WHEN DIVERSIFICATION BECOMES THE BUSINESS OPTION Diversification is the process of entering new business markets with new products. Such efforts may be undertaken either through acquisitions or through extension of the company’s existing capabilities and resources. The diversification process is an essential component in the long range growth and success […]
Business
HOW TO SECURE DEALERSHIP AND DISTRIBUTORSHIP Distributorship and dealership are in essence a license to distribute a product. Both dealers and distributors work with a manufacturer to get its goods to the buyer. Both dealers and distributors have a continuing relationship with the licensor of the product, but do not […]
Federal Government of Nigeria and the Cooperate Affair Commission (CAC) has award contract of Free Business Name registration to some Aggregators and Focal Persons to register 250,000 businesses for free across the 36 states and F.C.T Abuja. The businesses will be registered under the CAC Business Name registration package which […]
HOW BRAINSTORMING CAN PROVIDE SOLUTIONS TO BUSINESS PROBLEMS Brainstorming is a group problem-solving technique that is intended to help members develop innovative new approaches in an unthreatening environment. Brainstorming in its most basic form involves stimulating all the members of a group to express a variety of ideas, which are […]
HOW AUTOMOBILE LEASES WORK Leasing an automobile is an alternative to purchasing that usually enables consumers to pay lower up-front costs and make affordable monthly payments. At the end of the lease period, however, the consumer does not own the vehicle. Instead, consumers opting for automobile leasing arrangements pay for […]
HOW ACTIVITY-BASED COSTING WORKS Activity-based costing (ABC) is an accounting method that allows businesses to gather data about their operating costs. Costs are assigned to specific activities – such as planning, engineering, or manufacturing – and then the activities are associated with different products or services. In this way, the […]
THE TURNAROUND PLAN FOR A TROUBLED COMPANY The Gestation Period of Crisis A crisis rarely develops overnight. The time between the initial cause of trouble and the point of intervention can run from 18 months to five years. What happens to a company during the gestation period has implications for […]
WHY BUSINESSES GET INTO TROUBLED WATERS The Cause Trouble can be caused by external forces, and not under the control of management. Among the most frequently mentioned are recession, interest rate changes, changes in government policy, inflation, the entry of new competition, and industry product obsolescence. However, those who manage […]
INTEGRATIVE BUSINESS GROWTH STRATEGIES – HOW TO GROW WITHIN THE INDUSTRY There are many opportunities for entrepreneurs to pursue integrative growth strategies – to grow their venture through acquisition. The acquisition is in many respects less about the financial ability of the entrepreneur to purchase another company and more about […]
INTENSIVE BUSINESS GROWTH STRATEGIES – HOW TO GROW WITHIN THE CURRENT MARKET (PART 2) Product Development One of the ways to exploit the current product market is to develop new products and services for existing customers or offer new versions of existing products. That is the tactic employed by software […]
