THREE REASONS TO START YOUR BUSINESS NOW So it’s Monday morning, the alarm goes off and after 3 snoozes you force yourself to wake up but not before reminding yourself for the trillionth time how your job sucks and how you will start your own business …except you have never given it a try. This …
KEY TYPES OF DIRECT PROCUREMENTS Resources or inputs that will be directly used in an organization’s primary activities as opposed to its support activities are referred to as direct procurements. Remember primary activities are the activities associated with the making or production of the goods or services the customers are paying for. The key types …
DIRECT AND INDIRECT PROCUREMENTS: WHY THE DIFFERENCE? Direct and indirect procurements the distinction A business that is serious about its undertakings will need to clearly learn about the difference between direct and indirect procurements activities. Direct procurements refers to the procurement of inputs and consumables used in the primary activities of the organization, that is, …
THE ROLE OF PROCUREMENT IN BUSINESS NEEDS Changes in business environment and by extension business requirements mean that the role of procurement in business needs has to be given a fresher look less the organization fail to meet its objectives. Gone are the times when procurement functions were viewed as administrative or clerical whose whole …
WHAT ARE BUSINESS NEEDS? Business needs and operational or functional objectives All businesses have needs and by business needs I mean the gap between the current state of the business and its goals, that is, whatever the business aims to achieve. If we look at business requirements from a functional or operational perspective then we …
INTEGRATIVE NEGOTIATION (Win-Win approach) What is integrative negotiation? At times the only option you have when it comes to getting what you want is negotiation. Since negotiation will often depend on how you value both the result and the relationship with the party you are negotiating with, you have a choice to make, that …
HOW TO ANSWER INTERVIEW QUESTIONS Job Interviews can be nerve wrecking to most people. The whole idea of what do I say? How do I dress? How fast will they see past my lines basically, how to answer interview questions is the challenge, thing is though, if properly prepared for, just like most things in …
TYPE OF PURCHASE AND YOUR BUSINESS Understanding how buyers or consumers behave is key to the success of your business. This is how you get to increase your sales and that translates to profits. You need to know their psychology, sociological make up, social anthropology, even the economics of its all. So business is all …
DISTRIBUTIVE NEGOTIATION Distributive Negotiation occurs in the form of somebody winning and somebody losing. It’s a zero sum game. The key objective in distributive negotiation is to maximize our party’s share of value from a particular deal – regardless of the impact on future relationship with the other party. It is thus a ‘transactional’ (rather …
HOW TO ACHIEVE YOUR GOALS Goals give us a purpose and purpose is what makes life worthwhile, assuming you are willing to give purpose the same definition as “will”. To quote Nietzsche “he who can live with any why can live with any how” because the alternative is drifting into hopelessness and extreme end nihilism …
