Minor innovations make up 85% to 90% of companies’ development portfolios, on average, but they rarely generate the growth companies seek. At a time when companies should be taking bigger—but smart—innovation risks, they are moving in other directions and the ability of organisations to take big risk as compared to 1990 and the reason for this decline is organisations tendecy to play safe so they take very little steps towards innovation and the result of this is they are not growing as they ought to be.
As I have studied there are two types of Risks Small I and Big I
Small I
It is the lower level of risk when organisations take low risk as they want to play safe game in Small I .The resultant of this Small risk is that it don't give competitionces among competitiors and it also contribute less to profitabilty.
Big I
It is higher level of risk it is new to the company or new to the world—that push the organisation into diffrent markets or innovative technologies and can generate the profits needed to close the gap between revenue forecasts and growth goals.
Two tools are present which help the organisations in assessing the results of the risk that they want to take and also helps them in predicting the future of the Risk.
RISK MATRIX
R-W-W (“real, win, worth it”)
Risk Matrix
It will graphically reveal risk exposure across an entire innovation portfolio. The risk matrix employs a unique scoring system and calibration of risk to help estimate the probability of success or failure for each project based on how big a stretch it is for the organisation.
R-W-W (“real, win, worth it”)
It can be used to evaluate individual projects. Organisation should use new and real strategies to take risk then after that it helps organisations in evaluating the win factor in the risk and in the end organisation evalute that it is worth to take risk and how it will be helpful in future.
So if any organisation wants to be successsful in future they must take risk but after strong evaluation only.
So are you ready to take BIG I .
Friday, March 27, 2009
Successful Entrepreneurs Secret
Hi friends
Today everyone wants to start their own enterprise and wants to become successful entrepreneur but few reach to that peak and there are three reasons that a entrepreneur's have in their life which makes them happy and successful are Smarts , Guts and Luck .If a person is having all these things in his/her life than he/she can become good entrepreneur in this world.So lets have discussion on them.
SMARTS
Successful Entrepreneur's possesses good understanding, intuition ,emotional and conceptual intelligence thus they can find the solution of the problem quite easily without using much analysis and books and this is themain difference between a CEO and Founder as Founder knows how he can take his company on top and CEO uses or implements the strategies given in the books to get success.
GUTS
Successful entrepreneurs have so much guts that they always ready to take risks in their business and everyone knows that if their is risk their is success and also entrepreneurs never think of the resources that they not having they always think positive and remains happy with the resources that they are possess.Successful entrepreneurs always have passion to be on top of the world and this intiution makes them successful in their life .
LUCK
To be successful in this globe with hard work they also need luck in their life and if a person have ability to work,is smart,have guts and also have luck then he/she can become successful entrepreneur in their life.
So if a person is Smart , have Guts and also have luck with him then no one can stop him in becoming a successful entrepreneur in this world.
BEST OF LUCK
Today everyone wants to start their own enterprise and wants to become successful entrepreneur but few reach to that peak and there are three reasons that a entrepreneur's have in their life which makes them happy and successful are Smarts , Guts and Luck .If a person is having all these things in his/her life than he/she can become good entrepreneur in this world.So lets have discussion on them.
SMARTS
Successful Entrepreneur's possesses good understanding, intuition ,emotional and conceptual intelligence thus they can find the solution of the problem quite easily without using much analysis and books and this is themain difference between a CEO and Founder as Founder knows how he can take his company on top and CEO uses or implements the strategies given in the books to get success.
GUTS
Successful entrepreneurs have so much guts that they always ready to take risks in their business and everyone knows that if their is risk their is success and also entrepreneurs never think of the resources that they not having they always think positive and remains happy with the resources that they are possess.Successful entrepreneurs always have passion to be on top of the world and this intiution makes them successful in their life .
LUCK
To be successful in this globe with hard work they also need luck in their life and if a person have ability to work,is smart,have guts and also have luck then he/she can become successful entrepreneur in their life.
So if a person is Smart , have Guts and also have luck with him then no one can stop him in becoming a successful entrepreneur in this world.
BEST OF LUCK
Tuesday, March 24, 2009
Marketing Performance Measurement
Hi Friends
From last few days i am working with an advertising firm which is promoting food chain restaurant .So today I want to share my views with you all.
As we all know that there are different ways through which companies used to do marketing of their product or their Brand Name and they used to spend a huge amount of capital for marketing of their product.
There are different ways for doing marketing such as
* By the help of advertisements in newspapers,magazines etc
* By the help of Mass Media.
* By the help of Radio's ,Dramas etc.
* By the help of interaction with customers and telling them about their product.
This is all about the marketing strategies that organizations usually use to market their products but they also keep one thing in regulation that how their marketing strategy performing or they have to do some ammendmants .
So organizations use marketing performance management tool to see the utilization of their resources
Organizations use three steps to check their performance are
Data
Data is the basic tool that is used in performance management as when we are having data then only managers can convert data into information which can be used for analysis and metrics which are the next steps of managers.
Analytic
By thoroughly analyzing the data, organizations can gather actionable business insights to improve the marketing effectiveness and marketing efficiency. For example, organizations can use the analytic to drive the marketing return on investment, and make faster and better business decisions which are the basic needs and role of managers.
Metrics
Metrics is the tool which is used to show the analysed data in the form of graphs,tables,diagrams which show analysed data some specific metrics include marketing's impact on share of preference, rate of customer acquisition, average order value, rate of new product and service adoptions, growth in customer buying frequency, volume and share of business, net advocacy and loyalty, rate of growth compared to competition and the market, margin, and customer engagement.
Marketing Performancce management is used to measure the monitoring of operational efficiency and performance and it also help marketers to measure efficently resources of the organization are used and how much efficent in making customer as compared to other which would be cheaper than this
So at this time of recession we should maintain our Performance mangement tools updated and on sharp edge because at this time if you loose something other will definately grab it .
From last few days i am working with an advertising firm which is promoting food chain restaurant .So today I want to share my views with you all.
As we all know that there are different ways through which companies used to do marketing of their product or their Brand Name and they used to spend a huge amount of capital for marketing of their product.
There are different ways for doing marketing such as
* By the help of advertisements in newspapers,magazines etc
* By the help of Mass Media.
* By the help of Radio's ,Dramas etc.
* By the help of interaction with customers and telling them about their product.
This is all about the marketing strategies that organizations usually use to market their products but they also keep one thing in regulation that how their marketing strategy performing or they have to do some ammendmants .
So organizations use marketing performance management tool to see the utilization of their resources
Organizations use three steps to check their performance are
Data
Data is the basic tool that is used in performance management as when we are having data then only managers can convert data into information which can be used for analysis and metrics which are the next steps of managers.
Analytic
By thoroughly analyzing the data, organizations can gather actionable business insights to improve the marketing effectiveness and marketing efficiency. For example, organizations can use the analytic to drive the marketing return on investment, and make faster and better business decisions which are the basic needs and role of managers.
Metrics
Metrics is the tool which is used to show the analysed data in the form of graphs,tables,diagrams which show analysed data some specific metrics include marketing's impact on share of preference, rate of customer acquisition, average order value, rate of new product and service adoptions, growth in customer buying frequency, volume and share of business, net advocacy and loyalty, rate of growth compared to competition and the market, margin, and customer engagement.
Marketing Performancce management is used to measure the monitoring of operational efficiency and performance and it also help marketers to measure efficently resources of the organization are used and how much efficent in making customer as compared to other which would be cheaper than this
So at this time of recession we should maintain our Performance mangement tools updated and on sharp edge because at this time if you loose something other will definately grab it .
Thursday, March 19, 2009
Think Of Economic Future in Recession
Today in every part of the world lot of chaos is prevailing that what will happen tomorrow ?
May be tomorrow my manager will give me Pink Slip,my bank will become bank krupt in which put my savings,how much share market will fall and it will break which record of highest slowdown and may be my country will become beggar in front of other countries.
Today everyone is having this feeling and this slow down is becoming worse day by day because of our negative attitude that is circulating in our minds as we stopped thinking positive that is why till today we did not get the right path to overcome this recession.
This recession is showing devastation in every field as we have stopped thinking or using our brains and we totally depending only on think tanks of the world for the solution .No we have to start thinking and work as a team globally to beat this small ghost.
Some ideas that can help or we can do->
Start a new company is the most fruitfull and innovative idea as I told you before at this time of recession because at this time you will get best talent in market , help from the govt in taxes and other facilties , low invertory cost, cheap labour and also help from the financial institutions.
Start finding a new job as many people are taking decision to start their new business and they want best talent to promte their business and if you are having talent, knowledge and experience you can make wonders with them and also in these new start ups you will definately get experience how to work in startups at the time of recession.
Start investing in the organizations whom you trust that they will handle this recession and will come out of this as early as possible and dont think of falling of share market .Today share market is at 9000 as it was in 1997 it started booming from there only with some new innovations wait it will roar again like a hungry tiger and will give you great returns for your patience.
If you are out of your job don t think that your life ends no its a dawn in your new life think in this sense " You are back with a bang now you can do whatever you wanted to do either go for higher studies ,full fill your desires as you had to leave because of your job so do it now".
All of us have to start thinking positive.
So be +ve .
May be tomorrow my manager will give me Pink Slip,my bank will become bank krupt in which put my savings,how much share market will fall and it will break which record of highest slowdown and may be my country will become beggar in front of other countries.
Today everyone is having this feeling and this slow down is becoming worse day by day because of our negative attitude that is circulating in our minds as we stopped thinking positive that is why till today we did not get the right path to overcome this recession.
This recession is showing devastation in every field as we have stopped thinking or using our brains and we totally depending only on think tanks of the world for the solution .No we have to start thinking and work as a team globally to beat this small ghost.
Some ideas that can help or we can do->
Start a new company is the most fruitfull and innovative idea as I told you before at this time of recession because at this time you will get best talent in market , help from the govt in taxes and other facilties , low invertory cost, cheap labour and also help from the financial institutions.
Start finding a new job as many people are taking decision to start their new business and they want best talent to promte their business and if you are having talent, knowledge and experience you can make wonders with them and also in these new start ups you will definately get experience how to work in startups at the time of recession.
Start investing in the organizations whom you trust that they will handle this recession and will come out of this as early as possible and dont think of falling of share market .Today share market is at 9000 as it was in 1997 it started booming from there only with some new innovations wait it will roar again like a hungry tiger and will give you great returns for your patience.
If you are out of your job don t think that your life ends no its a dawn in your new life think in this sense " You are back with a bang now you can do whatever you wanted to do either go for higher studies ,full fill your desires as you had to leave because of your job so do it now".
All of us have to start thinking positive.
So be +ve .
Sunday, March 15, 2009
Is it a right time to start a business
When Global Recession is hitting every part of the world- organizations, banks , financial institutions are falling like pack of cards , millions of people lost their jobs, countries going bankrupt ,trade industry is trumbling down and countries GDP is becoming negative.
At this time if you say someone that you want to start your enterprise everyone will say are you mad or some people will say you are living in which world .Maximum number of people will criticise your decision to start your enterprise but in reality you are taking a right decision .You are investing your finance or money in your enterprise rather than becoming shareholder of other company when the share market is falling without any stoppage.
Reasons why it will be beneficial to start a business in this recession->
*At this time everything is cheaper from building space to commercial equipments to labour and government will also help in establishing your firm as they want to encourage other people to invest or finance and your enterprise will provide employment to number of people it will somewhat reduce their pressure of unemployed people.
Even for your enterprise you can hire better qualified at less income because millions of people lost their jobs even qualified people so they can work in less wages as it is opportunity for them to work as compared to sit at home ideally and it will benefit you in getting experienced and well qualified person at less wage .
From a cost perspective, everything is on the table for most companies. Even if your prices are higher, if you can come in with greater value, you have a good chance at winning new business. You also have the advantage of being the new kid on the block when it comes to pitching your products and services. Many companies are desperate to find new partnerships with new companies that have a different, better or more innovative way of delivering those products and services.
Family and friends do not want to invest more in real marketand shares it means they may be willing to finance a portion of your new venture, or the expansion of an enterprise that has proven itself over time. The main benefit is that they know you and have a relationship with you and if you have a solid business plan that delivers real numbers, your chances of raising the capital you need increase exponentially
At this time suppliers will give good amount of credit as credit market is virtually tuned down
and as the raw materials with suppliers are pilling up and it is becoming their headache so they can give the raw material on credit and it is a win win situation for you because with less investment you are owing to start business and with less investment you are setting up your organization.
The media loves aberrations, and if you are optimistic by expanding or getting into business now, you would be in that category. That means you can generate some great PR by demonstrating your "alternative" view of the market.Definately it will helpfull as it is your free advertisment without any investment in marketing .You are getting marketing naturally as you are going against the tide everyone will cover your move.
At this time of recession when you develop Balance Score card of your enterprise it will show wonders as the investment is less and returns are good .If you think from the managerial economic prospective you are taking decision at right time when the prices of everything is low and expecting a great return and will be helpful in future.
This is simply being aware of good opportunities others have buggered up, and finding deals where you could get an entire business simply by taking over a lease (along with all the equipment). Many business owners want out at any cost, meaning you can negotiate great win-win deals that allow the current owners an escape while giving you an opportunity to turn around what could be, if run right, a very viable business.
Sometimes, the best business decision is the one you are forced into, and the incentive (as well as need) for income is often enough to push those previously "on the fence" to strike out on their own. There's nothing wrong with being in this position; it simply means there is greater urgency to do something that will start to generate income as quickly as possible.
So investing in starting your own business at this time will be great rather than relying on other organization and if you want to take less risk.
You must follow the Risk management.
Go for Franchise as it is safe business in starting.
Invest in Educational Institutions.
So Best Of Luck for new Business
At this time if you say someone that you want to start your enterprise everyone will say are you mad or some people will say you are living in which world .Maximum number of people will criticise your decision to start your enterprise but in reality you are taking a right decision .You are investing your finance or money in your enterprise rather than becoming shareholder of other company when the share market is falling without any stoppage.
Reasons why it will be beneficial to start a business in this recession->
*At this time everything is cheaper from building space to commercial equipments to labour and government will also help in establishing your firm as they want to encourage other people to invest or finance and your enterprise will provide employment to number of people it will somewhat reduce their pressure of unemployed people.
Even for your enterprise you can hire better qualified at less income because millions of people lost their jobs even qualified people so they can work in less wages as it is opportunity for them to work as compared to sit at home ideally and it will benefit you in getting experienced and well qualified person at less wage .
From a cost perspective, everything is on the table for most companies. Even if your prices are higher, if you can come in with greater value, you have a good chance at winning new business. You also have the advantage of being the new kid on the block when it comes to pitching your products and services. Many companies are desperate to find new partnerships with new companies that have a different, better or more innovative way of delivering those products and services.
Family and friends do not want to invest more in real marketand shares it means they may be willing to finance a portion of your new venture, or the expansion of an enterprise that has proven itself over time. The main benefit is that they know you and have a relationship with you and if you have a solid business plan that delivers real numbers, your chances of raising the capital you need increase exponentially
At this time suppliers will give good amount of credit as credit market is virtually tuned down
and as the raw materials with suppliers are pilling up and it is becoming their headache so they can give the raw material on credit and it is a win win situation for you because with less investment you are owing to start business and with less investment you are setting up your organization.
The media loves aberrations, and if you are optimistic by expanding or getting into business now, you would be in that category. That means you can generate some great PR by demonstrating your "alternative" view of the market.Definately it will helpfull as it is your free advertisment without any investment in marketing .You are getting marketing naturally as you are going against the tide everyone will cover your move.
At this time of recession when you develop Balance Score card of your enterprise it will show wonders as the investment is less and returns are good .If you think from the managerial economic prospective you are taking decision at right time when the prices of everything is low and expecting a great return and will be helpful in future.
This is simply being aware of good opportunities others have buggered up, and finding deals where you could get an entire business simply by taking over a lease (along with all the equipment). Many business owners want out at any cost, meaning you can negotiate great win-win deals that allow the current owners an escape while giving you an opportunity to turn around what could be, if run right, a very viable business.
Sometimes, the best business decision is the one you are forced into, and the incentive (as well as need) for income is often enough to push those previously "on the fence" to strike out on their own. There's nothing wrong with being in this position; it simply means there is greater urgency to do something that will start to generate income as quickly as possible.
So investing in starting your own business at this time will be great rather than relying on other organization and if you want to take less risk.
You must follow the Risk management.
Go for Franchise as it is safe business in starting.
Invest in Educational Institutions.
So Best Of Luck for new Business
Friday, March 13, 2009
Will be a right time to invest in Franchise
Till 2008 maximum foreign investment was coming from franchise that people of world used to take and outsourcing. It provided opportunity for the foreign investors and companies to invest and rule in the market but because of recession maximum number of companies have stopped their trade with other countries and foreign investors are withdrawing their money from there places where they had invested to make profit.
Now the question arises in front of us that still investment in franchise will be profitable or loss deal.
I am putting some of my views here
Lifecycle of an franchise
Franchise is an exiting opportunity for the people who wants to start small business or who want to come in Business world as it is workable business its plans and strategy have been working somewhere and it is well settled so the risk factor is also quite less which is the right strategy and thinking at this time of recession.
Information and Research
At this time business investor has carefully deliberated on pros and cons of being franchisee as it is good decision to rely on the defined system rather than new one .As new system and strategy must have something creative or different way has to be there to survive in he market of this time.
Expansion
As if the person gets a taste of success in the franchisee business the profit the person made from first franchisee they can invest that profit for multi unit franchisee and can expand their system without much investment and following the real system of business to invest your profit for expansion but if the franchise fails than still franchisee will not be in big loss as compared if person starts a new business and it crashes than whole investment will be lost
Emerging Franchisor
They are having new franchising concepts which have proven ,viable business model wilth well defined structure of the transferability of idea to the enterpreneur working with these emerging franchisor. It will be benefical as they are having new concept and we can make good margin in profit only if their strategy works and it is quite risky from investor point of view
Emerged Franchisor
They offer a produst or service that is perfectly tested and tried ,refined and sold over a period of time and these established franchisor represents the least risk type of franchisee opppurtunity but on the dowturn everyone know their startegy and the opputunity for franchisee may be less as market is saturated
Whatever type of franchise person invest on he/she must gather the full information about the franchise to be taken but it is a right time to invest because in other markets investment is going down regularly and it is a much informed decision ,avoiding costly mistakes ,folllowing best practise and right at this time of recession
Best of Luck Investors
Now the question arises in front of us that still investment in franchise will be profitable or loss deal.
I am putting some of my views here
Lifecycle of an franchise
Franchise is an exiting opportunity for the people who wants to start small business or who want to come in Business world as it is workable business its plans and strategy have been working somewhere and it is well settled so the risk factor is also quite less which is the right strategy and thinking at this time of recession.
Information and Research
At this time business investor has carefully deliberated on pros and cons of being franchisee as it is good decision to rely on the defined system rather than new one .As new system and strategy must have something creative or different way has to be there to survive in he market of this time.
Expansion
As if the person gets a taste of success in the franchisee business the profit the person made from first franchisee they can invest that profit for multi unit franchisee and can expand their system without much investment and following the real system of business to invest your profit for expansion but if the franchise fails than still franchisee will not be in big loss as compared if person starts a new business and it crashes than whole investment will be lost
Emerging Franchisor
They are having new franchising concepts which have proven ,viable business model wilth well defined structure of the transferability of idea to the enterpreneur working with these emerging franchisor. It will be benefical as they are having new concept and we can make good margin in profit only if their strategy works and it is quite risky from investor point of view
Emerged Franchisor
They offer a produst or service that is perfectly tested and tried ,refined and sold over a period of time and these established franchisor represents the least risk type of franchisee opppurtunity but on the dowturn everyone know their startegy and the opputunity for franchisee may be less as market is saturated
Whatever type of franchise person invest on he/she must gather the full information about the franchise to be taken but it is a right time to invest because in other markets investment is going down regularly and it is a much informed decision ,avoiding costly mistakes ,folllowing best practise and right at this time of recession
Best of Luck Investors
Thursday, March 12, 2009
Nano - Will it serve as a straw for drowning auto Industry
Today when every country is scared of their economy will they able to survive in this global recession .When every industry is facing downturn count from real state to IT industry to manufacturing industries in every part of the world there is lot of chaos How they can survive?
At this time of global recession when Auto industry is worstly hitted every automaker is in loss from General Motors to Kinetic than at this will launching of NANO in Indian Market by Mr Ratan Tata chairman of TATA MOTORS will provide some relief to the auto industry.
But we can see when maximum auto makers is in loss only one auto maker is in profit MARUTI they are making wonders, they are making profit even they are increasing their production as well as their manpower because their small segment cars are selling at the same speed as before even an increse of 4 % is seen in their sales as they are selling their products at the same price and even increase their availability.
With succes of MARUTi everyone is expecting that NANO will survive in the Market because of some reasons it is better than Maruti 800
-> NANO is Cheaper than Maruti 800 .
-> NANO looks better and having great design than Maruti 800.
-> NANO is 8 percent smaller — bumper to bumper than Maruti 800.
-> NANO has 21 percent larger seating capacity than Maruti 800.
-> NANO is more fuel efficent than Maruti 800.
With these specialties everyone is expecting that NANO will leave its competitiors behind such as MARUTI 800 ,SPARK ,i10,Zen Astilo.It will blast in small segment cars.
For a realistic comparison we should look atChina , there is a model from Cherry for 5200 $ which has dual air bags and features available in mid segment cars in India
When at this time of recession everyone wants a gthing in which they have to invest less and they will get good return from it and NANO is the car in the auto industry that can bring relieve people who wants to invest in the market for their personal transpotation as it is providing the thing they want with great returns
NANO as it nicknamed "People's Car" will definately fullfill the RATAN TATA dream to migrate the Middle class person from 2 wheller to 4 wheeler and definately he will achieve what he expected and we should give fullmarks and regards to TATA family for bringing such a car at this time.
Next month NANO will be on the road and we indians expects it should make wonders and help our auto industry to come out of this global recession and launching and success of NANO will provide opportunities to other auto makers to launch their cheapest and best auto product in the market to survive.
Best of Luck to TATA and NANO
At this time of global recession when Auto industry is worstly hitted every automaker is in loss from General Motors to Kinetic than at this will launching of NANO in Indian Market by Mr Ratan Tata chairman of TATA MOTORS will provide some relief to the auto industry.
But we can see when maximum auto makers is in loss only one auto maker is in profit MARUTI they are making wonders, they are making profit even they are increasing their production as well as their manpower because their small segment cars are selling at the same speed as before even an increse of 4 % is seen in their sales as they are selling their products at the same price and even increase their availability.
With succes of MARUTi everyone is expecting that NANO will survive in the Market because of some reasons it is better than Maruti 800
-> NANO is Cheaper than Maruti 800 .
-> NANO looks better and having great design than Maruti 800.
-> NANO is 8 percent smaller — bumper to bumper than Maruti 800.
-> NANO has 21 percent larger seating capacity than Maruti 800.
-> NANO is more fuel efficent than Maruti 800.
With these specialties everyone is expecting that NANO will leave its competitiors behind such as MARUTI 800 ,SPARK ,i10,Zen Astilo.It will blast in small segment cars.
For a realistic comparison we should look at
When at this time of recession everyone wants a gthing in which they have to invest less and they will get good return from it and NANO is the car in the auto industry that can bring relieve people who wants to invest in the market for their personal transpotation as it is providing the thing they want with great returns
NANO as it nicknamed "People's Car" will definately fullfill the RATAN TATA dream to migrate the Middle class person from 2 wheller to 4 wheeler and definately he will achieve what he expected and we should give fullmarks and regards to TATA family for bringing such a car at this time.
Next month NANO will be on the road and we indians expects it should make wonders and help our auto industry to come out of this global recession and launching and success of NANO will provide opportunities to other auto makers to launch their cheapest and best auto product in the market to survive.
Best of Luck to TATA and NANO
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