HOW CROSS-FUNCTIONAL TEAMS ENHANCE PRODUCT DEVELOPMENT The most simple definition of cross-functional teems (or CFTs) is teams that are made up of people from different functional areas within a company – marketing, engineering, and human resources, for example. These teams take many forms, but are most often set up as...
Month: January 2023
WHY CLUSTERING IS IMPORTANT FOR BUSINESS Clusters are geographic concentrations of interconnected companies or institutions that manufacture products or deliver services to a particular field or industry. Clusters typically include companies in the same industry or technology area that share infrastructure, suppliers, and distribution networks. Supporting firms that provide components,...
CLOSELY HELD CORPORATIONS Closely held firms are those in which a small group of shareholders control the operating and managerial policies of the firm. Over 90 percent of global businesses are closely held. These firms defer from most publicly traded firms, in which ownership is widely disbursed and the firm...
ASSEMBLY LINE METHODS An assembly line is a production arrangement of workers and equipment in which the product that is being assembled passes consecutively from operation to operation, with each station adding to the work of previous stations, until the product is completed. Assembly line methods were originally introduced to...
ELEMENTS OF EMPLOYEE REINSTATEMENT In the past, it was a rare occurrence if an employee left a company and then returned to it at a later date, either in the same position or a completely new one. Many companies strictly enforced policies that discouraged this sort of hiring of ex-employees,...
TIPS FOR EMPLOYERS CHECKING REFERENCES Employee references are the positive or negative comments about an employee’s job performance provided to a prospective employer. In most cases, a prospective employer will contact a person’s current or former employer to seek references as part of the process of considering that person for...
