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Entrepreneurship Chapter 9 The Organizational Plan PDF
Entrepreneurship Chapter 9 The Organizational Plan PDF
Peters and
D.A. Shepherd, Mc Graw Hill Irwin, Copyright 2010.
Continuity of Business
The main concern of a new venture is what happens if one of the entrepreneurs dies or
withdraws from the business.
Partnership agreements should detail this issue.
How do we add family members as time goes by?
How do we determine who should succeed the entrepreneur?
The ability to raise new capital will depend upon the format of the business.
The entrepreneurs will want to maintain as much management control as possible.
There should be a legal agreement to distribute profits and losses.
Organizational Culture
You will need to consider personality and character of each individual to create a
viable organizational culture.
The organizational culture will be a blend of attitudes, behavior, and dress and
communication styles.
The desired culture must be outlined in the business plan.
The leader of the organization must create a workplace where communication from
the bottom up is encouraged.
The entrepreneur should be flexible enough to try different things,
It is necessary to spend extra time in the hiring process.
You need to remember that it is easier to change a person’s behavior than attitude.
A positive organizational culture is challenging but necessary to the organization’s
success.