Small manufacturers - when going outside makes sense

Article Abstract:

A sample of 32 chief executive officers in small manufacturing firms in South Carolina were surveyed in order to determine their need for outside consultants, and to discover their perceptions of outside resources. Results indicate that 31% of small business executive would be interested in outside assistance with market research, 25% with selection of a computer system, 80% with tax preparation, 47% with pension plan sharing, and 42% with identification of new markets. Additionally, the results show that small business executives view management consultants and Big Eight CPA firms as the most likely resources to provide a broad range of consulting services. CEOs also believe consultants and Big Eight CPA firms have the highest levels of expertise.

Research, Manufacturing industry, Manufacturing industries, Business consultants, Management consultants, Strategic planning (Business)

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Increasing employee ROI in the small business

Article Abstract:

Qualities that make entrepreneurs successful such as determination and the ability to focus energy and resources on a problem often prevent the organization from reaching full potential, because the entrepreneur fails to develop key employees. Ownership permits owners to express prerogatives without being challenged, so communication within the firm can become one-sided, and authority not properly delegated. Five steps entrepreneurs can take to improve their investment in key subordinates are: to assess their management style, evaluate the abilities of key subordinates, develop a three-year corporate plan, develop two-way communication within the organization, and be accountable for the results of the organization.

Methods, Return on investment, Business communication, Rate of return

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Managing Accounts Receivable in a Small Business

Article Abstract:

Credit can be costly to the creditor. Some factors to be considered before extending credit are examined thoroughly and illustrated with charts. There is a fine line to draw between being liberal enough to keep up with competitors' credit terms and going too far. There is advice on collection procedure and the handling of delinquent accounts. Credit is an everyday matter and should receive attention accordingly. It must be carefully managed if it is to result in profits.

Analysis, Credit management, Accounts receivable

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