Risk Management – Safety and Design Considered
The procedures and processes in your business must be efficient, and you should have methods of operation which take into consideration risk management. When you are designing these processes safety is something which may not necessarily be a major consideration for you, but it definitely should be. There are all sorts of OSHA standards, and I don’t recommend that you break any – however, sometimes OSHA standards in certain circumstances can create unsafe situations.
The reality is that you need to keep your business model and processes within the boundaries of OSHA law to prevent lawsuits, and regulatory fines. Nevertheless, let me explain to you one case study and example, something in my own company prior to retirement which always bothered me. We used pressure washers and steam cleaners to clean fleets of vehicles under contract. More »
Risk Management and Auto Dealer Car Lot Cleaning – Case Study
Every small business must worry about risk management, especially service companies. It hardly matters if you are running a landscaping company, a home inspection service, or even a mobile car wash business, there are always inherent hazards of the trade. It is imperative that you reduce these risks whenever you can. As long as we’re talking about the mobile car wash business, which is something I know intimately about, having been in that sector prior to retirement, let me give you a case study and example of how risk management changes the way you do business.
First, I’d like to explain that business insurance isn’t cheap in the service sector, and the insurance costs are based on your gross revenues and sales. As you make more money, and as you have more employees your revenue should go up, and so too will your insurance costs for general liability, because it is based on a percentage. More »
Fighting Global Recession – ERP Way
We are facing one of the worst global economic meltdowns. Everyone is scrambling for safe shelter for his money. The first reaction of the corporate to the economic recession is normally cost cutting across the board.
Enterprise Resource Planning(ERP) is a supportive package for the business and is still considered by many companies as a necessary evil rather than an investment. So, if the business is down, the need for the ERP seems to be down and the first reaction is to have a sharp cut on ERP expenses.
But, is the cost cutting, the only strategy for minimizing the impact of global recession, at a time when the corporate have already started considering ERP as a good investment and a booster for business growth?
Global economy has its own cycle. After each boom, it also goes through recession and after each recession it has to come back to the boom period. More »