Management and Business Strategy: January 2009

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. 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.

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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.

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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

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.

Source: Free Articles from ArticlesFactory.com

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.

Source: Free Articles from ArticlesFactory.com

Company Shirt Strategy Through Lifestyle Segmentation

The company shirt strategy is one of the best branding campaigns, especially if you have developed a defined segmentation of your target market. By distributing company shirts to your target market, you have made them roaming testimonials that would influence their peers in supporting your brand. But in spite of the clear fit of a company shirt strategy in brand development, many still fail to maximize this marketing approach. One reason is the failure to match the company shirt giveaway to the psychographics of the segment they are targeting.

Psychographics is a market segment with a common descriptive characteristics based on personality traits, lifestyle, or values. Amongst all consumer segmentation, psychographics is the most exact and defined. Thus, this form of segmentation results to the best understanding and connection between the firm and their target segment. Though, the downside is that it is the hardest one to measure and cluster. One way of simplifying this approach is to have some models to build upon in developing your own market niche.

In developing a company shirt strategy, the simplest models to build upon for your psychographic cluster is lifestyle segmentation. The defining characteristics for a lifestyle segmentation are hobbies, interests and other aspects of the consumer's lifestyles. And for our model we will focus on the activity that your market is commonly engaged in. The rationale: different activities would, of course, require different company shirts and apparel. For our lifestyle segmentation, we will be focusing on five major categories, namely leisure, athletic, casual, business, and social.

Leisure = Garments for lounging around, relaxing at home and doing light to moderate work out. Jeans, shorts and sweat pants fall under this category. Mostly informal clothing, company tee shirt and sweatshirts can also be put in this segment.

Athletic = Vigorous activities that require more than the minimal movement require athletic clothing. Jerseys, sports shirts, swim wear are the main components of this lifestyle segment's wardrobe.

Casual = A notch higher than leisure clothing, but not as point-driven as athletics, the casual category is dressier but is still relaxed. Most activities involved in the casual lifestyle are the afternoon and morning events. Lunch with your friends, power breakfast with the boss, church bake sales and picnic in the park are some examples. Clothing could include sun dress for women and polo shirts for men. Most would describe the kind of clothing as business casual or smart casual.

Business = Members of the business lifestyle segment are what you'd call power dressers. Company dress shirts, suit jackets and ties are the usual outfit for men. Tailored skirts, button-down shirts, silk shirts and dresses are what business women wear most.

Social = Social affairs include weddings and dinner parties as well as auctions and charity events. Clothing appropriate for the social segment are cocktail dresses and ball gowns. For men, dress shirts with slacks are the most common outfit.

In today's cutthroat marketing world, there is little room for errors. Precision marketing via lifestyle segmentation can effectively cut back on your unsuccessful strategies. This is especially useful if you are in the development phase of your company shirt strategy. Knowing exactly who your target market is and what they want is the key to lifestyle segmentation. This will help you fine tune your choice of company shirt and give you optimum ROI.

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

Do Company's Strategy Differ in Network Marketing?

When investigating different company's strategy on plans to expand into a market there are many similarities amongst rival companies, but are they missing a key opportunity?

A company's strategy often looks something like this. The first step is to decide what kind of product will be produce to meet the needs of a particular group of people. In the beginning stages they figure out exactly what that product is and more importantly build a story around it. Whether it is the origins of the ingredients or the back ground of the inventor. Right from the very start the management team understands the importance of having a marketable product that people can easily relate to.

The reason why it is important to have a product that is easy to relate to in a company's strategy is based on the philosophy that "facts tell and stories sell". So once a product and story is made, they begin to build a network of distributors to move the products through.

This is an effective way to move a product to a market but there seems to be a flaw in the company's strategy. You see, most companies are still teaching people the traditional strategies of building their Network Marketing business even though much more advanced technologies are available. These traditional methods include but are not limited to; making your names list, approaching everyone you know and come in contact with, meeting with prospect over a coffee, presenting in hotel conference rooms... and the list goes on.

The interesting part is that if you are a part on a Network Marketing company that still employs these old methods, it is up to you to search for a better way. You have to be the boss of your own business and be proactive by getting connected to materials that will teach you new strategies. Just look at the growth of your business, isn't that enough proof that you need to do something else? I can say this with such certainty because for less 5% of the people in the industry are able to support themselves off their business.

So it's not that you don't have what it takes to build a home based business. It could be that your company's strategy is simply out of date. Using technologies such as the internet is an obvious way to start to integrate technologies. Here you can build an online presence and more importantly being to build relationships with people all over the world.

Integrating technologies into your traditional business can open new opportunities that far exceed your expectation.

Article Source: http://EzineArticles.com/?expert=Taigh_G._Smyth

Budget Airlines In India Targeting Non-Metro Cities

After tremendous growth of Indian aviation sector from last couple of year, now the low cost airliners are targeting to increase there fleet and improve services. Every company are now making target to the non-metro cities. We can see aviation sector is flying off to the new high. There was huge investment in recent.

Every budget airliner are queued to expand there fleet size and the investment is worth billions of dollars. About 250 aircrafts orders are placed from most of the companies. Go Air has ordered 41 aircrafts and 90 by Air Deccan. IndiGo Airlines is also placed order of 100 Airbus A320 and this order was of worth $6 billion.

The target is to start service for the non-metro cities in India. After the minimizing the fare cost difference between the Indian Railways 1st class AC and Budget airlines, every people are making interest to move with the budget airliners. The reason is simple, saving of time and comfortable journey by paying few more. Actually non-metros are the very big market for these low cost carriers (LCCs). Peoples are just waiting for getting start of service. If they are successfully targeted these destinations, then no doubt every airliner will be in profit. Also the movement of peoples will increase across the country and also the interconnectivity between these cities will improve.

In 2007 the overall fleet size of airlines sector was grown by 42%, where as for low cost carrier the figure is 51%. In the segment of budget airlines in India, Spicejet and IndiGo Airlines have sawn a growth of 200%. While Go Air recorded the 50% increase of its fleet size. The estimation is that, the Indian aviation sector will about to increase 50% of overall capacity by 2010. So just watch the market, this will definitely improve and will give strength to economy of India.

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

Go With Quality Over Quantity And Your Business Will Prosper

In the early days of developing my home business, I went for the
numbers instead of focusing on targeting prospects. It took me a
while to appreciate the importance of targeting (quality) instead
of just going for the big numbers (quantity).

For online marketing, it helps greatly to get your website in
front of people who are actually looking for the product,
service, or opportunity that you are offering. This refers to
the concept of marketing your sites to your target audience,
rather than wasting your time, effort, and money on people who
are not already interested in what you have to offer.

Be wary of "massive action" techniques in this era when many ISPs
feel their hottest marketing theme is the blocking of incoming
emails, which they decide their customers do not want to receive
(they are the self appointed "information police").

Many of the sources of cheap, high volume leads supply you with
leads that have absolutely no interest in your particular
business (or product or service) and furthermore, have been put
into the list in such a manner that can get you into trouble with
your ISP because you are unwittingly spamming (many of these bulk
lead lists are created by robots that crawl the Internet and
harvest email addresses) the recipients.

In order to be effective in the promotion your particular
proposition, whatever it is, you have to seek out your target
market. This is as true online as it is offline. Just because
you are able to reach huge numbers of people with your message on
the Internet far more cheaply and quickly than you can offline,
does this necessarily mean you should?

What's the point of devoting your time and energies to marketing
to a massive group of people without first knowing whether they,
as a group, have a general interest in what you are offering?

It is much more efficient and effective to first find out where
your prospective customers congregate, and then target that
congregation, than it is to use a shotgun approach and hope that
one of your pellets will somehow find its target (you know...
throw enough up against the wall and something is bound to
stick). You will find that by selectively targeting your
prospects before marketing to them, your conversion ratio (the
proportion of your target market that takes positive action and
actually purchases your product or service) will be much higher
than the results you would otherwise achieve without first taking
the time to target your prospects. Once again, quality wins out
over quantity.

It seems that a great many webmasters have not stopped to ask
themselves the all-important question...What is the purpose of my
web site? For some reason, many of them seem to think that the
purpose of their web site is to give away freebies. Or it could
be to be a "showcase" for their products. Or it could be to
create links to all kinds of resources. Or it could be to have
fancy flash graphics and build a brand name.

One of the biggest mistakes people new to web design make is
going for more "flash" than substance. They bog down their site
with a bunch of fancy colored backgrounds, 3-D text, flash
presentations, etc. If a visitor to your site is using a 56K
connection and has wait to more than 8 seconds for it to load
(which can easily happen on sites heavy with graphics), you can
expect to lose about 1/3 of your visitors.

If you're a business, the purpose of your web site is to sell a
product or service. Your web site should have one main focus.
It should not be selling a dozen products, a dozen opportunities,
or linking to a bunch of different affiliate programs. Presenting
too many options has a tendency to confuse your visitor.
When someone visits your site, it should be clearly obvious what
one action you want him or her to take.

Source: Free Articles from ArticlesFactory.com

Targeting Your Audience With The Right Messages

When a small business approaches advertising, they have to consider what they want to say to the audience. It helps to know who your audience is and what their habits, likes and dislikes, and opinions are. A company I recently reviewed messaging with was having trouble selling their product to the "over 40" group. Since several of the individuals in the classroom were in that category, we decided to help him a bit as doing research with the target audience is a valuable method of discovering the best messages to deliver to that audience.

First of all, this company sells after-market turbo charge units for vehicles. Now, this sounds like something a teenager, or young man in his early 20's would definitely want on his car for the power, and the "coolness." This is what the company advertised to their audience and their audience seemed restricted to that age group and demographic: male, teenaged to early 20's. Not a huge target audience, even for a world-wide company.

As my class and I discussed this company's needs, we asked them to tell us more about the product. We discovered that adding this after-market turbo charged unit would increase the gas mileage of a car, make it cleaner for the environment as the emissions would be reduced, and make it more efficient as well as extend vehicle life. Now, doesn't that sound like messages that an over-40 group of environmentally conscious individuals would like to hear about the product? As the company representative went on, we also found out that the technology was patented, unique, and delivered greater power reliability from a vehicle. OK. "Power reliability" is just another way of saying "turbo charged engine for fast getaways" right? Of course it is, but it communicates it in a language that a different target audience would relate to.

When developing your targeted messages, you should always research the audience. In this instance above, this company had the opportunity to review messages and ideas and concepts with the class and in so doing, found that there were plenty of messages that were important to the over-40 crowd. In fact, some of the messages for the younger set were valuable to the older crowd (for example, "powerful" was still important). The reputation of the company and the fact that the technology was patented and unique were important messages world-wide as was the ease of installation. This product could be delivered and installed by your own mechanic and in many instances by a savvy mechanical individual who loved working on his own cars.

As we worked with this company, the class supported the idea that if this product could increase fuel efficiency, reduce emissions, and decrease cost of vehicle use, then fleet vehicles would be ideal to use this product. Large delivery trucks that are generally gas hogs could add this product on after-market and deliver a longer life of service, greater fuel efficiency, and be more ecologically friendly. That sounds like a selling point not only for the company installing the part but for the company using the part ("our trucks are just as environmentally conscious as we are").

Using the feedback of the audience in our classroom, this company was able to develop the foundation of a whole new advertising program for several different audiences: companies with fleet vehicles, and anyone older than 30 or 40 years old.

Targeting your audience with the right messages will deliver much better results. To target the audience correctly, spend the time to get to know the audience, their habits, and opinions. This helps your company to determine what and how to communicate the value of your product or service to your target audience.

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

Personal SWOT Analysis For Career Change

A personal SWOT analysis is a powerful technique that can be used when seeking a career change (or indeed any other personal change in your life). Linked to a strong and powerful goal, it can enable you to take advantage of your skills, talents and abilities to take your career to the next level.

SWOT stands for:

Strengths

Weaknesses

Opportunities

Threats

Completing a SWOT Analysis

To complete a SWOT analysis, take a large piece of paper and divide the paper into four quadrants and label each area as above. Look at each area and consider the questions that follow and write down the answers that come into your head.

Strengths

Personal strengths form an innate part of who you are and your characteristics. Consider your strengths as you see them and talk to your colleagues and friends for a further source of support.

What skills and capabilities do you have?

In what areas do you excel?

What qualifications, accreditations or experience make you unique?

What would other people consider to be your strengths?

What qualities, values or beliefs make you stand out from others?

Weaknesses

Consider your personal weaknesses and how you may be seen by others. It is important to list any areas you feel may be holding you back.

What are the gaps in your capabilities and what skills do you need to develop?

In what areas could you improve?

What would other people consider to be your weaknesses?

What personal difficulties do you need to overcome to reach your goal?

Opportunities

Opportunities are normally external and may relate to changes in technology, people that may influence decisions, or training, development or support that may support your aspirations.

What opportunities are available to you?

What external influences can help you to achieve success?

Who could support you to help you achieve your goal?

Threats

Threats are also normally external and are the things that get in the way of your success.

What obstacles are you facing?

What external influences may hinder your success?

Who or what could get in the way of you achieving your goal?

The next step

Carrying out a personal SWOT analysis can help you to understand yourself and support the decisions you make. It will highlight areas you may not have considered before and may help you to realise a different perspective in each area.

It gives you a foundation from where you can move forward with your goal to support your career change and for you to take action. There are various ways in which you can do this.

You can review your strengths, and ensure these are reflected on your curriculum vitae or letter to a prospective employer. You can consider ways to address any weaknesses which you want to overcome or develop your skills and capabilities.

You can review your opportunities as these can be used to your advantage. Also consider how your threats could be minimised or eliminated.

These actions will enable you to take clear steps towards achieving your goal.

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

The Sales and Marketing SWOT Analysis

The S.W.O.T. Analysis, where you evaluate your Strengths, Weaknesses, Opportunities, and Threats, is well known in the business planning process. Many companies use this method during strategic planning exercises as a way to form strategies and make decisions on new business ventures or initiatives. It is powerful because it looks at both internal (strengths, weaknesses) and external (opportunities, threats) forces.

As powerful as the S.W.O.T. Analysis is for business planning, it is equally powerful in sales and marketing decision-making. By employing this traditional tool to each of your sales and marketing activities, you can take advantage of your strengths, uncover new opportunities, minimize your weaknesses, and eliminate your threats in amazing ways. That is, however, only if you can be objective. Otherwise, the exercise falls flat.

While the S.W.O.T. Analysis can be applied to decisions about business planning, product development and other strategic decision-making tasks, consider using it for the following two sales and marketing activities:

1. Deciding Marketing Vehicles: Use the S.W.O.T. Analysis to evaluate each marketing vehicle in your marketing plan. This will allow you to focus marketing efforts on the vehicles where you have the most advantage or opportunity and the most minimal amount of weakness or threat.
2. Developing Sales Presentation/Proposals: Apply the S.W.O.T. Analysis to the development of each of your sales presentations and proposals. Be sure to focus the analysis on evaluating each section based on issues specific to the customer you are pitching.

As you approach your S.W.O.T. Analysis, consider the following questions.

Strengths: What advantages does your company/product have that no one else has? What makes you most unique? Focus on those things that make your offer most compelling to a prospect or customer.
Weaknesses: Where can you improve? Where have you made mistakes in the past? What do you not have that other companies/products in your industry have? Focus on those things that most detract from your offer.
Opportunities: What trends lend to your strengths? What is the potential "expansion" potential over time? Opportunities are external factors that represent why your company exists or should/can growth.
Threats: What challenges do you face? What are your competitors doing? What is the overall competitive landscape? Threats are external forces that could impact your success, such as competition, operational capacity, cost of goods increases, etc.

No matter the purpose, using the S.W.O.T. analysis can force thoughtful, strategic, and creative thinking. And, when used properly, the S.W.O.T. Analysis not only helps you identify your strengths, weaknesses, opportunities, and threats, but it also helps you determine your strategies for addressing each.

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

SEO SWOT Analysis - Back to Basics

Online commerce is on the rise and has prompted numerous businesses to build a website; a sizable chunk of these businesses only operate online. You would be startled to know that a lot of them make little or no money from their online venture, for reasons well within your grasp - faulty internet marketing strategy. The adage "Build and they would come" is the main culprit behind businesses failing to monetize online. Building a website is not the 'be all end all'; there is more to it. You internet marketing strategy can make or break your business.

Marketing a product or service demands sound strategy, be it traditional marketing (offline) or online marketing. In order to build a simple market overview strategy to analyze the business's internal as well external environment, a basic tool like SWOT comes in handy. Not only is the tool simple to use, but also a great starting point. For people who are not from a marketing background, let's start by explaining what SWOT stands for -

S - Strengths.
W - Weaknesses.
O - Opportunities.
T - Threats.

A few facts:

Strengths and weaknesses stem from internal sources whereas opportunities and threats stem from external sources.
Strengths and opportunities are useful and can be used to your advantage, whereas weaknesses and threats are harmful and would go against you.

A basic SWOT analysis of your business would help you gauge facets of your business which could be leveraged to create the maximum 'bang' online, as well as help you capitalize on them. Getting your priorities right is imperative to make quick wins. As a tactical measure, you could work towards eliminating your weaknesses and neutralizing your competition for sufficing your long term strategies.

Before you start doing a SWOT analysis, it is important to comprehend that SWOT analysis is very subjective in nature. Ten different people analyzing the same business will come up with ten different sets of results. Further, you will have to be realistic and honest while carrying out this analysis. Bolstering your strengths or undermining your weaknesses can have a detrimental effect.

SWOT analysis for SEO could be implemented for all types of websites, but larger websites will have more variables and hence pose difficulty in achieving actionable deliverables. It is more suited for small to medium websites having fewer variables and thereby more direct actionable results.

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

SWOT Analysis of Network Marketing For Business Owners

For business owners who are curious to learn about the distribution method of network marketing, here is a SWOT analysis of the industry.

Strengths:

For decades business owners have noticed that word-of-mouth advertising is one of the most powerful methods of advertising. Companies who distribute their products in network marketing can experience exponential growth because of the viral effect. Everyday people can become distributors for your company and bring the products to their local market. This is based on the philosophy that people are willing to purchase products or services more readily from people they know and trust, rather than from a sales rep.

Compensation is performance-based as there is often a pay grid in place for satisfying certain quotas. Having this kind of pay structure in place reduces the risk for the business owner for if a new distributor does not perform, the financial burden of obtaining the new distributor/ associate is minimized. Customers are loyal to both the Independent Distributor representing the company and the products. Products are usually consumable which creates repeat orders therefore increasing sales from one quarter to the next is common.

Weaknesses:

As business owners we will want to cover the weaknesses as part of our SWOT analysis of the Network Marketing industry. The first and obvious weakness is that the growth of the company becomes dependent on the strength of your distributors. This is not completely out of a business owners' control but can be difficult to influence. The compensation is the main motivating factor for distributors. Retention of distributors is a problem right across the industry. As it is easy for a distributor to join a company, it is just as easy to leave. This model of distribution works best for products or services that are consumable. This creates repeat orders which ideally can be set up on a monthly cycle. Works best for products between $30 and $180 which makes it affordable for customers, and still profitable for the company.

Threats:

Having a look at the Threats portion of our SWOT analysis of the industry, down line raiding can occur at any time. Down lines are referred to as a group of distributors who work and benefit from one another. If a key distributor decides to join another company and bring their team, a portion of sales can be loss. Having incentives and agreements in place is the best way to avoid this situation.

Another threat to the business owner and company is that distributors are free to promote in the field following certain guidelines. These guidelines may not always be followed resulting in possible lawsuits or defamation of the company's brand.

Opportunities:

Expanding into new markets is on top of the list of opportunities as part of our SWOT analysis of network marketing. As people are happy with the products in one market, distributors will be ready to move to expand into a new market. This will also be possible due to the low marketing budget needed for the main stream of communication is through the distributors who only get paid when a product is sold.

Since the marketing budget is not as taxing as traditional advertising methods, business owners have been able to allocate more resources to the product allowing it to be more competitive in the market. And as sales grow another opportunity that business owners take advantage of is being able to expand the product line to the existing customers who are often open to adopting the new products.

This SWOT analysis of network marketing for business owners is by no means comprehensive, but gives you a starting point on what to expect. The industry is rapidly evolving and more people than ever are looking to build with reputable companies who they can trust. There are different strategies to build a network marketing business for the owner and for the distributor. A recommendation would be to integrate technologies which will optimize your leverage in reaching the highest number of qualified prospects.

Article Source: http://EzineArticles.com/?expert=Taigh_G._Smyth

Successful Businesses and Employees Identify With Company Mission and Vision Statements

Successful businesses agree. Statements do not make vision a reality. People do: the right people in management and employees, the right shared understanding of the company mission and vision statements and the right actions and goals that support those statements. And both must have real commitment, not merely compliance. Sound too difficult? Well, it is happening and it's happening in companies large and small that recognize the true partnership of management and employees in its success.

"What you need is a clear and meaningful mission statement and vision statement to define what your business must accomplish, a strategy for the journey, a clear set of values to guide the way and leaders who trust people enough to give them the power to work passionately" writes author and business consultant veteran in Mission and Vision Statements: Your Path to a Successful Business Future.

Too often HR departments or head-hunters fill an employer's need without researching the real talent of the prospective employee. The old management style of "getting the most out of someone while setting aside the best" does not encourage good management skills or employee satisfaction in today's business environment. Just filling a vacancy should not be the defining action of a successful business or as an applicant, for future employment. Most people interviewed for a position within an organization can typically fill more than one and often do not have the opportunity to discuss their real achievements that could translate into a highly valued employee. Today's good business practices see the error of this process.

"This is where mutual understanding is built with real and well defined mission and vision statements that truly reflect the business. The management knows what it needs for its strategic plan and so do the employees. Because the commitment is there by both, real sustainable goals can be planned and also reached" he continues. "Even more importantly when an opportunity presents itself, it is not likely to be missed, by either the business or the employee."

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

Tying a Company Mission and Vision Statement With a Guiding Principal

"Quality means the world to us" says Motorola.
"The world on time" states Federal Express.
"Quality, Service, Cleanliness and Value" says McDonald's Restaurants.

Ever wonder where those great mottos for major companies come from? They aren't mission statements, nor vision statements; not exactly an advertising slogan, though they can serve as an effective motto in advertising say some. Your Guiding Principle is a brief statement that distills the attitudes of you and your employees and sets your company's image for your services or product.

If one were asked to write the mission statement for the Polaroid Corporation, it might say some-thing like: "Design, build and market photographic products giving instant gratification to amateur photographers." The key phrase is instant gratification. All of Polaroid's efforts, whether seen internally or externally, are organized around the idea that there is a vast market for photographers who get their pleasure from the finished photograph, not the process leading to it. Instant gratification is the organizing or Guiding Principle of Polaroid's efforts, whether they be engineering, manufacturing or marketing.

A good Guiding Principle speaks to your company's future direction and values in a few words. Your Guiding Principal communicates the vision by capturing the essence of what your organization will be. Too often the commitment of developing first a mission statement , then a vision statement is short changed by the use of a clever motto. Management has nothing to engage its goals or its employees. But when a motto or guiding principal is arrived at following the process of a stated mission and vision statement, the collective effort provides a common destination.

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

Clarify Your Vision of Your Business to Make Bigger Profits

If you are currently getting very poor results from your marketing, or you are starting out in business, I suggest you take a few minutes and evaluate your business.

Take a look at your market.

There are four crucial areas to cover in your evaluation. Take a look at your vision for the company, Take a look at your goals for the operation and identify your primary course of action. Above all, take a look at who you serve. Many business people have been hoodwinked into a crazy supply-side version of business management that states "if you build it they will come". It's not enough to build a better mousetrap if no one is interested in trapping mice. Big ideas are useless if you do not have a market for them.

It means you then have to spend a lot of energy convincing people that they need to trap mice. Consumers (even if you are business to business), drive demand. Demand must be satisfied and if you are in a position to successfully satisfy the market at a reasonable rate of return, you will do very well.

Think about the vision

Your vision is a picture of your ideal future and forms the foundation for your commitment to your business. It identifies the reasons your company exists and what you and your company aim to accomplish.

Establish your goals

Do you want to make $150,000 in personal income from your business? How much will your business have to make in order to afford your salary? Can you break down the steps it will take to earn the gross income that it will take to pay you and earn a profit? These are just a few of the questions you will need to ask yourself.

Who will your company serve?

This is the question every business must ask itself regardless of size each year in order to survive. If the company serves the boss and ignores the clients, how long will the company stay in business? If the company ignores the boss and serves the clients how long will the boss be around? Obviously we are looking for a balance. Just remember that all components are inter-related. You cannot sell to people who cannot buy.

Once you have connected with the above fill out a one page summary with the following statements:

1. Purpose statement.
2. Mission statement.
3. Descriptive Narrative of the company.
4. Values to which the company aspires.

You will share it with all the people involved in your business and remind yourself of it each month. It doesn't have to be cheesy or hokey just factual and clear. You will be able to see positive results in your business within 30 to 90 days after clarifying your vision.

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

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