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Add You - Benchmarking as a Way of Strategic Planning Approach to Business Success
After a careful marketing strategy, your customers are finally pursuing you. They want your goods, they want your services – but how do you know you have a marriage and not just a bad blind date? You want your customers to return in droves, if for no other reason than because, according to the Better Business Bureau, gaining the trust of a new customer is five times more expensive than continuing a relationship with a current one. The best way to maintain a successful relationship is to stop treating your customers like customers and start treating them li
He further explained how he interpreted these events in the business sense. He quoted why these success stories exists? He quoted for example that in military, while discipline is key to operation, the next important factor is the alignment where all solders follow one direction. To reinforce these factors, all solders have to wake up 5 in the morning to break down your normal self. The objective is to force the solders to get out of their comfortable box.
In business strategies, there is no sure win s
If you’re really interested in using your e-newsletter to add value then you’re probably already measuring it in terms of conversions. You might be calling those conversions opening rate, click-through rate, seminar signups, sales, whitepaper downloads or a range of other metrics. Regardless of how you measure conversions you’re almost certainly trying to improve your results and testing is the only way to consistently do that.What’s more, if you’re like most people you’d be happy to improve those conversions a few percentage points on each e-newsle
In regular Strategic Planning, it is fair to mention that is time consuming for team member use various tools to analyze the business and competitive environment. The choice of PEST, 5-forces or SWOT very much depends on the complexity and competitive position of the business. These tools assist us to understand the business scenarios and competitive environment as well as internal capabilities.
I was in the Budget Roll-Out session conducted by one of the companies I worked with. It is a regular event at the end of the financial year. The CEO of the company communicates what has transpired between his management and the shareholder of the company during the budget review session.
During the session, the CEO of the company reinstated the company direction and give a presentation of the business outlook and without failed, he presented the company performance expectations and a total picture of the business scenario.
In between his talk, he quoted several examples of Best-Of-The-Best: case studies by several successful companies such as Honda USA, Porter-Gamble, Nike in the OEM and Li-Fong in Asia also in OEM; and changes in landscape in the Banking Industries in Malaysia.
In his strategic development process, he selected a few best practices by these companies and balanced them with his business environment. He then developed a hybrid strategy called the orchestra model. He advised the participants that during his dialog with some of the CEO of these successful companies, they are neither Marketer not Engineer by profession. Most of them came from a background of military.
He also quoted Wall-Mart, how the power of Critical-Mass can breakthrough a market like Japan. How Wall-Mart strategize to market a pair of suit that is so affordable for daily change for the Japanese working class.
He quoted that when a new candidate join the military, one main thing that he will not be send to train in handling a gun or some sort of weapon. However, the first day of reporting to duty is to shave off his hair on the head. Once it is done, he has to take a shower and changed on to a new set of military uniform. The next morning, they will be wake up at five in the morning for a morning exercise.
He further explained how he interpreted these events in the business sense. He quoted why these success stories exists? He quoted for example that in military, while discipline is key to operation, the next important factor is the alignment where all solders follow one direction. To reinforce these factors, all solders have to wake up 5 in the morning to break down your normal self. The objective is to force the solders to get out of their comfortable box.
In business strategies, there is no sure win st
During a recent seminar I gave located in the suburbs of Philadelphia, I discussed something called, "metadata". When I asked whether anyone ever heard of metadata, I was confronted with blank stares. This is exactly why I decided to write here about what it is and how it can impact your company.Metadata is information that exists in Microsoft Word, Excel, and PowerPoint files. Metadata is simply “data about data”, and your electronic documents probably contain lots of it. Metadata describes document attributes such as the title, author, content, l
I was in the Budget Roll-Out session conducted by one of the companies I worked with. It is a regular event at the end of the financial year. The CEO of the company communicates what has transpired between his management and the shareholder of the company during the budget review session.
During the session, the CEO of the company reinstated the company direction and give a presentation of the business outlook and without failed, he presented the company performance expectations and a total picture of the business scenario.
In between his talk, he quoted several examples of Best-Of-The-Best: case studies by several successful companies such as Honda USA, Porter-Gamble, Nike in the OEM and Li-Fong in Asia also in OEM; and changes in landscape in the Banking Industries in Malaysia.
In his strategic development process, he selected a few best practices by these companies and balanced them with his business environment. He then developed a hybrid strategy called the orchestra model. He advised the participants that during his dialog with some of the CEO of these successful companies, they are neither Marketer not Engineer by profession. Most of them came from a background of military.
He also quoted Wall-Mart, how the power of Critical-Mass can breakthrough a market like Japan. How Wall-Mart strategize to market a pair of suit that is so affordable for daily change for the Japanese working class.
He quoted that when a new candidate join the military, one main thing that he will not be send to train in handling a gun or some sort of weapon. However, the first day of reporting to duty is to shave off his hair on the head. Once it is done, he has to take a shower and changed on to a new set of military uniform. The next morning, they will be wake up at five in the morning for a morning exercise.
He further explained how he interpreted these events in the business sense. He quoted why these success stories exists? He quoted for example that in military, while discipline is key to operation, the next important factor is the alignment where all solders follow one direction. To reinforce these factors, all solders have to wake up 5 in the morning to break down your normal self. The objective is to force the solders to get out of their comfortable box.
In business strategies, there is no sure win s
The main reason for buyer resistance and selling stalls boils down to one simple fact: the reasons for not buying are bigger to the prospect than the reason to buy.If you sell an intangible product or service, it may be even tougher to close down a sale because your product or service is not something people can see, touch, or feel. So the reasons for your prospects to buy have to be vivid, logical, and emotional. There has to be a reason for them to buy NOW, or they’ll put off making the decision until later.When you sit down with a prospe
In between his talk, he quoted several examples of Best-Of-The-Best: case studies by several successful companies such as Honda USA, Porter-Gamble, Nike in the OEM and Li-Fong in Asia also in OEM; and changes in landscape in the Banking Industries in Malaysia.
In his strategic development process, he selected a few best practices by these companies and balanced them with his business environment. He then developed a hybrid strategy called the orchestra model. He advised the participants that during his dialog with some of the CEO of these successful companies, they are neither Marketer not Engineer by profession. Most of them came from a background of military.
He also quoted Wall-Mart, how the power of Critical-Mass can breakthrough a market like Japan. How Wall-Mart strategize to market a pair of suit that is so affordable for daily change for the Japanese working class.
He quoted that when a new candidate join the military, one main thing that he will not be send to train in handling a gun or some sort of weapon. However, the first day of reporting to duty is to shave off his hair on the head. Once it is done, he has to take a shower and changed on to a new set of military uniform. The next morning, they will be wake up at five in the morning for a morning exercise.
He further explained how he interpreted these events in the business sense. He quoted why these success stories exists? He quoted for example that in military, while discipline is key to operation, the next important factor is the alignment where all solders follow one direction. To reinforce these factors, all solders have to wake up 5 in the morning to break down your normal self. The objective is to force the solders to get out of their comfortable box.
In business strategies, there is no sure win s
Preparing a Marketing Plan for your product or service is a real eye-opening experience. While we all hope that our product or service will appeal to the masses, the truth is, that may not happen. Assembling a Marketing Plan first and foremost forces you to clearly define what you are selling.From there, you define the demographics of the market for your product or services. You research on-going or upcoming trends in the industry, your existing and potential competition and whether or not the market is already saturated.And the
He also quoted Wall-Mart, how the power of Critical-Mass can breakthrough a market like Japan. How Wall-Mart strategize to market a pair of suit that is so affordable for daily change for the Japanese working class.
He quoted that when a new candidate join the military, one main thing that he will not be send to train in handling a gun or some sort of weapon. However, the first day of reporting to duty is to shave off his hair on the head. Once it is done, he has to take a shower and changed on to a new set of military uniform. The next morning, they will be wake up at five in the morning for a morning exercise.
He further explained how he interpreted these events in the business sense. He quoted why these success stories exists? He quoted for example that in military, while discipline is key to operation, the next important factor is the alignment where all solders follow one direction. To reinforce these factors, all solders have to wake up 5 in the morning to break down your normal self. The objective is to force the solders to get out of their comfortable box.
In business strategies, there is no sure win s
With franchisees the opportunity needs to be taken to maintain strong lines of communication between them and the franchisor's business. Finding good franchisees is difficult; keeping them is a lot easier.The best franchisees need special nurturing so that a strong relationship can be cultivated with the franchisor. If the franchisor follows basic & simple rules, it will be fairly easy to maintain the franchise relationship and keep lines of communication open.The key qualities that we look for when recruiting franchisees are:1) Strong
He further explained how he interpreted these events in the business sense. He quoted why these success stories exists? He quoted for example that in military, while discipline is key to operation, the next important factor is the alignment where all solders follow one direction. To reinforce these factors, all solders have to wake up 5 in the morning to break down your normal self. The objective is to force the solders to get out of their comfortable box.
In business strategies, there is no sure win strategy. He quoted that the first person who conquer the Mount Everest was indeed failed in his first attempt but he challenged himself again until he succeeded. In summary, in this complex business environment and ever changing landscape, leaders need to adopt to various resources for consideration in developing a business strategy. A generic strategies such as capture more market, reduce operation cost is no longer adequate. Leaders need to have an open mind to capture key advantage of various options and to develop a hybrid strategy to ensure its business successes.
Disclaimer: This article is written by the author based on his practical application experience. All definitions and interpretation of terminology are his point of view and has it has no intention to conflict with experts in similar topic. The author holds no responsibility for the use of this article in any way.
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