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If the price of a product is increased or decreased, this has an impact on demand. The price elasticity of demand indicates how strong this impact is. It shows whether the demand for a product or service is elastic (fluctuating) or inelastic (stable) when the price changes. We…
Which products should your company focus on, and which are economically unviable? The contribution margin provides answers to this crucial question and allows you to draw conclusions about your company’s profit or loss. An accurate calculation of contribution margins is crucial…
Expecting a baby? UK employees get up to 52 weeks of maternity leave and may qualify for paid maternity leave or Maternity Allowance. But what about maternity leave and holidays—do you still accrue holiday pay? And what if you’re self-employed or on a zero-hours contract? This…
Do you want to bring a new product onto the market or offer a service that’s in demand? Then you first have to calculate the sales price. Doing this involves many factors. All conceivable costs as well as your profit margin must be incorporated into the price calculation. What…
To accurately assess a company and compare it with others, suitable key figures are essential. While year-end profit may seem like a straightforward metric, it isn’t always the best fit for every situation. Business analysts and economists often rely on alternative benchmarks.…
An investment is only a good investment when it is profitable. You can determine the return on invested capital by utilising – among other methods – return on investment (ROI), one of the core indicators for business administration. We’ll explain the meaning of ROI, how it stands…
A little friendliness goes a long way! Sending a polite post-interview thank-you email can leave a lasting positive impression on the recruiter or potential employer. A concise and friendly email not only shows professionalism but also gives you a competitive advantage – as long…
In contrast to direct costs, overheads such as factory rental costs cannot be directly assigned to a product or service. Instead, you must calculate the overhead rate to determine the appropriate percentage of overhead costs and, subsequently, the total expenses which result from…
When is it actually worth asking about the status of your application? And what’s the best way to phrase it? Depending on the employer and the application deadline, the right time to send a follow-up email after a job application may vary. In this article, we explain everything…
Rawpixel.comShutterstockGoogle Workspace or Microsoft 365? Both providers offer businesses a cloud platform equipped with office and collaboration tools. With similar pricing, companies looking to centralise their work processes using cloud-based apps face a tough choice. In this article, we’ll take a…