Most people advocate building business to build wealth, I advocate creating value. Don’t build business with the mindset of creating wealth, of course wealth is important, instead build a business with an underlined value mantra to ensure and promote your s.e.p. i.e. sustainability, equitability and profitability.
Sustainability will ensure a continuous and a consistent organizational structure structured towards creating value for the long time, equitability will make you responsible to your employees and customers while profitability will ensure the promotion and enhancement of your s.e. (sustainability and equitability).
Business Development Blog
Thursday, November 7, 2013
DEVELOPING BUSINESS PRODUCTS ; OBJECTIVE BASED PERSPECTIVE
To develop a product that will effectively meet market needs. You’d have to;
“Re-evaluate your objectives”
Your objective is what you set out to do i.e. needs or problems you intend solving. Comprehensively, your objective is that centralized aim which is a clear indication of what will be achieved as a result of your presence in the market place.
Thus, in developing a product from an objective perspective, you’d have to clarify both the primary and secondary reason why people need your service(s). for instance, the primary reason people go over to a barbing saloon is to get rid of their hair while the secondary reason may include; wanting to look good, having an healthy and sensible appearance or wanting to spend their evening in a cool and serene environment with lots of guys to chat with while at the same time getting rid of their hair.
Also the primary reason you go over to MacDonald’s is to fill up your belly but you wouldn’t go there if their outlets is poorly organized coupled with poor food quality. Therefore, your primary aim is wanting to be filled while your secondary aim includes; excellent and good quality food served in an organized and serene environment. Right?
Thus in developing a product that will have sustained influence in the marketplace, you’d have to list and clarify both the primary and secondary reason people would need your services. This, will help in clarifying lots of (product development) issues and help in designing product that will have sustained influence in the marketplace
“Re-evaluate your objectives”
Your objective is what you set out to do i.e. needs or problems you intend solving. Comprehensively, your objective is that centralized aim which is a clear indication of what will be achieved as a result of your presence in the market place.
Thus, in developing a product from an objective perspective, you’d have to clarify both the primary and secondary reason why people need your service(s). for instance, the primary reason people go over to a barbing saloon is to get rid of their hair while the secondary reason may include; wanting to look good, having an healthy and sensible appearance or wanting to spend their evening in a cool and serene environment with lots of guys to chat with while at the same time getting rid of their hair.
Also the primary reason you go over to MacDonald’s is to fill up your belly but you wouldn’t go there if their outlets is poorly organized coupled with poor food quality. Therefore, your primary aim is wanting to be filled while your secondary aim includes; excellent and good quality food served in an organized and serene environment. Right?
Thus in developing a product that will have sustained influence in the marketplace, you’d have to list and clarify both the primary and secondary reason people would need your services. This, will help in clarifying lots of (product development) issues and help in designing product that will have sustained influence in the marketplace
GLO-LOCAL BUSINESS OPERATION; DEVELOPING A GLOBAL BUSINESS FROM A LOCAL PERSPECTIVE
Building a successful organization requires a detail and effective analysis of the environmental conditioning in which your firm is operating in. A lot of businesses have declared bankruptcy because they never take into cognizance, the social and macro-economic conditioning of their operating environment.
For instance, in Africa, most global and even local conglomerates are shutting down their operations basically because they have not been able to effectively modify their operations to fit into the local conditioning system inherent within the continent. You see, that a venture succeeded in Asia does not necessarily mean it will be successful in Africa and a success witnessed in South Africa does not guarantee a success in Nigeria. Why? You’d ask, it is basically because of the differences in the operating environment.
A story was told of recent, about a western food company who opened a food store in a West African country using the same delicacy used in their home country. The problem was that while Africans prefer pepper, countries in the western world prefer other peppermint. The non inclusion of this, was responsible for their failure.
This company would still have been able to record outstanding success if they have been able to understand the socio-cultural condition of their operating environment.
Also, there is the need to understand that, before an idea or business venture can thrive in a particular operating environment, the required “system” needed for the success of such idea must have been built. It is this system that will serve as foundational basis upon which the success of such an idea or venture will rest.
Thus, to succeed in a particular business environment, a business leader must be able to;
a. Understand the social and economic conditioning of their operating environment.
b. Investigate and discover the socio-economic structure and system of that environment.
c. Create and design business operation to fit into the socio-economic conditioning of that area leveraging on the available local structure to promote the advancement of your enterprise.
Also, You must understand the futuristic dynamism of social structure and create a flexible business and organizational structure that will not only successfully incorporate futuristic change but will also serve as a change catalyst in developing existing local structure and system with a view of fast-tracking local and communal development.
Shallom.
For instance, in Africa, most global and even local conglomerates are shutting down their operations basically because they have not been able to effectively modify their operations to fit into the local conditioning system inherent within the continent. You see, that a venture succeeded in Asia does not necessarily mean it will be successful in Africa and a success witnessed in South Africa does not guarantee a success in Nigeria. Why? You’d ask, it is basically because of the differences in the operating environment.
A story was told of recent, about a western food company who opened a food store in a West African country using the same delicacy used in their home country. The problem was that while Africans prefer pepper, countries in the western world prefer other peppermint. The non inclusion of this, was responsible for their failure.
This company would still have been able to record outstanding success if they have been able to understand the socio-cultural condition of their operating environment.
Also, there is the need to understand that, before an idea or business venture can thrive in a particular operating environment, the required “system” needed for the success of such idea must have been built. It is this system that will serve as foundational basis upon which the success of such an idea or venture will rest.
Thus, to succeed in a particular business environment, a business leader must be able to;
a. Understand the social and economic conditioning of their operating environment.
b. Investigate and discover the socio-economic structure and system of that environment.
c. Create and design business operation to fit into the socio-economic conditioning of that area leveraging on the available local structure to promote the advancement of your enterprise.
Also, You must understand the futuristic dynamism of social structure and create a flexible business and organizational structure that will not only successfully incorporate futuristic change but will also serve as a change catalyst in developing existing local structure and system with a view of fast-tracking local and communal development.
Shallom.
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