Best Practices of Microsoft


Microsoft Chairman Bill Gates has credited his best practices or new rules of how to function in the new digital business infrastructure. They can be applied in other businesses. The rules include:

  1. Insist that communications flow through email
  2. Study sales data online to share insights easily
  3. Shift knowledge workers into high level thinking
  4. Use digital tools to create virtual teams
  5. Convert every paper process to  digital process
  6. Use digital tools to eliminate single-task jobs
  7. Create a digital feedback loop
  8. Use digital systems to route customer complaints immediately
  9. Use digital communication to redefine boundaries
  10. Transform every business process into just-in-time delivery
  11. Use digital delivery to eliminate middlemen
  12. Use digital tools to help customers solve problems for themselves.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Advertisements

Business Goals


Business goals or objectives convert the organization’s mission into tangible actions and results that are to be achieved, often within a specific time frame. Goals or objectives divide into three major categories: production, financial, and marketing. Production goals or objectives apply to the use of manufacturing and service capacity and to product and service quality. Financial goals or objectives focus on return on investment, return on sales, profit, cash flow, and shareholder wealth. Marketing goals or objectives emphasize marketing share, marketing productivity, sales volume, profit, customer satisfaction, and customer value creation. When production, financial, and marketing goals or objectives are combined, they represent a  composite picture of organizational purpose within a specific time frame, accordingly, they must complement one another.

Goal and objective setting should be problem-centered and future-oriented. Because goals or objectives represent statements of what the organizations wishes to achieve in a specific time frame, they implicitly rise from an understanding of the current situation. Therefore, managers need an appraisal of operations or a situation analysis to determine reasons for the gap between what was or is expected and what has happened or will happen. If performance has met expectations, the question arises as to future directions. If performance has not met expectations, managers must diagnose the reasons for this difference and enact a remedial program.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Fear Appeals


Companies sometimes use fear appeals in attempting to motivate customers to action. The underlying logic when using fear appeals is that fear will stimulate audience involvement with a message and thereby promote acceptance of message arguments. The appeals may take the form of social disapproval or physical danger. For example, mouthwashes, deodorants, toothpastes, and other products make us aware of the social disapproval we may suffer if our breath is not fresh, if our underarms are not dry, or if our teeth are not white.

Aside from the basic ethical issue of whether fear should be used at all,  the fundamental issue for marketing communicators is determining how intense the fear presentation should be.

When using fear appeals, advertisers stand a greater chance of converting numerous of a product to its use than of convincing consumers to switch brands.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Forces in the Environments


Environment is the sum of all the forces surrounding and influencing the life and development of the firm. The forces themselves can be classified as external or internal. Management has no direct control over them, though it can exert influences. The external forces are commonly called uncontrollable forces and consist of the following:

  1. Competitive: kinds and numbers of competitors, their locations, and their activities.
  2. Distributive: national and international agencies available for distributing goods and services.
  3. Economic: variables (such as GNP, unit labor cost, and personal consumption expenditure) that influence a firm’s ability to do business.
  4. Socio-economic: characteristics and distribution of the human population.
  5. Financial: variables such as interest rates, inflation rates, and taxation.
  6. Legal: the many kinds of foreign and domestic laws by which international firms must operate.
  7. Physical: elements of nature such as topography, climate, and natural resources.
  8. Political: elements of nations’ political climates such as nationalism, forms of government, and international organizations.
  9. Socio-cultural: elements of culture (such as attitudes, beliefs, and opinions) important to international businesspeople.
  10. Labor: consumption, skills, and attitudes of labor.
  11. Technological: the technical skills and equipment that affects how resources are converted to products.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Managing Cash and Near Cash


Cash and near cash (interest-bearing assets easily converted to cash) are needed to conduct day-to-day business operations like paying employees and meeting emergencies. How much of these assets managers need depends on how well they have done their financial planning, how many other current assets the firm holds, and the range of normal business fluctuations.

Cash itself pays no interest. So the financial manager must be careful to (1) speed up collection of monies due; (2) conserve funds; and (3) place idle cash in interest-bearing assets (near cash) until it is needed.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Converting Needs to Wants


Every consumer must acquire goods and services on a continuing basis to fill certain needs. Everyone must satisfy the fundamental needs for food, clothing, shelter, and transportation by purchasing things or, in some instances, temporarily using rented property and hired or leased transportation. By focusing on the benefits resulting from these goods and services, effective marketing converts needs to wants. A need for clothing may be translated into a desire (or want)  for designer clothes.

As easier-to-use software has enabled millions of nontechnical consumers to operate personal computers and as falling retail make these computers affordable to most households, computers have become fixtures in many offices and homes.

Companies that adopt the marketing concept focus on providing solutions to consumer problems. They promote product benefits rather than features to show the added value that computers will receive from the product.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Production Management


Production is the use of people and machines to convert materials into finished products and supply these products to customers. Production includes three key stages: product development, purchasing, and manufacturing.

The development of a new product involves six steps: idea generation, screening, business analysis, product development, test marketing, and commercialization. Roughly, one in 58 new product ideas becomes a commercial success.

When the product development department designs a new product, a make-buy decision determines which components will be bought from outside suppliers and which will be made by the firm itself.

The six steps in purchasing raw materials and semi-finished and finished parts are 1) recognizing what is needed, 2) developing specifications, 3) requesting bids and selecting a vendor, 4) following up with the vendor, 5) receiving the order, and 6) evaluating the vendor.

Mass production and automation have revolutionized manufacturing methods and have made higher quality, standardized products available at lower prices.

The three classifications of manufacturing operations are standard versus custom manufacture, continuous versus batch process, and analytic versus synthetic process.

Once final products are assembled, the transportation section must ship them to customers on time and in good condition. The managers here use one of the five modes of transportation: highway, rail, air, water, and pipeline. Developments such as piggyback service and containerization allow a business to use two or more transportation modes to move shipment over long distances.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Previous Older Entries