Tags |
|
|
Links |
|
|
Other Added - Ownership versus Management: Be Sure There Is A Difference
Making the decision to participate as a vendor in a trade show is a commitment. You are pledging your time, money, energy, and other resources. You involve your staff. You put much effort into the planning process.Before you leave for the next trade show, confirm all of your reservations. Ensure that your travel plans, hotel, rental car, and other accommodations are in place. If you are traveling to place you have not been before, research the address in advanc
Q. My daughter, still a 25% owner in our business, used to work here full time as our retail store manager, but now that she has two small children, she only comes in occasionally to work on speci
Managers and leaders who are overly negative and critical in the name of facing reality alienate their employees and customers, close down honest and open dialogue in their organizations and foster cynical, hopeless and lifeless cultures. Ignoring the positive while focusing only on the negative can be a form of management malpractice. But management malpractice will never be stopped if that’s all we expect from the managers and leaders of our organizations. The danger in
I began to figure this out several years ago when I bought some IBM stock. I wrote a letter to the president of IBM explaining why I felt that they should place less emphasis on their mainframe computer business and spend more time marketing PC's. I received a nice form letter from the shareholder relation's department; I’m sure IBM’s president probably receives a lot of unsolicited advice from stockholders.
In my consulting practice, the following are several questions I have been asked by business owners:
Q. Should the daughter of the owner who stands to inherit a portion of her father's company have any say-so in the management of the company?
A. No, unless she also is a member of the management team.
Q. The owner's daughter married one of the company's outside salespeople. How long should the owner's new son-in-law continue to work in the business before he's promoted to sales manager?
A. Until he has earned the respect of the other members of the management team and until he becomes the most qualified person for the job. It's extremely demoralizing to other employees when family members are shown favoritism.
Q. My two sons each own 25% of the business. One is an outside salesperson and earned $92,000 last year in commissions; the other is a buyer and I pay him $51,000. The buyer son says that I am treating him unequally. How do you recommend that I respond?
A. The rule in family matters is to treat kids equally, but in business the rule is to treat the kids equitably. Pay offspring who work in the business on the basis of their value and contribution to the business.
Q. My daughter, still a 25% owner in our business, used to work here full time as our retail store manager, but now that she has two small children, she only comes in occasionally to work on specia
I won't say I have a vast array of knowledge as a consultant...collectively I've only been doing it about 8 years. However, there are some things that I have observed that I think will be helpful to those of you who are new to the profession. We will first dispel the myths and address the realities associated with being a Consultant, then we will address the commandments of being a good and valued consultant.CONSULTING: MYTH AND REALITYMythConsul
In my consulting practice, the following are several questions I have been asked by business owners:
Q. Should the daughter of the owner who stands to inherit a portion of her father's company have any say-so in the management of the company?
A. No, unless she also is a member of the management team.
Q. The owner's daughter married one of the company's outside salespeople. How long should the owner's new son-in-law continue to work in the business before he's promoted to sales manager?
A. Until he has earned the respect of the other members of the management team and until he becomes the most qualified person for the job. It's extremely demoralizing to other employees when family members are shown favoritism.
Q. My two sons each own 25% of the business. One is an outside salesperson and earned $92,000 last year in commissions; the other is a buyer and I pay him $51,000. The buyer son says that I am treating him unequally. How do you recommend that I respond?
A. The rule in family matters is to treat kids equally, but in business the rule is to treat the kids equitably. Pay offspring who work in the business on the basis of their value and contribution to the business.
Q. My daughter, still a 25% owner in our business, used to work here full time as our retail store manager, but now that she has two small children, she only comes in occasionally to work on speci
Raising money for your favorite charity or organization can be fun, but challenging if you have never done it before. This article will help you make your next charity fund raising event a winner.There are a few key points to managing the ideal charity fund raising event. Once you have some of the basics in order you can proceed with a solid fund raising plan.Who will be on the fundraising committee?If you have a few people who could potentially help r
A. No, unless she also is a member of the management team.
Q. The owner's daughter married one of the company's outside salespeople. How long should the owner's new son-in-law continue to work in the business before he's promoted to sales manager?
A. Until he has earned the respect of the other members of the management team and until he becomes the most qualified person for the job. It's extremely demoralizing to other employees when family members are shown favoritism.
Q. My two sons each own 25% of the business. One is an outside salesperson and earned $92,000 last year in commissions; the other is a buyer and I pay him $51,000. The buyer son says that I am treating him unequally. How do you recommend that I respond?
A. The rule in family matters is to treat kids equally, but in business the rule is to treat the kids equitably. Pay offspring who work in the business on the basis of their value and contribution to the business.
Q. My daughter, still a 25% owner in our business, used to work here full time as our retail store manager, but now that she has two small children, she only comes in occasionally to work on speci
Admiral Hyman Rickover was an extraordinary individual whose achievements were the result of his whole lifes work. He was known for his dedication and an attention to detail that was key to learning the lessons that formed the basis of the United States Nuclear Submarine fleet.He was alleged to have taken the first dive with every new submarine in the U.S. fleet and if ever something seemed like it was going wrong during the dive, he would calmly go to the compartme
Q. My two sons each own 25% of the business. One is an outside salesperson and earned $92,000 last year in commissions; the other is a buyer and I pay him $51,000. The buyer son says that I am treating him unequally. How do you recommend that I respond?
A. The rule in family matters is to treat kids equally, but in business the rule is to treat the kids equitably. Pay offspring who work in the business on the basis of their value and contribution to the business.
Q. My daughter, still a 25% owner in our business, used to work here full time as our retail store manager, but now that she has two small children, she only comes in occasionally to work on speci
There are many misconceptions in the minds of the small business owners about the exporting basics in international trade. In their opinion, it is very difficult task. They feel that you need to have reach to extensive resources, a very big department exclusively devoted for the marketing purpose, extra ordinary control over the language spoken in the target countries and big quantity of the marketable product. However, the reality is altogether different from this misconc
Q. My daughter, still a 25% owner in our business, used to work here full time as our retail store manager, but now that she has two small children, she only comes in occasionally to work on special assignments. When she comes in the store, the store manager who replaced her says she still tells the retail sales staff what to do. When I spoke to her about it, she said that --as an owner -- she feels she has the right to say anything she wishes to anyone she wishes. What's your opinion?
A. Violating lines of authority is one of the biggest mistakes an absentee owner can make in a family business. She is totally out of line when she usurps the new store manager's authority. She should never issue a directive to an employee who reports to another manager. If she observes something that the manager needs to know about, she should ask the manager’s permission to make a suggestion, and not make it as if she were still an authority figure.
Q. My brother and I are 50/50 owners. I am CEO of the company and my brother has been sales manager for six years. Our sales have gone down for two years in a row and our market share has plummeted. What should I do?
A. Whether your sales manager is an owner or hired hand, the sales manager is accountable for achieving the sales budget. Unless you're prepared to see sales deteriorate further, give him a deadline to get sales moving in the right direction. If he fails to meet the goal the two of you agree on, you have little choice but to replace him.
SUMMARY
Owners who do not work in the business should be rewarded by receiving their fair share of any declared dividends. And if the business is sold, absentee owners are certainly due their share of the proceeds. But ownership and managem
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.otheradded.com/article/42651/otheradded-Ownership-versus-Management-Be-Sure-There-Is-A-Difference.html">Ownership versus Management: Be Sure There Is A Difference</a>
BB link (for phorums):
[url=http://www.otheradded.com/article/42651/otheradded-Ownership-versus-Management-Be-Sure-There-Is-A-Difference.html]Ownership versus Management: Be Sure There Is A Difference[/url]
Related Articles:
Job Interviews - Last Minute Strategies
Key to Starting Your Own Clothing Company
Looking to Increase Employee Performance? Motivation is Critical
Bookmark it:
|