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Hints and Tips | Inefficiency


Home | Hints and Tips | Inefficiency

Inefficiency

Are you being as efficient as you can be? This question is especially important if you are using a low-price strategy to gain competitive advantage.


It’s important to look at each of your costs – such as labour, material and overhead – and benchmark them against norms in your industry. If your costs are above average, it means you’re not as efficient as your competitors and action is required. For industry benchmark data, consult Industry Canada’s SME Benchmarking Tool (www.sme.ic.gc.ca).




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“I find the Women in Business Initiative like a breath of fresh air. The ladies seem very comfortable with a gathering of their peers and perhaps more willing to speak up on issues of interest or concern to them. The guest speakers and discussion topics we choose for our meetings are of interest to the majority of the women. I wish there had been a group like this years ago. I am grateful to you and CBDC for all the help you’ve given our group in its founding and continued growth.”
- Shelley McKeeman,


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