MANAGE SURPLUS IN YOUR FRANCHISE BUSINESS! IS IT POSSIBLE?
Managing surplus in the workplace refers to effectively handling situations where there is an excess of resources, such as employees, inventory, or funds, that may not be immediately needed. This could be due to various reasons, including changes in demand, technological advancements, or shifts in business strategies. Figure 01 Surplus happens when a producer sells items for a higher price than they expected to achieve. For example, if the sale takes place at an auction then the process can generate a bidding war that results in the item fetching a price much higher than the minimum reserve price. Let’s look at another example. You decide to go away for a weekend break and so you need to book a hotel room. You know that normally a room costs £100 a night. But the price when you check has doubled because there is a festival on that weekend and so demand for rooms has shot up. Now the room will cost you £200 a night. The same effect occurs with airline tickets, for example – canny cons