Preparing A Business Plan For Your New Business - 1472 Words

When entering into a small business, management style is crucial. Additionally, there are other key factors that should be considered in preparing a business plan for your new business. One of these factors is size of the company or potential growth. When Eve Yen embarked on her business she was not totally prepared. She was not fully knowledgeable of the managerial process to begin operations. In order to start, the entrepreneur must demonstrate enough management skills to execute how the operations of the company to follow. An important criterion in beginning a business is to develop, implement, and support a successful prevention outline which includes data. How will be functional into organizational life, what is working, what is not†¦show more content†¦Knowing what the company needs for the employees to be trained properly is key. When the employees are trained they are knowledgeable and polished and ready to operate in the business. Eve’s has to be prepared to address any foreseeable problem that may occur. One problem she would have to address is when employees don’t follow through with the training they were provided. When this occurs Managers have to know to let those employees go. Entrepreneurs are innovative when it comes to building a business. They are the heart and soul of the business. Eve Yen could have a challenge of delegating to her employees because of this. Eve Yen is proactive in knowing this; she is willing to hire someone as an operation manager position as well as Supervisors to run the business. Yen was somewhat impatient in light of the lack of preparation before hiring employees as well as the lack of training provided. Yen lacked the professional management skills to make the necessary changes to the business as it increased in size. Yen delegated tasks, but apparently did not empower people to do the tasks. Yen’s leadership style was commanding, but lacked the follow-through required to make this style work. 2. What aspects of Eve’s leadership approach directly or indirectly affected the problems that developed? Clearly explain the connections between Eve’s behaviors and the resulting problems. Eve Yen was not prepared to be an entrepreneur. She hired her staff