Finance Managing Director Team Building For Employees

Work-life balance as a Finance Managing Director is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Finance Managing Director from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Benefits of Web-Based Supplier Relationship Management Systems

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Stress Management For Employees

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

The absolute most important aspect of customer retention is culture. Culture is the way things are thought about, talked about, and done. If TRUST is the basis for any long-term relationship, then a culture of trust is essential to customer retention. Two great examples are Kimpton - a boutique hotel chain, and Cisco Systems.

Kimpton has been named the number one place to work in 9 of the 17 cities where it operates. Market Metrix Hospitality Index or MMHI, has awarded top scores to Kimpton over the past few years - their scored have exceeded not only their direct competitors - but also brands such as Ritz Carlton, St Regis, and Four Seasons. Kimpton has achieved this because of their strong customer-centric culture of really knowing their customers, anticipating customers' needs with great precision, and empowering employees to meet customer expectations.

Another good example of customer-centric culture is Cisco Systems. They are proactive about solutions for every stage of the customer's lifecycle, and on their basic product web pages you can readily find contact information for customer service and tech support ... whereas many companies require customers to go through many clicks to get their contact information. Cisco has made a concerted effort to maximize their customer self-service features, so that their agents can focus on more high-value assistance, from the customers' perspective.

Walking the Talk
How many companies walk the talk by assigning an executive sponsor to customer retention? At Symantec, the Vice President of Customer Experience posts the results of their latest feedback from customers, as well as what they're doing to address that feedback. This can be one of the most powerful ways to keep your customers talking to you. Show that you really read and digest their feedback, and show that you have followed their advice in making improvements.

By closing the loop with customers, you can re-set their perceptions, so they don't feel compelled to carry around negative baggage of past experiences. They can re-set their perceptions to better meet your current realities of improved policies, business processes, and customer experiences.

Symantec takes this a step further with a feedback form on their website - enabling anyone anytime to either vent their frustrations or express appreciation for a job well done.

Two-way conversation on Twitter is best illustrated by Comcast - Frank Eliason's is director of digital care at Comcast and his profile includes his personal website and blog - as he sees customer frustrations expressed, he reaches out to them to find solutions, and in the process, many disillusioned customers have migrated to fans not only of Comcast, but to a friendship with Frank.

Going Beyond the Surface
Over-focus on customer acquisition teaches customers to switch brands. For example, the brand switching rate, called customer churn, is 40% for the mobile phone industry, compared to a 7% customer churn rate for the insurance and financial services industries. Some good advice is to quit training your customers to switch - get off the churn bandwagon.

Let's take a look at a mobile phone company that has pursued a customer retention strategy whereas its peers in the industry were focused primarily on customer acquisition. The mobile phone company Orange is owned by France Telecom, and it's a great example of departing from industry norms with a unique experiment on customer service as a brand differentiator - somewhat similar to the Saturn brand of General Motors.

Orange has pursued a strategy of customer-centricity by investing heavily in their agents' knowledge, customer communication and responsiveness. Customer service agents take a 1-month course before interacting with customers, and for their first several weeks interfacing with customers, the work environment has a high ratio of supervisors.

This is accompanied by ongoing formal quality assurance with an emphasis on precision monitoring through speech analytics. The speech analytics tool has enabled Orange to identify at-risk customers, and these customers are reached out to within 24 hours, to turn around their sentiment about the brand, and migrate them from at-risk status toward satisfied status.

80% of the customers identified as at-risk through the speech analytics were not picked up as at-risk through the agents nor other methods. The results are 20% improvement in 1st call resolution, 15% reduction in repeat calls, and 20% increase in satisfaction with customer service.

Trust is the Foundation
The lesson here is that customer retention may be best supported by operational integrity. After all, when you think about your personal relationships as well as your business relationships, you tend to stick with the folks that are really good at showing they sincerely care about you, and doing what they say they're going to do.

It boils down to trust. When you dig down to the reasons why people leave a brand for a competitor's solution, it's not so much about the competitors' offers and brand affinity -- but, rather, the reasons people switch brands is much more about product, service and value disappointments. Companies make huge investments in communicating their value proposition. Logic says a corresponding investment - at least in energy and scrutiny - should be made in making sure their value proposition is lived up to. TRUST is the best way to retain customers.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Vendor Risk Management

Why Customer Centricity Is Important

Empowering employees like Finance Managing Director to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

It's easy to be ethnocentric about customer-centricity! Enthnocentrism is the tendency to look at the world primarily from the perspective of one's own culture. How often do we view customer experience, loyalty, word-of-mouth marketing, and customer care from the perspective of our own company culture? I'd venture to say "too often"!

In the name of customer advocacy, we tend to have a number of exciting customer relationship-building programs in place: advisory boards, user groups, reference programs, satisfaction surveys, experiential marketing, personalized customer communications, and much more. These are indeed useful efforts -- but their usefulness is exponential when we put aside ethnocentrism for true customer-centrism. The key is in examining our motives.

Ethnocentric Customer Advocacy

Inside-out advocacy seeks to build customer relationships through these primary motives: design new products, obtain new customers, up-sell and cross-sell current customers, determine employee bonuses, and so forth. These motivations are ethnocentric because they are essentially self-serving. Sure, the customer may benefit along the way, but the focus is foremost on company revenue. With this focus, the benefits to customers are short-term at best. And the company's outreach efforts must be constant to keep the wheel moving.

True Customer-centric Customer Advocacy

Outside-in advocacy seeks to build customer relationships through these primary motives: make it easier and nicer for customers to get and use the solutions we offer. With those primary motives securely in place, secondary motives may include: design new products, obtain new customers, up-sell and cross-sell current customers, determine employee bonuses, and so forth. The company will certainly benefit along the way, but the focus is foremost on customers' ease. With this focus, the benefits to customers are long-term and self-sustaining. By making it easier and nicer for customers to get and use the solutions we offer, our ambivalent customers are more likely to migrate to brand enthusiasts, positive word-of-mouth accelerates, and both revenue and profit growth are sustainable in an almost auto-pilot mode, relative to the ethnocentric motives scenario.

Waste of Inward Focus

An executive once told me he'd be glad if his company had only manufacturing and sales functions -- just the bare minimum to make and sell solutions for customers. He was really commenting on the excessive inward focus and waste that tends to occur in companies. Certainly, customers expect additional services around the solutions they buy: safety, quality, financing, upgrades and innovations, and so on. And that's why companies exist -- to make and sell whole solutions for customers. After all, it's the customers who make our payroll dollars possible! And truly customer-centric companies keep that thought at the forefront, with pure primary motives to make it easier and nicer for customers to get the solutions they need.

Customer Experience Management

Customer experience management (CEM) is an essential methodology for being a truly customer-centric firm. CEM brings an outside-in focus and pure motives to all groups within the firm. It's the key to creating strong customer perceived differentiation from the competition, as truly customer-centric customer advocacy encompasses the customer's full experience spectrum. CEM makes it easier and nicer for customers to get and use solutions.

Ethnocentric customer-centricity is easy to fall into! Executive champions must be on the alert to prevent it. Outside-in motives prevent waste and and generate big results. The usefulness of any customer relationship building program is exponential when we put aside ethnocentrism for true customer-centrism.

When a Finance Managing Director spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Finance AVP Job Satisfaction

Work-life balance as a Finance AVP is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Finance AVP from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Consumer Motivation

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

What Is Client Eccentricity

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Even though the traditional mom and pop retail shops have been getting a lot of attention in recent times, it is the trend of Specialty Stores [Modern Trade Retail Chains] that is really taking off. The Specialty Stores promise big business to the FMCG companies, all thanks to the ever changing attitude of majority of consumers who prefer to shop from specialized stores like Wal-Mart, Spencers, Reliance Retail, Big Bazaar and many more when compared to the stand-alone stores.

Attesting to the fact that consumers have changed their buying perspectives does not make things easier for the FMCG companies. This focus shift has also made the consumer behavior more volatile. An attractive TVC, schemes that work on a buy some get some free model, discounts offered, or a fall in price is enough for the consumer to choose a brand. In a situation as fragile and fickle as this, tracking the sales till the consumption level is very critical for strategic decision making.

Why Specialty Stores are capturing all the Attention of FMCG Industry?
Specialty Stores are the bulk buyers of fast moving & over-the-counter (OTC) products. With thousands of prospective consumers visiting these stores daily, and the evident fact that such products are better exposed and have higher probability of getting sold in small time-frame due to very competitive cost, Specialty Stores have emerged as the hub of attention by sales and marketing strategists of FMCG companies.

Leveraging IT is not an alien concept to majority of the FMCG players, but that often stops till the National Distributors, Stock Keeping Units, or at maximum, the distributor / micro distributor level. To track the ever-changing consumer buying behavior, it is essential to traverse down till the Tertiary level or till a level when the product reaches the hands of the consumers.

In a hypothetical example where the manufacturer of a healthcare product like a disinfectant has a robust method in place, may be a top-notch ERP, to track its Primary product movement and product sale from manufacturer to C & F agent and distributor simultaneously. Some companies also track the secondary level sales from distributor to the sub-distributors; but the last and the most crucial level loses its significance due to multiple challenges in data collection and touch-points. With little knowledge on how consumers are behaving to this disinfectant, the continuous production of the product can come out as a major loss to the manufacturer.

Tracking Sales at Tertiary Level hence becomes one of the key criterions in analyzing:

  • Consumer buying behavior
  • Production Planning
  • Strategies in the distribution channels & route plan
  • Limitations in consumer knowledge that influence decisions
  • Product Packaging plan
  • How consumer motivation and product development decision strategies co-relate
  • How manufacturers can adapt and improve their marketing campaigns and strategies to reach the consumer more effectively

Tracking the sales manually at any given level is not possible. Unlike the sale of home appliances or electronic items that is relatively slow, the FMCG products sell quickly and in great numbers. They also have varied product categories & SKUs which make it impossible for the FMCG manufacturer to tap the data. Automating the process becomes a mandate; with companies like CalvinKare, Britannia, India Pistons, etc. already cashing on this IT advancement.

Tertiary Sales is a great criteria for knowing the consumer buying behavior, which inadvertently also acts as product testimonial. Drawing inference from the same example of a disinfectant, a sudden drop in its sale at the tertiary level will help you analyze the reasons- and when you know the "reasons", there is nothing stopping you from improving your sales.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Understanding Consumers and Market Segments

Top 3 Causes Of Job Satisfaction

Empowering employees like Finance AVP to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

What Does it Mean to be Customer-centric?

To have the customer's best interests as the focus of your attention - not to be pre-occupied in your own interests at the customer's expense.

To do this, you need to:

(1) Really know the customer in order to anticipate their best interests.

(2) Differentiate between primary and secondary motives.

Customer-Centric Primary Motives:

Making it easier and nicer for the customer to get and use solutions.

Self-Centric Secondary Motives:

Building revenue and profit through new product development, word-of-mouth, etc.

There's a myth that talking often to your customers (sales, service, surveys, etc.) means you're customer-focused. However, customer-focus goes beyond lip-service to the primary motives that drive your behaviors.

Gap in Desired Versus Actual Customer-Centricity

Half of companies say they're extremely customer-centric, but when customers of those companies were asked, only a tenth of them said those companies were extremely customer-centric. Why is there such a huge gap? When you think about who makes business processes and policies within a company, it's usually the workforce that doesn't interact directly with customers. Three-fourths of companies say that customer experience is not well defined and communicated within their company. Half of companies say they have fair or little knowledge of customer demographics, behaviors, psychographics, and transactional histories. Less than a tenth of companies say they have excellent knowledge of customers. Three-fourths of companies say their employees aren't well versed in how to delight customers.

Ways to Really Know the Customer

This represents an opportunity for those who work directly with customers to share valuable stories and facts with the rest of the company, to help the entire workforce live up to their brand promises. We usually think of marketing, sales, and customer service as outward-facing, with only outbound deliverables.

Yet, if a company is customer-centric, then concentric circles around the customer mean that marketing, service and sales are the natural conduit for helping the rest of the company - engineering, finance, human resources, production, operations, technology, safety, accounting, etc. - understand their impact on customer experience and customer profitability. Three-fourths of marketing groups say they don't influence the customer service function ... so you can imagine how much influence marketing has on the rest of the company!

Customer-facing professionals can sensitize the whole company toward the customer's plight and priorities:

(1) Make sure customer stories reflect the customer experience spectrum.

(2) Use creative ways to share customer stories:

- Intranet
- Internal newsletters
- Bulletin boards & posters
- Lobbies, break rooms, war rooms, conference rooms, cafeteria
- Staff meetings

(3) Involve organization in learning and adapting their mindsets - this is the organization-wide journey guiding everyone on managing their personal impact on customer experience, called internal branding

Return on Investment

Your company makes huge efforts and investments in communicating your value proposition, which is the brand promise that shapes customer expectations. A corresponding investment - at least in energy and scrutiny - makes sense for ensuring the brand promise is indeed delivered. Customer satisfaction occurs when the customer's experience meets or exceeds their expectations. Trust - being true to the brand promise - is biggest the biggest factor in building a customer-centric culture that maximizes customer profitability.

Note: statistics from CMO Council Customer Affinity study and Peppers & Rogers Customer Retention presentation.

When a Finance AVP spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Singapore Executives Forum Customer Centric Strategy

Being a member of Executives Forum you would know employee job satisfaction is one of the key goals of all successful companies. Happy employees are more loyal to the company and its vision. They go the extra mile to achieve company goals.

Dissatisfied workers experience lower productivity in the workplace, poorer performance, more job stress, and higher turnover rates. Moreover, low job satisfaction can result in low morale and low loyalty to the company itself and to any outside Executives Forum.

Job satisfaction is defined as the extent to which employees feel self-motivated and satisfied with their job. Employee satisfaction covers the basic concerns and needs of employees, and is essential to the success of any business. Job satisfaction is a combination of intrinsic (kind of work) and extrinsic (working condition) factors. Salary, promotion, work-life balance, recognition and appraisals are important factors to be considered in employee satisfaction.

Customer Lifetime Value Machine Learning

Make strategic decisions to create a culture of engagement and satisfaction. Engaged employees have a strong sense of purpose and leadership. They add value by pushing limits, driving growth and innovation. Employee satisfaction is one of the key metric that can help determine overall health of an organization, which is why many organizations employ regular surveys to measure and track employee satisfaction over time. As a Executives Forum you would understand that this is one way to assess whether your team is happy and engaged at work. It is critical for employee retention. Sadly, CulturalManagement has observed that this has decreased significantly over the past twenty years.

At CulturalManagement we guide you on how to easily collect and understand employee feedback to create an action plan that works. Few ways a company can improve employee job satisfaction:

  • Provide a positive working environment.
  • Rewards and recognition.
  • Make work-life balance a priority.
  • Develop skills and potential of workforce.
  • Create open and honest communication channels.

Motivation can be defined in numerous ways, but there are two basic definitions or descriptions. It can be defined as the main reason or reasons that individuals partake in a certain behavior, specifically human behavior pursuant to the study of psychology or neuropsychology. It can also be defined as the driving force that initiates and drives an individual's behavior. It is the internal energy that propels us to achieve our goals. Typically, it is considered to be a dynamic state of mind not concerned with personality.

There are three aspects of human behavior that motivation is based and founded in:

1. arousal of behavior
2. direction of behavior
3. persistence of behavior

Arousal of behavior relates to a specific thing that activates behavior whereas direction of behavior relates to what is responsible for directing the behavior. Persistence of behavior relates to how the behavior is sustained.

What drives an individual to be successful is referred to as motive. Usually, all motives fall into one of three categories and are considered to be physiological or psychological in nature:

1. homeostatic motives - hunger, respiration, thirst, etc.

2. nonhomeostatic motives - curiosity about the environment, seeking shelter, etc.

3. learned or social motives - achievement, approval, power, social affiliation, etc

In any endeavor that an individual undertakes, motivation (or the lack thereof) is the key element behind the success or failure of the endeavor. It plays a key role in the workplace where the effective performance of an employee is concerned. Management or supervisory personnel have a direct impact and play a significant role in employee motivation in that they employ different motivational techniques to raise productivity levels. It also follows that this has a direct effect on the cooperation levels between the employer and the employee.

Motivation can also be classified as

1. negative or positive
2. obvious or subtle
3. intangible or tangible

Education or learning is also interrelated with motivation and instructors will oftentimes employ motivational techniques to get their students to learn. It can benefit the student by making them more competent as well as encouraging confidence and the ability to solve problems.

Self-motivation has also been classified into two different types:

1. Extrinsic - generated by external factors

2. Intrinsic - generated by internal sensations and is longer-lasting than extrinsic

Self-motivation is considered to be intrinsic in nature, and originates from an individual's internal drives. It is the basis for overcoming obstacles in the path of achieving one's goals. Additionally, certain external factors are responsible for driving a person into undertaking a new project or to move in a positive direction. Characteristically, self-motivation is comprised of three factors:

1. beliefs
2. desires
3. values

Since an individual cannot rely on others for motivation, self-motivation has to come from within. It plays a key role wherein the individual gathers the courage and strength to achieve certain goals, and is essential for developing new undertakings or making a positive change in one's lifestyle. Training programs have been proven to be the best way to educate oneself in order to improve motivation and self-motivation.

The Top 10 Proven Ways To Boost Employee Job Satisfaction

Motivation can be defined in numerous ways, but there are two basic definitions or descriptions. It can be defined as the main reason or reasons that individuals partake in a certain behavior, specifically human behavior pursuant to the study of psychology or neuropsychology. It can also be defined as the driving force that initiates and drives an individual's behavior. It is the internal energy that propels us to achieve our goals. Typically, it is considered to be a dynamic state of mind not concerned with personality.

There are three aspects of human behavior that motivation is based and founded in:

1. arousal of behavior
2. direction of behavior
3. persistence of behavior

Arousal of behavior relates to a specific thing that activates behavior whereas direction of behavior relates to what is responsible for directing the behavior. Persistence of behavior relates to how the behavior is sustained.

What drives an individual to be successful is referred to as motive. Usually, all motives fall into one of three categories and are considered to be physiological or psychological in nature:

1. homeostatic motives - hunger, respiration, thirst, etc.

2. nonhomeostatic motives - curiosity about the environment, seeking shelter, etc.

3. learned or social motives - achievement, approval, power, social affiliation, etc

In any endeavor that an individual undertakes, motivation (or the lack thereof) is the key element behind the success or failure of the endeavor. It plays a key role in the workplace where the effective performance of an employee is concerned. Management or supervisory personnel have a direct impact and play a significant role in employee motivation in that they employ different motivational techniques to raise productivity levels. It also follows that this has a direct effect on the cooperation levels between the employer and the employee.

Motivation can also be classified as

1. negative or positive
2. obvious or subtle
3. intangible or tangible

Education or learning is also interrelated with motivation and instructors will oftentimes employ motivational techniques to get their students to learn. It can benefit the student by making them more competent as well as encouraging confidence and the ability to solve problems.

Self-motivation has also been classified into two different types:

1. Extrinsic - generated by external factors

2. Intrinsic - generated by internal sensations and is longer-lasting than extrinsic

Self-motivation is considered to be intrinsic in nature, and originates from an individual's internal drives. It is the basis for overcoming obstacles in the path of achieving one's goals. Additionally, certain external factors are responsible for driving a person into undertaking a new project or to move in a positive direction. Characteristically, self-motivation is comprised of three factors:

1. beliefs
2. desires
3. values

Since an individual cannot rely on others for motivation, self-motivation has to come from within. It plays a key role wherein the individual gathers the courage and strength to achieve certain goals, and is essential for developing new undertakings or making a positive change in one's lifestyle. Training programs have been proven to be the best way to educate oneself in order to improve motivation and self-motivation.

Continue reading “Singapore Executives Forum Customer Centric Strategy”

Chief Marketing Offer Consumer Motivation

Work-life balance as a Chief Marketing Offer is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Chief Marketing Offer from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Vendor Management

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Why Customer Centricity Is Important

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Look at how times have changed. There was a time when the purpose of having a contract between vendor and a vendee was simply to establish the terms of their relationship and the manner by which prospective business relationship is to be conducted. Remember the old days of a deal with just a handshake? How about "my word is my bond"? Those days are long gone and one must protect the company from any shady deals.

As soon as the terms of the contract are spelled out which are simple, concise and straightforward, you are ready to affix your signature and seal the agreement. That is basically contract management in a nutshell.

However, if you are talking of software license agreements, things will be quite different from your conventional contracts and the application of the principles related to vendor management will have a different complexion. If you are availing of one of these software packages which are governed by license agreements then it is essential that you spend a moment to study the fine prints of the terms and conditions as it is important that you understand every detail of its provision. This is how the principles of contract management are applied under agreements involving the purchase of software packages.

An effective contract management involving software packages will require you to focus on the prices and other legal provisions that are included in the agreement. The price is usually cited in the legal disclaimers about system performance and quality. This section of the contract is an essential component and it is important that you analyze if you are satisfied would this kind of relationship as what is indicated is what you will receive and nothing more. In your approach for relevant principles and techniques of vendor management, it is important that you are aware of what the vendor commits to provide you and the legal remedies available to you in case of disputes and disagreements.

It is imperative that you consider all provisions including those outside the contract price and major legal issues. If you feel that the contract presented by a vendor seems to be disadvantageous or deficient in substance in protecting your interest, the problem is not in the contract. There are some things that you might have missed during the negotiation that preceded the contract. Most of us have the tendency of focusing our attention on the more obvious aspects of the transaction and leave everything to the lawyer. In the end, we find ourselves with a contract which does not meet our expectation. In most cases, what we have as a contract is deficient or lacking in provisions on compliance to schedule, performance of the vendor and cost control.

So, what are the important things that you have to tackle in a negotiation? Obviously, you will have to agree on the contract price of the software package. Over and beyond the price consideration and other related issues, you have to focus extensively on the functionality and support services that you want the vendor to provide under the proposed agreement. You should remember that what is being sold is a collection of ideas and not a tangible and physical product. Its importance is determined by product's ability in providing the functionality that you need within a specified time frame and with the level of quality that you can not achieve using your existing manpower and capabilities.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Relationship Versus Vendor Management

Flexible Jobs Can Make Work-life Balance Worse

Empowering employees like Chief Marketing Offer to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

A recipe for successful outsourcing
Success in business relies as much on relationship management as anything, and when it comes to outsourcing this axiom certainly holds. The best outsourced team in the world cannot deliver excellence if projects are "thrown over the wall" with little communication or understanding between the parties.

You would think those of us in the IT world would know this by now.
After all, managing outsourced relationships has been a topic of articles, blogs and conversation since the nineties. Relationships are clearly NOT easy, which explains why everyone from Dear Abby to this newsletter keeps talking about how to handle them.

People naturally develop and work through relationships, but organizations seem to lose that ability. Between planning, flow charts, deadlines, etc., we forget that every project comes down to the people involved. And people are, well -- human. They need to be engaged and involved in their work. They need to feel like a vital part of the team and solution.

Bruce A. Stewart, management advisor and former columnist for Computerworld, wrote that: "Most companies put little time or effort into these (outsourced) relationships..." Yet outsourcing continues to grow, and, Stewart says, "Learning how to deal with the changes outsourcing brings can actually work in our favor." Stewart's article, reprinted on CIO.com, goes on to identify ways to optimize outsourcing relationships.

Our experience has shown a recipe for outsourcing success that closely parallels Stewart's suggestions, and goes a bit further by incorporating accountability as well.

Tips for Successful Outsourcing

  1. Formalize the outsourcing relationship - Create an organizational chart that shows who reports to whom within the scope of the relationship, and how teams and people relate to each other. Use Skype or other methods to meet regularly, share ideas and celebrate successes. Develop contacts deep into each organization so that cultural understanding is not isolated to just a few people.
  2. Commit to the relationship - Stewart rightly points out that commitment can only come with trust, but he also notes that, "... a failure to commit shows up as a lack of success--on both sides of the table." He suggests that companies determine upfront that they are committed to establishing trust, and work from there. What you want, ultimately, is an outsourced team that understands company objectives and can contribute initiatives and knowledge.
  3. Insist on accountability -- on both sides of the relationship - When given ownership of a project, people take responsibility for it.
  4. And with responsibility comes accountability. High-performing teams set guidelines and deadlines, and hold their members accountable to these. When practiced this way, accountability becomes an integral and positive part of team culture - not something that has to be constantly enforced from the top.
  5. Focus on the long-term - There will always be short-term obstacles and set-backs. A good outsourcing relationship can survive these when internal and external team members are committed to the same long-term goals and expectations. As long as these continue to evolve together, the outsourcing team remains valuable, bringing its own history and knowledge that contribute to the bottom line.

When a Chief Marketing Offer spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

CIO Jurong East Customer Centric Selling

Work-life balance as a CIO Jurong East is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of CIO Jurong East from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Benefits of Web-Based Supplier Relationship Management Systems

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Vendor Relationship Management Checklist

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

What Does it Mean to be Customer-centric?

To have the customer's best interests as the focus of your attention - not to be pre-occupied in your own interests at the customer's expense.

To do this, you need to:

(1) Really know the customer in order to anticipate their best interests.

(2) Differentiate between primary and secondary motives.

Customer-Centric Primary Motives:

Making it easier and nicer for the customer to get and use solutions.

Self-Centric Secondary Motives:

Building revenue and profit through new product development, word-of-mouth, etc.

There's a myth that talking often to your customers (sales, service, surveys, etc.) means you're customer-focused. However, customer-focus goes beyond lip-service to the primary motives that drive your behaviors.

Gap in Desired Versus Actual Customer-Centricity

Half of companies say they're extremely customer-centric, but when customers of those companies were asked, only a tenth of them said those companies were extremely customer-centric. Why is there such a huge gap? When you think about who makes business processes and policies within a company, it's usually the workforce that doesn't interact directly with customers. Three-fourths of companies say that customer experience is not well defined and communicated within their company. Half of companies say they have fair or little knowledge of customer demographics, behaviors, psychographics, and transactional histories. Less than a tenth of companies say they have excellent knowledge of customers. Three-fourths of companies say their employees aren't well versed in how to delight customers.

Ways to Really Know the Customer

This represents an opportunity for those who work directly with customers to share valuable stories and facts with the rest of the company, to help the entire workforce live up to their brand promises. We usually think of marketing, sales, and customer service as outward-facing, with only outbound deliverables.

Yet, if a company is customer-centric, then concentric circles around the customer mean that marketing, service and sales are the natural conduit for helping the rest of the company - engineering, finance, human resources, production, operations, technology, safety, accounting, etc. - understand their impact on customer experience and customer profitability. Three-fourths of marketing groups say they don't influence the customer service function ... so you can imagine how much influence marketing has on the rest of the company!

Customer-facing professionals can sensitize the whole company toward the customer's plight and priorities:

(1) Make sure customer stories reflect the customer experience spectrum.

(2) Use creative ways to share customer stories:

- Intranet
- Internal newsletters
- Bulletin boards & posters
- Lobbies, break rooms, war rooms, conference rooms, cafeteria
- Staff meetings

(3) Involve organization in learning and adapting their mindsets - this is the organization-wide journey guiding everyone on managing their personal impact on customer experience, called internal branding

Return on Investment

Your company makes huge efforts and investments in communicating your value proposition, which is the brand promise that shapes customer expectations. A corresponding investment - at least in energy and scrutiny - makes sense for ensuring the brand promise is indeed delivered. Customer satisfaction occurs when the customer's experience meets or exceeds their expectations. Trust - being true to the brand promise - is biggest the biggest factor in building a customer-centric culture that maximizes customer profitability.

Note: statistics from CMO Council Customer Affinity study and Peppers & Rogers Customer Retention presentation.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Building a Customer Centric Culture

Top 3 Causes Of Job Satisfaction

Empowering employees like CIO Jurong East to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

The basic concept of Vendor Management is to "Manage your vendors or they'll end up managing you!"

Summary - A bold change of initiatives and an efficient use of database are the keys to successful Vendor Management. This offers a complete view of vendor activity and performance that is crucial for an efficient and cost-effective project. It helps in delivering a flexible, cohesive platform for enabling, engaging, and evaluating your suppliers. Though there are no permanent solution/fixes for enhancing performance, one can take specific steps to maximize effectiveness.

Often, we draw upon our experience to handle basic problems in vendor management. This white paper lists these basic problems which an organization might face if it outsources work to vendors. Once this paper is through, you can prepare a comprehensive checklist that will help you in getting the best out of your vendors.

Vendor selection

The important thing is to figure out which vendors must be 'managed,' and which ones do not need 'management.' This might sound like an absurdity, but there is some truth to it. For instance, companies might monitor purveyors of office supplies for best prices and basic service requirements, but a deeper relationship is essential for strategic vendors who will deliver eLearning modules or content, on time and at the right cost.

A crucial step is to choose the right vendor. Begin with shortlisting vendors who have worked on similar projects and have a good track record.

Finding talented and efficient vendors at a reasonable cost can be challenging.

The implementation process begins long before the vendor is selected. The specifications should include the optimum rollout approach, with key dates and implementation success criteria. The entire process, from specification development to implementation, must be handled along formal project management lines. From the outset, there must be a Project Board that will undertake to do vendor evaluation. This Project Board should also have overall responsibility for the implementation of the project, otherwise all the knowledge gained-and decisions made-during the vendor selection could well be lost.
The Project Board should consist of perhaps no more than five managers who have the most to gain and, therefore, will take a keen interest in the project. Almost certainly, there should be representation from Personnel/Human Resources.

Once you have found several technology-based vendors that interest you, gather as much basic information about them as you can. Visit their Web site, interact with them and review their work.

Once an initial short list of perhaps four to six vendors has been developed, the first task is to compare the different approaches from these vendors and finalizing on the best possible option. A mandatory criteria is the budget and the confidence the vendor has in meeting implementation dates. What you should be looking for is the way the vendor communicates an understanding of your requirements and how these requirements will be met, as well as the way in which the vendor team members deal with questions from the Board. One of the selection criteria can be-do you feel comfortable with the vendor team?

Some other key considerations are:

o Experience: How many projects have they completed that are similar in size, scope, or content to yours?

o Strength of Company: Do they have the financial resources and staff size to complete your project and maintain it in the future?

o Quality of work: Have they received professional awards, published articles in trade magazines, or otherwise been recognized for their work?

o Resources: Does the vendor have full-time, on-site staff for all critical project tasks?

According to Sue Welch, CEO of Trade Stone Software, a developer of global sourcing and supplies systems in Gloucester, MA, "Wherever possible, provide value to your vendors when you are asking them to adapt to your business needs and requirements," she advises. "For instance, if you want electronic invoicing, offer incentives such as prompt payment or instantaneous audit that can auto-correct invoice discrepancies before submission."

o Determine how well a vendor will solve problems on your project. This is never easy. After all, any vendor will tell you it has excellent problem-solving skills. Here are a few questions to ask prospective vendors that will help to let you know how well they can really deal with problems:

1. What are the problems that you have come across while working on similar projects in the past?

2. How did you deal with those problems?

3. Did you manage to finish your project on time?

4. Were you able to complete your project within the sanctioned budget?

o Value addition -- Look for vendors who think beyond their assignments and can add more value to their projects. What you don't want is someone doing what they're told to do, just because it's a part of the Media standards.

o Develop a Triumph Relationship with the Vendor

We don't want to wield a big stick to beat up vendors, but we want to create relationships that allow both parties to work successfully in the long term. Creating a triumph relationship with the vendor is mandatory for good results.

Here are some tips for creating a positive relationship with vendors:

Tip #1: Proposal Process

o The Request for a Proposal is detailed in its specifications.

o Along with prices, proposals specify the quantity and quality of the media, interactivity, and content.

o A winning solution is judged on the quality of the firm's work, strength of the company, dedication to customer service, price, and quality of the proposal, itself.

Tip #2: Only one Point of Contact:

There should be only one point of contact who coordinates between you and the vendor - the Project Manager/Project Lead. Though each project has assigned team members, miscommunication becomes likely when several individuals are talking with different levels of each organization. For example, if the client is experiencing a technical glitch or bug, it might make sense for the client's technical support personnel to speak directly with the vendor's most advanced programmer. However, the project manager from the client and vendor should participate in this meeting or phone call to make sure that prior commitments or expectations are understood, action items agreed upon, and timetables are set.
This will help in filtering right and clear information.

Tip #3: Regular evaluation through progress meetings:

Following this simple checklist will help improve teamwork on a project. The vendor should be reviewed at regular intervals so that all the problems are solved at the initial stage. One can meet once or twice a week on a project at the given time with the vendor and discuss the project status. It can also include regular phone calls with the vendor and client. During these meetings, one can review the projects and make changes if required. Also discuss the next step and an update on the schedule. In-between, one can also make frequent calls to the vendor to re-check if the vendor needs any information and that everything is on schedule. This keeps the project moving smoothly.

Tip #4: Updated Project Report:

Regular updating of the project schedule should be maintained. The report can be a simple chart that is frequently updated so that one is aware of the missed deadlines or early deadlines. This will allow you to plan at an early stage so as to overcome delays. As you act as a mediator between the client and the vendor, you should add a buffer before quoting a timeline to the client.

Tip #5: Try and make all revisions on the prototype:

The prototype is a working module that includes the major sections of each step in your project. We should try and work with this prototype, get the initial approvals and refine the look, the feel, and the usability of the interface. Examine, test, change, and ultimately approve the colors, fonts, menu structure, location of the navigation buttons, and interface metaphors. The interface should be approved and locked-in before a significant part of the script is completed so the writers will have an accurate sense of screen space while allocating text and specifying graphics.

Tip #6: Make all content revisions in the script:

After the prototype, the next major step from the production team is the script or storyboard. It is very important to review the words, pictures, and sounds that will appear in the final program. Many clients give only a cursory glance at this document and then end up requesting substantial changes after the content has been implemented. It is very time-consuming and expensive to change content after it is implemented in the program. Unless there are obvious typos or mistakes in grammar, revisions to content after it is implemented should be avoided.

o Improved Vendor Performance -- Transparency of the project between you and the vendor is very crucial. It also helps you discover how to create and leverage opportunities to improve vendor performance.

o Get what you pay for - It is very important that the vendor delivers the product/quality that was agreed on and is your requirement. The above tip helps you achieve it.

o Just to remind you -- never accept vendors at face value. Analyze and test them at your level to build a positive business relationship.

o Also recognize that while you expect value for the money you spend with a vendor, the vendor is also in the business to make a profit and has to cover overhead expenses that may not seem obvious to you or your staff. Always let your vendor know you are interested in a mutually profitable relationship.

o Use your vendor representatives as a resource for information and advice. However, be respectful of the time the vendor's representative spends with you. Remember that time is money for both of you.

o Listen to your vendors -- Companies may be wasting their energy if they put specific segments of their business out to bid. Instead, Verticalnet's Habig suggested that better strategic results are achievable when companies let their vendors bid on the parts of their business that they want the most.

Highlights of Vendor Management:

o Helps streamline, simplify and standardize your workforce processes

o Allows you to increase vendor quality, and helps you make better-informed workforce decisions

o Enhances efficiency and helps you manage risk

o Reduces costs by helping you lower vendor rates, eliminate maverick spending and manage headcount to budget

o Lets you focus on strategic human resource functions without the headache of managing E-learning modules/application

Vendor Management enables you to maintain a preferred list of clients, vendors, and suppliers to ensure successful relationships. A well-orchestrated strategy of cost management, working-capital management, and technology-driven productivity will make your business run smoothly.

When a CIO Jurong East spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

IT Consultant Paya Lebar Team Building

Work-life balance as a IT Consultant Paya Lebar is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of IT Consultant Paya Lebar from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Marketing in a Recession? How Consumer Behavior Tips Can Bring in Bigger Profits Despite the Economy

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

20 Effective Ways To Increase Awareness Of Your Brand

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

What Does it Mean to be Customer-centric?

To have the customer's best interests as the focus of your attention - not to be pre-occupied in your own interests at the customer's expense.

To do this, you need to:

(1) Really know the customer in order to anticipate their best interests.

(2) Differentiate between primary and secondary motives.

Customer-Centric Primary Motives:

Making it easier and nicer for the customer to get and use solutions.

Self-Centric Secondary Motives:

Building revenue and profit through new product development, word-of-mouth, etc.

There's a myth that talking often to your customers (sales, service, surveys, etc.) means you're customer-focused. However, customer-focus goes beyond lip-service to the primary motives that drive your behaviors.

Gap in Desired Versus Actual Customer-Centricity

Half of companies say they're extremely customer-centric, but when customers of those companies were asked, only a tenth of them said those companies were extremely customer-centric. Why is there such a huge gap? When you think about who makes business processes and policies within a company, it's usually the workforce that doesn't interact directly with customers. Three-fourths of companies say that customer experience is not well defined and communicated within their company. Half of companies say they have fair or little knowledge of customer demographics, behaviors, psychographics, and transactional histories. Less than a tenth of companies say they have excellent knowledge of customers. Three-fourths of companies say their employees aren't well versed in how to delight customers.

Ways to Really Know the Customer

This represents an opportunity for those who work directly with customers to share valuable stories and facts with the rest of the company, to help the entire workforce live up to their brand promises. We usually think of marketing, sales, and customer service as outward-facing, with only outbound deliverables.

Yet, if a company is customer-centric, then concentric circles around the customer mean that marketing, service and sales are the natural conduit for helping the rest of the company - engineering, finance, human resources, production, operations, technology, safety, accounting, etc. - understand their impact on customer experience and customer profitability. Three-fourths of marketing groups say they don't influence the customer service function ... so you can imagine how much influence marketing has on the rest of the company!

Customer-facing professionals can sensitize the whole company toward the customer's plight and priorities:

(1) Make sure customer stories reflect the customer experience spectrum.

(2) Use creative ways to share customer stories:

- Intranet
- Internal newsletters
- Bulletin boards & posters
- Lobbies, break rooms, war rooms, conference rooms, cafeteria
- Staff meetings

(3) Involve organization in learning and adapting their mindsets - this is the organization-wide journey guiding everyone on managing their personal impact on customer experience, called internal branding

Return on Investment

Your company makes huge efforts and investments in communicating your value proposition, which is the brand promise that shapes customer expectations. A corresponding investment - at least in energy and scrutiny - makes sense for ensuring the brand promise is indeed delivered. Customer satisfaction occurs when the customer's experience meets or exceeds their expectations. Trust - being true to the brand promise - is biggest the biggest factor in building a customer-centric culture that maximizes customer profitability.

Note: statistics from CMO Council Customer Affinity study and Peppers & Rogers Customer Retention presentation.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Strategic Supplier Relationships: The Key to Vendor Performance Management

How Can Singaporeans Achieve Better Work-life Balance?

Empowering employees like IT Consultant Paya Lebar to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Motivation can be defined in numerous ways, but there are two basic definitions or descriptions. It can be defined as the main reason or reasons that individuals partake in a certain behavior, specifically human behavior pursuant to the study of psychology or neuropsychology. It can also be defined as the driving force that initiates and drives an individual's behavior. It is the internal energy that propels us to achieve our goals. Typically, it is considered to be a dynamic state of mind not concerned with personality.

There are three aspects of human behavior that motivation is based and founded in:

1. arousal of behavior
2. direction of behavior
3. persistence of behavior

Arousal of behavior relates to a specific thing that activates behavior whereas direction of behavior relates to what is responsible for directing the behavior. Persistence of behavior relates to how the behavior is sustained.

What drives an individual to be successful is referred to as motive. Usually, all motives fall into one of three categories and are considered to be physiological or psychological in nature:

1. homeostatic motives - hunger, respiration, thirst, etc.

2. nonhomeostatic motives - curiosity about the environment, seeking shelter, etc.

3. learned or social motives - achievement, approval, power, social affiliation, etc

In any endeavor that an individual undertakes, motivation (or the lack thereof) is the key element behind the success or failure of the endeavor. It plays a key role in the workplace where the effective performance of an employee is concerned. Management or supervisory personnel have a direct impact and play a significant role in employee motivation in that they employ different motivational techniques to raise productivity levels. It also follows that this has a direct effect on the cooperation levels between the employer and the employee.

Motivation can also be classified as

1. negative or positive
2. obvious or subtle
3. intangible or tangible

Education or learning is also interrelated with motivation and instructors will oftentimes employ motivational techniques to get their students to learn. It can benefit the student by making them more competent as well as encouraging confidence and the ability to solve problems.

Self-motivation has also been classified into two different types:

1. Extrinsic - generated by external factors

2. Intrinsic - generated by internal sensations and is longer-lasting than extrinsic

Self-motivation is considered to be intrinsic in nature, and originates from an individual's internal drives. It is the basis for overcoming obstacles in the path of achieving one's goals. Additionally, certain external factors are responsible for driving a person into undertaking a new project or to move in a positive direction. Characteristically, self-motivation is comprised of three factors:

1. beliefs
2. desires
3. values

Since an individual cannot rely on others for motivation, self-motivation has to come from within. It plays a key role wherein the individual gathers the courage and strength to achieve certain goals, and is essential for developing new undertakings or making a positive change in one's lifestyle. Training programs have been proven to be the best way to educate oneself in order to improve motivation and self-motivation.

When a IT Consultant Paya Lebar spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Head Of Finance Newton Team Building For Employees

Work-life balance as a Head Of Finance Newton is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Head Of Finance Newton from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Vendor Management

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Customer Segmentation Using Machine Learning

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

INTRODUCTION

Procurement researches sales records and inventory levels of current stock, find foreign and domestic suppliers, and stay current on any changes in either the supply of or demand for needed products and materials.

Production and Manufacturing are closely related but are not one and the same. Manufacturing involves activities from research, design and development, production, logistics, and service provision to end of life management. Production involves the processes of making, shaping, etc., while manufacturing involves the process of getting raw materials to goods and their associated services

Purchasing managers, buyers, and purchasing agents aim to find the best merchandise at the lowest possible purchase cost.

Purchasers and buyers find the best goods or services, choose suppliers, negotiate prices, and grant contracts that ensure that the right amount of the product or service is received when it is needed.

PURCHASING AND MATERIALS ACTIVITIES

The Purchasing Manager plays a pivotal role in procurement, vendor development, and negotiation. The manager plans, organizes, directs, controls, and evaluates the purchasing activities of the company. The manager provides expertise in specifying and procuring new and replacement components, parts and equipment, and reviews technical and quality requirements for the purchase of items, spare parts, and services.

To operate cost-effectively the company requires competitive prices commensurate with the technical and service requirements, and the security required by the business.

The role is to manage and operate this process, in particular developing processes to capture and control expenditure and linking with suppliers, both current and potential, to ensure that best prices and quality is achieved.

The Purchasing Manager develops purchasing policies and procedures and controls the purchasing department budget.

Relationship Management

* Manages day-to-day functioning of purchasing group.

* Reviews purchase orders to ensure adherence to quality and procedures.

* Ensures that re-ordering of stock is carried out on a daily basis as required to maintain adequate stock levels of parts for production.

* Understands assembly process thoroughly to ensure that the material is delivered just in time.

* Participates in the creation of forecasts, and relates those to production programs and stock required for the daily production round.

* Represents purchasing in discussions and strategies aimed at improving overall integration of purchasing, assets, and accounts payable.

* Liaise with Technical department when creating new products or in matters relating to product specification.

* Participate in the development of specifications for equipment, products, or substitute materials.

* Reviewing the technical specifications for accuracy and completeness.

* Manages the creation and maintenance of Equipment Bill of Materials.

* Overseeing the technical and QA requirements on all items (materials, components, and parts) to ensure that purchased items meet design requirements.

* Managing the shipping, handling and storage requirements on components to ensure high quality items are received and issued to the appropriate departments.

* Standardizing and managing the evaluation of replacement items for obsolete parts and component acceptability.

* Support & Coordinating with the various Departments for Procurement of Common Raw Materials & Packaging Materials.

* Coordinate with various departments for smooth functioning of departmental activity, particularly with Accounting department.

* Rate contracts/tendering /market surveys and data bank of prices for ready reckoning and instant estimations.

* Prepares, monitors and controls department business plans / budgets

Supplier Management and Vendor Sourcing and Analysis

* Undertakes Vendor Analysis & Development of new Vendors.

* Identifies early suppliers for company components, concepts, and production programs.

* Manages vendor documentation program, ensuring that a tracking system is in place and maintained.

* Works closely with potential production suppliers to ensure effective support.

* Searches on a worldwide basis for technology suppliers, technology partners, and future potential suppliers for the company and keeping up with market trends.

* Proactive and acts on initiative to maintain a supplier base and when necessary source alternative suppliers to ensure that the required material products remain in constant stock as required.

* Proactively ensures all suppliers adhere to agreed service levels and to have contingencies plans of supply for all core product ranges.

* Develops and implements appropriate long and short term strategic and tactical initiatives in order to achieve specific buying, sourcing targets.

* Supports the Product Design Group with supplier negotiations, supplier timing plans, and cost forecasts to achieve the most cost effective component delivery.

* Negotiates and executes contracts with the vendors as per requirement of quality, cost and delivery.

* Maintains data of all the prices approved as a record and keeps track of changes in prices frequently and updates.

* Reviews purchase orders to ensure adherence to quality and procedures.

* Oversees the purchase orders to Vendors and order acknowledgements from the Vendors.

* Follows up with Vendor for delivery and to get the material at the right time and required quantity at required locations.

* Follow through on outstanding back orders.

* Maintains effective record keeping on all purchase orders and supplier confirmations.

* Coordinates with accounts for payment of suppliers and resolve issues if any.

* Reviews and processes claims against suppliers.

* When necessary, to develop a sub-contractor base whether local or direct to market level and to set-up on-site, sub-contractor QA and process improvement activity.

Cost Reductions and Efficiency Improvements

* Evaluates cost and quality of goods or services.

* Monitors International Trends in Raw Material for effective negotiations.

* Continuously tries to reduce outgoing funds while not compromising on product quality.

* Obtains best prices for imports from carriers.

* Cost Cutting through negotiation with suppliers (domestic/foreign).

* Negotiation and pricing of current and new products.

* Streamlining production, identifying and eliminating inefficiencies.

* When necessary, Just-In-Time purchases to minimize inventory cost.

* Updating and revising existing purchasing procedures to introduce cost cutting measures.

* Balancing regional and global approaches.

* Accurately monitoring and forecasting stock levels.

* Researching and identifying new products and suppliers.

* Always seeking reliable vendors or suppliers to provide quality goods at reasonable prices.

* Precise monitoring of quantity and timing of deliveries.

* Ensuring relationships with existing suppliers are kept manageable and in the best interests of the business - be this through initiating commercial negotiations, implementing improvement programs and making certain quality, cost and delivery are guaranteed.

* Maximizing the supply chain efficiencies for all accountable suppliers and accounting for the in, and outbound supply chain for the business against agreed service and targets.

* Highlighting purchasing opportunities where identified.

* Managing and developing a solid relationship with suppliers to reduce costs and improve quality including on-time deliveries.

* Plans material as per the requirement of assembly processes to support improvement in the production flow.

* Overseeing continuous improvement initiatives to drive process optimization.

* Developing and managing obsolescence programs, including the strategic direction for components and materials.

Team Relationship

* Provide leadership to the team.

* Supervise and motivate the team.

* Develop and train staff to ensure that they meet required performance standards.

* Support in execution of Service Contracts.

* Liaise with support staff as appropriate.

* Provide guidance to staff in handling employee inquiries and to ensure that matters are resolved.

* Demonstrate credibility to win the confidence and support of the top management, suppliers and partners.

* Interact with suppliers, customers, customers' agencies (Artwork Houses etc.), and agents, suppliers and prime producers supplying all group companies.

* Provide assistance to all departments as required.

* Deal effectively with executive, technical and operational and sub-contract personnel.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Strategic Supplier Relationships: The Key to Vendor Performance Management

20 Effective Ways To Increase Awareness Of Your Brand

Empowering employees like Head Of Finance Newton to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Abstract

During the marketing classes we all have heard about the four 'P's (Product, Price, Place and Promotion) which is also known as the marketing mix. It has always been the best parameters to control the internal as well as external constraints of the marketing environment.

In today's hypercompetitive world, the four P's are no longer an effective model to penetrate and exist in a market. Through the power of mass media, channels and technology, the control has slowly shifted from marketers to consumers. This is where 'customer-centric marketing' comes into existence which is now considered as the new model for marketing effectiveness.

Customer-centric marketing

According to Chaffery1[1], "Customer-centric marketing is an approach to marketing based on detailed knowledge of customer behavior within the target audience and then seeks to fulfill the individual needs and wants of customers." It centers on the needs and wants of the customer, and not about what the marketer or seller wants a customer to buy. Thus by understanding the needs, wants and problems of the customer, businesses could gain direct insight into them and build a mutually beneficial relationship and rapport. Understanding how a customer or prospect is engaged with the brand and then tailoring resources, products, services, and communications to reflect their engagement level demonstrates a customer-centric business approach.

Thus;

• Customer-centric approach is more like creating relationship sales by understanding your consumers as opposed to product or promotional approach.

• It focuses more on the satisfaction and mutual relationship with the consumer

• Communication becomes an important factor to get regular feedback from consumer

• Will be investing on potential consumers thus avoiding vain investments on low potential customers

• Sales will be generated as a result of a solid relationship, listening and problem solving

• Consumer information will be integrated across marketing, sales, and service departments

• Integrated mass and direct communications with the customers will be made regularly

To help frame a customer-centric strategy, Forrester[2] has identified five key dimensions which marketers must focus on:

1) Establish a customer-centric marketing culture;

2) Rethink business processes;

3) Create a centralized view of the customer;

4) Use analytics to drive customer communication; and

5) Invest in a consistent measurement framework.

Why companies should change to customer-centric approach?

There are many benefits by switching to a customer-centric marketing approach and adjusting marketing practices to deliver relevant messages through multiple channels.

• The first reason would be 'an improvement in selling and experience' as there are no sales tosses

• Least expensive marketing program and improved referrals

• Marketing investment will be better aligned with customer profit potential

• Increase in profits through customer loyalty. Customers will buy over a long period of time

• Lasting business relationship

• Raises awareness and optimizes appeal

Conclusion

A comprehensive view of the customer helps marketers to deliver productive customer experiences, support marketing measurements, and drive new business opportunities. The first step towards greater profits is to recognize that company profitability is driven by customer-level profitability. Long term investments in the right customer base will definitely help businesses to position themselves to prosper and succeed.

[1] Chaffery, Dave. 2008, Customer centric marketing definition, from; http://www.davechaffey.com/E-marketing-Glossary/Customer-centric-marketing.htm

[2] Source: Defining an Enterprise wide Customer Contact Strategy, Forrester, Research, Inc., October 22, 2008.

When a Head Of Finance Newton spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Sales And Marketing Director Employee Welfare

Work-life balance as a Sales And Marketing Director is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Sales And Marketing Director from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Creating a Customer-Centric Organization

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Vendor Relationship Management Checklist

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Is your organization customer-focused? As the economy regains strength, consumers will feel comfortable spending more. By fortifying your customer engagement approach now, you can position your organization to take full advantage of the eventual upturn. Fostering customer engagement is also the most effective way to recover lost customers and acquire new ones. This is because fully engaged customers recruit new customers for you - they are enthusiastic about the service you provide and recommend you to others. If you can create a customer-centric organization, you can successfully generate fully engaged customers (as well as higher profits).

There are two key variables in engineering a customer-centric organization: customer engagement and employee engagement. Through Customer Engagement Management (CEM), you can take practical steps to increase customer engagement. Although nearly any organization can improve customer engagement through CEM, we have found that customer engagement scores improve even further when organizations also use Employee Engagement Management (EEM). EEM practices create a healthy organizational culture in the workplace so that your employees feel passionate about their work. Although some immediate actions can be taken to improve employee engagement, EEM will likely involve a longer process of internal change and growth.

Customer Engagement
Generally, an engaged customer is one who actively supports a service or product. Customer engagement is more than just brand loyalty where customers are simply making exclusive purchases; instead, engaged customers are supporting the company by buying more products and services and telling others to do the same. In short, the key to a successful business is engaged customers -- people who enthusiastically endorse what you do.

Unfortunately, many organizations fail to recognize how their own procedures create apathetic customers. For instance, many organizations suffer from a lack of consistency regarding customer contact. Nothing is more frustrating for a customer than having three different encounters with three different employees in three different ways over a single issue. It's easy to see how customers are willing to switch brands when faced with such poor customer service.

A customer-centric organization wouldn't expect its customers to navigate such complex communication structures. Customer-centric companies focus on the customer throughout everything they do. A CEM solution for such a problem would begin with getting feedback from customers to find out how they feel, ideally at the individual level and through statistically reliable market research. To do this you must identify the customer touch points within your organization and contact customers after an experience with these touch points to get their feedback. If you do this, you will have both individual customer feedback and begin to see larger trends and areas for focus. View your product or service as a real customer would. Don't generalize or stereotype; instead, recruit actual customer to help you accurately visualize your product. By doing this, you'll remove the focus from "the company" and put it on the customer--exactly where it needs to be.

Employee Engagement
Whether they realize it or not, customers make most of their decisions based on their emotions--how they're feeling at a given point in time--which is why employee engagement is a crucial ingredient in creating a customer-centric culture. If employees are engaged, their interactions with customers will be genuine, not coerced or forced. Customers recognize and are pleased with such sincere service. As such, one of the major factors in increasing customer engagement is employee engagement.

The first step to engaging employees is realizing that there is not a one-size-fits-all solution for every organization. Since every company's organizational culture is different, every company's employee engagement solution should look different as well. Your employees are unique, so your EEM solution should begin with asking staff about their experience at the organization and then incorporating a management solution that allows managers to take action to meet employee needs.

With an increase in employee engagement, you're likely to experience an increase in customer engagement. And with that, you'll no doubt enjoy success.

~Monica Nolan, 2009

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Understanding Consumers and Market Segments

10 Ways To Encourage A Healthy Work-Life Balance For Employees

Empowering employees like Sales And Marketing Director to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

The previous two parts of this series explored how important it is for sales people to understand what is driving their customer to buy and to understand what the customer's expectations are. In this article we are going to look at how to proceed once we have the understanding we need of our customer.

In the first article in this series, I stated that most sales people have more than one product or service line at their disposal to meet clients needs. Marketing departments keep coming up with more and more variations even of the same product for different uses and to serve various markets. Some of the features may be the same, maybe even the benefits will be similar, but how these meet our customer's expectations will vary greatly.

In the last article I noted that if we do not understand our clients expectations we cannot meet them. Our product/service will create buyers remorse in the customer and thus we will have a dissatisfied and probably very vocal customer. So if we understand what need our client is trying to satisfy and how they expect our product/service to satisfy the need and we have determined that in fact our available products/services can meet that need and meet or exceed the clients expectations, now what?

Let me give a very simple example of all of this. I am a customer of a roadside beverage stand and I want to order a drink. The sales person has a couple of options: 1) They can simply provide me with their most popular beverage and hope for the best, 2) they can find out the size of the beverage that I want and maybe a preference (Coke vs Pepsi), 3) They can find out more about my situation, explain my options to me and help me to make the best decsion based upon my needs and expectations.

Okay you are thinking I am making a mountain out of a mole hill here, it is a drink for Pete's sake, you are thirsty take what he gives you and be happy, children in other countries don't have anything to drink! Stay with me here, if I am competing in some type of sporting event, or I am a diabetic or I believe that when I am hot, a hot drink will cool me better than a cold drink, or what if all the stand has is alcoholic beverages and I am opposed to alcohol, or allergic to corn syrup or I just plain won't drink anything without carbonation. What if I am extremely offended at wasefulness and I know that I can not drink more than 16 oz and the clerk gives me a 32 oz drink, or I am on a diet where I have to measure my in take?

These things all have to do with my need and my expectation. If I order an ice cold carbonated beverage and expect it to warm me when I am cold, I will be sorely displeased. My expectation has not been met. Worse yet, If I am coerced or persuaded (manipulated/sold) an ice cold beverage, how satisfied am I going to be?

Customer satisfaction hinges on our ability to meet their needs and expectations, this cannot be done if we do not understand those needs and expectations or what they are. Secondly, a buyer is much less likely to be dissatisfied with a product/service that they feel they chose because it was the best possilbe alternative, even if it does not completely meet their needs and expectations. The most important part of consultative selling is in the presentation. A sales person cannot be persuading or manipulating the customer to buy, but must instead be giving them the information they need to make their own decision.

In one of the previous articles I made a statement to the effect that an objection is merely the customer telling us that they do not yet trust us and we have not yet developed the needed rapport. In this part of the process this is a very important concept. If we take a position of trying to defend ourselves or our product/service in answering objections we are furthering a confrontational position against the customer and eroding instead of building rapport. Conversely if we take the this opportunity to confirm our understanding of the what the client has told us their needs and expectations are, we are showing our sincere interest in meeting their needs and expectations. We are no long confronting them, but advocating them. We don't overcome objections, we understand them, don't merely empathize or sympathize, but understand.

If we do in fact understand the customer's needs and expectations, the solution will be clear. We can then explain the options we have to meet the clients needs and expectations and THEY can make a decision. They are not sold anything! They make a decision to buy. If the decision is solely the client's, they cannot be dissatisfied with our product/service, only with their own decision to buy it. If sales people are able to convey their understanding of the client's needs and expectations to the client and the client assents that they are corrrect, and the client is given the information that they deem satisfactory to make a decision with out coercion or prompting (with out being sold) then the decision is theirs alone, and they know it. There will be no resentment towards the sales person, they have been nothing but helpful, and no resentment towards the product/service, I knew going in what the options were, I just chose poorly.

In short, once we understand the customer's needs and expectations we must present to them all the options that are potential solutions. If they don't buy now, they will, either because your industry has improved a product that can now meet their needs/ expectations better, or because they have a new or differnent need/expectation that your product can fill, because they want it to. We have taken the time to build adequate rapport, in fact a relationship, we are now a trusted advisor and people want to do business with trusted advisors. People like to buy, they don't like to be sold to. People like to make decisions, they don't like to pick one and hope for the best. Understand your clients needs and expectations and help them to find the best solution. Don't try to force your solution as the best and for crying out loud----Let the Customer Buy!

When a Sales And Marketing Director spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Sales And Marketing Tools Job Satisfaction

Work-life balance as a Sales And Marketing Tools is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Sales And Marketing Tools from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Shifting to a Customer-Centric Marketing Strategy

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Customer Segmentation Using Machine Learning

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

There are businesses that are mostly self-sustained. And then there are businesses that rely heavily on third-party suppliers, otherwise known as vendors. For example, an events management business rely on equipment suppliers, food and beverage suppliers, chairs and tables suppliers, printers and fabricators to be able to deliver a good, seamless and flawless event.

While these types of business typically depend on a set of reliable suppliers that they regularly work with, the best practice still involves exploring other suppliers every time a requirement comes up. Otherwise, there won't be any chance of discovering better and more cost-effective suppliers at all.

For example, an events management company who has done business with the same audio-visual equipment supplier for the past 10 years was bent on using the same supplier for a big event. One day, however, a faxed flyer came in from a fairly new equipment rental company which offered lower rates. When asked for a quote, this new supplier gave rates that were half the cost that the old supplier offered. So automatically, the events management company signed up a new equipment supplier.

Unfortunately, keeping a database of vendors is a challenging task, especially in companies where there is a fast turnover rate. The danger in these companies is that people leave too soon, without getting the chance to endorse to the next person their "red book" of trusted vendors. As a result, the next person has to start from scratch to build up their own database of vendors.

This is where the importance of vendor management software comes in. So what does vendor management software do? It actually serves as a robust database of all the vendors that the company has worked with in the past, as well as those that they intend to work with in the future.

Typical vendor management software has such functions as vendor registration, a vendor approval scheme, risk management functionality, the ability to track vendor visibility and performance. All these are usually linked to a standard billing and invoicing functionality as well.

Does it sound like something that your business needs? Remember though that there are certain things that you need to keep in mind when investing in software. First, you have to make sure that the interface is user-friendly, the security features meet your standards, the report-generation functionality is flexible and robust, and the after-sales support is responsive.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Building a Customer Centric Culture

Why Customer Centricity Is Important

Empowering employees like Sales And Marketing Tools to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Surviving the Recession

Savvy network marketer and other home based business owners know that just because consumer spending habits change doesn't mean they still won't spend that money. The trick to marketing in a recession is to understand how the consumer behaves in times like these. Keep reading and I'll explain a little about the factors affecting consumer behavior that can help you get better leads and more profits.

Characteristics Influencing Consumer Behavior

It is always important to understand your targeted consumer but never more so than during tough financial times. Marketing in a recession carries with it a new level of complexity. Consumers are much more careful about where and how they spend their money.

If you are going to win over those leads, you'll have to deepen your understanding of them and know what their concerns area. Use this information to tailor your USP (Unique Selling Proposition) to one that will provide solutions to their problems and concerns.

Four Main Elements of Consumer Behavior

Cultural factors play a very big role in consumer behavior. Social class, buyer behavior and subculture elements each go into determining the ultimate behavior of the consumer. During times of economic hardship, a good approach here is to first identify with the consumer on their individual social class perspective. For example, middle class families in this country are experiencing a credit crisis unlike anything they've ever seen.

Social factors are another element to a consumer's purchasing habits. What their family status is, what roles they take on both in their family, job and community will affect how they spend. Try to determine the familial role of your leads, are they the decision makers? Market to them by showing them how your business, product or service can benefit the lives of everyone in their life.

Personal elements such as age, occupation, lifestyle and personality all play important roles. Try to group their personality into on of four types: care giver, money driven, social butterfly or analytical thinker and tailor your marketing approach to their specific personalities.

Finally, there are psychological factors at play here as well. Motivation, perception, beliefs and attitudes can all affect a buyer's behavior. This is where it is most useful to take a preemptive approach in defining all the benefits of what you have to offer.

It Takes Practice

If you are new to the study of consumer behavior because you want to improve your results in marketing in a recession, this may take a little practice before you can master it. As you go through your day, think about these factors and observe those around you. With a little practice this process will become almost instinctual and can really improve your business' results.

When a Sales And Marketing Tools spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

HR Managing Director Customer Centric Selling

Work-life balance as a HR Managing Director is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of HR Managing Director from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Hypothalamus - Role in Motivation and Behaviour

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Resilience Training Online Apac

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

While most companies talk about consumer friendliness, customer centricity, customer relationship etc. more often than not they are mere lip service or jargons with little sincerity behind these grand sounding words.

When a company lacks the sincerity to deal with their customers fairly, some one comes along and puts the company on the dock and though the trial by the customers may be long drawn out it is ultimately the death sentence for the brand or the organizations itself many a times.

There are hundreds of recorded cases of companies going down the tube in spite of the best possible product and high visibility promotions just because they failed to take care of the customers in all sincerity.

Jeremy dorosin and the Starbucks is a case in point where one single customer created a movement and media attention so wide that the company had to close shop.

Starbucks coffee simply refused to acknowledge the genuine grievance of a customer and laughed him off. In spite of their claims of people oriented service, they failed to note a genuine customer complaint. When Jeremy Dorosin went to the media and the internet, millions of affected customer whether of starbucks or other companies joined in to orchestrate their protest against the high handedness of big business? The unfairness was visible when Starbucks painted Jeremy Dorosin as a nut.

The company had to close shop ultimately and we now have the famous term Starbucked out of this customer victory.

Just do a search of the word Jeremy Dorosin in any search engine and you can read all about it.

The point that needs to be raised here is:

Can the customer be used like a whore? Use them and discard them when you feel like. Is he just a number; the more you have the better is your bottom line.

Or is the customer going to be an important component around which your business revolves.

Would you like to shortchange the customer for your short term profits?

Do you react differently to your customer and you as a customer?

Is your entire organization designed to revolve around the customer or only your Sales and Customer Care have to think about them and rest of the organization is trying to beat the customer orientation by an accountant mind set.

These are just the basic questions you need to ask yourself if you want to survive and profit from business. As Peter Drucker said almost 50 years back, Customer is Business.

Decide whether you want run a business or run out of it by forgetting the customer.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Six Steps to a Successful Vendor Management System

How Do You Develop Resilience

Empowering employees like HR Managing Director to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Part of the appeal of customer-centricity is that it takes very little business acumen to grasp its core concept. Focus intensely on customers, align your products or services with their interests, and voila: a customer - centric culture is born. Simple, right? Not quite.

Becoming a truly customer-centric organization is perhaps one of the most difficult transitions an organization can make, fraught with hidden obstacles and unanticipated challenges. Here are three potential roadblocks on the path to a customer-centric strategy, and how to get around them.

Failing to understand your most valuable customer

A customer - centric strategy is only as good as its customers. You cant let the average customer dictate what you do, says Robert Duboff, CEO of Hawk Partners LLC and coauthor of the book Market Research Matters. Generally speaking, Duboff says, 20 percent of a company's customer base generates 80 percent of its profits. Given that split, its imperative to put your most valuable customers at the heart of your approach.

Identifying those customers need not take exhaustive research and complicated measures. It can be a fairly straightforward process, as it is with the Net Promoter Score, or NPS, a metric developed by Bain & Co.s Fred Reichheld. As set forth in The Ultimate Questionwritten by Reichheld and published by Harvard Business Pressthe NPS approach consists of one simple question: On a scale of one to 10, would you recommend us to your friends?

Based on the answer to that question, customers are segmented into three categories: promoters, who actively champion a particular product to their friends and colleagues; passives, who are lukewarm about the product; and detractors, the opposite of promoters. A given company's score is simply the difference between its number of promoters and its number of detractors.

NPS has proven to be a powerful tool for such companies as General Electric Capital Solutions, which has used it not only to identify customers that are already valuable promoters but to gain insights into how it can convert detractors. For a business like GE Capital Solutions, which serves more than 1 million very diverse customers in many different industries, NPS helps us better understand what our customers are feeling and how we can improve their experience with us, says Stephen White, a spokesperson for GE Capital.

Failing to support your external customer - centric strategy with an internal customer - centric strategy.

Speaking of valuable customers, what about that most priceless customer of all your employee?

While most companies aren't in the habit of regarding their employees as customers, those seeking to instill a customer-centric culture should rethink their stance, argues Elaine Berke, president of Westport, MA based EBI Consulting, which specializes in helping organizations develop customer-centric strategies. Customer - centricity needs to come from the inside out, says Berke. Leadership must avoid a double standard that makes it OK for managers to argue with or demean staff while still being courteous and considerate to external customers.

Consider the case of the world-renowned Johns Hopkins University Hospital. In developing a comprehensive Service Excellence initiative aimed at boosting its level of patient care, the hospital included employee satisfaction as a core component of the program. The hospital conducted an extensive survey to gauge employee concerns that turned up such simple, actionable insights as making it a point to compliment co-workers and instituting criticism - free no negativity days.

Customer-centric organizations value and respect internal customers as much as external customers, says Berke. Like the old saying goes, If you're not serving a customer, you're serving someone who is.

Failure to identify the moment of truth

Companies spend considerable time and resources developing metrics for processes, execution and other day-to-day functions but often overlook defining their moments of truth those points at which a customer interacts with a company's product or service and forms an impression.

Companies are usually very good at creating metrics around [such procedures as] production deliverables but have a much harder time knowing how to create and measure standards relating to the quality of service being delivered, Keith Bailey of Sterling Consulting Group says.

In defining a company's moments of truth, Bailey suggests looking at three different angles quality of product, quality of procedures and quality of relationships. Taking a hotel as an example, the quality of the product would be the cleanliness and comfort of the rooms. The quality of procedures would be such factors as how it long it takes to check in or how long customers wait for room service. The quality of relationship would be the friendliness and helpfulness of the staff.

Considering each angle separately allows a company to isolate the negative moments of truth within each and develop a game plan for turning them into positive experiences. Procter & Gamble, for example, identified its moment of truth as that instant when a shopper picks up one of its products and decides whether or not to purchase its decision the customer makes in an average of six seconds. The company has overhauled its marketing with that insight in mind, creating a global First Moment of Truth business team designed to win over the customer in that moment.

There are as many different customer-centric approaches as there are customers, and each has its own unique challenges, but the road to a truly customer-centric strategy always begins with the same steps.

When a HR Managing Director spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.