RESTAURANT BUSINESS: HOW TO OUTSELL YOUR COMPETITORS Restaurant business is one of those businesses many people feel they can manage successfully. In most cases, success or failure here often reminds one that it is a business that must combine two things: (1) Your idea and skill concerning which food and […]
INTERNATIONAL MARKETING International marketing takes place when a business directs its products and services towards consumers in a country other than the one in which it is located. While the overall concept of marketing is the same worldwide, the environment within which the marketing plan is implemented can be dramatically […]
ORGANIZED GIVING IN FAMILY ENTERPRISES Many business owners engage in charitable giving, either as private individuals or in their corporate capacity. This charitable giving can take many forms, including sponsorship of local charitable events, donation of excess inventory, and sustained philanthropy in one or more areas through the establishment of […]
UNDERCAPITALIZATION: BANE OF BUSINESS FAILURE Undercapitalization is a situation in which a business has insufficient funds, or capital, to support its operations. Although undercapitalization can affect any business, it is particularly common and problematic for small businesses. In fact, undercapitalization is one of the warning signs of major financial trouble […]
WHY TELECOMMUTING IS BENEFICIAL FOR BUSINESS Telecommuting is a practice in which an employee works at a location – usually, but not always, one’s home – that is remote from the actual business facility at which he or she is employed. Under this arrangement, the employee maintains close contact with […]
HOW ADMIRABLE CONSUMER PACKAGING TAKES PRODUCT OFF THE SHELF Packaging refers to the container or wrapper that holds a product or group of products. Most commercial packaging serves two basic functions: protecting the product from damage during shipping, and promoting the product to the ultimate consumer. Some common types of packaging […]
HOW TO WORK WITH SUBCONTRACTORS Subcontracting refers to the process of entering a contractual agreement with an outside person or company to perform a certain amount of work. The outside person or company in this arrangement is known as a subcontractor, or may also be called a freelance employee, independent […]
THE CHALLENGE OF ATTAINING SUSTAINABLE GROWTH The sustainable growth rate (SGR) of a firm is the maximum rate of growth in sales that can be achieved, given the firm’s profitability, asset utilization, and desired dividend payout and debt (financial leverage) ratios. Variables typically include the net profit margin on new […]
USING ORGANIZATIONAL CHARTS TO STUDY ORGANIZATION STRUCTURE Organizational charts are detailed representations of organization structures and hierarchies. They are typically used to provide both employees and individuals outside the organization with a “snapshot” picture of its reporting relationships, divisions of work, and levels of management. Obviously, smaller firms – whether […]
KEY ISSUES IN OPERATIONS As an organization develops plans and strategies to deal with the opportunities and challenges that arise in its particular operating environment, it should design a system that is capable of producing quality services and goods in demanded quantities in acceptable time frames. Designing the System […]
