WHAT IS KNOWN ABOUT CREATIVITY Creative people are curious and strongly aware of their surroundings. They ask questions and aren’t afraid to do things differently. They are open to all ideas, believing that everyone is worthy of at least initial consideration, and they seem to have a high tolerance for...
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HOW TO INCREASE THE CHANCES OF BUSINESS SUCCESS Starting any business, large or small, requires a tremendous amount of time, effort, and resources. It makes sense to start a business that has the potential to grow large and provide a good return on that investment, rather than spending that same...
COMMON OBSTACLES TO BUSINESS GROWTH IN RURAL AREAS Rural businesses are those firms that are established and operate in rural settings, far from the metropolitan areas that have traditionally been the site of most non-agricultural business enterprises. Most businesses continue to conduct business in large cities or thriving suburbs, but...
KEY STEPS INVOLVED IN DOWNSIZING Layoffs and downsizing are both terms that refer to reductions that companies make in the number of employees on the payroll, although the term ”layoff” is used more often to refer to temporary displacement, while “downsizing” generally has more permanent connotations. Other terminologies sometimes used...
GETTING THE BEST FROM PEOPLE: MOTIVATING INDIVIDUALS Trying to motivate individuals is always tricky because of the variations between them, and how they interact with your own personality and motivation. Remember at all times to serve your ultimate interest – obtaining the right outcome. Assessing Individuals To motivate well, start...
HOW TO BE A GOOD MANAGER Managers often go on course to learn leadership, but good leaders are not necessarily good managers. Leadership is only a one part of being a manager, and while a successful manager needs leadership skills, other abilities are equally important. Managing to Motivate An essential...
IMPORTANCE OF CROSS-FUNCTIONAL TEAMS IN NEW PRODUCT DEVELOPMENT The simplest definition of cross-functional teams (or CFTs) is teams that are made up of people from different functional areas within a company – marketing, engineering, sales, and human resources, for example. These teams take many forms, but they are most often...
METHODS OF ACHIEVING ECONOMIES OF SCOPE Economies of scope are cost advantages that result when firms provide a variety of products rather than specializing in the production or delivery of a single product. Economies of scope also exist if a firm can produce a given level of output of each...
STEPS TOWARD IMPROVING CORPORATE IMAGE AND IDENTITY Corporate image, or reputation, describes the manner in which a company, its activities, and its products or services are perceived by outsiders. In a competitive business climate, many businesses actively work to create and communicate a positive image to their customers, shareholders, the...
STEPS IN WRITING A SUCCESSFUL BUSINESS PROPOSAL Business proposals are documents that attempt to persuade targeted clients to buy a particular service or product. These documents which are used in academia and government as well as business and industry, may range from relatively short (a few pages) proposals to “formal”...
