Some people believe that business plans are merely guesses made about the future of a business that we know little or nothing about. However, statistics indicate that businesses, activities, and even individual actions have a better chance of succeeding if they start out with a plan. Each business should have a starting point and a […]
In our previous articles, we listed the main reasons behind the deficit being faced by Bahrain’s Social Insurance Organization and we also reviewed the solutions being discussed by the Shura Council and Parliament. In this article, we are going to propose alternatives that could potentially resolve the issues faced by the Pension Fund once […]
Microsoft Planner, where have you been all my life?! Tired of following up on your team to perform their committed tasks despite the constant reminders and follow up emails? Do you find to-do lists, post-it notes, and calendar reminders ineffective? Probably you have an Excel sheet where you keep track of all the tasks […]
Inventory management is so critical if you want to run a profitable restaurant. A restaurant’s profitability is calculated using the cost of goods sold, so it is important that your calculated inventory value be as accurate as possible. This is where the inventory valuation method comes to surface. Choosing the right method can make the process […]
In our previous article, we listed the main reasons behind the deficit being faced by Bahrain’s Social Insurance Organization. We are now going to discuss the remedies being discussed by Parliament and the Shura Council to resolve the issue. In order to put things into perspective, we need to get some figures from the SIO’s […]
So, what is a disaster? A disaster is an event, often unexpected, that seriously disrupts your usual operations, processes and producers, and can have long term impact on your normal way of life or can affect your business. What is Business Continuity Planning (BCP)? Business continuity plan (BCP) is the creation and validation of […]
The success of a manufacturing business primarily depends on the way that the products are costed. There are different kinds of costs involved in a manufacturing organization. Knowledge about the difference between absorption costing and variable costing is essential to do the product costing. Mainly, the costs can be recognized as variable costs and […]
There has been a lot of talk lately regarding the deficit faced by the Social Insurance Organization and the impact that such a deficit will have on the pensions of hard working Bahrainis looking to retire in the near future. Ironically, much of the focus has been directed towards the efficiency of the SIO’s […]
Marginal Analysis: Is an exercise that helps a company make decisions to maximize their profits by comparing the additional benefits and the additional costs generated by increasing their output of the same activity. When Marginal Benefit > Marginal Costs, the company should increase the activity output. When Marginal Benefit < Marginal Costs, the company should cut down on the output. Marginal Revenue (MR): It measures the increase/decrease […]
The Business Model or Canvas, as it is also known, is a tool that helps starting a proper business. It was developed by the Swiss Alex Osterwalder to facilitate the complete understanding of a business. Thus, the model aims to describe all the elements and phases that make up an enterprise, providing the integration of the organization. According to the tool’s creator, the […]