HOW PUBLIC RELATIONS CAN HELP SMALL BUSINESSES Public relations describes the various methods a company uses to disseminate messages about its products, services, or overall image to its customers, employees, shareholders, suppliers, or other interested members of the community. The point of public relations is to make the public think...
Management
VARIABLE PAY AND THE MODERN BUSINESS ENVIRONMENT Variable pay programs are an increasingly popular mode of compensation in today’s business world. These programs, which are also sometimes referred to as “pay for performance” or “at risk” pay plans, provide some or all of a work force’s compensation based on employee...
STEPS IN MEASURING AND INCREASING PRODUCTIVITY In its simplest terms, productivity is the ratio between the quantity of goods and services produced and the quantity of resources used to produce them. Economists have come up with a number of intricate ways to measure productivity, but any business owner knows that...
STEPS TO DEVELOPING A WORLD-CLASS BUSINESS Becoming a world-class business is not a simple process, and requires effort and commitment from the entire organization. Developing a strategy is essential if world-class status is to be achieved. World-class is a concept difficult to define. However, an acceptable working definition is that...
KEYS TO SUCCESSFUL PARTNERSHIPS WITH LARGE COMPANIES BY SMALL BUSINESSES Many small business owners see large businesses exclusively in competitive terms. And for small enterprises, that characterization is an accurate one. An independent record store owner, for example, will undoubtedly and legitimately regard the arrival of a new record store...
WHY REENGINEERING OFTEN FAILS Reengineering is a management tool that is popular with many organizations. Like many such tools, it aims to cut costs while at the same time increasing productivity and providing higher levels of service. And while all this is true, reengineering still offers much more. The concept...
KEYS TO SERVICE BUSINESS SUCCESS Service businesses are enterprises that are established and maintained for the purpose of providing services (rather than or in addition to products) to private and/or commercial customers. Services have been defined as “activities, benefits, or satisfactions which are offered for sale or are provided in...
WHY LIQUIDATION MIGHT NOT BE A SIGN OF COMPANY FAILURE Many factors can contribute to tough financial times for a business, including a struggling economy, hostile takeover, natural disaster, or illegal activity such as theft or frauds. When a business encounters this type of financial turmoil, it may be forced...
KEYS TO ESTABLISHING A SUCCESSFUL PART-TIME BUSINESS Most entrepreneurs supplement their income by starting and maintaining part-time small businesses. The circumstances and goals of these business owners run the gamut, but many are operated out of the home and are utilized to supplement income derived from other sources (a fulltime...
WAYS IN WHICH ORGANIZATIONS ACHIEVE GROWTH Growth is something for which most companies, large or small, strive. Small firms want to get big, big firms want to get bigger. Indeed, companies have to grow if for no other reason than to accommodate the increased expenses that develop over the years....