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If you think hiring is tough in today's tight labor market, you should figure that retaining people is even tougher. To keep employees, small-company owners must provide more than just competitive compensation packages, the author writes. What really makes the difference is a CEO's ability to communicate an organizational vision and to recognize the people who translate that vision into revenue and profit.
You can not be creative in a vacuum. Understanding your industry and marketplace requires consistent study habits.
At Jim Berlin's company, interns bring fresh energy and get practical experience.
BP has received almost 35,000 ideas in just over a month on how best to clean up the millions of gallons of oil from the biggest spill in U.S. history. So far, only four hace made it into testing.
Hiring the disabled allows entrepreneurs greater productivity, lower labor costs, and lucrative tax benefits, in addition to engendering goodwill, says a company founder who employs brain-injured workers.
Global growth is essential for entrepreneurial companies but must be managed to overcome challenges such as language barriers and tax-related paperwork, says the founder of a Harley-Davidson licensee.
Carl Behnke's investment of more than 20 years on the board of Junior Achievement is just one example of his belief in giving back.
Larry Levy believes entrepreneurship education is important for the future of our country, and his involvement with Northwestern University's Kellogg Graduate School of Management, demonstrates the commitment behind his beliefs.
A growing economy constantly creates new job opportunities in new sectors, but also displaces and even destroys existing jobs. The workforce in an entrepreneurial economy must always evolve as well. Government efforts to protect jobs are often misguided, hindering growth and new job creation. Pro-growth workforce rules should instead focus on developing worker skills, allowing maximum hiring and layoff flexibility, and focus adjustment efforts on getting displaced workers into new jobs as soon as possible. Small firms employ half of all private sector employees and create 60-80 percent of net new jobs in the U.S., according to the SBA. Labor rules are one of the largest barriers to entrepreneurial ventures. The World Bank’s cross-country comparison of labor regulations shows lower job creation where workplace rules are more rigid. Labor rules must move beyond the early 20th century framework of management versus labor and encourage new firm formation as well as a dynamic, not static, worker.
Turkey offers quite a sophisticated platform for entrepreneurs. It has a diversified industrial base, a relatively stable political and economic environment, a critical mass of willing early adopters, a considerable talent pool, a strong domestic market and underserved neighboring markets. Yet, currently only 6 out of 100 people are entrepreneurs – a very low rate given the country’s level of development. What challenges does Turkey need to address in order to unleash entrepreneurship as a force for economic growth?
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