Business Management

What Is the Strategic Planning Process?

Eric Vo

An effective strategic planning process involves having discussions with employees and outside vendors, as well as analyzing your small business and the industry. The outcome is a formal document—the strategic plan—that details your business's current status, its strengths... Continue


Learn From Your Accounts Receivable Formula

Elizabeth Macauley

When analyzing your small business's performance, the accounts receivable turnover ratio is an important metric to know. This ratio evaluates how effectively you are collecting your receivables when customers buy on credit. Specifically, the accounts receivable turnover ratio... Continue

Managing Employees

How to Prevent Employees From Stealing Your Secret Sauce

Felicia Sullivan

In 1996, Jay Bush, brand spokesman and great-grandson of founder A.J. Bush, was about to get his moment in the spotlight. Advertising executives urged Jay Bush to be the pitchman for his family's brand of baked beans. Camera-shy, Bush leaned on his golden retriever, Duke, for... Continue

Managing Risk