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Ownership of the new project

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Reference no: EM133095342

Case

After several years of working in management rank within the retail industry, you and 4 friends (who also have similar backgrounds) have decided to open a small retail venture.

As you are all equally invested, ownership of the new project is divided equally amongst each partner (5 partners each owning a 20% share).

The venture requires the hiring of 15 employees: 12 non-managers plus 3 managers. There is a Sales Force team (1 manager, 6 subordinates), a Marketing team (1 manager, 3 subordinates), and a Finance team (1 manager, 3 subordinates).

Question:

If management sought a culture characterized as innovative and autonomous, how might they approach the issue of conflict resolution? What processes might be put in place for this?

Reference no: EM133095342

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