Article Check - Business

Cross Cultural Advertising
"Culture is a like dropping an Alka-seltzer into a glass – you don’t see it, but somehow it does something," Hans Magnus Enzensberger.Culture affects everything we do. This applies to all areas of human life from personal relationships to conducting business abroad. When interacting within our native cultures, culture acts as a framework of understanding. However, when interacting with different cultures this framework no longer applies due to cross cultural differences.Cross cultural communication aims to help minimise the negative impact of cross cultural differences through building common frameworks for people of different cultures to interact within. I

. The price paid for acquired businesses is frequently substantially higher than the appraised value determined from the tangible assets of the company. According to a study in 1995: "the average market value of all American-based publicly traded companies was 70% greater than their replacement cost (e.g., their tangible net asset value.)" 1

Assessing the actual brand value of a B2B services company should include the customer facing processes to determine how effectively the various functions and people are aligned to deli

Garage Sale Average Earnings Down
Many economists rely on economic indicators to predict consumer spending and the health of the wealth of a nation. Using such data they can predict economic trends, business cycles and industry movement. It is amazing all the data available out there and all the different methods that are considered mainstream economic theory. Yet so often we fail to see the most obvious trends. For instance simple things like non-profit carwash fundraiser donations above ticket prices or the volume of cars pulling in with drivers freely willing to donate for a good cause. Additionally one of the best economic indicators I have seen is the average garage sale earning in middle class neigh

If you have high quality support services and polices, and your employee satisfaction surveys show that your employees are happy, does that mean your customers actually experience results that match or exceed your brand promise? Is the culture of your employee base consistent with the values of your company? Are different employee groups delivering quite different experiences to your customers, like sales and service appearing to speak a different language? These inconsistencies create disjointed experiences for customers who will be constantly adjusting to your company’s different styles, behaviors, standards of performance, and promises. This makes it very difficult to develop a sense of affinity and loyalty with your company.

The Service-Profit Chain developed by Heskett, Sasser and Schlesinger (1997) from Harvard Business School establishes relationships between profitability, customer loyalty, and employee satisfaction, loyalty, and productivity. This model suggests that profit and growth are stimulated primarily by customer loyalty, which is a direct result of customer satisfaction. Satisfaction is greatly influenced by the value of service provided to customers. Satisfied, loyal, and productive employees create value. Employee satisfaction, in turn, results primarily from high quality support services and policies that enable employees to deliver results to customers.

While the Service-Profit Chain model provides an essential foundation to assure that your employees are delivering results to customers, a focus simply on employee support services and policies will not result in employees delighting the customer and delivering on your brand promise. You need a defined employee culture, and reward and recognition system that aligns behaviors consistent with the brand promise of your business. This strong link and consistent behaviors will strengthen the bond of loyalty with your customers, lower the cost of support service, and accelerate operating efficiency and sustained profitability.

In financial terms, the value of a brand can be a significant component of the value of the company. The price paid for acquired businesses is frequently substantially higher than the appraised value determined from the tangible assets of the company. According to a study in 1995: "the average market value of all American-based publicly traded companies was 70% greater than their replacement cost (e.g., their tangible net asset value.)" 1

Assessing the actual brand value of a B2B services company should include the customer facing processes to determine how effectively the various functions and people are aligned to deliv

Outsourcing in India
Outsourcing is the process of transferring present business activities to an external provider in order to utilize outside resources to perform activities previously maintained in-house.India is producing millions of educated workforce every year. Most of them speak good English. This young workforce is intelligent, enthusiastic and willing to work hard to succeed. They even do not mind night shifts to keep the working pace with their fellow Americans. The key tip is to know your process and costs prior to considering off shoring any project. By being armed with solid information, it's then possible to select the right outsource partner and make a good decision for

ll be constantly adjusting to your company’s different styles, behaviors, standards of performance, and promises. This makes it very difficult to develop a sense of affinity and loyalty with your company.

Assessing the actual brand value of a B2B services company should include the customer facing processes to determine how effectively the various functions and people are aligned to deli

Why Taking Care of Cleaning Equipment Adds to the Bottom Line
Taking good care of your cleaning equipment not only extends the life of your machines, but it saves you money too. Cleaning equipment such as vacuums, buffing machines, and automatic scrubbers can last years longer with the proper care. Caring for your cleaning equipment also shows your clients that you are a professional and you are serious when it comes to making their buildings look good! Proper maintenance of equipment helps to assure that your machine is available when you need it and will help to avoid those unexpected equipment breakdowns.Preventative maintenance is the best practice for your cleaning machines. Your maintenance program should start when you

a direct result of customer satisfaction. Satisfaction is greatly influenced by the value of service provided to customers. Satisfied, loyal, and productive employees create value. Employee satisfaction, in turn, results primarily from high quality support services and policies that enable employees to deliver results to customers.

Assessing the actual brand value of a B2B services company should include the customer facing processes to determine how effectively the various functions and people are aligned to deli

Best Laid Plans - Unexpected Events - and the Choices we Have
Kevin was ready to get the day started. He only had one scheduled meeting all day, a real rarity. He was looking forward to a day in the office to catch up on calls, emails, filing, etc. As he walked out the door of his home he slipped on some ice and broke his ankle. Kevin’s day just landed in a totally different direction than what he originally intended.Julie woke up all set to get the week started. She was excited because she was ready to dig in and be a productivity maven. She had put a task list together and she was geared up to tackle it. Just as she knocked one item off the list and felt that she was just getting on a roll she was interrupted. The in

not result in employees delighting the customer and delivering on your brand promise. You need a defined employee culture, and reward and recognition system that aligns behaviors consistent with the brand promise of your business. This strong link and consistent behaviors will strengthen the bond of loyalty with your customers, lower the cost of support service, and accelerate operating efficiency and sustained profitability.

Assessing the actual brand value of a B2B services company should include the customer facing processes to determine how effectively the various functions and people are aligned to deli

Hurricanes and Corporate Branding
No businessman takes joy in making money on other people's misfortune such as a devastating hurricane during the 2005 Atlantic tropical hurricane season. However, a smart business or corporate image program which specializes in branding can actually make the most of it by putting their marketing efforts toward helping the local community that was devastated or destroyed by the damage.Most corporations that help people and those companies who help the community in their time of need are not often forgotten. It is the right thing to do from a business standpoint and from a moral standpoint. It is a good time to build corporate brand and give a little back to the c

Assessing the actual brand value of a B2B services company should include the customer facing processes to determine how effectively the various functions and people are aligned to deliver performance consistent with the brand promise of the company. Unrealistic prices can be paid for brand value that may be tied to market awareness and market share, rather than any real capability of the company to perform commensurate with its reputation. Brand value should be discounted by elements that fail to deliver effectively, or where significant inconsistencies exist between the company and its customers’ expectations for the future.

Consider the case of Philip Morris: "In 1989, Philip Morris paid $12.9 billion for Kraft, six times its net asset value. According to Philip Morris CEO Hamish Maxwell, his company needed a portfolio of brands that had strong brand loyalty [i.e., customer relationships] that could be leveraged to enable the tobacco company to diversify [i.e., financial relationships], especially in the retail food industry [i.e., trade relationships]."2 Philip Morris paid billions for a set of relationships and the expectations that those relationships would enable Philip Morris to conduct business in entirely new ways in the future.

In addition to significantly affecting the purchase price of a company, the value of the brand and brand equity directly affects stock price of the company. A Cap Gemini Ernst & Young report issued in 2000 concluded "brand power can account for 5 to 7 percent of the change in a company's stock price." 3 A study of 220 companies identified that corporate brand image could be quantified with the following components:

Advertising spending 30%
Size of company 23%
Low dividend 10%
Earnings volatility 7%
Stock price growth 8%
Other factors* 22%

*(including marketing components such as events and publicity, industry affiliation,

product categories, message quality, etc.)4

Note that 52% of the factors influencing the brand image are those associated with ensuring that your brand message and promise are effectively defined and clearly articulated. This brief analysis shows that effectively developing and executing a comprehensive company-wide brand strategy will contribute significantly to the value of t

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The Flow of Natural Resources and Raw Materials is vital to our nations Industrial Capacity and Job base. What Happened to the Mining Industry in the US? When there are reasons, which prevent us from doing the collecting of those natural resources within our own country, then and only then should we look towards our trading partners to supply us such raw materials and resources.

Companies thrive on promotion. Most companies have their people on staff whose soul purpose is to crate promotions and promotional rewards. These promotional rewards are similar to customer incentives in that they are trying to sell products to both new and loyal customer. But unlike some incentive programs which can sometimes take weeks, months, and in some cases even years to implement promotional incentives are designed to give a product an immediate boost in sales.

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