Cash is like air; profit is like food. You need cash all the time, but you can survive, for a while, without profit. All employees must understand the difference between cash and profit to make the best decisions for your … Read More
Watch Out for the Ludic Fallacy: Don’t Let it Spoil Your Business Simulation Game Experience Written by Nikolai from Income|Outcome Humans have been modeling life with games since at least the First Egyptian Dynasty and have been using what they … Read More
Gross margin is a finance term that seems to be defined differently by every company. Gross Margin Defined Gross margin is gross profit expressed as a percentage of sales. Gross profit is the money earned from a sale minus the … Read More
There are three main pillars of financial reporting. We’ve already discussed income statements and balance sheets. But what is a statement of cash flow? The broad purpose of a statement of cash flow is to show where cash in your business … Read More
Everyone who works makes business decisions. College deans approve faculty. Distribution managers decide on appropriate inventory. Even the teenager cutting grass decides how much to charge. Since they all make business decisions, shouldn’t they understand how business works? A great … Read More
By 1996, Michelin Worldwide was facing an unfamiliar challenge. To better serve the Customer, Michelin needed to align its organization into product lines, something that had been absent up to that point. Previously, critical management decisions were made at corporate … Read More
A board game? How could a game tackle a topic as serious and complex as business finance? You already know that requiring financial training for your employees can feel like pulling teeth. Financial lectures are “boring,” the subject matter is … Read More