entreprenurial management
DESCRIPTION
-Legal Issues: Recognizing small business -Human Resource Management: Small Business ConsiderationsTRANSCRIPT
Legal Issues: Recognizing small
business
Business and the Law
Advantage of understanding legal system;• Help to less intimidated by attorneys and the law• Help to empowered owner
Business and law are inseparable
You need a good Attorney
Four ways attorneys typically charge:1. Hourly Fees2. Flat fees3. Retainers4. Contigency fee
Choosing a Business Name
Trade name Assumed name
When selecting a trade name;• Find one that is memorable and discriptive• In picking a trade name is your own goals
Everything is Negotiable
Four steps to structure a negotiation1. Prepare2. Position3. Propose4. Pounce
Legal Liabilities
The simplest form of liability is Direct liability.
Torts: Responsibility for your actions and the Action of your Employees
Vicarious (indirect) liability
If facing a Vicarious liability• The actor is not an employee, but an independent contractor• The actions were outside the scope of agency
Commonsense to avoid torts
• Develop a strong relationship with costumers• Try to develop client loyalty• Give personal service • Listen to yor costumers
The independent Contractor Argument
Independent contractor
Characteristics of an Independent contractor:• Behavioral• Financial• relational
Contracting
Several kinds of situation in which lawyer takes charge:• Standard contracts• Specialty contracts• Hold harmless agreements
Internet Issues in Contracting
Business to Business (B2B)- Suppliers of Raw materials & Wholesalers and Retailers
Business to Consumer (B2C)- Small business to sell over the Internet
Other issues
• How to handle contracts that are required to be in writing to be enforceable.
• How business handles e-mail
Human Resource Management: Small Business Considerations
Attracting Employees
To attract and hire new talent into a medium to large growing organization; • Help wanted ads in newspaper• The use of an employement service• Internet recruiting• Employee referral
Matching the Worker to the Work
- Writing a job description
- Evaluating Job Prospects- Selecting the right person
Covering the Following areas:• The reason the job exist• The mental or physical tasks involved• How the job will be done • The qualifications needed
Training Employees
To begin, you should first assess your small firm’s training needs from the perspective of the business, the job description and the needs of employees.
Initial and Ongoing Training Methods
On-the-job training• Techniques include orientation• Job instraction training• Apprenticeships• Internships• coaching
Off-the-job training• Television conferences• Special study• discussions• Lectures
Three Guidelines for training
1. Give your employees oppurtunities to use their new skills
3. Think of training as an investment
2. Make training an ongoing process
Rewarding employees
To retain productive employees and increase their job satisfaction and ask them what their needs are. Create
an environment that appeals to them.
Psychological contract
Five factors that are most valuable to employees:
1. teamwork
4. Empowerment
3. Training
5. contribution
2. recognition
Compensation, Benefits and Perks
1. Bonuses and Long term incentives
4. Perks
3. Retirement Plans
2. Health Insurances
Human Resource Issues in the family Business
Nepotism-selecting and promoting people based on family ties
Meritocracy- Selecting and promoting people based solely on their being the most capable employee
Good Human Resource Practices For all Businesses
Key elements:
• Transparent procedures with consistent application• Job Basics
• Task repair
• Lines of communication
• Job Metrics