In business it is vital to have good business management security in place. As a business owner it would be suicidal to overlook the fact that fraud would take place in your company. Whether you are conducting a big or a small business it is imperative for organizations to take decisive measures and put structures to control fraud. Companies are established in order to make money therefore when they loose the same from fraudsters it becomes vital to find ways to counter the vice.The main fraud control measure that a business management security department can adopt would be to institute strong internal control operating systems. Apart from these systems acting as a detective measure, they should also be a preventive measure against fraud. The management must seek to ensure that the control systems are updated continuously.Organization should emphasize on 100% storage availability of supporting documents and complete documentation of each transaction. It is from these documents that auditors collect information and are able to detect any acts of fraud.Keen interest should be taken on unusual transactions at the end of each financial period for these usually have major implications on the company’s earnings. Employees may take advantage of this period to forge by entering false records or omit some transactions, for they know the books of accounts are usually closed and new ones opened at this particular time.As much as it is advisable for employees to be trusted with company’s resources, not all vital information should be left to the staff. Instead the company’s business management security ought to handle the most sensitive documents; this will help counter and monitor fraud cases.
Business Management and Marketing
As any good business owner should know, marketing encompasses a wide variety of actions that can be considered for any type of business. One marketing type is often overlooked by the business management process; network marketing. Network marketing should actually be included into the marketing plan of any business. The key to success when it comes to network marketing is to keep your goals simple but effective.We mention the fact of keeping your goals simple because many managers tend to complicate the issue while they look for the best marketing method and end up not putting any viable plan into action. There are two angles that you can use to look at network marketing. The first are the well-known multilevel marketing strategies that many companies already use. The second involves business and marketing while away from the office, which is within the social environment. Many people consider the social part of network marketing as wasting time since it is done in a non-business environment such as over dinner or while playing golf. Actually, these events need to be viewed as building relationships with others that could pay big dividends in the future.If you focus on networking from the social aspect, it can open up a wide range of opportunities within the local or extended communities. Examples of this type of social networking are to have ads placed in community based venues and events that benefit the view of your business. For instance, having ads for your business at local sporting events, or even sponsoring a local sports team can pay off with huge returns on the investment. Successful networking involves keeping your options open. Building new relationships within the business community is important, as well as thinking “outside of the box” when it comes to getting your company name and your product in front of as many people as possible.
Business Management and Business Plans
A business plan can help a company keep sight of their goals and propose exactly how they want to reach them. However, in the world of today, things are changing more rapidly than ever. In the following article, we will further discuss these plans and their importance in regards to company management.At any point in time, companies could make a business plan to help with management, and the timeframe for these plans would be set at period of a year or even longer. These days, the business climate and environment is changing at such a fast pace, plans must be set into action within shorter periods of time. Even though business plans must be made to coach a company through shorter periods of time, they are still essential in helping a company become more responsive to the changes in the environment around them. It will want to reflect changes in technology, which is also happening at an excelled rate. Companies in general need to stay on the cutting edge of technology rather than use obsolete technology. If you are serious about business management, you will need to start constructing a plan that will show the direction your company should be going in for the coming ninety days. Business plans can be set for longer time periods than this, but as a general rule, you will want to make your plans in ninety day intervals for the best results. These business plans will help to keep all the members and departments going in the same direction. Without a plan, management will be difficult on all levels because there will be disorder within your organization.There are some main objectives that should be addressed and handled in your business plans. For instance, you will want to give a desired rate of growth for the time period, desirable rate of company profitability, and desired position in your industry marketplace. You should also address any new products, new markets, or new staff members. These plans should also include any strategic alliances with others, increased market share, any improved gross profit, and any improved skills that your existing staff should be learning. Make sure that all your company objectives are included in this business plan as well as any changes that might need to be made. The planning is often the most difficult part of the process, but once you have a business plan in motion, nothing should stop the success of your company!