It is essential for all businesses to have a realistic, working business plan. It is not only used to monitor your performance and to align your workforce but can also be a useful document to secure external funding. What is a Business Plan? In detail, a business plan is a written document that describes a business,…
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Why Contingency Plans are a Must Running a business comes with a lot of stress and can get even more complicated when it grows. Not only do your costs increase, but your workforce and competitors can too. Business can be unpredictable and there are always occasions where the unexpected can and will happen. It could…
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Supply and Demand refer to the balance of what a business can deliver and what the target market wants. There are several variables which can affect this equilibrium – the main factors being Price and Quantity. The selling price of a service or product will be pre-determined by how much suppliers will charge you to…
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In business, developing an effective workforce is key. Workforces are the cogs and gears operating your business, making it tick. If a cog were to get rusty or weaken, then the rest will have to compensate – weakening them too. There must be procedures and measures in place for the workforce to adapt and continue…
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