Improving Customer Retention The specific time period is determined by the company’s specific business and average frequency of purchase by the customers. Retaining customers (reducing customer turnover) is critical for profitability and business success. Marketing and Sales Managers who develop Customer Retention approaches to improve the current retention rate are making very effective and profitable … Read more
Creating Reliable Measurement and Rewards System In today’s especially difficult economic climate, finding unique, clever ways to motivate employees to prevent turnover can be a challenge. Instituting a system of rewards is a smart option, as is integrating performance management and performance standards into the strategic planning and each individual job description and employee performance … Read more
Blue Ocean Strategy The four questions that are critical for developing blue ocean strategy: 1. What are the factors, which your industry takes for granted, but should be eliminated? This question helps you to think about removing certain elements which often organizations within your industry utilize as their competitive differentiators. All those factors are usually … Read more
ABC inventory Analysis is a simple approach to creating categories for your inventory For example: The category A items will be the inventory which requires very strict control and management with accurate tracking and reporting. The category B items in your inventory will be items which do not require very strict control and reporting. The … Read more
Return on Sales Return on Sales (ROS) is an excellent key performance indicator (KPI) key to assess the business functional performance. ROS is additionally referred to as the company’s operating profit ratio. It can be determined employing this formula: Return on Sales = Net Income Before Taxes and Interest / Sales This kind of KPI … Read more
The next step in the process is Defining Your Strategic Metrics. For each of the strategic objectives identified in the previous step make a list of the most relevant performance metrics. For example, if one of your strategic objectives is to increase overall sales by 15% then your potential performance metrics would be focused on … Read more
This tool is very similar to the BCG Matrix and you can actually view the GE or McKinsey Matrix is a kind of extension of the BCG Matrix (the multifactor portfolio analysis tool). The main difference is that the GE Matrix compares different products or businesses on “Business Strength” and “Market Attractiveness” variables and in … Read more
Why do you need a Business Scorecard Dashboard Report? See your business at a glance… The single most important benefit of one-page business reporting is the improved business insight for the business decision makers, executives and managers. The 1-page report design allows you too see everything you need to know at anytime for your business … Read more
Developing Customized Business Solutions for Excel Users MR Dashboard develops customized excel applications, software, and templates for your business analysis and reporting needs. All our customized products are fully automated so you can perform business analysis and create business reports with a click of a button in Microsoft Excel. By using customized excel applications you … Read more