Tag - Problem Solving

How to Manage Highest Paid Person’s Opinion – HiPPO

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...

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Critical Financials for Business Explained

Critical Business Financials Explained provides a commentary on Tips that appear in the 12Faces TrendBoard family of analysis tools  

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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...

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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...

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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...

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How Gross 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...

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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...

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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.

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C4.1 Turnaround90: Rapid Stabilisation of a Business in Trouble

Many businesses, both large and small, hit tough times and often don't survive. If you are experiencing tough times, this article examines methods of (1) Rapidly stabilising your business and then (2) Turning around, a business that is experiencing a tough patch.  It is designed to carry out within a 30 day period...

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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

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