Archive

For December, 2011

Dec 05

Economic Factors Affecting Business

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Any business organization has one goal, to maximize profit. The process of maximizing profit is simple. Analyze demand of consumers, and provide appropriate supply, in good quality and quantity. There are however many factors that affect this simple operation. These factors are often classified as macro and micro, internal and external, technical and non-technical. All the same, the sales, production and procurement of the business organizations, directly or indirectly depends on these factors. Hence, you will find that businessmen, closely analyze and ponder upon the economic factors affecting business firms.

Economic Factors Affecting Business

The following article is a small elaboration of the major economic factors affecting business organizations. Internal environment, operational environment and external environment are 3 major classes of such factors. The following list is however a comprehensive and integrated list of all possible economic factors that affect the working of business organizations.

Demand and Supply
The demand and supply are two principal factors that affect the working of any business model. The demand is the will and ability of consumers to purchase a particular commodity and the supply is the ability of the business to provide for the demand of consumers. It must be noted that all the factors that are included in this list are inter-connected. You may also read demand and supply analysis.

Marginal and Total Utility
Utility is the amount of satisfaction, that is derived by consumers from consumption of goods. It so happens that after continuous and successive consumption of units of the same goods, the satisfaction that is experienced by consumer starts decreasing. This often results into short term or long term fall of sales. Some organizations prepare for the launch of another brand before the fall in utility and sales is experienced. The launch of new brand, ensures that the revenue trend of the business does not fall. Diminishing utility is among the external factors affecting business. You may also read more on diminishing marginal utility.
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Dec 04

Workplace Safety: Prevention Doesn’t Need to Be Expensive

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Each year, over 200 people are killed in accidents at work. Over one million people are injured. Over two million suffer illnesses caused by their work. Injuries in the workplace not only incur significant costs to health services but they also make up a substantial cost to workers’ compensation premiums. Preventing injuries and ill health caused by work is an important priority of workplace safety.

There are many ways to prevent such occurrences. A health and safety program could be introduced and implemented. In this way, workers will know and understand the ways in which they and their co-workers can avoid potential hazards. The employers will also ensure that employees are not injured or made ill by the work they do, find out how to manage health and safety better, meet legal duty to protect the health and safety of the employees and to develop a positive health and safety culture where safe and healthy working becomes second nature to everyone.

Simple things like investing in safety signs around the workplace can save a lot of money and lives in the future. Employees must also be aware of the presence and how to use complete first aid kits and fire extinguishers. Every employee also needs to know how to report an accident correctly.
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Dec 03

Sales Management Training: 6 Actions to Hiring a Top Sales Person

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Finding the best sales agents is among the most important duties a sales team manager undertakes. The catch is that the majority sales managers don’t have a proved process to hire top salespeople. Yet to develop a group of solid high performing sales agents, a sales manager needs a repeatable, established method to hire leading sales agents.

A word of warning nevertheless, no matter what company or business you’re in, don’t ever hire soon after one interview. It’s way too little time to really find out what someone’s about.

Regardless of how awful the tension gets to hire rapidly, always keep to the same six-step system we outline on this sales management training. This kind of sales management hiring technique ensures uniformity so you can consider each applicant in as consistent way as is feasible.

The Six Step Hiring Process:

1. Figure out Your Hiring Requirements

2. Perform thorough resume assessment

3. Hold the First Interview (sixty minutes)

4. Hold the Second Interview (one to two hrs)

5. Execute Background and Reference Checks

6. Put together the Offer

Total time investment for all steps: 2 to 6 weeks as well as nearly three-plus hours of your time (perhaps more if you do the third interview)

This will likely appear to be a lot of time and energy invested for one lousy hire?
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