Tag Archives: cost

How Much Should You Pay for an App Design?

Application design is a booming industry today. Demand causes prices to rise, so many businesses find apps too expensive. Here is a financial breakdown of such a project that will help to answer the question: How much should you pay for an app design? Continue reading How Much Should You Pay for an App Design?

How Can Delivery Routes Be More Efficient?

Your customers want their products, and they want them now. In fact, 62% of consumers say delivery speeds influence their buying decisions, and 30% of consumers expect same-day shipping. To keep up with customer demand, you need efficient delivery routes to deliver more packages quickly. How can delivery routes be more efficient?

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How to Increase Your Business Productivity

I am going to let you in on an industry secret. I’m sure you have heard consultants offer to make your organization more money by saying they can increase your business productivity. Then they produce clearly defined job tasks, work instructions, reports, forms, and job descriptions for every employee or business process – also known as a Policy and Procedure Manual. The thing is these manuals are derived from internal templates. Learn how to increase your business productivity. Continue reading How to Increase Your Business Productivity

Weighted Average Cost of Capital (WACC)? | Definition

We know that a good Return on Invested Capital is required to attract investors, but we also need our cost of capital (i.e. debt interest) to be lower than our Return on Invested Capital (what we do with investor money). The idea is to find cash for as little as possible and then invest it in projects within your company that will return as much as possible for less than the cost of capital. What is the weighted average cost of capital (WACC) and how is it calculated?

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Why is it Important to Upgrade the Technology in Your Business?

In many industries, modernizing equipment is the only way to keep a competitive edge. Using information Technology in business can reduce downtime and boost productivity. For small and medium-sized businesses, time is money. Why is it important to upgrade the technology in your business? Continue reading Why is it Important to Upgrade the Technology in Your Business?

What’s it Cost to Manage Policies and Procedures?

A manual system of document control — paper documents, logs, change records, manila folders, hanging folders, labeling “systems”, filing cabinets, a manual check-out system (with policies and protocols) — is a lot of work, no question about it. Have you ever thought about what it costs to manage such a system of policies and procedures? To answer this question, let’s look at the three main costs of managing policies and procedures. Continue reading What’s it Cost to Manage Policies and Procedures?

How to Benefit from Freelancers in a Crisis

From CEO and business owner to book authors and managers of specific departments, every employee benefits from hiring freelance experts in the first turn. For freelancers, their jobs are associated with some type of risk as they might lose the work at any time or remain unpaid. However, there are two sides to the coin. Recruiters benefit from using freelance labor for plenty of reasons. Let’s quickly have a look at where to hire freelancers and how you can benefit from freelancers in a crisis.

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What Is the Cost of Poor Quality?

If you are trying to explain the importance of quality to management, then you need to explain it to management using the language of management — costs and return on investment. Crosby described the cost of quality as the cost of nonconformance. Juran, another quality guru, explained it as the cost of poor quality or the costs incurred as a result of poor quality. What Is the Cost of Poor Quality (COPQ)? Continue reading What Is the Cost of Poor Quality?

Why COVID Will Change Business Communication

In the last nine months, we have observed people’s lives change drastically as a result of the COVID-19 pandemic. When offices were shut down, people quickly moved to make room for workstations in their homes. Employees went shopping for office gear to replace their dated equipment such as computer monitors, headsets, mice, and keyboards with modern ones. All this effort was to try and enhance their communication as they work from home. Continue reading Why COVID Will Change Business Communication