Speed and Time


Speed and time measures are very important factors to many customers. The speed with which your company can deliver, whatever it provides, can actually gain you competitive advantage and allow you to offer higher satisfaction, and maybe even demand, or ask a price premium from your customers for that convenience of doing things faster or quicker. However it is not just about the core product, it is also about every single contact or initiation with a customer, from answering the telephone, to replying letters, to the length of a phone call, to how long you’ve been put on hold etc. the customer measures all these factors, largely unconsciously.

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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Top Management Attitudes


Whether employees behave ethically depends largely on the actions and attitudes of top management. For instance, if a code of ethics tells employees that bribing overseas clients is against company, but management looks  the other way when bribes are successful in winning large contracts, the code is likely to be taken seriously. Also, companies must not encourage unethical behavior by setting unrealistic goals that can be met only by cutting ethical corners, and they must not condone cheating to help the company.

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.

Organizational Planning to Compete


Many businesses have no long-term aspiration; they quite simply want to achieve something and then move on. This applies at times to both task-oriented commercial and non-commercial organizations.

Many individuals tasked with running an organization have little or no social interest in the long-term failure of it and limit their interest to the time that they will be responsible for (and indeed benefit from) the organization’s success. This can happen regardless of the aspirations of the organization’s stakeholders.

Some markets are so changeable that any detailed investment and planning for the future proves largely futile.

There are times when too great a concern for the future will detract attention from short-term priorities and damage an organization’s current prospects, which will in turn damage long-term prospects as well.

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.

Theory of Foreign Direct Investment


Monopolistic advantage theory was developed by Stephen Hymer, the modern monopolistic advantage theory demonstrates that foreign direct investment occurs largely in oligopolistic industries rather than in industries operating under near-perfect competition.

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.

Knowledge Management Strategy


What does it mean for an organization to have a knowledge management strategy? If we think of a corporation as an individual, then a corporation’s knowledge management strategy may be likened to individuals’ strategy to obtain an education and to apply their knowledge and learning to advance their career. If an individual’s education consisted of nothing more than acquiring information (as was largely the case some 50 years ago) he or she would be woefully unprepared to deal with today’s rapidly changing business environment. By the same token, if an organization’s knowledge management strategy focused solely on information flow, it would also be unable to deal with the challenges of doing business in the knowledge era.

Developing a knowledge management involves four basic steps:

  1. Dialogue, discuss, debate and define your objectives;
  2. Formulate a strategy;
  3. Devise the tactics; and
  4. Then act.

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.

 

Private Enterprise


Private or free, enterprise is the economic system. It means that most of the country’s goods and services are provided by privately owned firms that compete with a minimum of government controls. The private enterprise system has six key characteristics:

  1. Private Ownership of Property: most businesses, land, minerals, buildings, machinery, and personal goods are owned by people, not by governments. This ownership is the right of people. It is an incentive to work hard to acquire and care for our own property. This sort of incentive contributes to the economic growth of the country.
  2. Freedom of choice and limited government: Freedom of choice allows businesses to select the products they produce, hire and fire employees, compete for customers and supplies, and make and dispose of profits. Freedom of choice also allows consumers to buy whatever products and services they are willing and able to buy from whichever firms they choose. Freedom of choice implies a limited amount of government intervention in the area of private enterprise. In a free enterprise system, government sets the” economic rules of the game” by establishing basic laws and regulations that ensure society’s welfare. But within the context, individuals and organizations are left largely free to pursue their own interests and inclinations.
  3. Consumer sovereignty: Consumers rule; the more carefully they make their decisions, the more clearly the economy will reflect their needs. The more money you spend in the marketplace, the greater your influence.
  4. Profits: Profits make businesses responsive to consumer wants. Profits are also a good indicator of where to expand and how to compete better. As a shop owner you can also compare the overall profits with past results or with profits of other businesses to gauge how well your shop is doing. Profits are the clearest standard of performance available to a business. But consumers often misinterpret business profits. They also don’t always understand how profits direct a business’ efforts. And consumers usually substantially overstate how high business profits actually are.
  5. Competition: Most business leaders believe their industries are highly competitive. But the term “competitive” has many meanings. Pure, or perfect, competition exists in an industry when 1) there are many firms of about equal size, 2) all firms produce the same product, 3) each firm can enter or leave the industry when it wants, and 4) all firms and customers are well-informed about prices and availability of products. No industry completely satisfies all these conditions, although some come close. Most industries operate under conditions of imperfect competition. This means they satisfy some but not all the conditions of pure competition.
  6. Productivity: Productivity is essential to the economy, whether it means designing faster microcomputers or better-testing toothpaste. Increased productivity helps offset inflation and keep prices down. Productivity is defined as real output (the value of the product independent of price changes) per working hour, and it is usually written as a percentage.

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.

Product Life Cycle


Once the market has emerged and a firm has decided to enter, it must still contend with uncertinities in the products in the market. The marketing literature offers a parallel to the technology life cycle: the product life cycle. A product has four predictable stages with distinctive characteristics, marketing objectives, and strategies. The introduction stage starts when the new product is launched. Sales are low, costs per customer are high, profits are negative, customers are largely lead users, and competitors are few. In the growth stage, sales rise rapidly, costs per customer start to drop, profits start rising, and the number of customers also increases. In the maturity stage, sales peak, costs per customer are low, profits are high, and the number of competitors is stable. In the decline stage, sales start to decline, costs per customer increase, profits arte declining, and the number of compititors is also declining. These characteristics call for specific strategies. For example, in the introduction stage, a firm’s objective is to create product awareness, and product strategy is to offer a basic product. The demand in each market is fulfilled by a seriies of different generations of products, with the first one introduced at the emergence of the market.

 

The main drawback in using the product life cycle to reduce uncertainty is that number of stages and duration of each vary from product to product. It is also difficult to tell when a stage starts and ends. In any case, they provide some regularities to help a firm know when and what to invest in an innovation.

 

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, Line of Sight

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