Today we learned about some of the ways to lead a team.  We learned the pros and cons about each individual way.  We also learned about salaries and dividends.  We also learned about recruitment.  These ways of recruitment you want to pursue is looking at the individuals personal attributes.  Ethics were also in the information learned today.  The other chapter learned today was more into detail about the inventory costs and managing inventory part of the business.  I also learned some things from sharktank.  The things I learned were even if you have a great idea, you need to have a very detailed business plan in order for it to get financed.  The two that we watched had good ideas but had awful preparation and execution of the business plan.

Reflection:  The information learned today is important because in starting a business, you need a team.  This means you have to be able to manage a team the right way that will exploit all of its resources.  Today's information helped me learn some ways to understand how to manage a team.  Another important part learned was the ethics side of a business.  It is always important to have very good business ethics.  I believe the information learned today will be used later on in the class because these things were all important to run a business. I will use this information later in the class when the EE starts the business on Friday.  We will have to run as a team and we will more than likely have some decisions regarding business ethics.  The shark tank episode helped me realize that a business plan is the absolute key to a great idea.  I feel strongly about the information today in that it will help me later in the class and if I have a business some day.