Download - Entreprenurial management
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Legal Issues: Recognizing small
business
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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
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You need a good Attorney
Four ways attorneys typically charge:1. Hourly Fees2. Flat fees3. Retainers4. Contigency fee
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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
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Everything is Negotiable
Four steps to structure a negotiation1. Prepare2. Position3. Propose4. Pounce
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Legal Liabilities
The simplest form of liability is Direct liability.
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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
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Commonsense to avoid torts
• Develop a strong relationship with costumers• Try to develop client loyalty• Give personal service • Listen to yor costumers
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The independent Contractor Argument
Independent contractor
Characteristics of an Independent contractor:• Behavioral• Financial• relational
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Contracting
Several kinds of situation in which lawyer takes charge:• Standard contracts• Specialty contracts• Hold harmless agreements
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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
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Other issues
• How to handle contracts that are required to be in writing to be enforceable.
• How business handles e-mail
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Human Resource Management: Small Business Considerations
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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
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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
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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.
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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
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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
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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
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Five factors that are most valuable to employees:
1. teamwork
4. Empowerment
3. Training
5. contribution
2. recognition
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Compensation, Benefits and Perks
1. Bonuses and Long term incentives
4. Perks
3. Retirement Plans
2. Health Insurances
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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
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Good Human Resource Practices For all Businesses
Key elements:
• Transparent procedures with consistent application• Job Basics
• Task repair
• Lines of communication
• Job Metrics