STEPS IN THE RISK MANAGEMENT PROCESS FOR SMALL BUSINESSES Risk management involves identifying, analyzing, and taking steps to reduce or eliminate the exposures to loss faced by an organization or individual. The practice of risk management utilizes many tools and techniques, including insurance, to manage a wide variety of risks....
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THE ALTERNATIVE OFFICING TREND Hoteling is a form of “alternative officing” which allows employees who travel on business or work flexible hours to reserve desk space at the employer’s offices as needed, rather than maintaining a permanent work space there. This allows the employer to make more efficient use of...
SETTING UP A TEAM: SETTING GOALS What is your team for? The question may sound obvious, but time spent at the beginning of a project in defining team objectives is crucial to a successful outcome. Make sure that you have clearly established the issues that the team needs to resolve....
SETTING UP A TEAM: PROVIDING SUPPORT FOR A TEAM A degree of independence is essential in successful teamwork, but few teams are able to stand completely alone. Nurture good relations and support systems within your organization that satisfy both your team’s needs and corporate requirements. Providing Basic Support Most teams...
HOW TO MATCH A TEAM TO TASK There are numerous types of team, formal and informal, each suited to fulfilling particular tasks. Team leaders need to understand the objectives and goals of their team clearly in order to match tasks to the most appropriate style of team. Formal Teams Formal...
EFFECTS OF A SMOKE FREE ENVIRONMENT ON CUSTOMERS The term smoke free environment is sometimes used indiscriminately to discuss both 100 percent smoke free areas as well as ventilated ones. Truly smoke free environment in a business is one in which no smoking is allowed within any company building or...
AUTOMATION AND THE SMALL BUSINESS Understanding and making use of automation-oriented strategic alternatives is essential for manufacturing firms of all shapes and sizes. It is particularly important for smaller companies, which often enjoy inherent advantages in terms of operational nimbleness. But experts note that whatever your company’s size, automation of...
REQUIREMENTS FOR SUCCESSFUL QUALITY CIRCLES A quality circle is a participatory management technique that enlists the help of employees in solving problems related to their own jobs. A quality circle is defined as “a small group of employees doing similar or related work who meet regularly to identify, analyze, and...
HOW TO DETERMINE OVERHEAD RATES Overhead expenses are those production and nonproduction costs not readily traceable to specific jobs or processes. Overhead expenses encompass three general areas: indirect materials, indirect labor, and all other miscellaneous production expenses, such as taxes, insurance, depreciation, supplies, utilities, and repairs. Therefore, overhead expense is...
KEY COMPONENTS OF A TYPICAL LICENSING AGREEMENT A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. In a typical licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented...
