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.

Small Business: Causes of Failure


  • Plunging in without first testing the waters on a small scale.
  • Underpricing or overpricing goods or services.
  • Underestimating how much time it will take to build a market.
  • Starting with too little capital.
  • Starting with too much capital and being careless in its use.
  • Going into business with little or no experience and without first learning something about it.
  • Borrowing money without planning just how and when to pay it back.
  • Attempting to do much business with too little capital.
  • Not allowing for setbacks and unexpected expenses.
  • Buying too much on credit.
  • Extending credit too freely.
  • Expanding credit too rapidly.
  • Failing to complete, accurate records, so that the owners drift into trouble without realizing it.
  • Carrying habit of personal extravagance into the business.
  • Mistaking the freedom of being in business for oneself, for liberty to work or not according to whim.

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.

Checklist for Evaluating a Franchise


The Franchise

  • Did your lawyer approve the franchise contract you are considering after he or she studied it paragraph by paragraph?
  • Does the franchise give you an exclusive territory for the length of the franchise?
  • Under what circumstances can you terminate the franchise contract and at what cost to you?
  • If you sell your franchise, will you be compensated for your goodwill (the value of your business’s reputation and other intangibles)?
  • If the franchisor sells the company, will your investment be protected?

The Franchisor

  • How many years has the firm offering you a franchise been in operation?
  • Has it a reputation for honesty and fair dealing among the local firms holding its franchise?
  • Has the franchisor shown you any certified figures indicating exact net profits of one or more going firms which you personally checked yourself with the franchisee? Ask for the company’s disclosure statement.
  • Will the firm assist you with:

A management training program?

An employee training program?

A public relations program?

Capital?

Credit?

Merchandising ideas?

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.

Defining Oligopoly


An oligopoly is a form of competition in which a market is dominated by just a few sellers. Generally, oligopolies exist in industries that produce products such as steel, cereal, automobiles, aluminum, and aircraft. One reason some industries remain in the hands of a few sellers is that the initial investment to enter an oligopolistic industry is usually tremendous. Think what it would cost to build a steel mill or an automobile assembly plant. In an oligopoly, prices tend to be close to the same. Note, for example, how most credit cards charge very similar rates. The reason for this is simple. Intense price competition would lower profits for all the competitors, since a price cut on the part of one producer would most likely be matched by others. Product differentiation, rather than price differentiation, is usually the major factor in market success in a situation of oligopoly.

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.

 

Delegation


This can be critical to an organization, because employees are not allowed to develop the responsibilities and confidence levels that come only with being given full credit or blame for outcomes. If a boss is always butting in and making corrections, or double checking everything before it is sent out, then the worker can never grow. The corollary is that the boss doesn’t grow either, being too busy running around trying to do everyone else’s work.

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.

 

The Utilities Created by Marketing


 

All of marketing’s functions are performed to move goods from products to consumers. During this process, marketing adds utility (value) to goods and services. There are five types of utilities: 1) form, 2) time, 3) place, 4) possession, and 5) information.

1)      Form utility: refers to the changing of raw materials into a finished product. Taking grains and turning them into cereal is an example of form utility. Form utility is usually considered a production function rather than a marketing function.

2)      Time utility: it helps consumers by making products available when the consumer wishes. Supermarkets that are open 24 hours a day provide time utility. Making fresh fruit available in the winter is also a form of time utility.

3)      Place utility: it makes sure that the goods and services are conveniently located where consumers want them.

4)      Possession utility: it helps make the exchange of goods between buyers and sellers easy.  Anything that helps complete the sale – delivery, installation, warranties, credit – is considered part of possession utility.

5)      Information utility: it informs buyers of the product’s existence, how to use it, the price, and other facts. Such information is provided through advertising, salespeople, and packaging.

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.

 

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