Foundations of Entrepreneurial

Leadership

Management Team and Operations

Class 10 – Management and Operations

MGT 190/290Prof Frey: Frey@gwu.edu

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