will
they be handling?
Class 10 – Management and Operations
Operational Plan (see notes on blog)
• Business location – Tip: List advantages
• Product/Service Plan – Detailed description of product/service – Supplier/Manufacturing/Inventory
detail
Class 10 – Management and Operations
Operational Plan – Part 2 (see notes on blog)• Sales & Marketing Strategy
– Product • Example: Mature product • Example: New/introductory product
– Place • Tip: Sales strategy
– Price • Internal/Cost perspective • External/market perspective
– Promotion (continued….)
Class 10 – Management and Operations
What is promotion? (the 4th P) • Promotion
– Advertising
• Tip: Advertising value – Publicity
• Tip: Made you look! – Personal Selling
• Tip: Relationships
Class 10 – Management and Operations
• THINK AHEAD: Milestones– Major Year 1 Tasks and Future Goals– Tip: List dates and status too– Tip: Be as specific as possible
• THINK AHEAD: Harvest Strategy– Sale– IPO– Grow and hold?
Off-Line: Starting and Managing Ventures
• What is needed to What is needed to startstart a new a new venture:venture:
• Vision: Big Picture Focus
• Innovation: Creativity
• Passion• A Market Orientation• Tolerance for
ambiguity
• What is needed to What is needed to managemanage a new a new venture:venture:
• Attention to Detail• Delegation of Authority
and Responsibility• Leadership• Financial Skills• Tenacity, Follow
Through• Planning & Organizing • Establishing Controls
Off-line “Staffing for Strength”
Building a Winning Internal Team• Assess Your personal strengths and
weaknesses• Hire people who compliment your
weaknesses• Determine your venture’s short and
long-term goals and objectives• Develop a long term staffing plan
Off-line Feasibility: Operations
• Outline key operational issues• Hours of operation• Staffing• Physical Plant• Outsourcing
• Include diagrams, models, images – Help plan readers understand your
venture operations
Off-line Feasibility: Advisory Board
• Strategic choices• Expertise: legal, fiscal, industry/business• Access to Funding• Introduction to Networks• Profile/Public Relations
• List advisory board candidates• Who• Role: Value to venture
• Process for board communication• Formal and informal• Location and frequency of meetings
Off-line Feasibility: Strategic Alliances
• Banker, Capital Sources• Lawyer• Accountant• Key suppliers of your product• Business that compliments your
business• Small Business Internationally• Forming associations and cooperatives