Teamwork. It’s a common enough term these days, and well-known companies such as General Electric, 3M, Texas Instruments and Federal Express have been using it to their advantage for decades. Now an increasing number of businesses have taken up team building for growth, efficiency and competition. However, building effective teams isn’t a snap, particularly here in...

Not all crooks roam the streets at night. Some might be roaming your company hallways, stealing cash, forging or altering checks, and pilfering your inventory and property. Even worse, they may be stealing intellectual property such as confidential documents or trade secrets. What can you do to pull the plug on employee theft? Here Are 18...

If you want your business to grow and remain competitive, a solid financial plan and a well-conceived strategy can mean the difference between boom and bust. The obvious place to start is with a cash-flow analysis. Review your company’s cash flow statements to understand the cycle of inflows and outflows that stem from accounts receivables, inventory,...

The Family and Medical Leave Act (FMLA) provides employees with the security of job protection for up to 12 weeks for a qualified leave. But when does the clock on the 12-week period begin to run? And what requirements must the employee fulfill to officially notify the employer? These are the issues presented in two cases that illustrate...

Along with warm temperatures, summer can bring natural disasters. It’s currently hurricane season along the Atlantic and Gulf coasts, severe storm season in the Midwest, flood season along the Mississippi River, and wildfire season in the Southwest and West. When disaster strikes, affected individuals and businesses may incur substantial financial losses. However, some losses can...

Efficient sales mean bigger margins, which improve the bottom line. Here are five steps to beef up your sales program: Consolidate sales routes.Reorganizing your sales circuit can let your staff visit more than one customer on each trip. Focus on trophy customers.If your top customers haven’t bought anything for, say, 90 days, find out why. Offer...