The partners wanted to avoid he problems they had experienced in previous firms by creating a company built upon a co-ownership model, anarchically employee positions, and decentralized decision-making. The content of their mission statement was focused on company’s employees and this distinguishes Names from others. SQ: How was the name of the company chosen? Peg. 78-85 In our case, I suppose, the company’s name was chosen according to values. Names is a traditional Sanskrit greeting.
To Jones, Kennedy and Toomey, the word’s meaning was significant: “A greeting of great respect that celebrates the interdependence of all living things. ” This name demonstrates organization’s cultural commitment to take care of both employees and customers. The mission statement for Names emphasizes values of ethical conduct in all relationships, shared risks and rewards. All these, and not only the fact that Jones used this word on a daily basis while living in Nepal and that Kennedy used it on a daily basis in his yoga practice, Influenced the process of choosing name.
IQ 3: Stock valuation of Names Solar. As we have already learned a critical part of the founders’ vision for Names Solar- and a strategy for attracting and retaining employees-was a commitment to employee ownership. Full-time employees at Names Solar were able to buy shares in the company at any time, at the then-current value. There was only one condition employees who left the company were required to sell back their shares. I think, this strategy is really good, because Its motivate people working on you. At the beginning
Names Solar had considerable difficulty valuing Its stock. They used multiple methods: primarily market comparable multiples, based on what other companies have sold for. They also look at what normal multiples are for. But it all comes down to the fact that their main goal is to share long-term ownership using a conservatively and fairly determined stock price. IQ 7: What factors made Names Solar think about an outside investor?