Lead by Example
Are your employees leaders? If you answered "no", you only have yourself to blame.
If you're spending time putting out fires among your employees because you are the
"go to" person, you aren't doing your job. Give your staff the leadership and self-
confidence they need to become effective at problem solving...Seven effective principles
to work towards can be found in this article.
Find out more....
Quick Links...
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Dear Subscriber,
Welcome to "In Black & White", the management update letter from F. H. Black & Company.
"In Black & White" highlights issues, technology and news of interest in those areas
critical to the success of your business and in our areas of expertise.
In this issue you will find valuable information regarding effective ways to handle
employee conflicts, solve inventory issues, as well as new policies regarding Canadian
cheque format standards.
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Deal With Dead Stock
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One quote says it all: “The only two sure things in wholesaling are taxes and dead
stock”. Every distributor purchases inventory that doesn’t sell. But the successful
distributor has a plan for dealing with dead stock items sooner rather than later,
minimizing impact on cash flow and inventory turns. This article plants the seeds
for helping any wholesale distributor deal with dead stock, with suggestions of
where to start and what to do.
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Coming Soon!! New Canadian
Cheque Format Standards
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In 2007, all Canadian financial institutions will switch to using electronic cheque
imaging and as a result new cheque standards have been introduced by the Canadian
Payments Association. Have you considered the impact on your business?
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How Business Intelligent
Are You??
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How accurately and effectively are you able to analyze your business? Often it is
difficult, not to mention time consuming to get more insight from your accounting
system than mere financial statements can provide. Which items, sold in each region
are most profitable? How about least profitable? Weeding through a mass of data
to correlate a meaningful picture of very specific issues is what a breed of software
called Business Intelligence tools do. Jacob Stroller discusses how these tools
help managers identify and monitor their key performance indicators.
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