What is an overdraft for a business and when is it needed?
Overdraft is a revolving credit line that a bank can provide to a company or individual entrepreneur to cover a temporary and short-term cash gap. This is actually a business…

Continue reading →

What is a system in business?
The system in business provides order, correct and quick execution of work. It is no secret that business is, first and foremost, people. So, to build a system, you need…

Continue reading →

Moskvich won 9 million rubles thanks to a prophetic dream
The 39-year-old resident of Moscow, Ilya Matveev, saw two lucky numbers in a dream: 8 and 33. They helped him become the winner of the “5 out of 36” lotto.…

Continue reading →

Three main business trends of 2018: automation, innovation, quality

To develop your business, both here and abroad, you should offer customers a competitive product, which, in turn, cannot be produced without well-established processes for which process management is responsible.

In order to become successful in real conditions, a business must pay attention to three things that relate to business processes:
The quality of the product / service in order to be prepared to enter new markets (export);
Innovation of production processes and services provided;
Automation of business processes (maximum digital transformation of all its processes and products).
Processes for entering new markets (product export)

The competitive markets of developed countries are filled with products and services, so there is high competition and even higher quality requirements. That is why you should pay attention when entering foreign markets, on international certification.

International standards, such as ISO, are not taken from the air, hundreds of experts and market researchers are working on their versions. The fact that in the new version of the ISO 9001 standard in 2015 the process approach was left as a requirement indicates to us that this is really important for enterprises. In order for your product to be sold in new competitive markets (including for export), it must be of high quality. And to ensure the quality of mass production is impossible without a clear description of the processes and the presence of a control system. Certification provides you with evidence that you can consistently produce a quality product, but work to improve quality must be ongoing.

Processes for Innovation

Submit any reports to the IFTS and funds via the Internet in 5 minutes
Try for free

Today it’s not enough just to fine-tune your business processes. It is necessary to add innovation to all of them – this is now the key to success and competitiveness.

Innovation is everywhere. It can be implemented for any field. For some reason, we are used to thinking of innovation as a flight into space, that it must be something immensely grandiose … But no, it’s not like that at all. Remember the cafe where each visitor could leave free coffee to the next client and each subsequent client was pleasantly surprised by such a unique work of the institution? But this is such a novelty (innovation), which fundamentally changes the entire service process and causes emotions.

In fact, there are a lot of innovative ideas. But you should also understand that each idea is a well-tuned process that leads to the production of a product or the provision of a service. Recently, one training discussed the process of brewing coffee. So you ask: what else can you add innovative? You can, for example, put a TV at the counter, on which to broadcast how your drink is being prepared in real time. Agree that it would be very interesting and pleasant for you to observe this.

Therefore, do not be afraid to experiment and introduce innovative processes, but remember that for this you need to set up all production processes very well and meaningfully.

How to manage expenses that are not budgeted
Unforeseen expenses need to be foreseen. Behind this seemingly absurd phrase lies an unfortunate truth: expenses not provided for by the budget are inevitable for any company. Force majeure, unexpected…

...

5 rules to avoid director criminal liability risks
Rustam Jane, a lawyer in criminal law practice, and Dmitry Lyapin, a lawyer at the Leontyev & Partners Law Firm, share five common examples from their practice when directors of…

...

How not to fall under tax suspicion: dangerous schemes and mistakes of entrepreneurs
It is important to note that schemes differ from errors in the awareness of the commission, and therefore the consequences. Let's start with the mistakes that managers face due to…

...

What to consider in the agreement with the counterparty in order not to incur losses
Entrepreneurship is always associated with risks, which can occur both from factors independent of a person and from human factors. The latter include intentional non-performance of the contract, fraud, inclusion…

...