This case is a SIOM group activity on business ethics and innovative thinking…
You are a team wrking together in different departmens of a same organization. You all now decide to leave the current organization and start ur own firm which will b in the same business as your organization.
Discuss and jot down the action plan.. on how will you leave ur current company without spoiling ur reputation.
Think for one minute and dicuss it out…
Warning if no conclusion is reached.. full group can washout.. so help each other..
1. check legal requirements
2. plan for capital funding – use contacts from current business (investors, clients)
Work out the numbers Required Funds -> Expenses -> Revenue -> Gross income -> Returns to investors ->Net returns for the firm
3. Leave the current firm in a planned fashion (spend the cooling time “legally” unemployed – minimal impact on the current firm and stable headcount growth in the new
4.First few leaving the company after their cooling period is over – register the company with requisite authorities.
5.While we try to get funding and till we get it – plan the capital expenses for the new firm
going as per the business model initially planned
6. Create/Market/sell products/services list and follow the business model