To some the answer may be self-evident. But others in the business arena often choose to look the other way and let nature take its course, hoping the problem, if they realize there is a problem, will go away. Some refer to this simply as Succession Planning, which technically means transfers within a family unit; possibly a second generation.

But the term Exit Planning is far more encompassing.

As a retired manager in a multi-country company, I have found that buying the right corporate gift for employee reward programs, customers or for corporate celebrations in general, can become a challenging task. Giving it is worse since you have the intention to gain business ties, connect with clients, and send your message of giving thanks. Although there are no definitive rules, knowing the following corporate gift buying basics will increase your chances of attaining your goals.

It's vitally important is that you take the time to get really clear on what not only your expectations of the future of your business are, but that you know what you want - even what you dream about.

A business vision is more than a template to fit into, it's a much bigger thing. It's about hope and desire. About passion and dreams of what you want it to be like, without restriction.

When it comes right down to it, most people who have a home business are working for themselves for many reasons. They probably love what they do, they have a passion for it and the idea of working from home is also something that they can do because it allows them to be at home, to take the time off that they need and to be in complete control over their lives.

Whenever a business starts there is always the question of how the people that provide services for the business will be paid. Will those services be performed by employees or will independent contractors be used?

Before the business can determine how to treat payments they need to know and make clear the business relationship. It is important to establish this relationship because an employee has taxes withheld, social security and medicare matched by the employer, unemployment insurance paid, workers compensation insurance paid and often benefits provided.

Why is it companies will spend more time and effort on defining the decision criteria and the evaluation process associated with spending +$1 million of bottom line profit on a capital acquisition than they will in the acquisition of an executive responsible for driving +$1 million in bottom line profit (let alone the corresponding top line revenue)?

Sound paradoxical? So why does this happen?

Is it because companies believe executives aren't worth the effort? Hardly; you'd be hard pressed to find a CEO that doesn't think people are the key to their company's success.

Every business has problems. That is why the average life span of a large industrial company is 40 years. Some are learning disabilities where companies are not prepared to learn from their mistakes. They insist on doing the same thing every time. Even when problems occur no one examines the cause of the problem. The problem is an embarrassment that should be swept under the rug and forgotten rather than be used as an opportunity to learn.

Can you imagine going on a road trip without knowing your destination? Or, building your house without plans? The same can be said about running your business without a plan.

They say that -If you dont know where you are going, any road will do.- But if you dont know where you are going how do you know when you get there? Or if the road you are on is the right road or the scenic, roundabout route?

Planning is essential if you have somewhere to go.

Local is not always better when it comes to using personality tests to hire or upskill workers in Asia, particularly China.

Personality tests are used mostly by those responsible for employee hiring decisions to predict the work performance and character of potential staff.

The use of these tests has steadily grown over the years with research evidence suggesting that they are more reliable than many other common forms of employee assessment.

The Blind Men and the Elephant

It was six men of Indostan
To learning much inclined,
Who went to see the Elephant
(Though all of them were blind),
That each by observation
Might satisfy his mind.

The First approached the Elephant,
And happening to fall
Against his broad and sturdy side,
At once began to bawl:
-God bless me! But the Elephant
Is very like a wall!-

The Second feeling the tusk,
Cried, -Ho, what have we here,
So very round and smooth and sharp?
To me -tis mighty clear
This wonder of an Elephant
Is very like a spear!-

The Third approached the animal,
And happening to take
The squirming trunk within his hands,
Thus boldly up and spake:
-I see,- quoth he, -the Elephant
Is very like a snake!-

The Fourth reached out an eager hand,
And felt about the knee.