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Every industry utilizes standards of performance to measure the success of the business operation. All small businesses need to identify their respective standards and create tools to measure performance and compliance. This section teaches the small businessman and entrepreneur techniques used by others to achieve ‘Best Practices’.
Click on the principle group you seek information about and it will take you to a page of different articles related to that subject matter. Please understand that these are business related articles and are in-depth and educational in nature. The primary goal of each article is to educate and provide insight, guidance and knowledge to the small business entrepreneur.
20 Private Industry Sectors – This article illustrates the 20 private industry sectors (contribution value and percentage of the GDP) as identified by the US Department of Commerce.
RESPECTIVE INDUSTRY PAGES:
- UTILITIES – Investment analysis of the electric power generation industry within utitilities
Electric Power Generation Industry
Evaluation and Analysis for Investment Purposes
- CONSTRUCTION – Standards of performance, proper accounting procedures, project management processes, & analysis
- FOOD SERVICE – Variable and fixed costs analysis, policies and procedures, restaurant comparisons, labor and food costing
- HOSPITALITY – The only industry that is total reliant on discretionary dollars. The business principles are unique and often only apply to this single industry.
- RETAIL – There are industry standards associated with the sale of products. Don’t assume it’s the old adage of a 100% markup. It depends on your product line.
- REAL ESTATE – The single most powerful sector of the US economy, real estate is a trillion dollar industry. There are standards of performance and this page provides information about these standards and the industry in general.
- SERVICE – It’s all about customer service. The customer is always right! WRONG!!!! Learn why and the industry standards for service based businesses and organizations.
- TRANSPORTATION – From the taxi to the ocean going cargo vessel, transportation is the backbone of our economy. The key in this industry is to control the fuel costs and gain marginal revenues.