Browse Tag: Business

5 “Rights” of Procurement

Rights of procurement

Procurement departments are misunderstood.

Effective procurement depends on planning, design, execution, and control over the million moving parts in the supply chain. Not to mention risk mitigation, in-depth market knowledge, and striking the perfect balance of power with suppliers. Continue Reading

How to Know if Your Business Will Be Around in 10 years

Business will be around, business built to last

Whether you’re just starting out or running an established operation, odds aren’t in your favor. Over 70% of small businesses fail before reaching their 10th birthday.

Businesses fail for all sorts of reasons. In the beginning, getting beyond the startup phase is no small feat. Businesses face cash-flow problems or fail because of poor budget planning. Companies succumb to stronger competitors and customers have no incentive to remain loyal.

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