RECOGNIZING EXCELLENCE In the achievement-led style of modern business, outstanding contributions from individuals further careers and earn rewards. Any rewards, however, must be motivational. Reward appropriately any contributions that are of genuine benefit to the organization. Emphasizing Achievement The Japanese have one of the most hierarchical societies, and respect for...
Month: August 2022
EMPOWERING STAFF Most organizations run on rulings that are passed down to the staff from top management; this is demotivating. In contrast, delegating powers traditionally kept at the top not only motivates, but also raises everyone’s levels of performance. Encouraging Input In most cases, people are experts in their...
KEYS TO EFFECTIVE CREATION AND MANAGEMENT OF A MULTICULTURAL WORKFORCE A multicultural work force is one wherein a company’s employees include members of a variety of ethnic, racial, religious, and gender backgrounds. Most of today’s business owners and corporate executives recognize that attention to the challenges and opportunities associated with...
HOW TO SUCCEED AT A TRULY SEASONAL BUSINESS In a business that is truly driven by the seasons, there are steps that can be taken to ensure greater success. The two most important factors are managing cash flow and hiring the right employees. Finding and keeping good employees is another...
WHY COMPANY VISION AND VALUES ARE IMPORTANT Vision Every great company begins with the entrepreneur’s vision of what that company will become. Just as top professional athletes envision everyday play of an upcoming game before they ever set foot on the playing field, so do entrepreneurs envision the kind of...
HOW TO BECOME A SOCIALLY RESPONSIBLE COMPANY Today, it is not enough to have a successful business and make a profit. The business must hold itself to a higher standard of social responsibility by giving something back to the community or communities in which it does business, and through them,...
WHY EXIT PLAN IS IMPERATIVE FOR ENTREPRENEURS Many first-time entrepreneurs have questioned the need for an exit plan, or harvest plan, because they are more concerned with launching the business and making it a success than with thinking about how they are going to get out. But even though some...
HOW A COMPANY CAN GROW BY GOING GLOBAL Today the question for a growth-oriented company is not “Should we go global? But “when should we go global?” There are many reasons why entrepreneurs must consider the global market even as early as the development of their original business plan. For...
GATHERING COMPETITIVE INTELLIGENCE One of the weakest portions of any feasibility analysis or business plan is the competitive analysis. This is because an entrepreneur typically looks only at what can easily be seen on the surface rather than digging for what is not so obvious. It is important for entrepreneurs...
