venture management and leadership
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Venture Management and Leadership. Basic Management Skills. Analytical Decision-making Communication Conceptual Team building . Decision-Making Skills. What is the difficulty in decision making in new companies? . Communication Skills. Elevator Pitch What is unique - PowerPoint PPT PresentationTRANSCRIPT
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Venture Management and Leadership
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Basic Management Skills Analytical Decision-making Communication Conceptual Team building
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Decision-Making Skills What is the difficulty in decision making in
new companies?
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Communication Skills Elevator Pitch
What is unique How can it be exciting Keep it simple Write it down – practice Practice Practice Practice
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Team Building Skills Team members vs Team players Tools for teams
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Leadership vs Management
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Effectiveness and EfficiencyLeaders
Doing Right Things
Ineffective EffectiveIn
effe
ctiv
eE
ffec
tive
Man
ager
s
Doi
ng T
hing
s R
ight
Death(fast)
Success
Death(slow)
Survival
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Innovation & Change Change
Alteration of status quo Innovation
new idea applied to initiating or improving a process Incremental Improvements (Kaizen) Breakthrough Thinking\
Characteristics Uncertainty Knowledge Intensive Controversial Crosses Organizational Boundaries
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Kaizen vs. Innovation Innovation
Western Management deals with innovation which deals with large, short-term changes
Innovative technologies are not magical cure Kaizen
Japanese philosophy which subsumes all business activities
small, frequent, gradual improvements over a long term use of statistically based tools for problem solving
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Class Exercise You are to work in teams of 3-5 and
identify some of the key changes occurring in industry. What are some of the external and internal forces motivating these changes?
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Class Exercise (Response)
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Forces for Change External Forces
demographics health consiousness affect on fast foods
Internal Forces quality improvement Tech Quality Plan
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Dysfunctional Consequences
Curtailed Innovation Scapegoating Resistance to Change Turnover Conflict
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Deming’s Seven Deadly Diseases
Lack of constancy of purpose Emphasis on short-term profits Evaluation of performance, merit rating, or annual
review of performance Mobility of management Running a company on visible figures alone Excessive medical costs for employee health care Excessive costs of warranty, fueled by lawyers who
work on the basis of contingency fees
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Products and Services 80% of new products fail during introduction Reasons for Success
Better understanding of customer needs More effective use of outside technology Top management support
Horizontal Linkage Model
Tech R&D Mrktng Customer
Production
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Time McKinsey & Co., 1990
6 months late, on budget 33% less profit On time, over budget 4% less profit
Thomas Group, Dallas Consulting 60-90% of Cycle time occurs outside of manuf.
Illinois Inst. Technology Blue collar productivity 80% White collar productivity 40%
Japanese Philosophy
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Time Automation Solid Modeling Capability Paperless Factory Process Documentation Streamline Communication Employee Empowerment Team-based Problem Solving Flexibility Training
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Case Study; General Elect. Problem: Speed up or die Solution:
6 plants 1 plant 28,000 parts 1,275 parts (40,000 options) Salesmen enter orders directly into PC
Results: 2 month backlog 2day backlog Delivery Time 3 weeks 3 days Manufacturing Costs 30% ROI = 20%
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Case Study; National Steel Problem: 85-86 losses of $148 million Solution:
Reduced Job Classifications to 16 Increased Worker responsibility
Cost: 320 hrs classroom training @ $21,000 / tech.
Result: 5.5 hrs/ton 4.5 hrs/ton failed specs 33% 88 profits of $55 million
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Case Study; Motorola Training:
Abolished ½ dozen pay categories Pay raise for each new skill added
Result: Defect rate 77%
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Benefits; Time Response Benefits Capture Market Share Define Market Premium Price Inventory Levels Quality Productivity Morale
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Strategy & Structure Structural (administrative) changes easier to
make in a mechanistic organization MBO TQM Re-engineering Systems Learning Organizations ABET
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Class Exercise You are to work in teams of 3-5. Suppose
your firm has decided to reorganize into smaller enterprise management teams. What are likely to be some of key areas of resistance (concerns) that must be overcome in order to implement this change?
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Class Exercise (Response)
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Resistance to Change Self-Interest Misunderstanding and lack of Trust Different Assessments of the virtues of change
Change must be in the right direction
for the right reasons
Low Tolerance for change
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Class Exercise You are to work in teams of 3-5. Suppose
your firm has decided to reorganize into smaller enterprise management teams. As a manager, how might you go about organizing for this change to overcome the inherent organizational resistance?
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Class Exercise (Response)
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Overcoming Resistance 3-Step Process (Kurt Lewin)
1. Unfreezing - awareness of need for change
2. Changing - focus on new behaviors
3. Refreezing - reinforcing new behaviors
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Unfreezing Education & Communication Participation & Involvement Facilitation & Support Negotiation & Agreement Manipulation & Co-optation Explicit & Implicit Coercion
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Managing Complex Change
ConfusionSkills Incentives Resources Action Plan
Change
Vision Incentives Resources Action Plan
Vision Skills Incentives Resources Action Plan
Vision Skills Resources Action Plan
Vision Skills Incentives Action Plan
Vision Skills Incentives Resources
Anxiety
GradualChange
Frustration
FalseStarts
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Challenges of Organizational Change
Commitment of Senior Leadership Written Description of Changed Organization Awareness of Need to Deal with Resistance Adequate Resources to Support Change Balance Between Managing Change / Stability Conviction that Change must be tried Appropriate Reward & Recognition System
Communicate, Communicate, Communicate
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Avoiding Disaster During Change
Involve People in Planning Changes Plan Change from Solid Conceptual Base Build Support Among Like-Minded People Don’t Ignore those Who Oppose Change Know the Territory Avoid Future Shock
Don’t Try to Mandate Change