Skills Costs

Key business skill: Finance – Costs When you are considering costing, it is important to consider different kinds of Business Costs, and understanding the distinctions between them will help you “cost out “your product accurately. Hidden costs are easily forgotten, … Continue reading →

costing a product

Key Business Skill: Finance – Costing a Product Everyone making commercial decisions in a business needs to have a basic understanding of finance, so that they appreciate the financial implications of their decision on the business. If you are involved … Continue reading →

Skills Budgets

Key Business Skill: Finance – Budgeting The most effective way to plan and control costs is by setting a budget. A budget is a quantitative expression of a plan for a defined period of time, usually a year. It usually includes target … Continue reading →

Pricing

Skills Pricing

Key Business Skill: Finance – Pricing Your pricing decisions, and your pricing strategy are one of the most important and influential areas for a profitable and successful business. The first thing to ensure is that you cover your costs, or … Continue reading →

Skills Pricing Strategy

Key Business Skill: Pricing strategy Your pricing strategy is important in building the customers perception of the company and brand and will normally be agreed at senior management, or Board Level. The marketing department will have a key part to … Continue reading →

Skills Pricing 3

Key Business Skill: Raising or lowering prices There will be times when you need to change your prices. This can be a very difficult thing to do, because in a competitive market, some prices are extremely sensitive. Sometimes as little … Continue reading →

Public speaking

This is known to be one of the things that people fear most. But in furthering your career, this is one of the things you may find you have to do. It won’t necessarily be a formal public speaking engagement, … Continue reading →

Are you a strategic thinker?

Strategic thinking is defined as a mental process applied in the context of achieving success. So in terms of using strategic thinking in your job this translates to thinking around every decision you make to ensure it gives the most successful … Continue reading →

Managing your Cash Flow

Cash flow forecast or cash budget is a forecast for income and expenditure for a particular time period. It usually covers the next week or month or quarter. The cash flow document will list expected cash receipts from sales and other … Continue reading →

Leadership and Management

Leadership and Management

“Leadership and management” are often discussed in the same breath, but are actually different skills. Let’s have a look at them both to get an understanding of them. According to Wikipedia, Leadership has been described as “a process of social … Continue reading →