The loss leader strategy is a business concept that has been in use for years, and has been proven quite successful. Business owners can use this strategy to win customers back from a competitor, or to penetrate a new market. The idea is to price an item below market cost, at a loss, in order to draw customers in to ... Read More »
There are many options out there for IT management training courses. As a project manager looking to improve your craft and add depth to your resume, you may be interested to know what is out there beyond the basic project management apps. This post will provide you with some options for IT management training courses so you can not only ... Read More »
Most people recognize the importance of being assertive, especially in professional settings like the marketing department or manufacturing plant. Simply put, assertiveness means being able to stand up for yourself and being able to express your thoughts, feelings and beliefs confidently without overstepping on the rights or self-esteem of other people. It also involves knowing how to react properly towards ... Read More »
Profit margin ratios are basically a measure of efficiency for your business. It takes your revenue and calculates actual profit after subtracting your expenses. This is vital information for business owners as it is a good indicator of the financial health of your business. If you find that your profit margin ratio is not in favorable standing and your business ... Read More »
Competitive advantage is defined as “a condition or circumstance that puts a company in a favorable or superior business position.” Small business owners like yourself know just how difficult this is to achieve with so many skilled competitors in the market. However, it is possible to learn from companies with competitive advantage. This post will show you some lessons that ... Read More »
Opening an office for a new business can be a roadblock for entrepreneurs. Overhead costs might eat into early profits. In addition, traveling to less than optimal locations can waste valuable time. A great alternative to this challenge is opening a virtual office. A virtual office can be run from the comfort of working from your own home and eliminate ... Read More »
As a manager, it is your responsibility to ensure that your employees are contributing to the best of their abilities. Productivity is everything in a business. The very minute details can affect your office’s production and time management. If you are an office manager and you feel that you need to incorporate new ideas to improve on productivity, here are ... Read More »
Forced Ranking is one of the hot button issues in business. This controversial management system puts employees into tiers based on employee performance. This is usually done with the intention of increasing productivity, but it can also have its drawbacks. If you’re a manager looking to incorporate forced ranking into your office, you should strongly consider its strengths and weaknesses ... Read More »
Process mapping is defined as an analysis of how work is done versus how it should be done. If you are wondering: what is process mapping? It illustrates all the steps taken in a particular process and putting them down on office paper. If you are a manager of any business, large or small, process mapping can help you to ... Read More »
If you are in the process of opening your own small business, you may be considering new leasing equipment to lower start up costs. This decision is the first of many business challenges you will face. Leasing equipment may be the right choice for you, but most small business owners have varying needs. This post will cover the advantages of ... Read More »
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