Compensation for value

Apr 08 2006

Posted by Gordon as Business Concepts, General Management

If you’re an employee or a self-employed professional, it is likely your income based on the hours you work, or the input you give in to your work. So when you bill your clients, for instance, you bill according to the number of hours of service rendered. Or when you receive your paycheck, you are paid according to the required working hours (say, 40 hours in a week). But productivity experts may have a differing opinion on this. For some, particularly more entrepreneurial individuals, compensation should be given on the value added. So when an employee, for instance, is able ...

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.EU domains available to the public this week

Apr 04 2006

Posted by Gordon as Business Concepts, Business News, E-Commerce

Internet domains in the .EU namespace will be available to the public by this Friday the 7th. And by this time, users are in eager anticipation of registering their very own domains, reserved especially for European businesses and individuals. The first wave of registration was reserved for trademark holders, wherein companies were given a sunrise period of registering their trademarked names early. Of course, it can be expected that with this system owners of similar or sound-alike trademarked names would clamor for the best names. The presence of domain squatters—or entities registering domain names and then later on re-selling ...

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Improving Service Level Agreements

Apr 01 2006

Posted by Gordon as Business Concepts, General Management, Virtual Office

Service Level Agreements, or SLAs, are contracts entered into by a company with another for outsourced services. The service provider, usually IT-services firms, are usually tasked with preparing and finalizing the SLA. However, this leads to problems when the company procuring services is not literate with regard to the service being offered. So what are good ways to deal with SLAs such that both parties’ expectations are well met? For one, an SLA must be adequately reviewed for accuracy and precision in wording, by both parties. The wording should be adequately expounded such that it is understood in layman’s terms. ...

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On Service Level Agreements

Mar 31 2006

Posted by Gordon as Business Concepts, E-Commerce, General Management

Service Level Agreements, or SLAs, are popular with companies outsourcing IT work. For instance, if a company does not have its own IT department, but would need IT-related services such as installation and maintenance of equipment and/or software, it can sign an SLA with an IT services provider. One issue with getting into SLAs, however, is expectations. SLAs are known to be prepared by technical personnel, hence the wordings and stipulations are usually in tech-speak. So if the company getting into contract with the IT firm does not have organic personnel or managers who understand technology, they are most likely ...

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The Human Resource Factor

Mar 23 2006

Posted by J. Angelo as Business Concepts, General Management

In any company, there are various resources that a firm has to take into account. There are the capital resources. And there is information—undoubtedly one of today’s most important assets of a company, in this knowledge driven globalized economy. It is not uncommon for companies to forget the human resource factor, though. How often do we hear of employees protesting against unfair business practices, and how often do we hear of mass lay-offs in the name of profitability? It is hence important for a company to have a solid human resource team at the onset. It is said that one excellent ...

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Outsourcing and business solutions

Mar 22 2006

Posted by Gordon as Business Concepts, Company Formation Tips

Nowadays, business solutions are so specialized that it usually doesn’t pay for a company to do everything. If you intend to do all operations under one roof, then the costs may eventually outweigh the benefits. Therefore, many companies have sprung up that specialize in performing one or a few business activities and offer to undertake these for other businesses. Welcome to the world of outsourcing. While the age of the Internet has made today a do-it-yourself age, the ease of communications and information transfer has also made it an I’ll-do-it-for-you age. You may run across problems or business requirements that ...

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The first step

Mar 13 2006

Posted by J. Angelo as Business Concepts, Company Formation Tips, Tricks of the Trade

Among the first essential steps to starting a business is establishing the corporate entity. Sadly, this is sometimes the last thing aspiring entrepreneurs take care of. For instance, I have a business contact who’s had an interesting (and viable) business idea for years, but still has not incorporated a local company. My friend goes about talking to prospective investors and partners, but some feel that he is not too serious about getting into business because of the lack of a solid corporate entity. Hence, the first step one should consider in setting up a business is incorporating into ...

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Are you paying your employees enough?

Mar 12 2006

Posted by J. Angelo as Business Concepts, General Management

I’ve been in discussions with a former colleague planning to start a new company, and one of the things he’s constantly been mentioning is that he will make sure to pay his employees enough. His thinking is that employees won’t be as effective if they go about all day worrying about how to make ends meet. He would rather that his employees have their needs covered, so they can stay focused on the task at hand. However, it’s also best to pay employees what they’re worth. It’s also not good to overpay employees, as they might not perform at par ...

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Desktop sales declining

Mar 11 2006

Posted by Gordon as Business Concepts, E-Commerce, Virtual Office

Market research firm Gartner has warned that sales of desktop computers are on the decline. Mobile computers—including laptops and other mobile alternatives—are on the rise! Desktop sales are expected to grow 1.9% in 2006 over the previous year. Laptop sales are, meanwhile, expected to grow 31.4%. A steady decline in sales in desktop-based computing platforms is seen henceforth. What does this mean for businesses? This is most likely brought about by the popularity of mobility in the workplace. In today’s business environment, many deals and transactions are done out-of-office. And with mobile connectivity options such as WiFi and other cellular-based networks, ...

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Be good, or your employees might blow the whistle on you

Mar 10 2006

Posted by Gordon as Business Concepts, Company Formation Tips

The Business Software Alliance reports that as much as 64% of UK employees would rat out on their employers if internal reports of unethical business practices or illegal activities go unheeded. So you’d better think twice before opting for pirated or inappropriately-licensed software. If reported, you could face stiff fines and even imprisonment. And you’d better be a good taxpayer and generally a good citizen of the business community. Majority of the employees surveyed are likely to report tax evasion, fraud and corporate bullying! This means employees are concerned about business ethics more than ever. Most are concerned about the company’s reputation ...

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