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Will You Add? - Effective methods of doing business online!
Internal Customer’ is a phrase often heard in business. Usually this refers to one department (the internal customer) receiving work from another department (the internal supplier).But this phrase has become widespread and is now applied to branch offices, field officers, repair centers, distributors, night shifts, contract workers, parking lot attendants, bosses, employees, job applicants and even retirees.Motorola has more than one thousand service agents in China repairing and upgrading consumers’ mobile phones. Motorola provides spare parts to the service agents, making the agents ‘internal customers’ of Motorola. But Motorola pays labor fees charged by the service agents under maintenance contracts. So Motorola is also an internal customer of the agents. This could be confusing.It gets worse when more than two parties are involved, or when people say ‘The Customer is King’ and then argue over who should be treated more ‘royally’!I think the phrase itself is out-of-date and proble
Free small business accounting software primarily focuses on assets. Assets may be described as valuable resources owned by a business, which were acquired at a measurable money cost. As an economic resource, they satisfy three requirements. In the first place, the resource must be valuable. A resource is valuable if it is cash/ convertible into cash; or it can provide future benefits to the operations of the firm. Secondly, the resource must be owned. Mere possession or control of a resource would not constitute an asset; it must be owned in the legal sense of the term. Finally, the resource must be acquired at a measurable money cost. In cases in which an asset is not acquired for cash or a promise to pay cash, the question is what it would have cost had cash been paid for it.The assets in the balance sheet are listed either in order of liquidity- promptness with which they are expected to be converted into cash- or in reverse order, that is, fixity or listing of the least liquid (fixed) first followed
Consider this:
According to an annual study of Internet trends by marketing research firm Ipsos, almost two third of Internet users in the United States have by now purchased a product or service online. That’s a dramatic increase from only 36 percents of respondents in 2000. Studies show that more than 35.5 million U.S. Internet users made shopping trips to web shops during the week ending November 3, 2002, which is roughly 14 million more than almost the same time period in 2001.
While the hype over the new economy is maybe over, one thing is for sure that Internet has revolutionized the way we do business and positioned itself as one of the biggest and most unique sales channels. Many companies, finally, started to realize that their very existence may get jeopardized if they are slow in integra
As I opened my mailbox, I did what most folks do when they get their mail…I turned into a humanized version of a mail sorting machine. Within an instant, I have already identified junk-mail, a few bills and a stack that requires further investigation to determine if it’s worth keeping or belongs in the trash can.But today was no ordinary mail day. Today, I was given a mild heart-attack by what I found in my mailbox.As I sorted through the week-old stack of mail, an envelope jumped out at me and instantly had my full attention. Not only did it have my full attention, but it had already created an emotional response within my body. My heart rate raised, blood vessels tightened and my breathing pattern increased.I’m not exaggerating here, this is 100% true…The envelope had a logo that is instantly recognizable to any grown adult in America. The envelope appeared to be from the I.R.S.Since it wasn’t tax season and I own a business, I instantly thought I was being audit
Consider this:
According to an annual study of Internet trends by marketing research firm Ipsos, almost two third of Internet users in the United States have by now purchased a product or service online. That’s a dramatic increase from only 36 percents of respondents in 2000. Studies show that more than 35.5 million U.S. Internet users made shopping trips to web shops during the week ending November 3, 2002, which is roughly 14 million more than almost the same time period in 2001.
While the hype over the new economy is maybe over, one thing is for sure that Internet has revolutionized the way we do business and positioned itself as one of the biggest and most unique sales channels. Many companies, finally, started to realize that their very existence may get jeopardized if they are slow in integr
Recently I was interviewed by Marketing Magazine, a local magazine in Singapore that keeps close tabs on the marketing strategies companies of all sizes use to reach out to their consumers. I thought that this is an excellent case study of how important positioning, branding and marketing are for your business.For their feature story on Branding, the magazine asked for my comments on Creative Technology’s (renowned for its sound card and MP3 players, and most recently for its legal tussle with Apple) branding efforts. While I’m a fan of Creative, I have to say that their branding leaves much to be desired. In particular, comparing the arch rivals of Creative Tech’s MP3 players vs. Apple’s iPod, it is easy to see where Creative’s branding efforts had gone wrong. Below is a simple comparison of its rival’s branding moves.Apple (A marketing and branding savvy company) 1. Understands the target market—young people want to be hip and cool. So they created a hip and cool
While the hype over the new economy is maybe over, one thing is for sure that Internet has revolutionized the way we do business and positioned itself as one of the biggest and most unique sales channels. Many companies, finally, started to realize that their very existence may get jeopardized if they are slow in integr
Have you ever considered how to launch a public relations campaign in a community when your company profession or industry is not so glamorous? Consider if you will a Air Conditioning and Heating Company. What sorts of community spirited public relations campaigns can you do with such things?Well how about setting up or participating in a Neighborhood Mobile Business Watch Program, sponsored in part by the Chamber of Commerce and the local police department? Consider if you will the following observations;AIR CONDITIONING COMPANIES: Heating and Air Conditioning Companies often work for commercial properties on roofs, a great vantage point and totally unexpected. They usually have many vehicles. They have constant communication. Their owners are usually very involved in city and civic affairs.They also work in apartment complexes and low income housing areas where a higher percentage of crimes are committed due to density. They work in commercial malls and centers. More cars are stolen at reg
While the hype over the new economy is maybe over, one thing is for sure that Internet has revolutionized the way we do business and positioned itself as one of the biggest and most unique sales channels. Many companies, finally, started to realize that their very existence may get jeopardized if they are slow in integr
I was reading an article on Seeds of Growth on how individuals impact the branding and goodwill of an organisation. I found it quite easy to parallel to what they were saying about Corporate Branding and what I call Company Culture.See I'm a consultant that helps companies with divestments, carve-outs, post mergers, or post acquisitions. After the deal is done, I'm usually appointed to guide the organisations through all that is involved in the merger, and make sure they derive the value from the deal. Sometimes this gets lost in transition - people tend to focus on what's easy or important to them.The Seeds of Growth article was saying that there are two kinds of brands, an employer brand that "defines clearly defined it will enable us to attract and retain the talent we need in today?s increasingly competitive market place to deliver our strategy and goals." The second is a personal brand - this is what makes us different, the way we think and the way we act.See in a merger or acquisition,
But the question still remains - is there any effective method of doing business online?
Below I have outlined some components crucial to any online venture. While these might not be the only vital components of web based business, understanding them correctly will significantly improve your chance of doing online business effectively.
Business Plan
Business plans are like road maps. Imagine, you ended up in a unfamiliar town and you have to find an address without a map! How would you feel? Definitely, you would have been much better off with a map of the locality! The same thing goes for business plan. Though, many successful ventures may have been started without the benefit of a formal business plan, a good business plan improves your chances of success and help you avoid many mistakes.
A recent AT&T study of successful entrepreneurs shows that businesses are
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