Bottom Line - Keeping Overheads Low
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30 seconds of business studies gold here - from the inspirational founder of specialist retailer JoJo Maman Bébé - Laura Tension. Laura spoke at the tutor2u Business Teacher conference back in 2006 and she really is a tremendous role model for students.
The question is - what is the most important lesson she has learned in business. Laura’s answer is simple - keep overheads low.
The clip would make a great starter or stimulus piece, and students could then consider some follow up questions. E.g:
- Define what is meant by the term overhead
- Explain how overheads affect the breakeven position of a business
- Identify three major overheads that a retailer like Laura needs to control
- What are the potential disadvantages of trimming overheads to their minimum?
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