What are some obstacles to creating a flexible workforce? What are the benefits? Flexibility is essential to create resilient supply chains, the most flexible resources are often human resources since employees are usually flexible and can be shifted from one task to another. This flexibility becomes even more important with uncertainty from changes in consumer behaviour. These changes together with shortages in manufacturing resources lead to system wide disruptions that e

The entrepreneurial characteristic that stand out to me is passion, competency, and the ability to see opportunities where majority overlook. So I will be elaborating on interplay between an entrepreneur’s passion, their ability to recognize opportunities, and the principles of small business management. I find it interesting to see how passion can fuel opportunity recognition and support ones managerial practices that can help a founder grow their business. Finally, I also f

Having the knowledge in how to forecast sales is an important element of any startups journey to success. Sales forecasting can be used as a guide, to be able to predict future revenue based on historical data, market research, and competitive pricing analysis. The information gathered while creating a sales forecast can also help create the marketing strategy. Creative marketing efforts such as writing books, applying for business awards, or issuing press releases can also p

One of the operations techniques that stand out to me is record keeping for inventory control, and as for one of the risk management techniques that stood out to me, it would be the risk of employee theft. Proper inventory control through strong record keeping and ongoing risk management of employee theft are not only foundational needs for small businesses, they also highlight biblical values integrity, and Christians in business are called to treat resources with care, and

Fundraising is a common first step in bringing an entrepreneurial vision into reality. Fundamentally, fundraising includes getting funding to cover startup costs, product development, operations, and initial market entry. Some entrepreneur usually start with friends and family, and reach out to personal networks for seed capital that comes flexible terms. As the startup scales and grows, and has a stream of revenue, entrepreneurs would then usually attempt their chances at ge

For many entrepreneur raising capital for their startup can be one of the most exiting memorable thing they can partake in their entrepreneurial journey. Raising the appropriate amount of funds at the right time can make a major difference on whether or not the firm will become successful or become stagnate. To further elaborate on the exiting journey of raising capital for business startups, I will be discussing growth milestones, exit strategy, and return analysis. These th

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