Small Business


A small business is a business that must have at least two of the following characteristics: 1) independent management with the managers often owning the firm, 2) the capital contribution coming from a limited number of individuals—perhaps only one, 3) the firm operating in a local area, and 4) the firm representing a small part of the overall industry.

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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The Contemporary World


By the end of World War 11 in 1945, the Industrial Revolution was complete. The need for war goods required the development of new forms of production and technology, which later were used to produce consumer goods. Inventiveness was at high peak. Synthetic plastics and chemicals replaced natural substances as the basis for many products. Better machinery made it possible to manufacture products to produce precise specifications. (This type of precision is what lead eventually to the Apollo moon shot, which required components that were accurate to several one-hundred thousandths of an inch.)

In the 1970s, widespread use of computers enabled the management to process large quantities of data. Factories could be automated, with computer-controlled machinery carrying out many routine activities that could previously be completed only by time-consuming human labor.

By 1980, more than 80 percent of US 500 largest businesses were multinational, operating facilities in five or more foreign countries. And even for smaller companies and individual consumers, the world has become more like a large neighborhood than a huge, unknowable planet. High-speed computers, orbiting satellites, fluctuating exchange rates, and worldwide scarcities of natural resources bind us together with common needs, concerns, and goals.

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.

Toyota’s Supply Chain


The first-tier firms play a key role in Toyota’s Supply Chain. There are six areas in which these firms act  as the pivotal part of the system.

  1. Quality Buffer
  2. Gaining
  3. System Developer
  4. Purchaser
  5. Designer
  6. Problem Solvers

Within the Toyota supplier network there is only a small reliance on the micro firms. However, the key to Toyota’s success cannot lie within such very small firms at the 3rd and 4th tiers as they are only responsible for 3 percent of the value=adding processes, although due to their high productivity  this yields a 10 percent total productivity advantage  to the total Toyota supplier network.

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.

Who Innovates?


Schumpter first suggested that small entrepreneurial firms were the sources of most innovations. Later he changed his view and suggested that large firms with some degree of monopoly power were more likely to be the sources of technological innovation. He argued that large firms have the production and other complementary assets that are necessary to commercialize an invention; have the size to exploit the economies of scale that are prevalent in R&D; are more diversified and therefore more willing to take the kind of risk that is inherent in R&D projects; have better access to capital that smaller firms; and, as monopolists, do not have competitors ready to imitate their innovations and therefore are more likely to invest in them. By shifting the focus to the type of innovation, however, whether incumbents or new entrants are able to introduce and exploit innovation is a function of whether the innovation is incremental—a function of how new knowledge and the new product are.

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.

Writing a Marketing Plan


  • Use a direct, professional writing style. Use appropriate business and marketing terms without jargon. Present and future tenses with active voice are generally better than past tense and passive voice.
  • Be positive and specific. At the same time, avoid superlatives (such as terrific, wonderful). Specifics are better than glittering generalities. Use numbers for impact, justifying computations and projections with facts or reasonable quantitative assumptions where possible.
  • Use bullet points for succinctness and emphasis. As with the list you are reading, bullets enable key points to be highlighted effectively and with great efficiency.
  • Use “A level” (the first level) and “B level” (the second level headings under major section headings to help readers make easy transitions from one topic to another. This also forces the writer to organize the plan more carefully. Use these headings liberally, at least once every 200 to 300 words.
  • Use visuals where appropriate. Illustrations, graphs, and charts enable large amounts of information to be presented succinctly.
  • Shoot for a plan 15 to 35 pages in length, not including financial projections and appendices. An uncomplicated small business may require only 15 pages, while a new business startup may require more than 35 pages.
  • Use care in layout, design, and presentation. Laser or ink-jet printers give a more professional look than  do dot matrix printers or typewriters. A bound report with a cover and clear title page adds professionalism.

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.

Flexibility


Flexibility means adapting to changing market demands. Small businesses usually have only one layer of management—the owners. Decisions therefore can be made and carried out quickly. In large firms, decisions about even minute matters can take weeks because they must pass through two or more levels of management before action is authorized.

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.

Non Price Competition


In spite of the emphasis placed on price in microeconomic theory, marketers often compete on product attributes other than price. You may have noted that price differences between products such as gasoline, men’s haircuts, candy bars, and even major products such as compact cars and private colleges are often small, if there is any price difference at all. Very rarely will you see price used as a major promotional appeal on television. Instead, marketers tend to stress product images and consumer benefits such as comfort, style, convenience, and durability.

Many organizations promote the services that accompany basic products rather than price. The idea is to make a relatively homogeneous product better by offering more service. Quite often the reason marketers emphasize non-price is because prices are so easy to match. Few competitors can match the image of a friendly, responsive, consumer-oriented 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.

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