The performance review process is an integral part of a business that ensures that all staff (old and new) know their roles and responsibilities and perform them satisfactorily. It allows employers to directly give feedback to their employees in a formal setting that employees can then direct back into and shape how they perform their…
The performance review process is an integral part of a business that ensures that all staff (old and new) know their roles and responsibilities and perform them satisfactorily. It allows employers to directly give feedback to their employees in a formal setting that employees can then direct back into and shape how they perform their…
Feedback is an essential element within the business sphere. It can be used to improve your business as a whole or help identify where you may make further improvements. It can be internally or externally driven and may not always be positive. Essentially, feedback is a driving force behind a business’ growth and should be…
Market research is an effective tool that can be used to boost your business in terms of sales, customer engagement and how your competitors may be performing. It allows you to make well-informed decisions that can potentially add value to your business. When conducting market research, ensure that you are covering all of the potential…
If a business cuts costs, it’s usually to save on the money that is being spent. However, cutting costs too deeply may actually impact employee and customer satisfaction, and overall harm the success of the business that has been built thus far. In saying that, if cost-cutting measures aren’t employed enough, that can also be…
When branding your business, it’s important to consider all aspects of marketing. Businesses should utilise their marketing and branding strategies effectively to promote not only their business but also the values that the business holds true to. In a socially conscious world, consumers are moving towards businesses whose business values align with their own moral,…
When a business cannot deal with the workload in house, a candidate or party outside of the business is often hired to assist in performing those services. This is called outsourcing, and it’s a practice that companies sometimes use to cut costs – especially if it’s easier to do this than to train up another…
Business ethics are the system of moral and ethical beliefs that guides the values, behaviours and decisions of a business organisation and the individuals involved within that business. These ethics are important to business as many of them are tied directly into the law, and breaches of these can be punishable as an offence Though…
Buying an existing business can be a great entryway into being a business owner – but it does come with challenges. Following these steps might make it easier for you to make sure that the business you buy is right for you. Understanding if you are ready for business: This doesn’t just involve the financial…
The business management style you adopt will depend on the needs of your business, what motivates your employees, and your style of work. Therefore, you do have some flexibility when it comes to the choices you make and how you manage your business. However, there are some which you should always avoid due to the…