So what can you do to make sure that the employees you have on your team live up to your expectations? First, you must begin looking at each employee as a profit center, if you're not already. By psychological investment, I am referring to how you and your management treat them.
MESA International. Research services by Patricia Panchak. Smart manufacturing supports sustainability.
View the discussion thread. Emily Rabin. The biggest construction project today is not an office tower, a school or a hospital.
It always delights us to find small businesses which are able to leverage great design and in the process add value i. For too many businesses, design is thought of as a frivolous expense — and nothing could be farther from the truth. In simple terms, customers are willing to pay more for a well-designed product. Conversely, bad design will have the opposite effect and drive customers away creating an obstacle which is very difficult to overcome.
They think that if sales are great, then the business is great. But when sales increase, inventory and overhead increases. Productivity also decreases — due to exhaustion or overwork.
In the quest for ever greater efficiencies, productivity and general cost saving, there are a few key questions can open up new avenues to improve performance and profitability. These are:. By focusing on trying to prevent our worst performers from costing us money, we often fail to examine how our best performers make or save us money.
What are some tactics I can use to show the Executive Suite how HR impacts and contributes to the bottom line? There are some key competencies that you need to develop and demonstrate to gain respect from the leadership team — business knowledge, credibility, strategic planning, and metrics. Take time to learn about each of these areas so you can communicate accurately inside and outside the organization.
I think we can all agree that you have two customers: One is the consumer—your buyers and sellers—and the other are your agents. In order to have a mutually beneficial relationship with your agents, you must continually add value to them. Doing this fosters a long-term relationship…and, well, not doing it will put that relationship at risk. Be responsive and available.
New product lines can be added. New strategic alliances to made. Old customers willing to be re-targeted, re-captured and sold to again.
The top line and bottom line are two of the most important lines on the income statement for a company. More specifically, the bottom line is a company's income after all expenses have been deducted from revenues. These expenses include interest charges paid on loans, general and administrative costs, and income taxes.