iReadyWorld Change Management Field Study <ul><li>Team Members: </li></ul><ul><li>Barry Eng </li></ul><ul><li>Forrest Ferd...
Fieldwork <ul><li>Research on Industry </li></ul><ul><li>Interviews with CEO and VC’s </li></ul><ul><li>CEO invited to giv...
Company Background <ul><li>IT Service Provider </li></ul><ul><li>Targets Small/Mid Sized Firms </li></ul><ul><li>Market = ...
iReadyWorld Services
Organizational Chart
Industry Research <ul><li>There is a market for this service (potentially very large)  </li></ul><ul><li>Regional competit...
Industry Research  (continued) <ul><li>Other players include Everdream Corporation (Fremont, CA) </li></ul><ul><li>Company...
Founder Interview (Adi) <ul><li>Ambitious & Record of Past Success </li></ul><ul><li>Young (31) </li></ul><ul><li>Entrepre...
VC Interview (Tuff Yen – TTV) <ul><li>Believes in the business plan </li></ul><ul><li>Only willing to invest if Adi & Lane...
Change Issues Impacting Firm <ul><li>Our Analysis Follows the Course Framework: </li></ul><ul><li>Module I: </li></ul><ul>...
Module I : Leveraging Power <ul><li>Key Issues </li></ul><ul><li>Growth </li></ul><ul><ul><li>Geographic </li></ul></ul><u...
Module II : Strategic Transformations <ul><li>Key Issues </li></ul><ul><li>Organizational structure must morph to better f...
Module III : Knowledge Management <ul><li>Key Issue </li></ul><ul><li>Transferring company knowledge to new sales staff – ...
Module IV : Starting Over & Up <ul><li>Key Issues </li></ul><ul><li>Adi’s future role </li></ul><ul><ul><li>After new CEO ...
Group Assessment (I of III) <ul><li>New CEO: </li></ul><ul><li>Role harder to fill than originally anticipated  </li></ul>...
Group Assessment (I of III)  (continued) <ul><li>Founders state willingness to pass on leadership, but this will be tested...
Group Assessment (II of III) <ul><li>Adi’s Role as Chief Customer Officer: </li></ul><ul><li>May be only temporary solutio...
Group Assessment (III of III) <ul><li>Future Directions: </li></ul><ul><li>Must replace key Atlanta salesperson </li></ul>...
General <ul><li>DISCUSSION  </li></ul>Applause Ovation? Standing
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  • Think Bernd Stenzel for staff support buy-in, Think Ethan Berman for willingness to pass on leadership
  • iRW Presentation

    1. 1. iReadyWorld Change Management Field Study <ul><li>Team Members: </li></ul><ul><li>Barry Eng </li></ul><ul><li>Forrest Ferdon </li></ul><ul><li>Thomas Francis </li></ul><ul><li>Lauren Niehaus </li></ul><ul><li>Curtis Palmer </li></ul><ul><li>Samira Vossough </li></ul><ul><li>BUS 633P </li></ul><ul><li>Change Management </li></ul><ul><li>Prof. Mary Ann Glynn </li></ul>
    2. 2. Fieldwork <ul><li>Research on Industry </li></ul><ul><li>Interviews with CEO and VC’s </li></ul><ul><li>CEO invited to give “pitch” to company (schedule conflicts) </li></ul><ul><li>Interviews with exiting sales person(s) </li></ul><ul><li>Discussions with Potential Customers </li></ul>
    3. 3. Company Background <ul><li>IT Service Provider </li></ul><ul><li>Targets Small/Mid Sized Firms </li></ul><ul><li>Market = Southeast US (NC, GA) </li></ul><ul><li>Founded in 1999 </li></ul><ul><li>Charlotte, NC Based </li></ul><ul><li>On 2nd Round </li></ul><ul><li>(VC Funding) </li></ul><ul><li>22 Employees </li></ul>
    4. 4. iReadyWorld Services
    5. 5. Organizational Chart
    6. 6. Industry Research <ul><li>There is a market for this service (potentially very large) </li></ul><ul><li>Regional competitors failed due to funding issues / financials </li></ul><ul><li>Anticipate that large firms may one day become dominant players </li></ul><ul><ul><li>e.g., MCI, IBM, etc. </li></ul></ul><ul><ul><li>If “iReadyWorld’s” are successful and profit potential is noted </li></ul></ul>
    7. 7. Industry Research (continued) <ul><li>Other players include Everdream Corporation (Fremont, CA) </li></ul><ul><li>Company is currently focused on growing sales / customer base and establishing profitable model by end of year 2002 </li></ul><ul><ul><li>Need 2 large Atlanta accounts (500 seats + each) </li></ul></ul>
    8. 8. Founder Interview (Adi) <ul><li>Ambitious & Record of Past Success </li></ul><ul><li>Young (31) </li></ul><ul><li>Entrepreneurial </li></ul><ul><ul><ul><ul><li>Wants to repeat someday </li></ul></ul></ul></ul><ul><li>Appears willing to hand over leadership </li></ul><ul><li>Sees himself as “closer” </li></ul><ul><ul><ul><ul><li>Wants sales role following transition </li></ul></ul></ul></ul><ul><li>BUSY ! </li></ul><ul><ul><ul><ul><li>Time commitments very tight </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Commutes between Atlanta & Charlotte weekly </li></ul></ul></ul></ul>
    9. 9. VC Interview (Tuff Yen – TTV) <ul><li>Believes in the business plan </li></ul><ul><li>Only willing to invest if Adi & Lane agreed to step down following funding </li></ul><ul><li>Sees challenges w/r to marketing and sales </li></ul><ul><li>Actively assisting the company in identifying new CEO </li></ul><ul><li>Company also requires additional budgetary controls / fiscal management policies </li></ul>
    10. 10. Change Issues Impacting Firm <ul><li>Our Analysis Follows the Course Framework: </li></ul><ul><li>Module I: </li></ul><ul><ul><ul><ul><li>Leveraging Power, Influence & Networks </li></ul></ul></ul></ul><ul><li>Module II </li></ul><ul><ul><ul><ul><li>Strategic Transformations </li></ul></ul></ul></ul><ul><li>Module III </li></ul><ul><ul><ul><ul><li>Changing Smarts </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Knowledge Management </li></ul></ul></ul></ul><ul><li>Module IV </li></ul><ul><ul><ul><ul><li>Starting Over & Starting Up </li></ul></ul></ul></ul>
    11. 11. Module I : Leveraging Power <ul><li>Key Issues </li></ul><ul><li>Growth </li></ul><ul><ul><li>Geographic </li></ul></ul><ul><ul><li>Internal </li></ul></ul><ul><li>New CEO </li></ul><ul><ul><li>Network building </li></ul></ul><ul><ul><li>Power shift </li></ul></ul><ul><ul><li>Employee acceptance </li></ul></ul>
    12. 12. Module II : Strategic Transformations <ul><li>Key Issues </li></ul><ul><li>Organizational structure must morph to better fit geographic expansion & growth plans </li></ul><ul><li>Structure must reflect increasing importance of sales & marketing </li></ul><ul><li>Structure must meet the needs of clients </li></ul>
    13. 13. Module III : Knowledge Management <ul><li>Key Issue </li></ul><ul><li>Transferring company knowledge to new sales staff – “cloning Adi” </li></ul><ul><li>Sub Issues </li></ul><ul><li>Retaining sales staff (high turn-over) </li></ul><ul><li>Improving sales staff selection / hiring process </li></ul>
    14. 14. Module IV : Starting Over & Up <ul><li>Key Issues </li></ul><ul><li>Adi’s future role </li></ul><ul><ul><li>After new CEO </li></ul></ul><ul><li>Company’s future </li></ul><ul><ul><li>Predictions for growth & profits </li></ul></ul><ul><li>Sub Issue </li></ul><ul><li>Name change </li></ul><ul><ul><li>Goodbye “iReadyWorld”; hello “?” </li></ul></ul>
    15. 15. Group Assessment (I of III) <ul><li>New CEO: </li></ul><ul><li>Role harder to fill than originally anticipated </li></ul><ul><li>Founders & Investors initially thought finding the right person would be easy </li></ul><ul><ul><ul><ul><li>Position not “well defined” </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Now considering the use of an executive search firm </li></ul></ul></ul></ul>
    16. 16. Group Assessment (I of III) (continued) <ul><li>Founders state willingness to pass on leadership, but this will be tested </li></ul><ul><ul><ul><ul><li>Leader will be given short time to reach conclusions </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Industry expert with significant management experience required </li></ul></ul></ul></ul><ul><li>New leader will make changes that may not get the full support of staff </li></ul>
    17. 17. Group Assessment (II of III) <ul><li>Adi’s Role as Chief Customer Officer: </li></ul><ul><li>May be only temporary solution for Adi </li></ul><ul><ul><ul><ul><li>Needs more appropriate role </li></ul></ul></ul></ul><ul><li>Adi’s has extensive time commitments, which limits his effectiveness </li></ul><ul><li>Company must concentrate on developing training program / knowledge management system for future sales force </li></ul><ul><li>Company must hire marketing expertise </li></ul><ul><ul><ul><ul><li>Outsource vs. in-house staff? </li></ul></ul></ul></ul>
    18. 18. Group Assessment (III of III) <ul><li>Future Directions: </li></ul><ul><li>Must replace key Atlanta salesperson </li></ul><ul><ul><ul><ul><li>Due to resignation </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Need a sales strategy </li></ul></ul></ul></ul><ul><li>Must identify new corporate name – and tie that to new marketing campaign (VC’s request) </li></ul><ul><li>Must establish an employee training program </li></ul><ul><ul><ul><ul><li>For sales force as well as other staff </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Encourage knowledge transfer across geographic boundaries </li></ul></ul></ul></ul>
    19. 19. General <ul><li>DISCUSSION </li></ul>Applause Ovation? Standing

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