Ethics

A problem in my life that I would like to solve is financial stress. The major cause of the financial stress is due to the decline in my business income. With the downward turn of the economy, my business sales dropped due to the customer base diminishing Creating a plan to revitalize the business revenue will reduce my financial stress.

I first started by researching topics to increase the bottom line. I tried several different searches with Google and the University of Phoenix’s databases. I found that I got some of the best information from Google. Especially when I went to Google Scholar, it was very similar to the universities web searches. I did receive information from the schools databases after adjusting the search criteria.

When doing a search for “increase bottom line” I received some good results. I received results regarding employees, marketing strategies, and cost cutting. I also received large amounts of information that was not usable. Information that did not pertain to increasing company business or profits was disregarded. As I was checking the search results, I copy and pasted the web addresses of the articles to a word processor document, and the key information that I liked in that article. If I went to an article that had information on a different type of business that did not pertain to mine I also disregarded.

One of the most important areas is regarding employees. Based on past experience within my company, employee payroll and turnover can be a huge expense. Within my research I found an article that backs up the importance of employees and their effect on profits. Keeping an employee happy, getting rid of the non performers and hiring good people can keep profits up and help the bottom line. (Towler, 2003). Employee turnover can hurt the profits of a company greatly. Towler (2003),  “This is very costly since replacing an employee can cost between 25% and 200% of their annual salary.” (Keep...