Scenario B:
You are an entrepreneur that has just received full Venture Capital funding to launch your new invention. This is a plug-in electric unit that you can slip under any object or person which will levitate the object or person from 1 to 6 inches above of the floor or surface it is on. Your prototype design is finished and proven, and goes into production in 6 months to be ready for the holiday shopping season.
Note: Since you have limited information in the above scenario, you may need to make assumptions to answer the questions below. If you do make assumptions, just include them in your answer.
1. New Venture book, Chapter 1 - using exhibit 1.1 (page 5) identifies the differences between managers and leaders. For your new venture to be successful, what should be the % split for _70___ % management vs. __30__% leadership behaviors/practices and provide the reasoning (the why)? The percentage should be higher for management because he or she has the capabilities of planning, budgeting, organizing, staffing, controlling, and problem solving. Managing employees and other resources will allow management to achieve most organizational goals efficiently and effectively while producing the best results Also, manager has the potential to consistently produce key results that investors are expecting and the job can get completed through others.