ELEMENTS OF NON-VERBAL COMMUNICATION Nonverbal communication – such as facial expressions, gestures, posture, and a tone of voice – is an important component of personal business interactions. Nonverbal communication can help a business owner to get a message across or successfully interpret a message received from another person. On the...
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HOW BUSINESSES CAN BENEFIT FROM ONLINE AUCTIONS Online auctions are sales transactions involving competitive bidding that are conducted over the internet. Whether the sales take place between individuals, between consumers and merchants, or between businesses, online auctions have enjoyed a rapid increase in popularity. In fact, some business analysts claim...
HOW BUSINESSES CAN ACCESS NON-TRADITIONAL FINANCING SOURCES Entrepreneurs can turn to a variety of sources to finance the establishment or expansion of their businesses. Common sources of business capital include personal savings, loans from friends and relatives. loans from financial institutions such as banks or credit unions, loans from commercial...
WHY ELEMENTS OF A LOAN PROPOSAL ARE IMPORTANT Loan proposals are formal, written documents that businesses must prepare when they approach potential lenders or investors for funding. A complete loan proposal package should consist of completed loan application forms (if required), and a comprehensive business plan with complete financial statements....
LOSS LEADER PRICING AS STRATEGY FOR SALES INCREASE Loss leader pricing is an aggressive pricing strategy wherein a store sells certain goods below cost in order to attract customers who will, according to the loss leader philosophy, make up for the losses on highlighted products with additional purchases for profitable...
INNOVATION AND BUSINESS SUCCESS Innovation is the basic driving force behind entrepreneurship and the creation of small businesses. When an individual comes up with an idea that has not previously been explored, or a niche that larger businesses have not been able to exploit, he or she may be able...
WHY A BUSINESS NEEDS INFORMATION BROKERS Information brokers provide, for a fee, information retrieval from publicly accessible data sources, most often databases. Information brokering first emerged as a business opportunity for individuals in the mid-1950s. Also known as independent information specialists, brokers often do much more than gather the information....
MULTITASKING Multitasking refers to the ability of an individual or machine to perform more than one task, or multiple tasks, at the same time. In the field of human resources, multitasking is a popular term that is often used to describe how busy managers or business practitioners are able to...
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...
