Category: Business Management

The idea of a brand is deeply rooted in the psyche of managers as being associated with the delivery of tangible products to consumers but today we are increasingly delivering intangible services rather than goods so is branding still relevant. Traditionally a business has been viewed by senior management as split into discrete divisions, sales and marketing, production, HR, IT, legal and accounting. Some divisions created revenue and b the brand identity was important for customer recognition and action needed to be taken to maximize that while other divisions created cost that reduced the brand value and this needed to be cut. Following this methodology would logically result in increased profits.

This led in practice to highly dysfunctional decision making with, for example, IT staff being cut only for decreased effectiveness across the business producing reducing sales generation and increasing costs in other parts of the business.

Decreased profitability was the result of making otherwise perfectly logical business decisions based on KPI metrics.

The Balanced Business Scorecard seeks to address this dysfunctional approach to business management and looks at how the entire business operates as a cohesive, holistic whole. Viewing all divisions of the business as creating value allows for logical rational business decisions that do lead to increased shareholder value and enhanced profitability.

Is measuring traditional brand metrics still relevant?

The blunt answer is yes, the company brand is perhaps more important than it ever has been but how the brand is being used has probably altered greatly as is how the value of a brand is perceived not just by customers but also by shareholders.

For many listed companies the value ascribed to the company brand accounts for more than a third of the company share value. In many instances, brand value accounts for far more than that. The issue is how do we measure brand value and what metrics are available for us to use as part of a Brand KPI tool.

Using financial metrics for brand performance measurement you will find the following as the primary metrics to monitor and analyze:

– Sales Generation – measures brand as a factor in the purchasing decision
– ROI – measures the ROI using the accounting goodwill value and treating it as any other balance sheet asset
– Transaction Value – looks at the contribution from product lines and product mix and the impact of the brand on that contribution
– Growth Sustainability -this is a measure of how much the brand is contributing to sales rate growth without the business introducing further investment to gain that market share.

Financial value is probably the simplest metric to determine as we can extrapolate “goodwill” valuations using accounting and financial data coupled with share price information. At least with share pricing information we have a set finite value that the market is placing on our business and the financial accounting information can give us a basis for determining how much of the price the market will pay for a share is determined by the valuation of the goodwill.

Measuring brand perception and performance is trickier as we dealing with nebulous concepts that we know have an impact but cannot directly measure. Performing customer awareness surveys will help in providing a measure of how well known the brand is with consumers in a given section of the population or target market segment. All of these can be measured but the metrics that are produced are based upon subjective questioning and even more subjective answers.

To create a stable financial foundation, it is important to review your past remembering your restraining opinions and worries around money. Reviewing your financial history and thinking patterns will help you identify the blockages to your financial security. Being mindful of your financial obstacles gives you the opportunity figure out when you accepted these thoughts. It will also help you eventually reconfigure your financial plan to be financially secure. It’s astonishing that people are repressed by restricting anxieties and views about money. This understanding of money has been rooted in us from our experiences, environment and what we were told about money.

I use a three step process to help my clients understand their money attitude. The three steps are realization, perception and remodeling. The first step is to become conscious of your money mental blocks. The next step is to comprehend when and where these beliefs started. After you have determined what the limits are and their origin, the final step is restructuring that specific thought to an affirmative view.

Below is an outline of three steps to uncover past experiences that may be replaying in your sub consciousness.
Familiarize yourself with your money background: Working with clients, I request straightforward explanations to intriguing questions regarding money in their childhood and how money has come to them in the present. Ask yourself the questions below to help pinpoint contrary beliefs that may be hindering your progress.
What is the money history from your childhood? What did you observe, experience or listen to regarding money?
Who taught you about money? Who was the significant person that affected your thinking about money?

Comprehend the effect your money history has on you currently: After classifying your past experiences and observations about money, you will next review the way this story influence your money actions and decisions. Ask the next questions below.
In what ways did past money experiences and observations appear in your current behavior? This includes, monetarily, your feelings, materially, faith or religion. It also includes any other affects these moments have had on your present life.
What is the bottom-line idea in the money story? Some examples are:
I dont manage money well.
Too much money will decrease my faith.
I dislike people that have lots of money.
Doing work you enjoy will not make you wealthy.

Recondition your behavior: After becoming knowledgeable of your money history and its affect on your current actions, you are now ready to reorganize your thinking. One of the best methods to re-program your thinking is by placing a rubber band on your wrist and snapping yourself for every negative thought that surfaces in your mind regarding money. This works because you become upset and sore from this action. In case you want a milder path, keep a journal to record of every negative thought and prove why its false. Write down the instances, where your life has demonstrated the opposite.Being completely honest, I went through this process a few times discovering deterring beliefs about money that I have accepted subconsciously through life. My parents gave me excellent money management knowledge and also implanted that financial security derives from money earned and perks. Basically, being an employee provides financial security – but this belief is not supportive for a business owner. I changed my thoughts to believe that I could depend on myself.

This practice of analyzing your money beliefs can be more significant than creating a financial plan or knowing your current financial position to decrease debts and accumulate wealth. You need a strong financial foundation which is your conscious and sub conscious state of mind.

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To become a successful internet marketer you will need to develop certain skills that are key to that success. One of the key skills that you will need to learn and use is time management. Managing your time the right way is a very important aspect of running a healthy online business. The truth of the matter is, if you are not managing your time correctly your internet business may encounter negative effects. In this article you will get to see what some of he negative effects are.

Falling behind in your work. Because there are so many different tasks and operations that have to be done to run a successful internet marketing campaign, from setting up your salespage, to driving targeted traffic to that site and much more. Without the proper management of your time it is easy for any individual to fall behind.

Loss of organization. Poor time manage management can often lead one into major organization problems, Being unorganized can cause you to lose track of what is that you should be doing at a particular time, or place, also loss of valuable and important information pertaining to your business. Wasting valuable time because you have to figure out what you did or didn’t do. Where you left off or where to start. This can be avoided by having a simple daily list of thing you want to do, this is a way to begin to keep track of what you have done and what you need to do.

Becoming overwhelmed. Another negative effect of not managing your time is the ability to become overwhelmed with the many tasks that must be done to operate your internet business. Operating a successful online business has many aspects and can take a lot of time. If you end up spending to much of that time on only one aspect of your business… say, your website graphics, or getting it perfect in your eyes, then you may run into the problem of neglecting other necessary task involved with your businesses success, like getting targeted traffic to that website, or optimizing that website to ensure top page rankings in the search engines. This approach can lead to you finding yourself overwhelmed with a lot of task not implemented or finished.

Playing the catch up game. Now that you have fallen behind, no organization, and having become overwhelmed, you can find yourself in the awkward position of attempting to play the “catch up game”, trying hard to get yourself back in a position where you are in control of what your next task will be, also when and how it will be completed. Playing this catch up game can move a individual to a point where they may even want to give up on their project. My advice to you is to take a little time to think it over, relax, and come up with a workable plan. Giving up will only lead to failure.

Loss of focus. Losing your focus and becoming vulnerable to distractions is another symptom of poor time management. Managing your time correctly should ensure that you have your workday scheduled out. Distractions are bound to pop up during the work day, how you handle them is what is crucial. Keeping focus on those tasks that you have scheduled out for your work day will help you resist the urges to fall prey to any distraction that may surface.

Because most internet marketers start their businesses from home it is easy for many distractions to pop up. I found it a very good idea to make sure that individuals in my life know when my work hours are and that during this time I do not want to be disturbed unless necessary. This works well because these are people pulling for your success also. Limit phone calls to business calls during your work hours. The important thing is you need to get the distraction time under control and to a minimum.

Loss of potential income. Now we come to the bottom line, that is that “time is money” especially when you are in your own internet marketing business. If you are wasting time and not getting the needed tasks done to promote your business the right way, you will not make money. Improper time management can lead to loss of income and eventual internet business failure.

Midsize companies are no longer inconsequential entities in the industrial sphere. With emerging market and business operations opportunities available worldwide, midsize companies have grown their industry share to great heights. Globalization has paved the way for new growth avenues for such organizations. However, globalization also translates into stiffer competition and complex management issues. This calls for an integrated approach towards multi-site business operations, in order to grab market opportunities and render substantial profits.

Using SAP Business One to Integrate Multi-Site Operations
Most midsize companies are constantly on the lookout of new market opportunities. However, more often than not they are confronted with the bitter reality that their IT infrastructure is incompatible with multi-site operations. Dealing with inadequate IT infrastructure, while trying to remain competitive, can lead to midsize companies falling into a spiral of negative productivity and subsequent losses.

The answer to this dilemma is now available in the form of SAP Business One; a software-based, cost-effective solution to multi-site business complexities. This software provides a comprehensive scalable multi-site, multi-country and multi-currency IT platform to drive business growth.

SAP Business One is an integrated approach that addresses sales, distribution and finance. Specific benefits offered by SAP in terms of managing multi-site operations are:
1.Local regulatory requirements: SAP Business One has the flexibility to comply with the local regulatory requirements of different business locations.

2.Multi-language support: When a business expands overseas, language becomes a barrier not only to communication, but also to conducting purposeful business. SAP Business One comes with functionality that supports multiple languages. Therefore, business documents, such as invoices, quotes and purchase orders, can be readily prepared in different languages.

3.IT support: The growth appetite of midsize companies is often thwarted by incompatible IT systems. SAP Business One works as an upgrade to the company’s existing IT infrastructure. It allows the prevalent common platform to integrate IT infrastructure at multiple locations and handle them with ease.

4.Work flow automation: SAP Business One offers the functionality to automate several business processes. It, therefore, becomes possible to manage complex business operations, such as payroll, deliveries and contracts, with just a click of the mouse.

5.Future expansion: With enhanced speed and efficacy in handling systems and processes, SAP Business One provides tremendous support for future expansions. Furthermore, it has the flexibility to accommodate future endeavors while maintaining efficiency.

For midsize companies, speed and flexibility are critical to sustaining a competitive edge. SAP Business One provides an all-in-one integrated IT resource that will ensure success.