Thinking about starting a business? This strategy is often adopted to attract satisfied customers to lengthen the life cycle of current products or to take advantage of a favourite reputation or brand name. McDonalds is one of the best examples of companies strategising on product development. One way to avoid delay in product or service delivery is to do a detailed risk investigation, analysis and assessment; involving all imaginable aspects of the company’s logistics and supply chain. Companies could simulate real-life business scenarios to identify improvement methods which could serve as a precursor to system troubleshooting to eliminate bottlenecks. Cost leaders tend to share some important characteristics. The ability to charge low prices and still make a profit is challenging. Cost leaders manage to do so by emphasizing efficiency at every step of the value chain: production, manufacturing, sales, and customer service. At Smitty’s Restaurants, for example, customers are served cheap mealsÂ quickly to keep booths available for later customers. As part of the effort to be efficient, most cost leaders spend little on advertising, market research, or research and development. Smitty’s, for example, limits its advertising to billboards along highways, a $2 membership card for 10 percentÂ discounts, and its website. Meanwhile, the simplicity of Smitty’s menu requires little research and development.Â Walmart spent approximately $2.3 billion on advertising in 2013. This is a huge number, but Walmart is so large that its advertising expenses equal just a tiny fraction of its sales. Dance coaching class is among one of the best business ideas. It is low investment creative business idea. You can either hire a dance teacher or plan to become dance teacher by learning dance. Investment requirement for this business is very low. We all know what it is like when that itch to take a vacation hits, and the urge is particularly strong at the moment with us all being in various degrees of quarantine or self-isolation. I find myself starting to plan for the future and hoping that things will return to some sort of normal. But what can you do if your usual partner in crime for cruise-time shenanigans is otherwise indisposed or maybe not quite ready to dive back into the cruising life? You might very well think that the opportunity to soak up the sun in a tropical place is a no-go if you’re solo. Danny, what are you on about? What $hit insurance? That is an American scam, in the UK everybody who is working pays into health care via the government, no insurance companies taking a slice to make their shareholders rich.