What is the business strategy? (first term)

When it comes to strategy, people tend to relate to the mission, vision of the business. Actually not so. The mission and vision of the business, although always be included as part of the strategy, but it does not provide a clear direction for the operation of the business.

The strategy is the creation of a unique position and value through the deployment of a system of different activities with what competitors perform. So a strategy of how to help enterprises build such a position in the market?

The elements of business strategy

A business strategy must have four elements: strategic objectives, scope strategy, competitive advantage and strategic activities and core competencies. Four factors requires a consistent and fit together.

Strategic Objectives

A strategy should begin by identifying the expected result that the business strategy is established to implement them. The strategic goal will serve to guide the operation of enterprises in a number of years.

Need to distinguish between strategic objectives with the mission, vision of the business. In fact, many companies tend to confuse objectives with corporate mission. The mission of the enterprise indicates the purpose or reason for being in the business so generalization is often high. Conversely, strategic objectives to ensure specific, quantitative and clear deadline.

The choice of what goals have great impact to the business. A business is profitable option strategic objectives will focus on serving the customer groups or market segments with high profit products with high added value or performance costs exceed costs excel. In contrast, the selection of target growth may lead firms to diversify product lines to attract more customers in different market segments.

The most important goal oriented business strategy to be profitable and sustainable. The strategic objective is usually measured by the rate of return on investment (ROI), but can also be measured by the rate of return on equity (ROE) or rate of return on assets (ROA). Enterprises can also take other objectives such as growth strategy, market share, quality, customer value ... The choice depends on the target industries and stages of development of each enterprise, but However now be very careful in selecting targets growth and value stocks or annual accounting profit making strategic objectives because it can lead now go towards sustainable development.

Scope strategy

An effective business strategy is not focused on satisfying all the needs of all market segments because if doing so now will be distributed resources and efforts. Therefore, enterprises need to set limits on customers, products, geographic area or industry value chain in order to have the focus and the best satisfy customer needs - it's strategic scope. The scope of the strategy does not necessarily describe exactly what to do, but now need to define and transfer staff will not do anything now. For example, a bank does not define credit to business customers found that volatile as steel, fertilizer. This is necessary so that middle managers do not spend too much time on the project which will then be dismissed because they did not fit the strategy.

Businesses can choose to focus on one or a few to meet the needs of many customers as:

- Focusing on the multiple needs of a small number of customers as in the case of Phuoc An offer many different products (shirts, trousers, ca-ra-beveled, suitcases, shoes ...) for business customers workers, workplaces with high incomes.

- Enterprises can also choose to focus on the needs of many customers in a narrow market sector.

The selection of the range should be based on the principles of market demand and now really really knowledgeable and able to meet the demand. Enterprises also need to avoid confrontation with the strongest competitors or are responsive to the needs of the customer.

The basic business skills

Communicate effectively

Communicating is a very broad term. I do not mean the rhetorical skills to convince here, what I mean is the ability to speak clearly, fluently. You can also use the ability of your body language so long as what you say is most easily understood.

Ability to listen

Along with conveying a professional sales person know when to stop to listen. The sales professional will never interrupt others when they are speaking, because to do so they will not be able to identify the expectations of the audience they are trying to convey

Set intelligent questions

Salespeople often curious to know the needs and aspirations of people actually buying is, so they need to put these questions lead to answers. Asking questions is a natural skills of the sales because they are always eager to find a solution to your problem

The problem-solving

One other sales skills is the desire and ability to solve problems. A sales professional who wants to solve the problem. The ability to focus on the question of the buyer problem is and give useful advice to solve this problem based on the product or service they sell, how to benefit both the qu the two sides.

The proposal and the end

A successful sales person will do all the sales from start to finish. They never need anyone to tell them at one time or another need to do more than anyone else because they understand that if they do not they will not make a penny. They have persevered since the beginning to the end. They always cogang achieve their goals even the smallest target.

Photos confident, dynamic

The thought that they could do what they set out to be common sense in those sales. They do not cower in the meeting or talking to other people, they are always trying to find something new. They rarely allow negative things about yourself affects what they're trying to do because they know who they are and what they can do.

Measles errors and thoughtful

The most professional sellers usually are very courteous and bug thread. You may not realize this, but courteous, measles error is a way for you to express politeness, respect for others. People are often attracted by the polite with her and this is the foundation to build relationships with other people ... including buyer.

There are persuasive natural

One other skills also visible in the sales professional that is very convincing them or they know how to get what they want. They focus on what they want and they are loyal to that direction until they reach the target. They almost never abandoned or resigned.

Man of integrity

Honesty in sales is very important, however, this skill can not be trained. A sales professional integrity is indispensable if not sooner or later they will lose customers that they had to take a lot of effort to get it. The fact proves that customers have been very difficult to lose customers, but it is very easy.

-> Become a salesperson is not the result of a fortunate accident. Success is the result of the effort, passion and skills to integrate the sales. So equip yourself with the knowledge you need to conquer your customers today.

5 Leadership Lessons will not be learned in business school

Forget "vision", "passion" or other theoretical in the business, this is the best practice to share the author's experience of his leadership.
I sat in the classroom. The professor said about the characteristics of a great leader. I certainly can not object to his list: passion, vision, dedication, inspiration, responsible, ... That's a very important point, but it's hard to remember and more is applied in practice.
"Let's inspire members of the group" is great advice, but how to implement it?
I realize that most of what I know about leadership not from schools or workshops.
1) The information easy to easy to go, but pride is forever
Facts and figures, charts, tables or results, ... very useful in the interpretation of logic and reasoning, they will quickly be forgotten.
However, if you make employees feel foolish or lose face before others, he will never forget it.
One of my employees express their opinions in meetings, and I instinctively countered sarcastically. (For a long time, I like a sniper people with sarcastic comments because I always think it is witty.) Everyone laughed, except him.
Since then, our relationship changed completely. I apologized right away and then back again to apologize, but things were then.
Use double your time for data and logic to think about the feelings of your employees. Fix bug of information or data is easy, but to overcome the damage you caused to the employee's self-esteem, whether intentionally or unintentionally, is almost impossible.
2) Presentation alone will never give out these great ideas
These presentations are a great way to share information and complexity. But it's really bad when used to share creative ideas.
After almost hear a presentation about the Sig Sigma, and I cut them and say, "Let's share ideas." Some people will say, "Ah, well, we will discuss the data, technical analysis and their conclusions ...". But most people do not care and really and I can not blame them.
These great ideas can only in a few small words, and your staff have the idea, let them share. All you need to do is listen to them carefully and absorb the wonderful idea.
3) "The penalty voluntary" kill line creative ideas
The best employees will often have the best ideas. And nature is responsible for implementing the idea will be delivered to the given idea. Moreover, if the person is a good employee, you will always want to assign responsibility for him because it ensures the work will be completed.
Of course, good staff who have worked hard with intensity, so when assigned to them each time they offered would be able to stop their flow of ideas.
As an excellent staff explained to me: "I finally realized that to stop giving him the idea, because every time, he assigned me one more new responsibilities." It's like a "voluntary punishment". Sometimes employees are willing to implement their ideas out, but other times not so.
So how to know their answer?
Ask for it!
4) To share the positive results will lead to a negative
I once said about changing paper vacuum system will improve air quality in the factory how, but I have a true bypass, which will lead to a number of staff will look like Maybe they just roll into a tub filled with wheat to plant each day.
Never ignore the negative issues, talk openly about the downside, especially when it affects the left side directly to the employee. Demonstrate that you understand the best thing and the worst that can happen, and it will affect how your team.
When you are comfortable discussing the potential negative issues, staff will not only respect you more, but usually will work harder to ensure that the underlying problem does not occur.
5) Listen to the people instead of listening to the number
Once, I made shift rotation for 2 group of about 30 employees because I know that it will help improve productivity by 10%. I also know that most of them hate the rotation because they have told me that. But I hold the company and I understand the great leaders willing tough decisions and do whatever possible to achieve the goal.
But it turns out I was totally wrong. Of course, the rotating shift work. But it has ruined the lives of a family of employees. Finally I had to change this stupid thinking and moving people on the right shift old. We have to find other ways to improve productivity.
Sometimes a decision should not be based solely on analysis, logic or reasoning by which decisions are made by humans.
If the employee does not agree with you, but why not ask questions just to protect their own opinions. Ask to learn. You know what the staff does not know, and they know what you do not - only when you listen to what they say.