Many of the strategies that were appropriate and effective in the past are no longer above reproach. In fact, we have learned over the years that the global marketplace is a dynamic place, full of turmoil; therefore, rethinking of past assumptions and engaging in out-of-the-box thinking is always required. Organizations […]
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SWOT Analysis: Knowing the Business Realities
Situational analysis is simply what it says: analyzing the situation. Before leaping into any action, the sales manager must analyze the business realities to determine what the best action would be. Additionally, after the action has been completed, another analysis must be done to determine the impact of the action on all […]
The Business Benchmarking Process
Benchmarking is the continuous process of measuring products, services, and practices against the toughest competitors or those companies regarded as leaders. Benchmarking is a method of comparing processes, products, and services against organizations with the best practices. You can benchmark best practices to identify how others achieve outstanding results, and […]
The Importance of External Advisors in Successful Companies
The engagement of talented consultants from various professional fields is essential to the success of the company. There are traditional areas, such as economic and legal matters, in which every company customarily hires outside advisors. But there are also professional consultants in other fields who may contribute to the company […]
The Importance of the Management Team in Successful Companies
It is important that the founding team be staffed by people with experience in technology and business. This is one of the main reasons why success stories of companies established and managed over time by only one entrepreneur are rare. In most cases, even when the venture has only one […]
What is Ratio Analysis
It is recommended that trend analysis be used when evaluating the balance sheet, income statement, statement of cash flows, and ratios. Ideally, five years' worth of data should be used. Trend analysis is the comparing of key ratios from each year against industry norms to pinpoint movement toward improvement or decline in […]
Common Questions in Strategic Planning
There are seven key questions in strategic planning, both for you and for your business. These are questions that you need to ask and answer over and over, throughout your career. Sometimes a new answer to any of these questions can dramatically change the direction of your business and your […]
Best Home Based Businesses and Opportunities
There are a few businesses that you can get up and running quickly if time is of the essence. If youve just lost a job or you cant take the one you have much longer, here are a couple of fast start ideas. 1. Private Tutor. To start this business, […]
How to Choose a Home Based Career?
There is one thing you can count on when you begin your own business. You wont be bored. There are plenty of details to work out; a number of tasks that await each day. You wont find yourself looking at the clock very often, , thats for sure! What do […]
The Three Phase Change Management Framework for E-Business Transformation
Phase I -: People It is very important to have a few champions who can spearhead the change process. If a company finds that there are no existing employee members who can own the e-transformation process, then the company needs to recruit from outside. These champions are not only visionaries […]
How to Prepare a Good Business Budget
Preparing a good business budget is an essential step for the success of any business. Not only an effective budgeting strategy influences long-term development for the company but also establishes solid relationships with other business partners and prospective customers. Sales Planning Consider the historical patterns of behavior for your customers, […]
Why Pinterest Is The Greatest Thing Since Sliced Bread
Not sure, if Paul Sciarra, Evan Sharp and Ben Silbermann derived their inspiration from the many sliced breads — neat, uniform and clean-cut - and went on to create Pinterest. But, if they really did, Pinterest is the greatest thing since sliced bread. It's wonderful how Pinterest marked a growth […]