HOW PURCHASING PROCESS CAN REDUCE BOTTOM-LINE COSTS AND IMPROVE CUSTOMER SATISFACTION Purchasing is the act of buying the goods and services that a company needs to operate and/or manufacture goods. Given that the purchasing department of an average company spends an estimated 50 to 70 percent of every revenue in...
management
TECHNIQUES FOR MANAGING ORGANIZATIONAL CHANGE EFFECTIVELY Organizational change occurs when a company makes a transition from its current state to some desired future change. Managing organizational change is the process of planning and implementing change in organizations in such a way as to minimize employee resistance and cost to the...
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...
HOW TO MANAGE YOUR COLLEAGUES One of the most difficult things to get right is managing interruptions from colleagues. Either you become too available to each other, in which case you lose control of your time, or you are too distant and fail to take advantage of each other’s abilities....
MANAGEMENT COMPETENCIES THAT PROMOTE RAPID COMPANY GROWTH Entrepreneurial managers need a sound foundation in what is considered traditional management skills. The list below is divided into two cross-functional areas (administration and law and taxation) and four key functional areas (marketing, finance, production and operations, and microcomputers). Technical skills unique to...
How to prepare your business for coronavirus – 18 protection steps The novel coronavirus that causes respiratory disease COVID-19, and that was first detected in China, has now been detected in 60+ locations internationally, including in the United States. In response, some Americans are cancelling and/or limiting both domestic travel...
Manage What? for Managers Responding Assertively to a Customer Complaint You are the assistant manager of a paint store. Your store manager and all the service technicians have already gone home for the day. The phone rings and you find yourself talking to Mrs Philip, a customer who says (in...
The Trade Area The Trade Area is the region from which the entrepreneur expects to draw customers. The type of business will largely determine the size of the trade area. For example, if a business sells general merchandise that can be found almost anywhere, the trade area is much smaller;...
Financial Incentives Most community governments are faced with cash needs that go well beyond the tax tolerance level of their citizens; consequently, they work diligently with economic development agencies to attract new business – and the accompanying tax revenues – into the community. One of the ways they attract...
Finding The Appropriate Business Site If a new venture cannot operate as a virtual organization, a significant part of the organizing process is finding an appropriate site for doing business. Most people are familiar with the three key factors for determining value in home sites: “location, location, location”. Similarly, the...
