Over the years, we’ve made strategy far more complicated than necessary. Smart people with advanced degrees and high salaries generate elaborate documents containing complex analysis, algorithms, heuristics, scenarios and projections which seldom yield competitive advantage. More than 50% of the 2010 Fortune 500 companies – each with elegant strategic plans […]
In turbulent and uncertain times, it is tempting for companies to wonder whether if they do actually require a strategy. They do. By way of proof, imagine that you find yourself in the middle of a dark and hostile jungle. If you want to get out of the jungle, do […]
HOW TO CREATE AN EFFECTIVE PROCESS FOR DEVELOPING SALES FORECASTS AND MARKETING BUDGETS (PART 2) DO MARKET RESEARCH There are four key factors that will affect the reliability of your company’s market research: the quality and objectivity of the survey process, the size of your market sample, the homogeneity of […]
WORKING FOR THE FUTURE (6): ADAPTING TO CHANGE Managing change is fast becoming a dominant theme of management practice. The pace of change is accelerating as markets become more international and technological innovation increases. Ensure that teams adapt to external changes. Anticipating change Over the course of a team’s life, […]
WORKING FOR THE FUTURE (5): REWARDING PERFORMANCE The object of a successful reward system is to motivate teams to improve their overall performance. Calculate rewards with care, and choose the most appropriate types. Financial and incentive-based schemes – or a combination of both – are popular. Broadcasting Figures When targets […]
WORKING FOR THE FUTURE (4): SETTING TARGETS Targets are vital to the whole teamwork process. They ensure that a product is delivered to the satisfaction of the customer, schedules and budgets are adhered to, and that standards are met. They are also the yardstick on which rewards can be based. […]
WORKING FOR THE FUTURE (3): TRAINING A TEAM Training helps to improve the technical skills of team members and develop the managerial and interpersonal relations within a team. Review and upgrade the skills of a team constantly to meet current and future challenges successfully. Assessing Costs Despite the expense involved […]
WORKING FOR THE FUTURE (2): TRACKING TEAM PROGRESS A good team is aware of the need to remain dynamic. Review progress regularly to maintain momentum, provide an overview, and ask team members, singly or in groups, to define specific aspects of the project that could be improved in the future. […]
HOW PUBLIC RELATIONS CAN HELP SMALL BUSINESSES Public relations describes the various methods a company uses to disseminate messages about its products, services, or overall image to its customers, employees, stakeholders, suppliers, or other interested members of the community. The point of public relations is to make the public think […]
HOW TO CREATE AN EFFECTIVE PROCESS FOR DEVELOPING SALES FORECASTS AND MARKETING BUDGETS (PART 3) Step 2: Evaluate Your Marketing Budget A marketing budget defines how much money your company plans to spend on specific marketing activities, such as advertising, sales automation, over the course of your company’s fiscal year. […]
