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gurbakshchahal · 2 years

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Here’s how Philanthropy can help a business and at the same time poor people

Philanthropy is doing benevolence to other people. That includes volunteering, monetary gifts, and other humanitarian acts. Any organization or individual can be philanthropic, though you will often see the term applied to corporations or wealthy people who devote a lot of energy and money to charitable causes. Following are the reasons that explain why corporate philanthropy matters:

Philanthropy is significant because it has a snowball effect. When an organization or individual contributes to a cause, others around them take notice. Philanthropists often wield significant influence in their communities. When they use that influence for good, it has a considerable impact. Everyone is looking for meaning. When they see it can be found in philanthropy, they will try it for themselves.

Philanthropy fuels a person or organization’s involvement in their community. Whether it is giving time or money, philanthropy brings people together to support a cause that is larger than themselves. In a society where giving freely is common, there is a much stronger unity and sense of belonging.

Society is built from networks. Whether personal or work-oriented, networks are very significant for success and happiness. Philanthropy allows you connect with compatible individuals or organizations and expand your network. This is a mutually-beneficial system where people depend on each other and grow together.

Gurbaksh Chahal says that philanthropy’s benefits extend beyond enhanced mental health. Stress manifests itself physically as high blood pressure, headaches, and even a weakened immune system. With less pressure, your physical health can turn a corner. Research shows that charitable givers have lower blood pressure. Studies show a link between selflessness and a longer life span.

Philanthropy is about looking outside and helping others. For most people, this fosters a powerful sense of personal fulfillment. People who feel like they have a purpose and are making a positive impact on the world tend to have better emotional health. Research shows that generosity can decrease stress and symptoms of depression. When volunteering with others, philanthropy can also decrease a person’s loneliness.

Philanthropy is significant to society as governments can’t address the needs of all causes. Frequently, certain government budgets get slashed owing to politics or a need to shift the money elsewhere. This can leave gaps in areas where support is required. Philanthropic individuals and businesses help fill in the gaps by supporting causes and organizations that do not use government funding. Without philanthropy, many needs in society would go unmet.

Customers are not the only ones interested in philanthropic organizations. Job hunters today are also interested in companies that are dedicated to goodwill. Frequently, it can be the deciding factor when an able employee is deciding between jobs. Organizations that want to entice the coming generations should prioritize philanthropy. That will make the business world a better place.

Gurbaksh Chahal says that a philanthropic mindset involves more than just giving money at any cause or organization asking for it. People who are truly engaged with philanthropy are dedicated to learning more about the world and experiencing new things. Through volunteering and research, causes become more real and personal. This broadens a person’s viewpoint, sharpens their understanding, and fuels their passion.

#gurbaksh chahal #gurbaksh singh chahal

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glex24 · 2 years

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Start Growing Your Income

#glex#glex24#mauritius#business#entrepreneur#marketing#onlinebusiness#forex#forextrader#forextrading#forexsignals#forexlifestyle#forexmarket#forexsignal#forextrade#tradeforex#forexprofit#forexmoney#forexsignalservice#tradingforex#forexmentor#forexgroup#forextraining#forextraders#forexanalysis#forexstrategy#forexcourse

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mediaheights · 2 years

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Business growth is a phenomenon that occurs when business owners, employees and outside factors influence the success of a company. A business grows when it expands a customer base, increases revenue or produces more product. Build your brand with digital media & take the benefits of social media branding contact Media Heights. By Mediaheightspr.com

#MEDIAHEIGHTS digitalmarketingcompany searchengineoptimization MEDIAHEIGHTSPRCOM best public relation agency in chandigarh mohali punjab nort

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kuramirocket · 3 years

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Last summer, the Jimenez siblings, JJ and Rudy, thought it would be really sweet if they could make some extra cash by selling their homemade Mexican-American candies to friends and family, and maybe a few followers on social media.

A year later, what started as a side-hustle is a full-time business with six-figure annual revenue, called Enchilositos Treats, which now ships spicy and sour-sweet candy concoctions all across the country.

JJ, 26, and Rudy Jimenez, 19, started making the treats, called chilitos, or dulces enchilados — sour-sweet candies like Skittles, Sour Patch Kids, or Gushers coated with traditional Mexican spices like chili powder and chamoy

"We kind of looked at each other and had that first little bite," Rudy says. "[And, JJ said,] 'we can do something with this.... Let's start trying to sell it to our friends and family and just locals if we possibly can."

Within its first 12 months, Enchilositos Treats brought in over $105,000 in revenue from online sales.

"It started off as a side hustle...our goal was not to make a lot of money or even get big. It just did it on its own," JJ says. "Once you try them, you just fall in love."

How they got started

Initially, Rudy wanted to make the candy to try them - she was reminded of her and her brother's childhood growing up in Southern California with their Mexican immigrant parents, who put Mexican spices on a lot of food, including fruit.

"The way we grew up, our parents always kind of told us to make [things] ourselves, if we were able to," she says.

And at first, JJ wasn't sure about his sister's idea to sell candy. "I thought it would just not work out," because he worried spicy Mexican candy couldn't compare to the sweetness or sour flavors of American candy.

But after making their first batch of candies coated in chamoy (a spicy-sweet paste made from pickled fruit and chiles), chili powder and other spices, "it was delicious," he says.

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They made an Instagram page to advertise their treats in June 2020, and a day later, they say the account had over 100 followers and people were messaging them to order bags of candy. (Now, that same account has nearly 16,000 followers.)

While Rudy was wrapping up her high school degree, JJ had already dabbled in a variety of jobs, including working for various restaurants and at a manufacturing company, as well as delivering food for GrubHub. He also had a side-hustle reselling items on eBay, from toys to DVDs to purses his mother bought at yard sales.

That experience gave him the confidence to try starting his own venture with Rudy.

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JJ had saved a little bit over $10,000 from his various jobs, and he invested that into their new business venture, including building a website to make it easier to handle online orders, as well as branded packaging and shipping materials to send their treats to more customers outside of their local market.

That same summer, Rudy began reaching out to social media influencers. The biggest by far who responded was Yasmin "BeautyyBird" Maya, a Mexican-American beauty vlogger who also happens to be from Carpinteria. After Maya promoted the Jimenez siblings' candies to her 1.1 million Instagram followers, JJ and Rudy saw an influx of orders on social media.

Within a few months of launching, JJ says he and Rudy would usually average 30 candy orders per day (60 on a really good day), which they would make fresh each day and deliver themselves.

"As we kept progressing through the months and getting more and more orders, we were like, 'That's crazy,'" Rudy says now.

As the orders mounted, and JJ and Rudy spent much of their days making and delivering candy, JJ quit his job at a manufacturing company — roughly three months into the business and in the middle of the pandemic — to focus on Enchilositos Treats full-time.

Rudy, who is attending cosmetology school but plans to focus solely on Enchilositos Treats once she graduates, admits she was "a little bit scared" when her brother told her he'd quit his job, because it put more pressure on their business to succeed.

"It was a big moment where I was like, 'OK... if you already did it, let's just go for it, then. And we have to put all our effort into this little business that we just started,'" Rudy says.

Sweet success

A year later, JJ's gamble has paid off, with Enchilositos Treats growing into a business with six-figure sales, even with just the brother and sister (who are both co-owners) as the only two employees.

In December, the siblings moved with their parents to Brenham, Texas to house with a "pretty big kitchen" as well as more than enough storage space for ingredients and shipping materials, Rudy says. (The move had already been in the works pre-candy business.) They've also cut out local deliveries in order to focus all of their time on shipping online orders.

"Now we're able to sustain ourselves with it and pay off our bills and things like that," JJ say. "And we're hoping to continue to grow bigger and bigger."

Prices start at $4 for a 4-ounce bag of candy. JJ and Rudy say they keep roughly half of that amount after factoring in the cost of goods.

JJ and Rudy also sell some of their spice mixes and pastes separately.

As online orders from customers have rolled in from all over the U.S. (and, they've even had order requests from Canada and Mexico), JJ and Rudy quickly realized how many people want to try the candy, whether it reminds them of the flavors of their childhoods or if they're just intrigued by an interesting new flavor combination.

Their business has been popular enough that JJ and Rudy are even hoping to open a physical location. "It's time for us to be able to do that, so we're ready to be able to open up a location very soon here in Texas," Rudy says.

#🇲🇽#mexico #usa #united states #canada #food #candy #support

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ektaraval · 4 years

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leading and managing organisational resources

Overview

The use of a wiki page is essential in developing a portfolio for academic learning and understanding, thus, discussions regarding the same have been covered (youtu.be, 2020). In an attempt to understand "business ethics" and its working philosophy, the goals and fundamentals of the company are very important. Ethics were primarily understood as the simple distinction between “right and wrong”. However, in corporate context, an individual’s code of conduct and actions are guided by their personal mores and surrounding environment. Earlier notions of business were understood as “making profit” only (thehrdirector.com, 2020). This broadly fell into the concept of Friedman doctrine. However, these views were challenged, as society requires businesses to provide goods and services as well as businesses seek to make profit for themselves as well. The domain of "business ethics" also covers its utility for the society by being responsible for its benefit and welfare. This is broadly understood as Corporate Social Responsibility, where an “ethical business” is required to be a responsible societal citizen as well. Here, the triple bottom line focus lies on “people, planet and profit” (thehrdirector.com, 2020).

The role of stakeholders is quite vital for the businesses to maintain their operations and activities in an ethical way. It is a common expectation among businesses and stakeholders alike that violations of ethical grounds and laws are counterproductive for it. "Business ethics" is observed between the organisation and its suppliers, employees, customer base, partners and the shareholders (gartner.com, 2020). It is also associated with governance in organisations and business decision-making. Ethics in business are understood via normative and descriptive means; the latter being used for scientific research and academic depth. Schwartz (2017) stated that descriptive means helps to understand the discrepancy between what ought to happen and what actually happens. Influence of "business ethics" underlies that maintaining appropriate policies is crucial at macro, corporate and individual levels for aiming desired performance.

Functional areas

A business is associated with a number of areas that help in operating itself and managing its activities. These make up the factors that operate within the organisation as well as outside of it. Thus, the functional areas in a business sector encompass “human resource management (HRM)”, finance, marketing, sales, and relationships with other organisations.

In the finance sector, “material wealth” is a prime measure of wins and gains. The neoliberal thought for this growing finance benefits and maintaining ethics refer to growth in the economy by means of providing an increasing number of “services and goods” to people. Similarly, the sector of HRM holds personnel recruitment, their performance management/monitoring, appraisals, workplace safety and the like. The HRM team manages the employees and the unethical or illegal actions within the organisation or those done by the employees/employers themselves (Schwartz, 2017). “Business ethics” focuses on right and wrong within the organisation and this is where the unethically and illegality could be included. An unethical business action is morally incorrect; however, an illegal action is breaking the organisational or the legal regulations. The law binding entities of a nation or the organisation itself focus on the aspects that make an action illegal as well as the moral or ethical connotations of acceptable behaviours. The "business ethics" involved in HRM also comprise of the organisation’s whistle-blowers and the holders of “intellectual property rights”. These are considered as ethical obligations of “organisation’s employees for their employers”. In the context of international companies, trade obligations, international laws, immigration or globalisation operate too. This addresses the "business ethics" in a much more complex way, as it has the liability to be watchful towards the operations in its international zones. Companies use the theories X and Y for their management strategy that helps them to maintain the ethical focus and gain success as well.

Sales and marketing are other important functional areas of a “business ethics” that informs the marketers about values and principles for their actions. Here, the ethical connotations of consequence, deontology and virtue ethics are at play. The marketing mix principles is also a guide that helps businesses to make ethical decisions about a product’s price, marketing and consumer focus (mckinsey.com, 2020). An organisation could be understood as using marketing and sales ethics if they focus on price skimming, for example. In the “business ethics” context, its relationship with other organisations reflects the relationship of suppliers and buyers. Collaboration with other organisations, joint ventures and forming alliances are examples of inter-organisational relationships as well (mckinsey.com, 2020). In this case, there is a risk of unethical partnership as well. The theoretical basis of agency theory and the transactional cost theory are well suited for organisations to have effective relationships and note their opportunistic tendencies. Schwartz (2017) ascertained that the researches on these kinds of behaviours have put forward intentional deceit, shirking and financial double standards as primary risks to look out for by collaborating organisations. This is important to mention that such organisational chaos can become a big issue for the stakeholders. Thus, legal and judicial implications might follow too. Thus, organisations could employ informal or formal means to target these risks and alleviate their grave after-effects. For example, the use of binding contracts and establishing relational or business norms between groups in business collaborations could prove to be extremely useful in managing and maintaining business ethics.

Impact on Decision Making

Ethics are those guiding frameworks that direct the everyday decision-making of businesses. Organisations need to persevere in tough times and be flexible as well as strong in aligning themselves according to the applicable external changes. Here, the Trevino’s Ethical Decision Model would be productive to understand the nuances of decision-making in relation to business ethics (beds.hosted.panopto.com, 2020). The model highlights certain factors namely, the situational moderators, organisational culture, individual moderators and the cognition. These factors are noted when guiding oneself through the ethical dilemmas. Thus, these lead to a decision being made and its subsequent ethical or unethical nature. The ego strength, work characteristics, stage of moral development and job context operate together and determine the final decision and output.

Decision making during Covid 19

In the face of COVID-19 pandemic, it is essential that relations between the government and the organisations are beneficial and extends their support for the larger good of the business and society as well. In the light of decision-making, some social contexts are important too. “Emotion, community and ethics” make up the prime social elements that need to be incorporated in business decision-making so that the outcomes are ethical (gartner.com, 2020). Businesses also make decisions that could be different according to different situations. Thus, the COVID-19 crisis implores businesses to highlight crisis factors like “safety, continuity and resilience” in their decision-making process. Thus, the “core competencies” of businesses are put to maximum use for the generation of consistent value and revenue. Schwartz (2017) had highlighted the fact that executives in a business would need to change their long-standing methods and means for adapting to their external situations. This would aid them in innovation, manage cyber risks, and open up options for cash flow and profit (mckinsey.com, 2020). Another factor “traditional business value”, calls for the reduction is risks, consideration of costs and revenue generation. Revenue generation is important to keep the organisation viable and be a valuable part of fulfilling societal responsibilities. The organisational mission becomes important if its existence becomes doubtful. It could switch to making similar products in the field and use its primary raw materials. For example, a perfume making company could invest in making sanitizers as well because of the common primary ingredient: alcohol (mckinsey.com, 2020). The combination of these traditional value-based aspects and the non-traditional aspects like social and crisis elements are important for decision-making too.

There are certain questions posed in the front of the board directors and executives of companies. These sheds light on the issue of globalisation and unavailability of materials, focus on marginalising the skills, restrains to change or modify business models adequately and “resilience in supply chains” (thehrdirector.com, 2020). These greater concerns highlight the influence of tougher situations on business and its ethics. This affects employees, the organisational flow of information and the suitable relationships too. In aligning the organisation to modern needs, the realistic factors, of which the organisation is capable, needs to be put forward too. This would create a sense of hope for future growth by being rational and adaptive.

Thus, influence of decision-making on business ethics and the related content have been discussed here with a focus on its functional areas, an overview; further reading suggestions are given too.

Notes

1. Schwartz, M.S., 2017. Business ethics: An ethical decision-making approach. United States: John Wiley & Sons.

2. beds.hosted.panopto.com (2020), Leading and managing organizational resources, Available at: https://beds.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=f9176e36-d906-4648-9296-80d1aefc20d6&start=undefined[Accessed on: 04/10/2020]

3. Gartner.com (2020), A Framework for Executive Decision Making During COVID-19, Available at: https://www.gartner.com/smarterwithgartner/a-framework-for-executive-decision-making-during-covid-19/ [Accessed on: 04/10/2020]

4. Mckinsey.com (2020), Coronavirus: 15 emerging themes for boards and executive teams, Available at: https://www.mckinsey.com/business-functions/risk/our-insights/coronavirus-15-emerging-themes-for-boards-and-executive-teams [Accessed on: 04/10/2020]

thehrdirector.com (2020), The new role for hr followingthecovid-19pandemic, Available at: https://www.thehrdirector.com/features/cultural-change/the-new-role-for-hr-following-the-covid-19-pandemic/ [Accessed on: 04/10/2020]

5. Youtu.be (2020), An example of an excellent ePortfolio, Available at: https://youtu.be/3_FmRH6Lj5c [Accessed on: 04/10/2020]

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skoubegum7-blog · 5 years

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Signs IE

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emmamiler · 3 years

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What Is Leadership Development, and Why Does It Matter?

What are the advantages and disadvantages of a leadership development program? It gives firms a tremendous chance to get a competitive advantage in their respective industries.

If your firm commits to growing its leaders, you can expect to gain a significant competitive advantage in terms of improving the bottom line, attracting, developing, and retaining talent, driving strategy execution, and raising your success when managing change.

Long-Term Success Requires Leadership Development

So, what role do leadership programs play in India? According to the research, leadership development programs help firms do the following four factors that lead to long-term success:

- Improve bottom-line financial performance.

- Attract and retain top talent.

- Be in charge of your strategy's execution.

- Increase your odds of successfully navigating change.

Improve the bottom line's financial performance

Stock market returns for companies that place a high value on human capital are five times higher than for companies that place a low value on human capital. Leadership development improves an organization's ability to minimize costs, produce new revenue streams, and boost customer satisfaction.

Top talent should be recruited, trained, and retained.

Employee engagement is improved, the organization's ability to deal with talent pipeline gaps is improved, and the difficulties and costs of turnover are reduced. Great leaders are able to attract, hire, and motivate top talent. Recruiting and maintaining high-performing employees will be challenging for a boss who has excellent leadership skills.

Furthermore, training, teaching, and promoting people from within is often less expensive in the long term than employing someone from outside, making leadership development a wise investment.

The Strategy's Execution

It's not about development for the sake of development when it comes to effective leadership development. A leadership plan that is strongly linked to the company plan and equips personnel with the essential leadership competencies to carry it out is required. Leadership development can have an impact on an organization's culture and strategy.

Leadership development has a significant impact on the culture and strategy of a firm. It is significantly less expensive to develop, coach, and promote individuals within than to hire someone externally.

Boost Your Chances of Success When It Comes to Change-Navigation

Leadership development improves people's abilities to lead in a disruptive world. When companies go beyond top executives and high potentials to tap into the full potential of their talent pools, they become more agile.

Long-Term Effects of Leadership Development

So, what role does leadership development play? Because it has irrefutable influence when done right. Virtual leadership seminars or leadership management international programs can help firms cut down on downtime and develop individual leadership skills while also improving employee engagement, retention, and growth. Many businesses that have not taken advantage of this fantastic opportunity have experienced considerable costs as a result of losing brilliant personnel, including morale, advertising, recruitment, and relocation fees, as well as time spent training new employees.

Researchers have also discovered that firms that prioritize leadership development, such as PrisMind, are better at training their leaders and placing the right people in the right places, resulting in increased innovation and improved financial performance. So, if you're looking for an online leadership development program, look them up.

#leadership management international #leadership development program

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taxtotal · 3 years

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What is a SWOT Analysis and how to make it?

A swot analysis is a system used to define your strengths, weakness, opportunities, and threats. It can be done on an individual project or a company. Strengths and weaknesses are internal to the company, things that you have some control over and can change. Whereas, opportunities and threats are external things that are going outside your company where you have little influence.

To create an accurate analysis, the company’s founding team and leaders need to play an important role. When you’re starting or running a business on your own. Creating a SWOT analysis will provide you many insights into your business prospects. An efficient report helps you to stay unique compared to your competitors and stay ahead of the race.

Why must you do a SWOT Analysis?

As discussed by many industry leaders, execution is the key to success. Having a great idea is a stepping stone and is the beginning of your journey but executing and proving yourself is the real challenge. Gary Vaynerchuck, the best-selling author and the CEO of VaynerMedia, a leading digital advertisement company once, said: “Execution is the game.” To have operational efficiency and achieve the best results, you must understand your business in and out. Let us discuss a few reasons why you must do a SWOT analysis.

A SWOT analysis ensures the efficient utilization of the resources.

It allows you to understand the needs and requirements of the business and allocate the resources accordingly. The resources can be labor or capital.

Helps you to assess and improve operations.

Learning from past experiences and converting past struggles into opportunities is the path for success. Moreover, understanding your past performances assist you in planning for the future and optimize your operations. Therefore, it’s very important to learn from previous hiccups and convert the experience into something beneficial.

A SWOT analysis helps in discovering new opportunities and creating strategies.

It allows you to plan ahead and establish the vision of your company. There will always be new technology or business like Uber or Instagram. Even if you don’t have that, a look into your organization’s future will let you draw your future predictions and help you set your action plan.

Helps in forecasting risk.

A homerun for any business is a dream, and in most cases, it stays as a dream. Undoubtedly a few roadblocks and barriers will arise. You must try to forecast the future risks that might arise from the availability of raw materials to government policies. Planning ahead keeps you with backup strategies, just in case an unexpected situation arises.

How to do a SWOT analysis?

For the best results, it’s best to involve a group of individuals involved in your business from the different departments. Hold a brainstorming section for all the major heads and collect the opinion of the people involved. If you are a small firm with limited employees or departments or a new business, then discuss with your friends and potential customers. Let’s now discuss the SWOT analysis components in detail.

Strengths

Strengths are the things which you are really good at or expect to perform well and keeps you apart from the competitors. Undeniably, they are the key factors that would lead to the success of your business. Ask yourself all the questions that make you better than the rest. What assets you have in your team must be considered unique compared to an existing company. Identify your Unique Selling Proposition (USPs) and add this to the strengths. You must also think from your competitor’s and the customer’s side to understand your strengths. Anything can only be considered as a strength if it provides you a clear advantage over your competitors. For example, if your competitors offer high-quality products. Then high-quality products are not a strength but, instead, it becomes a necessity.

Weaknesses

This is the part where you have to be honest, and you must strive to find things holding or might hold you back. Do this process with a clear mind and try to find the maximum number of weaknesses. The more you know, it provides you with an opportunity to rectify those and grow. Think about what you could improve and the sort of practices you should avoid. Just like how you found out why you are better, you must also evaluate why your competitors are better than your business.

Opportunities

They are external factors that might lead to the growth and prosperity of your business. Opportunities arise with the changes in the market you serve, technological upgrades, political reasons, or sometimes some random reasons. Therefore, you must be able to spot and forecast such opportunities and exploit them to be successful. These small factors would help your business to gain a significant advantage over your competitors in the market.

Threats

Threats include anything that can negatively affect your business from the outside. They maybe supply chain problems, logistics, a shift in consumer behaviour, shortage of recruits, and any other factors. You must anticipate the threats and prepare remedial actions to either stop or overcome the incoming problem. Think about all the factors that might lead your sales down and prevent your growth. Check whether your organization is exposed to external challenges or any internal issues that might arise within. Ensure you deal with any internal challenges that occur because any internal issue can drastically affect your business.

Few questions to be considered while preparing the SWOT analysis.Strengths

What is the unique value proposition of your business?

What internal resources do you have?

Do you have good research and development capabilities?

How flexible is your business to cope with change?

Weaknesses

What are the things where your business needs to be more challenging?

Which processes need improvement?

Is your location ideal for your business?

Opportunities

What are the present opportunities in the market?

Do you expect growth in the market or demand?

Do you expect any policy change that might benefit you?

Threats

Who are your existing or potential competitors challenging you?

What factors which you cannot control would put your business at risk?

What are the possible situations that might threaten your growth?

Do you expect any customer buying behaviour changes?

Are there market trends that could affect your business?

Understanding these factors and finding solutions is the hurdle that stands between you and your path towards success. In short, the more you know about your business, the better. It also gives you further insights you require to launch successfully.

#SWOT #Strength #Weakness #oppurtunity #threat

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trackolap · 2 years

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Do you want to grow your business? Of course, you do!

Then, what are you doing to grow your business?

Yes, people only saying that you want to grow your business will not help. You need a proper business growth strategy to scale up your operations in a systematic manner.

You need to decide which tools and policies can take your business ahead of your competitors. In short, you must plan a well-structured strategy to skyrocket your business growth.

Don’t know how to create a business growth strategy?

Then, no need to worry about it. This guide will show you how to develop a business growth plan using a customer relationship management platform.

What is Business Growth?

Business growth is when a company expands and needs more revenue streams. For example, this can occur when a company's revenue increases, more products or services are produced, or its customer base expands.

Growth is the primary goal of the vast majority of businesses. With this in mind, business decisions are frequently made based on what will contribute to the company's long-term growth and success. Several methods can help with growth, which we will discuss further below.

Types of Business Growth

Business owners have several options for their workflow expansion. Business expansion can be classified into the following categories:

1. Organic

Organic growth occurs when a company expands through its own operations, using its own internal resources. It is the opposite of seeking outside resources to help with development.

Making production more efficient so that you can produce more in a shorter time frame is an example of organic growth, which leads to increased sales. Organic growth has the advantage of relying on self-sufficiency and avoiding debt. Furthermore, the increased revenue generated by organic growth can be used to fund more strategic growth methods in the future.

2. Strategic

Strategic growth entails creating initiatives that will aid your company's long-term growth. Two examples of strategic development are — coming up with a new product or designing a market plan to reach a new audience.

Unlike organic growth, these initiatives often require significant resources and funding. As a result, businesses frequently take an organic approach first, hoping to generate enough capital to invest in future strategic growth initiatives.

3. Internal

The internal growth strategy aims to increase revenue by optimizing internal business processes. This strategy, like organic growth, relies on companies using their internal resources. However, an internal growth strategy is about using existing resources best.

Internal growth could be demonstrated by reducing wasteful spending and running a leaner operation by automating some of its functions rather than hiring more employees. However, internal growth can be more difficult because it requires businesses to consider how their processes can be improved and made more efficient rather than focusing on external factors such as entering new markets to facilitate growth.

4. Acquisitions, mergers, and partnerships

While riskier than the other types of growth, mergers, partnerships, and acquisitions can yield high rewards. There is strength in numbers, and a well-executed merger, partnership, or acquisition can help your company enter a new market, expand your customer base, or expand your products and services.

What is a Business Growth Strategy?

A growth strategy enables businesses to expand their operations. Growth can be attained through practices such as opening new locations, investing in customer acquisition, or broadening a product line. The targeted market of your company influences the growth strategies.

Strategizing is considered as your option, incorporated into your business plan. Depending on the type of company you're establishing, your growth strategy may include elements such as:

● Including new locations

● Putting money into customer acquisition

● Opportunities for franchising

● Expansions of product lines

● Selling products across multiple platforms online

Your industry and target audience will influence your decisions, but new customer acquisition will almost always play a significant role.

How Can a CRM Platform Support Your Business Growth?

Customer relationship management software can help businesses to interact with customers and store their data. It can provide analytical data to develop a robust business growth plan.

Using a CRM platform, businesses can better plan growth strategies as follows:

Find and group potential leads

A CRM system can help you easily and quickly identify and add new leads and accurately categorize them. As a result, sales can prioritize opportunities to close deals by focusing on the right leads. Likewise, marketing teams can identify information that requires more nurturing and prime them to become quality leads.

Sales and marketing can focus their attention on potential clients if they have

complete, accurate, and centralized information about them.

Retarget your existing customers

Cross-selling and upselling opportunities become clear as you gain a better understanding of your customers, giving you the opportunity to win new business from present customers.

With increased visibility, you'll be able to provide better service to your customers. According to some studies, happy customers are more likely to become repeat customers, and repeat customers spend more — up to 33% more.

Improve customer experience

Customers today expect prompt, personalized service at all hours of the day and night. A CRM platform can assist you in providing your customers with high-quality service. Your sales reps can quickly see what products customers have ordered and obtain a record of every interaction, allowing them to give customers the answers they require on time.

A CRM can enhance your customers' experiences to offer better customer service, marketing, and more.

Better design products and services

A sound CRM system will collect data from various sources within your organization. This provides unprecedented insights into how your customers feel and what they say about your company — allowing you to improve your offerings, spot problems early, and identify gaps.

Customer management solutions can help you find, win, and retain customers more quickly and efficiently.

5 Ways to Create a Business Growth Strategy Using CRM

Businesses can finally put customers first with customer relationship management software (CRM). However, technology has its limitations. Without an effective CRM strategy, businesses risk failing to provide superior customer value. Here are some pointers to help your company develop a successful CRM strategy:

1. Set your goals

Above all, your CRM should assist your company in meeting its objectives. As a result, the first step in implementing a CRM strategy is to identify those objectives.

After knowing what you want to obtain from your CRM platform, the next step is to figure out how you will get there. Break down your goals into smaller chunks, more manageable objectives, and then plan out how and when you intend to complete these steps. This map should be adaptable, allowing for changes along the way.

2. Prioritize your valuable customers

Businesses frequently want to treat all of their customers fairly. The issue is that business is not a democracy; to be successful, a company must be willing to prioritize customers based on how profitable (or likely to become profitable) they are.

Returning customers, for example, are frequently much more valuable, spending nearly twice as much as new customers. Your company may have its definition of what makes a customer value, so it is up to you to identify the characteristics you most value in a buyer so that you can segment your accounts to increase metric effectiveness.

3. Interact with your employees

Your CRM is designed to handle large amounts of data and facilitate communication among various groups, but your employees will determine whether your objectives are met. Involve your employee in all aspects of the strategic planning process.

This will help them internalize the tools and give them personal ownership over the company's direction. In addition, employees who have been invested will be better able to integrate new policies and technologies to benefit everyone.

4. Changes should be staggered

If an aspect of your business isn't functioning correctly, you may feel pressed to implement new policies and technologies as soon as possible to mitigate any damage.

The issue with this mindset is that implementing too many changes at once can harm your employees' productivity. So keep your workforce in mind, and whenever possible, phase in your new CRM policies.

5. Everything should be synced to your CRM

Many CRMs include built-in programs that mimic the functionality of other, frequently used applications. When this is the case, your systems can easily sync so that any notes or appointments made throughout the system are automatically tracked through the rest of the CRM.

However, if external applications are required, sync your CRM with whatever other programs are being used. The best CRMs will handle this automatically, importing client appointments from your calendar, updating cancellations and other changes, and sending reminders as needed. Syncing everything together will help ensure you use your CRM to its full potential.

The Best CRM Platform to Create Your Business Growth Strategy: TrackOlap

TrackOlap is the Lead management software with employee and customer tracking services. We offer a complete CRM platform with an analytical dashboard that compresses all your lead information and helps faster lead conversion.

TrackOlap CRM dashboard has the four core features:

● Lead management software to identify qualified leads and priorities them for quick conversion.

● Task management solution to complete lead nurturing tasks faster and align your team.

● Employee live tracking to ensure your team is always productive and efficient.

● The field force automation platform streamlines field and in-office sales reps.

So, do you want the best CRM platform to build a progressive business growth strategy?

Then, let’s book a free demo with the TrackOlap team to better understand our system.

#lead management software #lead software #sales lead management software #lead management app

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orbemnews · 3 years

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Analysis: Bezos leaves behind a company that's created value but has also triggered a national reckoning Bezos, the world’s richest person until recently, has gone from selling books out of his garage to running a company that makes consumer electronics, produces award-winning films and TV shows, offers organic groceries and hosts some of the world’s biggest websites. His company’s ambitions include delivering packages to households using flying drones and spreading facial recognition technology to virtually every consumer’s front doorstep. With each new innovation, Bezos and Amazon have offered the promise of making life easier, more convenient and enriching for customers. But these services also became testaments to Amazon’s ever-expanding power, influence and self-interest, inspiring fierce criticism from the company’s opponents: that Amazon kills brick and mortar businesses; that it bullies workers; that it uses the data from its massive online storefront to maintain a monopoly; that its partnerships with law enforcement have made it an accessory to discriminatory policing. “The guy was just obsessed with the end user. They were the highest priority,” said James Bailey, a professor of leadership development at George Washington University’s business school. “It’s one of those situations where your biggest asset is also your biggest liability.” Now, as he prepares to step down as CEO of the $1.7 trillion business he built and take on the role of executive chair, Bezos leaves behind a company that’s created immense value for consumers, investors and many small businesses, but which has also triggered a national reckoning over the costs it may have created for everyone else. A model for building online companies Bezos’s ambitions were large from the start: He launched Amazon at a time when few people knew what the internet was and chose the name, he later told journalist Brad Stone, in part because the Amazon river is “not only the largest river in the world — it’s many times larger than the next biggest river. It blows all other rivers away.” To achieve his vision, Bezos frustrated some shareholders by investing heavily in the business. It wasn’t until the end of 2001 that Amazon had its first profitable quarter, and its first profitable year didn’t occur until 2003. Amazon would continually flirt with profitability for the next decade. This approach would become a model for many others in Silicon Valley, and perhaps even something of an excuse for cash-hungry startups that seemingly burned through money without a pathway to profit. “Bezos created the blueprint for building internet businesses, being hyper customer-centric, and scaling disruptive innovation,” tweeted Aaron Levie, the CEO of enterprise cloud company Box.com. No other innovation symbolized Bezos’s appetite for losses like Amazon Prime, which was launched as a $79-a-year subscription plan and introduced what became the company’s most recognizable offering: free two-day shipping. On the surface, Amazon Prime stood to lose money. The cost of its benefits — which came to encompass not just fast shipping but streaming media, digital photo storage and discounts on groceries — outweighed what the company made in subscription fees. But it was another example of Bezos’s long-term plan to lure new customers into Amazon’s orbit and persuade them to become mega-spenders on the platform, thereby allowing Amazon to lower its costs even further to attract yet more customers, creating a virtuous cycle, or what Bezos called a “flywheel effect.” The company last year announced it has more than 150 million Prime subscribers worldwide. Relentless, or ruthless? As Amazon became a bigger player in retail, it inevitably came into conflict with others, both big and small. In some cases, it effectively drove them out of business. The bookseller Barnes and Noble announced in 2019 it was going private after a decade of trying to keep pace with Amazon. Toys”R”Us has blamed Amazon’s aggressive pricing for crushing the quintessentially American toy store. Rightly or wrongly, Amazon is often listed as a contributing factor behind the so-called retail apocalypse. And these days, the mere mention of Bezos’s interest in a new service is enough to send an entire industry’s stocks into a downward spiral. Like Walmart before it, Amazon has come to be viewed as “the new big bully, at least in the internet retail space,” said Bailey. Amazon famously clashed with book publishers over who controlled e-book pricing. It deliberately lost money selling diapers in order to thwart Diapers.com — then, according to a landmark antitrust investigation by US lawmakers, it acquired the company before raising diaper prices. (Bezos has said he does not recall giving an order to raise prices.) Amazon’s growing clout has allegedly given it immense leverage to squeeze its suppliers and to use third-party sellers’ own sales data against them to gain an anti-competitive edge. Bezos has argued that Amazon prospers not at others’ expense, but rather when it helps grow the whole pie. “Amazon’s success depends overwhelmingly on the success of the thousands of small and medium-sized businesses that also sell their products in Amazon’s stores,” he told Congress. Bezos also ruffled feathers when he held a highly publicized contest for the privilege of hosting Amazon’s newest headquarters. The so-called “HQ2” was pitched as an engine for local job creation and economic growth, particularly to small and mid-sized cities seeking development. For months, dozens of city leaders jockeyed for Amazon’s favor with offers of tax breaks and real estate. Ultimately, though, Amazon opted for Northern Virginia — just outside of Washington, D.C. — and New York, two of the nation’s wealthiest and most obvious metro areas, leaving many onlookers perplexed. (It later withdrew from New York after facing backlash from members of the community.) The entire episode was a bizarre flex of Amazon’s power and influence. To some critics, the good that Bezos has created does not negate the alleged harms. On the 2020 campaign trail, figures like Sen. Elizabeth Warren called for Amazon to be broken up, and regulators are circling. “The US and Europe are coming for Big Tech, and I don’t think the lawsuits against Facebook and Google are the end of it,” said Paul Gallant, an industry analyst at Cowen & Co. What’s good for customers isn’t necessarily good for workers Just as Bezos’s growing empire raised questions about whether it was good for other businesses, it also raised questions about whether it was good for workers. Rising automation, complaints about working conditions and a tough stance against unions all contributed to years of employee walkouts, petitions and, in some cases, lawsuits. Many of the company’s white-collar workers have also protested Amazon’s impact on the environment, calling on Bezos to make stepped-up commitments on climate change. (Amazon and Bezos later pledged to do more, with Bezos committing an initial $10 billion of his own money to fight climate change.) Early on in the pandemic, Amazon faced a warehouse worker revolt over a lack of hand sanitizer, masks and other protective gear. After one New York-based employee organized a protest over the issue, Amazon fired him for violating the company’s Covid quarantine policy. Amazon has since said it’s put in place temperature checks at fulfillment centers, ramped up its cleaning regimen, and established some 150 “process changes” to keep workers safe. Amazon has won plaudits for increasing its minimum wage to $15 an hour, but only after intense pressure from labor groups and some US lawmakers, including Sen. Bernie Sanders. And the same day that Bezos announced his plans to step down as CEO, the Federal Trade Commission said Amazon would pay more than $60 million to settle allegations that it withheld tips from its contract delivery drivers. In the coming weeks, Amazon workers in Alabama will vote on whether to form the company’s first US union. In response, Amazon has pushed for in-person voting despite the ongoing pandemic and launched a campaign to discourage unionization. “Jeff Bezos built his multibillion-dollar empire on exploitative practices including wage theft and surveillance tactics designed to bully workers into silence and prevent them from organizing,” said Rashad Robinson, president of the civil rights group Color Of Change. A tech icon whose reputation reflects his industry’s Despite the criticisms, Bezos will undoubtedly be remembered in the business world as a brilliant strategist and a disciplined entrepreneur. Bill Gurley, a prominent venture capitalist, called Bezos’s tenure at Amazon “the most spectacular CEO run of my lifetime.” In many ways, Bezos’s story with Amazon mirrors that of Silicon Valley. He began with a small idea in his garage that would change the world. He was lauded for innovating his way to success, putting in hard work and taking calculated risks. But those same choices also led to claims that his company had grown too powerful for its own good, and for the good of society. Now as allegations about Amazon’s power and approach to competition may be leading to a showdown with Washington, the billionaire CEO is tapping out. In a letter to employees this week, Bezos said he plans to spend more time on his newspaper, The Washington Post, and his spaceflight company, Blue Origin. He also plans to get more involved with his philanthropic initiatives, perhaps following in the footsteps of another transformational tech CEO — Microsoft’s Bill Gates. “Bezos wants to go out on top,” said Gallant. Source link Orbem News #Analysis #Bezos #company #Created #JeffBezos'scomplicatedlegacyasCEOofAmazon-CNN #Leaves #National #Reckoning #Tech #triggered

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sadamsaadi · 3 years

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Ideenmanagement Software

New companies are not burdened with bureaucracy that keeps bigger companies from adopting innovative ideas and a process. By developing a good culture and framework for innovation from the beginning people can ensure that their company is competitive independent of how new they are. Using the collaborative approach of all employees, mentors, consultants and even its competitors, new companies can spark the creative process to lead to game changing innovations from themselves and their industry.

The old paradigm of having a creative or research and development team seems to be fading and in any case is out of reach for new companies. By leveraging any available creative power (employees, business partners, customers) a new company can develop innovative ideas. The time that people need to output creative solutions varies from person to person, but by setting aside thinking and free time you can unlock their true creativity. Once they are able to generate the ideas it then becomes important to put them into a carefully designed process to maximize each idea.

Unternehmensberatung Stuttgart

Each innovation process for developing the initial ideas will look slightly different but the core concepts will remain the same. Finding ways to encourage idea creation that is then captured and rated in some way, determined by your needs at the time, will increase the effectiveness of the process. People involved in the innovation process of the new companies need to be encouraged to take risks in not only coming up with seemingly abstract ideas, but also in the development of these ideas.

KVP Software

The important thing to keep a handle on is the testing process for the innovations. If something is exploding and testing really well you have to be able to through resources at it as long as it makes financial sense. The more new innovative ideas that a new company can test the more likely they will be to find something that works. By removing the barriers to innovative idea creation and testing you will allow a new company to develop a few innovative concepts that could make the company a success.

If the process is solid but the people that are inputting the ideas seem to be coming up short you can look to outside influences to spark the initial idea generation. This can be achieved by holding a contest with staff and customers, bouncing ideas off of a mastermind group, or even discussing market trends with your competitors. The important factor in not wasting any innovative ideas that are generated is to have a process to flush out and test this idea as quickly as possible.

Ideenmanagement Software

By putting aside resources such as time and money you will be able to develop and cultivate an innovative process that will grow as your new company grows. Take the time to innovate on the innovative process itself and know when to feed or kill the ideas as quickly as you can so that you don't waste time or other resources on ideas that don't pan out. As a new company you have fewer resources to waste and therefore you should tighten the innovative process so that you can still generate and test several ideas without wasting as many resources

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escalonservices · 4 years

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Being an entrepreneur is one of the most fulfilling things a person can do, but it also involves taking significant risks. To manage these, you must be prepared for the risks that you might have to take during your entrepreneurial journey.

Being aware of the common risks that entrepreneurs face can help you carefully plan for the future. Following you’ll find a list of 16 risks that every entrepreneur has to take.

1. Innovation and Opportunity Risk

Considering the fact that customers have ever-changing demands, entrepreneurs are consistently able to find opportunities for new business ventures. Every entrepreneur accepts this risk as the cost of business ownership and they understand that their ventures might fail if not calculated well.

2. Career Risk

Once you venture into the world of business ownership, you could be too busy to secure or sustain an alternative line of income, so you might have to quit your current job to dive deep into entrepreneurship. Although some people have the luxury of a backup plan or an option to resume their career if things don’t go well in their business, many entrepreneurs also work part-time in the beginning so they have a safety net to fall back on.

3. Abandoning Regular Paychecks

In the first few months of a business, there is usually no guarantee of any personal income. In the first few years, you’ll need to work toward sustaining your company instead of envisioning a steady income. Therefore, make sure you have at least the budget for this period in reserve to keep your business afloat.

4. Sacrificing Personal Income and Time

Many entrepreneurs can start their ventures relying solely on external funding, such as angel investors, government grants, loans and crowdfunding campaigns. But some entrepreneurs are unable to secure outside funds, necessitating them to invest personal savings to get the business started and keep operations running. It is a high risk to take, but once things start to pick up, it often turns out to be a risk worth taking. Entrepreneurs might also need to invest personal time and experience much more stress than usual. How you manage this risk could determine how big the reward of entrepreneurship will be.

5. Financial Risk

Every entrepreneur has a financial plan showing income projections and the expected return for investors. If you don’t have sufficient revenue to meet your financial obligations, your business might run out of money. You can mitigate financial risk by forecasting and budgeting cash flow and making sure that your income always exceeds your expenses. You’ll need to actively manage your cash flow, predict demand and supply, stick to a strict budget and find ways to reduce business costs to minimize financial risk.

6. Estimating Demand

Entrepreneurs often evaluate their target customers’ interests, but there’s a chance that they overestimate the market demand for a particular product or service. And if your projections are wrong, you may not achieve projected sales volumes. Changes in customers’ interest due to any reason may also make you vulnerable to this risk. Therefore, it is a better idea to analyze your target customers’ demands and industry trends thoroughly before launching, and frequently as you grow.

7. Trusting Business Partners and Employees

When you start your business, you’ll probably have a small team of employees working with you. To get the jobs done on time, you’ll need to put an enormous amount of trust in your business partners and employees. However, trusting others is one of the most common entrepreneurial risks. There are so many issues that can arise in case this trust turns out to be misplaced. Therefore, entrepreneurs should build a team of managers who can lead employees in the right direction to reach their goals.

8. Competitive Risk

Every business faces competition from its rivals, but to minimize competition, you must run a proper SWOT (strengths, weaknesses, opportunities and threats) analysis of your industry. To stay ahead of your competition, always be aware of your competitors and patent your innovations.

9. Market Risk

Market risk refers to the risk of loss due to market fluctuations. With the volatility in global currencies, many businesses are exposed to risk, particularly while tapping into overseas markets. Therefore, managing foreign exchange risks should be the priority for companies with customers, suppliers or production in foreign countries.

Entrepreneurs should keep a close eye on these future risks to keep their profits intact. To mitigate this risk, you should develop and implement various strategies that can inform you of potential changes or disruptions in market trends.

10. Cybersecurity Risk

With businesses embracing digitization and increasingly relying on data and IT systems, the risk of cyber threats has grown in recent years. Cybercrime is a growing problem that affects businesses of all sizes and in all industries. The cybersecurity risks not only lead to trust issues, but also amount to billions in losses. To protect your business, you should identify prospective cybersecurity risks and secure those areas.

11. Technological Risk

Every entrepreneur has to face technological risks, thanks to constantly emerging new technologies. Many business owners face losses due to technology failures, such as the crash of their e-commerce website or malfunctioning equipment. In addition, incorporating new technology into your business can pose some risks, such as the cost of the programs or devices that may outweigh the profitability of their applications.

To be competitive, you should invest in upgrading your systems and processes, which could drastically affect the bottom line of your business. To mitigate technological risks, plan for the future so you are ready with new technologies at all times.

12. Strategy Risk

Since companies plan for future goals, there is always a chance of things going wrong because the future is uncertain. The combination of an inappropriate pricing, marketing and distribution strategy can lead to a high potential for risk. With changes in the market or the business environment, you might struggle to reach key performance indicators with current policies, requiring a different approach. Analyzing and upgrading your strategies in light of your evolving business’ needs and market trends can help you reach your goals faster.

13. Economic Risk

A company’s success can be affected by external economic factors, such as tax rates, market forces and recession. Use financial and insurance institutions to deal with such types of risks. Changes in interest rates can also affect a business’ bottom line. The more variable-rate debt your company has, the higher risk you’ll experience, which can make your budgeting and planning uncertain.

14. Customer and Counterparty Risk

Starting a business presents the risk of customers and counterparties not fulfilling their contractual obligations. This risk often increases when the companies do business across international borders, since unforeseen political and economic risks can jeopardize the company’s receivables. Third-party firms’ failure to deliver essential services on time might prove to be costly for your business. To minimize these risks, check testimonials from other clients and back them up with a thorough background check before partnering with another firm.

15. Credibility Risk

The credibility of a brand helps in establishing the business and can influence the purchasing decisions of potential customers. An entrepreneur faces a credibility risk when launching a new product or service in the market. When starting a new company, credibility is typically low, since most customers prefer to buy from a brand they know and trust. Taking credibility risks can often be necessary for entrepreneurs.

16. Design and Development Risk

Every entrepreneur is likely to experience design risk when a product or service does not meet the required performance standards. Most entrepreneurs have to make multiple goals contingent on a handful of deadlines. Development risk occurs when the product or service design is not completed on time, within budget or has defined specifications. You can reduce these risks by running continuous checks and communicating regularly with staff.

Originally published at https://blog.escalon.services on August 24, 2020.

#Entrepreneurship #Business #entrepreneurs #Marketing #Experiential Marketing #Startup #Startup Business Tips #Risk Management #Entrepreneur Ideas

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blog-researchblog · 4 years

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My Future As a Advertising Manager

Reflection

I have always thought about what I have wanted to do with my life since I was young. From going to college and starting off as a biochemistry major and switching into marketing, there has been a very big change in my life and I am working through it to see and set up my future. What I now would like to do after college is get a job within the marketing department specializing in advertising. Advertising has always interested me because growing up advertisement has been everywhere, good and bad. It brings the attention in and makes you focus on what is going on whether it is advertising with retailing, big businesses, or even politics. I know marketing is the right fit for me because it blends my passions and interests.

There is a lot to be passionate about but some things that I am very passionate about are working out and working on bettering myself as a whole. The article from Scott Christ’s “7 Powerful Questions to Find Out What You Want to Do with your Life” helped me more closely reflect on how my passions and interests can connect with this career. I love working to make my life better and try new things in life, one thing that I had tried for the first time is painting. Painting is a good stress reliever and it makes me think about what things to put together to create art. Creating art is something I would love to do within the future like putting things together to make a masterpiece. Another passion that I have is working, at a very young age I started working and not a lot of people can balance their time wisely but somehow I have done it. Between being so young and working is like a second world, I would go into work and I get to be my best self meeting other people's needs and creating friendships through that job that I have and also finding out what we all have in common. Working with people that I actually enjoyed and got along with is motivating, I have worked with people that treated me awful and it made me not want to show up to work anymore. What I have come to the conclusion of is that all jobs are different and with all the knowledge that I have gained from working so young and progressing throughout the years of different companies, learning different strategies would surely bring some sort of enlightenment throughout schooling so it explains why I have such a passion for this type of major.

Which brings me to my last point, I feel like I am willing to work as hard as I can to get what I want. I am here at college which none of my family has done and I am willing to stay here and be dedicated to getting my degree to not only prove to myself but prove to my family if I want something, I have to work for it. I will always live by that with any situation because it creates a good mindset on not only your work environment but your home life. Making sure that I am on track and I am knowledgeable about obtaining a marketing degree and working on the qualities that I need to represent a good one, I had decided to do a little more research on the degree itself in the Occupational Outlook Handbook to look into the pay grades in different states, and much more that created a lot of interest for me.

Reality of the Job

According to the Occupational Outlook Handbook, marketing and advertising managers are projected to grow eight percent from 2018 to 2028. Under the management title, there was a “Advertising, Promotions, and Marketing Managers” title, and a screen showing all types of information in that field of work including how to become one, how much they pay, and many more. An advertising manager's job is to create interest among potential buyers of a product or service, sometimes they put together campaigns for clients, or advertising in the media to advertise the organization. The number of jobs that are currently projected is a very big important factor because everyone wants a job that will always be needed in the future.

There is also a page that shows at least a bachelor's degree to pursue in this career and it also gives examples of classes that would be beneficial to take such as management courses, economics courses, and even computer science courses. Some of the important qualities contain analytical skills to determine strategies for the organization to interpersonal skills which deal with people inside and outside the organization. To do more research about this career I had interviewed a family friend to see what the job was like on a day to day basis.

On the job Interview

Furthering my interest in the marketing department, I interviewed Renee Mentionis who is a store manager at Victoria’s Secret in Freehold, New Jersey. I had met Renee while she was working close to home at a shopping mall at Ann Taylor just starting off as a Team Lead. She had gotten her business degree at East Stroudsburg University and although she is not in marketing/advertising, I figured she would know a lot about the career and what is going on around that field of work.

I started the interview by asking what her normal day looked like and she said her every day job is to influence and inspire through employee engagement. One of the things that a manager especially should develop into being is inspiring and influential to the employees that would want to build up in the company and get to a position where someone is withholding the entire company. Renee had told me she “selects top talent for open leadership positions within the district”and searches for people to recruit for her positions that are available. Growing into leadership roles jobs become more complex because managing higher volume stores and oversees a lot of the managers and employees.

The work environment seemed to be interesting so I had asked Renee what the work environment looked like on her day to day basis and she explained that the completicity is also related to the work environment, and hers is very fast paced, which is normal for a typical retail business environment in an area that is well known for shopping. Specifically she said, “the environment is fun, high energy, and can be very stressful at certain times of the year.” which in regards to Black Friday and Christmas Eve shopping. Black Friday is where she sees the most traffic because of all the deals that they have. Also Victoria's Secret has two annual sales that create a lot of business to where customers come in and out and it is super hard to stay high energy when it is super busy. Keeping a fun environment in a job like retail is very important because having coworkers and peers get along makes working together a lot easier. There were times that I had worked with horrible attitude coworkers and they showed no interest in working together to maintain a good working environment and that brought me to a point where I did not feel like doing the best that I could.

The retail industry is also suffering due to online shopping but that does not stop the traffic that comes in. Renee explained “Some stores, in general, are having issues with traffic deficits and shopping online is helpful in convenience”. With going into the marketing business a lot of the work that would be occurring would be online advertising and it's very possible to see in store businesses increase greatly and I am sure that is not good for the business. Renee had said that the thing that interests her about working in the service industry is looking how to fix and work with the problems that go on in a company and lead and develop a successful business. Making sure everything is in order and going correctly also interests me, so I think that maybe this really is the job for me.

This whole interview experience enlightened me on the hard work I will have to put in to achieve what Renee has achieved in her years of starting off as a team lead into the top manager she is today. She explained to me that it is going to be a lot of work, working in a fast paced environment but the whole point of growing up to be successful in not only your job but in life is working hard with business marketing can lead to some problems in the field but can find ways to be fixed, which I had found an article in The New York Times explaining an advertising problem that has gone on currently and what you should watch out for in those types of situations.

Career in the News

Rihanna’s Lingerie Line Accused of Deceptive Marketing

The New York Times: Sapna Maheshwari

In Sapna Maheshwari’s article from The New York Times, Rihanna's Lingerie Line Accused of Deceptive Marketing she explains Rihanna’s line is deceiving because of the Savage x Fenty line advertising for the monthly subscription that they offer. The advertising company called Truth in Advertising is not putting all of the terms and conditions in the monthly subscriptions so people are being charged for things that they don't even realize they are being charged for. This discount was created so people are prompted to sign up and buy things on the website for a cheaper price but in reality it is doing more harm than good. Truth in Advertising has tracked hundreds of complaints about the company's billing practices and are warning the consumers who like to shop on Savage x Fenty to be aware and to read the terms and conditions before signing up for something.

I chose this article because I felt like when Renee brought up the issues of having trouble with the media and not being able to control everything all at once this was a perfect example. This industry is very competitive and this article shows that some things can be advertised the wrong way and give people the wrong idea when it comes to buying something.

Some things that still come up as questions to me are if advertising is really a big issue in the industry or if it is benefiting the industry. As for articles like the one I had chosen, it is hard to come up with answers because people are making a living advertising brands so that they can profit from it. It was intriguing learning about how something so small can impact a company’s profits and what I would like to do in the future is limit that as a factor by using skills that maybe some companies do not have at the moment while working as an advertising manager. The overall point I am trying to make in picking this article, interviewing Renee Mentonis, and researching the Occupational Outlook Handbook is that advertising is everywhere and learning and getting to know my major gave me a different perspective on how hard the job is and how hard you have to work to get it.

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prathignacom · 5 years

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How can Human Resource Keep Itself Trendy during Recruitment

The past decade marks a remarkable change in the role of HR. Boosted rather quietly but rapidly by major technological advances, how HR practitioners approach the strategic implementation of people processes has been fundamentally altered by the advancement of technology and shifting priority on human talent from processes.

A leading US-based HR professionals association SHRM reported that a decade ago companies viewed succession planning and the skills that were associated with achieving success were top future challenges for employees. In a 2017 study conducted by Randstad, it was found that a major challenge faced by companies will be finding and retaining employees, especially considering the extreme competitiveness and availability of skilled talent.

It has become the primary duty of the HR to:

Recruit the most high-performing employees

Ensure they feel like they belong in the new job/company

Give them sufficient reasons to stay in the same company

This entire process (not just a single task) needs to be addressed holistically. We have different generations of work practices involved now, and it needs to factor in concepts like the individual employee journey and how each stage of employment, from recruiting to onboarding to career development, going to career transition, which impacts each individual employee journey.

The evolution of a holistic HR approach took time to form and develop, but it's reaching its target now, allowing a few global trends to emerge from around 2008-9.

Trend #1: Employee Journey - Building a Career

Getting increasingly inspired by the shift towards companies focusing on their employees and placing a high value on their value and their satisfaction with the working conditions & the company. A rather recent the idea, where HR leaders take into consideration progress from onboarding to career development, going to career transition - which impacts each individual employee’s journey. have to start to think of their department as a central hub for all the teams and departments company-wide, it lays down that the role of encouragement & supports lies with the HR department, guiding their journey and career advancement - which can, on occasion involve finding alternative or internal opportunities for career advancement or re-allocation. It can also involve supporting employees through career transitions outside of the company.

With this comprehensive holistic approach when it comes to the employee journey, new ways of attracting and retaining employees open up. Recruiters can discuss opportunities for career advancement with candidates in the interview, leading to a clearer status on the chances of success in the company.

Trend #2 Rise of Work From Home

Studies report that the US employment industry has seen an increase of 16% in the remote workforce between 2008 and 2012, as a result of a few of the cost-cutting measures companies adopted after the period of recession. A workforce that works remotely can prove to be profitable for companies, especially when one considers the rising cost of office space in key cities. Companies with large numbers of remote workers also save additional overhead such as catered lunches, snacks, and cost of other office facilities.

The primary benefit is beyond the official bottom line, flexibility is viewed as a perk that job seekers ask about during the negotiation phase while considering the job offer. As reported by Remote.co, offering remote work options reduced employee turnover by offering flexibility to workers. The key lies with HR can ensure that remote employees don't feel separate from the greater team and that they remain productive and engaged. Outlining consistent policies and providing guidelines for constant communication is essential to this process.

Thanks to progress in technology that makes it possible; in addition to the cost savings, increasing employee demand for flexibility, Work From Home (remote work) is a trend that will continue to grow in the coming years. What is interesting is that a PGI Survey shows at least 79% of knowledge workers would leave their current job for a full-time remote position if the pay was equal.

#3 HR increases stake in the brand

The rise of social media has created an atmosphere of transparency and a window into your organization and its brand. As a result of the increased presence of employees both current and former, on social media (especially Twitter and LinkedIn), your company culture is no longer confined to the physical limits of your corporation. When employees are laid off or leave voluntarily, it is very likely they’ll cross paths with your company and its employees in the future. Alumni employees are future customers, business partners, brand ambassadors, future employees, and influencers of your employer brand and sentiment.

HR’s role has now adapted itself to include brand management and careful significant attention to creating a positive company culture that results in satisfied employees in addition to creating an employer brand that can attract the best talent. Companies have come to realize that building a positive culture and supportive work environment creates former employees who will represent the company and its culture positively to the external world. Conversely, when the work culture doesn’t meet expectations, unhappy employees often share their negative opinions much quicker than you can fix it, and this can negatively affect your brand image. In the current scenario given the prolificacy of social media, establishing and maintaining a strong internal culture is bound to have positive ripple effects on brand sentiment.

These are the practices that our company practices when we seek to place candidates in potential client's locations. As a manpower agency, our staffing solutions work with these principles as a base, to ensure clients get matched with the right candidate. Companies looking for hiring solutions need candidates who will adjust well to their company culture and adopt the right practices for success. To learn more, access our website at http://www.prathigna.com/ and see what we can do for your company.

#Employment Agencies #Recruitment Agencies #Staffing Agency #Manpower Agency #Recruitment Consultant #Placement Agencies #Placement Services #Job Placement Agencies

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