Availability of Warranties


In countries where consumer rights are protected, the seller makes the written warranty terms available to the prospective buyer before the sale. The text of the warranty is often displayed next to the product, or on the package in which the product is enclosed. Warranty terms can also be collected in notebooks in the department that sells the goods and may even be microfilmed, so long as the prospective buyer can readily use the microfilm reader. The maker of the warranty is required to make the text of the warranty available to sellers in forms that sellers can readily use, such as providing copies of the written warranty with each product, or on a tag, sticker, label, or other attachment to the product, or on a sign or poster. These warranty requirements also cover catalog and door-to-door sales.

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.

Sole Proprietorships


Sole proprietorships, businesses owned and operated by one individual, are the most common form of business organization. Sole proprietorships are generally managed by their owners. Because of this simple management structure, the owner/manager can make decisions quickly. This is just one of many advantages of the sole proprietorship form of business.

Ease and Cost of Formation: Forming a sole proprietorship in relatively easy and inexpensive. In some countries, creating a sole proprietorship involves merely announcing the new business in the local newspaper. Other proprietorships, such as barber shops and restaurants, may require state and local licenses and permits because of the nature of the business. No lawyer is needed to create such enterprises, and the owner can usually take care of the required paperwork.

An entrepreneur starting a new sole proprietorship must find a suitable site from which to operate the business. Some sole proprietors look no farther than their garage or a spare bedroom that they can convert into a workshop or office. Computers, personal copiers, fax machines, and other high-tech gadgets have been a boon for home-based businesses, permitting them to interact quickly with customers, suppliers, and others. Many independent salespersons and contractors can perform their work using a notebook computer as they travel. E-mail and cell phones have made it possible for many proprietorships to develop in the service area.

Secrecy: Sole proprietorships make possible the greatest degree of secrecy. The proprietor, unlike the owners of a partnership or corporation, does not have to discuss publicly his or her operating plans, minimizing the possibility that competitors can obtain trade secrets. Financial reports need not be disclosed.

Distribution and Use of Profits: All profits from a sole proprietorship belong exclusively to the owner. He or she does not have to share them with any partners or stockholders. The owner decides how to use the profits.

Flexibility and Control of the Business: The sole proprietor has complete control over the business and can make decisions on the spot without anyone else’s approval. This control allows the owner to respond quickly or competitive business conditions or to changes in the economy.

Government Regulation: Sole proprietorships have the most freedom from government regulation. Most government regulations apply only to businesses that a certain number of employees, and securities laws apply only to corporations that issue stock. Nonetheless, sole proprietors must ensure that they follow all laws that do apply to their business.

Taxation: Profits from the business are considered personal income to the sole proprietor and are taxed at individual tax rates. The owner pays one income tax.

Closing the Business: A sole proprietorship can be dissolved easily. No approval of co-owners or partners is necessary. The only legal condition is that all loans must be paid off.

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.

Sales Call Reports


When the members of a sales staff are spread out over a large geographic area, sales call reports are a critical components of a sales manager’s efforts to keep a finger on the pulse of what is going on in the territory.

It is critical for both sales and management to have a finger on the pulse on the business. This means knowing where the business is and where it isn’t, and being able to analyze the situation by product, by geography, and by timing. This allows everyone to do a better job at sales planning.

There are, of course, a variety of means by which a sales call report can be delivered to a sales manager. Sales reports that are submitted by mail often do not arrive on a timely enough basis to allow them to be as useful as they should be. Every sales manager will, from time to time, discover in a sales call report a situation that requires, in the manager’s judgment, immediate attention.

The electronic mail component of a sales automation system is completely portable. Sales force automation allows a salesperson with a notebook computer to communicate with a similarly equipped sales manager anytime, anyplace. Better still Black Berry handsets with GPRS connection is the best solution.

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