ENT 526 Lecture Notes - Lecture 5: Jack Welch, Moral Support, Sole Proprietorship
5 Dec 2015
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Document Summary
Companies with 2/3 still run and succeed, but they do not grow quickly. 6 advantages of a team: feedback, increased skill set, moral support, capacity innovation, extended network, higher social level of support. Skin in the game: what you have at stake if the business doesn"t succeed: is subjective based on the person. Board of directors: the legal mind of the business operation: invited, not liable, every corporation has one, liable for hr, environmental damage, taxes. Board of advisors: have the goal of helping company succeed, informal, invited, not liable. Types of businesses: sole proprietorship, partnership, corporation (independent person, decreases liability. Corporate veil: the corporations are not liable for the corporation"s actions. Top down: hire at high levels (ceo) from other places. Bottom up: promoting from within (the grassroots level) More ideas are being shared (people dedicated to business and its success) Jack welch, former general electric fired all staff rated 6"s. Shift from low productivity to high productivity.
