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The Entrepreneurial Manager Chapter 7

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Title: The Entrepreneurial Manager Chapter 7


1
The Entrepreneurial ManagerChapter 7
  • Dowling
  • BA 560
  • Fall Term 2006

2
The Entrepreneurial Manager
  • There are convergent pressures on being an
    entrepreneur and being a manager as a venture
    accelerates and grows beyond founder-driven
    survival. Key to future success is the ability of
    an entrepreneur to have or develop competencies
    as an entrepreneurial manager.

3
The Entrepreneurial Manager
  • Old CW A good entrepreneur
  • cant be a good manager.
  • New CW Ventures that flourish beyond
    startup can be headed by entrepreneurs
    who are also effective managers.

Unconventional Wisdom?
4
The Entrepreneurial Manager
  • Founders adapt for three key reasons
  • Shift from creation to exploitation
  • Shift from passionate commitment to dispassionate
    objectivity
  • Shift from direct personal control to indirect,
    impersonal control.

5
Stages of Growth
  • Startup Stage
  • From 2 to 7 years most perilous stage,
    characterized by efforts of lead entrepreneur.
  • High-Growth Stage
  • In this, perhaps the most challenging stage, new
    ventures fail at 60 rate. Lemons ripen.
  • Maturity Stage
  • Key issue is no longer survival. It is steady,
    profitable growth.

6
Stages of Growth
100 M 50 M 25M 3 M 1 M
Startup High Growth Maturity Stability
0 3-4 10 15 Time
(Years) Crucial Transitions Sales 0-3Million
2-10M 7.5M Employees 0 to 20-25 25-75
75-100 Management Mode Doing Managing
Managing Managers
7
The Entrepreneurial Manager
  • Entrepreneurial Culture
  • A common value system
  • Difficult to measure or articulate
  • Belief in and commitment to growth
  • Team feels theyre in this thing together
  • Goals and market determine priorities

8
The Entrepreneurial Manager
  • The Fit Concept
  • It is important to have a management team whose
    skills are complementary.

9
The Entrepreneurial Manager
  • Entrepreneurship Influence Skills
  • Leadership/vision/influence
  • Helping/coaching and conflict management
  • Teamwork and people management

10
Exhibit 7.1
11
Exhibit 7.2
12
Exhibit 7.3
13
Exhibit 7.4
14
Exhibit 7.5
15
Traits Characterizing Rapidly Growing Companies
  • High levels of change, ambiguity, and uncertainty
  • Ongoing succession of nonlinear and nonparametric
    events
  • Inexperience of management team
  • Counterintuitive, unconventional patterns of
    decision-making
  • Informality and fluidity of organization
    structure and procedure

16
Exhibit 7.6
17
Entrepreneurial Influence Skills
  • Interpersonal/teamwork skills
  • Ability to create, through management, a climate
    and spirit conducive to high performance
  • Ability to understand the relationships among
    tasks and between the leader and followers
  • Ability to lead in those situations where it is
    appropriate

18
Characteristics of Successful Managers
  • Managers skilled in leadership, vision, and
    influence
  • Skillful in creating clarity out of confusion,
    ambiguity, and uncertainty
  • Able to define adroitly and gain agreement on who
    has what responsibility and authority
  • Manage in a way that builds motivation and
    commitment to cross-departmental and corporate
    goals, not just parochial interests

19
Characteristics of Successful Managers
  • Managers skilled at helping, coaching, and
    conflict management
  • Creatively handle conflicts, generate consensus
    decisions, and share power and information
  • Recognize that high-quality decisions require a
    rapid flow of information in all directions
  • Accept that knowledge, competence, logic, and
    evidence need to prevail over official status or
    formal rank in organization

20
Characteristics of Successful Managers
  • Managers skilled at teamwork and people
    management
  • Encourage innovation and calculated risk rather
    than by punishing or criticizing whatever is less
    than perfect
  • Expect and encourage others to find and correct
    their own errors and to solve their own problems
  • Make heroes out of other team members and
    contributors
  • Generate trust among colleges and subordinates
  • Perceived as honest and direct, open and
    spontaneous

21
Other Management Competencies
  • Marketing
  • Market research and evaluation
  • Marketing planning
  • Product pricing
  • Sales management
  • Direct selling
  • Service management
  • Distribution management
  • Product management
  • New product planning

22
Other Management Competencies
  • Operations/Production
  • Manufacturing management
  • Inventory control
  • Cost analysis and control
  • Quality control
  • Production scheduling and flow
  • Purchasing
  • Job evaluation

23
Other Management Competencies
  • Finance
  • Raising capital
  • Managing cash flow
  • Credit and collection management
  • Short-term financing alternatives
  • Public and private offerings
  • Bookkeeping, accounting, and control
  • Other specific skills

24
Other Management Competencies
  • Entrepreneurial Management
  • Problem solving
  • Communications
  • Planning
  • Decision-making
  • Project management
  • Negotiating
  • Managing outside professionals
  • Personnel administration

25
Other Management Competencies
  • Law and Taxes
  • Corporate and securities law
  • Contract law
  • Law relating to patent and proprietary rights
  • Tax law
  • Real estate law
  • Bankruptcy law

26
Other Management Competencies
  • Information Technology
  • Information and management systems tools.
  • Business to business, business to consumer,
    business to government, all via the Internet
  • Sales, marketing, manufacturing, and
    merchandising tools.
  • Financial, accounting, and risk analysis and
    management tools.
  • Telecommunications and wireless solutions for
    corporate information, data, and process
    management.
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