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Small Business Articles

Should a Small Business Practice Total Quality Management?

Total Quality Management is the dedicated effort to providing a continuously-increasing level of quality in an effort to retain the attention (and repeat business) of your customers. Widely practiced throughout the world, large corporations are continuously examining their products and services through the practice of TQM to optimize their competitiveness, paying particular attention to their core customer base. So why can’t…
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Five Ways to Become a Multinational Company

Congratulations, your small business has grown out of its tiny office block and now has enough cash to go multinational! It’s time to expand into other countries and make your brand known worldwide. What are the basic options for a fledgling multinational corporation to spread its wings? If your company meets any of the following five criteria, then your company…
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Total Quality Management’s Impact on Different Business Processes

Total Quality Management (TQM) is a competitive approach to long-term success that’s derived from a dedication to customer satisfaction. Within this system, every employee in a company endeavors to enhance the products, services and internal culture to produce a streamlined set of business processes that deliver an improved customer experience. Also commonly known as Quality Management in the United States,…
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Which Organizational Structure is Right for Your Business?

When setting up a new business, you should pay careful attention to designing your company’s organizational structure. This should be decided according to your company’s size, industry and aims. You should think of organizational structures as communication flowcharts. Poorly conceived organizational structures will result in sluggish, inefficient communication in which managers at various levels are required to deliver information to…
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Business Lessons I Learned from Steve Jobs

One of the best techniques for success in business and in life is intelligent selection of role models. They can serve as sources of wisdom and inspiration, as bright lights illuminating the path to the person you want to become. In Steve Jobs I found much that was worthy of emulation, so I decided to put together a list of…
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Keeping an Eye on Your Competitors

It is said that “imitation is the sincerest form of flattery”, but in the world of business, imitation is inevitable, and hardly flattering. For example, Apple’s iPhone and iPad products have been imitated by a number of competitors, such as HTC and Samsung, which have incurred the legal wrath of Steve Jobs and company. Meanwhile, in the video game industry,…
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Projected Growth Industries for the 21st Century

As investors, business owners or entrepreneurs, it’s important to understand the shifting sands of the top industries for growth in today’s economy. Some discrepancies are obvious. For example, print media would be classified as a dying industry, while smartphones and tablets are regarded as a surging one. Others are less apparent but far more important – such as the decline…
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Preparation Needed for Selling a Business

So you’ve decided it’s time to sell your business. You may want to retire, or you simply want to unload the company before the market turns against you. How do you go about finding someone to actually buy your business? Determine Your Business’ Valuation Before you can sell anything, you have to determine its market price. If your business is…
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