• Business Management

    Service Properties Trust Announces Changes to the Benchmark Index for its Business Management Agreement with The RMR Group LLC

    NEWTON, Mass.–(BUSINESS WIRE)–Service Properties Trust (Nasdaq: SVC), or SVC, announced today that it has amended its business management agreement with The RMR Group LLC, or RMR LLC, a majority-owned subsidiary of The RMR Group Inc. (Nasdaq RMR), to replace the benchmark index used in the calculation of incentive management fees. Pursuant to the amendment, for periods beginning on and after August 1, 2021, the MSCI U.S. REIT/Hotel & Resort REIT Index will replace the discontinued SNL U.S. REIT Hotel Index and be used to calculate benchmark returns per share for purposes of determining any incentive  

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  • Business Management

    Your Old School Management Practices Are Dooming You To Failure

    When it comes to running a business, what I have noticed is that while many founders are progressive with the technical aspects of their business ideas, their understanding of how small businesses operates is quite retarded and based on many industrial era concepts that have long outlived their usefulness decades ago. The science involved in business management practices has progressed since the industrial era but few business owners have noticed. What I see is that many entrepreneurs operate with a spotlight on the technical aspects of their business and forget about the evolution of business management practices. While there are  

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  • Business Management

    Why Business Continuity Management Matters Now More Than Ever

    There is no such thing as a truly fail proof business. Every business model is subject to some amount of damage from outside sources. Managing mandates and regulations as they come in takes more time than most businesses can handle on top of all the necessary footwork of daily profits and distribution of goods or services. Even in emergencies, lacking the forethought to deal with new, unique scenarios can halt or even end a business. We’ve had to learn it the hard way from the COVID-19 pandemic, but no business is completely safe from near-sightedness when it comes to managing  

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  • Business Management

    Managing conflict in the workplace

    Managing conflict in the workplace is always difficult, but with the right tactics, it can be made easier. Handling conflict in a mature and peaceful manner is a great attribute for employees and managers to have. If you’re unsure of your conflict management skills, then it’s time to start brushing up. In this Business Management Daily article, we cover: Managing conflict in the workplace Top tips for problem-solving conflict in the workplace Vital skills and tools needed for managing conflict in the workplace Tips for effective conflict resolution Any scenario is better with preparation, and  

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  • Business Management

    4 Breakout Tips For Business Plateaus

    Even the best businesses can occasionally experience a stunt in growth. While a formula for hiring, retention, and general operational efficiencies can help get a company off the ground, it’s rare for any business to be able to sustain a certain level of success without adjustments over time. Aware of this very reality, Tim Conn, president and co-founder of the national commercial cleaning franchise Image One penned an article for Forbes on four key strategies for getting out of a business plateau.  Reimagine The Business Model  The same processes that help a building service contractor (BSC) ascend to a certain  

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