Research Paper (undergraduate) from the year 2016 in the subject Business economics - Company formation, Business Plans, grade: 1,7, University of Applied Sciences Rosenheim (Wirtschaft), course: Betriebswirtschaftliches Seminar, language: English, abstract: To have a great idea for a Start-up is a very good predisposition for a successful business. Despite this amazing thought, unfortunately a lot of Start-ups fail at the beginning. According to the statistics 34% of entrepreneurs are 20-29 years old and 40% are between 30-39 years old once they start their first business. Most of the people in this age are already well-educated and they do not have many savings. It makes them look for alternatives, which could support the first critical years of their Start-up. At the beginning no one wants to invest in an unknown business, which leaves them with the idea of borrowing money elsewhere. As a matter of fact, no one wants to take a disadvantageous loan, so young entrepreneurs usually ask their family and friends for help, but by taking this kind of money, they are putting the good friendships and relationships at stake. So what are the options? Where can a fresh entrepreneur start looking for help and financial support? The answer should be clearer after reading this paper. The goal we are trying to reach, is to give a better overview of the options of financing, the advantages and disadvantages of different methods and show it on real life examples. One of the most important thing is to be well informed about the possibilities which are available, so it may come to the realization of the original idea and building of a successful Start-up. In order to give a better insight on this topic, we will also choose existing Start-ups and analyse what methods they have used, how they were implemented and what they had to give in return. We will pick not only from the successful ones, but also from the less fortunate businesses as its important to understand the know-how of winners just as important as to know the mistakes of others.
Leverage the power of failure in your organization Nobody wants to fail, but failure is a fact of life. Most of us treat it as a regrettable, even shameful, event best overlooked. In truth, failure can be a game-changing strategic resource that can help you and your organization achieve the greater success you crave. The Other F Word shows how successful leaders and teams are putting failure to work every day - to re-engage employees, spark innovation and accelerate growth. Authors Danner and Coopersmith - with their rare blend of senior-level executive experience, global advising, teaching acumen and cross-discipline perspective - share these valuable new practices, and show how they can improve results across your organization. Based on exclusive interviews with prominent leaders and insightful examples from their own in-depth work, the book features a practical seven-stage framework to liberate failure as a force to advance your leadership agenda. After all, everyone creates and confronts failure on a daily basis. Why not use it to your advantage? The Other F Word shows you how to: Start an open, productive conversation about failure across your organization Reduce the fear of failure that stifles initiative, creativity and engagement Anticipate, prepare for and respond to failure, so you can leverage it when it happens Harness failure as a catalyst to drive innovation, improve performance and strengthen culture Failures like gravity – pervasive and powerful. Whether youre a leader or team member of a startup, a growing business, or an established enterprise, failure is todays lesson for tomorrow. Let The Other F Word show you how to apply this lesson and take your company where it needs to go. JOHN DANNER is a management consultant, professor, and entrepreneur. He advises global enterprises and emerging ventures, and anchors international executive education programs. He teaches innovation, entrepreneurship, strategy, and leadership at the University of California Berkeley and Princeton University; and conceived the idea for TED U[niversity]. A frequent keynote speaker at conferences on five continents, he and his wife live in Berkeley, CA and New York City. Visit www.JohnDanner.com MARK COOPERSMITH is a corporate executive, entrepreneur, strategic advisor, and professor. A Senior Fellow at UC Berkeleys Haas School of Business, he teaches innovation, entrepreneurship, and leadership to students and executives from around the world. He has built and run global businesses for Sony and Newell Rubbermaid, has launched successful Silicon Valley startups, and speaks often to audiences internationally. He and his family live in Tiburon, CA. Visit www.MarkCoopersmith.com
Designed for families planning to draft a Family Agreement, families deciding whether or not to begin the process, and those that have already established a Family Agreement, this book illustrates the fundamental components and their importance to the success of the family business.
Succession in Asian Family Firms examines the history and survival of family businesses in the South Asian Diaspora from an international perspective. The book presents unique research across three continents, focusing on significant communities in the UK, USA and Kenya. The book analyzes the influences on both the start up and survival of family firms, exploring how family members negotiate their working practices. The discussion provides a new perspective on issues central to the debate on family business succession whilst developing ideas on less familiar areas such as the role and influence of women through different cultural contexts.
Identifying and developing leaders in a family business can be more difficult than traditional business. Here Aronoff and Baskin discuss the different styles of leadership and what style might work with what family member including the Directing Leader, the Coaching Leader, the Counseling Leader and the Delegating Leader. CRAIG E. ARONOFF Co-founder, Principal, and Chairman of the Board of The Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University, USA. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide. OTIS W. BASKIN Associate of The Family Business Consulting Group, Inc, Professor of Management at The George L. Graziadio School of Business and Management at Pepperdine University, USA, and the founding Director of the Family Business Forum at The University of Memphis.
Healthy growth is critical to the future of any business - too many rash decisions can lead to the demise of a family business. Author Jennifer Pendergast provides readers with practical knowledge to help determine whether to grow, what type of growth is healthy and sustainable and what the future potential is for any business. JENNIFER M. PENDERGAST, Ph.D Senior Associate of The Family Business Consulting Group, Inc. She specializes in strategic planning, family and business governance, family office structure, and facilitation. Jennifer is an experienced management consultant with an extensive background in the many strategic challenges faced by family firms serving a broad range of clients, ranging from startup to Fortune 500 companies, in both for-profit and non-profit arenas. With a Ph.D. in strategy, Pendergast has taught at Emory Universitys Goizueta Business School, Georgia Tech and The Wharton Business School. Her teaching experience spans undergraduate, MBA and executive level programs.
Compensation is one of the most discussed items in business. And in a family business it gets personal. Authors Aronoff, McLure and Ward answer the some of the most important questions when it comes to the family what is fair pay among family members? How do I determine appropriate pay for my child? What should I pay my shareholders? CRAIG E. ARONOFF Co-founder, principal, and Chairman of the Board of The Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University, USA. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide. STEPHEN L. McCLURE Principal at the Family Business Consulting Group, Inc. and specializes in family communications and decision making, succession planning and implementation, and governance & management in family firms. JOHN L. WARD Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management, USA and teaches strategic management, business leadership and family enterprise continuity.
Strong family governance can create an environment of smooth decision making, cohesiveness, effective conflict resolution and a directive that moves the business forward. Authors Aronoff and Ward show leaders why a strong governance is critical to taking families from one generation of success to the next. CRAIG E. ARONOFF Co-founder, Principal, and Chairman of the Board of The Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University, USA. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide. JOHN L. WARD Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management, USA, and teaches strategic management, business leadership and family enterprise continuity.
Jörg Schäfer investigates the influence of family firm specific decision rationales based on socioemotional wealth on vertical and horizontal pay ranges in family firms. Building on a primary data set of over 200 family firms in Germany and applying multiple regression analysis techniques, as well as, the firm conceptual foundation in family firm and compensation theory, the presented study provides answers regarding antecedents of pay variation, and the factors that drive different family firms to pursue and implement specific pay structures and pay variations. Furthermore, the dissertation contributes to the current research discussions, by partially validating the FIBER scale, proving the heterogeneity of family firms and adding robustness to methodology and range measures in the compensation context. Dr. Jörg Schäfer wrote his dissertation under the supervision of Prof. Dr. Andreas Hack at the Witten Institute for Family Business (WIFU) at Witten/Herdecke University.
Hiring and working with non-family managers can present challenges to the family business. However, it is essential to create an environment in which non-family managers can suceed for the good of the business and the good of the family. This book explores the processes of hiring, managing, and retaining talented outside executives.