Open a Dollar Store - How to Provide Feedback Your Employees

When you open a dollar store you are responsible for making sure that every employee receives appropriate performance feedback. For many who open a dollar store this will become the first time that they have supervised. For many this will be the first time that they will be required to handle performance management as well. For most this will be the first time that performance management became critical to the success of their business.

The Secrets Of Teaching Management Students

Teaching is comparable to public speaking. Students want to learn without being smothered with confusion or unrelated content. Preparation is the key to success of every session. A professor should not heavily depend on the textbook whose contents may not be up-to-date and may not be relevant to the level of the students. A student can be made interested in the topic of the day only when the introduction is adequate and easy to follow. The examples should be from the contemporary and familiar field or from every life. Points which are fairly less complex should be thrown open for discussion.

Inventory - Cash Or Carry

There is an old saying in business that 'Cash is King.' Inventory, no matter what type, ties up cash and diverts it from other uses. Therefore the aim of inventory management should be to minimize the inventory investment for a particular customer service level. The approach taken should ensure that the target level of service is met while also minimizing the cash investment.

Do You Hold Too Much Inventory - Check Your Stock Turn Ratio

It is essential to measure the availability of stock, after all that is why the investment is made in the first place. However, measuring stock outs can be a limiting way to measure inventory as it only measures one dimension of inventory, that is, availability.

Better Practice Inventory Management

People are always searching for 'best practice', somehow believing that there is a silver bullet solution that will cure their inventory problems. The problem, of course, is that what is best practice in one country/industry/business might not be best practice in another. In any case, the exalted 'best' practice might just be too much of a jump for many people to take or indeed may not be economically viable.

Why Cost Reduction Efforts Fail

Every business is trying to improve profitability, after all this is why the business exists. To achieve this goal there are only two paths that can be taken – increase revenue or reduce costs.

How to Design Great Performance Measures

Recently I was doing some weird kind of performance measurement when I was mulching my garden, like how could I reduce the number of shovels needed to fill the wheelbarrow, or how many wheelbarrow loads could I move in 30 minutes? Easy stuff to measure, I suppose. But I know there are lots of things you've come across that aren't that easy to measure. This article has some tips for making the hard stuff more easily measurable.

Why Do We Measure Performance, Anyway?

Trees (like all living things) have a clever feedback loop that helps them translate what their environment is doing so they can respond in ways that keep them living and growing and reproducing. Simpler but not dissimilar from organisations that know the real meaning of performance measurement, don't you think? This article discusses the real purpose of performance measurement: feedback.

A Lesson of Survival in the Always-in-Touch World

Simon sauntered. It was rare that he had the chance to take a lunchtime walk beside the city's river. He wasn't going to waste this one. And in any case, he desperately needed some space. Oblivious of the grey skies, the grey path and the rush of other grey suits weaving their way around him, he wrapped himself in his thoughts.

The Most Important Role Of The Manager

Many people have different ideas of the key role of managers and how they should lead. But being able to do just two things well with your team could transform your it from a mediocre one to a high performing force.

Plant Maintenance Best Management Practices

Many companies are aggressively working to improve facility and plant maintenance program operations that adhere to the statues and guidelines of OSHA and EPA as they relate to pollution prevention. In addition, these plaint maintenance managers are also dealing with hygiene issues and the well being of workers as well as the environment.

Are Your Employees Safe?

Housekeeping. 29 CFR 1910.22 (a) (2) 1910.22 General Requirements. The Occupational Safety and Health Administration sets down specific rules and regulations for the maintenance of facilities in relation to floor safety and the rules of compliance.

Employee Incentive Programs that Really Work

Employee incentive programs. Bonus programs. Do they work, and really provide a good return on investment? What if you're operating a business in a high-turnover environment, like retail? Here's an effective approach to employee incentive plans, regardless of industry, and even with high employee turnover.