COMPARE YOUR BUSINESS TO SEE HOW IT MEASURES UP

For instance, by analyzing General Motor's and [Henry] Ford's 10k filings (an expanded, detailed form of their financial statements) in the mid-80s, Chrysler Corp. learned a lot about their product costs and product development costs. That information helped Chrysler formulate a strategy f...

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Bibliographic Details
Published inThe Columbian (Vancouver, Wash.)
Main Author Sherlock, Joseph
Format Newspaper Article
LanguageEnglish
Published Vancouver, Wash Columbian Publishing Company 16.12.1996
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Summary:For instance, by analyzing General Motor's and [Henry] Ford's 10k filings (an expanded, detailed form of their financial statements) in the mid-80s, Chrysler Corp. learned a lot about their product costs and product development costs. That information helped Chrysler formulate a strategy for a new car product. Chrysler can now develop a new model in half the time it takes Ford or GM and do it with two-thirds less development money. That's why you're seeing so many new models from Chrysler these days. Gross profit. If your gross profit is lower than others in your field, it means that either your prices are too low, you're paying too much for your materials or your labor is inefficient. Eighty percent of the time, low prices are the culprit. If you, however, think your material costs might be too high, contact someone who does what you do in another state outside of your trade area. Ask what they pay for materials. If it's close to what you pay, material costs aren't your problem.
ISSN:1043-4151