HOW TO IDENTIFY POTENTIAL RISKS IN BUSINESS AND CALCULATING THE PROBABILITY THAT A RISK WILL OCCUR Risk is a fact of business life, and a company’s exposure to risk increases as the venture grows. Understanding where the risk lies allows the enterprise to respond effectively through process improvement strategies and...
Management
IMPORTANCE OF CHOOSING AND MANAGING A LEGAL COUNSEL IN BUSINESS Almost all companies need and use the services of attorneys, and entrepreneurial ventures perhaps more than most. It may be necessary for entrepreneurs to possess extensive knowledge of the law in addition to selecting good attorneys. Various authors have described...
HOW TO STRUCTURE A DEAL What Is a Deal? Deals are economic agreements between at least two people. In the context of entrepreneurial finance, most deals involve the allocation of cash flow streams (with respect to both amount and timing), the allocation of risk, and hence the allocation of value...
What Is Reverse Logistics? The Delivery Process You’re Overlooking What is Reverse Logistics? Reverse logistics is any part of the logistics process where goods or services move from what is typically their final destination (the customer) back to their origin (or in some cases, to a third location). Reverse logistics...
MANAGING FORCED CORPORATE TRANSITION …strategies for circumventing the ‘sin bin’ of post-COVID-19 economy By Chris N. Ohanemu, Ph.D INTRODUCTION In this piece, we are not talking ECONOMICS, rather, we shall discuss MANAGEMENT. There is nothing new under the sun and those who ‘have visited heaven’ have not convinced...
Work Orders: Definition, Examples, and How to Complete Yours Faster Maintenance, while one of the most important parts of any business, has been slow to evolve. For most companies, work orders are handled the same way they were fifty years ago. 75% of companies still use paper, spreadsheets, or nothing...
DIVERSIFICATION GROWTH STRATEGIES – HOW TO GROW OUTSIDE THE INDUSTRY When entrepreneurs expand their businesses by investing in or acquiring products or businesses outside their core competencies and industries, they are employing Diversification Growth Strategy. Generally, but not always, this strategy is used when the entrepreneur has exhausted all growth...
INTENSIVE BUSINESS GROWTH STRATEGIES – HOW TO GROW WITHIN THE CURRENT MARKET (PART 1) Intensive growth strategies focus on exploiting the current market fully – that is, expanding the market share to the greatest extent fully. This is accomplished by increasing the volume of sales to current customers and the...
HOW MANAGEMENT FACTORS CAN AFFECT BUSINESS GROWTH The degree of growth and the rate at which a new venture grows is apart from marketing also dependent on the management strategy. Management factors that affect a firm’s ability to grow: The Inertia of Success When a new venture has survived and...
HOW TO MAKE CUSTOMERS COMFORTABLE (PART 2) Putting The Customer In Control You want to make your customers happy when they do business with you. At least half of the reason people buy is that they have been put in a buying mood. You put them in a buying mood...
