Scenario 622

Name:

Scenario 6.2.2Run KC - Identifying Management’s Strengths

Learning Objective

To identify the strengths of the management team and their responsibilities within the business.

Overview

Having the right management team is key. The management team directs the company by making decisions about how to sell products/services, improve profitability, and expand into new markets. For many start-up businesses, the entrepreneur is the management. For others, a team of individuals is brought together to provide direction for the company. In either situation, it is important to look at the skills and experience each member of the management team brings to the business and determine if they have what it takes, individually or collectively (in the case of a management team), to lead the company.

Scenario

In the business Run KC, Tim Clark will be the entire management “team” during the early years of the business. Think about what the management responsibilities would be for a specialty running shoe store. List those responsibilities below.

Position(s): Store owner/manager – specialty running shoe store

Responsibilities:

Reference the Entrepreneurs’ Application completed by Tim. Which aspects of his background and experience qualify Tim to manage this business?

© 2012 Ewing Marion Kauffman Foundation. All Rights Reserved. Planning the Entrepreneurial Venture Scenario 6.2.2 Page 1 of 4

What experience and qualifications should he look for in future management candidates?


ENTREPRENEUREmployment Application

APPLICANT INFORMATION

Last Name Clark First Tim M.I. W Date 9/20/xx

City Leawood State KS ZIP 66224

Phone 913-321-4567 E-mail Address [email protected] Applied for Entrepreneur/Business Owner Type of Business Specialty Running Shoe Store

EDUCATION

High School South High School Address Podunk, Missouri

From 1992 To 1996 Did you graduate? YES NO Degree

College Beantown College Address Boston, MA

From 1996 To 2000 Did you graduate? YES NO Degree Bachelor of Arts - AccountingOther Address

From To Did you graduate? YES NO Degree

PREVIOUS EMPLOYMENTCOMPANY RUNNER’S RESOURCE RUNNING STORE

Address Boston MA From January 2005 To Present

Job Title Shoe/Inventory Manager

Responsibilities

Track sales and inventory; order merchandise; plan product mix; analyze sales

Skills used/gained Goal setting; tracking; analysis; communication; event management

Accomplishments

Designed and implemented new inventory tracking system; streamlined process for special order merchandising resulting in decreased shipping costs; decreased clearance inventory; developed increasingly profitable product mix by analyzing sales


PREVIOUS EMPLOYMENTCOMPANY TBJ GROUP, LTD

Address Boston, MA From Jan 2000 To Jan 2005

Job Title Auditor

Responsibilities

Responsible for compilations, review and audits for governmental units, not-for-profits and commercial clients; prepared financial statements

Skills used/gained

Recordkeeping; preparation of financial statements; analysis; supervision; client relations

Accomplishments

Progressed to in-charge level within 18 months; supervised 2 employees

PREVIOUS EMPLOYMENT COMPANY BEANTOWN COLLEGE

Address Boston, MA From Sept 1996 To Jan 2000

Job Title Bookstore – cashier (2 years)/inventory management (2 years)

Responsibilities

Checked customer out; received payment; handled cash and credit sales/placed special orders; managed inventory; dealt with vendors

Skills used/gained

Customer service; vendor relations; money handling; ordering; inventory tracking

Accomplishments

Progressed to head cashier; managed staff; implemented customer feedback system

MILITARY SERVICE NONEBranch From To

Rank at Discharge

Responsibilities

Accomplishments

HOBBIES/VOLUNTEER ACTIVITIESRunning/Biking/Triathlon/MarathonsHalf IronmanCampingTravelVolunteer race coordinatorBig Brother volunteer


Documents

Scenario 622