We use the concept “the 4Ps of marketing” to define one of the best known and applied strategies in this field, which consists of analyzing the 4 fundamental elements: the product, the price, the point of sale and the promotion. Although some may seem more important than the others, they are all necessary. If one … Read more
The conditions for economic growth are a series of economic, social, demographic and political factors that are necessary for a country, union of countries or region to grow economically in a sustainable manner. Although there are many other measures, in the words of Adam Smith “the wealth of a nation” is usually measured through the … Read more
Economic growth is understood as the positive evolution of the living standards of territory, usually countries, measured in terms of the productive capacity of its economy and its income within a specific period of time. The strictest definition of economic growth is the one that indicates that there is an increase in terms of income … Read more
The Consumer Price Index (CPI) is a ratio that measures the variation of the prices of a basket of goods and services in a specific place during a certain period of time. The IPC values a set of products called base, with which the increase in the cost of living can be determined. This index … Read more
Purchasing power is the number of goods or services that can be achieved with a fixed amount of money depending on the level of prices. Individuals, companies or countries use their resources to meet the needs they have. The relationship between the price paid for them and the level of resources that is possessed is known … Read more
Having the proper packaging is important for the protection of products during transport, and it could be said that there are as many packaging models as there are products on the market. In fact, the supply of packaging is so great that it could be considered almost infinite, and there are all colours, shapes, sizes, and materials, including cardboard. … Read more
The main purpose of any business is to develop a lucrative activity that, to be successful, must be based on a good planning of objectives, goals and strategies of various kinds that mark a course to follow. The financial business objectives are essential for the management of any organization, without them you would enter the … Read more
What is ISO certified mean? The ISO Standards are a set of guidelines aimed at certifying the quality management of a company in its different areas, from inputs, through the different stages of production, to the elements of the supply chain. The ISO standards are formulated and published by the International Organization for Standardization, or … Read more
Most people can find a McDonald’s in any city in the world. The overall success of this franchise can be attributed to the McDonald’s objectives. And at the end of 2007, they operated 31,377 restaurants in 118 countries around the world, serving more than 50 million consumers a year. When consumers are aware of the … Read more
Although several criteria separate salaried workers exempt from non-exempt workers, the key difference between the state of the exempt and the non-exempt wage earner is the payment of overtime. Exempt employees do not receive overtime pay; non-exempt employees yes. The classification criteria for exempt and non-exempt workers are part of the Fair Labor Standards Act, or FLSA, which … Read more
The term goods refer to all those objects, material or not, that have some value for those who own it. However, since this value can vary depending on the purpose given to said asset, there is a general division into capital goods, intermediate goods and production or consumption goods. Although it is a less used classification, goods can also be classified according to … Read more
What is a retroactive payment? If an employee was being paid in the wrong way for a job performed or if he received a salary increase that was made effective from a previous payment period, the difference in what was paid and what he actually received is called retroactive payment. In general terms ” retroactive ” means that … Read more
While completely eliminating workplace conflicts is not a feasible goal, the manager of a small business should strive to minimize the number of conflicts present in the business. When conflicts receive all the attention, attention is given to the tasks necessary for the business. This can cause a waste of time and productivity, which can ultimately lead … Read more
An environmental management system is a procedure for managing the commitments that a company must take on environmental matters, regardless of its size and scope of action. An environmental management system covers the planning, organization, documentation, definition of responsibilities and roles, implementation, review and maintenance of the protocols or formality that in environmental matters must be met according to international … Read more
The architects contribute greatly to the infrastructure of the cities, design the heliographic copy for the new buildings and plan renovations and restorations of old buildings. According to the Department of Employment Statistics (BLS), to be a successful architect you need to have a bachelor’s degree in this field, internship work experience and pass a registration … Read more
The term certified refers to authenticity because it comes from the Latin word “certify” that is translated into a letter confirming certainty. Consequently, it is a document that has the purpose of confirming a certain issue, for example the possession of a good (uncertified certificates), the occurrence of a fact (death certificate) or having passed a … Read more
A balance sheet offers an instant overview of the financial situation of a business at a specific point in time. It reveals the assets of a company, liabilities and stockholders’ equity, providing valuable information for investors, managers of companies, suppliers, competitors, government agencies and potential lenders. A balance sheet should follow the formula, “Assets = Liabilities + … Read more
The addition of percentages can be complicated. Let’s say you have a 15% discount and a 30% discount for something you want to buy. What is the total discount that will be applied to your purchase ?. It is not always as simple as adding the same numbers. If you want to add a percentage to another percentage, but … Read more
The shoring contemplates the construction of a temporary safety structure to support the walls of a building that has become unstable due to either the foundational expansion or a natural disaster. The type of shoring is chosen by the contractor and will depend on the structural condition of a concrete building and the circumstances surrounding … Read more
An invoice is simply a detailed account, but for a business client. The purpose of the billing process is to collect the funds owed to customers. Outline your own billing process clearly so you can do the right thing in recovering your accounts receivable at the right time. Verify the receipt of merchandise The first … Read more
Ecolab is a company that specializes in disinfection, cleaning, food safety, services and infection control products. Ecolab is considered as the global leader in its field. The head office is located in St. Paul, Minnesota. Company History Ecolab started in 1920. The company was founded by Merrit J. Osborn in 1923 and was originally called … Read more
Founded in 2000, StubHub is a secondary online seller of tickets for sports and entertainment events. Buying and selling tickets on the site takes only a few steps. Sell tickets Sellers list their available tickets and set their price on the site. The seller determines the price, which means that the cost to the buyer … Read more
Chevron Corporation is an integrated non-governmental energy company headquartered in San Ramón, California. Present in more than 100 countries, it is involved in all facets of the oil and gas industry and is known as one of the largest and most powerful energy entities in the world. Origins In 1879, oil was discovered at Pico … Read more
The equilibrium price is the point on the axis where demand and supply intersect in a graph. The simplest way to find the equilibrium price is to make a graph of supply and demand, and then find where they come together. It is possible to find equilibrium prices using the algebra based on the equation … Read more
Per capita income is a useful economic indicator for an area. Basically, it is the amount of income that each individual of a population would receive if the total income of the area is divided equally among all the inhabitants of the population. Often, per capita income is used to measure the wealth of a … Read more
In many businesses, some professionals are specialists and others are generalists. The specialists own a set of specific skills; while the generalists have knowledge of a number of different areas of the business. Professionals should determine if they prefer to become a generalist or a specialist or try to be both, as companies decide where … Read more
Understanding the profitability objectives of an investment before investing money is a critical aspect of recognizing the level of risk you have assumed. Although the profitability objectives can be established in a very specific or more general way, in any case, this information serves as an indicator of how aggressive or conservative the investment is. … Read more
Official documents for state use often require the signature of a notary public. The signature serves as an official method for others to verify the validity of the document since the information of the notary is included with the signature. Each state in the country has its own rules on compensation that notaries should follow. … Read more
The recruitment and selection objectives include a variety of components related to the search, and recruitment objectives and recruitment and retention selection of qualified employees. Clear definitions of job qualifications allow for easier identification of potential candidates and recruitment involves attracting able people using methods such as outsourcing and the Internet. The selection objectives will … Read more
When we talk about the market, we can refer to the geographical place where buyers and sellers are or to the theoretical place where a certain supply and demand is located. The word market is often used in the area of the economy and in the area of marketing, where the term potential market is … Read more