Business Studies: ways to increase profit?
For my controlled assessment the question is to investigate small businesses to find ways of increasing profit. As my secondary/ primary research, can you please give me some information to include in my research. Preferably, the answers to my questionnaire:
What things/ factors affect profit?
Why is profit important?
Any websites that have graphs or pie charts dealing with profit will REALLY HELP! Thank you!
Sale price, cost of goods sold and expenses affect profit. Increase profit by selling more without increasing expenses. Or sell the same amount but for a higher price while holding expenses level. Or sell the same amount but lower expenses. Sales minus cost of goods sold equals gross profit. Gross profit minus expenses equals net profit. So you just have to affect these three thing to affect profit.
Profit is important so that the company shareholders receive a return on their investment whether that be dividends, distributions or realizing a return by selling their shares for more than they paid.
cut costsby kemperk - 1 year ago