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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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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



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?



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


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


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?



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?



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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