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Atlas Black: Management Guru?
Written By: Jeremy Short
Talya Bauer Dave Ketchen
Illustrated By: Len Simon
Flat World Knowledge, Inc. New York
Atlas Black: Management Guru?
All Rights Reserved @ 2010 Jeremy Short, T alya Bauer, Dave Ketchen
Flat World Knowledge, Inc.
Atlas Black: Management Guru?
All Rights Reserved @ 2010 Jeremy Short, Talya Bauer, Dave Ketchen
Flat World Knowledge, Inc.
For information address: Flat World Knowledge, Inc.
13 N. Mill Street Nyack, NY 10960
www.flatworldknowledge.com
fla~rld KNOWLEDGE
---------------ISBN 10 0-9823618-7-4
ISBN 13 978-0-9823618-]:-0
Rob Nason Colorist
James Stoyanof Shading Lettering Layout design
Tessa Short Shading Final editing
Debbie Stoyanof Inker
Scott Henricks Lettering Layout design
Ian Baird Inker
Acknowledgements and Dedications
To Tessa and Jack, the motivation and inspiration for all that I do.
-- Jeremy
This book is dedicated to two funny guys. Thank you to Alexander and Nicholas who followed A tlas' adventures all along the way.
-- Talya
My dedication is to Sharon Ketchen, who makes me work hard for laughs by setting a high bar for comedy.
Dedicated to my daughters Cooper and Charlie.
-- Dave
-- Len
Not Just Comics: Or, Why Are Graphic Novels
Valuable for Management Education?
The term graphic novel is reserved for book-length works that are targeted toward adult audiences. Graphic novels are often used to convey serious, nonfiction content. For example, Jacobson and Colon (2006) published a graphic novel adaptation of the 9/11 report. The graphic novel Maus, by Art Spiegelman (1973), recounts his father's story as a holocaust survivor in Nazi Germany. Maus was the first graphic novel to receive the Pulitzer Prize and it exemplifies the medium's abil ity to convey serious topics. Mar jane Satrapi's (2003) Persepolis tells the story of her childhood in Iran during the Islamic revolution. A number of graphic novels, including 300, V for Vendetta, A History of Violence, Ghost World, Stardust, and Road to Perdition have been adapfed into feature films that also targeted adult audiences.
Graphic novels are widely read by college students, and in recent years educators have incorporated graphic novels into many university courses. Topics adapted to the graphic novel format include chemistry, genetics, psychology, history, physics, statistics, and ethics - to name only a few. The Federal Reserve Bank currently offers a dozen titles that are available for free to the public covering topics such as monetary policy, interest rates, and the history of money. Kaplan, the test preparation firm, has recently incorporated the graphic novel format for SAT prep courses, and Wired magazine's Daniel Pink has recently written a career guide in the graphic novel format. In Japan, it is common to see businesspeople on commuter trains reading graphic novels about business, and universities there have long used the format for teaching.
MSNBC notes that the graphic novel market was $207 million in 2005 and grew to $330 million in sales in 2006. In 2007, sales of graphic novels in the United States surpassed sales of comic books for the first time. Booksellers in America, Britain, Germany, Italy, and South Korea cite graphic I iterature as one of their fastest-growing categories. In Borders bookstores in the United States, graphic novel sales have risen more than 100ero in three years. Five of the ten best-selling books in France in 2006 were graphic novels. Megatrends! author John Naisbitt notes that the graphic novel is the only category of novel that is gaining ground in this increasingly visual age (Naisbitt, 2007).
Today's students encounter and thrive on a vast array of stimulation and media input. To captivate students' attention, new educational material is needed, including the teaching of management concepts and ideas through engaging stories (e.g., Short & Ketchen, 2005). Graphic novels appeal to anyone interested in learning more about management and can be used for a variety of purposes including: (1) A great basic reference for courses that have a lot going on or courses that do not heavily utilize a textbook. The graphic novel makes for a short, sweet, and lively introduction to important concepts - such an approach might be especially useful for business minors ' classes as well as other courses that incorporate key management concepts that are outside of a traditional college of business setting; (2) A supplement to a traditional textbook for those interested in making the textbook concepts more accessible by putting them in a specific context; (3) A replacement for a traditional textbook, particularly in short or condensed term courses. We are pleased to present the first ever graphic novel in management, and one that combines all the advantages of the increasingly popular format with the time-tested theories and concepts that are central to management texts. Our graphic novel is accompanied by a full teacher's guide to highlight key concepts and to aid in the integration of content in classroom usage in a variety of potential contexts.
References:
Jacobson,S., & Colon, E. (2006). The 9/11 report: A graphic adaption. New York, NY : Hill and Wang .
Naisbitt, J. (2007, March-Apri I). The post-literate future. Futurist, p. 24-26.
Satrapi, M. (2003). Persepolis: The story of a childhood. New York: Pantheon.
Short, J.C., & Ketchen, D.J. (2005). Teaching timeless truths through classic literature: Aesop's fables and strategic management. Journal of Management Education, 29, 816-832.
Spiegelman, A. (1973). Maus: A survivor's tale. New York: Pantheon.
About the Authors
Jeremy Short is the Jerry S. Rawls Professor of Management at Texas Tech University. His award-winning teaching includes classes such as Principles of Management, Strategic Management, Entrepreneurship, and Management History. Jeremy's research focuses on the determinants of firm and organizational performance. His work appears in such journals as Strategic Management Journal, Organization Science, Personnel Psychology, Organizational Behavior and Human Decision Processes, Academy of Management Learning and Education,and Journal of Management Education, among others . He is an associate editor for the Journal of Management and serves on the editorial board of Organizational Research Methods. He also co-authored the first Harvard Business School case in graphic novel format.
T alya Bauer is the Cameron Professor of Management at Portland State University . Talya's teaching of Organizational Behavior, Negotiations, Interviewing, and Power and Influence has led to multiple teaching awards. Talya's research focuses on socialization/onboarding of new employees, recruitment and selection, leadership, stress, contingent workers, and person-job fit. Her work appears in such journals as Academy of Management Journal, Journal of Applied Psychology, Personnel Psychology, and Academy of Management Learning and Education and she is a Fellow of the Society for Industrial/Organizational Psychology. She is the editor of the Journal of Management and has served on several editorial boards, including the Journal of Applied Psychology and Personnel Psychology, and has been interviewed on National Public Radio's Talk of the Nation.
Dave Ketchen is the Lowder Eminent Scholar in Entrepreneurship and a Professor of Management at Auburn University . An award-winning educator, Dave has taught Principles of Management, Strategic Management, and Franchising. His research interests include strategy, entrepreneurship, research methods, and strategic supply-chain management. His work appears in journals such as Academy of Management Journal and Strategic Management Journal. He has served on twelve editorial boards, including those of Academy of Management Review and Strategic Management Journal. He has served or is serving as associate editor for the Academy of Management Journal and four other journals. He and wife, Sharon, enjoy (usually) raising their two Labrador retrievers . His outside interests include golf, fishing, and driving on Colorado jeep trails.
About the Illustrator
Len S i m 0 n is the cofounder and co-owner of FatCat Animation. Before starting FatCat animation, Len was a member of the team that started Fox Animation Studios. Len's Animation Director credits include numerous feature films such as Anastasia, Bartok the Magnificent, Titan AE, Curious George, Fat Albert, All Dogs Go to Heaven, Rock-A-Doodle, A Troll in Central Park, Thumbelina, The Pebble and the Penguin, The Thief and the Cobbler, Felide, Spirit - Stallion Of the Cimarron, and Eight Crazy Nights. Len's animated classical shorts -CrocPond's: Rindin the Puffer and The Gathering Place: The Coyote and The Tortoise-have won numerous awards and accolades in the industry. His credits extend into a number of European animated features as well.
Key Concepts Illustrated in Atlas Black: Management Guru?
Chapter 6
Active and passive listening (pages 16-17) Business plan elements (page 20) Communication process (page 5) Communication channels (page 6) Communication freezers (pages 13-14) Effective business correspondence (page 3) Entrepreneurial orientation dimensions (page 22) Information overload (page 8) Information richness (page 6) Noise (pages 5-6) Selective perception (page 8)
Chapter 7
Conflict types (pages 9-10) General Adaptation Syndrome (pages 4-5) Negotiation mistakes (pages 11-12) Negotiation steps (pages 16-18) Negotiation styles (pages 14-15) Stages of moral development (page 19-22) Stress (pages 1-6)
Chapter 8
Board of directors (pages 15-17) Effective meeting guidelines (pages 10-11) Group decision making techniques (pages 19-20) Group stages (pages 3-5) Punctuated-equilibrium (page 8) Social loafing (pages 21-23) Task interdependence (pages 17-18) Team contract (page 13)
Chapter 9
Equity Theory (pages 14-15) ERG Theory (pages 8-9) Expectancy Theory (pages 13-14) Herzberg's Two-factor Theory (page 9) Incentives (pages 17-19) Job design (pages 21-24) Organizational justice (page 16) Maslow's Hierarchy of Needs (pages 7-8) McClelland's Acquired Needs Theory (pages 10-12) Reinforcement theory (pages 2-7) SMART goals (page 20)
Chapter 10
Authentic leaders (page 13) Bases of power (pages 14-18) Classic leadership decision-making styles (pages 2-3) Impression management (pages 19-21) Influence techniques (pages 6-7) Leader-member exchange theory (page 12) Situational leaders (pages 8-9) Transactional leaders (page 11) Transformational leaders (pages 10-11)
CHAPTER 6: EFFECTIVE COMMUNICATION -
JEREMY S tl 0 R. T TALYA BAUER. DAVE KETCtlEN I LLUSTRATED BY
LEN SIMON
CAN Y
Welcome once again, dear reader, to a world where would-be entrepreneurs Atlas Black and David Chan are about to take their ultimate test. In this episode, they face the daunting task of creating and communicating an effective business plan. If they are up to the challenge, startup funding awaits. If they are careless in their efforts, the dream of a startup restaurant will certainly leave them with an empty feeling in their stomachs.
Yup. For now, I'm following up on a few
emails.
Oh, great! Did you make any new
contacts?
He's been at it for hours over
there.
Did you follow up with the owner of Cat Lady Coffee
about serving their coffee?
So, we're finally getting down to
writing the business plan.
This lead seems particularly promising!
Are you looking into the amount of
startup funding we'll need?
You're following
up on your online dating leads!!!
But I'm not sending a business
email.
Why not? David, do you have any idea how
powerful the Internet is these days? In 2007, one out of every 8 new married couples in the
U.S. met online! Did you know if the number of members of MySpace was a country is would be the 10th largest,
just behind Mexico? Do you have any idea how many potential dati ng
opportunities that creates?
Well, you're not
going to send that are you?
Atlas, you're not listening! I didn't say the Internet was bad. I said, you're not going to send
THA T are you?!?!
You've basically violated everyone of
the do's and don'ts for business email.
Well, in terms of trying to communicate, the
same rules apply.
From: Badd Dogg4S@ya hoo.com To: [email protected] CC: [email protected]
DO use cc's sparingly. Atlas, cc'ing your cousin on this is really weird .
DO use a subject line that summarizes your message, adjusting it as the message
Su bject: Kon ich iwazzzzzzzzzu p! attach ments
-~=~~-----__ -.J changes over time. Also, this subject line doesn't really make sense to me.
I CAN'T WAIT TO MEET YOU IN PERSON. WHERE DO YOU LIVE? I HAVE ALWAYS WANTED TO MEET A MAGICAL
ELF AND I DREEMED OF LIVING IN A FORREST AS A SMALL CHILD. MAYBE WE COULD HAND OUT IN YOUR
MOM'S BASEMENT SOMETIME.
PEACE,
BADDDOGG DO use spell check before you hit send .
DON'T put anything in an email that you don't want the world to see. Atlas this is fairly creepy.
Atlas there is nothing 'bad' about you .
DON'T write a message in capital letters - this is the equivalent of SHOUTING!
I can only imagine what this would look
like to the poor girl.
From: [email protected]
To: Magical_ [email protected]
CC:
Subject: Do you like gypsy swing music?
attachments
DO make your request in the first line of your email, especially a business email. (And if that's all you need to say, stop there!)
Dear Marie,
I'm intrigued by your series of charming emails and I wonder if you might want to meet face to face sometime. I know a lovely coffee shop downtown whose coffee is as strong as their wait staff is surly. They also have live music on the weekends, so if I turn out to be a huge bore you could just listen intensely and then slip out the back door. :)
This weekend they are featuring a really good gypsy swing band and I'd love the pleasure of meeting your acquaintance. I've enjoyed our email banter and I am sure that you are even more enchanting in person. Also, my cell number is 503-897-5245 if you want to chat directly.
All the best",--=======~
Atlas
DO end your email with a brief Sign-off such as, "Thank you ." For business emails, follow with your name and contact information.
Yeah, I wouldn't go that route. How
about this instead?
I guess you fancy yourself to be a regular
Cyrano de Bergerac with all your love letter tips. Does that
really work?
Only one way to find out for sure!
A Iso / take down the Facebook page where you are dressed like Obi-Wan Kenobi and warn all J edi not to return to the J edi
headquarters in Coruscant In fact/you should Google yourself and make sure nothing else wei rd is out on the
Net.
It's got to be more effective than your
'creepy stalker' approach.
Your honor, I rest my case.
Of course, good communication skills can help you in all of
your interpersonal relationships. See A tlas! It seems even the
old professor has more game than
you.
Today's class focuses on a model of the communication process. For most effective communication, the basic goal is the same. You want to effectively and efficiently convey a thought that you have to someone else. How well you communicate your thought depends on a number of factors.
Noise
Sender Encoding Message Decoding ~ Feedback (via Medium)
Model of Communication Process
For example, let's say you want to ask someone out on a date. You may be thinking something as
simple as the question: Will you go out with me? In this scenario, you are the sender - the person who
wants to send a message. You must
then convey, or encode, this
Do you like movies?
I love Kung Fu movies. Good idea! I'm going to go home and watch
one now.
Of course, the problem is that this question may not effectively convey the question you are really asking.
The choice of medium could have a
LOL. He either
loves me or he's
laughing out loud.
significant impact on how the message ..... - ............ ..
In addition to different ways words can be used and conveyed, your choice of medium, or communication channel, can impact communication. For example, you could ask someone out by speaking face-to-face, over the phone, through a text message, through an email, or through a letter.
is interpreted by the receiver - the person who receives the message. Hopefully, they are able to correctly interpret the message you are trying to convey.
Hopefully they are able to decode, or correctly interpret, the message you are trying to convey and then provide feedback concerning elements that are unclear.
The channel, or medium, used to communicate a message affects how
accurately the message will be received. Channels vary in their "information richness." Information
rich channels convey more subtle and nuanced
information. The key to effective communication
is to match the
Noise can potentially get in the way at each step of the process.
communication channel with the goal of the
communication.
Communication Channel (Medium)
Face-to-face Emails and texts Formal written conversation documents
Pros: Potential Pros: Can convey Pros: Can be read by for instant facts quickly and many people and
High feedback and inexpensively provides a record of Low Information useful for the message Information Richness conveying emotion Richness
or a sensitive message
Cons: Less time to Cons: Difficult to Cons: Minimal ability think through convey emotions to convey feedback message you are such as sarcasm trying to convey and sincerity
Oral communication
makes more sense when you are conveying a
sensitive or emotional message.
This probably applies to asking someone out too - face-to-face is a
more effective plan if implemented well.
Sure, but if you tend to choke in those situations, Mr.
Internet is a most useful messenger.
Hey David! I just got a text from
Emily! She wants to know if I have any
cute friends!
Dude! Can you try and pay attention for five
minutes?! You said yes ... right?
I heard they let go of Steve in
accounting.
Yeah, Flanagan fired him in a Friday
afternoon email.
You might feel uncomfortable conveying an emotionally laden message verbally, especially when the message contains unwanted news.
The meaning, which the receiver assigns, may
not be the meaning that the sender intended,
due to factors such as noise. Noise is anything that interferes with or distorts the message
being sent.
For example, noise can be external in the
environment, such as distractions.
Noise can be within the receiver. For example,
the receiver may be highly nervous and
unable to pay attention to the message.
Do u have an'l cute friends?
The economy is doing great.
You promised we could go to the zoo.
I said IF you cleaned up your
room in time.
Filtering may occur if the sender purposely distorts or withholds information to manage a person's reactions.
Selective perception is the personal filtering of what we see and hear so as to suit our own needs. Often, much of this process is unconscious. We are bombarded with too much stimuli every day to pay equal attention to everything, so we pick and choose according to our own needs.
Three minutes?! I doubt that very
much ... Wait I got another text from
Emily!
Information overload. One study found that many workers can only do about three minutes of uninterrupted work on anyone task before being interrupted by an incoming email, instant j message, phone call, co-worker, or other distraction.
How could this Y2 K be a problem in a country where
we have Intel and Microsoft?
Use of jargon (language of specialized terms used by a group or profession). Excessive use of jargon has become such a problem that some have created a game called buzzword bingo that has been used by executives in meetings to lampoon such word use. You might find it amusing that one occurrence of buzzword bingo was associated with MIrs university graduation when AI Gore, then the Vice President of the U.S., was speaking at a commencement and many students had buzzword bingo cards containing many of the high-technology terms he was known to use.
As certain sports, such as basketball, have grown in popularity in countries such as China, sportscasters have had to be careful to create new terms since many of the expressions we use in the u.s. such as 'airball' might make little sense in other countries.
It will be done tomorrow. No
problem.
This leads me to cultural differences. Different experiences common to people in a specific setting could also affect communication. The setting could be geographic, religious, or professional. For example, many Indian nationals feel uncomfortable saying "no." So, this could create communications problems if a u.S. manager asks them to complete an unreasonable amount of work.
In the US, looking someone in the eye when talking is considered a sign of trustworthiness. In China, by contrast, a lack of eye contact conveys respect, especially when subordinates talk with their superiors.
Fo' shizzle my nizzle!
We're finally here at Hogwart's School of
Philosophy!
You might also be interested to know that the titles of many movies created in the u.S. are often changed for foreign distribution. Also, the first Harry Potter book was entitled Harry Potter and the Philosopher's Stone in the U.K. but changed to Harry Potter and the Sorcerer's Stone in the u.S.
Miscommunications can arise between individuals of the same culture as
well. The different, and often
multi-cultural identity of
individuals in the same organization can lead to some
Howdy! I'm Bucky Goldstein!
unexpected, and potentially large
miscommunications.
The same individual can be a member of many cultures, all of which may come to bear on interpretation of certain words.
For example, during the Cold War, the Soviet leader Nikita Khrushchev told the American delegation at the United Nations: "We will bury yoU!" in Russian. His words were interpreted as a threat of nuclear annihilation. However, a more accurate reading of Khrushchev's words would have been: "We will overtake yoU!" referring to economic superiority. The fear and suspicion that the U.S. had of the Soviet Union at the time led to the more alarmist and sinister translation.
OK David, here's the plan. When the girls get here, let's tell them all about the restaurant. How can they resist a
dynamic duo of dazzling young entrepreneurs?
I'm almost sure women like men to tal k about
themselves. How else will they
know to be impressed?
So, I hope today's lessons will lead you to
create more carefully
constructed, and effective,
communications in both your
personal as well as professional
lives. Class dismissed.
I'm not so sure that's a good idea. I suggest we ask them
questions to get to know them better and see where that leads.
Hey, I have no problem
getting dates.
Yeah, it's getting second dates where your
problems come
Nice to meet you. We were
just embarking
upon a fascinating
topic.
As a matter of fact ...
We were discussing how we wanted to ask you a
few questions about what you find to be the most interesting first date
topics.
I hope you aren't going
to tell us your life story like the last
date I went on.
Well you must be David. Atlas told me you have a smooth tongue. This is a perfect
conversation starter because Nikki here is a communications
major.
I think the best was "Let's make I ike fabric softener and
snuggle."
My worst was "Your eyes are the same color
blue as my Porsche."
My friend Jack wants to know if you'll go out to dinner with
him Friday.
I did not ask you to dinner.
I asked your friend out I and we had dinner last weekend.
I did not ask you to dinner.
I have no recollection of that conversation.
I did not ask you to dinner.
I think part of our point is that it's not just what a guy actually says, but how he says it. Just think about a simple statement like "I did not ask you to
dinner." A minor inflection changes the meaning completely.
L0 iLL You. 40 O(A~
lvi1t\ ME-7 tjeS 0 c.~t
ONE
NOD=: v
I did not ask you to dinner.
You said you wanted to go
with me to the Star Trek
I thought you were joking!
A communication
freezer is something
that puts an end to the
conversation. Maybe
something that makes
you feel judged,or stupid, or defensive.
I think another key for guys is to keep the
conversation moving. A lot of guys clam up or pullout their worst communication
freezers.
Instead of telling you some examples why don't I show you
some? Did you know they're doing speed dating in the back
room tonight? Let's take a peek.
Communication freezers?
You had better
If she's telling me what to do now I wonder
how
Let me give you the facts! 5070 of all
relationships end in tragedy!
Attempting to educate the other person can often be a freezer.
Oh my gosh! You can't be
for real!
Moralizing or telling the other person what they ought to do can be off-putting.
You should lose that
dark lipstick. You look
like a
you're a lovely person. You can do a
lot better than me!
Think about the positive side. Now that your cat died, you don't have to
spend any money on cat food!
Wow! I'm being psychoanalyzed in
the first 3 minutes of a
speed date.
Making light of a problem by joking about it can be a freezer.
Like that guy gnawing on his bottom lip. He's obviously
uncertain and insecure.
It has been said that a smile is the most universal expression
across cultures.
And look at all that we can pick up from
people's body language!
C'mon day dreamer, our table
is ready.
When someone else is speaking
to you, personally or as part of a
group, do you A: Sit back in your seat, waiting to
speak, or ...
A strong handshake shows confidence.
That's a great po i nt. However, the meaning of a simple touch differs between individuals,
genders, and cultures. In Mexico, when doing
bus i ness, men may find themselves being grasped
on the arm by another man. To pull away is
seen as rude.
B: Lean forward a bit, to better hear - and see - what's really
being said.
Yes, it's key. Looking someone in the eye (for about a second) is
considered a sign of trustworthiness. Just staring at someone can
be
Or a snappy high five.
Kissing on the cheek in other
cultures is common as a
greeting, but does not necessarily
reflect romantic interest.
The last key to effective
communication is listening.
You can be a passive
I istener or an active
listener.
For example, active listeners make eye contact, are able to summarize key thoughts, and ask appropriate questions. Passive listeners will hear a kind of "blah blah blah" as you wait for your
turn to speak.
Well, this has been most interesting! Speaking of paying attention to an important speaker, I
recall you saying that you parked fairly far away. Would you give me the pleasure of
walking you to your car?
Well Atlas, right now I'm making eye contact with you. I'm attentive to your words. Standing very close. What message do you think I'm
tryi ng to convey?
I'd love to!
You have one night to
complete a business plan. Make it a good
one.
Hey, where did he go? Do you bel ieve me now? I told you I wasn't making
this guy up!
I guess we need to pu II an all-nighter now. Hey David, any
chance your mom made cookies?
So, here we are. Finally writing that business plan.
You know what they say, he who plans to fail, fails
to plan.
Uh, I think you got that one backwards
buddy.
In conclusion ... I think this
business plan deserves a
celebratory high five!
But, I do think we need to brainstorm some specific
ideas.
Look at my
version.
Business Plan for No Cover Cafe 1. Overview of the company.
No Cover Cafe will be a locally owned and operated restaurant that features nightly live
music.
2. Strategy (including location and pricing).
The No Cover Cafe wi II offer live music nightly based on local talent readi Iy avai lable in a
university town. Our rrenu will focus prirrarily on moderately priced, distinctive, pizza. This
wi II include unique offerings such as Phi lIy Cheese Steak Pizza, Asian Eggroll Pizza, Thai
Pepper Pizza, and other unique offerings. In terms of location, we will be located within
walking distance of campus to allow for easy access for students without cars.
3. Target 117Drket analysis.
The pri rrary target rrarket for the No Cover Cafe wi II be college students and university
faculty and staff.
4. Competitive analysis.
There are a number of local restaurants, franchises, and other restaurant chains that
compete for rrarket share and custorrers. The No Cover Cafe is the only high-end pizzeria
in a 50-mi Ie ran of the Universi
5. Marketing stf'Dtegy.
Marketing wi II be accomplished through local newspaper ads, fliers, and through the bands
that appear and play at the No Cover Cafe.
6. Sumll7Dry of risks.
Risks include lack of custorrer base, employee turnover, and the need for food and beverage
licenses.
7. Organization and 117Dnagement team.
Atlas Black and David Chan wi II co-own and operate the No Cover Cafe as a partnership.
8. Funds needed/Break-even analysis.
$200,000 in startup capital will be needed to pay 6 months rent, purchase necessary
supplies, hire employees, and pay rranagerrent unti I the store rrakes money.
I think the last thing we need is
an elevator speech.
For example, pretend I'm the
bank loan officer and you are maki ng the pitch for the
No Cover Cafe. What would you
say?
Show me the money!
Now it sounds like you're a bandit.
Um, no. An elevator speech refers to some sort of quick pitch. It could be an individual's pitch for a job, or an entrepreneur's pitch for a business. The
idea is that you could come up with a concise
story that could be presented in the time it would take during an
elevator ride.
I don't think that wi II be remotely
effective.
Give me all your money!
Fortunately, I've written up some note cards for just such an occasion.
When interviewing for a job or more specifically for
pitching our business plan, you might think about how to
incorporate elements of an entrepreneurial orientation: autonomy
competitive aggressiveness, innovativeness, proactiveness,
and risk-taking.
Competitive Aggressiveness
Application for Individuals Interviewing: Show how you are working hard to differentiate yourself from others on the job market, and be able to answer the question: Why should I hire you versus someone else?
Application for Pitching a Business Plan: Mention ways we can directly challenge competitors in a tight market. For example, the extra marketing we will have for the No Cover Cafe since local bands will spend extra time and effort to promote their band, and thus, bring business to the restaurant.
Proactiveness
Application for Individuals Interviewing: Demonstrate an ability to think ahead, and anticipate employer questions.
Application for Pitching a Business Plan: Highlight how we will examine trends and anticipate future needs.
Autonomy
Application for Individuals Interviewing: Show an ability to develop independent thought and not need to be given step-by-step instructions. (Many Generation Y students are criticized for behaviors that seem to lack autonomy - for example, going with friends to career fairs.)
Application for Pitching a Business Plan: Discuss our ability to make the No Cover Cafe vision a reality and bring our idea to completion.
Innovativeness
Application for Individuals Interviewing: Be able to highlight how you can provide new and creative ideas or processes for future employers.
Application for Pitching a Business Plan: Make sure to mention our novel concept, new ideas, and creative experimentation processes in booking new bands and coming up with unique pizza concepts.
Risk-taking
Application for Individuals Interviewing: What unique student activities have you engaged in that involved risk? Have you helped to start a new business, run for an elected student government office, or been involved in some other work or student project that involved elements of risk?
Application for Pitching a Business Plan: Discuss our ability to tolerate uncertainty, engage in high-risk projects, and take the bold actions needed to make the No Cover Cafe successful.
Well, tell me a little bit about your
business concept.
I've brought together a
portfolio that I hope will work.
Wow, you have a comic book collection that has been appraised at over
$100,000.
Well, your business plan is sound and this town
could use a few more restaurants and entertainment
venues so I'm going to give you a shot.
Mr. Black and Mr. Chan, Ms. Reeves is ready to meet with
you.
The No Cover Cafe will offer distinctive pizza dishes and feature live music nightly.
The concept is to provide a high value entertainment experience with a budget
suitable to college students. We believe that our choice of unique pizza offerings and live music will allow our customers to maximize
their entertainment dollar. Here's our formal business plan with attached financial
statements.
L
Man, that was awesome. When you pulled out those cash flow statements it was like, game over, give me my money. And then when I showed her the
comic portfolio. You should have seen your face. I am so glad
that meeti ng is over!
Yeah, I'm glad it's over too, but I think
you're going to find that in the grand scheme
of things, getting the
money is actually going
to end up being the easy part.
THE STORY SO FAR ...
Atlas Black sure talks a lot, but is he really communicating anything? After thinking quite a bit about their No Cover Cafe, Atlas and David took a much needed social break. With the help of Lisa and Nikki, they learned that not all communication is verbal. Oh myl
Effective business correspondence requires understanding the best communication channels to use as well as the information richness of each medium. Atlas also learned to write professional emails, to reduce noise, and to avoid communication errors such as filtering, selective perception, and information overload.
Atlas came to understand that avoiding communication freezers can help you in business as well as in speed dating. Freezers - such as making someone feel judged, stupid, or defensive - often put an end to a conversation. Eye contact is important for establishing rapport - about one second is good. More than that can be a little too intense.
The boys got down to business and finally wrote their business plan which included an overview of their company, strategy, target market analysis, competitive analysis, marketing strategy, summary of risks, organization and management team, and funds needed based on their break-even analysis. Their hard work paid off as they secured a business loan.
IN OUR NEXT EPISODE ...
Coming up, Atlas will learn that not all conflict is bad, not all negotiations are easy, and that starting a business is more than fun and games. As Atlas and David learn to thrive on chaos, they'll also need to learn how to manage their own stress levels, analyze their ethics, and negotiate effectively to finalize plans for the No Cover Cafe.
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