Barbara Corcoran Learns Her Heart’s True Desires

Barbara Corcoran Learns Her Heart’s True Desires

I have an assignment for Current Management Issues class. I need you to read the file that i attached and then answer the 4 questions at the end of the attached file in separate two pages.

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You must write two full pages to answer the three questions.

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Barbara Corcoran Learns Her Heart’s True Desires

In her hilarious and lighthearted book, Shark Tales: How I Turned $1,000 Into a Billion Dollar Business, Barbara Corcoran demonstrates the importance of knowing what you really want out of life (Corcoran & Littlefield, 2011). As her title suggests, Barbara founded her real estate company, The Corcoran Group, with only $1,000 and some big dreams. Shortly after founding the company, Barbara took out a piece of paper and wrote down some big goals for herself and the company. In 1978, she had only 14 sales agents working for her, who earned a total of $250,000 in commissions. She set a goal of doubling the number of agents and the commissions every year. So she put down 28 sales people for 1979, 56 for 1980, and so on, all the way up to 1,792 salespeople in 1985 with total commissions of $32,000,000. Barbara was amazed when she saw the fantastic sums projected for 1985, and of course many people, when they see such amazing sums, would dismiss the calculations as fantasy But as Barbara put it, she went to work the next day hustling hard for her $32 million.
Real estate agents are paid largely by commission, which is about as close as you can get to a pure form of contingent reward for performance. However, Barbara didn’t rely solely on the commissions to motivate her workers. She threw theme parties and held numerous social events to build a committed workforce. Good sales agents could always move to another firm, but not every firm had Barbara’s positive attitude and fun-filled atmosphere. In the early years of the firm, when money was tight, Barbara and her relatives did the cooking for the outings and parties, and she found clever ways to entertain people with skating parties and other lively activities. As the firm became larger
and more profitable, she even hired professional entertainers for the company’s midweek picnics, which included elephant shows, daring rides on hot air balloons, horses, or Harley Davidsons, etc. Barbara