Category: Production

Business Risk Definition

What Is Business Risk?

Business risk is the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail. Anything that threatens a company’s ability to achieve its financial goals is considered a business risk. There are many factors that can converge to create business risk. Sometimes it is a company’s top leadership or management that creates situations where a business may be exposed to a greater degree of risk.

However, sometimes the cause of risk is external to a company. Because of this, it is impossible for a company to completely

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Production plan: Top tips for improving your operations

Effective planning hinges on a sound understanding of key activities that entrepreneurs and business managers should apply to the planning process. Here are some examples:

Forecast market expectations

To plan effectively, you will need to estimate potential sales with some reliability. Most businesses don’t have firm numbers on future sales. However, you can forecast sales based on historical information, market trends and/or established orders.

Inventory control

Reliable inventory levels feeding the pipeline have to be established and a sound inventory system should be in place.

Availability of equipment and human resources

Also known as open time, this is the period

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Offshore oil and gas production is crimped by Gulf storms

Oil and gas production in the Gulf of Mexico was slowed Sunday by the approach of two storms that led companies to remove workers from more than 100 offshore platforms.

The Interior Department said that based on company reports at midday, 114 platforms had been evacuated. That is 18% of the staffed platforms in the Gulf, but they account for 58% of Gulf oil production and 45% of its natural gas output.

Energy companies are also moving drilling rigs used to explore for oil and gas.

Hurricane Marco is closer to the Gulf coast, but forecasters are more concerned about

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Elements of a Business Plan

Opinions expressed by Entrepreneur contributors are their own.


Now that you understand why you need a business plan and you’ve spent some time doing your homework gathering the information you need to create one, it’s time to roll up your sleeves and get everything down on paper. The following pages will describe in detail the seven essential sections of a business plan: what you should include, what you shouldn’t include, how to work the numbers and additional resources you can turn to for help. With that in mind, jump right in.

Executive Summary

Within the overall outline of the business

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U.S. Industrial Production Increased in July for a Third Month

    

Photographer: Andrey Rudakov/Bloomberg

U.S. industrial production increased for a third straight month in July, indicating manufacturing is gradually emerging from a deep demand slump tied to the coronavirus pandemic.

Total output at factories, mines and utilities rose 3% from the prior month after a revised 5.7% gain in June that was the biggest since 1959, Federal Reserve data showed Friday. The July increase matched the median projection in a Bloomberg survey of economists. Factory output climbed 3.4% last month, while manufacturing capacity utilization increased to 69.2%.

U.S. output rises for third month, though still down from pre-Covid level

Despite another solid advance in production, the Fed’s index of industrial

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