Intellectual Business Community

PARTNERSHIP AGREEMENTS Partnership agreement : is the contract between two or more people who are entering business ownership together. We know that it is important to reduce fights between partners, and one of the most effective ways to do this with a detailed partnership agreement. Ask yourself: what kinds of issues are likely to be covered in a partnership agreement are: ·          Who puts in how much of the capital? ·          Who gets how much of the profits? ·          Who has authority over which decisions? ·          Who has which responsibilities? ·          How can disputes among the partners be settled? ·          How can the partnership be changed? ·     ...

TRAIT TEST =NEVER TRUE OF YOU 1=OCCASIONALLY TRUE OF YOU 2=USUALLY TRUE OF YOU 3=ALWAYS TRUE OF YOU. I am confident in my ability to influence others. I work harder than most others know. I have a clear picture of my future. I spend more time attending responsibilities than most people do. I have specific long-term goals. I spend time each week planning my future. Compared to others i take school or work serious . I do a thorough job in completing my tasks. The steps to success are obvious to me. I believe in my own ability to succeed. I work more hours per day than the average person. I see myself as controlling my own destiny. Compared to others,I am more likely to exercise self control. I make the major disc ions that affect my life. I know what i want to achieve. SCORES. Above 38 well above average. 34 -38 above average. 26 -34 average. 22 -26 ...

PRINCIPLES OF INNOVATION Entrepreneurs need to realize that Principles of Innovation do exist. These principles can be learned and when combined with opportunity can  enable individuals to innovate. According to Kuratko and Hodgetts (2007) principles of Innovation are: —    Being action oriented: Innovators always must be active and searching for new ideas, opportunities or sources of Innovation. —    Make the product, process or service simple and understandable: This means that people must understand how the innovation works —    Make the product, process, or service customer based: Innovators must keep customers in mind, the more he does this, the more the greater the chance the concept will be accepted and used. —    Start small: The innovators should start small and then build and develop, allowing for planned growth and proper expansion in the right manner and at the right time. — ...