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Categories :: Business : Management Articles
 


 

Category :: Management Articles Author :: Linda Carter 
 
 Article Title :: Motivating For Higher Performance
 
Employee motivation is probably the most important single manageable factor for success and profitability of all the facets of specialty store retailing. It is too vital to be handled on a hit or miss basis, depending on the whim or spirit that stirs the store owner or manager from time to time.To be effective, employee motivation must be promoted on a day-to-day, month-to-month basis. It is a function that can and will pay enormous dividends.There are almost as many effective ways of motivating employees as there are ways of enticing customers into your store. Of course, there are also innumerable ways to "turn off" your associates and it is equally important to recogniz  (read full article)
 
 
Category :: Management Articles Author :: Linda Carter 
 
 Article Title :: Internal Control - The Why and How
 
Many retailers do not have good internal controls in place and place little importance on them. They are concerned with the buying and selling of merchandise and do not place enough emphasis on making certain that the sales get recorded, the money gets in the bank, the invoices are paid only once and the inventory reports are correct.Why should you be interested in establishing and maintaining sound internal controls? Good internal controls help ensure the accuracy, completeness and validity of information. They help to prevent anyone from deliberately tampering with information and also help prevent employee dishonesty. Internal controls do this by building checks and balanc  (read full article)
 
 
Category :: Management Articles Author :: Linda Carter 
 
 Article Title :: Policy & Procedure Manuals - Tools For Greater Productivity and Efficiency
 
In today's tough retail environment the retailer needs all the tools he can get to help improve efficiency, productivity, and the bottom line. Two of these tools are the company's Policy Manual and Procedure Manual.In working with independent retailers throughout the country we have found that the majority do not have written policies and procedures. When questions or problems arise concerning the store's policies or procedures the store owner/manager handles them on an individual basis. The problem with this approach is that it takes too much of management's time and can lead to inconsistency in dealing with company policy and procedures.Employees respond well to an envi  (read full article)
 
 
Category :: Management Articles Author :: Linda Carter 
 
 Article Title :: Shrinkage Control
 
What has been your store's shrinkage experience for the last two years? What will it be this year? If it has not been as good as it should have been, now is the time to analyze the possible causes and take steps to keep shrinkage in line this year.WHAT IS SHRINKAGE?The difference between the perpetual book inventory and the physical inventory count is called shrinkage. The book inventory is a record of what ought to be on hand in view of what has been received, what has been sold and price changes. Physical inventory count is the volume and value of all the goods actually on hand.CAUSES OF SHRINKAGEShortages can and will occur at every point where merchandi  (read full article)
 
 
Category :: Management Articles Author :: Linda Carter 
 
 Article Title :: The Retailer's Calendar
 
The Julian calendar we use to pass the time every day, every week, every month and every year is the one most commonly used by businesses. Its general availability and familiarity make it a natural selection.However, the Julian calendar was certainly not devised with the peculiar needs of the apparel and sporting goods retailer in mind. The seasonal, holiday and special event nature of retailing makes the Julian calendar practically useless for accounting periods.An accounting calendar that ingeniously relates to the business cycles of retailing is invaluable. Our business cycles are those periods of time between the start and end of a sales season. In general, our busin  (read full article)
 
 
Category :: Management Articles Author :: Doug Smart 
 
 Article Title :: Are Your Meetings Smart?
 
Soon after I finished a brief seminar on how to accomplish more in less time every day, Roger shook my hand and said, “I can use what you said. But there is one thing you didn’t talk about. It is something that drives me crazy. I can’t get anything done because I’m in meetings all day long. We have gone overboard on meetings. We discuss practically everything as a team before making decisions.” I asked Roger for his card and I called him later that afternoon with some ideas that could help get him and his team out of their meetings trap.Don’t let meetings keep you from getting your work accomplished. It’s not uncommon for meetings to claim more than 50% of a busines  (read full article)
 
 
Category :: Management Articles Author :: Anindya Kar 
 
 Article Title :: What 80% of Businesses Don’t Know: Tips for Improving Your Working Capital Management
 
What is the number one way to prevent failure in business? Take a minute to really think about your answer. What comes to mind? Increasing patients or customers served? … Effective marketing? … Location, location, location? … Improving patient or customer care? … Being the best in your industry?Although these are all essential aspects of business, the answer isn't any of the above. The number one way to prevent business failure is to properly manage your working capital.To ensure that we're all on the same page, working capital is simply defined as the difference between your current assets and current liabilities. If this figure is positive, you have working capital  (read full article)
 
 
Category :: Management Articles Author :: Stephen Bucaro 
 
 Article Title :: What to do When You receive a Bad Check
 
As a small business operator, personal checks may be one method to receive payment for your goods or services. As a way to receive payment, a personal check is actually better than credit cards because the fees are less and there can be no charge back.Fortunately, most people are honest and studious in taking care of their checking account. But sooner or later every small business operator will receive a bad check. The first thing to do is politely contact the individual and give them an opportunity to make the check good.Most times you'll find that the customer has simply been careless with their checking account or finances. They will probably be embarrassed about the inci  (read full article)
 
 
Category :: Management Articles Author :: Janet K. Ilacqua 
 
 Article Title :: The Diamond Cutter
 
Geshe Michael Roach is a Princeton graduate and a Buddhist monk. After graduation, he spent seven years studying the wisdom of Tibetan Buddhism. At the suggestion of his teacher, he joined a fledgling diamond business in New York to test his ideals in real life. He stayed with the business as a member of the core management team for seventeen years.The company grew from a start-up with two owners and two employees to $100 million in sales and five hundred employees in offices around the world. The Diamond Cutter: The Buddha on Strategies for Managing Your Business and Your Life tells the story of how Geshe Michael Roach built the diamond division of this company, using principles c  (read full article)
 
 
Category :: Management Articles Author :: Keith Thompson 
 
 Article Title :: Christmas and Business Gifts for Your Clients and Employees!
 
Tis' the season for business and corporate gift-giving! If you believe in the law of reciprocity, and if your business is the least bit successful you must; you know that giving back is not only the right thing to do, but it's very smart business as well. Let's look at some of the benefits and mechanics of Christmas and holiday gift-giving.* WHY DO IT AT ALL?Gift giving is an excellent way to not only say thank you for all the business and continued loyalty your clients and customers have shown over the past year, it help to solidify relationships and in some cases, actually tilt the playing field in your favor. A well-conceived business gift will speak volumes on your integ  (read full article)
 
 
 
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