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- 1. 10/30/2018 Raiding Customer Assets at MF Global - Markkula Center for Applied Ethics https://www.scu.edu/ethics/focus-areas/business- ethics/resources/raiding-customer-assets-at-mf-global/ 1/2 Raiding Customer Assets at MF Global Home Markkula Center for Applied Ethics Focus Areas Business Ethics Business Ethics Resources Raiding Customer Assets at MF Global MENU Search › › › › › Who Was Responsible? James O'Toole The Commodity Futures Trading Commission recently filed a complaint against Jon Corzine, CEO of MF Global, charging him with directing one of his mid- level managers, Edith O'Brien, to transfer millions of dollars of customer assets to cover a bank overdraft that threatened to sink the firm. If he did so, the former head of Goldman Sachs, U.S. Senator, and governor of New Jersey broke the law. However, Corzine's lawyer claims
- 2. his client is not guilty as charged because "it never dawned on" him that when he, the boss, approached his subordinate with a subtle request to "find" $175 million that that call would cause her to "violate the golden rule" of protecting customer assets. Corzine faced a dilemma: his bold efforts to transform MF Global—"a plain vanilla commodities firm"—into a full-blown investment bank a la Goldman, would collapse if it didn't quickly deal with overdrawn accounts at JPMorgan Chase, the firm's principle bank, which was threatening to stop doing business with MF Global. Moreover, Corzine's lawyer says that Corzine "never directed Ms. O'Brien or anyone else regarding which account should be used to cure the overdrafts, and he never directed that customer funds should be used for that purpose. Nor was he informed that customer funds had been used for that purpose." O'Brien, a life-long middle manager, does not dispute the fact that Corzine never explicitly
- 3. ordered her to take the funds from customer accounts. She seems to admit that she knew what she was doing was wrong, but she had no choice because customer accounts were "the only place where we had the $175 million" needed to cover the overdraft. MF Global has subsequently declared bankruptcy. Questions: Did Corzine act appropriately? How would you characterize his behavior legally, ethically, and managerially? What other choices did he have? Did Ms. O'Brien behave appropriately? Realistically, what other choices did she have? Should the actions of either Corzine or O'Brien (or both or neither) be considered criminally negligent? Unethical? Bad judgment? Other? What role should (or might have) the firm's Ethics and Compliance Officer played in this drama? James O'Toole is senior fellow in business ethics at the Markkula Center for Applied Ethics.
- 4. Oct 5, 2015 Ethics in the News When employees tested positive for syphilis, Theranos whistleblower knew device was flawed Markkula Center for Applied Ethics's Theranos whistleblower event featured in The Mercury News. Woodside: New ethics code is aspirational, informal Saudi journalist’s disappearance is latest dilemma for Uber and tech industry Irina Raicu, Director of Internet Ethics quoted in The Mercury News. How Ethics Serves Business Goals
- 5. Business Ethics Resources A Model for Leadership Ethics Using Your Mission Statement for Ethical Decision Making Articles Cases Event Summaries Online Courses Videos https://www.scu.edu/ https://www.scu.edu/ethics/ https://www.scu.edu/ethics/focus-areas/ https://www.scu.edu/ethics/focus-areas/business-ethics/ https://www.scu.edu/ethics/focus-areas/business- ethics/resources/ https://www.scu.edu/ethics/ http://www.scu.edu/ethics/about/people/directors/senior-fellow- business.html https://www.scu.edu/ethics/media-mentions/stories/when- employees-tested-positive-for-syphilis-theranos-whistleblower- knew-device-was-flawed.html https://www.scu.edu/ethics/media-mentions/stories/when- employees-tested-positive-for-syphilis-theranos-whistleblower- knew-device-was-flawed.html
- 6. https://www.scu.edu/ethics/media-mentions/stories/woodside- new-ethics-code-is-aspirational-informal.html https://www.scu.edu/ethics/media-mentions/stories/woodside- new-ethics-code-is-aspirational-informal.html https://www.scu.edu/ethics/media-mentions/stories/saudi- journalists-disappearance-is-latest-dilemma-for-uber-and-tech- industry.html https://www.scu.edu/ethics/media-mentions/stories/saudi- journalists-disappearance-is-latest-dilemma-for-uber-and-tech- industry.html https://www.scu.edu/ethics/focus-areas/business- ethics/resources/ https://www.scu.edu/ethics/leadership-ethics-blog/practice-of- ethical-leadership/ https://www.scu.edu/ethics/leadership-ethics-blog/proposing-a- new-source-for-ethical-standards/ https://www.scu.edu/ethics/focus-areas/business- ethics/resources/articles/ https://www.scu.edu/ethics/focus-areas/business- ethics/resources/cases/ https://www.scu.edu/ethics/focus-areas/business- ethics/programs/business-ethics-partnership/partnership- summaries/ https://www.scu.edu/ethics/mooc/ https://www.youtube.com/playlist?list=PL4AE76B235A9EB6FE 10/30/2018 Raiding Customer Assets at MF Global - Markkula Center for Applied Ethics https://www.scu.edu/ethics/focus-areas/business- ethics/resources/raiding-customer-assets-at-mf-global/ 2/2 Targeting a Broken Heart - Internet Ethics Resources - Internet Ethics - 1 comment • a year ago
- 7. Vimmy Arora — The ‘Doing Ethics Methodology’ 1 What is going on? – What are the facts? Artificial Intelligence and Ethics 1 comment • a year ago Milo Imrie — This is crap. Sure some of those things are legitimate concerns, but the main question should be "can we Reflections on School Shootings 1 comment • 8 months ago JFSEB — To some degree, students of virtually all schools operate on practically the same code of silence as “prison rules.” Showing Up: Why our Bodies Matter in Protest 1 comment • 7 months ago Robin Rhein Hurwitz — Good point. I worry that our bodies aren’t ‘counted’ as much as our signs. Voting remains key. ALSO ON MARKKULA CENTER FOR APPLIED ETHICS t Tweet f Share Sort by Best LOG IN WITH OR SIGN UP WITH DISQUS Name
- 8. Start the discussion… ? Be the first to comment. ✉ d A BOARD SHOULD ASK ITSELF: DOES IT OPTIMIZE THE BOTTOM LINE? IS IT LEGAL? IS IT ETHICAL? MARKKULA CENTER FOR APPLIED ETHICS S A N T A C L A R A U N I V E R S I T Y © 2018 · Accessibilit Vari Hall, Santa Clara University 500 El Camino Real Santa Clara, CA 95053 408-554-5319 Maps & Directions Contact Us ABOUT THE CENTER
- 9. News Staff Ethics Experts for Media Donate PROGRAMS Focus Areas Events Training Email Sign-up RESOURCES Ethical Decision Making Articles Cases Curricula https://disqus.com/ https://disq.us/?url=https%3A%2F%2Fwww.scu.edu%2Fethics% 2Ffocus-areas%2Finternet-ethics%2Fresources%2Ftargeting-a- broken-heart%2F&key=K5W-mR07YGVQVBHdTwRUsg https://disq.us/?url=https%3A%2F%2Fwww.scu.edu%2Fethics% 2Ffocus-areas%2Finternet-ethics%2Fresources%2Ftargeting-a- broken-heart%2F&key=K5W-mR07YGVQVBHdTwRUsg
- 11. https://www.scu.edu/ethics/about-the-center/people/staff/ https://www.scu.edu/ethics/about-the-center/ethics-experts-for- media/ https://www.scu.edu/ethics/donate/ https://www.scu.edu/ethics/focus-areas/ https://www.scu.edu/ethics/events/ https://www.scu.edu/ethics/ethics-resources/ethics-training/ https://www.scu.edu/email-sign-up/ https://www.scu.edu/ethics/ethics-resources/ethical-decision- making/ https://www.scu.edu/ethics/ethics-resources/ethics-articles/ https://www.scu.edu/ethics/ethics-resources/ethics-cases/ https://www.scu.edu/ethics/ethics-resources/ethics-curricula/ 10/30/2018 Google's Handling of the Echo Chamber Manifesto - Markkula Center for Applied Ethics https://www.scu.edu/ethics/focus-areas/business- ethics/resources/googles-handling-of-the-echo-chamber- manifesto/ 1/4 Google's Handling of the Echo Chamber Manifesto Home Markkula Center for Applied Ethics Focus Areas Business Ethics Business Ethics Resources Google's Handling of the Echo Chamber Manifesto MENU Search › › › › › Case study exploring gender in a Silicon Valley company
- 12. Sara Tangdall Background In recent years, Google has been under major scrutiny for gender discrimination, and the Department of Labor is investigating Google for a potential gender pay gap. Also, Silicon Valley has been exposed as a community that repeatedly discriminates against women and other minorities, and research shows that the gender disparity in tech jobs is pervasive and widespread. As a result, Google has made a major push to create a more diverse and inclusive work culture. In August of 2017, Google fired a male software engineer, James Damore, after he internally posted a memo that relied on inaccurate gender stereotypes to criticize Google’s implementation of its diversity and inclusion initiative. The
- 13. memo was leaked to the press, which lead to a public outcry and exacerbated an already tense time for gender diversity in Silicon Valley. Around the same time as Damore’s firing, a white supremacist protest that turned violent in Charlottesville, Virginia, heightened an already tense conversation about the complexities of free speech in America. The overall conflicting views on free speech are split down ideological lines: Conservatives say they aren’t free to express their views because liberals will accuse them of being politically incorrect, while liberals believe that in an effort towards being more inclusive, people should avoid using language that is potentially offensive to marginalized communities. The Memo Damore says he was trying to point out that sometimes conservative viewpoints aren’t welcome at Google because of its liberal “echo chamber.” The memo also says that Google discriminates against certain employees and offers development
- 14. opportunities “only for people with a certain gender or race,” and that Google has lowered the bar by hiring diverse candidates. Damore believes that in order to have a truly diverse culture, Google needs to create a safe space for more conservative views. Damore’s memo also states that one of the central reasons there are fewer women than men in tech is women are biologically different from men. Damore then references scientifically unfounded gender stereotypes to support this line of reasoning. Some of the stereotypes he uses include: women are more neurotic than men; women are less capable of handling stress; and women are better at relationships than men because men are better at “things.” Google CEO Sundar Pichai (AP Photo/Manu Fernandez, File) Ethics in the News In search of a more ethical Silicon Valley Don Heider, Executive Director of the Markkula
- 15. Center for Applied Ethics, featured in the Silicon Valley Business Journal. When employees tested positive for syphilis, Theranos whistleblower knew device was flawed Markkula Center for Applied Ethics's Theranos whistleblower event featured in The Mercury News. Woodside: New ethics code is aspirational, informal How Ethics Serves Business Goals Business Ethics Resources A Model for Leadership Ethics Using Your Mission Statement for Ethical Decision Making
- 17. https://www.scu.edu/ethics/leadership-ethics-blog/practice-of- ethical-leadership/ https://www.scu.edu/ethics/leadership-ethics-blog/proposing-a- new-source-for-ethical-standards/ https://www.scu.edu/ethics/focus-areas/business- ethics/resources/articles/ https://www.scu.edu/ethics/focus-areas/business- ethics/resources/cases/ https://www.scu.edu/ethics/focus-areas/business- ethics/programs/business-ethics-partnership/partnership- summaries/ https://www.scu.edu/ethics/mooc/ https://www.youtube.com/playlist?list=PL4AE76B235A9EB6FE 10/30/2018 Google's Handling of the Echo Chamber Manifesto - Markkula Center for Applied Ethics https://www.scu.edu/ethics/focus-areas/business- ethics/resources/googles-handling-of-the-echo-chamber- manifesto/ 2/4 The Response After the memo was leaked, many criticized the contents, calling Damore and his memo “anti-diversity,” with Google employees and some of the general public saying they were offended by its contents. Critics said Damore’s memo is exactly the type of discrimination that keeps women out of the tech industry, and some female Google employees expressed
- 18. discomfort at having to work with Damore. The day after the memo was leaked, Google’s VP of Diversity and Inclusion, Danielle Brown, issued a statement criticizing the discriminatory content of the memo, saying it did not align with Google’s dedication to creating a truly diverse workforce. Three days after the public release of the memo, Damore confirmed Google had fired him. Sundar Pichai, Google’s CEO, released a statement explaining the decision to fire Damore. Pichai’s statement points out that some of Damore’s criticisms of Google’s attempts at creating a truly diverse culture are valid, but the memo violated parts of the company’s code of conduct “by advancing harmful gender stereotypes in our workplace.” Pichai also writes, “To suggest a group of our colleagues have traits that make them less biologically suited to that work is offensive and not OK.” Those who disagree with the firing say it confirms Damore’s main argument: that Google does have a liberal echo chamber; Google is intolerant to conservative views; and that its
- 19. diversity efforts have actually backfired and stifled diversity. Others who disagree point to Damore’s right to free speech. However, there is some legal ambiguity in this case because companies have the legal right to fire an employee who makes statements that could create a hostile working environment for other employees in a protected class (gender, age, sexual orientation, etc.), particularly in an at-will state like California, where Google is headquartered. But, in California, an employee cannot be fired for their political views, complicating the legal aspects of this situation even further. Damore sought out legal counsel after Google fired him, and he is currently deciding whether or not to sue for wrongful termination. Those who believe Google made the right decision by firing Damore point out that the company has made a very public commitment to creating a diverse and inclusive culture, and to have an openly discriminatory employee breaks that commitment. Keeping Damore around could also negatively impact morale among employees,
- 20. create a hostile working environment, and lead to a backslide in culture. Additionally, Google has a peer review process, whereby employees review one another’s performance. These reviews directly influence potential raises, bonuses, and promotions, so Damore’s critics question whether he could be trusted to give fair reviews when he has openly discriminated against his female colleagues in the memo. Discussion Questions 1. Legally, Google’s firing of Damore may or may not be problematic, but is Google’s firing of Damore ethical? 2. Would you have made the same decision if you were Pichai? 3. Is it ethical for an organization to fire someone who expresses beliefs that don’t align with the overall culture? 4. Do efforts towards a more diverse work culture stifle employees from speaking out? What can leaders do to avert this potential outcome? You may find the Center’s Framework for Ethical Decision
- 21. Making useful in thinking through these questions. Sara Tangdall is the Business, Leadership, and Social Sector Ethics Program Coordinator at the Markkula Center for Applied Ethics. Sep 11, 2017 A BOARD SHOULD ASK ITSELF: DOES IT OPTIMIZE THE BOTTOM LINE? IS IT LEGAL? IS IT ETHICAL? 04:50 https://www.scu.edu/ethics/ethics-resources/ethical-decision- making/a-framework-for-ethical-decision-making/ 10/30/2018 Google's Handling of the Echo Chamber Manifesto - Markkula Center for Applied Ethics https://www.scu.edu/ethics/focus-areas/business- ethics/resources/googles-handling-of-the-echo-chamber- manifesto/ 3/4 Ethical Concerns about the Adoption of Online Educational Resources - 1 comment • a year ago Avatar Deniel — Great initiative! How Bots and Humans Might Work to
- 22. Stop Harassment - The Democracy 2 comments • a year ago Avatar Maria McWell — Support this idea. Thanks for post. Showing Up: Why our Bodies Matter in Protest - Markkula Center for Applied 1 comment • 7 months ago Avatar Robin Rhein Hurwitz — Good point. I worry that our bodies aren’t ‘counted’ as much as our signs. Voting remains key. Flierphobia at Santa Clara University? - Markkula Center for Applied Ethics 3 comments • 7 months ago Avatar Peter Minowitz — Thank you for this very subtle reply. Yes, I don't know what the flier's creator intended; I was interpreting ALSO ON MARKKULA CENTER FOR APPLIED ETHICS t Tweet f Share Sort by Best LOG IN WITH OR SIGN UP WITH DISQUS Name Join the discussion…
- 23. ? • Reply • JP • 10 months ago see more The author of this article is fairly loose with the facts. Damore references "scientifically unfounded gender stereotypes" she says, when in fact the opposite is true; a quick search reveals multiple studies in peer reviewed journals that confirm exactly the male/female differences he mentioned. One is not better than the other, simply different. While the author may not be aware that there actually is science that supports Damore's stance on the issue, I believe it is wrong for her to attack his memo without first verifying the veracity of her own statements ("scientifically unfounded stereotypes"). It really doesn't take that much time or effort to find research journal articles in the electronic age. What I find more troubling is that someone fostering a discussion on ethics clearly misrepresented what Damore actually wrote in his document. His supposed position is that women are better at relationships, and men are better at "things", giving the impression that Damore believes women are inept. What he actually wrote? "Women on average show a higher interest in people and men in things"
- 24. He is not making a blanket statement regarding every man and every woman, but rather the tendencies of the average, i.e. the relative positions of a male population distribution versus that of a female population. Furthermore, he clearly does NOT say that men are better at △ ▽ • Reply • Jennifer Gaspar- Santos • 6 months ago> JP To add on to this thread. This vox article provides lots of insight for me. https://www.vox.com/the-big... Cynthia Lee writes: "It is striking to me that the manifesto author repeatedly lists race alongside gender when listing programs and preferences he thinks should be done away with, but, unlike gender, he never purports to have any scientific backing for this. The omission is telling. Would defenders of the memo still be comfortable if the author had casually summarized race and IQ studies to argue that purported biological differences — not discrimination or unequal access to education — explained Google’s shortage of African- American programmers?" △ ▽ ✉ d
- 25. Share › Share › MARKKULA CENTER FOR APPLIED ETHICS Vari Hall, Santa Clara University 500 El Camino Real ABOUT THE CENTER News Staff PROGRAMS Focus Areas Events RESOURCES Ethical Decision Making Articles https://disqus.com/ https://disq.us/?url=https%3A%2F%2Fwww.scu.edu%2Fethics% 2Finternet-ethics-blog%2Fethical-concerns-about-the-adoption- of-online-educational-
- 27. ethics/resources/googles-handling-of-the-echo-chamber- manifesto/#comment-3700347455 https://disq.us/url?url=https%3A%2F%2Fwww.vox.com%2Fthe- big-idea%2F2017%2F8%2F11%2F16130452%2Fgoogle-memo- women-tech-biology- sexism%3ArA178eaxhunx_pWGQhLGKeWIuXY&cuid=482270 1 https://disqus.com/by/disqus_T0hTghyQT0/ https://disqus.com/by/jennifergasparsantos/ https://www.scu.edu/ethics/ https://www.scu.edu/ethics/about-the-center/center-news/ https://www.scu.edu/ethics/about-the-center/people/staff/ https://www.scu.edu/ethics/focus-areas/ https://www.scu.edu/ethics/events/ https://www.scu.edu/ethics/ethics-resources/ethical-decision- making/ https://www.scu.edu/ethics/ethics-resources/ethics-articles/ 10/30/2018 Google's Handling of the Echo Chamber Manifesto - Markkula Center for Applied Ethics https://www.scu.edu/ethics/focus-areas/business- ethics/resources/googles-handling-of-the-echo-chamber- manifesto/ 4/4 S A N T A C L A R A U N I V E R S I T Y © 2018 · Accessibility Santa Clara, CA 95053 408-554-5319 Maps & Directions Contact Us
- 28. Ethics Experts for Media Donate Training Email Sign-up Cases Curricula https://www.scu.edu/ https://www.scu.edu/accessibility https://www.scu.edu/login https://www.facebook.com/SantaClaraUniversity https://twitter.com/SantaClaraUniv https://www.scu.edu/map/index.php https://www.scu.edu/ethics/about-the-center/contact-us/ https://www.facebook.com/MarkkulaCenterForAppliedEthics/ https://twitter.com/scuethics https://www.linkedin.com/company/markkula/ https://www.youtube.com/user/appliedethicscenter https://www.instagram.com/markkulaethicscenter/ https://www.scu.edu/ethics/about-the-center/ethics-experts-for- media/ https://www.scu.edu/ethics/donate/ https://www.scu.edu/ethics/ethics-resources/ethics-training/ https://www.scu.edu/email-sign-up/ https://www.scu.edu/ethics/ethics-resources/ethics-cases/ https://www.scu.edu/ethics/ethics-resources/ethics-curricula/
- 29. 10/30/2018 This Land is Your Land - Markkula Center for Applied Ethics https://www.scu.edu/ethics/focus-areas/more/engineering- ethics/engineering-ethics-cases/this-land-is-your-land/ 1/1 This Land is Your Land Home Markkula Center for Applied Ethics Focus Areas More Engineering Ethics Engineering Ethics Cases This Land is Your Land MENU Search › › › › › › Jocelyn Tan Kara has been working as an environmental engineer at a consulting firm for over twenty- five years. Well-known for settling disputes between her corporate clients before litigation must be pursued, Kara often analyzes technical data, particularly distributions of solid particle pollution, presented by disputing parties to help them reach a compromise on the cost of environmental cleanup. For example, two parties may be separated from one another by a strip of land; however, each party must fiscally contribute in keeping the land
- 30. free from pollutants. One day, Kara was contacted by a journalist to talk about her experiences at the firm. Kara spoke about how she often encountered cases where companies did not accurately depict levels of solid particle pollution occupying the companies’ respective surroundings. Instead, technical experts, who are mostly engineers, would misrepresent data in order to make it seem that minority parties were responsible for a greater part of the contamination. At the end of the interview, Kara emphasized the necessity of engineers taking ownership and being honest about the presentation of data. At what point does an engineer’s interpretation of data move from sound technical reasoning to misrepresentation? How should engineers deal with the pressure to come up with data that may indicate favorable results for their employers? Jocelyn Tan was a 2014-2015 Hackworth Fellow in Engineering Ethics at the Markkula Center for Applied Ethics at Santa Clara University.
- 31. August 2015 Aug 26, 2015 ENGINEERING ETHICS CASES BY CATEGORY Academic Ethics Bioengineering Engineering Business Civil Engineering Computer/Software Engineering Electrical Engineering International Mechanical Engineering Science/Research Ethics More Environmental Ethics Engineering Ethics Sports Ethics Global Ethics
- 32. Legal Ethics MARKKULA CENTER FOR APPLIED ETHICS S A N T A C L A R A U N I V E R S I T Y © 2018 · Acc Vari Hall, Santa Clara University 500 El Camino Real Santa Clara, CA 95053 408-554-5319 Maps & Directions Contact Us ABOUT THE CENTER News Staff Ethics Experts for Media Donate PROGRAMS Focus Areas
- 33. Events Training Email Sign-up RESOURCES Ethical Decision Making Articles Cases Curricula https://www.scu.edu/ https://www.scu.edu/ethics/ https://www.scu.edu/ethics/focus-areas/ https://www.scu.edu/ethics/focus-areas/more/ https://www.scu.edu/ethics/focus-areas/more/engineering- ethics/ https://www.scu.edu/ethics/focus-areas/more/engineering- ethics/engineering-ethics-cases/ https://www.scu.edu/ethics/ https://www.scu.edu/ethics/focus-areas/more/engineering- ethics/engineering-ethics-cases/academic-ethics/ https://www.scu.edu/ethics/focus-areas/more/engineering- ethics/engineering-ethics-cases/bioengineering-cases/ https://www.scu.edu/ethics/focus-areas/more/engineering- ethics/engineering-ethics-cases/engineering-business-cases/ https://www.scu.edu/ethics/focus-areas/more/engineering- ethics/engineering-ethics-cases/civil-engineering-cases/
- 35. media/ https://www.scu.edu/ethics/donate/ https://www.scu.edu/ethics/focus-areas/ https://www.scu.edu/ethics/events/ https://www.scu.edu/ethics/ethics-resources/ethics-training/ https://www.scu.edu/email-sign-up/ https://www.scu.edu/ethics/ethics-resources/ethical-decision- making/ https://www.scu.edu/ethics/ethics-resources/ethics-articles/ https://www.scu.edu/ethics/ethics-resources/ethics-cases/ https://www.scu.edu/ethics/ethics-resources/ethics-curricula/ 2/24/2020 Business Plan Template: A Step-by-Step Guide For Entrepreneurs https://www.forbes.com/sites/alejandrocremades/2018/12/10/bus iness-plan-template-a-step-by-step-guide-for- entrepreneurs/#613db681120e 1/7 282,679 views | Dec 10, 2018, 08:46am Business Plan Template: A Step-by- Step Guide For Entrepreneurs Entrepreneurs Author of The Art of Startup Fundraising & Serial Entrepreneur Alejandro Cremades Former Contributor What should be in your business plan? Creating a business plan is a key part of starting any business venture. Even if you’ll
- 36. never use it in this format for attracting investors and raising capital, it can be vital for helping all entrepreneurs to ask and think through essential questions. Nowadays business plans are used as an internal roadmap for the execution of the company since pitch decks have taken over when it comes to fundraising required PIXABAYPixabay https://www.forbes.com/sites/alejandrocremades/ https://www.forbes.com/entrepreneurs/older https://www.forbes.com/sites/alejandrocremades/ 2/24/2020 Business Plan Template: A Step-by-Step Guide For Entrepreneurs https://www.forbes.com/sites/alejandrocremades/2018/12/10/bus iness-plan-template-a-step-by-step-guide-for- entrepreneurs/#613db681120e 2/7 materials. For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.
- 37. Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here). Don’t skip this part of the process. Though, do not let it become a distraction and slow you down from creating an actual business either. Today In: Leadership For key insights on the why, when and how to create a business plan, and emerging alternatives for startups versus small businesses, see my Forbes article on How To Create A Business Plan. There are many variations of business plans today. Especially, with the rapid growth of lean startups. A few minutes on Google will provide plenty of free business plan template options. The following is adapted from the SCORE Association’s recommende outline of categories, which covers most of the bases for exactly what to include in your business plan. Executive Summary
- 38. This is the most critical part of your business planning. If you never flesh out a full business plan, make sure you create a fantastic executive summary. This brings togethe all of the key elements of your plan and will often be the make or break document whic decides whether commercial lenders or investors will have any interest in seeing the re of your documentation or pursuing a relationship with you. For additional guidance, yo may want to review the Executive Summary Template that I recently covered on Forbes as well. Company Description This section provides a further overview of your company now. Include: http://alejandrocremades.com/silicon-valley-legend-creates- pitch-deck-template-for-entrepreneurs/?utm_source=Forbes- pitch&utm_medium=Forbes-pitch&utm_campaign=Forbes- pitch&utm_term=Forbes-pitch&utm_content=Forbes-pitch http://alejandrocremades.com/the-400m-pitch-deck-that-got- this-uber-competitor-funded/?utm_source=Forbes- pitch&utm_medium=Forbes-pitch&utm_campaign=Forbes- pitch&utm_term=Forbes-pitch&utm_content=Forbes-pitch https://www.forbes.com/entrepreneurs/older https://www.forbes.com/sites/alejandrocremades/2018/07/24/ho
- 39. w-to-create-a-business-plan/#4db5b4be7391 https://www.score.org/resource/business-plan-template-startup- business https://www.forbes.com/sites/alejandrocremades/2018/07/31/exe cutive-summary-template-what-to-include 2/24/2020 Business Plan Template: A Step-by-Step Guide For Entrepreneurs https://www.forbes.com/sites/alejandrocremades/2018/12/10/bus iness-plan-template-a-step-by-step-guide-for- entrepreneurs/#613db681120e 3/7 The company purpose, mission and vision Company formation information Who the founders are Location and geographical markets served or where you have a presence Current status and stage of business Any notable achievements so far Products & Services List what products and services your company has been formed to create. How are you solving the main problem and are serving the community with your business? Include:
- 40. Definition of the core product or service Development stage Screenshots or diagrams Current pricing Past test results Anticipated future products and services you hope to develop and roll out Marketing Plan This is another section which is an absolute must-have, even if you never develop a full fledged business plan in its entirety. This holds key information that all financiers and potential investors are going to want to know. Even if you hope to just get away with using a pitch deck to raise the capital you need. This is also a vital guide for yourself as a founder, and for your growing team as to what needs to be done and how. 2/24/2020 Business Plan Template: A Step-by-Step Guide For Entrepreneurs
- 41. https://www.forbes.com/sites/alejandrocremades/2018/12/10/bus iness-plan-template-a-step-by-step-guide-for- entrepreneurs/#613db681120e 4/7 Every minute invested in this section can pay great dividends over the longer term. Include: Competition and market research SWOT analysis (Strengths, Weaknesses, Opportunities & Threats) Target market research (total market size and total addressable market (TAM)) Brand and product positioning Elevator pitches and tag-lines Target customer personas and profiles Results of any testing conducted so far Marketing channels to be used Marketing budget Estimates of cost per action (CPAs) For further guidance on this section, you may want to review the piece on Forbes with the title How To Create A Marketing Plan.
- 42. Operational Plan This is your opportunity to organize and demonstrate your understanding of this industry and business. Include: Facilities and space needed Technology needs Equipment needs Supply chain management https://www.forbes.com/sites/alejandrocremades/2018/12/03/ho w-to-create-a-marketing-plan 2/24/2020 Business Plan Template: A Step-by-Step Guide For Entrepreneurs https://www.forbes.com/sites/alejandrocremades/2018/12/10/bus iness-plan-template-a-step-by-step-guide-for- entrepreneurs/#613db681120e 5/7 Logistics and distribution plans Order and fulfillment processes Quality control checks Legal and accounting needs
- 43. Management & Organization This section of your business plan will help you to identify your own needs, and demonstrate to investors and other licensing bodies and agencies that you are the team to get this job done. It basically shows your management and industry experience and who will do what. Include: Founders and executive team Any owners and shareholders Board of directors Consultants and special advisors Key team members and department heads Financial Plan Provide an honest snapshot of where you are and where you reasonably hope to go, providing you secure the funding you need. Include: Current balance sheet
- 44. Past 2 years’ financials if applicable Financial projections for 12 months, and annually through year 5 2/24/2020 Business Plan Template: A Step-by-Step Guide For Entrepreneurs https://www.forbes.com/sites/alejandrocremades/2018/12/10/bus iness-plan-template-a-step-by-step-guide-for- entrepreneurs/#613db681120e 6/7 Break even analysis Cash flow projections Income and expenses In this section you may also be including startup cost and capitalization requirements, or funding and loan requests. Startup costs should be thorough, have some additional cushion built in, and focus on development of physical product or intellectual property and growth. Not what you wan to pay yourself as a salary. If fundraising, be sure to include a repayment schedule for any loans, use of funds,
- 45. runway to follow up fundraising rounds, and the milestones you expect to achieve by then. Appendices Include all other information, references and required documentation here. This will typically include: Articles of incorporation and status Resumes of founders and key team members Copies of insurances Licenses Trademarks and patent registrations Contracts Appraisals Deeper research data or links to references Stay Flexible 2/24/2020 Business Plan Template: A Step-by-Step Guide For Entrepreneurs
- 46. https://www.forbes.com/sites/alejandrocremades/2018/12/10/bus iness-plan-template-a-step-by-step-guide-for- entrepreneurs/#613db681120e 7/7 Follow me on LinkedIn. Check out my website. I am a serial entrepreneur and the author of the The Art of Startup Fundraising. With a foreword by ‘Shark Tank‘ star Barbara Corcoran, and published by John Wiley &... Read More Just like your first attempt at coding a website, practicing your pitch, or riding a bike, it not going to be perfect. Do your best. Get outside input from an expert. Just don’t wait until you think your business plan is perfectly polished and cannot possible go any further in depth. Otherwise, chances are you will have missed your window of opportunity by a long way. It is also crucial to understand that nothing in this document is set in stone. Pretty muc everything will absolutely change over time. Roles will change, marketing will change, financial projections will change, and your product and service menu can change. Having raised money for startups, exited them, and after
- 47. interviewing many of the mos successful founders and angel investors on the DealMakers Podcast, I’ve got to experience both the struggles and wins in startup life. Things change rapidly overnight and for this reason you need to adapt quickly to the market and change whatever is required. This is a great guide and exercise. It’s a gateway to getting to the next step. Get it done, start taking action and stay flexible. Summary Creating a business plan remains a valuable part of launching any new business ventur Formats and business plan templates may have evolved, and new documents like pitch decks are becoming even more important. Though without going through this process many entrepreneurs will find they have hug gaps in their ideas and may fall short when it comes to fielding questions from serious investors. Using this template you will cover most of the bases and will be able to take
- 48. the next steps with confidence. Alejandro Cremades Follow https://www.linkedin.com/in/acremades https://alejandrocremades.com/ http://alejandrocremades.com/blogs/ https://www.forbes.com/sites/alejandrocremades/ https://www.forbes.com/sites/alejandrocremades/ Assignment 1: Each individual student will prepare an individual research paper that compares and contrasts the American and Chinese economies in terms of using global, ethical, political, physical, and societal indicators. Does the size and growth of the economies of the two nations have any relationship to capitalism and democracy? What is the impact of the Internet on the two national economies? How do these nations define capitalism in relation to national political policies? Is there a relationship between economic growth and personal freedom with the two nations? Assignment 2: Each student must choose an industry business model for which he/she will develop an operations and financial plan, including web technologies. What is your Operations Plan? What products or services will you market, and what will the website feature? How will this site actually operate? How will this be different from the competition? Be comprehensive. What is your Financial Plan? The Financial Plan should include a statement of the financial assumptions used to generate the plan numbers, a break-even analysis that identifies the amount of sales needed to cover fixed and variable expenses, a statement of the sources and uses of funds that explains how the
- 49. e-business expects to secure capital and how it will spend it, the ownership of the e-business, and what the expected return on the business is. Prepare an issues analysis and critical risk statement that identifies threats and opportunities the e-business will face including economic, market and environmental considerations. What unique features will your webpage have that will assure the effective implementation of the business model? Requirements: double-spaced, less than 5 pages, no word requirements, can be any legitimate company or product, refer to Business plan template. Assignment 3: Three case study · Google's Handling of the Echo Chamber Manifesto - Markkula Center for Applied Ethics. · Raiding Customer Assets at MF Global - Markkula Center for Applied Ethics. · This Land is Your Land - Markkula Center for Applied Ethics. Requirements: double-spaced, no more than three pages in three cases, no word requirement.