- Why the “ownership mentality” of small business is so powerful.
- The 3 best ways to solve incentive issues with your employees.
While big companies have many advantages—lower production costs, greater bargaining power, access to financial markets—a clear disadvantage is the separation between management and ownership. Small businesses, on the other hand, often have the distinct advantage of operating with an ownership mentality that allows them to move more quickly with a more motivated workforce. So how can big businesses retain their advantages while creating a workforce that has the incentives of a small business? And where do unique opportunities lie for small businesses? Paul Oyer provides answers based on his research, traveling to small businesses across 27 states. He tells the stories of successes and failures he found on the road.
Paul Oyer is the Fred H. Merrill Professor of Economics at the Stanford Graduate School of Business. He is also a Research Associate with the National Bureau of Economics, Editor-in-Chief of the Journal of Labor Economics, and the co-author of