Entrepreneurship and Leadership

  Sales Trend Sales trend is a methodology to understand sales results which helps in understanding the trends of the market over a specific period of time. Sales results are an indicative of the sales patterns followed by the customer over a time period. The time period can be short, average or long. Sales trend can be analyzed by compiling the sales and employment over the time period against the financial reports. Purpose of understanding sales trend: • It compares the company against its peers and therefore analyses the relative position of the company in the industry • The company can do better business by following the trend. • Better understanding of the business facilitates the company to plan its short- and long-term marketing strategies. • Customer retention (to keep having them as customers) Sales trend is usually done by the process of customer segmentation. Customer segmentation is done on the basis of products, sales channels, geographic regions etc. Customer segmenta...

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  Value Added Tax VAT (IVA in Spanish) It is a tax that is charged on the value of local transfers or imports of personal property, in all its stages of commercialization and on the value of the services rendered.  Who has to pay? -         All persons and companies that provide services and / or carry out transfers or imports of goods must pay Value Added Tax (VAT). -         Those who have paid VAT may use it as a tax credit in the cases contemplated in the Internal Tax Regime Law. -         Additionally, the persons and companies designated as withholding agents through current tax regulations, will withhold VAT in cases that warrant. -         This tax is declared and paid monthly when transactions are taxed and / or when VAT is withheld, and semi-annually when transactions are taxed at 0%. What should be paid on? -    ...

  Financial Plan   A financial plan is a comprehensive statement of an individual's long-term objectives for security and well-being and a detailed savings and investing strategy for achieving those objectives. A financial plan may be created independently or with the help of a certified financial planner. In either case, it begins with a thorough evaluation of the individual's current financial state and future expectations. The Fundamentals of Financial Plans Understanding the Financial Plan  Whether you're going it alone or with a financial planner, the first step in the creation of a financial plan involves getting together a lot of bits of paper or, more likely these days, cutting and pasting numbers from various web-based accounts into a document or spreadsheet. The following steps in creating a financial plan may, of course, be completed by an individual or a couple. Calculating Net Worth  You're about to learn your current net worth. List all of the...

  Income and marginal costs Marginal analysis of income and costs allows the entrepreneur to visualize how total income or costs, depending on the case, are affected when it is sold or produced. Marginal revenue is the change in total revenue due to a unit change in the quantity sold, while marginal cost is presented as the change in total cost when there is a variation of one unit in the rate of production. Very close to these definitions are diminishing returns, which guide the entrepreneur to answer questions such as: should it be better to hire more units of a certain factor of production, such as labor, considering the same level of the other current productive factors? According to the law of diminishing returns, when more labor is hired to increase production - holding constant the acquisitions of the other factors of production such as machines, physical space or materials - the marginal effect on the cost of production of a unit additional increases, as people who are hire...

 Unified Basic Salary It is the minimum income that a worker receives as a right to the work performed during a month; It should be noted that this minimum income is adjusted by the Ministry of Labor on an annual basis. For example, for 2016 a basic salary equivalent to US $ 366 has been established. For this year 2021, the basic salary is US $400. Living Salary It is the product of the result of dividing the average value of the basic family basket registered in the year being calculated for the number of family earners established by the National Institute of Statistics and Censuses (INEC). If a worker has received monthly, as total remuneration, which includes basic salary and other social benefits, a value lower than the living wage, the company is obliged to cover that difference with its own funds. Overtime An ordinary worker is obliged to work 8 hours a day, 5 days a week. Although there is the figure of overtime when their collaboration is requested on holidays and weekends...