When forming a team, the ideal is to balance the skills of one team member with the complementary abilities of others. In this way, each team member plays to his unique strengths, such as strategy, ...

Whether they are motivating employees, making decisions, allocating resources or negotiating deals, managers are vital for business. Managers have been an integral factor for business success since ...

Who doesn't love the smell of fresh bread? Is there a better diet-busting indulgence? Probably not. The bakery industry is a huge business that caters to people's weaknesses for tasty breads, cakes, ...

Small business owners are required to wear many hats. This means having to balance many tasks efficiently and effectively. If a business' systems are not properly organized, tasks pile up, paperwork ...

One important decision to make when starting a restaurant is the service style of the establishment. The service style determines the layout, menu, inventory, food prices and décor of the restaurant.

An organizational structure is the outline of a company's framework and guidelines for managing business operations. Small business owners are usually responsible for creating their companies' ...

Accounting and marketing functions work hand-in-hand because one of the four main components of marketing is managing pricing strategies. Therefore, an accounting department must work closely with the ...

Dissonance in marketing causes a conflict or tension within a consumer considering a product purchase. This is usually an uncomfortable feeling for the consumer and usually leads to the buyer taking ...

Organizing is all about keeping things in proper order. For any business, organization plays a significant role in helping you achieve your goals. Practicing effective organizational skills will help ...

Understanding the difference between sales revenue and profit is quintessential to understanding the principles of economics, business analytics and accounting. Both are examined when determining the ...

Communication channels are the means through which people in an organization communicate. Thought must be given to what channels are used to complete various tasks, because using an inappropriate ...

The strategic management process is more than just a set of rules to follow. It is a philosophical approach to business. Upper management must think strategically first, then apply that thought to a ...