Happy Friday! I hope you’ve had a great week. Today, I want to discuss unprofitable activities/factors that your company may be utilizing a great deal of resources on. “By understanding your customer’s priorities you are able to shift resources to activities that drive value and profitability, in turn, eliminating those factors that yield no profitsContinue reading “E.O.W (End of the Week) Notable Tip: Unprofitable Factors in the industry”
Tag Archives: business tip
Lean Wednesday Tip: Product Development Costs
“During the design and planning phase of your product is the best time to identify and deal with problems. Being able to understand the many ways your product can fail before costly investments are made in equipment or customer will keep costs down and client satisfaction high.”
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”
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”
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”
E.O.W (End of the Week) Notable Tip: Redesigning Business Models
Happy Friday! I hope you’ve had a great week. Today, I want to discuss business models. As we all know, changes in trends and customer behavior affects profit. Therefore, it is important that leaders stay abreast of trends that could affect their bottom-line and have solutions at the ready. They should also include non-customers intoContinue reading “E.O.W (End of the Week) Notable Tip: Redesigning Business Models”
E.O.W (End of the Week) Notable Tip: Strategic Plan Performance
Happy Friday! I hope you’ve had a great week. Today, I want to end this week with key insights on strategic plan performance. “Strategic plans should concentrate on critical success factors for the company, providing plans for closing the gaps between what the company is capable of doing versus what it needs to be ableContinue reading “E.O.W (End of the Week) Notable Tip: Strategic Plan Performance”
How to plan a Process Improvement Project
When planning a process improvement project the most important question you have to ask is, “What problem are we trying to solve?” This question relates directly to the first step in DMAIC ( a Lean Six Sigma problem solving tool), which is to define the problem. After you answer this question you are ready toContinue reading “How to plan a Process Improvement Project”
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