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On December 21, 2020, the U.S. House of Representatives passed a new coronavirus relief bill. Here’s what it means for the coronavirus relief programs: Paycheck Protection Program... Read more
One of the early-developed lean tools, developed in the 1930’s, is The 5 Whys. It is a problem-solving technique developed by the founder of Toyota Industries Corporation, Sakichi Toyoda. It's also useful for solving your business problems, regardless of your industry.
I have had an exciting, intense and wonderful career as a management consultant and have worked with organizations around the world. I have worked with groups trying to chart their future, groups that were stuck trying to get to the future, groups that were locked in conflict, and all kinds of situations in between.
Companies using a calendar year to do their financial statements need to take this time of the year to do budgeting for next year. Budgeting? Why would a company need that? Just do their thing – sell and hope for the best? That’s NOT a good way to run a company. Not good at all. All the big corporations budget everything – sales, expenses by category, cash flow, etc, etc. And, they do it on a quarterly basis. Why? One, they want a target that they believe they need to hit and so they then plan what they must do to hit that target. And, secondly, they use it for accountability – to measure the performance of each subsidiary or department that fed their budgets into the overall budget. Planning and accountability.
If you don’t have customers, you don’t have a business. First things first, who’s going to buy what you’re selling? And why buy your product, or service, instead of the competitions?
But besides monetary contributions, what are some other ways that small businesses can give back to their communities? To unlock some unique ideas, we asked business leaders and small business owners about the ways their company gives back to the community.