Business Archives

How Do You Set Sales Targets? Top 3 Factors to Consider

How do you set sales targets that are realistic? What factors should you take into account when setting a sales quota? You set sales targets by considering how much money you need for your own comfort, which and how many customers you will attract, and whether you can deliver that quantity of goods or services to your customers. Each of these factors is important to understand before setting a target. Here are the factors you should consider when setting a target for sales.

Is the Snack Food Industry Declining Due to Diet Pills?

How is the explosive rise of obesity and diabetes weight-loss medications changing Americans’ snacking habits? Will the medications kill the snack food industry? Prescriptions for appetite-suppressing diabetes medications like Ozempic and Wegovy are surging as Americans use the drugs for weight loss. The drugs are altering Americans’ snacking habits—benefiting drugmakers but threatening the snack industry’s bottom line. Here are the two views on whether or not the snack food industry will decline.

Mike Michalowicz’s Business Hierarchy of Needs: Explained

What’s the Business Hierarchy of Needs? How does it work? The Business Hierarchy of Needs is a system for prioritizing tasks in business introduced by business author Mike Michalowicz in Fix This Next. Understanding this system is an advantage for any business owner. Learn how the Business Hierarchy of Needs works and how to use it.

The Fabless Business Model: Prioritizing Design

What is a fabless business model? Do companies benefit from prioritizing design over manufacturing? The fabless business model is a design-centric model wherein a company focuses only on designing products rather than both designing and manufacturing. Digging deeper into the origins of the fabless model, you can see where and how this model has played a role in economic development. Continue reading to learn what makes the fabless model successful.

What Is Conscious Capitalism? Definition and Benefits

What is conscious capitalism? Why is there a need for an improved version of capitalism? In Conscious Capitalism, John Mackey and Rajendra Sisodia explain why they believe free-market capitalism benefits people, despite common critiques of the system. They further explain how conscious capitalism improves on traditional capitalism, addressing those critiques. Continue reading for a breakdown of conscious capitalism and how it benefits businesses.

The Pros and Cons of Dynamic Pricing (& Is It Ethical?)

What is dynamic pricing? Who does dynamic pricing benefit and harm? Dynamic pricing, also known as surge pricing, is spreading across US industries—from flights and rideshares to restaurants, retail, and entertainment. Dynamic pricing can help companies, but it’s also criticized for exploiting consumers, harming lower-income buyers, and eroding customers’ trust. Here’s a look at dynamic pricing pros and cons.

Fix This Next: Book Overview and Key Points

What are the key points in Mike Michalowicz’s Fix This Next book? How does Michalowicz explain business needs? In Fix This Next, Mike Michalowicz introduces the Business Hierarchy of Needs, a take on Maslow’s Hierarchy of Needs applied to business. The ideas in Fix This Next provide a foundation for business owners to understand how to manage their companies. Read more for an overview of Fix This Next, including a detailed explanation of the Business Hierarchy of Needs.

AI Water Consumption Is Getting Out of Hand

How much water does artificial intelligence (AI) use? Is the water consumption manageable, or is it contributing to a crisis? AI systems like ChatGPT are consuming massive amounts of water, straining already stressed water resources. Some experts warn that continued, unfettered AI water use will fuel global water scarcity problems—which are already on track to reach crisis levels by 2030. Here’s a look at AI water consumption, and the possible outcomes.

The Solution to Capitalism: Should We Fix It or Ditch It?

What’s the solution to capitalism? Does capitalism need to be replaced or can it be improved? Capitalism has come under scrutiny in recent years, and while capitalism is theoretically sound, it’s misunderstood and implemented poorly. Thankfully, Conscious Capitalism by John Mackey and Rajendra Sisodia has the solution to capitalism. Here’s how Mackey and Sisodia would fix capitalism with an improved version.

The Chatbot Wars Are On! Who Will Win?

Who will win the chatbot wars? What obstacles do they face? How is the battle to dominate conversational AI evolving? ChatGPT’s popularity has ignited intense competition among tech giants to lead the AI chatbot market. Microsoft, Google, Amazon, and Meta are all rapidly developing conversational AI tools and integrating them into products in hopes of reshaping the search engine, productivity software, and consumer electronics markets. Read below for a background on the chatbot wars and who the players are.