Happy Friday! I hope you’ve had a great week! Read below for the EOW for today, Friday, October 6, 2017. “When it comes to safeguarding the bottom-line, hitting the numbers is the only focus. This narrow thought process causes leaders to lose sight of what truly drives those numbers and that is their employees andContinue reading “E.O.W (End of the Week) Notable Tip: Numbers Vs People”
Author Archives: Notable Office
Maintaining Integrity during rapid growth
What is integrity? According to dictionary.com, integrity is “adherence to moral and ethical principles; soundness of moral character; honesty.” Why is it important in business? Integrity in business is important because it builds internal and external trust amongst all the people that have dealings with the company. Effective leaders “walk the talk”; in other words theyContinue reading “Maintaining Integrity during rapid growth”
Lean Wednesday Tip: Tax deductible Holiday Expenses
“Employee parties/outings, public entertainment and charity events are 100% deductible.”
E.O.W(End of the Week) Notable Tip: Alternatives to Layoffs during business financial hardships
Happy Friday! I hope you’ve had a great week. Today, I would like to discuss some alternatives to reducing costs during business financial hardships instead of mass layoffs. Strong and effective leaders build trust in their companies and see their employees as their second family sometimes even as an extension of their family. When employeesContinue reading “E.O.W(End of the Week) Notable Tip: Alternatives to Layoffs during business financial hardships”
Lean Wednesday Tip: Inventory Management
“An effective inventory management process includes the sharing of inventory data between buyers and suppliers. Procurement Managers use the total cost method when purchasing and inventory analysts anticipate and understand demand trends (collaborate with Marketing to understand customer purchasing behavior and trends) and share this information with suppliers.”
E.O.W (End of the Week) Notable Tip: Reducing defects in a product
Happy Friday! I hope you’ve had a great week. Today, I will leave you with a short tip on how to keep product costs and defects low. “Whenever a faulty product/service reaches a customer, the costs associated with the error increase. Integrating preventative plans to detect and correct the nonconformity before the product/service is preparedContinue reading “E.O.W (End of the Week) Notable Tip: Reducing defects in a product”
Lean Wednesday Tip: Quality Costs
“Internal departments in a firm that are far-removed from daily operations can affect the quality of a product or service. Every department within a company should identify, collect and monitor quality costs within its control.”
E.O.W(End of the Week) Notable Tip: Insurance
Happy Friday! I hope you’ve had a great week. Today I leave you with a short tip on how CFO’s can save money on business insurance. “CFO’s can get better insurance deals by becoming involved and sharing with insurers balance sheet information, profit and loss, cash flow statements, credit ratings and cash reserves. In short,Continue reading “E.O.W(End of the Week) Notable Tip: Insurance”
Strategic Customer Analysis
It is common practice to determine your target customer when developing a business. However, this tunnel vision buyer group mentality leaves money on the table for businesses. To truly optimize profit and revenue a company’s leadership must be well aware of the many buyer groups (purchasers, actual users, and influencers) that can offer opportunity toContinue reading “Strategic Customer Analysis”
Lean Wednesday Tip: Variation in a process
“Sources of variation can be found in the process itself, the raw materials used, the operator’s (employee’s) actions or the environment. For example, software settings / updates, tool wear, humidity, heat, and over-adjusting a machine are all sources of variation.”
Notable 