Just as much as businesses need to deal with the problems and challenges in the present, they also need to be able to have a clear enough picture of what the future holds. Trends keep shifting, new demands keep cropping up and regulations keep getting modified. A competent business model always includes ways to predict or forecast the future proactively and function in accordance with those predictions in order to succeed. What is Business Forecasting? Business forecasting refers to the process of determining the future for the company in terms of economic volatility, market movement, consumer demand and growing competition. After doing its due diligence, a business must prepare short term-action plans, contingency plans and long-term operational strategies based on the previously determined forecasts. Forecasting is both an art and a science since it uses qualitative as well as quantitative data to predict the future. Accurate and timely forecasting is…

Companies these days are driven by more than just their primary objective of making profits. As a business serving local and global communities, they are also responsible for supporting their environment and giving back to the society. Socially responsible companies make efforts to devise and implement their Corporate Social Responsibility(CSR) by integrating it with their business plans in a bid to take meaningful action. Not only does it improve the community and uplift its people, it opens doors to a lot of resources, funding and goodwill. Corporate Social Responsibility(CSR) is essentially a way to do good for the local and global communities which are responsible for helping the business operate and thrive. Donations, ethical+social campaigns, volunteering and supporting small businesses are a few ways to do that. It also helps a company to improve its brand image, customer loyalty, media coverage and increased support from shareholders and the public. CSR…

Investing your money, time and energy are among the most important things in life. When you invest and grow your money, you buy yourself a lot of time and save a lot of energy to focus on fulfilment by pursuing your dreams and hobbies. Mastering the art of investment takes a lot of patience, discipline, rationality and learning through all the ups and downs. These ten timeless quotes on investment will inspire and awaken the investor within you by teaching you the importance of building a fortune and helping you develop the skills necessary to do so. 1) “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” – Warren Buffett 2) “To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game.” – Robert Kiyosaki 3) “When…

Have you ever found yourself wondering why the “all-important office meetings” are not yielding any effective results or clarity over goals? Are those countless daily huddles leading to better communication and increased productivity or are they just eating away precious minutes out of the workday? If you feel that the meetings are leading you and your team away from real work, then you need to revamp your approach to meetings. Here is a 5 step guide to having effective meetings: 1) Determining Whether a Meeting is Really Needed or Not Research by MIT Sloan has shown that only 50% of the time spent in meetings is actually effective, while the rest is just a waste of time and resources. That’s precisely why it’s important to predetermine the agenda behind potential discussions before calling a meeting. If something can be done via a simple email or memo, then calling a meeting is…