An increase in sales sounds great! Right? But have you ever heard about the colloquialism of growing out of business? Growth requires cash flow, but sometimes, quick growth doesn’t allow you to keep up. If a company is run by leaders with sales backgrounds, they will be more focused on the growth than supporting that
Ron Rael, author of 13 ½ Strategic Ways of Winning the Budgeting Wars, once said that, “To achieve success in anything, you need two ingredients: a target to aim for and a way to measure your progress towards it.” Budgeting is all about achieving success in business. When you improve the budget process, you are
Fifteen years ago, I had a dog named Killer. Killer was really cute – a Yorkshire terrier – and was about 15 years old. Killer hated squirrels with a passion. One day, he saw a squirrel across the street and took off after him. Before we could catch him, he was hit by a car
Recently, I had lunch with our banker. During the meeting, I asked her what she wanted to accomplish when meeting with her customers. She said that she wanted to know the 3 questions your banker wants answered… 3 Questions Your Banker Wants Answered 1. How are you feeling about your business and the local economy?
See Also: Emotional Intelligence in the Workplace Co-employment in a PEO Arrangement What is Workplace Diversity? Diversity in the Workplace is a reality in most businesses and organizations. If organizations strive to improve their competitive advantage in the market, then they must learn how to successfully manage a diverse workforce. Diversity Management In a workplace,
Book: What the CEO Wants You to Know What the CEO Wants You to Know by Ram Charan is one of the financial leadership books that we encourage all of our coaching participants to read. In this book, you will learn… How your company really works Developing business acumen Tackling complexity Viewing business like an investor
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See Also: Direct Labor Variance Formulas Direct Material Variance Formulas Asset Market Value versus Asset Book Value Accounting Income vs Economic Income ProForma Financial Statements Variance Analysis Variance analysis measures the differences between expected results and actual results of a production process or other business activity. Measuring and examining variances can help management contain and
See Also: Valuation Methods Value Drivers: Building Reliable Systems to Sustain Growth Porters Five Forces of Competition Responsibility Center Cost Driver Value Chain Definition Value chain refers to the functional activities of a business that add value to its customers. The concept was created around 1985 by Michael Porter, Harvard Business School professor. According to
See Also: Total Quality Management Activity Based Management How to Manage Inventory How to Manage Your Banking Relationship Malcolm Baldrige National Quality Award Theory of Constraints Definition Theory of Constraints is a broadly applicable approach to managing business operations within an organization. Basically, the theory of constraints is a management philosophy designed to help organizations
See Also: Electronic Funds Transfer (EFT) Transfer Pricing Transaction Exposure Hedging Risk Accounting Controls Transfer Risk Definition Transfer risk is defined as the risk associated with currency conversion from the money of one nation to another. It is a large factor in international business and currency trading alike. Transfer risk may be associated with changes in
See Also: Tips on How to Manage Your Lawyer What Relationship Should the General Counsel Have With the Board How to Keep Your Corporate Veil Closed Corporate Veil Sunk Costs Bankruptcy Costs Ten In-house Secrets For Reducing Your Company’s Legal Costs ‘General Counsel,’ or “Chief Legal Officer,” is the job title of the lawyer who
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