-Legal Issues: Recognizing small business -Human Resource Management: Small Business Considerations

1. Legal Issues:
Recognizing small business

2. Business and the Law
Business and law are inseparable
Advantage of understanding legal system;
•
Help to less intimidated by attorneys and the law
•
Help to empowered owner

3. You need a good
Attorney
Four ways attorneys typically charge:
1.
Hourly Fees
2.
Flat fees
3.
Retainers
4.
Contigency fee

4. Choosing a Business
Name
Trade name
Assumed name
When selecting a trade name;
• Find one that is memorable and discriptive
• In picking a trade name is your own goals

6. Everything is
Negotiable
Four steps to structure a negotiation
1.
Prepare
2.
Position
3.
Propose
4.
Pounce

7. Legal Liabilities
The simplest form of liability is Direct liability.

8. Torts: Responsibility for
your actions and the Action
of your Employees
Vicarious (indirect) liability
If facing a Vicarious liability
• The actor is not an employee, but an independent contractor
• The actions were outside the scope of agency

9. Commonsense to avoid
torts
•
•
•
•
Develop a strong relationship with costumers
Try to develop client loyalty
Give personal service
Listen to yor costumers

10. The independent Contractor
Argument
Independent contractor
Characteristics of an Independent contractor:
• Behavioral
• Financial
• relational

11. Contracting
Several kinds of situation in which lawyer takes charge:
•
Standard contracts
•
Specialty contracts
•
Hold harmless agreements

12. Internet Issues in
Contracting
Business to Business (B2B)
- Suppliers of Raw materials & Wholesalers and Retailers
Business to Consumer (B2C)
- Small business to sell over the Internet

13. Other issues
•
How to handle contracts that are required to be in
writing to be enforceable.
•
How business handles e-mail

14. Human Resource Management:
Small Business Considerations

15. Attracting Employees
To attract and hire new talent into a medium to large growing
organization;
•
Help wanted ads in newspaper
•
The use of an employement service
•
Internet recruiting
•
Employee referral

16. Matching the Worker to
the Work
- Writing a job description
Covering the Following areas:
• The reason the job exist
• The mental or physical tasks involved
• How the job will be done
• The qualifications needed
- Evaluating Job Prospects
- Selecting the right person

17. Training Employees
To begin, you should first assess your small firm’s training
needs from the perspective of the business, the job
description and the needs of employees.

18. Initial and Ongoing
Training Methods
On-the-job training
• Techniques include orientation
• Job instraction training
• Apprenticeships
• Internships
Off-the-job training
• coaching
• Television conferences
•
•
•
Special study
discussions
Lectures

19. Three Guidelines for training
1. Give your employees oppurtunities to use their new skills
2. Make training an ongoing process
3. Think of training as an investment

20. Rewarding employees
To retain productive employees and increase their job
satisfaction and ask them what their needs are. Create
an environment that appeals to them.
Psychological contract

21. Five factors that are most
valuable to employees:
2. recognition
1. teamwork
3. Training
4. Empowerment
5. contribution

22. Compensation, Benefits
and Perks
1. Bonuses and Long term incentives
2. Health Insurances
3. Retirement Plans
4. Perks

23. Human Resource Issues in
the family Business
Nepotism
-selecting and promoting people
based on family ties
Meritocracy
- Selecting and promoting people
based solely on their being the
most capable employee

24. Good Human Resource
Practices For all Businesses
Key elements:
•
Transparent procedures with consistent application
•
Job Basics
•
Job Metrics
•
Lines of communication
•
Task repair