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1. How to Control Interruptions
How much time do you lose each day to interruptions? Thirty minutes? An hour? Two hours? Are most or these interruptions of value? When you are interrupted, do you find that when you go back to what you were working on it takes almost as long to get back to where you were as it took to do the work originally? If so, all the work you did originally and all the time you invested are wasted. If you are one of the many people who are constantly interrupted, you’ll benefit enormously when you use the ideas that follow...

2. What Does It Mean That an Enterprise Is Effective
Fundamentally, an enterprise is effective when it is able to reach its goals and satisfy its objectives. Its goals and objectives must be realistic and reachable and in line with the enterprise’s purpose. From more practical perspectives and in detail, for an enterprise to be effective requires that its functions be executed efficiently in close support of its intent and desired direction. It also requires that the enterprise innovate and renew itself from top to bottom. A basic goal of any enterprise &...

3. Comparing Product Oriented and Customer Centric Organizations
The design and implementation of a customer-oriented strategy, having as a central concept the Customer Lifetime Value (CLV), represents a very good example of a complex operation which necessitates a radical reorganization of the company. Such reorganization is not necessarily in terms of physical structure, but rather in terms of philosophy and process management. In a product-oriented organization, the firm studies the market and its own resources, attempting to create a better marketing-mix offer than the competitors...

4. How to Prepare a good Business Budget
Sales Planning Consider the historical patterns of behavior for your customers, your markets, your products, and your competitors. The success of your company depends on the success of your customers. Company sales will be affected by the economy. Identify how future economic events will affect your business. This includes looking at consumer outlook, inflation, taxes, political events, and the business cycle. Ask the sales organization for its input. The salespeople know the customers ...

5. Basic strategies of Business Planning
There are a number of reasons why planning is necessary: The future is not an extension of the past. The rate of change in the marketplace will continue to accelerate. Technological progress is taking place at an extraordinary rate. Regulatory issues require constant attention. Population changes, demographics, and geographic shifts require constant adjustment of marketing strategies. Global competition is common in almost every industry. B...

6. How to Sell Solutions at the Highest Level
Sales take place at different levels. Some sales require what I call the clerk approach. If I’m buying a toothbrush and the store clerk started asking about how often and how long I brush, I’d run. I just need a toothbrush. Some sales require the salesperson approach. If I’m buying a computer, I need to buy one that will help me with the kind of work I do. Knowing the number of gigahertz and gigabytes doesn’t help me much, except to assure me that it’s big and fast. If I am making strat...

7. Strategic Issues and Action Plans for Business Success
There is a lot of talk these days about how this period of prosperity cannot last forever. This is certainly a true statement, because nothing lasts forever. The fact is that many public companies have already begun to report reduced earnings. There are many explanations for this. 1. Companies that sell to Asia or Europe have already been experiencing a recession. Those with heavy investments in the Far East have certainly been having severe problems for the past few years. The Japanese stock market is do...

8. Estimating the Cost and Risk of Capital for Individual Projects
Although it is intuitively clear that riskier projects have a higher cost of capital, it is difficult to estimate project risk. First, note that three separate and distinct types of risk can be identified: 1. Stand-alone risk is the project’s risk disregarding the fact that it is but one asset within the firm’s portfolio of assets and that the firm is but one stock in a typical investor’s portfolio of stocks. Stand-alone risk is measured by the variability of the project’s expected r...

9. Seven Questions in Strategic Planning
There are seven key questions in strategic planning, both for you and for your business. These are questions that you need to ask and answer over and over, throughout your career. Sometimes a new answer to any of these questions can dramatically change the direction of your business and your life. Insights that you get from continually asking these questions can lead you to establish new goals and new focal points for your future. Define Your Business or Career Clearly The first and most important question is,...