It’s common for businesses to follow every cent of income, regardless of the cost, when they go into survival mode during hard economic times. This strategy comes with serious effects and can result in the reduction of margins and loss of profit in the long run, even though it actually tends to bear positive fruits in the short term. Companies should aim to maintain margins while adopting best practices and strategies to grow their business. Although rarely used in a traditional sense, even by top performing organizations, effective pricing is an essential approach to solving the above problem. Pricing has gained ground over the last few years due to a number of factors:
Quantifiable Results: A variety of industries have seen value-adding results from effective pricing strategies
Room for Growth: The value of pricing has only been realized by a small group of organizations
High Returns/Low Associated Cost: Organizations are …
It’s crucial that as an employer you create a happy and motivated workplace. As the saying goes, happy employees are productive employees. By taking these small steps, there are likely to be fewer work-related conflicts and more employee productivity.
Appreciate Your Employees
A lot of managers make the mistake of waiting for annual reviews when judging their employees potential. This long wait for recognition can make the employee inpatient and makes way for negativity which then results in reduced productivity. It’s best to appreciate your employees as often as possible. This will boost work morale and creates a positive work environments making them happy to stay.
An office that is run with a tight work schedule with little to no breaks can be a big mistake and a key factor in making your employees miserable. Whilst it takes guts, promoting a flexible standard of work will result in …
What is POB? This is “Point of Banking, a payment card processing system developed to charge a small convenience fee to the cardholder, which is added to the approved transaction amount. Thanks to such system, retail merchants are given an opportunity to accept card payments for free. The thing is that the mentioned small convenience fee covers the transaction processing costs.
The operation of a POB terminal is similar to that of a standard credit card machine. Only, this type of terminal is loaded with a custom software program. There’s no cash inside. Thus, it’s used only for Personal Identification Number or PIN-based transactions with a small convenience fee charged to the cardholder.
As for customers, they can feel more secure with this type of transaction processing. Why? They keep control over their card and enter their PIN when completing the transaction. POB machines run transactions in whole dollar amounts …