Article Abstract:
Companies can gain a competitive advantage in the marketplace by adequately addressing the concerns of customers, workers, shareholders, financial institutions and government agencies, collectively called stakeholders. Companies should incorporate environmental and social management practices to conventional economic decision-making processes. Moreoever, companies should also take care of stakeholders' concerns regarding economics and politics. In 1997, several firms worldwide will be espousing principles established by the Geneva, Switzerland-based International Standards Organization for environmental management systems and environmental audits.
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Article Abstract:
Both big and small businesses should know how to prepare business plans as banks require their presentation before granting loans. Business plans usually have the following parts: company description, marketing plan, production or operating plan, financing plan and personnel capabilities. Business owners should realize that banks nowadays are no longer enticed to extend loans by attractive collaterals. Instead, they are now after borrowers who have the proven ability to propel their businesses to financial success. A guide for the preparation of the plan is given.
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Article Abstract:
Invoice discounting is emerging as a viable means of obtaining critical short-term financing when banks refuse to provide such loans. A growing number of companies have discovered a lucrative niche in funding small businesses by purchasing their outstanding invoices at a discount. Invoice discounters are not factors and typically service small and medium-sized firms in high growth situations that banks and other financial institutions will not provide with short term financing.
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