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Management Plan

Management Plan. Management team: Who is going to do what? Why you? Organizational design: Hiring, outsourcing, partnerships Legal form: Pick one and give reasons for it So not spend a whole lot of time justifying your decision

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Management Plan

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  1. Management Plan • Management team: • Who is going to do what? Why you? • Organizational design: Hiring, outsourcing, partnerships • Legal form: • Pick one and give reasons for it • So not spend a whole lot of time justifying your decision • Board of advisors/directors: Who? How are they going to complement your shortcomings?

  2. Management Plan Structure • List names of key founders and employees • Be realistic – no bull! • No need to list everyone’s name – less is more • A board of advisors • Feedback on plans • Signal that your idea is good • Plans for key hires • Who you need, when you need them and why • Be specific

  3. Who should be on the internal team? • If you could have anyone on your team, who would it be? • Benefits/Costs Depend on the team process • Demography, function, goals, beliefs, attitudes, status, location (in a network) • Information processing – Functional variety, yet sufficient overlap in understanding to transfer and retain knowledge • Conflict – potential faultlines (when team sub-groups share several characteristics) • Prior knowledge  opportunity discovery

  4. Story Time • My best team experience was …. • My worst team experience was… • Someone who helped me most professionally was…

  5. Various definitions of diversity Harrison & Klein, What’s the Diffeence? Diversity Constructs as Separation, Variety, or Disparity in Organizations, AMR, 2007.

  6. Various definitions of diversity 2 Harrison & Klein, What’s the Diffeence? Diversity Constructs as Separation, Variety, or Disparity in Organizations, AMR, 2007.

  7. Organizational design • Do you have all the pieces you need? charts help • Who’s doing what? Who knows what? • Do you need to hire? What matters? • Knowledge, commitment, attitude? • Outsourcing/Partnerships: What characteristics matter • What’s your culture (not only design but policies)? • Rewards and incentive structure • How are new ideas, trial and error encouraged? • Psychological safety • Shared commitment to goal and group pride • What type of failures are allowed? Kozlowski & Ilgen, 2006 – Enhancing the Effectiveness of Work Groups and Teams

  8. Key Takeaways • Key Takeaways: • Match right people with specific needs • Ongoing: • Intellectual Property, Legal • Review Intro to Financials Slides • Continuation of Intellectual Property • Watch Startup Financials Videos • Financials part 2

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