All of the planning in the world is an exercise in futility without the working capital to successfully carry out the plan. If a business sells to customers on terms, then working capital availability is dependent on cash flow timing. In most instances a business will incur a cash flow gap between the time cash is required for inventory, payroll and operating expenses, and the time cash is received from customers paying on terms. Let's explore a simple example of this timing difference that makes up the cash flow gap:

Day 1: Your business orders materials from suppliers on N/30 terms;
Day 3: Your business receives materials and begins production (which takes 5 days);
Day 8: Your business ships product to customers on N/30 terms;
Day 14: Mid month Payroll is due;
Day 30: Month-end Payroll and supplier invoice are due;
Day 48: Your customer remits payment to you.

In this scenario the cash gap is 34 days, which is from day 14 when pa... [more]

Simply put, a team is "a group of people working towards a common goal.- Therefore, Business Team Building is a process that enables a group of people in a business environment to reach their goals using the team resources. It refers to the selection and motivation of your staff towards your organization's development and establishing a team feeling among them. There are several factors that contribute to business team building:

• Clarifying the team goals
• Identifying issues which hamper the team from reaching its goals
• Addressing issues, removing the obstructions, and enabling the goals to be achieved

The primary skills required for business team building are identifying and recognizing the right issues, and dealing with them in an appropriate manner.

Our personal and business lives are increasingly involved with people of various cultures and diverse backgrounds and we are expected to get along with them instantly. Therefore, ... [more]

Who cleans your offices? Who is wandering around your private spaces with possible sight of your confidential documents? Most companies employ cleaning staff directly. Supervision of these cleaners can be a time-consuming management task. This is the main reason that an increasing number of companies are choosing to employ specialist, cleaning contractors to maintain their office environment.

You will find many companies that specialize in cleaning offices. These companies may employ personnel who have security clearances and have been trained in using heavy duty carpet vacuuming and cleaning systems. Commercial cleaning systems can achieve far higher dust removal and hygiene standards than those generally available in retail outlets.

Industrial cleaning contractors who specialize in cleaning equipment and plant are fewer in number. There are a few national companies and you will also find local businesses that specialize in this area.

If a compan... [more]