As we all know, the business environment is constantly changing, but it can be hard to find time to consider what the impact might be. A SWOT is a well tested method that does not take too much time, but still produces the information needed to make good business decisions.
Business innovation is a vital ingredient in raising the productivity, competitiveness and growth potential of modern economies. Essentially, Innovation is the successful exploitation of new ideas. These can be ideas for products, services or processes. It includes both radical new ideas and incremental changes to existing ones. All businesses can, and should, innovate.
If you’re a very small business, you probably don’t think you need to manage your cashflow. At least that’s what many of the small businesses I meet say! I start talking to them about the importance of forecasting what you’re going to get paid and what you’re going to spend, and I see their eyes glaze over as they shuffle sideways to get away from this BORING person!
