LAMBELL CORPORATE SERVICES

  According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. Obviously, price has a direct relationship with demand of products and services. One of the key factors buyers consider in their buying decision is the price. There is a link between the price of a product and its value. Buyers expect products sold at a premium to be of high quality and vice versa. The price determines the profit margin a business earns. So, it is very important for businesses to set the right prices for their products and services. Business owners must figure out the price that would attract customers and bring decent margin at the same time. The business is at risk of losing customers if the price is too high, however, a low price could erode the business’ profit margins. The goal is to find the right price point that maximizes sales and profit. There are several pricing strategies depending on what the business se...

  Manufacturers, wholesalers and retailers can testify that inventory is the backbone of their business. Even service companies keep inventory of items they use in delivering their services. In simple terms, inventory refers to store of goods for use or for other purpose. Some companies practice Just-In-Time inventory management. This is a method where goods are received from suppliers only when there is an order. The reason is to reduce the cost of keeping inventory.   Poor inventory management can lead to several problems. It can disrupt business operations and lead to customer dissatisfaction. For example, a company cannot produce when there is shortage of raw materials. Items of inventory can be stolen if management do not pay close attention to inventory levels. Inventory can be damaged if they are not handled properly.   Why keep Inventory   To meet customer demand   This is especially important for retail business. For retailers to stay in b...

  The first figure people look out for on their pay slip is their net salary, also known as take home pay. The net salary is of much interest because that is the amount that will hit the person’s account. Besides this, most people pay little or no attention to the other details of the pay slip, let alone how the net salary was arrived at. If you happen to be one of them, don’t worry; this article is for you. “Why should I care about the other details?” One will ask. First, the worker needs to confirm whether the payroll calculation is done correctly. Imagine receiving wrong salaries for years because there was a mistake in the calculation. Of course, if the mistake results in receiving higher salary for years, I guess it will call for celebration. What about receiving lower salaries for years because of wrong calculation? I can imagine the pains and the anger. Secondly, the employee needs to confirm whether the employer is paying the correct Social Security Contribution on their ...

    One of the miserable things in life is to have no money in your pocket. You cannot go to your favorite restaurant, go to the mall, wear the best clothes, and go for sightseeing when the pocket is empty.  This is true for businesses alike. Without cash, a firm would struggle to survive in business. Cashflow is the lifeline of a business.   Cash is used by individuals and companies to settle debt obligations and operating expenses. For example, a business needs cash to pay taxes, pay employee salaries, purchase inventory, pay for rent etc. Having seen the importance of cash to a business, it is necessary for firms to manage it properly.   Cash is held for transactional, precautionary and speculative reasons. Transactional reasons refer to holding cash to meet payments in the ordinary course of business. Precautionary reasons refer to holding cash to meet unforeseen cash needs. Speculative reasons refer holding cash to take advantage of opportunities as a...

Entrepreneur identifies a problem or a need in the society and seek to find solution to these problems. A business is created in an effort to provide solution to an identified problem or need. The entrepreneur should know why the business exist. This is called the mission of the business. The first step to building a successful business is to understand the purpose of the business. A mission describes the organization’s basic function in society, in terms of products and services it produces for its customers.   A company’s mission might be to promote healthy living. This will serve as a guide in terms of the products and services it will offer to its target customers. Such a company will offer healthy foods and advocate for general wellness and fitness programs.   The mission of Beyond Meat, a Company in the U.S,   is to find better ways of feeding the future. The company is committed to fighting the four growing global issues: human health, climate change, decreas...

  We always dream of a perfect time, opportunity, place etc., to take a particular course of action. But as you should be aware by now, that time may never come. There will always be issues and problems that will not give you the perfect opportunity to take action. Entrepreneur takes action even when all odds are against him. This is because he knows that there will never be a perfect time, and the right time to take action is now. The key is to start with where you are with what you have.   The entrepreneurship journey starts with an idea which has to be acted on. Without action, the business will remain an idea. But it takes action to transform an idea into real business. There are ideas which require a team to make it a reality. In situations like this, you need to convince trusted friends to support and buy into your idea. These friends will bring on board their experiences, resources (both financial and material) technical know etc. Working as a team gives you the s...