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Service Business Costing

Author: Markus B. Baum

Publisher: Springer Science & Business Media

Published: 2012-08-17

Total Pages: 136

ISBN-13: 3834944440

Service firms have high overhead costs which are difficult to assign to individual services. To bring transparency to their value chain, they need costing approaches that help them find their own improvements. Markus B. Baum explores current theory and practice of value chain approaches and cost accounting to develop a costing approach with a suitable instrument for the allocation of fixed and overhead costs for a service firm. He describes the service business costing (SBC) approach. This hybrid-costing model has a hierarchical structure in terms of consolidation and allocates cost and revenues on the lowest hierarchical level possible to ensure that all costs and income are assigned to activities from which they originated.

Winning the Contractor Fight

Author: Tom Reber

Publisher: Contractor Fight

Published: 2021-09-14

Total Pages: 152

ISBN-13: 9781737919100

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"The Contractor Fight" is what HGTV host and best-selling author Tom Reber calls the battle between your ears. We all have stories and experiences that have formed us into who we are. We are what we think, and the battleground is our mind. The Fight is not with the people you think are "cheap customers." It's not with the unlicensed competitors or the "illegals," as many contractors think. The Fight is with yourself. Sadly, most of the struggles contractors have are self-imposed. It's friendly fire. The negative ways we think about ourselves and our worth... friendly fire. The growing debt, working too much, small bank account... friendly fire. Winning the Fight is a choice. You're noble and full of integrity. You bend over backward to serve your family and clients. You have taken it on the chin more times than you can count. Now, it's time to get yours. Earn what you're worth. Create a business that serves you and energizes you, instead of one that beats you down. Choose to own your crap and get better today.

How to Set Prices in a Service Business - A Step by Step Guide to Pricing Your Services

Author: Meir Liraz

Publisher: Independently Published

Published: 2019-03-14

Total Pages: 32

ISBN-13: 9781090502872

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This guide will walk you step by step through all the essential phases of setting optimal prices in a service providing business. You will learn exactly how to set prices in a way that will allow you to make money and still be competitive Here's what's in the book: * Common problems in setting prices and how to overcome them * How to determine your costs * Cost calculation examples * How to set optimal prices * How to raise prices without losing customers * How to calculate hourly and project-based pricing * All these and much more My name is Meir Liraz and I'm the author of this book. According to Dun & Bradstreet, 90% of all business failures analyzed can be traced to poor management. This is backed up by my own experience. In my 31 years as a business coach and consultant to businesses, I've seen practically dozens of business owners fail and go under -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work. And that is where this book can help, it will teach you how to avoid the common traps and mistakes and do everything right the first time.

Fit for Growth

Author: Vinay Couto

Publisher: John Wiley & Sons

Published: 2017-01-10

Total Pages: 296

ISBN-13: 1119268532

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A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States

Costing for the Service Industry

Author: Veda Malagatti

Publisher: Cambridge Scholars Publishing

Published: 2020-08-11

Total Pages: 170

ISBN-13: 1527557952

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A significant and innovative feature of this textbook is its detailed insights into the use of costing methodology for practical implications. It will serve to foster the reader’s analytical and critical thinking skills, and it highlights both traditional and the most current practices of costing methodology using real examples drawn from the service industry. Its methodological focus will allow the reader to understand the introduction of relevant costs, their functions and their behavior towards uses and limitations of cost allocations.

Pricing in a Services Business

Author: United States. Small Business Administration

Publisher:

Published: 1968

Total Pages: 92

ISBN-13:

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Profit costing and pricing for services

Author: James Salvate

Publisher:

Published: 1987

Total Pages: 6

ISBN-13:

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Service Business Development

Author: Thomas Fischer

Publisher: Cambridge University Press

Published: 2012-05-24

Total Pages: 319

ISBN-13: 1107022452

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Over the last decade, capital goods manufacturers have added services to products as a way of responding to eroding margins and the loss of strategic differentiation. Based on over twelve years of research, this book provides a thorough overview of the strategies available for value creation through service business development.

The Service Profit Chain

Author: James L. Heskett

Publisher: Simon and Schuster

Published: 1997-04-10

Total Pages: 345

ISBN-13: 1439108307

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In this pathbreaking book, world-renowned Harvard Business School service firm experts James L. Heskett, W. Earl Sasser, Jr. and Leonard A. Schlesinger reveal that leading companies stay on top by managing the service profit chain. Why are a select few service firms better at what they do -- year in and year out -- than their competitors? For most senior managers, the profusion of anecdotal "service excellence" books fails to address this key question. Based on five years of painstaking research, the authors show how managers at American Express, Southwest Airlines, Banc One, Waste Management, USAA, MBNA, Intuit, British Airways, Taco Bell, Fairfield Inns, Ritz-Carlton Hotel, and the Merry Maids subsidiary of ServiceMaster employ a quantifiable set of relationships that directly links profit and growth to not only customer loyalty and satisfaction, but to employee loyalty, satisfaction, and productivity. The strongest relationships the authors discovered are those between (1) profit and customer loyalty; (2) employee loyalty and customer loyalty; and (3) employee satisfaction and customer satisfaction. Moreover, these relationships are mutually reinforcing; that is, satisfied customers contribute to employee satisfaction and vice versa. Here, finally, is the foundation for a powerful strategic service vision, a model on which any manager can build more focused operations and marketing capabilities. For example, the authors demonstrate how, in Banc One's operating divisions, a direct relationship between customer loyalty measured by the "depth" of a relationship, the number of banking services a customer utilizes, and profitability led the bank to encourage existing customers to further extend the bank services they use. Taco Bell has found that their stores in the top quadrant of customer satisfaction ratings outperform their other stores on all measures. At American Express Travel Services, offices that ticket quickly and accurately are more profitable than those which don't. With hundreds of examples like these, the authors show how to manage the customer-employee "satisfaction mirror" and the customer value equation to achieve a "customer's eye view" of goods and services. They describe how companies in any service industry can (1) measure service profit chain relationships across operating units; (2) communicate the resulting self-appraisal; (3) develop a "balanced scorecard" of performance; (4) develop a recognitions and rewards system tied to established measures; (5) communicate results company-wide; (6) develop an internal "best practice" information exchange; and (7) improve overall service profit chain performance. What difference can service profit chain management make? A lot. Between 1986 and 1995, the common stock prices of the companies studied by the authors increased 147%, nearly twice as fast as the price of the stocks of their closest competitors. The proven success and high-yielding results from these high-achieving companies will make The Service Profit Chain required reading for senior, division, and business unit managers in all service companies, as well as for students of service management.

A PRACTICAL GUIDE TO PRODUCT/SERVICE COSTING & PRICING IN THE BUSINESS WORLD

Author: DICKSON AKAM NTUH

Publisher: Dickson Akam Ntuh

Published: 2024-04-28

Total Pages: 49

ISBN-13:

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In the dynamic world of business, where profitability is the ultimate pursuit, the realms of costing and pricing reign supreme. Like a master symphony conductor, every entrepreneur and manager must skillfully orchestrate the delicate balance between cost and prices to create a harmonious melody of success. Welcome to a journey that explores the intricacies, methodologies, and strategies behind costing and pricing a voyage that will empower you to navigate the jumble of financial decisions with finesse. Within the pages of this book, we delve deep into the captivating world of costing, where we uncover a treasure trove of methods that unravel the enigma of expenses. From traditional methods like absorption costing and job costing to innovative approaches like activity-based costing and target costing, we dissect each technique, unveiling their unique merits and demystifying their complexities. As we unravel the intricate web of cost, you will gain the tools to dissect your organization's expenses, assess their impact, and make informed decisions that elevate your business to new heights. However, cost control alone is not enough to navigate the turbulent seas of modern commerce. It is within the symphony of pricing strategies that the true potential for profitability lies. With meticulous attention, we explore the multifaceted landscape of pricing, where art and science converge to shape the market dynamics. From cost-plus pricing and value-based pricing to skimming and penetration pricing, each strategy is dissected, evaluated, and synthesized to equip you with a formidable arsenal of pricing techniques. By understanding the psychology of pricing, market segmentation, and the impact of competitive forces, you will be empowered to set optimal prices that captivate customers, maximize revenues, and ensure long-term sustainability. Yet, the journey does not stop there. Recognizing the inseparable bond between cost and prices, we explore the nexus between the two a realm where profitability and competitiveness intersect. We embark on a quest for cost reduction, uncovering innovative approaches and strategies that can bolster your bottom line without compromising quality. We unearth the power of lean management, process optimization, strategic sourcing, and supply chain efficiencies, allowing you to shape a leaner and more resilient business ecosystem. Moreover, we delve into the realm of iv price optimization, where strategic discounting, pricing psychology, and revenue management techniques converge to unlock new avenues of growth and profit. Throughout this voyage, we embrace the nuances of various industries, from manufacturing to services, retail to technology, and beyond. Drawing from real-world case studies, industry best practices, and expert insights, we distill the essence of costing and pricing to offer practical guidance that transcends organizational boundaries. Regardless of your sector, whether you are a budding entrepreneur, seasoned manager, or aspiring financial expert, this book aims to equip you with the knowledge and skills to make informed decisions, outmaneuver your competitors, and unleash the true potential of your enterprise. As we embark on this transformative journey through the enchanting landscape of costing and pricing, prepare to unlock a new realm of financial daring. Together, let us cross the intricacies of costing methods, cost reduction strategies, and the art of pricing to plan a symphony of profitability that resonates far beyond the realms of commerce. Welcome to the realm where cost and prices converge a world of strategic decision-making, untapped opportunities, and boundless potential.