NEW VENTURE CREATION: FROM FEASIBILITY CONCEPT TO BUSINESS PLAN Simply stated, feasibility is about the business idea and testing the business concept. The business plan is about the execution strategy that will bring that idea to market. The business plan serves three purposes: (1) it serves as a reality check...
WHY BUSINESS MODELS FAIL Developing a Business Concept A business concept is a concise description of an opportunity that contains four essential elements: The customer definition; the value proposition (or benefit to the customer) and the compelling story; the product/service; and the distribution channel or means of delivering the benefit...
BENEFITS OF WEIGHING DELIVERY OPTIONS Virtually every business owner makes use of delivery services in their operations. For some companies, reliable, timely deliveries of parcels, letters, and documents are an essential element of their overall business practices. For others, delivery services are needed only occasionally to distribute contracts, business proposals,...
HOW TO EVALUATE ADVERTISING RESULTS Once a business owner has successfully designed and placed an ad (or had the ad successfully designed and placed by an agency), he or she will be eagerly awaiting the increased sales and advertising promises. While advertising can be an effective means of increasing profitability,...
HOW TO DEVELOP ADVERTISING BUDGET The advertising budget of a business typically grows out of the marketing goals and objectives of the company, although fiscal realities can play a large part as well, especially for new and/or small business enterprises. In some cases, your budget will be established before goals...
WHAT IS KNOWN ABOUT CREATIVITY Creative people are curious and strongly aware of their surroundings. They ask questions and aren’t afraid to do things differently. They are open to all ideas, believing that everyone is worthy of at least initial consideration, and they seem to have a high tolerance for...
COMMON OBSTACLES TO BUSINESS GROWTH IN RURAL AREAS Rural businesses are those firms that are established and operate in rural settings, far from the metropolitan areas that have traditionally been the site of most non-agricultural business enterprises. Most businesses continue to conduct business in large cities or thriving suburbs, but...
TECHNIQUES FOR MANAGING ORGANIZATIONAL CHANGE EFFECTIVELY Organizational change occurs when a company makes a transition from its current state to some desired future change. Managing organizational change is the process of planning and implementing change in organizations in such a way as to minimize employee resistance and cost to the...
KEY STEPS INVOLVED IN DOWNSIZING Layoffs and downsizing are both terms that refer to reductions that companies make in the number of employees on the payroll, although the term ”layoff” is used more often to refer to temporary displacement, while “downsizing” generally has more permanent connotations. Other terminologies sometimes used...
GETTING THE BEST FROM PEOPLE: MOTIVATING GROUPS People behave differently in groups. Mob hysteria is one example. Its benevolent opposite is the spirit of togetherness that can animate groups of any size. Motivate staff by mobilizing support for their group aims and setting strategies for tackling objectives. Leading a Team...
