What Can We Learn From Randy Hess?Top Ten Elements of High-Tech E-shipFrom General Management to True Entrepreneurial LeadershipWhat Can We Learn From Randy Hess?1. Incremental rationalization: From role play #1 to #2, we tried to create a series of incremental commitments that would eventually lead Randy to back the MicroNet deal. Questionable steps can lead to undesired results; there are many slippery slopes in new ventures and deals.2. Forces of influence: Cialdini’s theory highlights what people have used for centuries for both good and bad. Good people are susceptible to bad circumstances.3. Distinction between ethics and integrity: Like execution of a strategy, a key success factor is to put a moral code (ethics) into action (integrity) as part of our daily lives.Reference: Jim Collins, Randy Hess, Stanford University.Top Ten Elements of High-Tech E-ship1. What is high-technology entrepreneurship?2. Why must dynamic leaders understand vision, strategy, risk, and tactics?3. How does context (e.g. economic and political climate) play a role in high-tech entrepreneurship?4. Why is market positioning important?5. What is the purpose of the business plan?6. Why is cash flow so vital?7. What are the different sources of capital for high-tech ventures?8. Why is high-tech entrepreneurship a team sport?9. Why are sales and business development skills so valuable?10. What is the role of entrepreneurial ethics?Byers, http://www.stanford.edu/dept/MSandE/people/faculty/byers/TopTenEshipLessons.pdfFrom General Management to True Entrepreneurial Leadership1980s/1990s:•Craft Strategic Vision•Marshal Resources•Shape Work Environment•Develop Star Performers•Tune Organization•Supervise OperationsToday:•From Manager to Leader•Tangible Vision that is Real and Useful•Develop a Team, not a Group•Constructive Conflict•Strong Mutual Influence, not Coercion•Culture of ExperimentationReferences: Pearson, HBR, July-August, 1989 and Bradford and Cohen, Power Up: Transforming Organizations through Shared Leadership,
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