ACCTG 1 Lecture Notes - Lecture 2: Guerrilla Marketing, Utah Transit Authority, Viral Marketing
Document Summary
Chapter 8 launching your business: people, people, people. You can recruit people on a number of different bases: full/part-time, regular hours/shift work, fixed-wage or salary/commission/piecework. If you are short in cash you may offer incentives such as target linked bonuses, shares or share options. Sweat equity refers to shares that reflect the cash, intellectual property or simply the time and effort someone has brought in to get the business off the ground. Once you have people interested in joining your team, you need to shortlist those that meet your person specification and then interview those shortlisted to assess their suitability. Shared cognitions refers to shared goals and effective communications and transfer of knowledge between partners; helps individuals with different functional background to reach consensus. Conflicts takes to forms: relationship conflict (not beneficial, erode cohesion within the team negatively affecting performance) and task conflict (can be productive and beneficial).
