LOSS LEADER PRICING AS STRATEGY FOR SALES INCREASE Loss leader pricing is an aggressive pricing strategy wherein a store sells certain goods below cost in order to attract customers who will, according to the loss leader philosophy, make up for the losses on highlighted products with additional purchases for profitable […]
JOB SHOPS AS AN EARLY FORM OF MANUFACTURING ORGANIZATION A job shop is a type of manufacturing process structure where small batches of a variety of custom products are made. In the job shop process flow, most of the products produced require a unique set-up and sequencing of processing steps. […]
INNOVATION AND BUSINESS SUCCESS Innovation is the basic driving force behind entrepreneurship and the creation of small businesses. When an individual comes up with an idea that has not previously been explored, or a niche that larger businesses have not been able to exploit, he or she may be able […]
WHY A BUSINESS NEEDS INFORMATION BROKERS Information brokers provide, for a fee, information retrieval from publicly accessible data sources, most often databases. Information brokering first emerged as a business opportunity for individuals in the mid-1950s. Also known as independent information specialists, brokers often do much more than gather the information. […]
HIRING A GOOD FINANCIAL PLANNER CAN HELP SAVE A COMPANY FROM BANKRUPCY Financial planners provide individuals and businesses with investment advice and, in some cases, also manage their client’s assets. Financial planners can be particularly valuable in helping business owners to make decisions about both their personal and business finances. […]
MULTITASKING Multitasking refers to the ability of an individual or machine to perform more than one task, or multiple tasks, at the same time. In the field of human resources, multitasking is a popular term that is often used to describe how busy managers or business practitioners are able to […]
LABOR SURPLUS AREAS AS EVIDENCE OF COMPANY CONTINUAL EXISTENCE A labor surplus area is an economic region in which the number of prospective – and qualified – employees for positions with a company or companies exceeds the number of jobs available. This state of affairs can be an important component […]
HOW JOB DESCRIPTION CAN BE A VALUABLE BUSINESS RESOURCE WHEN USED CORRECTLY At the heart of the recruitment process lies the general concept that a company needs to hire people to complete certain tasks or group of tasks within the organization. The description of the various responsibilities of each position […]
THE ATTRACTIVENESS OF FLEXIBLE WORK ARRANGEMENTS Flexible work programs are work arrangements wherein employees are given greater scheduling freedom in how they fulfill the obligations of their positions. The most commonplace of these programs is flextime, which gives workers far greater leeway in terms of the time when they begin […]
KEYS TO FINDING OPTIMAL FIRM SIZE Optimal firm size refers to the speed and the extent of growth that is ideal for a specific business. Optimal firm size is dependent on a variety of internal and external factors. For some home-based businesses, the optimal firm size may be the two […]
