artificial managers, artificial management, managers, artificial leadership, team management automation, artificial intelligence
I continue the example from the previous post about your potential business. How do you find out if the price is set correctly and how many books he needs to sell in a month to make this business profitable? First, you need to decide whether you will invest your money or borrow it from the bank. The cost of the loan over the next year and the sum of interest from the bank deposit can calculate from the formula: A
Continue reading
Author: Florian Wierzchowski When you run a business, you establish relationships with many market participants. You sell products and services, but you also buy them. Sometimes you enter into long-term cooperation contracts that shape complex mutual obligations. Does it matter who you sell to and who you buy from? Is it relevant with whom you enter into cooperation? It’s even very relevant in most cases, and in the next few sentences I’ll explain why. Let’s first assume that your perspective
Continue reading
Imagine that you want to open a bookstore near the university. You’ve already formulated the company’s mission, identified the characteristics of future customers, know the products and how to inform university students about your business. You’ve also discerned how many competing bookstores exist in the area and what assortment they have. Your business plan is almost complete. Now all that’s left to do is to calculate all the expected costs and revenues, and so determine whether the business will actually
Continue reading
A week ago I described what questions a company’s vision statement should answer, and then what a company’s mission statement is – it should contain statements that condition a company’s credibility, at least in theory to be verified by customers or the environment. Today, I will show you 3 principles to follow if you want to formulate a mission statement that you can understand yourself and that will help you in the months or years to come in business. First,
Continue reading
When thinking about a company of several people, you need to answer the question: is it worth it to look for partners who will bring in start-up capital and work for the company, or is it better to start an individual business and hire employees. This is not an easy question, although hiring employees is a big cost for your business. Below I show an example of hiring Anna Kowalska as an assistant in Nowak’s company under various forms of
Continue reading