Effective decision mean maximum efficiency with lowest expenses

The company who are still now not conscious about to cost reducing process , in near future you have to be a suffer .I am little bit confused about that, how many of the company in BD are worried about the upcoming flow of business . Most of our company follow the a common method to reduce their expenses, the method is to close their employee by forced. Now days this a common fact of most of our companies . If you are looking for job security than just forget about this because nobody can ensure that . I found that only few percentage of people are loyal to his/her company & obviously they are the top management . Most of the time HR department are being fail to identify about the reason behind the job switching of employees.

I found some basic reason that why employee switch to other companies

Daily expenses are increasing but its only your salary which is not  increasing daily .House rent ,fuel ,bus fare, consumer goods even more agro foods, each & everything is going high in price. But on other hand your salary remain the same at least up to one year . Now, with a minimum living standard how long you will be able to manage your needs where your income is insufficient . At 2008 the car Toyota Allion was about 12-15 lac & now  in 2012 its about 30 lac . Bellow 10,000 BDT of monthly rent , it quite difficult that you will found a flat for your family .  

Now what people do …… they just join in at any organization and stay with searching for better opportunities , that causes a low productivity to company .

Suppose you are a fresh graduate /post graduate & looking for a job . If your not an extraordinary person than don’t think a company will offer you a job with 20,000 taka starting salary.

Balance the company expenses 

Just avoid those activity which are less efficient for you & find out the best strategy with proper guidance. Your strategy should set as , suppose you will spend $ 100 to promote a product . Before going that set up your calculation that, what will be the outcome against the $100. If there is no option to get an instant outcome just avoid it because it’s an ineffective activity that only can increase your expenses 

Strongly maintain R&D and HR department that may helpful to you about decision making .

Good luck

Start Your Business Today

Brand image is suppose to be an ID card that give you access to enter into consumer’s mind & consumer is your marketer who will market your products/service before others .Consumers will work for you & obviously on free of charges ,don’t think that I am making fun .It was my one of study that I have already applied  on different target segment & I found really it works. 

Suppose your  want to be an importer who will import cell phones from China to sell/supply them at domestic market. Obviously you have to do some study before going to import products . If it was earlier day than a little bit study wasn’t important but as it’s 2012 so you must have to go for it .Find out some simple task that will help you to identify your success. This process is well enough to measure your efficiency .Identify about

-        What will be your business name

-        Latest business trends & demands

-        What is your competitive advantage

-        Who are your competitor & what about their current condition

-        What is your strategy to compete with competitors

Brand Name Selection

One of the major task before start your own business is to find out a suitable name. It’s important because its first expression of you to others & it’s your identity that will help you create a brand image. Brand name should be unique, meaningful & short that people can adopt it quickly. Now suppose you have selected  “3G” as your brand name which is quite suitable as cell phone brand . Brand name should be interrelated with product category it’s mean ,the name “3G” is interrelated with mobile technology that’s why its suitable as mobile brand but if you are a food importer & select your brand name as “3G” than it shouldn’t be sounds good.

Latest business trends & demands

Your first task successfully done now second one, before going on import you have to learn about which types of cell phone have a well demand in market . You will definitely found a huge demand for android  tab/phone in market .So obviously you have to import products based on market demand not on your personal opinion. You have to choose best alternative from options. Don’t forget one thing, that business trends & market demands are changing day by day so if you are new importer don’t go for a huge investment . Today android tab has good market demand but tomorrow it may be not .

Find out your competitive advantage

Set up an objective that why people will buy your products when lots of brands are already available in market . Don’t be confused , it’s easy to identify . Focus on customer’s demand, satisfaction level & product purchase ability .Try to reach toward customer expectation . Once when you successfully done this than your customer will work as your marketer . You found that , people who will be satisfy with having your products they will automatically refer other people to buy one from you .

Find out about competitor & their current condition

Third major task is finding out about competitor & their current condition. Suppose Samsung is the current market leader of mobile industry which has a huge market share . Its natural that as a fresher you can’t compete with Samsung. But don’t care about that because Samsung spend a huge money to maintain it’s activity on other hand your are almost free from them . Try to bring up quality products that would be close to Samsung but at lower costing . At least 5% of customer will switch Samsung & they will willingly buy your products . If they are satisfy with having your product than they will refer another 5% of Samsung user to buy your products . This is a running process & huge opportunity for you.    

What is your strategy to compete with competitors?

When your competitor is monitoring you just change your strategy . When competitor will notice that they are losing customers, than obviously they will try to take steps against you .This process may take times as few months or years but with in this time you found lots of customer & may be some of them can be loyal to your brand .Its depend on your service. Now you just leave Samsung & focus on another competitor because ,I am sure that within that time, Samsung will lose its market positing and another company will take that .Just apply same tactics each time until the business environment remain unchanged.      

So its time to keep moving ……     

Corporate Job VS. Outsourcing

Once it was a dream to got a corporate job. Fewer are still believe that corporate job is the most standard position for an individual specially when you are a BBA graduate.

Business trends are changing so quickly that its difficult to follow up a company activity . You may hardly found which company will be topper or looser . Anything can be happening it’s just a matter of time .The company who got the top market shares can fall down or the company who just entered in market can make a unexpected profit . All those depend on strategic planning . The traditional flow of business  gone . If you are a company that hold tradition of 100 years and you are not interested to enter into current market trends because of you have an own brand image than be sure that you will be falling down . It’s the demand of time and if you are a pure business personnel and want to run your business for long term than you have to follow demand of time .  

Standard working schedule that follow in BD is 9.00am –  5.00 pm , six days a week . That mean you have only one holiday for yourself/family .  But its difficult to spend a holiday with family because all necessary task like family shopping or other activity must should be done with in the day that mean a holiday mean a busy working day for your family .You can hardly go for an outing with family members or friends.

Now , You’re a fresh graduate and looking for a job than you have to know what situation will be waiting for you. If you don’t have a strong reference nobody will give you an opportunity for job and if its about salary don’t expect more than $ 188/month (15,000 BDT). I have seen some fresh graduate who are doing well in corporate sector and they getting a good salary .This situation can be seems when

-        Your university got well brand image

-        You got a higher CGPA &  well educational background 

-        Strong reference

When it’s about outsourcing, you are free to move on .Already we are the 3^rd largest workforce on oDesk (largest outsourcing site) when our people are just entering into outsourcing and most of them are learning about how to do different types of work ,online bidding, etc .I believe soon people will switch to outsourcing so, corporate sector has to change it’s strategy as soon as possible .      

How to go for a research without professional help ???

As we know, challenges for new business are going complicated. Effects of globalization & technological environment are changing so rapidly that, its quiet impossible to set up a new business, without having a proper plan. Suppose that you want to open a computer selling store .If you have a clear vision about your business than must have to find out some information. Let’s check out.

1. Who are your competitors & how they manage their activity?
2. What are the competitive advantages that you have or why you think people will buy your products as you are new comer at this field ?
3.  Have you enough financial ability to recover any negative situation that may be arising during your business launching period?
4. Do you have enough confidence over your strategy & business plan?  

You can go for a SWOT analysis on both of you & competitor’s business .When you will compare two results, you may found some objects that you didn’t think before. That’s can be a simple research , that you can run by yourself without professional help . Becareful about information that you need to put down for SWOT analysis. Don’t put any information until you are not 100% confirm of that, it may causes of error.     

Importance Of Business Research

Suppose that you are a software engineer & you are able to develop software that may be so effective for daily life & this software ll help people to save their time , which they are wasting by using traditional system. You found that there are opportunities to make huge profit by selling this software. Now think over that, there are two important factors that may influence your activity

1.    The software development

2.    To find out your target customer

Now question arises about target customer. Target customer is an individual/group of  individual who will use your software .So as a software engineer your primary job is to develop a software but if you want to do a business with your product/service than must have to find out a way which ll help you to find out some people who may be your buyer. If your service level match with your buyers expectation, that be a good deal & that is good enough to earn a profit .

So, for any kind of business you must have to go for a research to implement or maximum use of resources .A balanced uses of resource can bring maximum profit for you. You need a plan & strategy to doing a business ,you need a complete research paper which will contain data & other relevant   information up to next 5 year .Don’t forget there is term that call “Maturity Stage” for business. “Maturity Stage” is the level where you found that your business no more profitable like before. At this level you must have to switch your business to another one that’s call diversification .Basically “Maturity Stage” seems after a certain period .This may be happen after 5 month or 5 year. That depends on technological changes & effect of globalization. If you have a research plan than it ll inform you when you have to go for diversification .

So if are about to starting a new business than you must go for a research. A research is a complete guidance that ll provide information to run your business more effectively .