“The cost advantages taken in by companies when production becomes efficient are called economy of scale.” Companies can achieve economies of scale by increasing production and lowering costs. This happens because costs are spread over a larger number of goods produced, obviously costs can be both fixed and variable. The size of the business usuallyContinue reading “Economy of Scale, simply explained”
Tag Archives: performance
Customers and Employees Churn Rate simply explained.
The churn rate, also known as the rate of attrition or customer churn, is the rate at which customers stop doing business with an entity. It is usually expressed as the percentage of customer doing business transactions with a company who discontinue their purchases within a given time period. It’s also used in Human ResourcesContinue reading “Customers and Employees Churn Rate simply explained.”
Starting a Small Business in Tough Economic Times
Starting a small business is no easy work, and in a tough economic times or during a crisis, it can be even harder. This is due to the fact that when credit markets are tight, it can be hard to get access to financing. That why it’s crucial for small business start up to masterContinue reading “Starting a Small Business in Tough Economic Times”
What is Gap Analysis via @retailroom
Gap Analysis In management literatures, gap analysis involves the comparison of actual performance with potential or desired performance. If an organization does not make the best use of current resources, or forgoes investment in capital or technology, it may produce or perform below its potential. This concept is similar to an economy’s being below theContinue reading “What is Gap Analysis via @retailroom “
Simply explained retail KPI’s
“KPI’s can truly help you to get insight of your business performance, “What gets measured, gets managed” KPIs are also known as performance metrics, business indicators, and performance ratios. A Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate theirContinue reading “Simply explained retail KPI’s “
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