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Thus, as long as the firm solves the optimization problem presented in Eq. (9), the no-quit constraint is automatically satisfied, and workers will never quit, even without the no-quit constraint.
Then a firm solves the minimization program begin{array}rcl@min {sumnolimits}_{tin mathbb{N} }delta^{t-1}C_{t}q_{t}&+&{sumnolimits}_{tin mathbb{N} :alpha_{t}=1}delta^{t-1}K_{t} &+&{sumnolimits}_{tin mathbb{N} }delta^{t-1}h_{t}left(x_{t}+q_{t}-d_{t}right) end{array} (2).
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If you don't empower your employees to go after the risky ideas, rather than the safe ones, you will be the firm solving problems, not innovating.
If one uses the same approach in comparing the behaviour of managers in slow- and fast-growing firms, solving different cases or situations they face in their daily work in simulated situations, this method might find the unique features of leadership in small growing firms not seen in the use of observations.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.
Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com