There are numerous aspects to consider when starting an enterprise. But the three primary factors would be a business plan, location, and financing options. A well-prepared plan guides every single operation or initiative of the enterprise. It gives direction to the business to ensure that it stays on track to becoming successful. The financing options, on the other hand, will sustain the flow of resources within the enterprise. Financing options could be in the form savings, loans, or other external means. Before securing or leasing a space for the business, it is essential to consider the variables that may affect the outcomes of the firm such as the accessibility, demographics, competition, the history of the site, utilities, and infrastructure (Mullins, 29). With the three factors (location, financing, and a plan) and many others such as the business structure, name, licenses, and employees, it will be easier to start an enterprise.
Second Discussion Board
The key strategy of identifying the causes of employee turnover would be to interact with the workers to find out and understand the problems that they encounter working in the company. Allow the laborers to air their issues whether through face to face interactions or secret ballots. After highlighting the particular problems, the upper management has to employ interventions that will work in favor of the firm, stakeholders, and the employees. For instance, if the laborers desire salary raises or more bonuses, the upper management can develop a strategic plan to provide the workers with the benefits while still conforming to the interests of stakeholders and securing the financial stability of the firm. The interactions between the management and the employees should be conducted on a regular basis so that the upper executives can be updated of any problems that may result in employee turnover (Allen and Shanock, 354).
Works Cited
Allen, David G., and Linda Rhoades Shanock. "Perceived organizational support and embeddedness as key mechanisms connecting socialization tactics to commitment and turnover among new employees." Journal of Organizational Behavior 34.3 (2013): 350- 369.
Mullins, John. The new business road test: What entrepreneurs and executives should do before writing a business plan. Pearson UK, 2012.
