Terminology

Economies of Scale

Of the basic business principles, economies of scale has the greatest impact on profitability over any other business principle.   As an enterprise’s investment is spread over higher volume the cost per unit of production […]

Production Control

Up Time – Business Concept

Up Time in business refers to maximizing opportunity to generate profit.  There is one key modifier.  If the marginal costs to generate revenue exceeds the revenue generated, the business is no longer maximizing profit. This […]

Human Resources Management

The Key Man

One of the most misunderstood principles of business deals with the one or few individuals in a small business operation who are critical to operations.  This individual is referred to as the Key Man.  The […]