please list FIVE key takeaways from the class that connect with your learning and discuss one in detail.Maximum 500 words. The topic is The Organizational Plan: Teams, Legal Structures, Alliances, and Directors

Management team Managers and other key persons who give a company its general direction.

In general, the management team consists of individuals with supervisory responsibilities, as well as nonsupervisory personnel who play key roles in the business.

Investors consider the quality of a new ventures management to be one of the most important factors in decisions to invest.

One reason that a management team often can bring greater strength to a venture than an individual entrepreneur can is that a team can provide a diversity of talent to meet various managerial needs.

In addition, a team can provide greater assurance of continuity, since the departure of one member of a team is less devastating to a business than the departure of a single owner.

The competence required in a management team depends on the type of venture and the nature of its operations.

In many cases, a startup owner stacks the management team with family and friends, rather than seeking balanced expertise.

The upside to this is that:

The owner knows these people well and trusts them.

They often work for less compensation.

They are more likely to make personal sacrifices to keep the business alive.

The downside to this is that:

The team can quickly become very homogeneous.

The team lacks complementary strengths.

The team entertains feelings of entitlement.

The team carries the baggage of family dysfunction into the enterprise.

1. Identify and list five distinct takeaways (your points will be deducted if you list less).

2. Focus on one takeaway and provide details about it from the live session( THE FAMILY BUSINESS).

3. Finally, combining that learning from a current WSJ news item that is recent (no older than three months).