Brand audits can help companies in a variety of ways
A strong brand can help boost revenue, while a weaker one may reduce sales opportunities and stifle growth. Like many business owners, you’ve probably spent considerable time and energy crafting your company’s brand. Doing so has likely involved coming up with a memorable business name and logo, communicating with customers in a distinctive manner, and, […]
IT strategy showdown: Enterprise architecture vs. Agile
Few, if any, companies can operate successfully today without the right information technology (IT) strategy. And as businesses grow, their IT needs and infrastructures become even more complex and costly. This push and pull of managing growth while grappling with tech has brought two broad approaches to IT strategy to the forefront: enterprise architecture and Agile. […]
Which leadership skills are essential to strategic planning?
To help ensure continued stability and profitability, businesses need to engage in some form of strategic planning. A recent survey by insurance giant Travelers drives home this point. In its 2024 CFO Study: A Travelers Special Report, the insurer surveyed 610 chief financial officers (CFOs) from companies with 500 or more employees in various industries. One […]
6 key elements of a business budget
Every business needs a budget, but not every budget looks the same. Some companies have intricately detailed ones, others rely on simple templates generated with off-the shelf software, and still others forego formal budgets in favor of a “fly by the seat of your pants” approach. (That last option isn’t recommended.) Because budgeting is such […]
Businesses should stay grounded when using cloud computing
For a couple decades or so now, companies have been urged to “get on the cloud” to avail themselves of copious data storage and a wide array of software. But some businesses are learning the hard way that the seemingly sweet deals offered by cloud services providers can turn sour as hoped-for cost savings fail […]
Would an adoption assistance program suit your company?
There’s no one-size-fits-all benefits package for today’s businesses. The optimal combination of tax-friendly fringe benefits depends on various factors, including the size and demographics of your workforce. One option to consider, if you haven’t already, is an adoption assistance program. Purpose and covered expenses The purpose of adoption assistance programs is to provide participants with […]
Vroom vroom: What businesses should know about sales velocity
Owning and running a company tends to test one’s patience. You wait for strategies to play out. You wait for materials, supplies or equipment to arrive. You wait for key positions to be filled. But, when it comes to sales, how patient should you be? A widely used metric called “sales velocity” can help you decide. […]
Strategic planning for businesses needs to include innovation
When the leadership teams of many companies engage in strategic planning, they may be inclined to play it safe. And that’s understandable; sticking to strengths and slow, measured growth are often safe pathways to success. But substantial growth — and, in some industries, just staying competitive — calls for innovation. That’s why, as your business […]
3 areas of focus for companies looking to control costs
Controlling costs is fundamental for every business. But where and how to address this challenge can change over time based on various economic and logistical factors. Earlier this year, global consultancy Boston Consulting Group published a report entitled The CEO’s Guide to Costs and Growth. Within it were the results of a survey of 600 […]
Businesses have options for technology leadership positions
To say that technology continues to affect how businesses operate and interact with customers and prospects would be an understatement. According to the Business Software Market Size report issued by market researchers Mordor Intelligence, the global market size for commercial software is projected to reach $650 million this year and $1.10 trillion by 2029. And that’s just software. […]
