Tag: assess
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Bridging the Gap Between Budgeting and Risk Management
At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Here are some common types of risks to research, assess, and incorporate into adjustments to next year’s budget.…
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Grading the Performance of Your Company’s Retirement Plan
Imagine giving your company’s retirement plan a report card. Would it earn straight A’s in preparing your participants for their golden years? Or is it more of a C student who could really use some extra help after school? Benchmarking can tell you. Mind the basics More than likely, you already use certain criteria to…
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Following the ABCs of Customer Assessment
When a business is launched, its owners typically welcome every customer through the door with a sigh of relief. But after the company has established itself, those same owners might start looking at their buying constituency a little more critically. If your business has reached this point, regularly assessing your customer base is indeed an…
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Cost Control Takes a Total Team Effort
“That’s just the cost of doing business.” You’ve probably heard this expression many times. It’s true that, to invoke another cliché, you’ve got to spend money to make money. But that doesn’t mean you have to take rising operational costs sitting down. Cost control is a formal management technique through which you evaluate your company’s…