How to manage advertising process

Formulating and Implementing Advertising Strategy

Advertising strategy formulation involves four major activities: Setting Objectives, Formulating Budgets, Creating Ad Messages and Selecting Ad Media and Vehicles. Objectives are goals that the various elements aspire to achieve individually or collectively during a scope of time such as a business quarter or fiscal year. [Read more…]

How to introduce The seven wastes (MUDA), By MIE

How to introduce The seven wastes (MUDA), By MIE

The seven wastes

wastes classifications

One of the key steps in Lean and TPS is the identification of which steps add value and which do not. By classifying all the process activities into these two categories it is then possible to start actions for improving the former and eliminating the latter. Some of these definitions may seem rather ‘idealist’ but this tough definition is seen as important to the effectiveness of this key step. [Read more…]

How to introduce 5 S

How to introduce 5 S

5slinks

5S was developed in Japan. It was first heard of as one of the techniques that enabled what was then termed ‘Just in Time Manufacturing’. The Massachusetts Institute of Technology’s 5-year study into the future of the automobile in the late 1980s identified that the term was inappropriate since the Japanese success was built upon far more than components arriving only at the time of requirement. John Krafcik, a researcher on the project, ascribed Lean to the collective techniques being used in Japanese automobile manufacturing; it reflected the focus on waste in all its forms that was central to the Japanese approach. Minimised inventory was only one aspect of performance levels in companies such as Toyota and in itself only arose from progress in fields such as quality assurance and Andon boards to highlight problems for immediate action.

[Read more…]

How to conduct Failure Mode and Effect Analysis, FMEA

How to conduct Failure Mode and Effect Analysis, FMEA

By Mahmoud Elhefnawi

What is FMEA?

20120731_floodgates

The System FMEA is a team-oriented methodology for minimising the risk of the development and it stimulates the interdisciplinary co-operation between the affected areas already in a very early stage. Furthermore, it provides a documentation of knowledge within the company.

[Read more…]

How To Build A Disruptive Organization: By Andreas von der Heydt

How To Build A Disruptive Organization:

By Andreas von der Heydt

 

 

In todays hyper-competitive times competition is not just on brand, product, and technological innovation. Its also and foremost – on the business model.

Surprised? Disturbed? This might be possible, since youre not clear about what your business model and strategy really is, arent you?

Unfortunately, something you will not be able to afford any longer. Neither content nor technology is king… its disruption! Disruption can be caused by the introduction of products, services, or business models either in new or existing markets in such a way as to shake up the industry and eventually to oust established players.

Remember fixed line telephones? Remember then cellular phones? And afterwards? Not just a next generation of technology. Instead, a new business model: smart phones on the one side, andSkypeon the other! And tomorrow… Smart watches?

Well, its pretty obvious that the old guard, and almost every industry, are being challenged by a countless number of cutting-edge business models. ThinkNespressofor example. I like my daily cup of itsLungo Leggerofrom their famous refill capsules. Good quality plus excellent marketing (thanks also to George Clooney and John Malkovich). Thats all? By far not! What Nespresso actually achieved was to lock in consumers (including myself) by having created a new business model which generates repetitive sales and profits.

THREE BASIC STRATEGIC OPTIONS FOR DISRUPTORS

In general there are three options for a disruptive and visionary game changer:

Firstly, you develop your own disruptive business model (explained in more detail below). Second option, you develop further the existing business model in the current industry or in adjacent industries and categories. Nestl, for example, is transferring Nespresso into the tea category with its Special.T concept.

Third option, you take an existing business model – lets say something like the Nespresso business model – and apply it to (completely) different industries. Meaning to deploy existing and proven principles elsewhere.Apple,Google,Samsung & Co. have been doing it already by developing their own Nespresso-like ecosystems.

DESIGNING A DISRUPTIVE ORGANIZATION

If youd like to apply a more entrepreneurial perspective to business modelling and to become someone who wants to create tomorrows businesses, to find new and innovative ways to excite customers, and to replace outdated paradigms and strategies, then the following principles might be useful:

1. Understand the business you are in, evaluate, and specify your current business model.Its an obvious starting point. However, not many would be in a position to give a truly succinct answer to it.

2. Evaluate where your customers, your industry and adjacent industries/categories might evolve to in 5 10 years.Will your existing business model and associated products and technology still fit? Will a process of continuous innovation be sufficient to satisfy and to excite customers?

3. Decide to be a disruptor – even a self-disruptor – and take the lead.Also, and especially, in the new age of disruption there is nothing as powerful as the traditional first-mover advantage.

4. Broaden your scope and imagine the impossible.Look far outside of your current thinking patterns and industry boarders. Future revolutions and competition most likely will also come from what you currently might consider unrelated products, services, and industries. Think without Limits and Limitations. Consider yourself as an active subject rather than a passive objective.

5. Ensure that the new concept is simple, accurate, holistic, easily understood by all stakeholders, and at the same time not oversimplifying relevant aspects. Be specific about future customer segments (including their volatile needs and wants), your value offer (including pricing and promotions), your customer interactions, your partnerships and alliances (including virtual networks), your distribution and communication channels, and your required key resources.

6. Try to set up a business model where you can integrate so-called switching cost, i.e. think about how you can keep your customers within your system by offering them distinctive, cost saving, and value-adding advantages.

7. Replace cautiousness by bold and strategic consideration.Disruptive strategies will be driven by speed and audacity. In the short-term they might even cannibalize (part of) the existing business and/ or decrease profits, since starting margins might be lower. Apply a long-term perspective and resist short-term focused investors and management.

8. Apply new business metrics.Put revenue, cost, market shares, and profit into a new context and link them with a modified weighting and time frame. Of course, they will remain important. No doubt. They will need to be complemented, however, by criteria such as customer engagement, customer excitement, number of disruptive ideas, and the capability and ability to invent new business models.

9. Establish an entrepreneurial spirit in your organization.An environment should prevail where employees are willing to take risks. This would increase intrapreneurial conviction and drive. It also binds the corporation in an implied contract not to stop the internal disruptor for any reason other than poor performance.

FINAL THOUGHTS

CouldJohannes Gutenberg, the father of modern book printing, have foreseen the advent of e-books? Most likely not! However, his publishing successors could have been better prepared, if they had applied whatPeter Druckeronce pointed out: “Eventually every theory of the business becomes obsolete and then invalid.”

How else could have Apple transformed from a PC maker to the worlds leading music seller? Although disruption and innovation are similar, disruption goes at least one step further by changing how markets behave, how consumers and customers think, and how we live our lives.

Todays industries and organizations are being transformed by unprecedented scale and speed. Often its not an evolution any longer, but more of a revolution. Time has come for executives, business owners, academics, and employees to understand the impact and in parallel to successfully address the challenges and opportunities of those new business models.

What do you think? What does Disruption mean to you? How to become more disruptive?

Best regards,

Andreas von der Heydt

source:http://www.linkedin.com/today/post/article/20140406142900-175081329-how-to-build-a-disruptive-organization?goback=%2Enmp_*1_*1_*1_*1_*1_*1_*1_*1_*1_*1_*1&trk=object-title

 

Exchanges, Perception, and Satisfaction in Marketing, By MIE

exchange2

The purpose of marketing is to create exchanges that satisfy the perceived needs, wants, and objectives of individuals and organizations. There are three important ideas expressed in this definition: exchanges, perception, and satisfaction, what do they mean ? [Read more…]

Retail Metrics & KPIs to help you stay competitive.

retail kpi1Retail Metrics & KPIs to help you stay competitive.

In the fast paced world of retail having the right metrics and KPIs is essential for staying competitive. If you aren’t measuring it, you are likely missing key facts about your business and are losing out on important opportunities. Retail KPIs keep your business performance in perspective so that when you need to make a business decision, you have the right information to make sure your decisions improve the performance and profitability of your business.

To help get you started, we’ve put together a list of the top 10 retail KPIs and metrics our customers use to monitor their performance.

Sales metrics and KPIs.

sales kpi1Sales metrics and KPIs.

In today’s ultra competitive business landscape, it’s essential that your sales team has an objective view of their performance. The days of relying on “gut feel” are long gone, and maintaining a competitive edge is about cultivating a data driven culture. At the center of that culture is the need to monitor relevant and actionable sales KPIs and metrics.

Knowing which KPIs are important for your sales team can be difficult, which is why we’ve put together this list of KPIs. Check out the top 10 sales KPIs and metrics our customers use.

7 Key Performance Indicators That Every Sales Manager Should Use

KPI sales

KPI sales

7 Key Performance Indicators That Every Sales Manager Should Use

William Tyreeis CMO ofRingDNA

Conventional wisdom holds that revenue-per-sales-rep is the only metric that ultimately matters in sales management. But sales process optimization is all about identifying key strengths and coalescing your team into an efficient selling machine. In other words, management is aboutcoaching your team to success.

When we talk about Key Performance Indicators (KPIs), were talking about leading indicators – signposts along the way that your sales team is doing the things they need to do in order to be successful. Keeping your eye on nuanced, tactical KPIs is one of the best ways to keep your strategy on track. Practicing great fundamentals leads to great outcomes.

Lead Response Time [Read more…]

Evaluating A Service Provider — Is Capital One Best for you

Evaluating A Service Provider — Is Capital One Best for you

Funds One is an organization that is more charge card driven. Additionally, there are some other reasons that people possess travelled to them with regard to financial help. The business, consequently, features a wide reach all over the world and thus, could be a great source of you. But, you might be wondering why they have got such a powerful reputation to achieve your goals. The next helps to demonstrate why this business is so well-known and the criteria which they have fulfilled and exceeded within their visit a strong customer base. Utilize this as your guideline as you associated with decisions which are best for you and exactly what company you intend to use later on.
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