Understanding the economic environment the company is facing, generating projections in real time and having the opinion of external consultants to the organization, are some of the strategies that could help companies in times of low sales.
In Central America, during the first half of the year, some economies reported declines in their productive activity. The most difficult case is Nicaragua, where economic activity has collapsed 7% in the last year. However, other countries face adverse situations, such as Costa Rica, whose level of economic activity has shown a downward trend over the last year and a half.
Having the required resources to manage the data needed to make decisions is crucial to the success of businesses in today's environment.
Today's data savvy organizations, those with a top-down approach to decision making, do a better job of extracting value from the data, explains a Coursera publication.
The search for the ideal margin is an aim that keeps a lot of business owners up late at night, but this kind of reasoning does not always help them be more profitable.
In general, those who ask themselves what price they should set for their product, start from an incorrect premise: using the cost as a starting point.
In an increasingly competitive business world, satisfying customers with the service or product that companies sell them, is no longer enough.
Trying to satisfy your customer is always one of the main objectives for companies.However, as the entrepreneur and founder of Virgin Group, Richard Branson says, companies are often not clear on what degree of client satisfaction they aspire to achieve.Do they have low or high expectations?What do they really expect from the product or service they are buying?
Without falling into the bad habit of micro-management, managers should follow the premise of "less deskwork and more walking around the factory."
An article published by the School of Business at the University of Montevideo, points out the need for senior executives and business managers to leave, for short times, the strategic part of their job, in order to be more directly involved in the company's concrete productionprocesses.
"Everything we do in a company to meet the goals of our strategic plan depends directly or indirectly on negotiation processes."
A proposal by Gabriel's Vallone, professor at IEEM, the Business School at the University of Montevideo, suggests that individual negotiating power should be extended in an integral - and in a manner bespoke to for each company- model covering all business prospects and interests of all of the parties involved, both external and internal ones.
Memorandum on Physical Inventories and payment schedule for obligations in May 2016.
From a Memorandum sent by Tezó and Associates:
Physical inventories: Counting properly
One of the main components of financial statements of company´s with industrial or commercial activities are inventories, which are usually made up of goods available for sale or consumption and inventories of production processes.
The company Management, at the end of the accounting period must ensure that the inventory quantities that may exist in their stores, warehouses or any other collection site correspond to the economic reality by carrying out physical counts in order to ensure that the amounts of inventories are kept in good shape and are valued in accordance with the IFRS.
In addition to revolutionizing the concept of transport in cities, Uber is also an example of how trends in price management are changing within companies.
The processes and methods followed by businesses to determine the sales prices of their goods and services are changing as fast as the tastes and preferences of consumers.
If job responsibilities are easy then it's very likely that you may not be using the full potential of your workers, preventing their personal growth and causing demotivation.
In a discussion of the topic in an article in Harvard Business Review, Francesca Gino says that the belief that work without stress increases productivity, is false.
A company can make no mistakes at all, but if its strategy and way of thinking are not able to adapt quickly to changes in the environment, it will inevitably disappear.
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