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 […]
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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 […]
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, […]
