Management roles in MikesBikes
On the CV, you are to indicate which role(s) you wish to fulfill in the executive team that runs a company in MikesBikes. In teams with less than six members, the work of the missing roles will need to be distributed amongst the team.
The roles and responsibilities are:
Chief Executive Officer (CEO)
Provide oversight of functional areas, coordinating decision feedback and linking it to company performance. Responsible for Executive Team meetings. Track company share price. Communicate and liaise with other companies if necessary. Identify and address company performance issues, if necessary. This role does not require specialist knowledge or expertise in the simulation, but is a challenging and committing role. We especially welcome a diverse mix of CEO candidates.
Chief Finance Officer (CFO or Finance Director)
Develop an understanding of the Finance function within the simulation, especially as it relates to share value. Monitor company finances and provide tactical options for the company to reach overall performance objectives. Communicate with other functional area managers and facilitate financial decision-making as needed. Primary responsibility for weekly financial analysis, policy development and banking decisions, plus maintenance of the company's financial records.
CFOs might find the blog post on The work of a CFO helpful.
Human Resources Manager
Develop an understanding of the HR function within the simulation (i.e., wage rates, quality ratings of plant, hiring/firing), develop an HR strategy for the company, and monitor the company's performance in relation to Human Resources. Communicate with other functional area managers and facilitate Executive Team meetings as needed. This does not mean that you are the CEO's PA! Ensure that Executive Team members understand their roles and work with CEO to maintain a highly motivated Senior Executive Team. In addition to simulation responsibilities, the HR Director is responsible for the evaluation of Executive Team processes and the development of peer feedback and goal setting needed by all team members to complete course assignments.
Develop an understanding of the Operations function within the simulation, develop an Operations strategy for the company, and monitor Operational performance. Communicate with other functional area managers and facilitate Executive Team meetings as needed. Primary responsibility for entering and recording company decisions each week and maintaining records of company operational performance.
Lead R&D initiatives within the company by providing technical and performance data necessary for the Executive Team to meet its corporate strategy for innovation in the marketplace. Communicate with other functional area managers and facilitate Executive Team meetings as needed. Primary responsibility for weekly R&D analysis and investment decisions. Must work closely with whole team to enact company strategic initiatives.
Develop an understanding of the Marketing function within the simulation, develop a Marketing strategy for the company, and monitor company performance in its markets and markets of interest. Communicate with other functional area managers and facilitate Executive Team meetings as needed. Primary responsibility for annual (weekly) market analysis, advertising/sales ratios, and so on.
Yes, but ...
... some people find the roles 'vague'. That is partially because (a) your team needs some flexibility for how it organises itself, and (b) what you do as–for example–a beginner CFO is different to what you do as you master your role. What you do in your role is well worth discussing in-class an on-line with other people in the same role. The commentary provided by other students on the various roles are quite insightful.
How you and your team allocate the work is up to you. Whilst they are 'finding their feet', many teams start off with everyone looking at all the roles; e.g., everyone considers the decisions relating operation. There are benefits to such an approach. However, the best teams rarely run themselves that way for the whole semester–it is inefficient and makes it difficult for anyone person in the team to become deeply familiar with, say, how marketing works. Other teams leave the running of the firm to whoever was 'best' at SoloMike. That approach, which can be effective for one or two rollovers tends to be fatally flawed. It is hard for an individual to be a smart as a team who effectively divide the work up amongst themselves, and who work to master their own roles.