How enterprise risk management can impact a company's value
Business operations are subject to a number of internal and external risks, as are ownership interests in businesses. How organizations and their owners address these risks can have a significant impact on the value of businesses and interests therein. An enterprise risk management (ERM) process involves identifying risks relative to an organization’s objectives, assessing them for likelihood and impact, developing a response strategy and monitoring progress. […]
Making a difference: How Boris Weinstein turned picking up litter into a citywide movement
Boris Weinstein, 82, is passionate about litter prevention. It’s been like a second career for him since his retirement, and he easily spends 2,000 hours a year on his anti-litter work. And like many leaders, business or otherwise, he’s been able to use his passion to inspire and motivate others. Weinstein first dabbled in litter […]
Stephan Liozu: Getting things done — Five tips to fostering urgency and discipline in your company’s execution
The difference between good companies and great companies is an ability to get things done and to execute religiously on promises. Having outstanding business models, being innovative and selling the best technologies isn’t enough. I see this time and time again when buying from businesses or consulting for them. Being creative and getting things done […]
Joe Takash: Why you need to seek common ground with bossy individuals
Most people spend their working lives following orders, whether they’re from a boss or a customer. They may not be military commands — your customer may ask you in the nicest way possible to reduce delivery time — but they still must be obeyed. This is just the way things are, whether you’re a junior […]
Playing on Columbus’ strengths: A focus on workforce is paying off in logistics, but more remains to be done
We ♥ (heart) logistics. The award-winning UPS ad campaign certainly strikes home for Columbus. The city is naturally attractive as a distribution and logistics hub for its geographic access to 46 percent of the U.S. population within a 10-hour drive, as well as strong supply chain talent and value. In fact, the logistics industry employs […]
How the Wage Payment Act can hold employers liable for executive pay
Businesses are familiar with the notion that written employment contracts can be a source of rights and liabilities in the event of a split with an executive employee. However, businesses are often not as familiar with other potential sources of employment liability in those situations, including the Wage Payment and Collections Act, sometimes called the Wage Payment Act. Smart Business spoke with John Haarlow Jr., […]
Edmunds.com gives unlimited vacation, but employees treat it with discipline and get their work done
If you work for Avi Steinlauf at Edmunds.com, you can take as much vacation as you want. It may seem like a slacker’s dream come true, but Steinlauf says employees have embraced the move with just the right mix of appreciation and discipline. “It’s something we piloted in 2011 with a few work teams and […]
Kathy Ireland: Strong relationships have the power to propel both you and your business to incredible heights
Technology provides today’s business owner more ways to connect with customers than ever before. But with all those channels available, it’s more critical than ever that you know what you stand for as you seek to build connections with the people you want to buy your product. You are your own brand. What kind of […]
How to stand out by engaging with consumers through crowdsourcing
Business owners have formally sounded off on consumer review sites like Yelp — and it appears the vast majority are listening, but don’t take reviews as seriously as consumers do. That’s just one finding of a recent Woodbury University study that explores the power of the consumer, and consumers en masse, to affect business behavior. Sponsored by ReviewInc and led by Kristen Schiele, Ph.D., […]
How to transition your family business to the next generation
Business succession is the one thing many companies fail to address for fear of relinquishing control, a lack of time, the feeling that successors aren’t ready or other reasons. But, it’s never too early to start succession planning. “Statistically, roughly only 30 percent of family-owned businesses are effectively transferred to the second generation and just 10 percent make […]