shorter work week

Myths & Misconceptions About Modern Business

shorter work week
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Is money always the main incentive for employees? What do fleet managers do besides worry about delivery times? Is teamwork the most efficient way to handle simple projects?

Those questions and more are the subjects of some of today’s most persistent business-related myths and fallacies. Review the following points to get the real story.

Money is the Prime Motivator for Employees

Most career-minded workers value job security more than any other factor. For generations, media writers and others have assumed that a raise in pay is the unparalleled king of motivating factors for employees all along the corporate hierarchy.

While the notion sounds logical, the reality is that huge numbers of people in companies of all sizes and types place more value on things like promotions, better working conditions, benefits, and short commutes than on raw hourly wages or salary amounts.

Fleet Managers Focus Exclusively on Delivery Deadlines

Deadlines are just one of many responsibilities of transport supervisors. While the typical fleet manager in a transport company deals with deadlines every minute of the day, there are other concerns that compete with the need to deliver shipments on time. They include smog check regulations, FMCSA (Federal Motor Carrier Safety Administration) rules about definitions and licenses, mandatory rest time, anti-idling laws, driver training requirements imposed by states, and dozens more.

Along with daily deliveries, fleet managers must stay abreast of driver safety, vehicle maintenance needs, customer inquiries, fuel efficiency, operating budgets, and multiple legal constraints. FMCSA regulations are a central part of the scenario because they determine which drivers need commercial licenses and which ones don’t. If you oversee a transport fleet, be sure to learn all the pertinent details about the official definition of a commercial vehicle that is utilized for business purposes according to FMCSA rules.

Teams Always Do a Better Job

Teams underperform in certain areas where individuals excel. While most today’s big tech corporations and leaders in many other industry segments use teams as the go-to organizational unit, the practice is a hold-over from a trend that began in the 1980s, when individual effort was cast aside, and group dynamics gained credibility. But teams, like individuals, come with a long list of advantages and disadvantages. That’s why people in leadership roles are reassessing the idea that groups of workers can deliver the best results.

Cutting Prices Boosts the Bottom Line

Lower prices might increase sales, but they don’t necessarily help profits. Many first-time entrepreneurs fall into the pricing trap. While merchants can increase sales by cutting prices, the practice does not always translate directly into higher profits. It’s a math question more than anything else. Assume ABC Corporation changes the price tag on an item from $3 to $2.50 and enjoys an uptick in sales from 100 to 110 units. The organization earns $300 in raw sales income in situation one compared to $275 in situation two. Final profitability depends on no increase in production expenses and a sales increase large enough to offset the lower price. That’s why it pays to calculate estimates before engaging in reductions. Selling more does not always lead to higher income.

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