KEY ELEMENTS OF DEBT COLLECTION PROCESS Debt collection is the practice of obtaining payments from customers for purchases that have been made on credit. Devising and maintaining an efficient and effective system for collecting on overdue accounts should be a priority from every business. But many companies fail to give […]
Management
GUIDELINES FOR DETERMINING FACILITY LAYOUT AND DESIGN Facility layout and design is an important component of a business’s overall operations, both in terms of maximizing the effectiveness of production processes and meeting employee needs and/or desires. Facility layout is the physical arrangement of everything needed for the product or service, […]
WHY CREATING A DISASTER AND RECOVERY PLAN IS RIGHT FOR BUSINESS Business owners are strongly encouraged to make contingency plans for responding to and recovering from disasters that may befall them. Analysts note that disasters, whether they take the form of floods, corporate espionage, fire, health pandemic, or power outages, […]
STEPS TO OBTAINING CREDIT APPROVALS FROM LENDERS Many businesses must rely on loans or other forms of credit to finance day to day purchases or long-term investments in facilities and equipment. Credit is one of the foundations of the any economy, and businesses must obtain credit in order to compete. […]
WHEN SECURING A BUILDING CONTRACTOR BECOMES INEVITABLE Many successful businesses eventually decide to expand their operations by purchasing, leasing, or building a new facility. In some instances, the business in question relocates its entire operation in the new facility. In other cases, the business may use the new facility to […]
ADDRESSING TEMPORARY CASH FLOW PROBLEMS IN TROUBLED TIMES Cash management is a broad term that refers to the collection, concentration, and disbursement of cash. It encompasses a company’s level of liquidity, its management of cash balance, and its short-term investment strategies. In some ways, managing cash flow is the […]
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 […]
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 […]
