Using Weighted Scores Prioritising Technique

When you are faced with many alternatives, it can often be very hard to choose between them. They will be strong on some things and weak on others; but hardly ever the same things. The sort of problem you face when choosing a car or a new staff member for example.  A quick and effective way to work through such a maze is to use a Weights and Scores technique described below.  Yellow Belt

How to Use 5 Whys Problem Solving Technique

Five Whys and its sister Five Hows is a brainstorming tool that drives you to the reasons behind something happening when it is not obvious (5 Whys problem solving) or a desired outcome (5 Hows strategy). 

Yellow Belt article

Gross Profit Margin Analysis Boosts Profit Explained

Gross Margin Analysis opens the door to understanding the complex interactions between Revenue, COGS (Cost of Goods Sold or Operating Expenses) and Gross Profit.  It can be hard to understand why (e.g.) Revenue is going up but Gross Profit is going down!  Gross Margin also lets you measure the operating efficiency of your business and points out which components of your COGS may be declining in efficiency.  Bottom line, an improving Gross Margin is a good sign for improving profitability in your business.  Yellow Belt

How to Manage Highest Paid Person’s Opinion – HiPPO Effect

When a HiPPO (highest paid person’s opinion) is in play during staff meetings, it is doubtful that your enterprise is relying on data to inform decision-making. In fact, the HiPPO effect will be killing debate in your team meetings. Is your business making decisions based on what the HiPPO wants done?  Yellow Belt

C4.0 Troubled Business: Introduction to Turnaround90 (T90)

Is Your Business Enterprise Experiencing Financially Tough Times?

It is a sad fact that many enterprises, both large and small, for and not-for profit, hit tough times and often don’t survive.
If you are experiencing tough times, this Campaign is designed to help by:
(1) Rapidly stabilising your business to reduce further damage and then
(2) Demonstrating the next steps to get out of your rough patch

It is designed to carry out within a 30 day period of intense activity so that your whole team can stay focused. This can vary at your discretion.
It should be used in conjunction with your professional advisers who are more familiar with the particulars of your business.
If your situation is urgent, discuss your options immediately with your professional advisors.

Turnaround90 is a yellow belt Campaign.

Level 4: Waste/Muda Reduction Menu

  The science of “Lean Management” has demonstrated that dramatic reduction in costs, and a consequent increase in Profit, can come about from the systematic removal of the 8 types of waste to be found in business. With YOUR specific issue in mind, select the area below that best fits. NOTE: Waste/Muda Reduction is part […]

Overhead Margin Analysis Explained

Overhead Margin relates to Overhead Costs, which are the costs in your business that do not change directly with a change in your Revenue and/or a change in your Cost of Goods Sold (COGS).

They include such things as:

  • Rent, insurance.
  • Interest.
  • Salaries of permanent staff.
  • Administration costs in general; telephone, office costs.
  • Some elements of the sales process that are not directly related to your Sales Revenue.

These Overhead Costs tend to grow over time and may lead to inefficiencies in your business. This is due to activities no longer being relevant to your business but remain as a cost. 12Faces has several tools for helping to remove these “barnacles” that detract from your Operating Profit. Yellow Belt

How to Use Gross Margin Analysis

Gross Margin Analysis:

  • Lets you diagnose problems caused by changes in Income and/or Variable Costs.
  • Income and Variable Costs can move in different directions, or in the same direction, at different speeds.
  • This can make it hard to work out what is causing an upturn or downturn in your business.

The analysis tips here will help make that clearer.  Yellow Belt

How to Manage Tough Times For Business

Is your business facing tough times?  Are you facing the choice to fix the problem or exit the marketplace? Let’s look at some alternatives here. Yellow belt.

error: Content is protected !!