LABOR SURPLUS AREAS AS EVIDENCE OF COMPANY CONTINUAL EXISTENCE A labor surplus area is an economic region in which the number of prospective – and qualified – employees for positions with a company or companies exceeds the number of jobs available. This state of affairs can be an important component […]
HOW JOB DESCRIPTION CAN BE A VALUABLE BUSINESS RESOURCE WHEN USED CORRECTLY At the heart of the recruitment process lies the general concept that a company needs to hire people to complete certain tasks or group of tasks within the organization. The description of the various responsibilities of each position […]
THE ATTRACTIVENESS OF FLEXIBLE WORK ARRANGEMENTS Flexible work programs are work arrangements wherein employees are given greater scheduling freedom in how they fulfill the obligations of their positions. The most commonplace of these programs is flextime, which gives workers far greater leeway in terms of the time when they begin […]
KEYS TO FINDING OPTIMAL FIRM SIZE Optimal firm size refers to the speed and the extent of growth that is ideal for a specific business. Optimal firm size is dependent on a variety of internal and external factors. For some home-based businesses, the optimal firm size may be the two […]
NET INCOME AS INDICATOR OF FINANCIAL HEALTH OF BUSINESS Net income is an accounting term that can be defined as the difference between a company’s total revenues (money earned from sales or investments) and total expenses of money paid to produce goods or services, plus salaries, rent, depreciation, etc.), for […]
THE VERSATILITY OF A MOBILE OFFICE Advances in communication technology, entrepreneurial creativity, and other ever-more-hectic pace of modern life have all combined to encourage the development and refinement of mobile business offices. Indeed, entrepreneurs have been a driving force in the creation of computers, telephones, and other office equipment and […]
CHARACTERISTICS OF EFFECTIVE MISSION STATEMENTS Mission statements are documents that are intended to serve as a summary of a business’s goals and values. Their contents often reflect the fact that they are utilized both as an internal performance enhancer and as a public relations tool. Mission statements serve several purposes, […]
MARKET ANALYSIS Market analysis is a tool companies use in order to better understand the environment in which they operate. It is one of the main steps in the development of a marketing plan. The first step is to conduct market research – or gather information through direct mail, telemarketing, […]
BENEFITS OF TARGET MARKETING FOR SMALL BUSINESSES A target market is a group of customers with similar needs that forms the focus of a company’s marketing efforts. Similarly, target marketing involves tailoring the company’s marketing efforts to appeal to a specific group of customers. Selecting target markets is part of […]
THE VALUE SELF-ASSESSMENT Self-assessment is a tool that involves performing a critical analysis of one’s own goals, interests, skills, and experience. Among its many applications in the business world are employee development, team performance, and organizational change efforts. But self-assessment is perhaps most valuable for would-be entrepreneurs considering starting a […]
