Monthly Archives: August 2010

A Closer Look Into The Balanced Scorecard Concept

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It is quite important for organizations to turn their strategic goals and objectives into reality. And over the years, they have devised many different ways on how they can get the organization closer to its goal. We have seen organizations succeed and fail at reaching their objectives and perhaps, many have us have this bigger question: what makes an organization succeed in its efforts? What are the indicators of a successful organization? Business experts refer to the answer as a balanced scorecard. And more than just being a descriptive term for success, this word is a tool used in strategic performance management. And in time, it has evolved into a formula or framework for success.

To most business experts, a balanced scorecard is more than just a tool for strategic performance management. It is also a structured report based on a proven design of methods and automation tools. These can be used by organizational leaders and managers in monitoring the activities of employees, as well as the consequences that might arise from such activities.

There are several other kinds of tools to encourage and measure performance, like results based management that promotes the development of a results leadership group, but the balanced scorecard concept has emerged to be one of the most popular and effective in modern-day organizations. Perhaps one reason for its popularity and effectiveness is the value it gives to financial, as well as non-financial measures. These measures are then compared to target values using concise reports. In some organizations, there might be some confusion in the reporting part because some leaders view the reports as replacements for traditional operational and financial reports. However, these reports must be viewed as summaries that can give the management relevant information, depending on the kind of manager reading or reviewing it.

Some might think it is complicated to implement this kind of concept in an organization. Others believe that this concept follows strict guidelines and the littlest mistakes can spell disaster. What many of these leaders and managers do not know is that the concept has evolved over the years and it has become more flexible and more effective.

These days, several business leaders, executives, and managers are pushing towards the idea of having a balanced scorecard in their organization. And indeed, this concept has changed a lot that it can now fit a good range of organizations and methods based on this concept are now easier to design and use.

Where To Find The Best Deals On Construction Business Cards

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The construction business is a tough industry to be in. If you want to hang in there for a long time and get some great construction orders you will need all your interaction and communication skills for which you will be requiring a good business card. Without a good and appealing business card you will not get new orders. These cards play an important role in getting you great orders. There are a few essentials that you will want to keep in mind when ordering your construction business cards.

First most importantly make sure that your company’s logo is clearly printed on the card. Next your company’s name should be visible. Most importantly your contact numbers must be correctly printed on the business card. Sometimes the number is misprinted on the card and nobody identifies the mistake; in the end it will be you who will have to suffer a loss because you will not be getting orders due to the incorrect number printed on the card.

The material of the card should be chosen with great care. Choose a material that is durable and does not get damaged easily. Business cards is a one time investment so make sure that whatever design, material, font you choose will last for a long time.

The challenging part is finding the best deals on construction business cards. You need to survey the market to find the best deal. Some printers charge less but their printing quality is very poor. Do not compromise on the printing quality just to save a few dollars. Look for deals that offer quality and are affordable. One other place where you can find the best deal is online. There are many websites where you can place your order and your business cards will get printed. Make sure to find the best deal!

How to Choose the Best Trade Show for Your Company

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Trade shows are an important part of your marketing budget; therefore it is important to choose those events that will provide the greatest return on your time and investment.  Before selecting the shows you want to attend, you must measure your trade show exhibit goals.

Organizations use event marketing for different reasons and it is essential to have a clear vision of your specific objectives.  Before committing to a show it is important to answer one or more of the following questions:  How many leads or sales do you want to generate from exhibiting?  How many key decision makers do you want to reach if you are introducing a new product?  Are you going to this trade show to learn about competitors’ products or industry trends?  How many current customers do you want to engage at this particular show?  Once you have determined the objectives of exhibiting use them as a starting point in choosing specific show that would be right for your company.

Thoroughly understanding your buyers and how purchase decisions are mare are essential to selecting beneficial events that will yield results.  This information about your target audience should be used to develop your overall product message and should be incorporated into the   graphics used in you trade show exhibit.

With a perceptive understanding of your goals and audience you will be able to better evaluate events and make informed decisions about the events that represent the best opportunities.  Begin this process by reviewing performance at shows you have attended in the past; if you have had two consecutive disappointing years at any event, it may be time to table this event.  On the other hand, keep successful events at the top of your list of events to attend.

Bev Gray of Exhibit Edge suggest that, “When choosing new events to attend, ask for past attendee lists and demographic information from show sponsors.”  This information will help determine the number and percentage of attendees likely to be prospects for you.  Contact exhibitors from past show to get a feel for the event potential.  Of course, visiting the event prior to exhibiting would be ideal, if possible.  Consider the city where the event is being held; is it likely a large number of your prospects will attend?  Be cautious with new show that cannot provide attendee or performance data.  Ask the event sponsor about targeted market and sponsorship opportunities before, during and after the event.  Inquire about exhibit hall configuration and available space; you want to secure a premium, high-traffic location.  Finally, ask about conference services, power sources, plumbing and any other associated fees you may incur by exhibiting at the show.

Once you have analyzed all your options, look at your final list of show choices and match them against you objectives and how you believe they will perform.  Consider testing a new show from time to time when indicators suggest strong results.

The CRM Process Impact on Business Performance

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The impact of the Customer Relationship Management (CRM) process on business performance is remarkable. It helps a business to become more customer oriented instead of product oriented. It reminds managers and owners that customers are more important than products; customers are the ones keeping the business going.

With the use of the CRM process, the business will know the needs of their customers, as well as their likes and dislikes. Knowing these things, the owner, manager, and employees of the business will be able to determine ways to better deal with their customers. As a result they will gain the trust of the customers, which is rewarding both emotionally and financially. The customers will be happy and satisfied with the services of the business, making them stay longer, and even promoting it to other people.

Implementing the CRM process requires extensive research, appropriate actions, and quite a long period of time because this is a critical task. In order to put the process into action, a number of customers must be included in the study, so all the members of the team should be careful in gathering information from the customers.

The process includes setting goals to achieve during and after implementing CRM. All the members of the team, including the employers should work to achieve these goals. These goals can be achieved through proper data gathering.

The gathering can be made through contacting customers and asking them for feedback regarding the services of the business. The customers also can be asked about their likes and dislikes of the business. Info gathering can be done via phone calls, emails, surveys, or personal interviews. Another way to gather information can be through a pilot study; a study that only involves a few people.

All the gathered information must be shared with all departments or employees. Next, the team will study the data, look at different CRM providers, choose the right CRM solution, and then establish authority and responsibility for enforcing the changes, depending on the size of the business and the people involved.

Dealing with customers during the CRM process must be done appropriately because this practice is the basis of the result. If it is not done well, there is a big possibility that the team could come up with bad results or a wrong methodology that would not help in the improvement of the business. Remember that proper communication will result in good customer relationships.

What is marketing research process ?

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Many people are involved with marketing research surveys on a daily basis and the marketing research process steps do not come into play at all, but a project would be far more effective when carried out in according to a proper plan so that everyone knows what the next stage of the process is, which makes it less random. There are definite market research process steps that have made it easier for market researchers.

International marketing research process steps are altered slightly for the market and the customs of the people of the particular country concerned.

There should be a team and before and after every step the team could liaise and see how the progress is going, analyzing along the way instead of leaving everything until the end. This way the team could give each other input and also encourage each other. There are six steps in the marketing research process.

The first step is to define the problem. The team should meet and assess how they should best go about the survey to meet their needs, taking the background and market amongst other things into account.

Next they would find how to approach the problem. This would come from lots of team discussions and studies from previous cases.

Then they would design questionnaires and plan how they would go about distributing them and the methods involved.

Data Collection is probably one of the most important steps. Then they would  have to decide if you are going to do personal interviews or computer based and internet research or it could be telephonic. This would be what works best for the company.

Data Preparation involves editing of all the data into the computer so that it can be analyzed. This is done as accurately as possible.

Report Preparation and Presentation is the final step is the report that is established from the findings from all the data. All the steps are necessary to complete and should be done in an orderly fashion for the process to be effective.

Marketing Research Process

Acrylic Displays – What is an Acrylic Display Useful For

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An acrylic display case is generally a cabinet made of transparent plastic. This is used for displaying and storing purposes. For shops this is used for displaying items for sale and as for museums it is used for displaying valuable artifacts. The display is made of glass with aluminum framing. Acrylic displays have replaced the traditional wooden and metal displays and does not inherit the disadvantages of the two. Acrylic displays are light are less susceptible to breaking unlike glass.

Acrylic displays can be used to house items such as food, clothing, jewelry, cosmetics, and a whole lot more. Shoppers will find it easy to look at items for sale while shop owners can be confident that their items for sale are safely locked. The display is easily customized for convenience of shoppers. Some cases are designed to rotate so shoppers don’t have to go around the casing to get a closer glimpse of the items therein.

As for the acrylic material, it is a sturdy clear plastic that is used as an alternative to using glass and just like plastic; it is versatile because it can be shaped to be artistic. Acrylic displays are not limited to box displays; it can also be shaped like book shelves, napkin holders, cigarette casing, toilet paper holder, giant aquariums, and others.

Acrylic is a malleable and ductile material making it more durable than glass, making it the preferred choice today when it comes to encasing valuable items in business establishments or displaying historical items. Acrylic displays are cheaper than other displays made of other materials that is why any starting business person should go for it because it is practical, economical, and looks just as good as glass displays without the risky that glass possesses. It can even be painted over to bear your shop’s name.