The strategic management process involves analyzing organisational capabilities and resources. It includes a SWOT analysis to assess an organisation’s strengths and weaknesses, as well as external forces and opportunities. The main goal of the SWOT analysis is to identify core competencies and establish an appropriate course of action. Once the Read More
When pitching to potential investors, it’s essential to have a clear and concise company story that can be easily summarized in a sentence or two. This story should explain what your company does, who your target market is, and how you plan on making money. Investors need to know that Read More
When you make an acquisition, you must account for it as an asset. Your accounting for fixed assets will debit the account for the purchase price of the asset and credit the cash account for the same amount. For example, if a temporary staffing agency purchases $3,000 worth of furniture, Read More
The fundamental principles of Lean management are simple: create a continuous flow of value and eliminate waste. This means that you should analyze your process from start to finish, eliminating steps that do not create value for customers. When done right, Lean will produce products and services at the highest Read More
MARKETING is the process of exploring and delivering value to your target market. It may include choosing your target product or audience. It may also involve determining the right message to convey to your audience. Here are some ways to use marketing to create value for your audience. Here are Read More
The study of management focuses on how an organisation can achieve its objectives by enhancing its productivity, efficiency and effectiveness. The goal of management is to utilize the factors of production efficiently and effectively to meet the organization’s goals. As such, it must be able to satisfy the needs of Read More
The term “financial literacy” has many definitions. For example, it means being able to manage your debt responsibly and understand how credit and investment products work. As a matter of fact, there are several basic steps you can take to improve your financial literacy. These include creating a budget and Read More
There are many types of startups and the importance and types of each is different. A startup is a business that is in its early stages and aims to disrupt a market. For example, Airbnb, which offers vacation rentals on demand, is a startup that aims to change this. These Read More
The activities of the finance department range from basic bookkeeping to providing information and supporting managers in strategic decisions. The exact role of the finance department depends on the owner and the business’s specific needs. Read on to learn more about the different types of activities performed by this important Read More
In order to make a business idea profitable, it must have a strong market demand. When there is a large demand for your product or service, more investors are likely to invest in your business. You also want to make sure that the market is sustainable so you don’t end Read More
