We've all been in those conversations when someone pipes up with "we need to ..." - fix blah blah. - change blah blah. Ever notice how it's often the same person? Ever notice how that person does a whole lot of talking about what needs to be changed or be fixed but is seldom doing anything to … [Read more...]
All costs are variable in the long run
One of the things you either learn in business school or in the school of hard knocks is that a business has two kinds of costs: fixed and variable. At least in the short run, that is true. In the long run, a fixed cost can become variable and a variable cost can become fixed. Fixed and Variable … [Read more...]