Continuous Improvement of Business Audits

The article under the title “Continuous Improvement of Business Audits” will be about how to make businesses more auditable and less likely to be hacked by hackers. This is a very important topic in today’s world with all the cyber-attacks and data breaches going on in many different businesses. There are many things that a company can do in order to protect themselves from outside threats like this.

One way a company can improve their business audits is just by performing regular head count checks, making sure there are no unauthorized personnel inside the premises. Another thing they could do is conduct an inventory periodically, checking if anything has been stolen since the last one was done. Or, if the business does keep any valuable data, they should also take regular backups of them as a failsafe. Other ways to make business audits more effective are to train employees on security awareness, and make sure they know what to do in case of an emergency. Then finally, they could use either biometric or RFID card access systems on their facilities.

One major threat against businesses is cyber-attacks by hackers. The types of threats that are shown often are phishing attacks via emails and malicious websites that end up with malware being downloaded onto the user’s computer or even stolen credentials for online banking transactions. These attacks are hard to trace and prevent simply because the only way to prevent them is for end-users to be very cautious with their computers and web-browsing. There is no way to tell if the email from a co-worker you receive is legitimate or not. Or if that link you click on for a promotion at your favorite clothing store isn’t going to install a virus on your computer.

Another possible attack against businesses is data theft through service providers because it can get a lot easier to do that than hacking into company infrastructure or the networks of other companies they do business with. Imagine someone getting into power plant controls, where they could just shut down everything in a matter of seconds or minutes. One way to prevent this kind of scenario is by having a sufficient security policy in place and train employees on it. Also, performing regular up-to-date backups on anything important the company has may help save the day if there was an attack like this.

It is overall important that businesses are aware of how fragile their data is and how easy it can be stolen or corrupted by outsiders with malicious intentions. Therefore, companies should always have good business audits performed to make sure everything is running properly and that their data is safe. This should be done regularly so that the company and its employees will always know where they stand when it comes to security.

In conclusion, we can conclude that business audits are very significant to keep companies running smoothly and efficient. But, like any other system, they can be broken down. Repaired and made better. Business audits are just another means of improving a company’s efficiency; continuously working to improve their processes and systems while keeping the organization constantly moving towards its goals.

Firm: Farmington Hills-based Eureka North America Inc.

Title: Nonprofits as Charitable Organizations

A non-profit is a business that does charitable work. They are a very prevalent form of business with over 50% of American adults donating to them (Shea and Klerland, 2013). These businesses offer opportunities for social change without the taxation requirements or debt obligations of for-profit companies. A nonprofit’s main purpose is to help people in need by either donating money, services or products. There are multiple different types of nonprofits, but here are the three most common ways they help people:

For-profits have been shown to be more effective at providing goods and services to those in need than nonprofits (Kirschner & Shadish 2013). This can be possible because of their higher revenue production and profitability. The amount of donations to nonprofits has been shown to decrease over time for a number of reasons (Kirschner & Shadish 2013). One reason is that people lose interest in donating. Another is that organizations become too reliant on donations and stop taking steps to increase revenues to improve their profitability. Another reason is that money is being wasted on ineffective service providers, which reduces the profits of the organizations (Kirschner & Shadish 2013). One way in which charities could become more profitable is by implementing corporate social responsibility (CSR) policies and practices, such as waste reduction programs or employee volunteering programs. These allow company profits while also benefiting the society they are a part of.

Nonprofits are a form of charitable organization because they provide services to those in need, however have no profit earning capacity.

Firm: Farmington Hills-based Eureka North America Inc.

Title: Fast Food Franchise Business Plan

McDonald’s is the largest fast food restaurant chain in the world with over 35,000 locations in 120 countries (Cox 2014). In 2013, it had a revenue of 24.7 billion U.S. dollars and over 37 million customers (Cox 2014). In 2010, it made 4 billion U.S. dollars from selling franchises to new owners that want to open their own fast food restaurants (Nachman 2010). In a study done by the Ohio State University, researchers found that in 1996, the average gross sales of a McDonald’s restaurant was $1.1 million. The average income after operating expenses and taxes was $90,000 (Herbig & Cox 2001).

A high-performing McDonald’s franchise can make good money; however, like any other business venture it takes time and an understanding of what your customers want in order to be successful. Before pursuing this career it is important to have a solid business plan with research and ideas to back them up because starting out as an owner-operator is expensive if you don’t already have the capital to get started.

Before applying for a fast food franchise, the first thing a prospective owner should do is visit a restaurant of their choice and take note of what they see. Is there a long line? Are customers being served promptly? Are they getting what they were ordering? This will tell you if the business you are visiting is doing good or not (Kuriyan 2013). The next thing to do is look at the location. Is it situated well in its neighbourhood? Does it have good visibility from the road? It should also be easy to find and have plenty of parking in front to ensure that customers will easily find it (Kuriyan 2013). After visiting the location it is time to identify what the business should look like when it’s in full operation. The owner should decide how many staff and how much space will be needed for each department. Next, identify exactly what equipment each department needs including coolers for food, equipment for cooking and equipment for serving (King 2013). After identifying what the business needs many new owners often overlook one of the biggest parts of any successful business – its marketing plan (Kuriyan 2013). What makes a good marketing plan? A good marketing plan includes a clearly defined target market, clear sales message and appropriate sales channels (King 2013).

Lastly, an owner should also figure out what suppliers he/she will buy from when opening.

Conclusion:

After all of the initial research and planning has been done, it’s time to find a suitable location for a new restaurant (Kuriyan 2013). Many McDonald’s have been operating for decades in their current locations; however, many traditional restaurants do not stay in the same location for very long. This is due to changing tastes and trends over time as well as competition (King 2013). One strategy that can be used when looking for a new location is using a broker or commercial real estate agent. A broker or agent will find the best locations available and negotiate with the landlord on your behalf.