ADMS 3920 Lecture Notes - Lecture 7: Design Issues, Human Capital, Payscale

• School: York University
• Department: Administrative Studies
• Course: ADMS 3920
• Professor: Tony Johnston

Document Summary

New business venture: operations and technical knowledge, marketing and sales knowledge, entrepreneurial finance knowledge. Who might be a part of the entrepreneurial team: advisory board, board of directors, key employees, management team, lawyer, accountant. The benefits of a balanced management team include: diversity of talent, greater credibility and potential for growth, greater assurance of continuity, attractively of finance. Organizational design (structure, processes and leadership style: design an organization that means that the tasks that need to be done are actually being done, performed tasks vs. required tasks, what are the things management has to be doing. Organizational structure involves: how tasks are grouped, how authority is delegated, how activities are integrated. In terms of the life cycle as they grow, things become more complex (formation, expansion, stability) Leadership styles refers to how the entrepreneur: obtains and shares information, approaches decision making, handles supervision.