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<title>Supplier Relationship Management Softwares</title>
<link>https://tnatams.info/supplier-relationship-management-softwares,html</link>
<comments>https://tnatams.info/supplier-relationship-management-softwares,html#comments</comments>
<pubDate>Tue, 04 Apr 2023 13:25:31 +0000</pubDate>
<dc:creator>admin</dc:creator>
<category><![CDATA[Uncategorized]]></category>
<category><![CDATA[supplier relationship management]]></category>
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<description><![CDATA[Companies who employ the services of vendors specialized in providing a specific product or service must adequately track these transactions, and this task can become quite complex. Some companies even have multiple vendors they rely on for the smooth operation of their business, making management even more difficult. The acquisition of a supplier relationship management [...]]]></description>
<content:encoded><![CDATA[<p> Companies who employ the services of vendors specialized in providing a specific product or service must adequately track these transactions, and this task can become quite complex. Some companies even have multiple vendors they rely on for the smooth operation of their business, making management even more difficult. The acquisition of a supplier relationship management software program can both save the company valuable time and also ensure tracking is up to date and accurate.Companies choosing not to use such a software program instead track their vendors on spreadsheets, and this information can be transferred to a separate computer file for backup. The problem is, however, that nobody is perfect, and errors are inevitable by employing this type of process. Business owners have a valuable tool in software programs that allows them to quickly access specific data or information on demand. Management software programs provide a unique, centralized location where every vendor used by the company is individually tracked using technology that reduces the error that other methods are prone to.Quality control has never been easier since supplier relationship management software has become available. Information obtained from supplier quality ratings such as audits and supplier deviations are automatically assembled and analyzed to give the business owner a better idea of the level of service any individual supplier is providing.These innovative management software systems are adaptable. With a couple of simple clicks, the business owner can quickly link approved goods or services to specific suppliers, and new suppliers can be added to the system just as quickly and easily.Companies with multiple locations can take advantage of web enabled software programs. This type of software allows the user to access information at any time anywhere in the world. Businesses can quickly communicate supplier updates and information to every branch location simultaneously via the Internet. This method can also save hours in efforts made to duplicate and send the information manually.Software programs designed to manage supplier relationships have innovated the way businesses run. By providing a centralized location for all information to be stored and shared, pertinent details can be quickly and easily communicated, even at the furthest distances, providing a broad overview of all suppliers being utilized by a company. It is well worth the initial investment necessary to procure this technology as the lifetime of benefits it provides will, in the long run, save thousands in the time and resources required to manage supplier relationships manually. </p>
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<title>Solutions For Effective Supplier Relationship Management</title>
<link>https://tnatams.info/solutions-for-effective-supplier-relationship-management,html</link>
<comments>https://tnatams.info/solutions-for-effective-supplier-relationship-management,html#comments</comments>
<pubDate>Tue, 04 Apr 2023 09:33:29 +0000</pubDate>
<dc:creator>admin</dc:creator>
<category><![CDATA[Uncategorized]]></category>
<category><![CDATA[supplier relationship management]]></category>
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<description><![CDATA[Extracting value through capable management of an enterprise’s relationships with its vendors and suppliers of raw materials, goods, and services is the objective of supplier relationship management (SRM). The discipline of streamlining and making more effective the processes that stand between an organization and its suppliers is a further goal of it, and as in [...]]]></description>
<content:encoded><![CDATA[<p> Extracting value through capable management of an enterprise’s relationships with its vendors and suppliers of raw materials, goods, and services is the objective of supplier relationship management (SRM). The discipline of streamlining and making more effective the processes that stand between an organization and its suppliers is a further goal of it, and as in customer relationship management (CRM), it involves the use of specific technologies to organize, and make more efficient the business processes that achieve these desired results.Effective SRM solutions necessitate the creation of closer and more collaborative relationships with the organizations suppliers as a means to isolate and capitalize on otherwise hidden opportunities to control risk and squeeze new value out of existing processes. Sometimes this involves asking a supplier to install software within the confines of its walls to serve as a window into which the client can see some how the supplier runs some parts of its enterprise. With this kind of technology, the organization can rank and rate suppliers against other competing suppliers and gain valuable data and insights into performance differences between them so it can be analyzed. At this point Supplier Relationship Management begins to overlap with Supply Chain Management (SCM).Globalization of trade is a leading driver of resource management strategies resulting in an increase in demand for compliance and relationship management tools that can help a company squeeze the inefficiencies out of the supply chain. At the heart of it, is movement toward economic Darwinism where companies enthusiastically agree to do things that were previously unthinkable.One example of this is a large retail chain, which carries two different brands of soda supplied by two competing soda companies. With supply chain studies, our large multi-outlet retailer has discovered that both of these soda companies where arriving weekly with half empty delivery trucks. By convincing these two soda suppliers to agree to consolidate their loads onto just one truck, the retailer saves both of them save money on fuel and driver salaries. The money saved from this process would then be available to go toward price concessions that benefit the organization, which organized and managed this project from the beginning.Having an efficient and transparent supply network can make the difference between success and failure in business. The enabling of collaboration between customers, suppliers, and even competitors permits the development and implementation of joint activities, and it is through the management and analysis of these activities that we reap the benefits of a more efficient supply chain. </p>
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<title>Strategic Supplier Relationship Management Process and Beyond</title>
<link>https://tnatams.info/strategic-supplier-relationship-management-process-and-beyond,html</link>
<comments>https://tnatams.info/strategic-supplier-relationship-management-process-and-beyond,html#comments</comments>
<pubDate>Tue, 04 Apr 2023 07:14:54 +0000</pubDate>
<dc:creator>admin</dc:creator>
<category><![CDATA[Uncategorized]]></category>
<category><![CDATA[supplier relationship management]]></category>
<guid isPermaLink="false">http://tnatams.info/?p=59</guid>
<description><![CDATA[There are well published examples on using Supplier Relationship Management (SRM), or Supplier Performance Management (SPM), process to enhance the strategic relationship between the buyers and suppliers. Specifically, SRM refers to the following rules of engagement: Define goals and performance targets for the supplier, and track them: borrowing from the common performance measurement index for [...]]]></description>
<content:encoded><![CDATA[<p> There are well published examples on using Supplier Relationship Management (SRM), or Supplier Performance Management (SPM), process to enhance the strategic relationship between the buyers and suppliers. Specifically, SRM refers to the following rules of engagement:<br />
Define goals and performance targets for the supplier, and track them: borrowing from the common performance measurement index for employee, the targets must be S.M.A.R.T., namely: Specific, Measurable, Attainable, Realistic, and Timely. Some of the common measurement techniques for supplier performance are: MOQ, lead time, on time delivery percentage, cost reduction, quality / defect percentage…etc. Some of the lesser used techniques are: environmental improvement, production capacity enhancement, technical capability, reaction time for problem resolution…etc. Though the measurement may be different and must be industry specific, the goal is to provide a good basis to measure supplier against its peers.<br />
Recognize top performers and top offenders: the best and the worst suppliers could be selected based on the performance targets that were set. Company could enhance the business relationship with the top performers with higher business volume, thus achieving a mutual gain situation. On another hand, immediate improvement action plan can be put in place for top offenders to minimize the impact to the company’s supply chain. Further actions can be taken to eliminate the repeated offenders.<br />
Integrate the supply chain for more efficient transaction: SRM integrates the supplier into the company supply chain. The supplier will gain insights to forecast, sales projection, inventory level…etc. This allows the supplier to prepare and stock material ahead of time, instead of waiting for the purchase orders from the customer. This not only shorten the lead time to gain an edge in the ever-more competitive business landscape, but also streamline the overall inventory level, thus reduce cost.<br />
All points above are well developed and documented for a successful supplier relationship. However, SRM doesn’t just stop there. Here are a couple lesser used concepts to reap further benefits from a well managed supplier relationship:<br />
Train the customer: supplier relationship is not a one way street. Instead, the time a company spent on supplier development is as essential as the time the supplier spent on “customer development.” For example, an electronic gadget design company could invite its preferred printed circuit board manufacturer to conduct training courses on PCB design. The customer may be best in designing electronic gadget; however, the engineers can always benefit from someone dealing with PCB on a daily basis. The suppliers also treasure these training opportunities since they are given the chance to present in front of a focus group of design engineers, who are now more inclined to design according to the supplier’s specification. These are great business development opportunities that no suppliers will turn down.<br />
Involve supplier in the early stage of product development: one of the many struggles for procurement professionals is company in general does not involve procurement in the early stage of product development. Instead, procurement function is deemed as an overhead process similar to accounting and finance. When the product is finally launched, the procurement department is suddenly held responsible to wring out every penny possible of the design. Instead of using higher impact cost reduction concepts such as DFA, DFM, material selection…etc, procurement officers are only left to conduct hard negotiation sessions, which is never a pleasant experience for suppliers. By involving the preferred suppliers during the product development stage, the company can ensure the best design is already a shoe-in feature, and manufacturing transition could become irrelevant, since the suppliers are already familiar with the design.<br />
A well managed supplier relationship is essential to remain competitive in the current business landscape. It also allows the company to improve its bottom line, and direct its capital to more productive means. </p>
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<title>SEO (Search Engine Optimisation)</title>
<link>https://tnatams.info/seo-search-engine-optimisation,html</link>
<comments>https://tnatams.info/seo-search-engine-optimisation,html#comments</comments>
<pubDate>Thu, 30 Mar 2023 12:31:20 +0000</pubDate>
<dc:creator>admin</dc:creator>
<category><![CDATA[Uncategorized]]></category>
<guid isPermaLink="false">http://tnatams.info/?p=57</guid>
<description><![CDATA[Search Engine Optimisation (SEO) is a subset of Internet Marketing and is one of the most cost effective means of driving targeted traffic to a website. The SEO practitioner will usually work with a business to develop an ongoing strategy to rank alongside and above competitor’s in the major search engines for profitable search terms. [...]]]></description>
<content:encoded><![CDATA[<p> Search Engine Optimisation (SEO) is a subset of Internet Marketing and is one of the most cost effective means of driving targeted traffic to a website. The SEO practitioner will usually work with a business to develop an ongoing strategy to rank alongside and above competitor’s in the major search engines for profitable search terms. These search terms are usually referred to as Keywords and if there are multiple Keywords in a phrase then the term keyphrase is generally used.It is worth noting that, as with most types of industry, SEO practitioners can be of varying levels of skills and experience. There is no particular level of attainment or degree of qualification that a SEO can achieve. This can make it difficult to choose a suitable individual or company to help improve a website’s search engine rankings. Many companies choose to take a taster from a SEO company before they employ them to tackle a complete project. For example, if the website requires fifteen or so keyphrases.So what sets one particular SEO company apart from another? Well, many would argue that most, if not all, SEO practitioners are capable of delivering some kind of base Search Marketing product. Whether this is 50 backlinks per month or even if this is something that is more bespoke, this appears to be the norm for most SEO projects. But do these deliverables merely fit the client’s perception of what a SEO project should entail and, most importantly, do these ventures actually deliver adequate results. When I say adequate I mean dramatically improved search engine results pertaining to worthwhile and profitable search terms as opposed to token number one positions for key phrases that no-one actually searches for!So how does SEO work? Well, the best SEO companies are skilled and experienced at finding niche and untapped areas that no-one has found and “milked” yet. If no niche areas exist then the best keyphrases that are available are focused upon using both a set methodology and a creative edge. For example, if your business provides accountancy services which focuses upon a friendly, local service then your website must focus upon search phrases that relate to keyphrases such as “accountants in Barnsley”. I am by no means suggesting that all websites should focus upon geographical based search phrases because many company’s target markets are, in fact, national or even international. So the context within which a particular website can be classified under certainly does determine the order that the keyword research is performed using.Context is a huge concern in SEO. The next part of the article attempts to determine the order in which a typical SEO practitioner might formulate a SEO strategy. A SEO strategy is a plan that a company, practitioner or SEO company must follow to achieve a perceived result. A SEO strategy is an initial phase of and forms the basis of a SEO plan which becomes part of a company’s overall marketing plan. Remember the common business cliche, if you fail to plan then you plan to fail. A SEO plan usually consists of a schedule of work that is based upon a prescribed amount of keyword research, competition research and SEO experience and expert guidance. Past trends can help the SEO practitioner to speculate upon a likely outcome but future web page positions in the popular search engines cannot always be accurately predicted based of the variables that are involved. These variables are often known as ranking factors.During the planning stages of a SEO strategy for small to medium enterprises (SMEs) it must be recognised that larger organisations may have teams of internet marketers who are working on promoting the website nine while five, Monday to Friday. How can smaller companies compete with larger companies? This is an age old problem. The larger organisations have huge marketing budgets and can test different ideas whereas smaller companies must be more frugal with their spending. This is why small internet marketing companies who specialise in search engine optimisation and pay per click advertising are being called upon more and more frequently by smaller businesses.Generally speaking the most successful SEO companies are those who follow a reusable and scalable process model but also go above and beyond the competition in terms of creativity. We should learn something from the big advertising agencies who spend days and even weeks conjuring up fantastic, enticing and engaging ideas to promote their client’s products.We know that Search Engine Optimisation is a subset of Internet Marketing just as banner advertising is a part of Traditional Marketing. So what makes these two areas significantly different? Well, whereas Traditional Marketing is a form of push marketing, Internet Marketing is a type of pull marketing.Push MarketingThis is any type of marketing which is placed is front of people. The degree of targeting can vary widely. For example, advertisements for up and coming live music in pubs is fairly targeted whereas general banner advertisements in town centres would be rated low in terms of targeting. The main disadvantages of Push Marketing are that people see so many banner advertisements, posters, etc each and every day that their brains switch off to them and don’t register them after a while.Pull MarketingSEO is a form of Pull Marketing which is much more targeted because searchers (the terms “searchers” refers to internet users who are performing keyword or keyphrases searches in search engines) are actually looking for and are, therefore, already interested in what you are selling. The downside to search engine optimisation is that it is becoming increasingly more difficult, time consuming and costly to become ranked for popular and profitable search phrases. We as Internet Marketers tackle this issue by looking for increasingly more creative avenues to go down. For example, Social Media Marketing is now a very popular choice for Internet Marketers to aid their SEO efforts. The very best SEO practitioners are capable of successfully integrating SEO strategies into the wider marketing plan. This helps to ensure that no stone is left unturned and that the bigger picture can always be seen whilst a SEO campaign progresses.This type of holistic approach to SEO the key to a successful SEO campaign for a great number of satisfied clients. </p>
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<title>There is an excessive amount of traffic coming from your Region.</title>
<link>https://tnatams.info/there-is-an-excessive-amount-of-traffic-coming-from-your-region,html</link>
<comments>https://tnatams.info/there-is-an-excessive-amount-of-traffic-coming-from-your-region,html#comments</comments>
<pubDate>Wed, 29 Mar 2023 18:07:35 +0000</pubDate>
<dc:creator>admin</dc:creator>
<category><![CDATA[Uncategorized]]></category>
<category><![CDATA[Internet Marketing]]></category>
<guid isPermaLink="false">http://tnatams.info/?p=55</guid>
<description><![CDATA[#EANF#]]></description>
<content:encoded><![CDATA[<p>#EANF#</p>
]]></content:encoded>
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<title>Job Roles Defined: Tasks That a Software Development Company Generally Carries Out</title>
<link>https://tnatams.info/job-roles-defined-tasks-that-a-software-development-company-generally-carries-out,html</link>
<comments>https://tnatams.info/job-roles-defined-tasks-that-a-software-development-company-generally-carries-out,html#comments</comments>
<pubDate>Wed, 29 Mar 2023 17:52:40 +0000</pubDate>
<dc:creator>admin</dc:creator>
<category><![CDATA[Uncategorized]]></category>
<guid isPermaLink="false">http://tnatams.info/?p=53</guid>
<description><![CDATA[IntroductionCompanies who handle the task of manufacturing the software service follow a process consisting of certain strategies step by step in order to deliver optimized software on the basis of the client’s requirements.But prior to that, comes the procedure of developing software. Tailoring a software from the scratch or modifying existing software for the further [...]]]></description>
<content:encoded><![CDATA[<p> IntroductionCompanies who handle the task of manufacturing the software service follow a process consisting of certain strategies step by step in order to deliver optimized software on the basis of the client’s requirements.But prior to that, comes the procedure of developing software. Tailoring a software from the scratch or modifying existing software for the further modification compels the developers to go through a monotonous, painful and frustrating method. But most of them don’t know that there are thousands of ways through which the software development process can be facilitated.SDLC or Systems Development Life CycleA software is always created for future use. Most of the organizations produce it for their own usage and some of them are produced for the clients. Sometimes, the organizations make the software from scratch and sometimes, they modify the existing software. Due to this reason, most of the big software development companies adopt SDLC or Systems Development Life Cycle method also known as the Software Development Life Cycle that actually splits the entire process into separate phases that includes computer programming, planning, developing, documenting, testing, bug fixing and finally deploying & maintaining frameworks and applications that consequence in a software production.DrawbacksSplitting of this entire process may facilitate the procedure, but it also produces certain risks that may come up at the time of estimation, scheduling, and testing. To avoid this thing, most of the organizations maintain a set of rules or proven guidelines for a successful project handling as per the customer requirements.What strategies do the organizations use nowadays?The SDLC models that the big organizations or MNCs follow can be of various types. Nowadays, the Agile software development methodology is in use the most because of its easy-to-use technologies and cooperative strategies.The entire process can be divided into two portions. First is the Software Creation and second is the Software Project Management. A proper project delivery depends on the proper execution of the multiple operations to accomplish the targeted result within the deadline. But creating the software is not enough. Testing and maintaining of the software for the lifetime takes a lot of efforts of the developers.Purpose of software creation service maintenanceThere is a vast difference between creating website or application and producing software. To be very frank, developing software itself is an entire process and most of its parts are elusive. This is because the technologies are highly volatile and are constantly changing. That is why most of the software are custom made and are made on the basis of the requirements. The frequently changing nature and the advancement of the technologies are quite vulnerable to the business & environmental challenges that produce risks for which it is important to maintain the software production service.The necessity of a software project managerFor the proper maintenance, most software development companies deploy software project manager. The challenges that the software project manager generally handles are as below-Maintaining the quality of the software.<br />
Delivering the quality software within the deadline.<br />
Following the process and SDLC methodologies while developing the software.<br />
Keeping the cost within the client’s estimated budget.<br />
The software service is a vast subject that can’t be covered within one article. Please do follow us for more upcoming articles. </p>
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<title>How Much Money Is Required to Start Day Trading?</title>
<link>https://tnatams.info/how-much-money-is-required-to-start-day-trading,html</link>
<comments>https://tnatams.info/how-much-money-is-required-to-start-day-trading,html#comments</comments>
<pubDate>Wed, 29 Mar 2023 16:14:45 +0000</pubDate>
<dc:creator>admin</dc:creator>
<category><![CDATA[Uncategorized]]></category>
<guid isPermaLink="false">http://tnatams.info/?p=51</guid>
<description><![CDATA[Day trading today is so different then what it was back when I first started trading in 1989. In those days, most trading was done in what is called a Trading Pit, where securities and commodities were bought and sold via “open outcry”.Like in the movie “Trading Places” with Eddie Murphy and Dan Aykroyd, where [...]]]></description>
<content:encoded><![CDATA[<p> Day trading today is so different then what it was back when I first started trading in 1989. In those days, most trading was done in what is called a Trading Pit, where securities and commodities were bought and sold via “open outcry”.Like in the movie “Trading Places” with Eddie Murphy and Dan Aykroyd, where you see all these people in different colored jackets shouting and waving their hands (called Floor Traders), surrounded by electronic price displays and news monitors.When you wanted to make a trade, whether it be for a day trade or longer, you would pick up your telephone and call your broker, who would take your order over the phone and then, after confirming the order back to you, would relay it to someone else and eventually end up in the hands of one of these Floor Traders. The Floor Trader would then attempt to fill your order in the Trading Pit, and if filled, relay that information back to your Broker who would then call you back with your fill.When it comes to Day Trading, where you need to get in and out of your trades quickly, the old way was not very efficient and at times frustrating and costly. A lot can happen in the time it takes for orders to arrive at the Pit and come back to you as a fill.With the improvement in communication technology as the 20th Century was coming to a close, Electronic Trading (aka eTrading) became more prevalent and accessible to the every day trader. With just a click of your computer mouse, buy and sell orders could be placed instantaneously. If your price is met, you could be filled before your hand even moved away from your mouse.Electronic Trading is arguably responsible for the major reduction in trading costs (commissions) seen over the years, as well as the increase in Day Trading activity. Not only can Day Traders make quick trades, but their cost per trade is also much lower than years before. Today, anyone with a small amount of disposable funds (never use money you need to live on) can get setup and start Day Trading.So how much money is required to get started in Day Trading?This is one of the most asked question by individuals looking to get into trading. It is also one of the most difficult questions to provide a black and white answer to.The amount of money needed to start Day Trading really depends on several variables. What are you interested in trading? The (discount) Broker you decide to open an account with. The style of trading you wish to do.Day Trading in the Stock Market is not really suited for beginners. Recent regulations require that you deposit at least $25,000 in cash or securities with your brokerage before you can day trade securities.The Futures and Commodity markets offer Day Traders better access to day trade for a much smaller deposit. Depending on the brokerage, you can open a futures account for as little as $2,500, although many require at least $5,000 to $10,000. This is not the same as “margin”, which is the minimum amount of capital you must have in your account in order to trade a particular a futures contract. The margin required depends on the market being traded and the current level of volatility. For example, to trade a single Live Cattle futures contract may require that you have an “Initial Margin” of $1,650 in order to initiate the trade, and it must not drop below $1,200 which would be your “Maintenance Margin”.In recent years, the FOREX (Foreign Exchange) currency trading has taken the trading world by storm. With access to free price data and trading platforms, lower minimum account balance requirements, no commissions (brokerages make their money via the ask/bid spread), and flexible trading unit sizes, it has proven to be one of the best options for anyone looking to get into Day Trading with less capital requirement.With futures trading, just a few ticks can mean several hundred dollars (profit or loss) for most contracts traded. If you are just starting out and your account balance is only $3,000 to $5,000 (or even $10,000, which is not that much in futures), you could be seeing moves of 10% of your account within minutes! It is great when your timing is right and the market is moving in your favor. It is not so great when your timing is off by just a little and it is moving against you. For a Day Trader just starting out, it can be very difficult to succeed with this kind of leverage in futures with a small account.In the FOREX markets, however, you only need to find a FOREX brokerage that gives you the flexibility of decreasing your unit size. While new regulations has tightened up the leverage available to traders (i.e. 250:1, 100:1), being able to adjust your unit size makes it possible for traders to trade pip sizes (think ‘ticks’) that are even less than $1 each. Some brokerages have “no minimum deposit” requirement to open an account. Your only restriction for trading a currency pair is the amount you have on deposit in relation to the unit size you have chosen to trade, due to margin requirements. So if you have a small amount in your account (say just $200), simply adjust your unit trading size down so that you meet the margin requirement. While a small pip size won’t make you large profits during a single trading day, it also means you can avoid large losses as well. And if your day trading experience grows to where you are making consistent profits, those small gains can add up to increase your account size. With your account size increased, you can adjust your unit size up accordingly.So if you are interested in getting started in day trading, if you choose to trade in the FOREX markets, you can do so for very little money. </p>
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<title>Business Ethics – Why Are They Important in Small Business?</title>
<link>https://tnatams.info/business-ethics-why-are-they-important-in-small-business,html</link>
<comments>https://tnatams.info/business-ethics-why-are-they-important-in-small-business,html#comments</comments>
<pubDate>Wed, 29 Mar 2023 12:35:20 +0000</pubDate>
<dc:creator>admin</dc:creator>
<category><![CDATA[Uncategorized]]></category>
<category><![CDATA[Small Business]]></category>
<guid isPermaLink="false">http://tnatams.info/?p=48</guid>
<description><![CDATA[Rarely is there the individual who does not encounter an ethical or moral dilemma at some point in his or her business life. Whether that individual is the owner of a multinational corporation, a small business entrepreneur, or a new or established employee, everyone is likely to have to face such an instance eventually. Much [...]]]></description>
<content:encoded><![CDATA[<p> Rarely is there the individual who does not encounter an ethical or moral dilemma at some point in his or her business life. Whether that individual is the owner of a multinational corporation, a small business entrepreneur, or a new or established employee, everyone is likely to have to face such an instance eventually. Much like a personal ethical dilemma, an individual is faced with making a decision based on how it will affect not only himself, but on how it will effect the organization as a whole. One of the major problems when dealing with an ethical dilemma in business is that individuals are often swayed by business profits and the legality of a decision.The Institute of Business Ethics, whose slogan is “doing business ethically makes for better business”, describes the term business ethics as such.Business ethics is the application of ethical values to business behaviour. It applies to any and all aspects of business conduct, from boardroom strategies and how companies treat their suppliers to sales techniques and accounting practices. Ethics goes beyond the legal requirements for a company and is, therefore, discretionary. Business ethics applies to the conduct of individuals and to the conduct of the organisation as a whole. It is about how a company does its business, how it behaves intrinsically.As clear as this definition is, it is certainly open to interpretation. Therefore it must be understood that the application of business ethics to any situation is entirely subjective.One can also understand business ethics, and ethics of any kind, as applying a sense of fairness to a situation. Even with a sense of clarity applied to the use of business ethics, reaching a just and moral decision can be a complex process for most individuals. The subject of business ethics has been a source of great debate in recent years as the heads of major (and minor) corporations are revealed as less than ethical characters both in the way they do business and in their personal conduct. However, it may be said that any individual who does not practice business ethics cannot be personally ethical even though the reverse may not also be true. Ethics in generally has a long history of applications. Centuries ago a man’s ethical practices defined who he was as an individual. However, as populations grew, the necessity for incorporating the best business practices into a company became somehow less important because there was always another customer around the corner and the owner of a business was rarely the focus of attention in a community the way he or she may have been in the past. A company’s administration took a seat in the background and hired representatives to deal with any fallout. Ethics rely on several factors, one of the most important of which is culture. Again, like the business person of the past, a culture’s ethics practices will largely depend upon the value that is placed on them. Business ethics have the unappealing conflict of often being contrary to what is legal. Often what is “right” is not necessarily what is legal, and a business must consider this conflict when making ethical judgments. Although there are many in the business world who believe that a business has no room for ethics if it is to function competitively, the numbers of corporate whistleblowers indicate that there is still room for ethics in business.Western societies place a great deal of emphasis on success. However, in business, there are often conflicts between ethical behavior and business success. This disparity is often multiplied for the small business owner. To compete with larger businesses, it may be tempting to abandon ethics just to make an adequate profit. Additionally, the small business person is relatively autonomous in his or her decision making; he or she does not have to answer to a large employee base or a corporate governing board. It is also interesting to note that the small business leader often has his or her decisions impact a greater number of individuals than does the employee of the small business. For instance, a small business owner may have his or her decision affect his or her customer base as well as his or her employee base. The employee will likely find that his or her decision will only directly impact his or her immediate circle of coworkers. However, the pressure to succeed is both an internal and an external pressure and often leads individuals to make ethical decisions that are based more on those pressures than their own moral judgment. As consumers grow wary of those that they do business with, one must understand that there is just cause for such wariness. The cynical American consumer has learned, often the hard way, that there is little room in business for ethics. In a society where the customer used to be king, the consumer has more often than not experienced several distasteful experiences with business both large and small.Some experts argue that any focus on profitability is bound to test the limits of ethical practices. They assert that to assume that the primary function of a business is to serve its client base in an ethical manner is idealistic and that the nature of a free economy dictates that ethics must take a back seat to increasing profits. Although it is rarely the conscious intent of a business to harm the public interest, reality dictates that the businesses ability to increase profits will determine its success. Publicly owned companies experience extra pressure in this arena. It is difficult to draw investors to a company based on its ethics. Investors are looking for a return on their investment and ethical performance does not equal dollars. There are economists that assert that, in any competitive economy, ethics are impossible to uphold; that a company can legitimately bypass ethics with the excuse that unethical practices are the only way to make a profit.Unlike the larger corporations, the small business leader is in a unique position to shape the ethical practices of his or her business. Small businesses have a smaller employee base to police when applying ethical policies than do larger businesses. It is important to understand that, similar to the ethical dilemmas of the large corporations, although an individual surely knows the difference between the correct ethical decision and the wrong road, the choice to throw ethics to the wind is often made because the unethical choice is more profitable. This may, however, happen much less often in smaller organizations because the individual or individuals who are harmed by the unethical decision and someone is always harmed, is more visible to the small business. Major corporations and their decision making machines are often far removed from the individuals that their immoral and/or unethical decisions effect. This may make the wrong decision much easier to make.The unique position that the small business owner is in regarding the formation of an ethics policy yields a great responsibility. A proactive business leader formulates a statement of organizational values that employees of the company are expected to embrace – at least while performing duties in the service of the company. An organizational ethics policy is an announcement to the employees, the customer base and the community as a whole that the business is prepared to conduct itself and its practices on an ethical level. Such statements invite the respect of all parties involved in doing business with such an entity. However, it is imperative that the small business owner not make the same mistake that larger organizations often do; the ethical policies that a business develops must not be in conflict with the organizational goals. It is unethical in itself to develop an ethical policy that an employee cannot possibly follow and maintain his or her employment. When faced with the decision between an ethical decision and his or her job, an employee will almost always choose the job.Therefore the policy must be in reasonable alignment with the organizational goals of the business. It is equally important, and maybe more so, that the small business leader lead by example. Employees, especially in a smaller organization, are less likely to conduct themselves ethically if they receive implicit permission not to. The end result of such a practice is that the small business owner can be assured that he or she is conducting business in a manner that encourages the trust of his or her customers as well as his or her employees. And since consumers have become very wary of doing business with an entity they feel they cannot trust, the small business can enjoy the profits of a loyal customer base. The small business owner has an advantage over the larger corporations in that it can elicit the trust of the consumer by applying ethical business practices that give the customer the feel of an equal business relationship rather than one where the consumer buys based on need alone. There are many that believe that such practices are capable of drawing business away from the large corporate entities and back into a customer-focused business format. </p>
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<title>Brand Conscious</title>
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<pubDate>Thu, 02 Feb 2023 09:21:03 +0000</pubDate>
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<description><![CDATA[The ultimate recognition when Bill Dedman said -Brand names are well known to business school professors, but only one professor is a brand name herself. Call her Professor Oprah. There can be no greater appreciation when one’s own name becomes a brand in itself and it is accepted globally. Even our fictitious “Gabbar Singh” is [...]]]></description>
<content:encoded><![CDATA[<p> The ultimate recognition when Bill Dedman said -Brand names are well known to business school professors, but only one professor is a brand name herself. Call her Professor Oprah. There can be no greater appreciation when one’s own name becomes a brand in itself and it is accepted globally. Even our fictitious “Gabbar Singh” is a brand representing a certain quality of person, albeit stereotypical.Some brands come out to be very powerful as Sara Blakely puts it, It’s the power of the brand. We’ve never formally advertised. I don’t know if you are familiar with this snippet, Half a circle, full a circle, half a circle A. Half a circle, full a circle, right angle A. We, as kids in the late 60s used this as a brainteaser to confuse our friends, the answer to which was. This is the power of the brand when it becomes a part of everyday life.Look at the truth behind the following:<br />
*How many of us use the term “photocopy”? We mostly use “Xerox”.<br />
*Do we say “search the Net”? No. we say “Google it”.<br />
*Seldom do we say “petroleum jelly”. We always say “Vaseline” which is a trademark of Unilever.<br />
*”Walkman” is a Sony brand. The generic name is “Personal stereo”.<br />
*We say “Ziploc” and not “Zipper storage bag”.There are numerous such examples, many of which would surprise you such as, Aspirin (acetylsalicylic acid), Bikini (two-piece swimwear), Cellophane (transparent regenerated cellulose sheets), Dry ice (solid form of carbon dioxide), Escalator (moving staircase), Kerosene (combustible hydrocarbon liquid) and Thermos (vacuum flask).What is a brand? As defined in BusinessDictionary.com Unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Over time, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer’s mind. Thus brands help harried consumers in crowded and complex marketplace, by standing for certain benefits and value. Legal name for a brand is trademark and, when it identifies or represents a firm, it is called a brand name.In other words, a brand goes beyond a mere name or a logo or icon. It is a promise to your customers of a certain kind of product or service. A brand combines several elements which include logo, words, type font, design, colors, personality, price, service, etc. You should also look at the attributes of your product/service and incorporate them into your brand. When you think of SONY you immediately get the picture of top quality consumer electronics and BENZ reminds you of best in class German engineering in automobiles.*Your brand is your public identity, what you’re trusted for. And for your brand to endure, it has to be tested, redefined, managed, and expanded as markets evolve. Brands either learn or disappear. Lisa GanskyWhy do you need a brand? Every company needs a brand including startups. With the short attention span of customers in today’s environment, standard advertisements do not register. When you watch TV how many commercials do you view or remember? Maybe, only the radically unconventional ones or those related to well known brands and there too you may not remember the actual advertisement.What goes into the making of a brand? The creation of a brand is a complex and time consuming but extremely crucial activity. Here, let me show you some of the elements and their impact:<br />
*Name: This is not just a word or a set of words. “Apple” or “Idea” is not just a word; they provide a feeling, a promise. In the case of Apple the promise is of quality and exclusivity. In the case of Idea it is technology reaching out to the common masses.<br />
*Logo: This is the visual representation that identifies the brand. The LIC logo of a pair of hands holding a lamp symbolizes to secure/protect the light of life.<br />
*Signature phrase: A very important component for any brand. We all know “The Taste of India” is associated with AMUL (Gujarat Co-operative Milk Marketing Federation Ltd).<br />
*Graphics: The graphical design (shape, color, font, etc.) of the entire brand including the logo. Air India has mascot in the “Maharaja” as well as a logo.The Centaur that has now been replaced by a red colored flying swan with the “Konark Chakra” in orange, placed inside it. The design and color combination on each aircraft also contribute to the brand.<br />
*Shapes: The distinctive radiator grill of the Rolls Royce automobile is never changed across its numerous models.<br />
*Sounds: Tunes and musical notes add to the experience. The chimes of Microsoft Windows, Mozart’s 25th Symphony used for Titan watches.There are other elements such as scent and taste that can also go into making of your brand. Companies have even used the services of linguists to help create their brands.”People need patience. It takes time to build a brand.” Carmen BusquetsAchieving a level where your brand becomes a part of daily jargon can take years and may or may not signify something good for you. For some of these brands the owner companies have completely dominated the market and they continue to reap the benefits. For most, however, the owner company has faded into oblivion while the brand lives on. </p>
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<pubDate>Wed, 25 Jan 2023 21:08:08 +0000</pubDate>
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