Product Costing

Proper product costing is an important factor for many businesses. The articles below provide a solid overview of product costing, systems used for cost management, and cost accounting.

Joint Product Costing – Joint costs are the costs of a manufacturing process that produces two or more products simultaneously. Methods that can be used to allocate joint costs include the physical-measure method, the net realizable valule (NRV) method, and the sales value at split off method. This article discusses all three methods.

Cost Management Systems – In order to examine formal integrated cost management systems it is necessary to define cost management systems, understand the scope of these systems, recognize the goals of these systems, and consider the items that affect the design of these systems.

An Overview of Cost Accounting – Cost accounting focuses on preparing, analyzing, and reporting information related to the cost of obtaining and using company resources. This article provides an overview of cost accounting and the tasks performed by cost accountants.

Employee Motivation

Employees play an important role in any business. Motivated employees work hard to ensure the success of any organization. The articles below cover the important topic of employee motivation.

Tips for Improving Employee Morale and Reducing Absenteeism – This article presents three causes of high employee absenteeism. Potential solutions to deal with this problem are presented, and the discussion includes the possible advantages and disadvantages of implementing each option.

Motivated Employees Feel that they Plan an Important Role within the Organization – Motivation can be directly linked to job performance. Employee motivation techniques that will be discussed include job design, job enrichment, goal setting, profit sharing, recognition, and appreciation.

Addressing Lagging Sales Team Performance: Tips for Improving Motivation, Thus Improving Performance - Lagging performance amongst the sales team is  a serious concern for many organizations. There are several rewards that can be offered to the sales team in order to increase motivation of the members.

Employee Resistance to Change – This article discusses several types of resistance to change and the ways that employees may exhibit them. Included is a discussion of methods to decrease resistance due to uncertainty and insecurity.

Creating Your Business Plan

Creating your business plan requires a wide range of business knowledge.  I will help you understand the various aspects of business planning by sharing helpful articles. The articles below are the first in a series.

Business Strategy: Identifying the Competition – Forming a successful business strategy involves creating an effective competitive strategy. The first step in creating a competitive strategy is to identify the competition. This article discusses three methods of identifying the competition.

Business Strategy: Creating a Competitive Strategy – Creating a first-rate competitive strategy is an important part of a successful business strategy. Businesses must develop a plan that addresses ways to compete in their respective markets. This article discusses several methods used to create a competitive strategy.

Business Strategy: Creating a Memorable Business Image – Business image is the perception that people have when they see your company name, hear your company name, or think about your company. A successful business strategy includes plans for creating a positive and memorable business image.

Business Strategy: Marketing to Women – Research has shown that women now make the majority of purchases in industries that are not traditionally considered “female friendly”. A successful business strategy will recognize this growing market segment and create a marketing plan that focuses on the female consumer.