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Business benchmarking is the process wherein you determine which company is the best, the one that sets the standard and identify the standard. Basically, you compare your own processes and the metrics that you use with your competitors. However, benchmarking is not only about concentrating on your rivals. You will actually take a look at the wide industry itself and compare it with the other industries. That is certainly a difficult thing to do and being tasked to do so means that you have to take a look at a wide variety of dimensions including quality, time and price. When you benchmark, you will be able to do things better, quicker and much more cost effective. In this case, business benchmarking is a crucial process for organizations. Even though it is tricky and complex, you can simplify the whole procedure by means of benchmarking with balanced scorecard.

The balanced scorecard is known for being one of the most versatile business tools ever invented. You can measure the efficiency and the performance of the most important factors that affect and may affect the success of your business. Using key performance indicators, you can create performance based management and use that system to monitor the efficacy of various processes. The BSC takes on the customer, the internal processes, staff efficiency and growth and not only the financial capabilities of your company.

Now, how do you use benchmarking with balanced scorecard? The answer here is simple: you will need your company data and use them to compare against your toughest rivals in the industry. Thus, you will have to measure your products, services and practices that are similar with the top firms in the world. This will allow you to determine the reasons as to why those companies are seen as progressive and productive. Knowing such elements and details will also enable you to incorporate your present knowledge about how to run the company better.

Those enterprises that are considered at the top of their game know what they are doing. This is why you also have to know yours. In this case, you have to be fully aware about the standards so that you can compare yourself against them.

Benchmarking with balanced scorecard lets you compare and evaluate your business against the other firms so that you can improve the situation of your business. You can use the information that you have obtained to enhance not only on your profitability but also in attracting new customers, retaining them and in meeting their expectations. In addition, you can also help your staff acquire more knowledge and develop their skills in selling products or performing their jobs. In this case, you are able to manage your company better through the benchmarking with balanced scorecard.

One of the useful things about benchmarking with balanced scorecard is that this permits you to effectively reduce time and expenditures without sacrificing the quality of the project or the product. Lastly, this whole process can aid in making the right decisions. Exploiting the data obtained from the tool, you can determine the right choices and avoid errors in judgment.

Q: One of my former employees has started a competing business and is calling my clients and trying to steal their business from me. Do I have any legal recourse against him?
— Brad J.

A: I hate to break this to you, Brad, but unless this former employee signed a noncompete agreement while on your payroll, there is probably very little you can do to stop him from wooing your customers. You should discuss the situation with your attorney, but unless this person is also breaking the law in some other way (using stolen trade secrets, for example) your attorney will probably concur with me.

Renegade former employees riding the free enterprise wave is one reason noncompete agreements are gaining in popularity among employers who hope to use them to help protect their business from competitive threats launched by former employees. Many employers are now demanding that key employees sign noncompetes as a stipulation of employment. While signing noncompetes usually doesn’t sit well with employees who view them as potential roadblocks to their upwardly mobile career path, many businesses will not hire a key employee without his or her signature on the dotted line.

A noncompete agreement is a formal contract between you and your employees in which they promise not to use information or contacts pertinent to your business in a competing situation. In other words, they agree not to take everything they learn working for you and put it to use for someone else. This could mean going to work for a competitor or starting a competing business of their own.

While not popular with employees, noncompete agreements are a good way for employers to keep key employees on the payroll and protect the company’s proprietary information. That said, do not go overboard with noncompetes: not every employee should be required to sign one. If an employee does not have access to sensitive information, customer or accounting data, or is integral to the overall success of your business, there is no need to have them sign a noncompete. The janitor, for example, poses very little threat to your business if he gets a job with a competitor. Your sales manager, on the other hand, can devastate your business by hooking his wagon to a competing horse.

Which employees should sign noncompete agreements? While the prerequisites vary from business to business, the following is a good general list. The term “employees” represents executive level, management, supervisory, and non-management personnel relative to that example:

– Employees involved in research or product development. – Employees involved in the design, fabrication, engineering, and manufacturing process. – Employees who service products made and sold by your company. – Sales and service employees who have regular contact with customers or sensitive customer information. – Employees with access to sensitive business information or trade secrets. – Most importantly, employees who have sufficient information about your business that would allow them to start a competing business.

Most business experts agree that noncompete agreements are generally a good way to protect your business. The downside is that noncompete agreements are often difficult to enforce and in some states, may not be enforceable at all. Many state courts have ruled that noncompete agreements are too restrictive on an employee’s right to earn a living.

In California, for instance, noncompetes are generally only enforceable in connection with the sale of a business and not for employees. In Alabama, noncompetes are generally enforceable in only two contexts: the sale of a business and in connection with employment – but even then the enforcement requires that there be a valid interest worthy of protection.

Some states require that the noncompete be signed at the beginning of the employment relationship and will only consider the enforcement of a noncompete signed after the initial employment date if the signing of the noncompete was accompanied by a promotion, raise in pay, or other event that elevated the employee to a more important role within the company.

To be enforceable, noncompete agreements must be reasonable on three accounts: Time, geography and scope. Regarding time, you can’t restrict someone from competing with you forever, so one to three years is the accepted time period for most noncompetes.

As to geography, you can enforce restriction in the general area where you conduct business, but you can not enforce the restriction beyond those boundaries. And for scope, the agreement can restrict certain actions on the part of the employee, but can’t be so generally restrictive that the employee won’t be able to earn a living working in the same industry in a noncompetitive position.

One interesting thing to note: noncompete agreements are not enforceable against certain “professionals,” like doctors, CPAs, and lawyers (who do you think writes all those noncompetes).

At this point, Brad, the best thing you can do is contact your attorney to see if you have other grounds for suit, then contact your customers and let them know what’s going on.

Explain the situation regarding the former employee, but do so calmly and resist the urge to tell them what you really think of this guy. Showing your anger to the customer is not going to help you keep their business .

Reaffirm your relationship with the client, tell him how much you value his business, remind him of your track record and level of service, then ask one simple question: What can I do to make sure your business stays with me?

Here’s to your success!

Printing labels is not just about printing your business products and services with your business name on it. Printing these great print materials is also about making good and long lasting impression to clients and customers. Therefore, it is very crucial for you to enhance or improve your print materials especially if you want to make your customers have a good impression of you. There are several things that you can do to improve the look and appeal of your materials. Below are some of the tips and ideas that can aid you to make great print materials for your business needs.

Color is the very first thing that you should keep in mind for you enhance the look and appeal of your business labels. Colors are the best way to enhance the print materials that you have in your business. These colors will make the design of your materials very clear and visible. To make it real, you can use energetic and unique colors so that your clients and customers will notice your materials easily. Distinct colors can be the identity of your materials that will make your clients and customers attracted to them.

The texture of your print materials is another thing that you should always consider. The image effect is the perfect option that you can choose every time you will add texture to your print materials. You can also use sketched effects, poster filters and also painting to make your materials look creative and artful. Instead of enhancing your labels, the texture of can be a great way to add identity to your material.

The sharpness of the image that you will use on your labels also plays a very crucial role in adding enhancements to your print materials. For you to do this process, you can use image editing tools before you print them. However, it is always a must for you to make sure that you will make a perfect lighting and shadowing to the image on your print materials. If you do this process right, you will soon see that your materials will appear solid and they will stand out more in the crowd.

With this, you will be able to make your clients and customers impressed with your materials. Moreover, the lighting and shadow effect will be two of the most crucial things that you must pay attention to in order to enhance the appeal of your print materials. They will always aid you and especially the design of your materials to come out and look real. This is a very effective technique to make your labels look alive and enticing.

Those are just some of the things that you should always consider every time you will enhance the look and functionality of your label printing. Always follow these tips and ideas and you will soon notice the positive effects and benefits they will bring to your business.

Although not a popular marketing tool like brochures or business cards, labels are great for branding your business. It can help you build your identity and come out easily recognizable in the market. So, be sure to put enough attention in creating the labels you will put in your products and services. They can easily bring your business to new heights when done effectively.

So you’ve finished your due diligence process, had in-depth discussions with all of your advisers and professional consultants, completed all the essential steps that are required to properly value a business, arranged your financing and taken the leap. What should you now do with your new business to make sure that it successfully traverses the pivotal transition phase, and then doesn’t just survive, but thrives?

You will already know quite a lot about the business and its requirements before you take control of the keys. You should have spent many a long hour in preparation and have drawn up your own comprehensive plan already. This is one of the essential prerequisites when you plan to own a business. They say that when you move a house plant from one position to another, it goes into shock. The same analogy can be used when it comes to the business, and you will need to ensure you minimize the “shock”.

The first point that you’ve got to remember is that you’ll need to keep all your attention on your goals. Now, probably more than ever, it is essential that you’re not distracted and that you allocate as much time as is humanly possible to this new enterprise.

Wherever possible, have the previous owner add some much-needed stability by staying around for a predetermined period of time. He or she can act as an advisor and can be seen (but maybe not heard as much) by clients, customers, employees and vendors. Try not to make any sweeping changes, as clients and employees may react unfavorably. If you make small changes, make sure that you view the results before you progress to make others.

Take the time to meet all the key players – your employees and your vendors. Create a one-on-one, personal relationship with your staff right from the start. Maintaining employee morale at the outset is vitally important and make sure that you establish a positive mode of communication. Try to get in touch with every vendor, if you’re able to, and do whatever you can to establish a positive relationship with these important players.

The previous owner and employees represent a wealth of information and you should make sure that you gather this data before you consider implementing new procedures. You may be in charge, but you are still “the new kid on the block” around here, so make sure that your decisions are based on a solid footing.

Don’t be tempted to throw out any procedures, especially record-keeping and bookkeeping. You need to be able to compare where you are now and where you are going in the future, with previous results. You will not be able to make informed decisions otherwise.

Your customers, who sustain the business, are familiar with being dealt with in a particular way. By all means, review the customer relationship policies and procedures, but don’t be tempted to make any wholesale changes. Your goal is to keep those customers at all costs and to make sure that they are happy during the transition.

You may now own a business in an unfamiliar industry. It is important to get to know the ins and outs of the industry as quickly as possible. Familiarize yourself with the technology, software, programs, procedures and how to handle potential problems in the future.

Establishing goodwill is one of the main objectives at this point. When you purchase business assets, one of the key elements is this goodwill and whilst somewhat intangible, it is very valuable. Consider doing something for all your key players – clients, employees and vendors. Give some kind of an introductory special offer, of some significance, to your clients. Think of an enhancement that you can offer your employees, maybe some improved working conditions or an upgrade to their terms of service.

In summary, remember that you now own a business which is dynamic. You have to give a great deal of your attention to the critical early days and make sure that you grow the business and strive to reach your highest goals.

The sad truth is there are people who part take in unethical behavior within the workplace. Unethical behavior includes a variety of activities. Some unethical business behavior may include lying and changing the number of hours they have worked, making a long distance phone call on the business phones, and copying business software so they can use it at home. There can be more serious unethical behavior such as altering business records. There are also behaviors which are deemed as unethical and behavior that is illegal but ultimately is up to the business to decide if the behavior is illegal or not.

When a employee discovers someone that is being unethical, it can sometimes test what their own ethical values are. Sometimes behavior that is unethical and not illegal can fall under a grey area such as, what is right or wrong and can make it difficult to know what to do when they encounter it. However, people will also have different opinions on what is ethical and what isn’t. An example could be saying that it okay to say a white lie, and they make it okay because they can justify it their mind.

The employees own sense of what is right or wrong, comes into play when they witness someone else doing something that isn’t part of the companies standards. The employee will need to address how they are feeling about the activity and will they inform on the activity or do they turn a blind eye.

When the employee witness the employee doing something unethical a decision is made in what to do about it and so they are presented with a number of difficult options. Should they go and talk to the person or do they go and speak to the supervisor.

There are techniques that are put in place to make it easier to help with the decision and manage unethical behaviors. The company needs to create a policy for the company, that is signed by each employee so, they are aware on what to do. This will minimize the awakened feeling of what to do when seeing someone act unethically.

The second part is to show a outline of what will be expected of the person when they discover someone doing something unethical. It should also have the person that needs to be contacted and what the process is involved in doing so. Having a clear set instructions, will have a more proactive way on reporting on someone who is doing something unethical. So, by having this it can deal with this issue easily and quickly before it becomes a big issue.

The consequences should be clearly stated of what the unethical behavior is. That way, the person who witness the activity is aware of what to do which lessens the risk of someone not reporting something that is unethical.