AEM1230-1116ToPost

AEM1230-1116ToPost - AEM1230 Principles of Entrepreneurship...

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AEM1230 Principles of Entrepreneurship and Business Monday 11/16 Human Resources Management in the Startup Growth as the trigger The role of leadership Recruiting and hiring Motivation and rewards Maintaining fairness Solving conflicts
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Peggy Earle
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Peggy Earle In '90 or so was when Sheila came, and with her she brought some other people with her. She brought our production person who that was a big step going overseas, and she also brought a sales manager, who's still here. But the three of them had had great experience at another company, and really took us to the next step of - probably the biggest difference on the sales end was dealing more with the big department stores and really getting into conversations with - working together as partners almost. I didn't know anything about retail, because I never worked in retail, but Sheila has a big background in retail. So, those three people really brought us along internally. Q: So, you found that the department stores increased their orders by working - PE: Oh, yeah. A huge amount. A huge amount. They bought before, but in this business you really have to kind of manage your sales more than you would ever guess. You know, just put it out and say what do you like? You want to steer them into this is what you bought last year, and how did it sell for you, and what were your markdowns. And we have like twelve hundred accounts. It's a big job. You have your reps doing the smaller stores, and originally they did department stores too, but they're not as sophisticated, and so we took some of that back in house. Well, since '83 we've had our own showroom in New York. It was kind of early, actually, for a very small company like us to bite the bullet and have those expenses, but we've always had this very nice presentation in New York, but we've moved three times, and that's been huge renovations. That was a big leap into what we were capable of doing by getting those three people.
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Ultimate Success Success for new ventures… derives from a smooth and orderly shift… to a state in which the entrepreneur has assembled a first-rate team of employees… to whom she or he can delegate many of the growing venture’s key processes.
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Attracting, Motivating, and Retaining Employees Why are these topics important? In the early stages, you perform them. You can place your personal “stamp” on these processes. When it’s time to delegate, you’ll choose the best people for the job.
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Leadership The process whereby one individual in a group influences one or more other members of that group toward the attainment of defined group or organizational goals Task-focused leadership Best in unstructured or rapidly changing situations or in situations that are highly structured and stable Tends to be autocratic Relationship-focused leadership Best in situations with a moderate degree of uncertainty and change Tends to be participative
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This note was uploaded on 08/12/2010 for the course AEM 1230 at Cornell.

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AEM1230-1116ToPost - AEM1230 Principles of Entrepreneurship...

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