POSTS TAGGED : business management

Keeping Business Strong Whilst Combatting Inflation

No one is unaffected by the cost of living crisis affecting countries across the globe, and the world of business is certainly no different.

Business analysis

Inflation rates in the United States were at 7.7% in October 2022, resulting in your business having to contend with rising interest rates, while there are supply pressures as a result of having to pay for products and materials – not to mention the impact on shipping and delivery prices.

This can have a direct impact on your purchasing power but there are ways to keep your business strong while combatting inflation.

Pricing audits

First and foremost, it is time to keep control of your spending – now is the moment to really examine your costs.…

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Griffin Ainsworth Warns Against 5 Management Mistakes Businesses Make During The Holiday Season

The holiday season is an exciting and busy time for businesses. There’s an air of anticipation, and for many businesses, this season brings in a massive chunk of their annual revenue. Although it can be a very profitable time, it can also be a disaster if you don’t manage it properly. Griffin Ainsworth discusses five common mistakes managers make during the holidays and what they can do to avoid them.

Business planning

1. Not Planning Ahead

One of the biggest mistakes businesses make during the holiday season is not planning ahead. Without proper planning, businesses won’t have enough staff or supplies to meet customer demand.…

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A Holistic Approach To Effective Business Management Exploring Marketing, Finance, Research and Analysis

Arising as one of the key paradigms for innovative enterprises, a holistic approach to effective business management strategy is all about establishing synergy within the enterprise that successfully reinforces the image of a company in the minds of consumers. It is critical for firms to remain competitive in the face of changing customer attitudes, needs and wants.

Business management meeting

For those visionaries who want to explore this further, business management courses with the University of Cape Town’s (UCT) Faculty of Commerce might provide answers they are looking for.

Defining Holistic Business Management

A holistic business approach integrates all of an organisation’s departments to assist them in functioning as one cohesive unit.…

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Tips For Fashion Business Management In 2022

Are you thinking of starting a fashion business in 2022? Or are you an established fashion entrepreneur? Having a fashion brand is a noble idea, but one that may be challenging if not well managed. So, before you dive in fully, make sure you have handy business management tips for cushioning you against unavoidable challenges.

Fashion business management

According to Forbes, the fashion industry will experience considerable innovations, thanks to technology and dynamic customer trends, among other factors. Key innovations that will set a promising future include data analytics, sustainability, design simplicity, and digital sales.

With these promising growth prospects, it would pay off to consider valuable aspects that will help you manage your fashion brand.…

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Getting Into a Business Management Role

Many people are interested in getting into a good, lucrative position in the world of business, and this includes securing a position in business management. This type of career choice can offer a host of rewards including job satisfaction, seniority, continued opportunities for advancements, and a very good salary, among other things. However, you need to first take the right steps to boost your chances of getting into this type of job initially.

Good manager

If you do not currently have experience when it comes to business management, it is important that you plan ahead in order to increase your chances of success.…

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Organizing Your Business To Lower Your Bottom Line

Building a better bottom line for your P&L statement is the primary obligation of the CFO and CEO of any organization. Even in sole-proprietorships, getting your expenses lowered while expanding your income streams is foundational to your business success.

Effective business team

There are various ways to lower expenses while adding income, from downsizing your workforce and rental space to increasing your customer base. However, regardless of your strategy, unless your business is better organized, you may end up spending wasted time chasing more revenue inefficiently.

The Key Steps To the Process

Organizing your company structure is the first step. Once you have your company organized, what needs to happen next is determining how much physical space is vital to operate.…

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What Changes Make for a Better Business?

How often would you say you make changes to your business? When you find a routine that works, there is a tendency to just stick with it, whereas really, there is always going to be room to improve. However, with just a few small changes, you’ll find that your business can run much more efficiently for you.

Business management

Here are some of the changes that will eventually make for a better business.

Rethink Your Energy Suppliers

Once you have working electricity, running water, and quick internet, usually, that means you’re pretty happy to just settle with that provider; however, there is a lot of money that you can save on your utilities.…

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Tips To Get Better At Being Your Own Boss

The nature of modern employment is at a crossroads and many people are now choosing to become their own boss, or they find themselves in a situation where they need to become their own boss due to changing circumstances. It could be due to wanting more personal freedom, or it could be as a result of being furloughed during the quarantine period. Whatever your circumstances it is vital that you understand the realities of working for yourself.

Small business owner using productivity apps

Here we are going to take a look at how to get better at being your own boss and what the fundamentals are.

Set Clear Goals

To succeed in any form of business whether employed or self-employed it is vital that you set clear goals and understand exactly where you want to take your business.…

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Business Management Tips For Food Service

Managing a food service business effectively takes a creative balance of public relations, inventory management, human resources, communications, marketing, and more. Focusing on the food with all the other important elements floating around in your mind could become quite a task.

Restaurant manager promoting dishes

However, there is hope for your jumbled thoughts. Education is a powerful tool for production and efficiency. Take a moment to invest in your own professional development, and read through a few business management tips for food service.

Customer service is paramount

The old term, “The customer is always right,” still rings true in food service. No matter whether you’re a franchisor or a franchisee, excellent customer service will fuel the success of your business.…

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4 Key Factors on the Path to Maximizing the Value of Your Business

In business, maximizing value is the name of the game. When strategies clash, though, how are small business owners to know which path is right for them? Shareholders face novel problems today, including significant SKU proliferation, rapid technological evolution, cybersecurity threats, international trade wars, and the appearance of entirely new industries tangential to their own, among myriad challenges.

Business owners on the battlefield must navigate this shifting environment in order to maximize their value. A very basic framework to help think through these challenges is the “buy, hold, or sell” model. Specifically, at any given point for any decision, an owner or manager has only three options: buy (invest more), sell (divest), or hold (maintain the status quo).…

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