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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
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Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
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The Most Successful Entrepreneur to Follow in 2023.pdf
1. W O R L D
M A G A Z I N E
VOL
11
I
ISSUE
02
I
2023
Lexis
Serot
Redening Support for
Individuals with Disabilities
“Under her guidance,
the online experience
on LittleWins
transcends the
ordinary, becoming a
personalized journey
for each user, tailored
to meet the diverse
needs of their
families.”
The Most
Successful
Entrepreneur
to Follow in 2023
5. The Attributes of Dynamic Growth
- Lewis oper
s we navigate the dynamic world of business, we find ourselves inspired by individuals
Awho redefine success and pave the way for others to follow. In the emerging landscape
of entrepreneurship, WomenWorld Magazine is thrilled to present to its readers an
exclusive feature on “The Most Successful Entrepreneur to Follow in 2023.”
In this issue, WomenWorld Magazine delves into the remarkable journey of an entrepreneur,
Lexis Serot, whose vision, tenacity and innovative spirit have set her apart in the competitive
realm of business. From humble beginnings to achieving extraordinary milestones, she
exemplifies the essence of determination and resilience.
It is a combination of insightful exploration of the strategies, challenges and triumphs that have
shaped her path to success. Through the engaging narrative, WomenWorld Magazine aims to
provide a glimpse into the mindset of a trailblazer who continues to make waves in her industry.
This edition serves as a source of inspiration for aspiring entrepreneurs, offering valuable
lessons and practical insights drawn from the experiences of our featured entrepreneur.
Whether you're an established business leader or just starting on your entrepreneurial journey,
there's something to be learned from the wisdom shared within these pages.
As WomenWorld Magazine continues to champion the achievements of women in business, it
welcomes the readers to celebrate the accomplishments of “The Most Successful Entrepreneur
to Follow in 2023.” May her story ignite the flames of ambition and fuel the aspirations of a
diverse and dynamic readership.
6. 16
20
Know Your Leader
The Science of Effec ve Decision-Making
in Leadership
Comprehensive Aspects
How to Develop Your Emo onal
Intelligence as a Leader?
12. he evolution of online communities in the
Tmodern era has been profound, marked by
increased diversity, interactivity and significance
in people’s lives. This transformation highlights the
immense potential of online communities to create
meaningful connections and impact individuals in ways
that were previously unimaginable.
Recognizing this potential and utilizing it, Lexis Serot is
emerging as a beacon of change, a trailblazer devoted
to making a profound impact in the lives of individuals
with disabilities and their families. LittleWins, a
visionary platform founded and meticulously nurtured
by the indefatigable Lexis is a digital realm where
compassion meets commerce, where innovation
transforms the healthcare sector, and where individuals
with disabilities find not only the support, they need but
a community that understands their unique challenges.
Amidst the virtual cacophony, Lexis is the Founder &
CEO of LittleWins, a venture born out of a deeply
personal mission and a professional zeal to create
meaningful change. For over four years, Lexis has led
this transformative initiative, shaping it into a haven for
families of children with disabilities. In the heart of this
community, she has nurtured connections, enabling
families to search, buy, sell, and donate durable medical
equipment seamlessly.
Lexis has diverse roles at LittleWins. She’s the architect
of a comprehensive business development strategy
integrating together disparate teams and agencies into
a cohesive unit. Her vision extends far beyond mere
transactions—she envisions a world where every
interaction is a step toward empowerment, every
purchase a testament to resilience and every donation
a gesture of solidarity.
At the core of Lexis’s expertise lies a fusion of
marketing prowess, business acumen and the art of
people management. With strategic finesse, she designs
impactful B2C and B2B marketing campaigns,
collaborating with wholesale partners, sponsors and
the very users the platform serves. Her campaigns are
about stories, about hope and about making a genuine
difference. Under her guidance, the online experience
on LittleWins transcends the ordinary, becoming a
personalized journey for each user, tailored to meet the
diverse needs of their families.
Let’s explore Lexis’s accomplishments extending far beyond
the digital realm!
Can you tell us about your background and what
inspired you to start Littlewins?
Like many businesses, LittleWins was born from
necessity. I have a daughter with Cerebral Palsy and in
the early stages of motherhood, I was amazed at how
little resources were available for anyone navigating
the complexities of living with a disability. What’s more,
I felt alone.
For a long time, I was hesitant to voice this but the more
people I talked to, the more I realized there was a
fundamental need for a community like LittleWins—a
need for a support network for people facing similar
obstacles to help each other. I started talking to as
many people as I could, asking questions, hearing
stories, familiarizing myself with the complexities of
each individual story, and the more familiar I became,
the more certain I was that I needed to start LittleWins.
What were the initial challenges you faced when
launching LittleWins?
The initial challenge was to overcome the naysayers.
The medical industry, specifically the Medical Device
Industry is a large and expensive dinosaur long set in its
ways. Everyone told me it would be impossible to
disrupt it, friends, family, lawyers, fellow entrepreneurs,
but I ignored the naysayers because I had to. When
someone can’t have access to a basic quality of life
simply because they cannot afford it, there is something
inherently wrong with the system.
Another initial challenge was finding the right
personnel. Just because someone had the highest
marks, went to an Ivy League school, or had the proper
professional qualifications, didn’t necessarily mean they
were who we needed. This is a community, after all, and
who someone is can be much more important than what
someone has accomplished. I was fortunate enough to
find a team of people who understood why I was doing
this.
Can you explain the purpose of LittleWins? What
functions does it serve for people with disabilities and
13. My commitment
to LittleWins and
what it stands
for is fueled by
the interactions I
have with
community
members every
day.”
“
“
14. how does it create a supportive community for its
members?
LittleWins has two primary functions. First, it is a
marketplace for people with disabilities to donate, buy,
or sell their used medical equipment. Second and
equally as important, it is a community where members
can ask questions, give advice and offer support for one
another. All someone needs to do is go to
LittleWins.com, create a quick account and within
minutes they will have access to affordable healthcare
equipment and a network of people who share their
experiences. We also have a shop where community
members can purchase affordable products like
compression socks, bath bombs, and many other great
items.
What fuels your commitment to LittleWins and its
values?
My commitment to LittleWins and what it stands for is
fueled by the interactions I have with community
Lexis has diverse roles at
LittleWins. She’s the
architect of a comprehensive
business development
strategy integrating
together disparate teams
and agencies into a cohesive
unit.
“
“
“
“
15.
16. people coming together to help each other. When I look
back at when I first started and how hesitant I was to be
hopeful, it’s a beautiful thing to see how far it’s all come.
Could you share some insights into the significant
challenges faced during the early stages of building
LittleWins and how your team navigated these
hurdles successfully?
The biggest challenge we faced while building
LittleWins was scaling growth properly. No one
expected the overwhelming support and growth
LitteWins experienced so early on. We had to think on
our feet and adapt.
During that time, finding the right personnel was
essential. We took our time building a team of people
who saw what we were doing and believed in it. We
didn’t let the pressure of fast growth force us to hire
the wrong people. Moreover, we managed expectations
with our early customers and kept a clear line of
communication with them to improve on the early
iterations of the site.
What are your thoughts on the current advancements
in medical device innovation, particularly in the realm
of access technology?
I think access technology is one of the most exciting
things happening in medical device innovation. Devices
like Eye-Gaze allow people with disabilities to perform
commands on computers using their eyes, which for a
lot of people is their most reliable form of movement.
It opens the door to endless possibilities. It will give a
voice to those who up until now have not had one.
Communication is imperative for effective healthcare,
so it is an exciting and hopeful thing to see. As for
LittleWins, any innovations made in access technology
that can be implemented in our community will be.
How do you handle failure, feedback and unexpected
changes in your business approach?
The most important lesson I’ve learned as an
entrepreneur is to embrace failure and learn from it.
The reality is that you’re not going to get everything
right all of the time and if you treat the initial stages of
building your business as a constant learning
experience, it will be much easier to keep a positive and
open mind. It is crucial to understand that obstacles
lead to growth.
Also, especially in this industry, communication is
massively important. Don’t ignore any feedback,
whether you agree with the feedback or not, it will help
paint a picture. Finally, be willing to adapt to
unexpected change.
Having a plan is always important, but any
entrepreneur will tell you that things don’t always go as
planned. Finding innovative ways to solve problems and
hiring innovative people are great ways to grow while
navigating the unexpected.
How is LittleWins revolutionizing healthcare
accessibility beyond medical equipment and more
towards innovative solutions?
I knew when I started LittleWins that medical
equipment was just the start. We just launched
LittleWins subscription boxes that allow community
members to receive a monthly box of affordable
medical supplies tailored to their specific medical
needs.
So far, it has been a huge success and the feedback we
are constantly receiving allows us to keep improving
the member experience. So many aspects of our society
are seriously lacking when it comes to accessibility.
Right now, we are starting to shift some of our focus to
transportation. We have some big partnerships in the
works that will change the game for accessible
transportation.
At the core of Lexis’s
expertise lies
a fusion of marketing
prowess, business acumen
and the art of people
management.
“
“
“
“
17.
18. The Science of
Effective Decision-Making
in Leadership
E
ffective decision-making is crucial for leaders in any
organization. Whether it's a small team or a multinational
corporation, the ability to make informed and sound
decisions can greatly impact the success and growth of the
business. While decision-making is often considered an art, there
is a significant scientific basis behind it. This article delves into the
science of effective decision-making in leadership, exploring key
principles, psychological factors, and strategies that leaders can
employ to enhance their decision-making abilities.
Understanding the Decision-Making Process:
Effective decision-making starts with understanding the decision-
making process itself. Leaders need to comprehend the various
stages involved, from problem identification and information
gathering to evaluation and implementation. By recognizing these
stages, leaders can employ specific strategies and techniques
tailored to each phase, leading to more effective and efficient
decision-making.
The Role of Cognitive Biases
Cognitive biases, inherent flaws in human thinking, can
significantly impact decision-making. Leaders must be aware of
these biases and their potential influence on their judgments.
Understanding biases like confirmation bias, anchoring bias, and
availability bias can help leaders recognize when their thinking
might be clouded and make efforts to mitigate the effects of these
biases, leading to more objective and rational decision-making.
The Power of Data and Analytics
In the age of big data, leaders have access to an unprecedented
amount of information that can inform decision-making. Effective
leaders leverage data and analytics to gain insights, identify
patterns, and make data-driven decisions. By employing tools such
Nov 2023 | 16 | womenworldmagazine.com
20. as data visualization, predictive modeling, and trend
analysis, leaders can make more informed choices,
reducing uncertainty and improving the likelihood of
successful outcomes.
Emotional Intelligence and Decision-Making
Emotional intelligence plays a fundamental role in
effective decision-making. Leaders with high emotional
intelligence can recognize and manage their emotions
and those of others, which can enhance their ability to
make decisions that consider the impact on individuals
and foster positive relationships. By balancing
rationality with empathy, leaders can make decisions
that align with organizational goals while also
considering the needs and emotions of stakeholders.
Group Decision-Making
Leadership often involves making decisions in a team or
group setting. Understanding the dynamics of group
decision-making is essential for effective leadership.
Leaders must encourage open communication, foster a
culture that values diverse perspectives, and facilitate
consensus-building processes. By harnessing the
collective wisdom of the group, leaders can make more
comprehensive and informed decisions that benefit the
organization as a whole.
Continuous Learning and Adaptability
Effective decision making requires a mindset of
continuous learning and adaptability. Leaders must be
willing to reflect on past decisions, identify areas for
improvement, and embrace feedback. By cultivating a
learning culture and being open to new information and
perspectives, leaders can refine their decision-making
skills over time, becoming more effective leaders who
can navigate complex and uncertain environments.
Decision Support Systems and Technology
Technological advancements have revolutionized
decision making in leadership. Decision support
systems (DSS) and artificial intelligence (AI) tools
provide leaders with data-driven insights, predictive
analytics, and scenario modeling capabilities. By
harnessing these tools, leaders can enhance their
decision-making process, make more accurate
predictions, and explore alternative scenarios to
evaluate potential outcomes.
Intuition and Expertise
Intuition, often associated with gut feelings or hunches,
can play a valuable role in decision-making.
Experienced leaders develop expertise in their
domains, allowing them to recognize patterns, make
quick assessments, and draw on tacit knowledge. By
honing their intuition through continuous learning and
deliberate practice, leaders can leverage their expertise
to make swift, effective decisions in complex and
ambiguous situations.
Ethical Decision-Making
Leaders face ethical dilemmas that require careful
consideration of moral principles and values. The
science of ethical decision-making provides
frameworks, such as consequentialism, deontology, and
virtue ethics, that guide leaders in navigating ethical
challenges. By integrating ethical reasoning into their
decision-making process, leaders can ensure their
choices align with their organization's values and
promote ethical behavior throughout the organization.
Effective decision making in leadership is not solely
based on intuition or guesswork; it can be informed by
scientific principles and frameworks. By understanding
rational decision-making models, behavioral economics,
neurobiology, leveraging decision support systems and
technology, recognizing the value of intuition and
expertise, and integrating ethical considerations,
leaders can enhance their decision-making capabilities.
By embracing the science of decision making, leaders
can make more informed, strategic choices that drive
organizational success and foster a culture of effective
decision making within their teams.
Nov 2023 | 18 | womenworldmagazine.com
21.
22. How to Develop Your
Em ional Intelligence
as a Leader?
How to Develop Your
Em ional Intelligence
as a Leader?
motional intelligence is a vital leadership trait
Ethat involves the ability to recognize and manage
your sensations, as well as the feelings of others.
Developing emotional intelligence can help leaders
build stronger relationships with their team members,
improve communication, and make better decisions.
Here are some strategies to help leaders develop their
emotional intelligence:
Practice Self-awareness: Self-awareness is the base of
emotional intelligence. Leaders should take time to
reflect on their own emotions, thoughts, and behaviors.
They should identify their strengths and weaknesses
and seek feedback from others to gain a better
understanding of how they are perceived.
Learn to Regulate your Emotions: Leaders should learn
to regulate their own emotions by practicing
mindfulness, meditation, or other stress-reducing
techniques. They should also learn to manage their own
reactions to difficult situations and avoid getting caught
up in negative emotions.
Improve your Social Awareness: Social awareness
involves the ability to understand the emotions and
perspectives of others. Leaders should practice active
listening and pay attention to nonverbal clues such as
body language and tone of voice. They should also learn
to empathize with others and try to see things from
their perception.
Nov 2023 | 20 | womenworldmagazine.com
24. Develop your Relationship Management Skills:
Relationship management involves the ability to build
and maintain strong relationships with others. Leaders
should practice effective communication, conflict
resolution and collaboration. They should also learn to
provide constructive feedback and praise.
Seek Feedback: Leaders should seek feedback from
others to help them identify areas for improvement.
They should be open to constructive criticism and use it
to improve their emotional intelligence and leadership
skills.
Learn from Others: Leaders should learn from other
leaders who demonstrate strong emotional
intelligence. They should seek out mentors or coaches
who can provide guidance and support.
Practice, practice, practice: Developing emotional
intelligence is a lifelong process that requires practice
and dedication. Leaders should be patient with
themselves and commit to ongoing self-improvement.
Understanding the Fundamentals
Emotional intelligence (EI) is a key component of
effective leadership. Leaders with high EI are better
able to build and maintain strong relationships, inspire
and motivate their team members, and make better
decisions.
One of the first steps to developing EI is self-awareness.
This involves being aware of your own emotions,
thoughts, and behaviors. Leaders should take time to
reflect on their own emotional responses to situations
and consider how they impact others. They can do this
through practices like journaling or meditation.
Regulating one's emotions is the next step in developing
EI. Leaders should learn to manage their own reactions
to difficult situations and avoid getting caught up in
negative emotions. This involves techniques such as
mindfulness, deep breathing, or visualization.
Social awareness is another important component of EI.
Leaders should be able to read the emotions and
perspectives of others and be able to empathize with
them. Relationship management is the final component
of EI. This involves the ability to build and maintain
strong relationships with others. Leaders should
practice effective communication, conflict resolution,
and collaboration. They should also provide
constructive feedback and praise.
Seeking feedback from others is an important part of
developing EI. Leaders should be open to constructive
criticism and use it to improve their emotional
intelligence and leadership skills. They can also seek out
mentors or coaches who can provide guidance and
support.
Learning from others who demonstrate strong EI is also
valuable. Leaders can observe and learn from other
leaders who have high EI or attend workshops and
training sessions to improve their skills.
Practicing EI is essential for development. Leaders
should be patient with themselves and commit to
ongoing self-improvement. This means practicing self-
awareness, regulating emotions, improving social
awareness and relationship management skills, seeking
feedback, and learning from others.
Developing emotional intelligence is a critical skill for
leaders who want to build strong relationships with
their team members, improve communication, and
make better decisions. By practicing self-awareness,
learning to regulate their own emotions, improving
their social awareness and relationship management
skills, seeking feedback, learning from others, and
committing to ongoing practice, leaders can develop
their emotional intelligence and become more effective
leaders.
Nov 2023 | 22 | womenworldmagazine.com
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