Examples of good business practices

1. Establishing and communicating guidelines for effective business practices and providing examples of ineffective business practices.
2. Assessing benefits and associated risks of a venture before proceeding.
3. Communicating clearly to all personnel the responsibilities and expectations for the unit's activities.
4. Developing academic and business plans that address university objectives and changing economic, industry and regulatory environments.
5. Ensuring that activity-level objectives flow from the entity-wide objectives and strategies.
6. Specifying the level of competence needed for particular jobs and translating the desired levels of competence into requisite knowledge and skills.
7. Ensuring that personnel have required knowledge, experience and training to perform their duties, and are cross-trained for critical functions.
8. Structuring the organization to facilitate the flow of information upstream, downstream and across all activities.
9. Assigning responsibility and delegating authority to deal appropriately with the organization's goals and objectives, operating functions and regulatory requirements.
10. Regularly evaluating the performance of all employees of the unit, using established performance management guidelines.