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

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Venture Management and Leadership

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Venture management and leadership

Venture Management and Leadership


Basic management skills

Basic Management Skills

  • Analytical

  • Decision-making

  • Communication

  • Conceptual

  • Team building


Decision making skills

Decision-Making Skills

  • What is the difficulty in decision making in new companies?


Communication skills

Communication Skills

  • Elevator Pitch

    • What is unique

    • How can it be exciting

    • Keep it simple

    • Write it down – practice

    • Practice

    • Practice

    • Practice


Team building skills

Team Building Skills

  • Team members vs Team players

  • Tools for teams


Leadership vs management

Leadership vs Management


Effectiveness and efficiency

Leaders

Doing Right Things

Ineffective

Effective

Death

(fast)

Success

Effective

Managers

Doing Things Right

Death

(slow)

Survival

Ineffective

Effectiveness and Efficiency


Innovation change

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


Kaizen vs innovation

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


Class exercise

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?


Class exercise response

Class Exercise (Response)


Forces for change

Forces for Change

  • External Forces

    • demographics

    • health consiousness affect on fast foods

  • Internal Forces

    • quality improvement

    • Tech Quality Plan


Dysfunctional consequences

Dysfunctional Consequences

  • Curtailed Innovation

  • Scapegoating

  • Resistance to Change

  • Turnover

  • Conflict


Deming s seven deadly diseases

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


Products and services

Tech

R&D

Mrktng

Customer

Production

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


Venture management and leadership

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


Venture management and leadership

Time

  • Automation

  • Solid Modeling Capability

  • Paperless Factory

  • Process Documentation

  • Streamline Communication

  • Employee Empowerment

  • Team-based Problem Solving

  • Flexibility

  • Training


Case study general elect

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%


Case study national steel

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


Case study motorola

Case Study; Motorola

  • Training:

    • Abolished ½ dozen pay categories

    • Pay raise for each new skill added

  • Result:

    • Defect rate 77%


Benefits time response

Benefits; Time Response

  • Benefits

  • Capture Market Share

  • Define Market

  • Premium Price

  • Inventory Levels

  • Quality

  • Productivity

  • Morale


Strategy structure

Strategy & Structure

  • Structural (administrative) changes easier to make in a mechanistic organization

  • MBO

  • TQM

  • Re-engineering

  • Systems

  • Learning Organizations

  • ABET


Class exercise1

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?


Class exercise response1

Class Exercise (Response)


Resistance to change

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


Class exercise2

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?


Class exercise response2

Class Exercise (Response)


Overcoming resistance

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


Unfreezing

Unfreezing

  • Education & Communication

  • Participation & Involvement

  • Facilitation & Support

  • Negotiation & Agreement

  • Manipulation & Co-optation

  • Explicit & Implicit Coercion


Managing complex change

Vision

Skills

Incentives

Resources

Action Plan

Skills

Incentives

Resources

Action Plan

Vision

Incentives

Resources

Action Plan

Vision

Skills

Resources

Action Plan

Vision

Skills

Incentives

ActionPlan

Vision

Skills

Incentives

Resources

Managing Complex Change

Change

Confusion

Anxiety

Gradual

Change

Frustration

False

Starts


Challenges of organizational change

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


Avoiding disaster during change

Don’t Try to Mandate Change

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


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