STEPS TO DEVELOPING A CORPORATE CULTURE THAT WORKS Corporate culture refers to the shared values and beliefs that characterize members of an organization and define its nature. Corporate culture is rooted in an organization’s goals, strategies, structure, and approaches to labor. As such, it is an essential component in any...
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TIPS FOR MANAGING BUSINESS CYCLE DOWNTURNS A business cycle is a sequence of economic activity in a nation’s economy that is typically charac6erised by four phases – recession, recovery, growth, and decline – that repeat themselves over time. Economists note, however, that complete business cycles vary in length. The duration...
WHEN AUTOMATION BECOMES NECESSARY FOR A SMALL BUSINESS Automation refers to the use of computers and other automated machinery for the execution of business-related tasks. Automated machinery may range from simple sensing devices to robots and other sophisticated equipment. Automation of operations may encompass the automation of a single operation...
STEPS TO SUCCESSFUL INVESTOR PRESENTATIONS Investor presentations are an important but often overlooked aspect of entrepreneurial efforts to secure financing for their businesses. Presentations are particularly important to business owners hoping to raise money from private investors. Whereas institutional investors such as banks rely primarily on financial statements, business plans,...
WHEN TO BUILD A CUSTOMER PROFILE As mass marketing’s appeal begins to fade, it is being replaced by target marketing. Target marketing means knowing as much as possible about your current and potential customers and reaching them through very specialized advertising or marketing campaigns. The first question to ask when...
GUIDELINES FOR DETERMINING FACILITY LAYOUT AND DESIGN Facility layout and design is an important component of a business’s overall operations, both in terms of maximizing the effectiveness of production processes and meeting employee needs and/or desires. Facility layout is the physical arrangement of everything needed for the product or service,...
STEPS TO OBTAINING CREDIT APPROVALS FROM LENDERS Many businesses must rely on loans or other forms of credit to finance day to day purchases or long-term investments in facilities and equipment. Credit is one of the foundations of the any economy, and businesses must obtain credit in order to compete....
STEPS TO TERMINATE EMPLOYEE THE RIGHT WAY Employee termination is the process by which an organization ends an individual’s employment against his or her will. Termination may occur for “cause,” examples of which include poor job performance, lack of “fit” with the organization, inability to perform job responsibilities, conflict with...
THE ESSENCE OF EMPLOYEE SCREENING PROGRAMS Trustworthy, qualified employees are an essential part of any business. This is especially true of businesses, where every employee counts and where interpersonal dynamics often assume heightened importance. As a result, pre-employment screening programs have become an increasing visible part of the business landscape....
HOW INCUBATORS FACILITATE BUSINESS SURVIVAL Business incubators are business assistance programs that provide entrepreneurs with an inexpensive startup environment and a range of administrative, consulting, and networking services. In essence, these programs, which may be managed by econo0mic development agencies, local governments, for-profit businesses, or colleges and universities, serve as...
