Casual Articles - Business

Major Elements of Operating Agreement for Limited Liability Companies
The Operating Agreement sets forth the rights and obligations of the members. The Operating Agreement can require disputes to be resolved by arbitration, rather than with costly and stressful litigation. The following is a list of some of the most important elements to include in an Operating Agreement:Set Rules for Admitting New Members: The Operating Agreement can require the consent of all members, or allow a prospective member to become a member with the consent of a majority of the members or all of the members. Restrict Members from Freely Transferring Their Interests in the Company: The Operating Agreement should contain rules about how and when members can transfer or encumber their interests in the company. Right of First Refusal on Transfers of Interests: The Operating Agreement can provide that a member who desires to sell or dispose of the the interest in the LLC must notify the company and the other members and give them the optio

mpany needs to think about its future. Developing a long term strategic plan is a key best practice within wholesale distribution. A Board of Directors has the responsibility of reviewing, approving and monitoring the success of the company’s strategic plan. The CEO is responsible for the company vision.

The executive team should create the roadmap, the strategic plan and the Board will review and approve it. Monitoring the company’s financial performance, reporting policies and accounting practices are part of this process. Compliance and risk management also become a part of the Board’s responsibilities.

So What Does the Management Team Do?

It sounds like the management team will spend most of it’s time trying to keep the Board happy. Not true. The role of the CEO and the management team is quite clear. They run the company. The company’s day-to-day business will always remain the responsibility of its employees under the direction of senior management and the CEO. The CEO is held accountable, as he should be, by the Board of Directors. Once the management team crea

Lead Generation Programs
When you have a business, you want it to be as successful as possible. That often means doing thing such as cold-calling and sending mass e-mails. Unfortunately, both these methods aren't looked upon favorably by the recipient unless you can find what are known as 'quality leads.' Lead generation programs are designed to help you find quality leads to help you gain new customers.Your first step in finding lead generation programs is to do your research. Factors to consider when looking for options include your price range, your industry, and how many leads you need overall. To find the information you need to make a decision, you can use the Internet to do the bulk of your research. Read product reviews on different consumer review sites and ask questions in business forums and news groups. You can also ask business owners at marketing events. After you find a few lead generation programs that look good, you can research them a little more thoroughly to help you make a decision.

Family owned/privately held organizations in wholesale distribution, both small and large, with succession issues, family preparation and second and third generation leadership issues have been subjected to the evolution of leadership. These organizations are often founded by an aggressive, highly talented entrepreneur. Many of the principles of leadership employed by the founder that helped build the success that the organization enjoyed in the past is not the type of leadership that will maintain that success through generations of ownership. The formation of a board with several outside directors can help ownership cross the transitional divide that often accompanies generational succession.

A Board of Directors, elected by ownership, can provide the kind of support necessary to take the company to the next level. No man is an island and it can become very lonely at the top. Growing an organization is hard work. The president of the corporation not only has to surround himself with an excellent team but he must be able to rely on another power to challenge him and his team. The Board of Directors, in exercising its business judgment, acts as an advisor and counselor to the President and his executive team. The Board can help define and enforce standards of accountability. Accountability that is often found lacking in a privately held family run organization. A Board can challenge and help the management team execute their responsibilities to the fullest extent in the best interest of the shareholders.

A Sounding Board

A Board can have differing types of responsibilities based on its written charter and by laws. However, the typical responsibilities that a Board for a privately held corporation must live up to are generally aligned with ownership/shareholder objectives. Overseeing the way the company conducts its business to insure that it is managed effectively is one primary responsibility. Selecting, compensating and evaluating the CEO is another key responsibility. Someone has to have the power to take the CEO to the woodshed when it becomes necessary. No one person has all the answers and the board can provide the kind of advice and insight that may circumvent mistakes or validate the direction the CEO is taking the company in. Boards can be structured under a wide range of responsibilities and personalities. They can be very formal with strict procedural requirements or they can be very informal, made up of predominantly family members without the necessity of following “Roberts Rules of Order” in conducting its business. It’s the opinion of this author that every Board including the “Family Advisory” Board needs to have several outside directors elected. These outside board members are not the company accountant, the company attorney or best buddies with the owners. They are proven successful business people that can serve the Board in an uncompromising objective manner. The Board can support management in the development of organizational planning, succession and resource management. The most effective Board will be a group of professionals with a wide variety of skills. Ideally, these board members will have backgrounds that differ from the management team but compliment their skill sets.

The Board Personality

Just like management, a Board of Directors success and how supportive it is to management is directly related to their personality traits and their character. Selecting directors for board membership is critical and the process should not be taken lightly. These directors must perform the role of governance, although their primary role is one of a supporter, a coach and even mentors. They must also assume the role of questioners and monitors of company performance. As supporters they must provide guidance and advice while living up to their governance responsibility which insures the long term health of the organization. This role includes succession planning and holding the CEO and the management team accountable for the success of the organization. That is why the director’s character is so important. A character that embraces the following:

• Honesty

• Integrity

• Enthusiasm

• Open mindedness

• Competence

• Trustworthiness

• Analytical thinking

• Being a team player

• A sense of humor

Strategic Planning

Every company needs to think about its future. Developing a long term strategic plan is a key best practice within wholesale distribution. A Board of Directors has the responsibility of reviewing, approving and monitoring the success of the company’s strategic plan. The CEO is responsible for the company vision.

So What Does the Management Team Do?

How To Avoid Failures Of Startup Companies
Promising campaigns, high budgeted introductory programs, enchanting outlooks typically depict the start up of a new company. The newspaper have nothing else to talk about than such startups for few days, however within a few months or an year in most of the cases, the newspapers are even more thrilled with the abrupt failures of such start ups. Statistics run vague and ever other research company has a figure to quote and a theory to state however there has been no straight reasoning behind such disastrous failure of new companies. However this article attempts to present a close analysis and the basic reasons behind failure of start- up companies, based upon extensive research on such failures and of course a study of the few popular theories.Well the top one among the contenders in the list is the lack of planning at the core. This reason is further characteristic of smaller companies, which tend to move with the flow and are not clear about their own vision. As for the larger on

e Board of Directors, in exercising its business judgment, acts as an advisor and counselor to the President and his executive team. The Board can help define and enforce standards of accountability. Accountability that is often found lacking in a privately held family run organization. A Board can challenge and help the management team execute their responsibilities to the fullest extent in the best interest of the shareholders.

A Sounding Board

The Board Personality

• Honesty

• Integrity

• Enthusiasm

• Open mindedness

• Competence

• Trustworthiness

• Analytical thinking

• Being a team player

• A sense of humor

Strategic Planning

So What Does the Management Team Do?

Guidelines For Georgia Incorporation
Incorporation in Georgia is a fairly easy process, and you can do it by yourself or hire an attorney or make use of the services of firms that specialize in helping people incorporate for a reasonable fee. People have begun to realize the benefits of incorporation, which are many and have begun to incorporate without hesitation.Incorporating In Georgia: 1. Make sure which legal structure to opt for your new venture and proceed carefully making sure all conditions are met.2. A name has to be selected and registered after making sure that it is no copy of any existing registered business name or that it is not one that has been reserved. The name has to be appropriate for the nature of your business and not be obscene and must not exceed 80 characters including any punctuation or space used. It has to end in the words or their abbreviation “Incorporated,” “Corporation,” “Company,” or “Limited.”3. There has to be a minimum of one or more incorporators, and they have to f

that may circumvent mistakes or validate the direction the CEO is taking the company in. Boards can be structured under a wide range of responsibilities and personalities. They can be very formal with strict procedural requirements or they can be very informal, made up of predominantly family members without the necessity of following “Roberts Rules of Order” in conducting its business. It’s the opinion of this author that every Board including the “Family Advisory” Board needs to have several outside directors elected. These outside board members are not the company accountant, the company attorney or best buddies with the owners. They are proven successful business people that can serve the Board in an uncompromising objective manner. The Board can support management in the development of organizational planning, succession and resource management. The most effective Board will be a group of professionals with a wide variety of skills. Ideally, these board members will have backgrounds that differ from the management team but compliment their skill sets.

The Board Personality

• Honesty

• Integrity

• Enthusiasm

• Open mindedness

• Competence

• Trustworthiness

• Analytical thinking

• Being a team player

• A sense of humor

Strategic Planning

So What Does the Management Team Do?

For Business SUCCESS... Listen To The Voices of Experience
Discover the pitfalls of owning your own business BEFORE... [you make a BAD choice!]It's really BIG dollars rather than dimes... at least that's my experience over many years. Thousands can be GONE quickly if you fail to plan and work your plan toward success. That said, the first step - baby size - should be at the 'feet' of one who has been there... done it!!Invincible, right? If anyone can do it, I can!! Looking back over many years - 40 plus - it's written all over the decisions made during my early attempts at starting a new business. Yes, I spent most of my career as an entrepreneur, owning or co-owning a business. Sometimes for the 'right' reasons, at other times it turned 'south' and belly-up.At the time it didn't seem like much... my first venture out of business college. 'Excited' to say the least. 21 years old, eager, energized, 'ready to roll' was more like it. NOTHING could go wrong, but it surely did. Somebody [I won't call any names] sold us

/p>

• Honesty

• Integrity

• Enthusiasm

• Open mindedness

• Competence

• Trustworthiness

• Analytical thinking

• Being a team player

• A sense of humor

Strategic Planning

So What Does the Management Team Do?

Planning the Perfect Fund Raising Event
Every year you will find millions of fund raising events happening all across the country. They range from very large scale fund raising events for major organizations all the way down to fund raising events for small groups and clubs in your local community. If you are thinking about a fund raising event for your club or local charity you may be trying to figure out what you need to know to make it successful. This article is designed to help make you aware of what you are facing and how to avoid potential problems.Before you start putting a fund raising event together you may want to check with your local city ordinances to make sure there are no special licenses or permits required to conduct a fund raiser in your area. Once you know what you can and cannot do you will be better prepared and ready to begin the planning process.A good fund raising event will usually involve the local community business support. You can often obtain free or deeply discounted advertising fo

So What Does the Management Team Do?

Role of the Director

Directors are expected to demonstrate the kind of character that is beyond reproach. They must always act in the best interests of the business and fulfill their fiduciary responsibilities. They must always act honestly, ethically and with integrity. They must always maintain a courteous and respectful attitude. They will act in good faith exercising sound judgment, competence and due diligence. They must maintain the confidentiality of the organization and avoid any conflict of interests. Being a director should never be taken lightly. It requires time, attention and dedication. They are expected to attend all the scheduled meetings and serve on necessary committees that are in the best interest of the organization.

Leadership Development

Differing opinions and even controversy over direct contact and relationships between board members and members of the management team still exists today. However, it is widely recognized that one of the board’s responsibilities is not only succession planning for the CEO but also succession within the ranks of executive management. It would be extremely difficult for any board member to make a contribution in the succession planning process if they had absolutely no contact with the management team at all. This doesn’t mean that any director should encourage or support the circumvention of authority but private meetings dealing with specific committee issues are not out of the ordinary.

The board may invite individual management team members to board meetings asking for a specific presentation on important issues. This can also help the board in evaluating individual management team members. Coaching, mentoring and leadership development can be a significant contribution a director can make to the future success of the company.

A Board of Directors should not perform an adversarial role but a supportive role to the CEO and the management team of the organization. The right board members can be significant part of the success of the organization. The power the board has is dependent upon its charter and it’s by laws. Remember, the board is elected by the shareholders. In a privately held corporation, this means that ownership determines the make up and type of board they want to govern the organization. Successful owners, true leaders understand the value a board of directors can provide.

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Are your company's Human Resources hiring policies systematically training individuals to tell tall tales and engage in deception?

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