Accoding to the experts
The single biggest problem facing most businesses today is creating and maintaining a profit.
Todays Challenges to Profitability:
- Increase Competition for Sales
- Increase cost
- Availability of trained labour
- Pressure to lower prices from competition and customers
- Difficulty in raising prices
Solutions:
Reduce costs
- Increase productivity
- Invest in new systems and processes
Maintain or Increase Prices and Profits:
Differentiate Products
- Manufacture and sell products that are patent protected
- Manufacture and sell products that look different
- Manufacture and sell products that perform better
“it is imperative that companies do the same job, or a btter job faster, in order to reduce costs and maintain or increase profits.” Their profitability and very existence depends on it.
