Articles
Should You Put
Your Family Member
on the Payroll?
Accounting for
Computer Software
Costs
Receiving Employer
Stock from a
Company Plan
Nonqualified Plans
for Top Execs
Sections
Sponsor
Falling
prices and cheaper imports may be good news for consumers. The flip side, according
to many economists, is that many U.S. businesses are experiencing a general loss of
"pricing power."If your business already has been affected--or you think it will be in the future--consider strategies to survive and prosper. Some food for thought:
- In negotiating a long-term contract to supply a product, it could be advantagous to try and lock in your current price for as long as possible.
- If your company is the buyer, making a long-term commitment to purchase materials or products at fixed prices may not be a smart move.
- At some point, your company may be forced to lower prices in order to maintain market share. That means you'll have to cut costs or suffer a hit to your bottom line.