Study Blog: Trigger 3: How to create a structure of a growing company?

1. MANAGEMENT

What attributes define a successful manager?

This is a very large subject. The attributes that the manager decides to use are defined by the people (s)he is managing. Many books seem to have the same answers to this question, they're just addressed differently. There are still the main attributes and critical skills all managers should have. A successful manager performs the following skills with an ease:

Builds effective and receptive interpersonal relationships
Communicates effectively
Builds the team
Understands the financial aspect
Knows how to create an environment with positive morale and recondition
Leads by example and sets the pace via her expectations
Helps people grow and develop
Integrity
Motivational skills
Decision making skills
Supports open communication

Every manager should know his/her employees, be able to recognise their skills and make them feel welcome and needed. Managers should give constructive feedback and by assigning the employees with a certain amount of authority they can take charge at the task in hand by themselves.

(Susan M. Heathfield, 2017)

(What makes a good manager)

2. STRUCTURE

What are different company structures?

"A business structure is a category of organization that is legally recognized in a given jurisdiction and characterized by the legal definition of that particular category." (Whatis, 2015)

Different businesses have different structures. Here are five common types.

Sole Proprietorship: The most basic and easiest to understand. You are the owner and you're responsible for all that happens in the company.
Partnership: Two or more people carry on the business. Shared control and management of the business with the partners.
Corporation: An independent legal entity owned by shareholders. The corporation itself is held legally liable for the actions and debts the business incurs.
Limited Liability Company (LLC): Hybrid structure from partnership and corporation. "Owners" are referred to as "members" and there can be one or more members.
Cooperative: Owned by and operated for the benefits of those who use it. Profits and earnings are distributed among the members. Usually an elected board run the cooperative whileregural members have voting power to control the direction of the cooperative.

3. EMPLOYEES

How do companies motivate their employees? (case studies)

So a lot of companies have a yearly maternal leave, a sick leave or/and vacancies. But what I wanted to find was some unusual perks that would keep the employees of a company motivated and happy. The coolest one I could find was Airbnb. So Airbnb was chosen as "the best place to work in 2016" by the employees.(Forbes, 2015).

They have a lot of cool and different benefits for their employees. So let's start listing:

$2000 for travelling a year. This is as cool as it sounds as Airbnb not only focuses on getting their employees out of the office but out of the city.
You can bring your pet to the office.
Sailing together
A ping pong table
Weekly yoga classes
Get to eat organic lunches every day
Formal Friday. Dressing up for Formal Fridays and you get a moustache. How cool is that?