The Essentials The essentials to the production process include: capital, land, and organization. Form Utility is the value producers produce materials in the creation of goods and services. Manufactures take raw materials and change into a final products. Service providers provide services to patrons. Production processes have three requirements: Build and Deliver products in response … Continue reading Production Processes
Entrepreneurship Whether you have a goal for some point later in your life, or in the not so distant future to own a business; you should understand entrepreneurship pretty well in order to succeed. An entrepreneur creates a unique value proposition using the five factors of production; Land, Labor, Capital, Entrepreneurship, and Knowledge. There are … Continue reading Three Places To Find Your Entrepreneurship
Risk Management Please consult with your insurance, legal or risk management team member for further information specific to your business. Risk in business refers to the change of loss, the profitability after an event of loss, the amount of possible loss and triggering events. Risks can be classified into two types, those of pure and … Continue reading Risk Management in Business
Consider a Few Decisions What kind of people do you want to meet and be around. What are your interests, or what is important for the people you are trying to serve. you have probably already answered these questions and know what kind of business to start. Before you start buying inventory you should know … Continue reading 4 Product Strategies
Put On The Polish Good manners are increasingly becoming the standard in corporate America. As professions become more competitive individuals and groups with the most shine make it to the top. It must become 2nd nature to achieve and maintain a competitive advantage in today's work environment. [An update on Etiquette has been planned for … Continue reading Professionalism
Organizational Climb There are two paths to success in business. The first path towards success in business is being part of an organization, where responsibility and wealth is divided many times and shared among members of the organization. Organizations are known for creating specialized skills with each member to excel at a specific operation, while … Continue reading Entrepreneurship Versus The Organizational Climb
Finance Finance describes the business function, to forecast and manage funds. A large part about being successful in Finance includes always behaving ethically and being attentive to details. Ethics drive a company when it takes financial liability to an investor from borrowing and must act responsibly in order to preserve its right and reputation, so … Continue reading Funding for A New Business
Cash Flow Cash Flow describes the process of cash coming in and cash going out of a business. Imagine you bought a computer from a friend for $250 that you will pay at the end of the week. You turn around and sell the computer to a friend for $400 that they will pay at … Continue reading Cash Flow
Financial Planning is the process of analyzing long and short term cash flows to and from firm. Forecasting and managing funds in order to optimize the firm's profitability.
Market Segmentation is one strategy a firm can use to make its customers happy. It allows the firm to re-engineer its offering to customer's liking.