Posts Tagged ‘Company’
Too often, companies die unnecessarily. Why? Because most managers haven’t learned to recognize the symptoms of oncoming illness in their business. And when symptoms do start occurring, management doesn’t know how to manage in this situation. They haven’t had to in the past, and they are ill equipped when trouble sets in.
The obvious signs of business trouble are rarely its root causes. Losing money, for example, isn’t the problem. Rather, losing money is the result of other problems.
When you wait too long to recognize deteriorating characteristics, the company will probably seek bankruptcy protection, and only creditors, attorneys, and outside accountants benefit from this process. It’s the astute manager who recognizes fallibility and has the foresight to ask for help…before serious trouble sets in.
Corporate managers, directors, and financial professionals, you share in the business risks of the companies you serve. You accept additional risk when the company is heading for trouble. By recognizing some early-warning signs of business trouble on the horizon, you can eliminate, overcome, or, at the very least, sidestep those risks.
If you can answer yes to some of these questions, it’s time to take decisive action.
Is the owner or top management overextended?
Whose work are they doing? When they continue to perform functions that should be done by others (once the business has grown to a more complex level), they’re overextended.
The use of a toll-free telephone number makes it difficult for customers to immediately identify the company’s geographical location. Moreover, a company can own many 1-800 numbers, using a different one for each area in which it advertises. In the event of consumer complaints, this thwarts investigators from recognizing the connection between biz-ops listings in various newspapers.
A common type of business opportunity involves a company that sells bulk vending machines and promises to secure suitable locations for the machines. The purchaser is counting on the company to find locations where sales will be high enough to enable him to recoup his expenses and make a profit. Because of the many cases of fraudulent biz-ops in which companies have not followed through on their promises, or in which profits were much less than what the company led the investor to believe, governments closely regulate these operations.
In the United States, the Federal Trade Commission receives complaints and helps coordinate enforcement action against fraudulent business opportunities
Makeup of a business opportunity
A business opportunity consists of four integrated elements all of which are to be present within the same timeframe (window of opportunity) and most often within the same domain or geographical location, before it can be claimed as a business opportunity. These four elements are:
The means to fulfill the need
A method to apply the means to fulfill the need and;
A method to benefit
With anyone of the elements missing, a business opportunity may be developed, by finding the missing element. The more unique the combination of the elements, the more unique the business opportunity. The more control an institution (or individual) has over the elements, the better they are positioned to exploit the opportunity and become a niche market leader.
When a person is embedded in a company, it is likely that the dynamics of labor, the daily operation, interrelationships in the organization or type of business, to name a few factors, it loses the ability to surprise and even to realize that something may be coming to affect our participation, performance and management for the institution, and vice versa.
Each person is a unique and unrepeatable, but lack the time in any company to remind us that the organization does not necessarily depend on us, so if given the suspension of our services, the operation of the organization would continue, sometimes with more or less stumbling, but ultimately not necessarily require a particular executive.
While it is true that we do our own business and that when one negotiates or associated with another company, actually we’re doing with people, it is also true that the cold business practice that often “the interests of companies outweigh the people …. ”
It should be noted, then, among other things, that the executive need to be attentive of the “business signs” yes, those little details that make an employee no matter where you not only keep his job, but moving forward with its plan life career projection.
Similarly, business signs should not be considered exclusive indicators of workers, but also the companies themselves. Just a question of reinventing itself daily and avoid that fate alone drive the direction of the organization.
After all, it is aware that an executive at any level must correspond to real value of compensation received by the company, but at the same time as the company interpreted this effort as something tangible, worthy of being sustained and used for the growth of both parties. This simple logic implies that the objectives of both parties must be “aligned.”
Many companies have tried hard to compete to become the industry leader in the market where these companies stand. The companies that apply the various theories of management and operations such as Total Quality Management, empowerment, and coaching with the hope that this new method will solve their problems. Poor leadership has been the main reason for companies that do not grow .. Changes in today’s world faster than ever. Changes continuously in technology with a strong global competition reminds us that without effective leadership of any organization may be difficult to move forward.
Leadership is the ability to direct others, but more important is to have people accept these directives. Leadership is not just a matter of position, leadership is communication, creation, vision, innovation, value, confidence, participation and intellectual curiosity. Leaders of today must be able to communicate, discuss, and ask for input from everyone in the team and organization.