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Business Management Information
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If You Build It, Investors Will Come When you begin to write your business plan or a section within it, you probably ask yourself, "What should I talk about? What key points should I bring out that are important to potential investors?" Budgets! Budgets! There I've said it. For some the most hated and feared word in business. But it doesn't have to be that way. As a matter of fact, a well thought out and constructed budget can be the small business owners best friend. After all, a budget is just a laid out plan to produce profits and profits is what we are all after. Morale Boosters: Feed the Troops First When economic conditions turn tough or when the heavy work load seems never-ending, leaders tend to forget the "basics"?building commitment beyond the paycheck. It's the small things everyday that can bring down morale and it's the small things everyday that can raise performance. A holiday party or picnic once or twice a year probably won't do it. Rather, it's a leader's sincere recognition that employees are assets to be valued, not tools to be used up and discarded. Here are quick ways too boost morale. Deciding What to Delegate DECIDING WHAT TO DELEGATE: Once the benefits of delegation are established and obstacles removed, the next step in the delegation process is to decide what work can and should be delegated. In general, work to be delegated should adhere to the following guidelines: - It can be handled adequately down the line. - All necessary information for decision making is also available down the line. - The work involves operational detail rather than planning or organization. - The task does not require skills unique to the manager or position. - An individual other than the manager has, or can have, direct control over the task. Performance Reviews That Actually Improve Performance Employee performance reviews are one of the most dreaded tasks by most managers. It is hard to win here ? you can never say enough good things, and one word of criticism is generally the only thing they will remember. Understanding How Change Has Changed There seems to be an assumption that change is a single traumatic event that is thrust upon us and over which we have no control. New Leadership For A New War Military analysts call this "asymmetrical" war (as if war has a terrible symmetry); and we know that it will be as different from conventional war as three-dimensional, blindfolded chess is from conventional chess. But one thing is certain, leadership lies at the heart of achieving victory. You only have to look to history to understand that when people needed to accomplish great things, whether in war or peace, great leaders had to rise to the occasion. Make the Most of Your Time - Focus on Strengths Once working and focused in tune with what they do best, your people are freed up to deliver their very best performances. They encourage others to work to their strengths too. Thus, each is far more effective. By recognising this in each other, there is another benefit. Everyone realises the value that differences can bring to the team, business or organisation. And that is valued - people work together much more freely. Controlling Your Cash Flow Introduction Hiring for Success Hiring someone new to work in your business is one of the most critical decisions a business owner makes, although it is not always given the justice it deserves. If a position is vacant, or additional staff are needed, recruitment decisions are often driven by the pressure to get someone in quickly, rather than waiting for the best person to fill the job. Lack of proper and systematic recruitment process can also result in a high cost to the business. Innovation Management: The Quality and Quantity of the Idea Pool Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation. Knowing versus Doing - Execution In The Workplace Have you ever worked with someone who always seemed to have the answers; who always seemed to know what should be done; who could always quote the experts view on a certain situation, but for some reason, just couldn't perform as expected? Manage Your Time - Save Your Business. If you work from home, chances are you already know that you're really pulling "double duty". You probably work on your business while doing the laundry, corralling the kids, or fixing dinner... and let's not forget all the phone calls from family and friends expecting you to run errands or just "go out" for an afternoon of fun. Turbo-Charge Your Rollout with ERM Employees are the often-neglected stakeholders in the success or failure of a CRM (Customer Relationship Management) initiative. But employees don't always resist new ways of doing business. If you factor in relationship management practices that engage people in the change process, you can circumvent significant resistance and actually speed up implementation. Good Idea Generation ? A Process It seems incongruous that good idea generation can be a process or that a process may lead to insight. However, if you examine the behaviour of people who regularly generate good ideas ? such as creatives in advertising - you will find that common patterns of behaviour do emerge and it is possible to make insight more likely. Can What Someone Does Off-hours Affect Your Business? Q: How much do I have to worry about what people who are part of my far-flung "virtual" corporation do when they're not working directly for me? I can't share too many details because the situation is touchy, as you might expect, but basically I have someone working for me as a writer, contributing material for my blog, and I have been hearing that he's writing some pretty far out, offensive material on other sites. Do I need to worry about it? Managing Change in the Workplace Change is exhilarating. Change is terrifying. Change is badly needed around here. Whatever your attitude is to change, it is the most reliable companion you will likely ever have. It will always be with you so are better off making friends! Here are three tips on managing change in your workplace: Seven Cs to Avoid Procedure Writing Errors You do your best to make sure your organization is operating as effectively as possible. But if your policies and procedures are incomplete, outdated, or inconsistent, then they are not driving the performance improvement they should. When employees try to use incomplete or undefined procedures, waste and costly errors soon follow. Training Managers and New Trainers Training managers use many of the same interpersonal and analytical skills that other types of departments use. In particular, they need to be good communicators, and highly skillful in interpersonal relations. They need to delegate effectively, support their staff emotionally, give accurate and timely feedback, and set departmental goals that are consistent with organizational goals. Barbara L. Thornton, an independent training consultant in the St. Paul area, says that training managers need to exercise leadership skills in guiding their people. "[A good training manager is] a good coach," adds Robert Bertschy. Use Every Weapon You Have One of the strongest weapons available allows business, non-profit and association managers to begin changing the behaviors of their key external audiences in ways that lead directly to achieving their primary operating objectives.
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