February « 2009 « Fresh Idea

22Feb/090

Developing New Products

For most businesses, creating new product is a real challenge to satisfy the customers. Remember that costumer needs always changing, so what the costumers want today will be different with the future.

To remain competitive, your business must be able to expect and respond to these needs and to make effective use of new technologies. The way to accomplish this is by developing new products and services or by improving existing ones.

The company that developed the electronic lightbulb, for example, invented a product that lasts years longer than traditional incandescent and fluorescent bulbs and is more energy-efficient, too. Unless a business has a plan to guide it, though, the chances of it's coming up with profitable ideas for new products, product modifications, or improvements are minimal. To make the most of your resources as your business grows, you must have a systematic plan for developing new products and managing your current ones.

Filed under: Knowing competitor No Comments

19Feb/090

Preparing Your Business Plan

With the rapid changes occurring in the marketplace and the increasing levels of competition that all businesses face, you need have a good business plan to be a winner on the competition. Just hard work alone will be not enough to make your business a success. To succeed, all kind of business must have business plan that contain a clearly defined objectives and a fully developed tactics for achieving them.

Far from imaging a business plan as a luxury reserved for big businesses or as something created solely to impress the financial community, entrepreneurs should see it for what it is one of the most important tools a business can have. The organization chart shows working relationships of the people within a business, a business plan shows the purpose of the business and what it intends to accomplish. A good business plan helps to give substance and form to an entrepreneurial vision, providing a mechanism that enables owners, managers, and workers alike to function effectively. The better the business plan, the better equipped your business will be to recognize and assess the opportunities and risks that lie ahead.

Filed under: Business plan No Comments

15Feb/090

Organizational culture

Organizational culture is created by the dominant coalition, especially by the founder or CEO of an organization, and public relations managers do not gain influence if their values and ideology differ substantially from that of the organization.ional culture is created by the dominant coalition, especially by the founder or CEO of an organization, and public relations managers do not gain influence if their values and ideology differ substantially from that of the organization. Organizational culture is also affected by the larger societal culture and by the environment. It affects public relations in the long term by moulding the world view of the public relations functionand thus influences the choice of a model of public relations within an organization.

Filed under: Corporations No Comments

9Feb/090

Variable Expenses

Variable expenses are an important consideration when you're trying to identify what additional income must be brought in to reach your objectives. These are the expenses that increase or decrease with the ebb and flow of revenue. When identifying the target amount that you need to earn, ask yourself what you'll have to spend to generate this additional revenue. Obvious examples might be supplies, the cost of goods sold, shipping costs, sales commissions, promotional expenses, or additional manufacturing costs depending on the type of business you are in. You might simply know off the top of your head what expenses are variable.

If you need a reference source to make sure you've identified all variable expenses, we'd recommend looking at your Profit and Loss Statements. Typically, your accountant, as part of your annual financial statements, prepares Profit and Loss Statements. Identifying what expenses increased or decreased other than normal inflationary increments with a corresponding increase or decrease in that gross revenue number will help you identify all your variable costs