Business Administration Topics
"There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man's lawful prey." -- John Ruskin, (attributed)
- Accounting
- BCG Matrix | business portfolio analysis | corporate-level strategies | Boston Consulting Group (= BCG)
- Brand
- Break-Even Analysis = BEA
- The break-even analysis establishes a relationship between revenues and costs with respect to volume.
It indicates the level of sales at which costs and revenues are in equilibrium.
The equilibrium point is commonly known as the break-even point.
The breakeven point is that point of sales volume at which total revenue is equal to total costs. It is a no-profit, no-loss point.
- Break-Even Simulator - Interactive
- Breakeven Analysis - Charts - YouTube
- Breakeven Analysis - Interactive calculator
- Break-even Analysis - 10 steps to creating a simple break-even template in Excel | TechRepublic
- How to Do a Break Even Chart in Excel: Step-by-Step Instructions - video
- Formula for BEA calculations
- x = f / (p - v)
- x = BEQ = Break-even quantity = the number of units
- f = FC = Total fixed costs
- v = VC = Variable costs per unit
- p = Average price per unit
- px = vx + f + Profit
- At the BE point, Profit = 0, so Profit can be eliminated from the equation.
- px = vx+f
- px-vx = f
- x(p-v) = f
- x = f/(p-v) = ( f / Contribution margin ) = (FC / (p - VC))
- Warning!
- Revenues ≠ Profit
- Revenue = Sales = income that a business has from its normal business activities
- Profit = R - E = Sales - (Fixed costs + COGS) = Earnings
- EBIT = Earnings before interest and taxes
- EBITDA = earnings before interest, taxes, depreciation, and amortization
- Price ≠ Cost
- Price is what a buyer pays to acquire products from a seller.
- Cost of production concerns the seller's investment (e.g., manufacturing expense) in the product being exchanged with a buyer.
- Contribution margin = Unit Revenue (Price, P) minus Unit Variable Cost (V) = Price - Cost
- BEA References
- Griffin 8ce, p.539, Ch.17
- Armstrong 5ce, p.359, Ch.10
- Keegan 8e, ---
Business Cycle (see graphic on the right)- Business Plan ...
- Career Topics ...
- Case Method ...
- Cognitive Dissonance
- Consulting
- CRM
- Decisions
- Business Environment - Five Forces model by Michael Porter
- eBusiness, eMarketing, eCommerce ...
- Economics
- Economies of Scale
- (Keegan/Green 8e, p.26, p.490)
- Elasticity
- English Language ...
- Entrepreneurship
- Environments
- Ethics / Morals / Legal
- Factory assembly line (examples)
- Finance
- Generations... (WW2, BB, X, Y)
- GDP & GNP
- Government
HRM = Human Resources Management
- Language ...
- Leadership
- Leverage - (Keegan/Green 8e, p.26)
Management Functions
- Marketing
- Meetings
- Money & Economics
&
Finance
- Motivation - Needs
& Wants
- Negotiation ...
- Pareto principle = 80/20 rule = the law of the vital few = principle of factor sparsity
- Politics & Government
- Positioning ...
- PPP = Purchasing Power Parity = Big Mac Index ...
- Price's Law = Price's square root law
- Satisfice
- The term was introduced by Herbert A. Simon in his Models of Man 1957
- Satisfice (= satisfactory & sufficient) vs. Maximize (= perfect)
- To obtain an outcome that is good enough. Satisficing action can be contrasted with maximising action, which seeks the biggest, or with optimising action, which seeks the best. In recent decades doubts have arisen about the view that in all rational decision-making the agent seeks the best result. Instead, it is argued, it is often rational to seek to satisfice i.e. to get a good result that is good enough although not necessarily the best.
- Humans usually select the first reasonable option (a strategy known as "satisficing" - a cross between "satisfying" and "sufficing"). We hardly ever select the best option from all available options. Our brain just can't be bothered to think all the time. Why Do We Satisfice? We satisfice because we want to reach our goal with minimum wasted effort and time. There is little upside to spending time and effort to find the best option. If we make the wrong choice, which happens all the time, we can simply click the "Back" button on the browser and try again. - (source?)
- The optimum choice is the one that provides the best balance between profit opportunities and the risks and costs of failure.
- Scale economies
- Spam - see Marketing
- Speaking & Presenting & Negotiating
- Stakeholder (corporate)
- SWOT Analysis ...
- Widget = a placeholder name for an object or, more specifically, a mechanical or other manufactured device = "Widget" is frequently used in texts and speech, especially in the context of economics, to indicate a hypothetical "any-product." Companies in such texts will frequently be given names such as "ABC Widgets" or "Acme Widget Corp." to indicate that the particular business of the hypothetical company is not relevant to the topic of discussion.
- Similar (but not identical) to: doodad, doohickey, whatsit, thingamabob, thingumbob, thingamajig, dingus,Whatchamacallit, da kine
- 15 Brilliant Business Lessons From Moneyball | LinkedIn
- "If you inspire, you are a leader. If you are inspired, you are an entrepreneur." -- Rich Russakoff and Mary Goodman, co-founders of Bottom Line Up Enterprises
- Reasons to Start a Business:
- Technology levels the playing field between you and big business.
- Today, the phrase, "corporate job security" is an oxymoron.
- The Internet provides an unprecedented opportunity to start an online business at minimal cost.
- Like never before, business can be done from home.
- Corporate outsourcing to smaller businesses creates an abundance of opportunities.
- The only person who can boss you around is you!
- Hype Cycle Research Methodology
- Accidental Tech Entrepreneurs Turn Their Hobbies Into Livelihoods | June 30, 2006
- CEDEC | Small Business Support - CEDEC = Community Economic Development and Employability Corporation
- GrowthWheel | Fill out the pre-prepared forms and worksheets and you will have an instant replacement for your business plan. Only available to you once you take the 2-day course. $?
- Sign up for the "GrowthWheel Certification and License for business advisors" 2-day course. $$$?
- Dawson College
- Dummies
- eBusiness, eMarketing, eCommerce...
-
- Elevator Pitch
- EntrepreneurPress.com
- Entrepreneurs
- Failure & Success
- Financing = Funding = raising money
- Five mistakes to avoid when seeking funds for your business
- Inc.com
| Small Business Ideas and Resources for Entrepreneurs | Inc.com
- Intrapreneurship
- Launch your startup in a single day: How the latest tools make it easier than ever - TechRepublic
- MakeUseOf
- Name of your company (Branding)
- Memorable
- Mellow
- Mass Appeal
- Identifies what the company does
- Personality of entrepreneurs
- Proper Cloth: custom-tailored shirts for the GQ set - CBS News video
- SOHO = Small Office Home Office
- Startup Canada | Entrepreneurship Empowers Everyone
- Start-Up Nation Book - The Story of Israel's Economic Miracle
- StartupJournal | The Wall Street Journal Center for Entrepreneurs
- Success
- The Telegraph.co.uk
- Young Entrepreneur Council - Nonprofit Organization for Young Business Founders
- YFS Magazine - Young, Fabulous & Self-Employed - YFSentrepreneur.com
- Consignment Selling
- Freelancing | Outsourcing | Independent contracting | Gig jobs
- Info Entrepreneurs
- GaryVaynerchuk.com - Thanks to Matthew Westernoff for recommending this site.
- GroupEcho Canada - providing credit information and risk management services
- Researching a business or businesses, an industry or industries
- Research do-it-yourself
- Most medical studies are wrong
- The smaller the study the more likely it's wrong.
- The smaller the effect seen in a study, the more likely it's wrong.
- The more variables tested in a study the more likely it's wrong.
- The more flexible designs, definitions, and outcomes are, the more likely it's wrong.
- The greater the financial interest in being right the more likely it's wrong.
- The hotter the field of research, the more likely it's wrong.
- Much of this is stuff your earth science teacher should have told you in junior high school. Narrow the variables. Narrow the scope. Tighten the design so only what you're testing varies. Take your biases out of the equation.
- Patent Searching and Invention Patenting Information - Thanks to James Ryley? for recommending this site.
- Reference Materials & Literature Topics ...
- English Language ...
- PowerPoint ...
- Presenting your Case ...
- Delivering the Speech of Your Life - Dan Pallotta - Harvard Business Review
- Seven Reasons People Aren't Listening to You | Deepak Chopra MD (official) | LinkedIn
- Negotiation
- What not to say in a salary negotiation
- The 10 Worst Things You Can Do In A Negotiation | James Altucher | LinkedIn
- 4 Mistakes To Avoid When Negotiating - OPEN Forum :: American Express OPEN Forum
- 5 Things You Should Never Say While Negotiating : Lifestyle :: American Express OPEN Forum
- The 7 dos and don'ts of effective negotiation
- 7 business negotiation tactics from the FBI | IT Business
- Master the art of negotiation
- Phrases You Should Never Use during a Negotiation - For Dummies
- Win-Win Negotiating - For Dummies
- "The Power of Nice: How to Negotiate So Everyone Wins - Especially You!" - Ronald Shapiro & Mark Jankowski - Wiley & Sons
- Prepare - research, study, stockpile knowledge
- Probe - ask questions
- Propose - try not to go first, but when you do, make a strong, reasonable offer that you are prepared to change
- Listen carefully
- Arbitration
- Arbitration - Wikipedia
* Arbitration can be either voluntary or mandatory (although mandatory arbitration can only come from a statute or from a contract that is voluntarily entered into, where the parties agree to hold all existing or future disputes to arbitration, without necessarily knowing, specifically, what disputes will ever occur) and can be either binding or non-binding. Non-binding arbitration is similar to mediation in that a decision can not be imposed on the parties. However, the principal distinction is that whereas a mediator will try to help the parties find a middle ground on which to compromise, the (non-binding) arbitrator remains totally removed from the settlement process and will only give a determination of liability and, if appropriate, an indication of the quantum of damages payable. By one definition arbitration is binding and so non-binding arbitration is technically not arbitration.
* Arbitration is a proceeding in which a dispute is resolved by an impartial adjudicator whose decision the parties to the dispute have agreed, or legislation has decreed, will be final and binding. There are limited rights of review and appeal of arbitration awards.
* Arbitration is not the same as:
- Mediation
- Mediation - Wikipedia
- Conflict resolution through private and voluntary means, a channel that encourages the parties to be active and central participants in the resolution of their own conflict.
- private dispute resolution
- negotiation between the parties (often assisted by counsel)
- negotiation facilitated by a trained mediator
- adjudication by a private arbitrator
- Mediation, which usually takes a day or two, is certainly much faster (and cheaper) than court proceedings.
- The mediation route allows for a direct engagement that is not possible in a court proceeding.
- Harness the power of Persuasion - PDF
- Body Language
- Body language
- Kinesics
- 15 Body Language Secrets of Successful People
- Synergology
- High-context culture vs. Low-context culture
- How to Tell if You're Not Getting the Whole Truth | AARP
- They fidget nervously. They touch their nose, they pull an ear. It's like a "tell" for a poker player.
- They talk real fast. You almost can't understand what they're saying. It's like they don't really want you to hear them.
- They try to change the subject. It's an attempt to deflect your attention.
- They repeat the question when you know they've heard It loud and clear. "Wait a minute. Let me get this straight. You're seriously asking me .. !' It's a stalling tactic as they try to come up with a convincing response.
- They won't look you In the eye. Or else they will. It helps if you know how the person usually behaves. If they ordinarily look you in the eye but suddenly don't, they're probably not giving you the whole truth. And vice versa.
- It's Not What You Say, It's How You Say It That's Most Important - $$Webinar
- LinkedIn
- Recommended books:
- Joe Navarro - What Every Body Is Saying
- Allan & Barbara Pease - The Definitive Book of Body Language
- Dr. David Craig - LIE Detecting 101: A Comprehensive Course in Spotting Lies and Detecting Deceit.
- The tricks to make yourself effortlessly charming
- Conversation
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