Brand Positioning

Monday, October 26, 2009

Product positioning is an important strategy for achieving differential advantage. Positioning reflects the "place" a product occupies in a market or segment. A successful position has characteristics that are both differentiating and important to consumers. Every product has some sort of position — whether intended or not. Positions are based upon consumer perceptions, which may or may not reflect reality. A position is effectively built by communicating a consistent message to consumers about the product and where it fits into the market — through advertising, brand name, and packaging. Positioning is inextricably linked with market segmentation. You can’t define a good position until you have divided the market into unique segments and selected your target segments. Three key research issues must be addressed:

What is your current position?

	What does the "space" look like — what are the most important dimensions in the category?
	What are the other products in that space and where are they?
	What are the gaps, unfilled positions or "holes" in the category?
	Which dimensions are most important?
	How do these attitudes differ by market segment?

What position do you want to have?

Some of the positioning opportunities for a product include:

	Finding an unmet consumer need — or at least one that’s not being adequately met now by competition
	Identifying a product strength that is both unique & important
	Determining how to correct a product weakness and thereby enhance a product’s appeal. (e.g., legitimate "new & improved")
	Changing consumer usage patterns to include different or additional uses for the product
	Identifying market segments, which represent the best targets for a product

How do you create a new positioning?

Creating a new positioning can come from two sources:

	Physical product differences
	Communications — finding a memorable and meaningful way to describe the product (e.g., calling 7-Up the "Uncola"). As Ries and Trout point out, "Positioning is not what you do to a product; positioning is what you do to the mind of the prospect."

Source : www.s-m-a-r-t.com

Competitive Positioning

What sets your product, service and company apart from your competitors? What value do you provide and how is it different than the alternatives?

Competitive positioning is about defining how you’ll “differentiate” your offering and create value for your market. It’s about carving out a spot in the competitive landscape and focusing your company to deliver on that strategy. A good strategy includes

• Market profile: size, competitors, stage of growth
• Customer segments: groups of prospects with similar wants & needs
• Competitive analysis: strengths, weaknesses, opportunities and threats in the landscape
• Positioning strategy: how you’ll position your offering to focus on opportunities in the market
• Value proposition: the type of value you’ll deliver to the market

When your market clearly sees how your offering is different than that of your competition, it’s easier to generate new prospects and guide them to buy. Without differentiation, it takes more time and money to show prospects why they should choose you; as a result, you often end up competing on price – a tough position to sustain over the long term.

One of the key elements of your positioning strategy is....

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Internet Marketing Strategies

Monday, September 28, 2009

Along with the numerous types of online businesses that are currently available today, there are also many different Internet marketing strategies. Some people are confident enough in their own internet savvy to develop programs and design their own pages. Others lean on other already established businesses to get them set up with their own home based business. Whether your strategies are you own or someone else's, finding the right one for you can mean the difference between being a great success or an instant failure.

One of the most common strategies is to get your business ranked at the top in major search engines. Advertising with articles that are search engine optimized with keywords relating to your business will bring more customers in that are interested in what you have to sell specifically. To be successful with this marketing, you have to practice good techniques consistently that will bring customers to your web site.

Another of the frequently used internet marketing strategies is marketing through e-mail. Articles that are written for e-mail, or e-zine articles, must be written under specific guidelines and you will see every time you check your e-mail that this is a very popular way to get noticed. One of the drawbacks of this technique is that it doesn't normally pinpoint customers who are interested in your product. You may be sending a ninety-year-old woman an advertisement for a breakthrough in birth control and chances are that you aren't going to get a new customer.

Affiliate marketing is growing more popular and is usually one of the more successful internet marketing strategies. This is when you advertise one business through another to bring customers in to yours. For example, if you go onto a site that is for office equipment looking for a printer, there may be a button where you can go to a link for paper and ink cartridges for your printer. You can purchase your ink cartridge through an affiliated company and the office supply company makes a profit either for every customer that links to the ink cartridge site or for every one that makes a purchase, depending on the individual setup. The reason this is a good marketing strategy is that the customers who go to the ink cartridge site are already interested in your product, not something else unrelated.

One of the most successful internet marketing strategies is to start your own web production plan, create an effective web design and development system, and promote your own system for profit. Of course, it is not possible to know before you get started if your system will bring you a lot of success or go completely unnoticed. Until you have set up your own internet marketing strategies and gotten them out there, there's no telling how people are going to respond. Plans or systems that show people how to be successful with their own home-based business are often successful, but they usually require you to be successful enough to validate that your system can work and that your internet marketing strategies are sound.

Source : articlesbase.com

What You Can Measure, You Can Manage

Monday, September 21, 2009

Bill was a painting contractor. Most of his contracts were with repeat customers, some of whom had done business with his father. The business had thrived under Bill, enabling him to invest in a motel, a restaurant, real estate and other businesses.
The Problembr
Suddenly, Bill encountered a big problem. He signed a contract to repaint a large motel. The foreman was a steady fellow who'd been with Bills firm for 20 years, but the job was falling behind schedule. As the weeks progressed, other problems arose that put the job even further behind. Now Bill was facing penalties for not finishing on time. He was watching his profits tick away on the clock..
The Solutionbr
Bill, his foreman and I met for breakfast to review the situation. I suggested a contest, with incentives where needed, and advised them to split the crew into two teams. We divided the remaining work in two equal lists of areas to paint and things to do. We calculated the time it would take to complete a quality job on budget and with a profit. Bill announced to the two crews that the goal was to finish their respective tasks in the allotted time, adding that any time saved under the allotted time would be a bonus-paid time off. As a kicker, the team finishing first would get a case of beer.
The Resultbr
The whole motel project finished two days ahead of schedule and the crews won two paid days off. They all experienced the satisfaction of a job well done. Bill met the contract terms and made a profit - his reward. Bill hated to lose money on a contract. As he was fond of saying, "Its ok to be tired and it's ok to be broke, but being both broke and tired is stupid!"
Commentary
Management frequently has financial benchmarks for progress or pofitability of small business but they rarely share them with the team. By using non-financial measures and by breaking down the goal into easily identifiable subunits and extending a challenge and a reward on top of wages, the pride and initiative of the team were engaged and everyone came out ahead. Profit is not a particularly good interim measure of progress. Physical units of measurement allow team members to keep track of progress for themselves. Then they can manage themselves. Leadership Development of Small Business, What you can measure, you can manage.

Source : articlesbase.com

Entrepreneurship Is About Seizing Business Opportunities

Innovation is one of the major driving forces that lead to personal financial freedom. If today you were to find a way to touch people's lives, you'll definitely get inside their wallets. Business opportunities are all around us but it's only those who are observant and alert seize these chances to make money.

Today allow me to write about the art of entrepreneurship. It involves the skills of generating a business idea

and turning it into a business opportunity. Besides being self employed, generating a business idea is the very first step in becoming financially independent. It may involve listening to what people say and identifying an unsatisfied need then taking initiative to start a business and fulfilling that need.

Entrepreneurship is accepting investment risks and seizing a business opportunity to implement a prospective business idea. This is based on a business owner seeing the possibility of success in a particular project. In simple terms, it's a chance which can be exploited by selling a product or service at a profit.

Carefully observe your neighborhood and you'll identify a business opportunity. With the current economic hardship, people must seek to start up their own small business to supplement their income. Then from there set up sound management systems to ensure that these businesses prosper.

It is also advisable not to stick with one income stream, but have several income channels. There are good and legitimate online businesses that one can invest in as part time. So don't depend entirely on employment but instead have a fall back plan just incase.

Source : articlesbase.com

Professional Business Plans

Sunday, September 6, 2009

You know you need a business plan. You probably realize that it is one of the best ways to get your business up and running. No matter what your business is, a business plan can help to focus its direction while providing the information you need to get moving. The most important thing a business plan will do is to provide your financial backers with a reason to give you their approval. It will show them how you plan to work your business.

So, how will you know what to write in your business plan? Do you know the first thing about writing a business plan? It may seem like an overwhelming task to try to figure out what to write for your personal business plan. You may have attempted to take out a few books at the library or even asked a friend to help you. But, are you satisfied that your business plan will be successful? Remember, you only get one chance to WOW people, so the first business plan they see will be the one they remember. What if it’s just not good enough?

Okay, that’s enough worrying! It is time to act! Your first order of business is to decide what your business goals are. Once you have a basic idea of what you need, you can then do several things to determine what type of business plan you need as well as where to get it. One of the best things you can do when in need of a business plan is to hire a qualified, experienced business plan service.

Not only will you obtain the best professional business plan available, but you won’t have to struggle over the words yourself. Now, how much better can that be? Using sample business plans from their website, you can see just how well their products can fit your needs. Sample business plans can be a great way to visualize the finished product. Using a sample business plan as a guide, you can determine if the product will fit your needs and plans. If not, perhaps you can see what is missing in your point of view.

Having a professional business plan will make all the difference during that trip to the bank. The trip to see if you qualify for funding is enough to worry about. Having a well thought out, professional business plan can give you the comfort and security you will need. The first impression you give the lender will be one of professionalism, attention to detail, and organization. That alone will help them realize that your business is worth the risk. What’s more is that there is just no real reason to not have a professional business plan. They are relatively inexpensive and pay for themselves when you secure that loan. Making a smart business choice begins with your business plan!

Source : articlesfactory.com

Writing an MLM Business Plan

When considering whether or not to start a MLM business, first you need to write an MLM business plan. This will put a lot of things into perspective. An MLM business plan helps to put your ideas into action by defining what your business will be, what will be your goals, and how you plan to execute your business. Various parts of an MLM business plan include a balance sheet and a pro forma (projected) income statement.

If you plan on obtaining financing for your MLM business, an MLM business plan is a necessity. Investors will want to know how you plan to use their money you plan to borrow. Also, your future suppliers will be impressed if you have a written business plan to show them when applying for lines of credit with them. If you have planned out what materials you will need to start up the business, your MLM business plan only puts in all on paper to serve as a guide to remind you of your original idea.

A well written MLM business plan will help communicate not only with your future creditors, it lays a blueprint on how you are going to manage your business. Set out your management goals and procedures first; this way you will have a guide on fall back on when time starts crunching. Your business’ marketing and advertising strategies should also be in your business plan.

Consider these five points when writing your MLM business plan

• Define exactly what your business will do. Will it sell products or deliver services? Who are your main customers? Businesses or consumers?
• Identify your target market. What separates them from the general public? Then determine what separates your business from your competition in meeting their needs.
• Do you have enough money to execute your MLM business plan? Estimate revenues versus expenses. How long will it be before your business is profitable? Doing your homework on the front end can reap dividends later.
• How are you going to draw customers to your business? How do you plan to advertise? Having a strong marketing portion in your MLM business plan will help interest investors in your business.
• How long will it be before you turn a profit? Making good sound estimates of expenses, profits and losses will help on the road to success.

Source : articlesfactory.com

Secrets of Successful Teams

Wednesday, February 18, 2009

To be a success is not always to be a success individually. In fact, most of the time we achieve our successes as part of a team. That is why I want to devote this issue to the secrets of successful team.

We are all part of teams. Our family is a team. Our place of work is a team. The community groups we belong to are teams. Sometimes we are the team leader or "coach," while other times we fulfill the role of follower, or "player." It is so important then for us to understand teams and how they work, especially those who achieve success - the achievement of their desired goal.

In my life I have been on some successful teams, and some not so successful teams. This includes both athletically as well as professionally. When I was growing up, I worked for seven years with the Seattle Supersonics, our local National Basketball Association team. They were at times unsuccessful, and, in 1979, my second year working there, the most successful team in the league, winning the World Championship. I have been able to see firsthand what makes the difference between the unsuccessful teams and the successful ones.

Here are some principles that I know, when implemented on a regular basis, can turn any lackluster team into an outstanding one! These principles can be applied to your family, your business, your organization, and yes, your sports team. Enjoy.

1. Communication/Leader

The leader needs to communicate the vision. If they are setting the pace, they need to let people know where they are going so that the team can follow. The coach always does a pre-game talk, laying out the vision.

The leader communicates the vision frequently, so as to always be updating the team as to where they are at and what changes need to be made. The coach doesn't relegate the direction he gives to the pre-game, he coaches and communicates all the way through the game.

2. Team

Watch a good basketball team. They are talking to each other all of the time. Helping one another out, encouraging one another, praising one another, and telling each other how they can make changes so the same mistakes aren't made again. The same is true of successful teams in the professional world and in life in general.

3. Excellence

The truly great teams are teams that are committed to excellence. In everything they do, their goal is to achieve at the highest level. And this commitment is held throughout the team and at every level. A successful team cannot have members who are not committed to excellence because in the end they will become the weak link.

4. Followership

If you want a fascinating read, pick up The Power of Followership, by Robert Kelley. The author basically makes the point that the secret to getting things done lies not only in great leadership, but in how well the rest of the people, 99% of the team, follows the leadership. Good teams are filled with people who are committed to following and getting the job done.

5. Understanding Roles

Pardon the Chicago Bulls analogy, but it is so clear. When the game was on the line, with only one shot left, everyone, the coaches, the players, the 20,000 people watching in the stadium, and millions watching on TV, knew who would shoot the last shot. That was Michael Jordan's role.

Every team works best when the members of the team have clearly defined and understood roles. Some do one thing, others do another. One isn't better or more important than the other, just different. When teams operate out of their strengths and their roles, they win.

6. Strengths and Weaknesses

This brings me to strengths and weaknesses. Every team member has strengths and weaknesses. The successful teams are those who on a regular and consistent basis enable the members to operate out of their strengths and not out of their weaknesses. And what is one person's strengths will cover another's weakness. This is teamwork, enabling all of the bases to be covered.

7. Fun

The team that plays together stays together. Is your team all work and no play? If you're smart, that will change. Get your team out of the office once a month and go have some fun. Enjoy one another. Enjoy life. It will bring a sense of bonding that can't be made even in "winning."

8. Common Goals and Vision

I have found that these need to have three aspects. Short, simple and clear.
Can you say it in less than 30 seconds? Is it simple? Can you and others understand it? Does the team all know what they are working together for?

9. Appreciation

All through the "game," successful teams appreciate one another and show it in a variety of ways. The coach shows it to the players, the players show it to the coach, and the players show it to one another

source : www.sourceofarticles.com

Building a Successful Team

Once you've set a goal for yourself as a leader - whether it is to create your own enterprise, energize your organization, build a church, or excel in sports - the challenge is to find good people to help you accomplish that goal. Gathering a successful team of people is not only helpful, it's necessary.

So to guide you in this daunting task of picking the right people, I'm going to share with you a four-part checklist.

Number One: Check each candidate's history. Seek out available information regarding the individual's qualifications to do the job. That's the most obvious step.

Number Two: Check the person's interest level. If they are interested, they are probably a good prospect. Sometimes people can fake their interest, but if you've been a leader for a while, you will be a capable judge of whether somebody is merely pretending. Arrange face-to-face conversation, and try to gauge his or her sincerity to the best of your ability. You won't hit the bull's-eye every time, but you can get pretty good at spotting what I call true interest.

Number Three: Check the prospect's responses. A response tells you a lot about someone's integrity, character, and skills. Listen for responses like these: "You want me to get there that early?" "You want me to stay that late?" "The break is only ten minutes?" "I'll have to work two evenings a week and Saturdays?" You can't ignore these clues. A person's responses are a good indication of his or her character and of how hard he or she will work. Our attitudes reflect our inner selves, so even if we can fool others for a while, eventually, our true selves will emerge.

And Number Four: Check results. The name of the game is results. How else can we effectively judge an individual's performance? The final judge must be results.

There are two types of results to look for. The first is activity results. Specific results are a reflection of an individual's productivity. Sometimes we don't ask for this type of result right away, but it's pretty easy to check activity. If you work for a sales organization and you've asked your new salesman, John, to make ten calls in the first week, it's simple to check his results on Friday. You say, "John, how many calls did you make?" John says, "Well..." and starts telling a story, making an excuse. You respond, "John, I just need a number from one to ten." If his results that first week are not good, it is a definite sign. You might try another week, but if that lack of precise activity continues, you'll soon realize that John isn't capable of becoming a member of your team.

The second area you need to monitor is productivity. The ultimate test of a quality team is measurable progress in a reasonable amount of time. And here's one of the skills of leadership: be up front with your team as to what you expect them to produce. Don't let the surprises come later.

When you're following this four-part checklist, your instincts obviously play a major role. And your instincts will improve every time you go through the process. Remember, building a good team will be one of your most challenging tasks as a leader. It will reap you multiple rewards for a long time to come.

source : http://www.sourceofarticles.com

The Top Ten Methods to Create a Successful Work Team

Teams are often useful in situations where the task cannot be completed individually or if the task requires working interdependently. However, a successful team requires thought and planning. Too often, a group of individuals is simply thrown together, given a mandate, "marching orders" and then told, "Now go make us proud!"

To create an effective work team, defined outcomes, common goals and correct skills are keys to success. Here are ten methods to create a successful work team.

1. Create a common, shared (team) goal.

There must be a central focus that the team is moving towards and it must also include a strong task orientation that translates into each person knowing how to move towards that goal.

2. Have measurable outcomes.

Team execution is usually more effective if you can measure what the team produces. Standards of excellence should be established so that the team understands what the target is and ongoing measurement (milestones) towards the desired outcome should also be implemented.

3. Promote interdependency.

Each person needs to know what he or she is going to contribute and also how what they contribute fits into the "big picture". Discourage personal (individual) competition in favor of the team's agenda and purpose.

4. Help the team to understand and appreciate differences.

Teamwork is an individual skill and each individual brings unique talent, value, communication needs, strengths and limitations to the team. Building an effective, unified team requires each person first understands their own "style" and is then able to recognize and appreciate the "styles" of others.

5. Make sure team members have the right skills.

Technical (hard) skills as well as interpersonal, problem solving (soft) skills are equally important to the team's success. Don't neglect one for the other. Discover where the needs are and then provide the right training to meet those skill needs.

6. Train and then follow up on training.

Long-term retention of newly learned training skills requires ongoing coaching and assistance from immediate supervisors and coaches. Frequent inquiries into how recently trained team members are progressing and feedback will help them continue practicing what they have learned.

7. Spell out lines of communication.

It's important to know how to communicate with one another as well as the "flow" of communication.

8. Continually stress the team's purpose.

It may seem simplistic, but frequently reminding team members of the "what" and the "why" is critical to ensuring the vision and mission stay fresh and that the team remains focused on the desired outcome. Revisit the team's mission as well as the desired outcome often.

9. Provide detailed agendas for team meetings.

Meetings are not always the most effective or efficient use of the team's time, but if a meeting is necessary, make sure it is structured so that the time is well spent. Outcome agendas are particularly effective. More than simply a list of items to be discussed, these will spell out exactly what outcomes will occur during and following the meeting.

10. Be a model.

People will respond according to the actions - not the words of their leaders. If you want effective teamwork, model it first and foremost. Performance advisor and author, Darcy Hitchcock, puts it this way: "employees are professional 'boss watchers'. That is, what managers say means nothing unless their actions model what they say." Leading is the act of influencing others to act, which is difficult if you have one set of standards for yourself and another for everybody else.

source : http://www.sourceofarticles.com

Product Launches

Tuesday, January 13, 2009

Developing and finalizing a new product is the first step to a successful business future. After the product is complete, it must be prepared for a product launch. This may be the most important timeframe for placing a new product on the market. Planning for the product launch may be stressful and overwhelming.

Developing and finalizing a new product is the first step to a successful business future. After the product is complete, it must be prepared for a product launch. This may be the most important timeframe for placing a new product on the market. Planning for the product launch may be stressful and overwhelming. It takes time to organize the launch, prepare a launch conference, or an exhibition. This process is chaotic at times, but is essential to ensure the product is launched and is presented to the public. The process of preparing for the product launch is referred to as learning to fly. By keeping up morale and enthusiasm, the product launch will be more successful. When staff, customers, and product reviewers experience your enthusiasm, it motivates them as buyers or advertisers to purchase or promote the product being launched. There are many methods to use when launching a product. Many products are launched in a conference setting, meetings, seminars, and team building events. Conventions are a popular means when launching a product, and conventions held at well-known hotels and centres have been known to be more successful simply because of the venue. Choosing a launch venue and method will be an important key in successfully launching a new product. The idea is to draw a crowd or audience to the launch. The better known the venue is, the more people will attend.

When the product is ready to be launched, planning the conference or exhibition is an important step. Traditional launch conferences have been known to be unexciting. When launching a new product using a convention, look into employing an interactive conference. This way, the audience is more involved in the actual launch. An interactive conference will allow participation and will increase interest in the product being launched. An interactive conference is inexpensive to plan, and it is a perfect method to promote the product and leave the audience with a complete understanding of what is being presented.

Trade shows are an inexpensive way to launch the new product. Most trade shows are themed, and all products being launched are in a related category. While this method is extremely popular, it may not be the right choice. Choosing the method in which to launch the product depends on the product itself. If it is a new and top of the line invention or creation, a trade show may prove to be successful. Since trade shows launch similar products at the same time, it is important to consider the possibility of another product launch that is comparable to your own. Having a unique product will ensure the success of the launch at a trade show or any other venue. Trade shows are scheduled more frequently than conventions and launch conferences, which is why they are so popular. It may be worth waiting for the next available convention or conference, if you do not have a product that will steal the show.

When planning the product launch, take some time to do market research. This research will allow you to learn what other products are being launched, the methods being used for the launch, and reviews of the product. It is important to have as much information on the competitor as possible. Product launches are very competitive, especially when similar products are being launched at the same time and at the same venue. Doing the extra research will inform you of other launching methods and will keep you informed as to what new product launches have been successful and why. Gaining this information will be important to the product launch as well as the rest of the company. By knowing what products competitors, are launching, you will have an advantage in your business and can apply the knowledge gained to better the company and keep up with the competition. It is imperative to acquire the correct information when conducting any type of market research. Misinformation may lead to losses within the company as well as a failed product launch.

Business seminars are a great place to launch a new product. The audience at a seminar or training session are already interested in the company and will be more accepting to new ideas and products. Seminars have a high success rate when used as a method of product launching. Regardless of which method is chosen to launch the product, always keep in mind that the competition is watching. Make sure that your techniques, methods, and ideas used during the launch do not fall into the hands of a competitor. This may be used against the company in future product launches and may result in loss of business or failed launches. Having a unique and top of the line product is a large factor in the success of the product. Take extra time to review options when planning a launch. Choosing the correct venue is very important. Be sure that the venue chosen will complement the product being launched. A common product that has been improved will not fare well at a trade show, but may be a success at a conference or convention. A new and unique product will sit in the limelight at a trade show, but may have more competition at conferences where other companies are promoting their innovative ideas.

Source: Free Articles from ArticlesFactory.com

Development And Testing of Systems

Friday, January 9, 2009

Testing is an activity in which users -– called testers -– compare the functioning of a product or system with the described features and requirements.

There are a variety of systems that are used within organizations. A personal computer is a system with limited functionality. Office-ware could be seen as a system to produce documents. A Client Relationship Management (CRM) system is an example of a more official and more profound system. And all these systems are built at one moment in time. After they are built (or during the production) they should be tested on errors, before they are to be used (sold).Testing of systems is quite an extended area.
There are many ways in which a system could be checked for errors. Black-box testing for example is a way in which a system is examined without "looking under the hood;" you check the output of the system without the knowledge of the system itself.There are at least two phases of testing; during the development of the system or product (a test by developers) and one during the time the system is prepared for production (a test by end-users).

Although essential, testing is an activity that is not always highly valued (especially by developers). Developers and testers have a different view on the same system. For the developer the system is finished when 95% of the functionality is solid, the tester is looking for those small number (5% or less) of the cases in which the system is not working properly. The exceptions.Testing will increase the overall quality of the product, but must be planned.

To increase the harmony between both teams (developer and tester) you should try to plan the test activities as early as possible during the development of the system. Integrate them with the development of the system.

Article Source: http://EzineArticles.com/?expert=Hans_Bool

Internal Control System - Structured Way to Manage Business(2)

Responsive internal control system helps in achieving business objective, increased market capitalization, effective utilization of corporate resources, fewer unforeseen threats associated with fraud, and effective management of change. But on the flip side, excessive internal control system may forced to increased bureaucracy, complexity, cycle time and no value addition in processes. This may result in reduced productivity. But to avoid the risks such fraud, public scandal, poor business direction, noncompliance with community standard existence of structured internal control system is necessary. In order to accomplish balance between risks and control, Internal control system should be proactive, value added, cost effective and addresses exposure to risk but it should not seen as burden on processes and it should aim at minimizing potential losses arising out of unwanted events.

Mitusbishi Coporation has build a effective internal control system to ensure business activities are conducted properly and conformity with laws and its Articles of incorporation. President defines basic management polices and sets of management goals. At the same time, he formulates the management plans and regularly follows up on progress in achieving target efficiently. Organization chain of command is clearly defined and delegation of authority is properly planed to accomplish targets. These staff must submit reports regularly. To incorporate statutory compliance requirement. Mitsubishi Corporation has established a cross organizational framework headed by Chief Compliance Officer. It also established a alert system, which tracks major non compliance activities in business process. To handle risk associated with business processes, MC has designated categories of risk and established sections responsible for each category. This resulted in law complied financial reporting and carrying out proper business in Group in Management

Article Source: http://EzineArticles.com/?expert=Dr._Rakesh_Ainapur

Internal Control System - Structured Way to Manage Business(1)

In the past Internal Control was part of the functions of Internal Audit and Accounting Managers. Today, CEO and Financial controllers have to confirm that the appropriate internal control is in place. In the beginning of this millennium corporate business world witnessed multi-million business scandals from big houses like Enron, Andersen, Quest, Tyco, Global Crossing. Since then the need of proper internal control framework for pubic limited companies is increased. When corporate houses are growing faster, with huge operation across globe, demands the need of robust control system in place to promote ethical business practice. .Managing business process with internal control mechanism helps in brings improvement in process and facilitate for quicker response time. Internal control software from Oracle, SAP and many other players are gaining importance. Post Sarbanes-Oxley act, in US there is a huge demand for these applications.

Many authors and authorities have defined internal control in their own way. One of the widely accepted meaning of internal control is, according to The committee of Sponsoring Organisations of Tradeway Commission(Popularly known as COSO), Internal control is one of the main tool to curb the risks associated with unwanted business acts. Internal control is broadly defined as a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:

• Effectiveness and efficiency of operations.

• Reliability of financial reporting.

• Compliance with applicable laws and regulations.

According to Turnbull, An effective internal control must in include the policies, processes, tasks behaviours and other aspects of a company that taken together to facilitate efficient operation, ensure the quality of internal and external reporting, Safeguarding the assets from inappropriate use, ensure compliance with law and regulation. Thus, internal control should be embedded with company's policy and it should form a part of culture. To implement responsive internal control environment following points need to be considered.

1) Senior Management must accept higher degree of responsibility for internal control

2) Proper Delegation of power should be defined.

3) Clear training program on monitoring internal control system

4) Periodic review of internal control system and taking necessary action to avoid system deficiencies

5) Proper alert mechanism to tackle exceptional business processes.

Contued in part 2

Six Important Managerial Skills For Successful Leadership

A mark of a good leader is to be able to provide consistent motivation to his team encouraging them to attain excellence and quality in their performance. A good leader is always looking for ways to improve production and standards. Here are six management skills you can develop as a leader in working to create a quality effective team.

1. Observation

This is an important aspect that often gets neglected due the demands on a leader’s time and schedule. Observation and regular visits to the work environment are a priority and should be scheduled into the calendar. Observing employees at work, the procedures, interaction and work flow is foundational to implementing adjustments to improve results. To have credibility, a leader needs to be seen and be known to be up to date with what is happening in the work place.

2. Monitor Employee Performance

Employee performance needs to be monitored in mutually accepted ways. Policies and procedures need to be clear. Conferencing should be on a regular basis and not just when there is a problem. Assessments and evaluations should not be merely all formality or viewed a necessary paperwork to be done and filed away. Individual and group conferencing should be undertaken not only to monitor performance, but with the expectation of on going professional development and support. There should be frequent encouragement and clear criteria for on going goals both for the group and individual.

3. Implementation of Professional Development Programs

A good leader evaluates weaknesses and provides training and development strategies to strengthen the weaker skills in the team.

4. Demonstrates Working Knowledge and Expertise

Good leadership comes from a place of strong knowledge and experience of the production and process leading to results. If a leader does not possess all the expertise and knowledge personally, then regular consultations with experts involved in the departments should be held. This is important in order to maintain an accurate and informed overall picture.

5. Good Decision Making

Good leadership is characterized by the ability to make good decisions. A leader considers all the different factors before making a decision. Clear firm decisions, combined with the willingness and flexibility to adapt and adjust decisions when necessary, create confidence in the leadership.

6. Ability to Conduct and Evaluate Research

On going review and research is vital in order to keep on the cutting edge in business. While managing the present to ensure on going excellence in product and performance, a good leader is also able to look towards the future. Conducting and evaluating research is an important way of planning and being prepared for the future.

Excellent leadership is always pro active rather than reactive. By developing these six managerial skills builds a solid foundation for success.

Article Source: http://EzineArticles.com/?expert=Barbara_White

Leadership As a Corporate Value

Some values are more focused on the internal organization, on organizing on what is important from the company's identity... other values are more concerned about what happens outside, on the business and world that is changing. Leadership is an example of the latter.

An example of this value is the following: "Leadership vocation in all the markets where we operate, with the best teams and always focused on customers and results. (from a financial service provider)

It is not a coincidence that this example is selected. Why for example did we see so little leadership in the financial institutions; banks, brokers, investment companies, governmental organizations, why did they all follow the flow? Why was there no control, why was there so little difference between the companies in the financial market.

The next dilemma is resolving the distinction between (internal) leadership versus customer behavior; should a bank sell products to clients of whom they know they cannot really afford them? Is "helping them," leadership or just following the hype where everything is possible?

Another difficulty with leadership as a value is the question of its meaning: what does leadership embrace?

Another example: "Leadership demands courage, vision and integrity." That is one way of looking at it. But there are many other elements of leadership.

More examples of statements:

• We identify and develop potential
• We are never satisfied being average in our market place. We constantly introduce new products and services to our clients unmatched by the market
• We will be a world-class leader in every aspect of our business and in developing our team leadership skills at every level; ... management performance, design, products; and in financial results.
• ... in the values of integrity, leadership and commitment.
• Pioneering the next realms of business; being a world-class leader in every aspect of business from ... to ...
• visible leadership

Then there are companies that restate the corporate values towards leadership values: in such a case the values for leadership are previously identified and made explicit to use them. For example:

Integrated, open, simple.

These values represent a vision of current business landscape and what is required to lead.

With leadership as a corporate value it is more or less the same as with job-titles: the "retention manager" for example. It is visible and clear for everybody that retention is key, but then the next thing is: what is it and how do we achieve it. Do we need an explicit job for it? With "leadership" it is the same. Why do organization do not explicit the values that they need and use them? One response would be: because leadership as a value is sexy. It looks good.

Article Source: http://EzineArticles.com/?expert=Hans_Bool

Strategy As Invention(2)

Thursday, January 8, 2009

Strategy is not a set of options

Imagine you are in your car again. This time, it's Sunday, and you and the family are going for a drive. Where are you headed? "We'll let's see", you say to yourself, "How much gas do we have, and which roads have the least traffic?" Many companies think strategy is about evaluating a set of options, often in terms of available resources, or a competitive response. They say things like -- "We have only 12 development resources available to us, which means we can bring two key program feature sets to market, and XYZ Co. has just announced compatibility with our databases. What are we going to do?"

Strategy is not incrementalism or inertia

Or they consider strategy in terms of increments. Last year you increased profits by 20%; does that mean this year you should shoot for increasing profits by 20%. Or 25%? Or, since you added three new modules last year, and reduced customer response time by 33%, should you plan to do the same, or something a bit better, this year?

These would be worthy goals, and this approach is valid. But accomplishing these kinds of targets will not fundamentally alter your company's relationship to the marketplace. Nothing will really be changed -- not you, not your people, not your company -- and not the world.

It's been said that insanity is doing the same thing over and over again, and expecting different results. When you do the same things, only better, only harder, only more, only smarter, what you'll get is more of what you've already got. That's fine, as long as you've determined that more of what you've got is appropriate for this stage of your company's life cycle.

Strategy is an invention

Strategy is something you make up. Your strategy is a statement of what you will do as a company to realize your corporate vision: what specifically will you accomplish, what meaning will your company have, and how will you create value and profits. Don't ignore your past results. Just don't allow your strategy to be constrained by them. Don't ignore the marketplace. Just don't fall into the trap of letting your competitors' actions define what yours will be. And certainly don't ignore your customers -- just don't think that your customers' wants and desires are the only measure of what you should seek to accomplish. These references -- past results, markets, competitors, customers - must be taken into account.

And then, what it boils down to is this: your strategy is the direction your company will take, because you said so. An invented strategy inspires you

An invented strategy inspires you. Because it fulfills your vision for your company, and because you see how the realization of your strategy makes an important difference in the world, it inspires your team, your customers, your prospects. An invented strategy energizes all your constituents, where incrementalism just seems like more work. An invented strategy can propel your enterprise to greatness. An invented strategy can call forth achievements beyond what you currently consider possible. Breakthroughs and blockbusters are never founded on incremental improvement. Like Athena, they spring from the heads of their inventors. And invented strategies can change your company's relationship to the marketplace and to the world.

Inventing strategy

The route to creating strategy is simple -- asking the right questions.

What direction can the company take *now* to realize your vision? What value proposition will you offer customers? What meaningful difference will you make in your marketplace? What meaningful difference will you make in your world? How do you want to affect the lives of your people, your customers, your clients? Your family? Answer these questions and you are on road to inventing your strategy.

Are you building something totally new, or are you improving an existing idea? What are the dimensions of the impact you want to have? Will it be faster? Better? Cheaper? Easier? Safer? More luxurious? More convenient? More portable? More entertaining? More universal?

Next, from a high-level perspective, how will you marshal your resources and time your maneuvers to offer that value and make that difference? For instance, Microsoft's desktop applications strategy is to let other companies originate product categories, wait to see which ones catch on, then bring out a lower cost Microsoft alternative, and market the heck out of it. This strategy defines a what, not a how. It doesn't describe which products, how to develop them, or when they will be rolled-out.

There are no rules in strategy

Strategy is not evolutionary; it is revolutionary. Don't assume the old rules apply or let them guide your thinking. Breaking rules may actually be a way to conceive of strategy. Ask yourself, "What rules can we break?" Consider which obsolete beliefs restrain growth in your company or in your market. Make up your own assumptions. Test them -- first in your mind. Einstein conceived of the Theory of Relativity using what he called a gedanken experiment -- a experiment in the mind.

Source: Free Articles from ArticlesFactory.com

Strategy As Invention(1)

The following article looks at some distinctions between Strategy and Strategic Planning, and offers useful suggestions for thinking about strategy in your organization.

Rather than view strategy as a selection of options, here is another approach: creation or invention.

Strategic planning is not strategy

Strategic Planning, often synonymous with Annual Planning, details how you are going to get where you have decided to go. It is a description of how you will achieve your goals -- those milestones you established in structuring your business plan. Strategic Planning is operational in nature, it examines the particular actions you intend to take over the coming period. Strategic Planning can be critical -- and after you have a Strategy, it is often a good idea to develop a Strategic Plan.

But Strategic Planning is not Strategy. Strategy is the "what" you and your organization are going to be, and the broad approach to how you are going to do that. For instance, your company will become the number one vendor of internet-hosted medical records applications, achieved through freeware distribution to HMOs and clinics, paid for with a back-end, per-patient royalty. Strategic Planning looks at the details of how you will get there -- which associations you will joint-venture with, how many sales people you will add this year, what type of advertising you will use, whether to pay for page-views or click-throughs, etc. The strategic plan will itemize the specific actions you will take in a given time frame, and the specific results those actions will produce.

But imagine filling your new car with gas, turning the ignition key, putting the car in gear, getting on the freeway, and putting the pedal-to-the-metal. Full speed ahead. Imagine that for a moment. Wait a minute -- where are you going? Many organizations jump headlong into the strategic planning process, without becoming clear about where they are going. Sure they have a direction - North, perhaps; into the Internet Applications space, perhaps. If you execute the plan, your company will surely wind up somewhere. But is it where you wanted to go? Strategy defines the destination, and whether you will take a scenic way or a fast way, and if you want rest stops. Strategic planning identifies the specific highways and the specific streets.

Have you bothered to think about where you want to go recently? Most entrepreneurs, most companies, started with an idea of what they were trying to create. But that may have been a long time ago. Perhaps it's time to consider this question again.

Continued in part 2

A Marketing Strategy for Winners

A marketing strategy can either make or break your business. As you know, there are many different aspects to a good marketing strategy. You may be wondering which marketing strategy is right for you. Also, how do you know which marketing strategy really works? The best marketing strategy is the one that gains profits. In this article, we will discuss the various aspects of a great market strategy.

The first marketing strategy you should look into is your website. Make sure your web design is eye catching and easy to maneuver. A marketing strategy you can add to this is to have attractive pictures or illustrations that get your customers attention. This is always an important marketing strategy.

A second marketing strategy is to promote you product. Any marketing strategy will tell you to get yourself noticed. Different aspects of this marketing strategy are to send out flyers, business cards, post cards, etc.

A third marketing strategy is to use an autoresponder. This automated form of a marketing strategy is commonly used. Using an autoresponder to send out advertisements of your product is fast and convenient. Everything is done by email.

Another marketing strategy is to use a slogan or logo. This is a great marketing strategy because it is a way for people to easily remember your business. If they remember or recognize you, they are likely to use your website.

Another powerful marketing strategy is to use an SEO (search engine optimization). Using this will attract more people to your sight. This is because when they do a search for a particular service or product, the SEO will make sure your site is listed at the top of the search results.

A very important marketing strategy is to have a great price for your products or services. This marketing strategy is an absolute must. If your prices are not great, you will never have any business. Try to show people why your prices are so great to entice them to make a purchase.

Finally, the last marketing strategy is to have good public relations. With good public relations, your business will prosper through word of mouth. Allow customers to submit feedback of your business. Place positive feedback and testimonials on your website. It makes your business look good and customers tend to prefer to use businesses that have positive feedback.

As you know you what a marketing strategy that will not leave you with empty pockets. In reality, any marketing strategy is going to cost you a little bit of money. But if you look in the right places and follow some good advice, your marketing strategy should leave you coming out on top.

Source: Free Articles from ArticlesFactory.com

Brand Strategy Implementation

A new way to maximize your company's revenues - regard and treat all of your customer and prospect interfacing functions as media, and organize to ensure that they are maximized as media.

Let us assume you have already got your business a great brand strategy. That's terrific. After all, a great many businesses don't have one. And you can't really expect to grow your business organically without one.

Consider your business for a moment. And your own job in it. You are there primarily to keep increasing the value of your business' stock. This is done in just two ways: increasing your revenues in a sustainable way, and reducing your costs, likewise in a sustainable way.

Of these, the more important is the increase of your revenues, if only because you don't have a business at all without revenues, that is, money coming into your business. It's benefit is increasing market share. Our business is about enabling our clients to keep increasing market share at the expense of their competitors on a sustainable basis. So our business is not just about providing them with a brand strategy, name and graphics, because they may not steal a single sliver of market share from their competitors, if this brand strategy is not implemented effectively over time.

What use is even the best brand strategy if your business is not able to take advantage of it? You begin by understanding what a brand is, where it is located, and how it forms and grows.

A brand is the cluster of perceptions that determines the relative importance of, and relative preference for, your product or service offering over those of your competitors among existing and prospective customers, and therefore most influences the likelihood of their purchase, and consequently, your revenues.

As a cluster of perceptions associated with a specific product name or symbol/s, the brand is located exclusively in the emotional and conceptual space in the hearts and minds of both existing and prospective customers.

Accordingly, the brand is formed by the conceptual and emotional residue accumulated from all the experiences that these existing and prospective customers associate with the offering's signals, such as the product name or symbol/s.

Brand strategy therefore is therefore the management of three things:

a) The identification of the emotional and conceptual residual content that is most likely to maximize the importance and preference for your product or service offering/s over those of your competitors among existing and prospective customers.

b) The development and design of your offering's signals in the form of name, logotype, symbol/s, color/s, sounds, and texture/s.

c) The development and design of all communications and experiences that existing and prospective customers might attribute to your product or service offering via its name or other signals. These might include, but not be limited to:

Sales people's Demeanor

Sales people's Appearance

Sales people's Language

Sales people's Usefulness

Sales people's Consistency (Follow-up)

Sales literature

Product Names

Product Literature

Product Packaging Appearance

Product Packaging Functionality

Product Packaging Disposability

Product Appearance

Product Application

Product Performance vis a vis competition in all key parameters

Product Disposal

Customer Care Access

Customer Care Demeanor

Customer Care Language

Customer Care Usefulness

Customer Care Consistency (Follow-up)

Bills Appearance

Bills Comprehension,

Bills Accuracy

Collections Timing Disruptiveness

Collections Demeanor

Collections Language

Collections Consistency

Communications Tagline

Communications Rationale

Communications Character

Communications Tonality

Communications Core Message,

Communications Selling Idea (visual dramatization)

Stationery

Advertising (all media)

Promotions (all media)

Facilities

Vehicles

Brand Direct Marketing

Internet Marketing and Communications.

As you can see from this list, there are a great many different kinds of customer experiences that can influence your brand, and thus influence the quality of importance and preference of your product or service offering/s, and thus determine purchase, and of course, your revenues.

It must be clear by now that your brand positioning service, your brand design service, your advertising agency, and your promotions and merchandising support services, even together, don't have all the competences necessary to manage all these ways toward building your brand.

So you have to think of all these functions also as media for building your brand, and organize to manage these functions in a way that maximizes each one's potential for building your brand.

Even a cursory glance at the above list will show you that some of these functions are covered by your existing marketing communications agencies and design services. A closer look will show you that most of these agencies and services help you primarily with your interactions with prospective customers.

That's when you realize that there are many of your businesses functions, especially those that interact exclusively with existing customers, that you currently don't even consider as media that are influencing the quality of your brand.

So you have to do two things in a hurry. Firstly, make sure that these functions that are both not covered by existing agencies and services, and not managed as media for building your brand - are no longer neglected in this way. This means identifying someone who can make sure that all these functions fulfill their media function as well as this can be done.

Secondly, make sure that the residue of both the work done by your agencies and services, and those that are managed by your new internal media czar are both optimally contributing toward building your brand in the minds and hearts of your existing and prospective customers.

Article Source: http://EzineArticles.com/?expert=Ravi_Arapurakal

To Implement a Business Strategy, Create a Culture of Execution

In the United States, the average firm only achieves about 63% of its strategic plan. Based on studies conducted by McKinsey, the Harvard Business School and others, 90% of strategies that fail do so because of lack of execution. Without a clear implementation strategy, even excellent business plans hardly stand a chance.

Research in the last several years has pinpointed many reasons why business plans fail. Most of the reasons have to do with "operator error" and include poorly communicated plans, weak or non-existent implementation planning, inability to adapt to changing conditions, lack of a systematic approach, and poor employee engagement.

For effective implementation to happen, an "execution mentality" must be present in the working environment. In this environment, execution must represent a primary value; activities and effort are not enough. There must also be an emphasis on measurable results and a get-it-done attitude. People are expected to step up to challenges. Lackluster performance is not tolerated though the emphasis is on constructive improvement rather than punitive measures.

Establishing a culture of execution begins with a written business plan which clarifies mission and vision, enterprise goals, measures and targets, and illuminates company values for all employees. To begin building buy-in, the plan should be created with the help of the individuals who will be primarily accountable for its execution. This means that the head of each major business unit will have contributed to the research, visioning and formulation of the plan.

Similarly, as the plan is cascaded through the organization and enterprise goals are translated into departmental and individual objectives, the people who will be responsible for executing the plan should be involved in developing their part of it. At each step it is important to identify the critical variables and potential potholes that could derail the plan, and develop contingency actions so strategy implementation can remain on track.

Monitor Performance

It is critically important to monitor performance at regular intervals. We recommend quarterly intervals but some firms review progress monthly or even weekly to get real time feedback on how the plan is progressing. Set milestones or interim goals at various intervals as a further check of whether the plan is on track.

Another essential is solid communication at all levels of the organization, to further illuminate plan particulars, to report on progress, and to recognize achievement. Everyone needs to know what is expected of them and how their progress will be measured. Regularly inviting employees on the front line to comment on progress will go a long way to informing you about how the plan is working and what obstacles remain.

Delegating Assignments

Often a large issue in building a culture of execution is the art of delegation. Many things can go wrong. First, when you delegate an assignment, employees have to be given full authority to complete the assignment. Micromanaging the process will set the employee up for failure.

Many times, accountability is confused with responsibility and the confusion works against execution. Responsibility is a commitment you make to yourself based on your own internal standards. Accountability is a commitment you make to another person based on mutual obligations each makes to the other (e.g. fair day's pay for a fair day's work). If the employee has no authority to complete an assignment, accountability and effective execution will not be possible. The employee will be left only with his or her responsibility mixed with lingering resentment that they cannot control the outcome.

In delegating, managers are responsible for explaining all of the dimensions of the employee's accountability. Accountabilities have many dimensions including tangible dimensions like results expected, an execution timeframe, "stretch goals", and boundaries such as rules and limits. There are also intangible dimensions with accountability like teamwork or stewardship, that is, the accountability to effectively care for and manage all resources.

The barriers to effective execution can be overcome by educating managers about the importance of effective communication in delegating and driving performance. Managers should be well schooled in the skills of goal setting, measurement, coaching and providing feedback.

The Role of the Leader

Execution will not happen if the senior leadership is not out in front of the process. It is essential that leaders be hands-on rather than hands-off, meaning that even if you have delegated full accountability for an assignment, it is important to monitor progress and follow up with people at regular intervals. Being available as a resource, role model and as a coach can go a long way in making sure that plans stay on track and progress is being made. The opposite is also true - if the leadership is not involved, people will believe that what has been planned is really not a priority.

In their book, "Execution, The Discipline of Getting Things Done", authors Larry Bossidy and Ram Charan list seven essential behaviors for leaders who want to make sure execution happens. These seven behaviors include:

1. Know your people and your business
2. Insist on realism
3. Set clear goals and priorities
4. Follow through
5. Recognize the doers
6. Expand people's capabilities
7. Know yourself

To this list we would add one additional behavior -- build trusting relationships. Without trust between managers and employees - a necessary ingredient in developing an engaged and accountable work force - people will not risk "going the extra mile" to get the job done.

Article Source: http://EzineArticles.com/?expert=Joel_Head

Strategy Implementation From Bottom Up

A strategy is no more than a piece of paper, if people at the bottom of the pyramid do not know what to do with it. The front line is where value is being created, where the rubber meets the road.

Getting the Buy-In of Informal Leaders

While most organizations have a well-defined formal leadership structure, it is quite often observed that the real centres of power/influence do not vest with them. So a critical step is these "informal" leaders. They often boast of disproportionate influence/power. It is these informal leaders who can play a significant role in setting the agenda or setting the pace for implementation. It is they who influence canteen conversations about what the new strategy is supposed to accomplish.

So getting a buy-in from these informal leaders is an imperative for successful implementation. And any process of creating a buy-in is a two-way dialogue process. One thing that influencers are sensitive to is the risks that they face. Using this as a starting point, one can discuss of how the strategy will mitigate the risks.

These 'hot buttons' create high degree of involvement amongst the influencers and develops a consensus and commitment for execution. While the top management must communicate openly and honestly, it must also be receptive to feedback/changes/trade offs.

One widely used methodology for identifying the informal leaders in a very structured manner is social network analysis. Alternatively this can be also be done by doing interviews and using a questionnaire who the key influencers are.

Branding of Strategy

Also at an organization wide level the strategy needs to be 'branded' and communicated in a very simple way for it to be understood. The branding exercise should be able to translate the crux of the strategy in a few simple messages, of 'how it is going to make a difference to my life'.The communication should also emphasize the problems that the strategy will solve and the risks that it will mitigate. All this is very necessary for creating a common ground and for the front lines to connect with strategy.

The communication of strategy should involve a lot of face-to-face interaction/meetings etc. and not just be limited to sending emails or putting up posters etc. These face-to-face opportunities develop trust and also serve as opportunities to clarify/interpret the key themes.

Again this process also needs to be two-way since the front lines know what the problems are and have a fair idea about the solutions. They may be able to give inputs which will make the strategy more robust. Or they may be able to suggest activities/steps which will speed up strategy execution or make it more relevant.

Putting an attractive brand name like say 'Terminator Strategy' evokes an interest, and a key message could be that we need to terminate all causes of customer complaints. This could be easily understood by service and operation teams.

Keeping the Communication Going Throughout the Implementation Process

We often find that some organizations do make a lot of noise during the initial stages of introducing the 'bold new strategy'. But slowly and steadily the communication stops and the dialogues shut down.The leadership should keep communicating. They should communicate how the milestones achieved , what was the actual vs. planned performance etc.

Finally it all boils down to the coffee machine

And often conversations at the coffee machine determine whether the organization has successfully ensured that the bottom-up approach has worked or not. It is these conversations that are the true barometer of success .These conversations provide insights on whether the front lines have internalized the strategy and is translating it in action.

If they are joking about one more cause of complaints that they have terminated, it means that strategy is alive and kicking, and is delivering the desired outcomes.

Article Source: http://EzineArticles.com/?expert=Sarvajeet_Chandra

Strategy Implementation Bleeds to Death

There are a lot of organizations where strategy implementation fails because of a combination of a lot of small issues across the organization. The thousand cuts inflicted by these small issues ensure that the implementation program bleeds to death.

For a moment let us only consider the internal environment within the organization. Let us discount the impact of the external environment like competitive action or a market condition. Any strategy implementation initiative encounters hundreds of small resistance/rebel teams at various levels within the organization.

The root cause of most of the rebellion is that people & technology do not want to change.

Managers want to protect their turf, customers want to stick to their old habits, salesmen want to safeguard their territories.Customers refuse to migrate to a new improved product line since they are comfortable with the features and services of the older version.

The customer rebels against strategists who takes him for granted. They revolt against organizations that make a lot of assumptions on her behalf. Just because customer is buying wealth management services from a company does not mean that she will buy travel related services. The customer has a friendly travel agent that she is very comfortable with. The customer rebels against the proposed idea of 'services supermarket'. Therefore what seems like a good diversification product strategy fails to take off.

Then there is the 'rebellion of the employee'. No employee really wants to change unless there are strong reason and incentive for him to do so. A salesman used to selling a product might be compelled to sell a solution. However the salesman is not sure of whether he is capable of doing that. So he sticks to selling products. Similarly a salesman selling real estate is not happy about selling mortgage to customers (since the incentive is low). While cross selling and up selling looks great on paper it is difficult for the organization to execute the new sales strategy.

Another rebellion that takes a long while to years to resolve is the 'rebellion of the IT system'. You might put a new purchase software with fancy reports but it refuses to talk to maintenance software. Hence inventory of maintenance spares cannot be updated real time. Or an HR software refuses to talk to the e-learning software.

So there are these hundreds of small rebellions waiting to happen, once a strategy is ready for execution. Very often, the over-confidence at the strategy level (that stems from a grand new vision, a fascinating new product, a big merger, etc.) does not take into account the possibility of the occurrence of these rebellions.

While each rebellion in itself not be worrisome, when put together they can bring the bright new strategy on its knees. It is very surprising indeed that instead of toning down estimates of sales on account of these rebellions, strategists over-estimate them. Instead of playing down the possible cost savings or merger synergies, companies exaggerate them without accounting for resistance at various levels.

Article Source: http://EzineArticles.com/?expert=Sarvajeet_Chandra

Designing the Strategy to Optimize the Company Image

A company logo is not a complete success until the required factors have been decided. The strategy which is designed for the structuring of the logo is dependent on a number of factors. These factors are basically responsible for the structuring of the logo in the correct prescribed manner. A company logo is one of the most significant and mandatory constituents of the image of the organization. There fore it is very important that the image of the company fulfils all the requirements which are necessary in this case. A company logo requires many of the parameters which are responsible for giving it an exclusive image. Thus an exclusive image requires a lot of extra parameters and efforts. These efforts are needed to make the image of the company a professional one and stand out in the market competition.

A strategy in this case can re revamped and redesigned but the process is quite complicated. A redesign process depends on a lot of circumstances and their suit abilities.
Now in this case there can be contradictions. Some companies are not at all in favor of designing their logo through a strategy formulation. There are various companies which use the requirement analysis for this purpose. There are various reasons for this selection. Some organization think that redesign of a logo should not be a selection under any circumstance. The reason being that this practice can cause harm to the already constructed company image in the corporate sector. Hence the effort should be made that such conditions do not rise in the first place in which the logo of a company has to be redesigned. The reason is that this carries a lot of factor. Hence the practice is only made by well reputed and well established organizations.

Article Source: http://EzineArticles.com/?expert=Nicole_A_Perkins

The Best Network Marketing Strategy For Any Company - Find Success in a Box of Crayons

A company logo is not a complete success until the required factors have been decided. The strategy which is designed for the structuring of the logo is dependent on a number of factors. These factors are basically responsible for the structuring of the logo in the correct prescribed manner. A company logo is one of the most significant and mandatory constituents of the image of the organization. There fore it is very important that the image of the company fulfils all the requirements which are necessary in this case. A company logo requires many of the parameters which are responsible for giving it an exclusive image. Thus an exclusive image requires a lot of extra parameters and efforts. These efforts are needed to make the image of the company a professional one and stand out in the market competition.

A strategy in this case can re revamped and redesigned but the process is quite complicated. A redesign process depends on a lot of circumstances and their suit abilities.
Now in this case there can be contradictions. Some companies are not at all in favor of designing their logo through a strategy formulation. There are various companies which use the requirement analysis for this purpose. There are various reasons for this selection. Some organization think that redesign of a logo should not be a selection under any circumstance. The reason being that this practice can cause harm to the already constructed company image in the corporate sector. Hence the effort should be made that such conditions do not rise in the first place in which the logo of a company has to be redesigned. The reason is that this carries a lot of factor. Hence the practice is only made by well reputed and well established organizations.

Article Source: http://EzineArticles.com/?expert=Nicole_A_Perkins

Management Is Key To Success

Once the company has developed its strategy in its goals and objectives and how to implement them as well, it is the job of a manager to plan, execute, control and report. So there would not be any success even with good strategy if the company did not have a good manager.

In order to have a good management team it is important to understand how Management influences on a high scale of success of any company and see what is the difference in management between a small enterprise and a big corporation.

Management of the company regardless its size and activity can be divided into four types. The first type which could be considered as the most important is human resources management. In order to manage employees well is it important to know that each employee comes to work daily with definite purposes. They are: salary, career path, a possibility to grow within the company whether on a vertical scale or horizontally (change in production area, division, different areas with in the company, etc.) or higher (promotion, management) and experience.

The second type is IT management or management of technological support. IT managers should remember that good technical support for each company is the part of its success, it has to be up to date on technology, to be able to operate on a competitive level. Technology means investment and cost within a company.

The third type of customer management has a large scale of tasks from supporting existing customers to doing some marketing researches among potential customers in order to find out people needs, demands, wishes, attractive prices etc. So the company’s sales will definitely depend on customer management department success.

The fourth and last type has the highest level on managerial scale and it strategic management. It is where all company’s goals and objectives are monitored, developed, advanced and presented to the company employees.

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IT Strategy Development: Reasons to Find An Expert

Many companies exist, who can sell technology. Fewer of these can provide solutions to company IT needs - and answering the many questions posed by IT requirements, upgrades and systems development . Thus, before you buy, read on: the information you find here is based on many years of experience, and should inform your IT strategy as your company grows.

Many companies exist, who can sell technology. Fewer of these can provide solutions to company IT needs - and answering the many questions posed by IT requirements, upgrades and systems development . It is vital to achieve a holistic approach to technology; and depending on your size and needs, that can mean anything from complete outsourcing to being a friendly voice at the end of the phone line. Thus, before you buy, read on: the information you find here is based on many years of experience, and should inform your IT strategy as your company grows.

IT Strategy Development

It is important to work with IT companies who understand totally that IT exists to support the goals of your business- not the other way round! That's easy to state on the face of it, but keeping your business and it's supporting technology in line day-in, day-out can be a challenge.

In a nutshell, two major themes appear over an over again, when the subject of IT Strategy is raised. IT departments often complain that purchases are made on a cost, rather than value. Business owners complain of spiralling technology costs without visible benefit. These are common battles, and are symptomatic of a piecemeal approach to technology.

If you want to avoid that clash of wills, you need effective communication between the business and the IT functions. The reference point for that communication is some sort of IT strategy - a plan in which both business and IT stakeholders participate, and which can be referred to and amended as priorities change.The burning question: How Can This Be Done?

IT Strategy Development: A starting Point

Here are just some of the questions along the way to establishing an IT strategy.

Where are we going as a business? How do we want to be organised to get there? What information/applications do we need? What infrastructure will help deliver our core functions to our users and clients? What sort of support will keep the whole thing going? How often does all this need to be reviewed?

Obviously, these questions must be tailored to your business; but for the majority of enterprises, large and small, , however they're dressed up, they're the same questions.

Answering the Questions

Ideally, the process of answering these questions should include the support of an aribter: an independent facilitator to this discussion. Irrespective of the size of your organisation, a technically knowledgeable outsider, with experience enough to understand your IT needs, and focussed enough to understand your business requirements, is well worth serious consideration. Above all, such a person can add a vital layer of impartiality, so resourcing arguments need never boil over.

Implementation

If considering a holistic IT strategy made you ask yourself some hard questions, that's a good thing. But implementing that strategy can be even harder. Here again, an independent facilitator with knowledge of a range of software products and solutions, can support the straightest-line purchasing solution, and can also provide a contracted service level so that, whatever is provided by way of systems solutions, you will also benefit from a fully-supported implementation.

This would include getting solutions which are workable rather than merely elegant, recommending solutions which work day-to-day for your staff and clients, offering solutions which also take into account your existing IT: (very few IT projects exist in isolation from what was there before), operating to sound budgetary limits and demonstrating a clear return on investment, as well as keeping your business running whilst work is progressing

As you can imagine, in the real world there are tradeoffs to be made. Navigating those questions is what outside consultancy expertise is all about. From initial strategy development though to pragmatic, workable implementation plans, expert consultancy ensures a successful navigation through the purchasing maze and ensures you make an informed choice for your money.

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