We use the internet for many things that are related to our daily lives. Every query, every search, is conducted on the net and it also provides the most accurate answers. So whether it is shopping, availing of certain services, seeking the consultation of an astrologer or a physician, getting the home groceries delivered at the doorstep, people prefer to do everything on the internet as it provides the easiest solution when it comes to saving time, money and energy. On the internet, it is possible to just about get anything from any part of the world, as well as sell anything sitting at any corner of the world. Hence no doubt the fierce business competitions have shifted from the real world to the virtual world and the main tool happens to be a well designed, developed, and aesthetically appealing website which has the power to draw the attention of the right kind of audience. We could not have imagined in the past that some of the services for which it was a must to visit the chamber/ shop/ counter can be availed on the net. Such has been the growth of the internet over the past few decades that people can have every kind of solution from the net. a superbly designed, modern website can provide the customers anything as the web developers are making it possible to design websites that can sell a truck as well as deliver medicines at the consumer’s doorsteps.
The rules of business, however, have remained the same, and it is the survival of the fittest. The fierce competition ensures that may the best win. Therefore it is needless to mention that whether it an old business house or a new one, having a website representing the business is a must for every business owner. Also, the nature of the business does not matter as long as the website is designed in a comprehensive way and the customers understand what the business is all about. But developing a website which can achieve all that is not an easy task. The help of the professionals must be sought out for a fully effective and functioning website. Therefore, It is best for a business owner to hire a professional web development company who has the resources and the tools to develop and design a website that will make your business aspirations come true. It will be wise to remember that there are other competitors in the market who are having the same products or services that you are trying to sell. Sure, you can give extra discounts and attractive offers, but to get that across to your target customers again a well developed website is required.
A strong website presence is a deciding factor in this and often the fate of your business depends on the quality of the website that you can offer to your target audience. Hence it is never wise to underestimate the role of a professional and reputed web development company in this era of internet business. It is the work of the web development company that you hire to design and develop your website in such a way so that it is not only catchy and attractive but also has all the features that can hook a visitor to the website. This ensures that the visitor can turn into a customer and can bring in more customers as they talk about the website to their friends and families. A business website or an e commerce website, therefore, has to be sleek, snazzy, specialized, at the same time, easy to navigate for the visitors. There are various web development companies that provide their expert services in an affordable package. But it is up to you to choose the company that will exactly serve your requirements. Again, the internet will come to your rescue as you can search the various companies and the services they offer under different price packages. Additionally, if you look at their past work it will prove their proficiency. Only if you find these things suitable then only strike a deal with them.
Property is the best investment and that’s a truth that no one can deny. For ages our ancestors have been using property as a collateral for loans. When we say property what comes to mind first and foremost is resident property. But we’re here to talk about commercial property or commercial office spaces. In the last four to five years, construction of commercial projects in Mumbai has been on a standstill. However, due to the boom in businesses the demand for commercial office spaces is ever increasing.
The increasing demand and lack supply has resulted in a substantial rise in the rates as well rent for these properties. This makes this the best time to invest in commercial projects in Mumbai. So if you still have any doubts about why you should invest in commercial office projects right now, here are five reasons why.
- Stable Economic Conditions: The Indian economy is on a steady growth ladder. It is poised to grow at 7.3 per cent this year. Inflation has been controlled and the manufacturing sector is gradually growing too. The IT sector is booming with successful e-commerce ventures and other IT enabled services. All this has created an increased demand for commercial office spaces.
- Low Capital Values: Even though it promises such amazing returns, a commercial office spaces is considerably cheaper than any residential property. For example a commercial property in Gurgaon, which is a booming business area will cost you lakhs whereas residential property around the same area can cost you double that amount.
- High Rental Yeilds: A commercial office space can easily get you double of what rent you can get for a residential property of the same area. In residential property, annual rental yields are around two per cent, while in the case of office space, it is eight to 11 per cent and picking up.
- Easy to find tenants: There are no restrictions when it comes to finding tenants for a commercial office space. The same cannot be said about resident property in India as every society and owner has his or her own set of restrictions when it comes to finding tenants.
- Optimum Timing: With the Indian economy being poised to grow at 7.3 per cent this and inflation having been reigned in this is the best time to invest in commercial property as businesses too are growing and expanding.
What are the factors that justify the implementation of automated systems in a factory? The two leading factors are improved performance and reduced costs. A general perception is that automation technology is basically designed to replace humans with intelligent machines. Automation, on contrary, is the implementation of latest tools and devices in order to make production processes efficient and improve workplace safety. The modern industrial setup demands a balanced system where machines and humans interact and perform in the most efficient way.
The digital computers and the revolution that they have brought about has changed the characteristics of work, communication, and other human activities. A rapid development in the power and capabilities of industrial computer hardware and software have driven businesses to upgrade or completely replace their outdated machines to meet the future’s needs. The potential economic benefits of automation force public attention to consider the diverse capabilities of automated systems.
It is probably hard to explain the work capabilities of a human mind in technical terms. In a manual production system, operators control the entire operation from start to completion. On the other hand, in a fully automatic system, machines control the entire operation from material handling and production to quality control and monitoring. However, it is not possible to remove operators from the system. Even in a highly sophisticated system, such as spacecraft, operators will perform the duties of supervisors.
What prevents the complete removal of humans from a system are their abilities to be flexible, creative, and adaptable. These traits are essential to deal with unforeseen or unexpected circumstances during a process. Change and adaptability are two major factors that emphasis on the role of technically trained supervisors and managers. Robotic welding, for example, can produce tremendous results but it does need human input and supervision.
Most of the industrial automated systems are dependable and usually perform as advertised. However, it is not advisable to rely entirely on machines as they may fail or behave in an unpredictable way. An over reliance on machines can lead to failure of monitoring. It is not just the operators that concede mistakes. In the case of excessive trust in automated systems leads to blind reliance on automation without realizing its limitations.
The manufacturing industry faces hard time in understanding, developing, and measuring man-machine interaction in order to remain competitive. With the help of necessary human assistance, an automated system can produce dramatic results. Companies should take a balanced approach towards allocating tasks between humans and machines to produce maximum results.
- Energy sectors
- Freight forwarding sector
- Labour hiring
- Lighting or electrical sectors
- Logistics processes
- Packaging sectors
- Telecom sector
- Recycling the wastage
- Providing competitive labour service
- A proper labour pricing structure in an efficient business model
- A range of value added offerings also need to be provide to maintain the seamless production from the staff
- The free access to the online data along with report services3
- It is needed to imply improved strategies that can exceed the expectations
- It is also needed to find the best candidates for servicing and replace the rest with the help of automation
- The labour services need to imply highly tested recruitment methodologies where the self of the labours will be saved and the high calibre candidates will be included.
- At the same time, it is important to apply a competency based testing method to find a competency based recruitment process
- A service-based philosophy is also required to be implemented and the people (labours) need to understand the value of the project they are working at
Importance of financial statement:
In an economy there are mainly two entities:
I. Savings entity and
II. Investment entity.
Individual belongs to the saving entity. Business and Government together form the investment entity. Individual gives productive service and from the productive service individual earns income. Since individual is a risk averse entity, individual would not spend the entire income and accordingly individual would save certain amount.
Business and Government require fund for outlay purpose. The fund would be provided by the individual as individual is having the surplus fund. The fund would be required by the business and government. Funds need to be transferred from the savings unit to funding unit. The formal or informal place though which the fund would be transferred is called financial market.
As mentioned above, the individual would be lending the money to the subsidize units. In a competitive economy, investment units are competing with each other to attract the fund from the lenders. They have to show case their achievement to the prospective lenders so that prospective lenders are attracted towards them. These speculation team adopts several methods for generating interest within the lending community and one such method is the presentation of financial performance of the this team to the prospective lending community. Lending community, by observing the financial prospects, would take decision of lending to an investment unit. Here lies the importance of financial statement for raising fund. Besides, government also wants to know the income level of the investment units so that it can collect taxes and it can check whether the specific business entity is adhering to rules of land. I can say that among several reasons for importance of financial statement, the two most important reasons are as follows:
- To give a proper picture about the state of affairs of the investment unit to the prospective lending community;
- To comply with the statutory rules of the land;
Main objective of investment entity:
After discussing the importance of financial statement, I shall now discuss about the main objective of the investment entity. Once we are clear about the main purpose of investment entity, we shall analyse the financial statement of a specific investment entity. From this analysis, we shall be able to find out whether the investment entity is adhering these main objectives or not.
In modern day the buzzword is “Shareholders’ wealth maximization”. Every investment entity wants to run its business/activity in such a way that would result in the maximization of its shareholders investment. This would result in the more reward of the share holders and shareholders would be inclined to give more money when it is required by the investment entity for further expansion. So it is found out that an investment unit which is maximising shareholders wealth would not find difficulties in attracting new investment when such investment opportunity comes to the investment unit.
When we mention maximization of share holders’ wealth, we try to mean the market price of Company’s share if the investment entity is a non government entity (comprising of private entity and government owned company but not pure government). For government, maximization of shareholders wealth is the maximization of the well being of the population of the country. Hence forth we shall concentrate on our business entity only.
Do you know what people are saying about you in the online space?
Do you check your company’s social mentions?
These questions are daunting for every marketer as identifying and addressing negative reviews and comments can be a big task. According to emarketer.com, 83% of consumers say that their perception about companies are influenced by online reviews and 80% consumers said that negative online comments changed their purchasing decision.
In this article, I have shared 5 tools that will help you monitor what people are saying about your company, products, and staff.
Radian6 is an amazing tool for managing your online reputation in the social media space and to engage with audiences across platforms. If you are a renowned brand and a lot of social media conversations are going on about you and if you would like to measure market sentiments about your brand, then this is an ultimate tool that offers many interesting features.
Though the tool is amazing, I would still not recommend it for a small business considering the cost. But companies that require large-scale monitoring should go for it.
The free trial of the tool provides the below-listed features:
- Excel add-in
- Engagement console and its salesforce chatter support
- Real-time dashboard
- Online social conversation management
Efluencr helps brands manage online reputation by acting as a centralized disaster response management platform. It leverages the power of shared media that empowers friends/family of the brand (employees, distributors, retailers, franchises, etc.) to become digital ambassadors for the brand and help increase the digital share of voice. The tool aggregates and displays selected brand messaging on a self-refreshing interface and allow members to propagate the message on their personal networks with a click of a button. The tool helps in seeing positive sentiment for the brands.
3. Reputation Defender
Whether it is ORM for you or your company, this application has several options available to fit your needs. It specializes in SEO and offers a wide range of SEO practices and help keeps your business’s reputation strong. It is a paid application. The tool offers 6 pricing plans and one custom package option. The application essentially helps you with marketing, reputation management, tracking your popularity and managing your overall online identity.
4. If This Then That (IFTTT)
The tool automates simple online tasks by using one of the most basic principles: if this happens, then do that. IFTTT lets you set up rules (called Applets) for everything from getting the latest weather updates as a text message to automatically sending Instagram photos to Twitter (or any other platform). It has both fun and professional applications. You create an applet by choosing a trigger channel (the “if this happens” part) and an action channel (the “then do that” part).
Mention monitors the web, including the major social media channels, to keep you informed every time somebody mentions your name, brand or target keywords. When Mention spots that somebody is talking about you or your brand, you can instantly see this through one of their apps (Web, Desktop, iPhone or Android). Alternatively, you can get daily summary alerts which showcase the mentions for a particular day. It has three types of plans – Solo, Starter, and Company. They all are paid plans. The tool helps you collaborate with other team members, set real-time alerts, track mentions of your keywords and engage on the go.
Many businesses who use the mystery shopping tool think that it’s just about putting the program in place and see the results flow in. While implementation is a big step in this process, it doesn’t end there. Think of the different updates and optimizations you could make in the program. Considering the same would surely have a large impact on the value of the results you collect from these programs. This is where revisiting your mystery shopping program comes into the picture. Still thinking why? We would give you 3 reasons.
Top Reasons to Frequently Revisit Your Mystery Shopping Program
For those running their mystery shopping programs for quite some time now would know which questions are consistently receiving high scores. While it is a good indicator, don’t you think it might be the time to re-evaluate what you have been measured? When you get similar high scores in the same areas, you should move on to measuring something else. This would help you drive improvements in another area.
2. Shopper Recognition
When same mystery shopping programs are run, again and again, it can create possibilities for the same shoppers to get recognized by the staff. If your staff starts mentioning that they are noticing shoppers at the locations, the results would not be accurate.
Business environment keeps on changing, and hence you need to modify your mystery shopping programs based on the changes. Always revisit your requirements if you intend to get accurate results. If you keep your current requirements, it would lead to changes in your target market or changes to your locations.
It is very important to always stay relevant and also regularly monitor the details of your mystery shops. What might seem like nothing could actually mislead your results and impact the data you collecting. It can make your entire exercise a failure.
Mystery shopping is one great tool to help you spot the areas of improvement and enhance customer experience. Create programs which ask the right questions and at the same time hides the identity of your shoppers to provide you with the most informative and unbiased feedback. It’s time to nail down on possible mistakes and maximizes the benefits of your mystery shopping program with iSN Global Solutions. We offer excellent Mystery Shopping Support Services.
When hosting a social gathering, a marquee tends to be a convenient and affordable option. Instead of picking a local bar to throw a much-awaited party, using a marquee would bring a more elegant touch to the event. Besides, there is a lot to save up on. For instance, the food can be prepared at home instead of spending on professional catering, guests wouldn’t have to worry about a drinking license and best of all, you can customize everything as per your taste. Since it would be away from your home, you don’t have to worry about the mess either.
But before you hire a party marquee, keep the following in mind.
The weather: Even the brightest of days can turn wet and stormy as they end. The unpredictable nature of the weather in many cases can be a bit of a problem when hiring a marquee for a party. A little precaution is a good way to go about it. You could get heaters installed inside the marquee if you expect colder nights or keep umbrellas by the entrance if you expect it might rain.
The space :Make sure that there is enough room to accommodate all the people who arrive at the party. They need to be comfortable while they eat, talk, dance or move around in any way. So, choosing the right size of the marquee is also important.
The power supply: You need to figure out how many power points you may need for lighting or other equipment that is going to be there during the event. You may also need to find out if you need to hire a back up supply. It is wise to be prepared at all times because inappropriate power supply would mean a party without music, heat and light.
Time: You should make your bookings as early as possible if you want to get the best marquee for your party. Earlier bookings when companies have stock means better deals and piece of mind. Any additional features or equipment that might be required should also be taken into account so that you can be sure of their availability on the date of the party.
Insurance: There is always a chance of damage to your equipment or the marquee itself during an event. If you want to save yourself from the hassles of such damage, you should make it a point to talk all about it with the marquee hire company.
Franchise industry is getting supersized in next coming years. At present the industry is overwhelmed with presence of well-known brands in distinctive sectors including food and beverages, entertainment, gym and fitness, jewellery and many more. Surprisingly dealer and distributorship franchise is emerged as one of the unexpected business opportunities which can’t be digested easily. In earlier decades dealer and distributors had played vital role in growth and development of organizations but, in fact, franchise business model has transformed whole scenario. You can find number of organizations engaged in manufacturing, FMCG, and other segments have to depend on channel partners like resellers, dealers, vendors and distributors to sell products and service to the end consumers.
Both distributor and dealer have played vital role in maintaining smooth relationship between manufacturers and customers. They can enhance company’s product value by reaching maximum consumers in short span of time. According to CEOs of famous brands distribution channel should be effective and most valuable and integral part of operational activities. For example, any organization operating in FMCG industry has specific dealer and distributor’s in particular geographical location. They are responsible for redistribution of products in assigned territory. The overall concept behind example is to explain how these stakeholders are crucial as organizations cannot handle all business activities single handed, they need channel partners to operate smoothly.
Advantage of distribution channel
A well designed and structured distribution channel can be a big advantage for the companies that didn’t directly deal with consumers. Over the past few years industrial development around the globe encourage new comers to invest in highly ambitious projects. It goes without saying that technology hitches the wagon to the moon similarly organizations have also utilized technology up to the maximum extent to produce innovative and unique products. Further you may have noticed that while expanding product range franchising business model is effective. Thus dealer and distributor franchise is come into existence.
Franchise industry is worth INR 1600 crore by 2017. This vast development encourages several organizations to explore organized and unorganized market share of various industry segments. But without efficient channel partners this cannot possible. Many organizations in franchise industry have designed channel partners programs to meet their demands. In a recent study, it is observed that any organization whether small, medium or large can’t survive if they don’t build strong relationships with dealers and distributors. To add more, in present scenario you can bet on various opportunities that can give you high returns.
The action of collecting, delineating, learning and distributing intelligence related to competitors, products, customers and any other side of the business environment required for the managerial and strategic decision-making process is known as Competitive intelligence. CI also includes improving the competitiveness of the organization relative to its complete environment and stakeholders. Let’s discuss the three key approaches to Competitive intelligence.
Three Key Approaches To Competitive Intelligence
1. Tactical intelligence
Tactical intelligence is usually carried out for a smaller and operational scale. It does not focus much on being productive. Some examples of tactical issues include Competitors’ plans for modifying how they distinguish their products, policies, and terms of sales from yours. Middle-level sales and marketing managers who wish to know how to be a winner in the crowd are the key users of this approach.
2. Strategic Intelligence
This approach is suitable when businesses need to gain an understanding of the competitor’s current strategies, future goals, and capabilities. Intelligence related to a business partner, customers, and suppliers are always of some deliberate value; and strategic intelligence gives you just that.
3. Counter Intelligence
Counter intelligence encompasses protecting company secrets. The concept is easy to understand, just like you want to know your competitors, they would want to know you. Normally, this area of efforts includes information technology, security and firing and hiring strategies.
Competitive intelligence is where competition is understood and judged. It is immensely important to understand and learn what’s happening in the world outside your business, as it helps the business to be as competitive as possible. Competitive Intelligence empowers you to anticipate and face challenges head on.
At iSN we have experts who can deliver comprehensive information about industry that will help your business grow by leaps and bounds. We conduct comprehensive updates, synthesize industry content and compose blog posts. Our in-house editorial team delivers business insight by compiling, analyzing business data.
iSN Global Solutions Sales Support Services include Online Research, we can analyze how a competition is in the market, give our expert views as to how the competition can be minimized or eliminated and at the end help you generate better profits.