Marketing Theory – CCDVTP

CCDVTP stands for “create, communicate, deliver the value to the target market at a profit”, a term that has been popularised by Philip Kotler. It is being considered as an emerging lingo amongst marketing professionals ever since it was coined. This has caught the attention since it connects three ideals that are often existing in silos in marketing organizations. This has been identified as the value chain in marketing, among the other important marketing theories and today, surprisingly has become a buzzword in many interviews for marketing and sales jobs.

Creating value is synchronized with product management, whether the product or service is tangible or intangible. The product is what is the core of value creation, for your customers and also for your firm. Product life cycle management is thus one of the crucial activities in product management. Today, services and products need to be managed so as to deliver quality value consistently. There are many frameworks which enable the product management team create consistencies across delivery of the same. However, creating the best product or service offering will result in no value for the producer, unless the same can be communicated. This is where branding exercises are conducted.

Communicating the value of a product or service is branding and brand management. A highly valued product or service which a producer company may perceive, must also be conceived by the user as having similar value or more. Otherwise the whole exercise of creation of the offering through proper product management strategies, falls flat. Branding enables a firm to rely on the pull strategy rather than on the push strategy, and it has been observed that firms generate higher profitability from the pull strategy than from the push strategy.

Delivering value is synchronous with customer management. Value is generated at the point of consumption of any offering, be it a product or a service. Customer value management is the process by which this value may be tapped successfully to create value for the firm. This is the process by which the results of all the effort taken in creation of value is actually realized by the firm and directly affects the top-line of the firm’s financials. It has been seen that through proper customer management, customer satisfaction increases substantially which in turn reduces churn rate and increases revenue from increasing customer satisfaction.

So what do you think of this new mantra in marketing? We would love to know your thoughts.

Business Process Outsourcing on Cloud

Business Process Outsourcing on Cloud- Reaping High ROI

Cloud brings in a great deal of benefits for different type of businesses, to cut costs and improve efficiency of different business processes. From SaaS to Iaas, there are about countless ways through which business can implement cloud to outsource their critical system and processes.

This article is going to discuss how in-take of cloud based solutions for BPO helps in gathering momentum.

Using Cloud to get The Maxim

You are going to get an ample of examples of where cloud computing has been done, for instance – an organic baby food manufacturer may be using the cloud to streamline its massive logistics, while other firms are thinking to sign up for cloud-based HR services.

This article focuses on the way various BPO companies are picking up clouds from market to test the environment, so that they execute more processes to their clients.

However, there is an interesting caveat to note here, is the suggestion that use of cloud is still in its early steps and 13% of business process outsourcing services is already cloud-based. With cloud call center services are able to cater massive amount of scope to businesses that are able to derive advantage from these benefits.

CLOUD- Driving Benefits for BPO

With cloud computing and business analytics, new life has been injected to BPO sector through reduced upfront costs and better use of data.

IT enabled BPO services has a large role to play, and they can be fine tuned to cut costs, but the best performing BPO deals are using IT to innovate and speculate.

Recent researches affirm that 20% of BPO projects are able to deliver sufficient business value for high performance. The findings from the research confirm the changing role of technology in BPO.

Software-as-a-service (SaaS) means businesses can introduce the applications used in BPO agreements without giving large upfront payments. Business magnets are of the opinion that best-of-breed technology is easily available and are easy to apply.

They further added, earlier BPO agreements are usually overloaded with cost-loaded technology. In past a business have to purchase license and then install heavy-duty business applications as a part of BPO deal, but now they can easily sign up for BPO services and easily scale up and down the number of users.

What is the concept of researchers on CLOUD, used in BPOs?

  • 85% of high-performing BPO considers cloud service provider to be a strategic partner, compared with 41% of typical BPO services
  • 75% of high-performance BPO  involve senior leaders from both parties spending time to understand each other’s objectives and strategies
  • 90% of high performers reported that client and provider were able to productively resolve conflicts
  • 77% of high-performing BPO have successfully executed change management plans
  • 85% of high-performing BPO proactively refine their objectives as the relationship matures
  • 67% of BPO include business benefits beyond cost in the business case, compared with 26% of typical engagements;
  • 58% of will consider service options with greater value, even at higher costs
  • 56% of high performers seek competitive advantage through BPO
  • 64% of BPO places more focus on capturing other benefits as they achieve cost reduction
  • 54% have contract performance incentives in place

A new approach to cloud computing is helping enterprises to recognize more of the business transformative aspects, such as improvements to productivity, business agility and business continuity as they present plans and sells concept to management teams.

Author Bio: Emma Johnson is an outreach expert and is closely associated with lead generation and telemarketing services. She is in contact with inbound order taking services that are popular for their prompt answering services to appease both client and customer with quality outsourcing.

Why should you use a Business Credit Card?

Starting a business is a dream for which an owner plans and prepares. Market research is done to ensure there is a market for the product or service and that it is an area of need for potential customers. You check out a location for a storefront or office and plan all the different ways you’ll be able to promote your business.

What is a Business Credit Card?
A business credit card is much like a personal credit card. A business credit card extends the credit available to the business. When financing is tight, the business credit card can be used to pay bills and buy supplies to keep the business afloat.

Costs
Everything seems to be coming together until you start adding up the costs for starting the business and for keeping it going for a year until there is a regular income stream coming in. There may be costs for licenses or other government requirements, costs for space, internet access, equipment, supplies and employees.

Business Planning
A business plan is a must for making sure an owner covers all the bases and doesn’t lose the dream due to poor planning. A business plan includes listing all sources of potential financing. These may include personal savings, taking out a mortgage on a home or other property and loans from the banks, friends or family. These are all fairly fixed amounts, but business expenses ebb and flow.

Not a Personal Credit Card
Business credit cards often offer different terms than a personal credit card. They also have the larger credit limits required to efficiently run a business. Of course, like a personal credit card, anything spent has to be paid back.

Use Judiciously
Credit cards are loans and owners need to take care to use a business credit card account wisely. Paying back any funds spent needs to be part of the overall business plan. Like personal credit cards, there is the temptation to consider the credit free money and overuse the card. This can undermine the solid financial basis of the company. However, there are good reasons to use a business credit card.

Accounting
Accounting can become a nightmare for the small business owner, especially when supplies and products are purchased with different accounts. Keeping receipts together can get frustrating and putting everything together difficult for an owner who already has way too much to do just keeping the business running.

If, however, everything is purchased on a business credit card account, the business will have all expenses listed in one place. The owner can quickly check when something was purchased, where it was purchased and for how much. This proof is invaluable should the government call into question, at tax time, whether something was purchased and whether one or more purchases qualifies as a deductible expense. A business credit card also keeps tabs on the purchases of employees.

Perks
Business credit cards, depending upon the card, offer a variety of perks that assist the business owner from discounts on supplies to free flying miles.

Author’s Bio: The articles of Ethan Grunt have been proving very useful for the customers who look forward to get information on business credit cards. He suggests them to visit Businesscreditcards.com for further information.

Avoid Investing in Facebook – Investment strategies

Avoid falling flat on your Facebook. The fall and fall of Facebook’s stock has been the stuff of investors’ nightmares. Starting with a stock price of $38, by 31st August the stock had lost approximately 52% value with no sign of a bounce. The real issue isn’t just Facebook’s shares so much as a lack of probity in investments these days and many businesses who choose to ‘float’ may find there’s a leak in their boat.

The average duration for a shareholding in the USA currently stands at an almost instantaneous 22 seconds!

Compared with an average holding of 8 years in the 1940’s, the stock market has become the ‘get rich quick’ scheme (substitute ‘dream’ for a more apt description) of the 00’s. Shareholders just aren’t in it for the long game any more and this creates a multitude of problems for businesses great and small.

The demand to create shareholder value overnight keeps many an Executive Suite buzzing into the ridiculous hours of the night; sees downsizing and corporate initiatives bluntly delivered across departments to deliver savings and greater profit margins and dissatisfaction in the stock market quickly translates into a knee jerk reaction kicking the HR department into action, moving from co-production to consultation as the company’s most “valuable assets” become “deadweight” creating drag merely as a result of bottom line cost.

Shareholder value, as a concept, is fine but it’s become very one directional in recent years and creates little benefit for the business, less a short term cash injection and longer term drain on your profits and profitability.

Before you launch your business into the choppy stock market seas, consider a few alternatives:

  • Raise additional funds through other means:

Investment pots and pensions aren’t delivering growth in low interest economies just now.

Money in the bank is more of a tax liability than a cushion.  Get family; friends and acquaintances to consider becoming a minority investor in your venture with the prospect (but no guarantee) of long-term returns;

Ask – “Do I really need to grow?” Many businesses chase growth like a dog chases it’s own tail.  It’s the perpetual motion that creates the illusion of progress when, in reality, you’re just expending energy chasing an elusive, moving and often undesirable target. Growth’s not a bad thing; it’s just not the be all and end all of business.  Sustainability and longevity are much more important.

Grow from within:  Re-invest your profits.  It’s the simplest and most economical way of growing any business; it doesn’t sell off any part of your holding and doesn’t expose it to the jitter of shareholders demanding short-term results.

Or consider selling shares to the employees and give them a stake in their own sweat and toil.

Consider the 3 C’s:

  1. Co-operation
  2. Co-production
  3. Collaboration

You don’t need to do it all on your own.  Find other businesses or individuals that are either doing something similar and work together to increase market share or find complimentary products and services and share the costs of increasing your joint offer to the market.  Cross selling could help you both.

All these options allow you to retain control of your business and keep your long-term goals in focus.

If you decide that you do want shareholders, make sure major shareholders you bring in possess more than just the financial wherewithal to invest.

Get investors that are passionate about what you’re trying to achieve; who have experience and expertise in an area that’s relevant for your business and that can actually add something to the business and the Boardroom (other than banging fists; a scary glare and the demand you make them rich instantly or they’ll withdraw their investment).

That way, when the storm hits the good ship (insert your company’s name) you can call all hands to deck rather than your shareholders racing to the lifeboats as the rest are left to bail out.

Bio:  Colin Millar is an entrepreneur and Founding Director of Cloud Management Systems [Link: CloudManagementSystems (.) co( .)uk ], a consultancy with a difference.  Colin is also the Chairman of a Scottish based charity. Colin blogs on leadership, management; business and enterprise.  In 2011, he won the Chartered Management Institute’s ‘Top Blog” award.

Happy Independence Day for all Indians

To all our Indian readers, we wish you a happy independence day. May the 66th independence day usher in a new era of growth, economic and social prosperity and development for all the citizens of our motherland. While we celebrate, let us take an oath to rededicate to our motherland our services which will ensure a new direction for the rising sun.Let us consciously change ourselves to be able to choose to serve the nation’s interest, while keeping aside all other interest, sometimes, even compromising our own. Let us change ourselves for the greater good.

Sharing another scanned document of the first newsprint of the first dawn of independence when the citizens of India saw the morning in a new light of glory.

Feel free to share the photo with all your friends.

BTW did you read Pandit Jawaharlal Nehru’s memorable “Dawn of Independence” speech on the first independence day. http://www.business-fundas.com/2010/pandit-jawaharlal-nehrus-memorable-dawn-of-independence-speech/

Vande Mataram.

Editor – Business Fundas

The Economics of Olympic games

A comprehensive research conducted by Goldman Sachs titled “The Olympics and Economics 2012” precisely attempts to answer this question. The researchers analyzed the Olympic Games which were conducted in Beijing and Sydney, few years ago, and thus made a few projections for London 2012. What is of significant interest is that a lot of these projections are destined to come true and revitalize the economies, which are somewhat in a sombre mood in early 2012. Even the Prime Minister of United Kingdom, David Cameron, thinks that the Olympics will roll in 13 Billion pounds for the nation (even though that may help little to douse the fire burning within the economy).

The British economy really needs a boost, thanks to a protracted double-dip recession that has pushed down GDP for three quarters without even an inkling of a  break. The Olympic Games hosted in London 2012 (underway currently) have been projected to be extremely profitable for the “British Empire”,  and the revenues have been forecasted to exceed the operating cost of hosting the major event. Tickets sales are expected to generate over 500 million pounds or 785 million dollars and generate direct revenue for the management. This itself is a huge amount for a nation trapped in a continent facing rampant economic slowdown at large.In addition, a short-term financial boost in the third quarter of 1.2–1.6 percent of GDP at an annualized rate has been forecasted. This will also generate a lot of employment to a nation strapped with excess workable hands with very little to do. In addition, the tourism industry will get a healthy dosage of fuel to the slumbering embers, and this may just be sufficient to the industry slowly lumbering to a dormant stage.

With such a concern over economic health revision, a public-private partnership to ensure the success of such grand fiestas could be a shot for success. While such boost is sure to affect many sections of the society both directly and indirectly, the long term boon of employing workers for digging a trench and employing another set of workers to fill it up, are also evident in this case, though the analogy may be less fitting. Considering Ireland, which is in dire straits, will the benefits of the Olympic games overflow to Britain’s closest neighbor?

What is more important at this stage that will Brazil also benefit in the same big way, in 2016? With so much focus on her economy, will the benefits boost Brazil’s stake in the cake as an economic superpower? Only time can tell more how this story unfolds itself.

When unstoppable institutions collide with immovable bodies

Facebook, Google,  eBay and Amazon are just four of the technology mammoths who have been touted to be in a major lobbying group newly formed to protect the interests of the information technology industry, according to The Washington Post. This report has no doubt caught the fancy of many practitioners and academicians alike who watch the dynamics of the IT industry with a keen eye.

This newly formed band of super-heroes will be named as The Internet Association and plans to start operations from September. When it is launched completely, the full list of institutional heavyweights will be available for the general public, but as it stands already, The Internet Association contains some major movers and shakers in the technology industry.

While the idea is no doubt noble in spirit, what concerns me is the agenda which is not being spoken of, but is probably hidden at some level, behind the formation of such  “band of brothers”. While the group has been formed to fight regulations that impede the development of technological innovation, are we witnessing a convergence in an attempt to create and control monopolistic issues?

A monopoly can be coercive if the formation of the monopoly actively prohibits future competition and market improvement by using practices that is derived from its market or political influence. Although it is often debated whether market restrictions are in the best long-term interest of present and future consumers. While open innovation is always welcome to the “common man”, if the underlying agenda of such a group would be to protect the interests of multi-national giants to indulge in monopolistic practices “hand in hand”, this may very well be the death of the vision with which this group is being formed.

While we can debate on and on the agenda, the only tested truth source will be time. We will be eagerly waiting for the updates in this newly formed group of super-institutions on their agenda and course of action. Till then, ciao.

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This article is authored by Sayantan Ghosh. Sayantan is an alumni of Delhi School of Economics and is currently employed with a leading national bank in its policy making body. Sayantan loves to play table tennis and has a passion for photography.

How to Use Free Finance Calculators to Save Money

Free financial calculators are one of the best tools for managing personal finances and saving money. These calculators enable you to stay on the right track with your finances. All you have to do is enter the details of your financial position in the free financial calculator. It will provide you an output consisting useful information on how to use your money in the most appropriate manner. Continue reading “How to Use Free Finance Calculators to Save Money”

Types of Popular Internetworking Technologies

Internet technology comes in many forms, such as the connection and communication options. The use of the Internet requires a desktop computer, laptop computer, a web enabled device, or a smartphone or other wireless device. Today, it is almost a basic need for every individual to use internet technology, to perform his daily activities. In this article, we list some of the basic internet technologies which have grown popular in emerging economies.

DSL

One type of Internet connection that is common for many households is DSL. DSL is provided by your phone company and uses the existing phone line to your home. Speeds are offered at different prices to meet any type of need. A special modem is needed to connect your computer to the Internet. A wireless connection can be created in your home by adding a wireless router to the modem.

Cable

A second type of Internet connection for households in large cities is cable Broadband. This connection uses a cable connection to your home for the Internet. Cable connections are shared by other connected to the same cable line. This means that speeds will vary depending on the time of day. A special modem is also required to connect your computer to the Internet.

Satellite

A third type of connection for homes in rural areas is satellite. A dish needs to be installed on your roof to receive a signal for an Internet connection. The speed is similar to A DSL connection and will be the best option if no other connection options are available.

WiFi

This is a type of wireless connection that is available at many locations, such as restaurants. The use of a WiFi connection requires a laptop computer or web-enabled wireless device. WiFi is a free option for anyone to use to connect to the Internet. Users without an Internet connection at their home should find a local WiFi hotspot.

Dial-Up

Homes that only have a standard phone line may still use a dial-up connection. This connection needs a modem that is installed in a desktop or laptop computer. A dial-up connection uses the phone line and is the slowest type of Internet connection for a home. One downside is the inability to make a call when a connection is made to the Internet.

Communication Options

Many types of communications options are available for high speed Internet connections. The use of an Internet connection that is high-speed is required for most communication options. Communication can be done via voice and even video over the Internet. Some of the popular communication options are as follows:
VOIP

One communication option that is used on the Internet is VOIP. This is the Internet technology used by many companies offering phone service over the Internet. You can use VOIP at your home if there is a high-speed connection available. The use of VOIP allows you to cancel your land line service and only use Internet technology to make voice calls.

Skype

Skype is a computer application that uses the Internet to make calls. You can make a voice call or make call with video using a web camera. This software needs to be installed on your computer to make calls to other Skype users for free. Calls can also be made to land line numbers at a price that is peanuts when compared to ISD calling rates.

Author’s Bio:

Want to know more on the local internet providers? Go through more of Jason King’s articles which are rich in internet provider related information. He works for Internetbyzipcode.com.

Dealing with rejection and failure

When trying to accomplish any major goal in life, rejection and obstacles are inevitable steps that every professional has to encounter not once but multiple times in life. The key is to learn from your mistakes and persist through it until you succeed. However, this is easier said than done. The critical differentiators between success and failure is the ingredient of the person, who befalls the same. It is not aptitude that creates the difference but attitude, as has been recognized in numerous highly cited research works (Shao et al. 1988, Jennifer et al. 2006; etc).

I have personally encountered numerous professionals who are actually extremely competent but find it hard to deal with failure and perceived rejection from the social and professional network due to the same.  Counseling helps in more ways than is perceived in making or breaking these otherwise highly competent people.

Success of course is the ultimate souvenir and the only testament to your efforts. However, dealing with rejection is critical to avoid burn-out and maintain self poignant efficacy and confidence to go on. Coping strategies include using emotional or instrumental support; self-distraction; denial; religion; venting; substance use; self-blame; and behavioral disengagement.

Of these, using social support (for emotional, instrumental and terminal goals), denial, venting, behavioral disengagement, and self-blame coping had negative effects on individual satisfaction and ends up in boosting sub-lingual dissonance within the mind. As more and more professionals used these coping strategies in dealing with the day’s most bothersome failure, the less satisfied they felt at the end of the day and subsequently their performance felt the effect of a dissonant mind in the long run. This creates job churn or disengagement from organizational citizenship behavior or even group affiliation.

In contrast, positive reframing (i.e. trying to see things in a more positive light, looking for something constructive feedback from first hand experiences), factual acceptance and humor coping had positive effects on satisfaction. It has been observed that professionals using these coping strategies in dealing with failures, became more satisfied and less stressed they felt at the end of the day (Stoeber et al., 2006). The finding that positive reframing of relatively bitter experiences in the professional sphere was helpful for professionals having extremely high perfectionist goals and long term self-improvement commitment is particularly important. This establishes that even people high in perfectionistic concerns will have a tendency to be dissatisfied no matter what they achieve, are able to experience high levels of satisfaction if they use positive reframing while attempting to cope when dealing with perceived failures. The same also applies for all professionals even if they are somewhat in the “cross the fence” stage where they are yet to taste success majorly.

Do let us know, if this helps you in dealing with stress from fears of failure and rejection.

 

#follow #followback #teamfollowback #followme #ifollowback

Hi friends,

Been a long time since I posted in my blog. Due to some personal reasons, I am getting very little time to blog nowdays. Also, tweeting has almost stop. But would request you all to stay with us, so that after the next few days, you will again see more regular posts from me.

I cordially thank you for your immense support by following us, through thick and thin.

Till then,

Ciao..

Recruitment for Jobs through Social Media

Social Media has gained in popularity in leaps and bounds. Whats fascinating, that today beyond the social networking, professional networking is also increasing in popularity, which has led to the recruitment efforts of HRs through Social Media. In fact, there are openings for people who enjoy indulging in Social Media, like brand managers, community managers, social media strategists, content creators.In fact, due to the importance of Social Media, there have been conferences (e.g. Social Media in Recruitment) which explores the various dimension of this emergent phenomenon.

While the importance of Linked In has been recognized for a long time for recruitment of new talent in the mid-senior levels, very few recruiters would like to admit that they check the Facebook profiles of the potential candidates. A person’s social interaction not only is an indication of his emotional quotient and with whom he can connect through his social networks, it eventually links up to his professional quotient. Business Schools like Harvard, Yale or other premium schools have networks which can help to identify a member uniquely from these institutions. Thus the potential for actually evaluating the claims of candidature and their association with with niche institutions increases manifold, and hence correctness of professional membership is stamped in the social profile.

Not only for checking a candidates professional aptitude, but also to evaluate a candidature’s fit for a particular profile, a professional Social Media profile is of paramount importance. Its often that recruiters check Linked In for suitable candidates for niche roles. Hence a profile with details which can provide greater insight to the recruiters, can actually create a one-off linkage for the perfect skill specific job with a right candidate.

So why is social media increasing in importance in the recruitment scenario? Actually it has to be recognized that the job portals offer paid services to the recruiters while the social media is free for the basic users. Also the job portals are region specific, social media is more global by its very definition. Job portals target only the active job seekers whereas social media potentially has access to both active and passive job seekers. Hence one may just become inquisitive on seeing an advertisement of an opening which may have a high fit with the candidate, although the latter might not be actively searching for openings at the time.Thus the potential reach to the perfect candidates increases manifold, even if the latter are not actively searching for opportunities.

Also, one can observe social interactions of a potential candidate on social media unlike in job portals. However, social media is difficult to use for the recruitment purpose while job portals are highly user friendly and easy to use, being more targeted for the purpose.  But if offers one benefit that cannot be obtained from job portals. The candidates cannot re-organize their profile for a particular opening, since most have a time stamp, which offers ingenuity to profiles with a truthful mapping of candidature with the openings, although the potential information for evaluation may be low.

So what do you think about the importance of social media and professional recruitment? Do let us know your thoughts on this topic.