The most heavily skills weighted by the firms will include client management, technical and interpersonal. Smaller firms should have similar criteria because this will help the firm get a great reputation along with a better client list that will help expand business. 4. The advantages of the “up or out” promotion policy includes helping the employees know that the world is competitive, where the employee stand among their current/former peers and it’s something that is already established. The disadvantages of the promotion policy includes inducing more stress for the employees, negative feelings towards the firm when passed over for promotion and the commitment to the firm
To begin with, I believe that working with a business partner has both advantages and disadvantages. One advantage would be that partners can help you make the many difficult decisions in the marketplace. In addition, you do not have to accept full responsibility if your plan does not work out the way you both planned. Some disadvantages would be that you and your business partner must agree on everything you do, and your partner could end up selling their share of the business to someone that you cannot work with. When I worked with a business partner, however, we got along great and agreed on everything we did.
This may lead to timely capitalisation of market opportunities as and when they rise. Confidentiality of information: Sole decision making authority enables the proprietor to keep all the information related to business operations confidential and maintain secrecy. A sole trader is also not bound by law to publish firm’s accounts. Direct motivation: A sole trader directly gains the benefits of his/her efforts as he/she is the sole receiver of all the profit. The need to share profits does not arise as he/she is the single owner.
| Adoption by a business of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic responsibilities expected of it by its stakeholders | c. | A company's attempt to maximize its profits in order to benefit stockholders | d. | All the policies of a company that promote ethical business practices | e. | All businesses except those with less than 50 employees | 2. To which of the following forms of business
Although the business cycle is not as simple as I stated, fundamentally that is how it works, by using their greed business people end up helping everyone instead of hurting, and thus business people are captains of industry. Captains of industry are business leaders who use their personal funds to make a positive impact. The term comes the gilded age when big business was thriving and the
With Harrah’s expanding into multiple markets, management decided a brand approach would provide the greatest value for its shareholders. This approach was not often taken in the gaming industry, but Harrah’s wanted there to be commonalities in their properties no matter what region they were located. They also decided to begin reward programs, further capitalizing on their concentration on superior customer relationships. This was a different approach than their major competitors, who usually used flashy attractions to gain customers. Although this was usually effective, Harrah’s realized that they could take a more cost effective route.
Another huge benefit of IPO’s is that the capital raised from going public does not have to be repaid. It serves also as a means of attracting and retaining quality personnel. A company with publicly traded stock has a powerful tool to attract and retain staff. Employees that own stock in the company often have a strong incentive to act in its best interest in order to gain a return on their investment. The stock of a public company can be used to finance future acquisitions, which is important for the long-term strategy plans for l expansion or other strategic opportunities.
An entrepreneur is a person who organizes and operates a business or businesses, taking on financial risks to do so. Like a manager that Josh is, being a successful entrepreneur requires many different characteristics: Being able to plan Managing money Staying organized Confidence Risk- taking Open- minded Knowledgeable Tenacity Competitiveness Decisiveness Integrity Planning- In business you should always plan, the ability to plan is one of the many characteristics an entrepreneur should have. Writing a business plan can save you a lot of time and money, it is the best way to test if your idea is realistic. 1) Do you know what your business will be good at? 2) Do you know where you hope to be in the next 3 years?
Do you feel the analysts' concerns are legitimate, or would you conclude from the case that Gore's strategic management process, or lack thereof, is effective? I think analyst’s concerns are legitimate. It seems Gore’s competitive advantage is innovation and his leadership style where he motivates people to lead themselves. Gore’s management process is effective to certain extent but as the industry gets competitive, formal strategic management process will help the organization to prosper further and keep the leadership position. Rivalry: Oracle is operating in very competitive market place.