Tag: productivity

Doing More With Less – Improving Productivity

Whether in response to low oil prices or simply in an effort to run leaner, companies across the globe are cutting jobs.  Last week, Chevron announced that it plans to lay off roughly 10% of its workforce, roughly 6000 to 7000 workers, in 2016 to deal with the plunge in crude prices.  Deutsche Bank recently

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Fire Your Customers to Improve Cash Flow

Recently, I was having lunch with one of our strategic partners. He was sharing a story with me about a customer they were having problems with.  He talked about how difficult the customer was to service. Consequently, that customer consumed more of the firm’s resources than other customers. But he was charging them the same

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10 Ways to Improve Productivity

The new year is well under way and many of us are working with new, leaner budgets.  When we were developing these plans at the end of 2019, it seemed completely realistic that we could cut costs while maintaining our current sales volume.  Now that the holiday buzz has worn off and harsh reality has

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3 Benefits of an Analysis of Customer Profitability

Over time weeds grow in any garden. In the same way, unprofitable customers work their way into your company. To avoid the high costs of low profit customers, you should perform an annual analysis of customer profitability. Therefore, weed your garden of customers who are sapping your profits and cash flow. Although there are many

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Using Flash Reports to Improve Productivity

In today’s fast-paced business world, most companies use some sort of dashboard or flash report to monitor and improve productivity and other key performance indicators.  Despite their wide use, many are still confused on what exactly should be measured and what constitutes a key performance indicator. Using Flash Reports to Improve Productivity What often happens is

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Wage Rate

See Also: How to compensate sales staff Compensation Plan Equity Interest Capital Project Damage Claim Wage Rate Definition The wage rate definition is the rate of compensation for a worker. It is one of the central themes of the study of human resources. It is determined by 2 factors: productivity at work or number of

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Recruiting a Winning Team

See Also: How to Hire New Employees Designing an Effective Internship Program Recruiting a Winning Team If an organization is to be successful, recruiting a winning team should be a top priority. An organization cannot function efficiently if its personnel are not chosen appropriately. Therefore, certain steps must be taken so that an organization can

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Recession Definition

See Also: Economic Indicators Stagflation What are the ‘Twin Deficits’? Supply and Demand Elasticity London Interbank Offered Rate (Libor) Controversy Recession Definition A recession definition is a period of slowed economic activity. The term describes a contracting economy. It is typically defined as two consecutive quarters of declining gross domestic product. Characterize a recession by

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Overhead Rate

See Also: Discount Rate Overhead Expense Reduction When is an interest rate not as important in selecting a loan? Required Rate of Return Predetermined Overhead Rate Outstanding Debt Overhead Rate Definition Overhead rate, defined as an expression of overhead costs which are displayed across periods, is an essential function for a business which must manage

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Marginal Tax Rate

See Also: Tax Brackets Prepaid Income Tax Flat Tax Rates Deferred Income Tax Cash Flow After Tax Marginal Tax Rate The marginal tax rate is the tax rate that applies to an incremental dollar of a company’s pre-tax income. It is the tax rate paid on the last dollar earned. A company may incur a

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Management Audit

See Also: Total Quality Management Capital Structure Management Activity Based Management (ABM) Retainage Management and Collection Management Definition Management Audit Definition A management audit can be defined as an audit which analyzes the effectiveness of the management team of a company. The purpose of this is seven-fold: understand current practices, relate these to company financials,

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Key Performance Indicators (KPI’s)

See Also: Flash Reports Normalized Earnings Continuous Accounting: The New Age of Accounting Collection Effectiveness Index Key Performance Indicators (KPIs) Definition Key Performance Indicators (KPIs) are defined as the key drivers of economic activity for a company In essence, KPIs measure the productivity of an organization. By performing a key drivers analysis of the most

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