Superior business leader and American investor Warren Buffett is often called “Oracle of Omaha” or the “Sage of Omaha” and philanthropist. (Wikipedia, 2007) Buffett is the CEO, and the biggest shareholder of the Berkshire Hathaway Company. Buffett’s has an estimated current net worth of approximately $52 billion in US funds. Forbes Magazine ranks Buffett the third richest person in the world in September 2007 behind Carlos Slim and Bill Gates.
Warren Buffett is known for his economical and plain lifestyle. Buffett still lives in the same Omaha, Nebraska house that he purchased in 1958 for $31,500 with a current value of $700,000. In 1989, Buffett spent $9.7 million of the Berkshire’s funds on a corporate jet. He jokingly named it “The Indefensible” because of his past criticisms of such purchases by other CEOs. (Wikipedia, 2007)
Warren Buffett decided to make a commitment to give his fortune to charity back in June 2006. Buffett’s charity donation is approximately $30 billion, which is the largest donation in the history of the United States. The donation was enough to more than double the size of the foundation with 83% of it going to the Bill and Melinda Gates Foundation. Buffett believed that his family had enough money to get started in life so Buffett decided to give his fortune to charity. Buffett’s annual salary in 2006 was only $100,000. In 2007, Buffett was listed among Time Magazine’s 100 Most Influential People in the World. (Wikipedia, 2007)
What makes Warren Buffett a good business leader? This is what everyone wants to know because Warren buffet is so successful. It all starts with leadership. Warren buffet is a true leader where his leadership makes a difference in the world. Leadership is very much related to change and Warren Buffett has the capabilities of leadership change to fit the changing world. Warren Buffett has repeatedly demonstrated the ability to map read in the irregular waters of change. Is Warren Buffett born a leader? The authors of this paper believe not. Experience and research has shown little evidence that an individual who comes to power is a “born leader.” Warren Buffett took the falls that any other leader has to take. Warren Buffett learned from his mistakes and turned his mistakes into a positive thing. Warren Buffett shares his leadership at all organizational levels and Buffett is empowered to share leadership responsibilities. In the world of business, many titles related to leadership roles are actively used in business and Warren Buffett wears those titles to make him effective in multiple leadership positions in business. Distinction between good leadership and good management is made often. Managers are made to be organizational, controllers and budgeters. Warren Buffett has leadership in all three departments and one must have these traits to be a good business leader.
Another important trait in Today’s business leadership is communication. Warren Buffet is a skilled communicator in all aspects of life. Communication is the real key of leadership. Skilled communicators have an appreciation for positioning in the business world. Warren Buffet is experienced at positioning himself at the right place at the right time. Warren Buffet has the understanding of the people he is trying to reach and what he can and cannot hear from the people. Knowledge of audiences’ needs and wants gives the orator the ability to listen. Warren Buffett is an excellent listener with the ability to convey his understanding.
When Warren Buffett talks, people listen. Warren Buffett can send a message through an open door and does not have to push the message through a wall.
Leadership is crucial to any successful business and good leadership is what Warren Buffett is all about. This is what makes Warren buffet a good business leader.
Mr. Warren Buffett’s investment strategies and course of leadership are shining examples of characteristics shared by cognitive theorists. Cognitive theory is an approach of explaining behavior through perception, anticipation, and thinking. Mr. Buffett’s continual approach of analyzing both possible investment choices, market trends, and the ability to place management resources of the right caliber in the right position has consistently brought this investor to the forefront amongst peers and the marketplace. At the core of every sound investor is a creative innovator.
Innovation demands creativity. Creativity in turn draws on our cognitive faculties, across the full amplitude from emotion to reason. In the number-heavy world of global investing, innovative thinking is critical. Innovative investors decipher future trends, spot likely winners by combining science (financials) with art (acuity and perception) and continuously mitigate risk. They assess user needs, product features, the proper deployment of money, professional organizational structures and risk management. (Kore Kalibre, 2006)
Mr. Buffett’s instinct and ability to interpret market trends is also held by tight reigns. Despite over 50 years of growth, Mr. Buffett always adheres to one of the most basic business principles: “…only compete where you have a competitive advantage. Warren Buffett refers to staying within your circle of competence. Social psychologists tell us, though, that we are prone to overconfidence when it comes to assessing our abilities…” (Arthridge, 2006) A man of Warren Buffett’s position and track record could easily be derailed to a sense of over confidence. The principle of only competing within your range of competitive advantage is a principle that can be applied to many other areas in life, and Mr. Buffett’s ability to work and live by this idea has allowed him to continue forward with minimal bruising.
By establishing the previous examples, the authors can reinforce the principles of cognitive theory in that Mr. Buffett behavior patterns are clearly dictated by thought processes, which include interpretation, analysis, and foresight. “As experiences and events gain meaning and value, the process becomes increasingly top down as the mind in (a) attempt at an orderly process influences perception though beliefs, goals and external process” (Gardener, 2007)
Warren Buffett’s is a self empowered leader, because he is loyal, sets goals, plans a strategy for achievement, and stays committed until he accomplishes his purpose. Up to date, he is the greatest stockbroker of all-time. He is a very conservative investor that prefers to invest in companies that sell name brand products that he uses. For example, Coca-Cola, Gillette Razors, See’s Candy, Gulfstream Jet, and GEICO are the major companies he invested in. In the nineties his assets quadrupled in less than five years. He is a smart investor that usually does not take big investment risks. For example, he will not invest in internet stock, because the return is unpredictable. He likes to invest in companies that he is sure will be successful 20 years later. He buys the company with the intentions of keeping it forever. Usually, the management team of each company is the same staff that sold it Warren Buffett from the beginning. He stays loyal to his partners, and the team workstheir best to keep him happy.
After Warren Buffett’s wife died, he decided to donate 85% of his money to charity. However, “he wants his money to be used the same year he donates it”.(Harris, 2006) The requirement will accelerate the process to help the world. According to Fortune magazine, five-sixths of his money will go to the Bill and Melinda Gates Foundation. This foundation which focus on finding cures for diseases that are common in poor nations. The rest of the money will be split among four other charities, that are each run by his three children and one that is in his late wife’s name.
Warren Buffett is not a huge spender. In fact, he still lives in the same house he bought 40 years ago. Warren “told ABC News “Nightline” that being born into wealth did not entitle his children”(Harris, 2006). In addition, he told Fortune magazine that, “A very rich person would leave his kids enough to do anything, but not enough to do nothing.”(Harris, 2006) In other words, he wants his children to work earn their money and value hard work and smart choices.
In the year 2006, Warren’s first annual donation to the Bill and Melinda Gates Foundation was $1.5 billion and the rest was divided among the four charities. He was the first person to make a donation better than Bill Gates, the richest man in the world. It seems as if Bill Gates and Warren Buffett set a good example and lead others to be more generous, because now the Barron Hilton has committed to donating half of his fortune to charity also. Barron Hilton is the founder of the Hilton Hotels and is worth $2.3 billion. Hopefully, a trend started among the fortunate to give to the less fortunate.
The personality of Warren Buffett ties to the Social Cognitive Level, because he tries to understand and make sense of other people. He observes the differences in social knowledge when dealing with people. Social cognition refers to making sense of ourselves, others, and how the information is used. In the sixties and seventies Albert Bandura and Walter Mischel were psychologists, studying personality development. They found that social learning and cognitive principles improve ones abilities to self-regulate and to follow goals. Warren investment choices were successful, because he conditioned his the way he processed information, choices, and expectations.
References - DO Not Strip References!
Gardener, J. (2007). Cognitive Behavior Theory. Retrieved December 26, 2007, from http://www.cognitivebehavior.com/theory/index.html
Harris, D. (2006, June 26,). Warren Buffett's Unprecedented Generosity. Retrieved December 31, 2007, from http://abcnews.go.com/print?id=2118501
Kore Kalibre (2006, March-April 2006). Warren Buffett’s Innovation: Staying away from Rapid Product Innovation. Retrieved December 26, 2007, from http://www.korekalibre.com/index.php?option=com_magazine&task=show_magazine_article&magazine_id=26
Legg Mason Value Trust (2006, October 26). Legg Mason Value Trust (LMVTX) Letter to Shareholders. Retrieved December 26, 2007, from http://markets.kiplinger.com/kiplinger?GUID=323448&Page=MediaViewer&Ticker=LMVTX
Wikipedia (2007, December 25). Warren Buffett. Retrieved December 18, 2007, from http://en.wikipedia.org/wiki/Warren_Buffett
by: Michael J. Spindler
Senin, 27 Oktober 2008
How to Successfully Navigate Your Business through an Economic Downturn
An economic downturn is a phase of the business cycle in which the economy as a whole is in decline.This phase basically marks the end of the period of growth in the business cycle. Economic downturns are characterized by decreased levels of consumer purchases (especially of durable goods) and, subsequently, reduced levels of production by businesses.
While economic downturns are admittedly difficult, and are formidable obstacles to small businesses that are trying to survive and grow, an economic downturn can open up opportunities. A well-managed company can realize the opportunity to gain market share by taking customers away from their competitors. Resourceful entrepreneurs capture the available opportunities, from an economic downturn, by developing alternate methods of doing business that were never implemented during a prior growth period.
The challenge of successfully navigating your business through an economic downturn lies in the realignment of your business with current economic realities. Specifically, you, as the business owner, need to renew a focus on your core clients/customers, reduce your operating expenses, conserve cash, and manage more proactively, rather than reactively, is paramount.
Here are best practices that will help you to successfully navigate your business through an economic downturn:
Goals:
The primary goal of any business owner is to survive the current economic downturn and to develop a leaner, more cost-effective and more efficient operation. The secondary goal is to grow the business even during this current economic downturn.
Objectives:
• Conserve cash.
• Protect assets.
• Reduce costs.
• Improve efficiencies.
• Grow customer base.
Required Action:
• Do not panic… History shows that economic downturns do not last forever. Remain calm and act in a rational manner as you refocus your attention on resizing your company to the current economic conditions.
• Focus on what YOU can control… Don’t let the media's rhetoric concerning recessions and economic slowdown deter you from achieving business success. It´s a trap! Why? Because the condition of the economy is beyond your control. Surviving economic downturns requires a focus on what you can control, i.e. your relevant business activities.
• Communicate, communicate, and communicate! Beware of the pitfall of trying to do too much on your own. It is a difficult task indeed to survive and to grow your business solely with your own efforts. Solicit ideas and seek the help of other people (your employees, suppliers, lenders, customers, and advisors). Communicate honestly and consistently. Effective two-way communication is the key.
• Negotiate, negotiate, and negotiate! The value of a strong negotiation skill set cannot be overstated. Negotiating better deals and contracts is an absolute must for realigning and resizing your company to the current economic conditions. The key to success is not only knowing how to develop a win-win approach in negotiations with all parties, but also keeping in mind the fact that you want a favorable outcome for yourself too.
Recommended Best Practice Activities:
The Nuts and Bolts… The following list of recommended best practice activities is critical for your business' survival and for its growth during an economic downturn. The actual financial health of your particular business, at the outset of the economic downturn, will dictate the priority and urgency of the implementation of the following best practice activities.
1. Diligently monitor your cash flow: Forecast your cash flow monthly to ensure that expenses and planned expenditures are in line with accounts receivable. Include cash flow statements into your monthly financial reporting. Project cash requirements three-to- six months in advance. The key is to know how to monitor, protect, control, and put cash to work.
2. Carefully convert your inventories: Convert excess, obsolete, and slow-moving inventory items into cash. Consider returning excess and slow-moving items back to the suppliers. Close-out or inventory reduction sales work well to resize your inventory. Also, consider narrowing your product offerings. Well-timed order placement helps to reduce excess inventory levels and occasional material shortages. The key is to reduce the amount of your inventory without losing sales.
3. Timely collection of your accounts receivable: This asset should be converted to cash as quickly as possible. Offer prompt payment discounts to encourage timely payments. Make changes in the terms of sale for slow paying customers (i.e. changing net 30 day terms to COD). Invoicing is an important part of your cash flow management. The first rule of invoicing is to do it as soon as possible after products are shipped and/or after services are delivered. Place an emphasis on reducing billing errors. Most customers delay payments because an invoice had errors, and therefore, will not pay until they receive a corrected copy. Email or fax your invoices to save on mailing time. Post the payments that you have received and make deposits more frequently. The key is to develop an efficient collection system that generates timely payments and one that gives you advance warning of problems.
4. Re-focus your attention on your existing clients/customers: Make customer satisfaction your priority. A regular review of your customers' buying history and frequency of purchases can reveal some interesting facts about your customers' buying habits. Consider signing long-term contracts with your core clients/customers which will add to your security. Offer a discount for upfront cash payments. The key is to do what it takes to keep your current customers loyal.
5. Re-negotiate with your suppliers, lenders, and landlord:
i) Suppliers: Always keep your negotiations on the level of need, saying that your company has reviewed its cost structure and has determined that it needs to lower supplier costs. . Tell the supplier that you value the relationship you have developed, but that you need to receive a cost reduction immediately. Ask your supplier for a lower material price, a longer payment cycle, and the elimination of finance charges. Also, see if you can buy material from them on a consignment basis. In return for their price concessions, be willing to agree to a long-term contract. Explore the idea of bartering as a form of payment.
ii) Lenders: Everything in business finance is negotiable and your relationship with a bank is no exception. The first step to successful renegotiations is to convince your lenders that you can ultimately pay off the renegotiated loan. You must point out to your lenders why it would be in their best interest to agree to a new arrangement. Showing them your business plan and your action plan that includes your cost-savings initiatives, along with "the how" and "the when" of the implementation of your plan is the best way to achieve this goal. Explain to them that you will need their cooperation to insure that you can survive, as well as, grow your business during the economic downturn. Negotiated items include: the rate of interest, the required security to cover the loan, and the beginning date for repayment. A beginning date for repayment could be immediate, within several months or as long as a year. The key is to realize that your lender will work with you, but that frequent and continual communications with them is critical.
iii) Landlord: Meet with your landlord. Explain your need to have them extend the term of your lease at a reduced cost. Make sure you have a clause in the lease agreement that entitles you to have the right to sublet any or all of the leased space.
6. Re-evaluate your staffing requirements: This is a very critical area. Salaries/wages are a major expense of doing business. Therefore, any reduction in the hours worked through work schedule changes, short-term layoffs or permanent layoffs has an immediate cost saving benefit. Most companies ramped up hiring new employees in the good times, only to find that they are currently overstaffed due to slow sales during the economic downturn. In terms of down-sizing your staff, be very careful not to reduce your staff to a level that forces you to skimp on customer service and quality. Consider the use of part-timers or the current trend of outsourcing certain functions to independent contractors.
7. Shop for better insurances rates: Get quotations from other insurance agents for comparable coverage to determine whether or not your present insurance carrier is competitive. Also, consider revising your coverage to reduce premium costs. The key is to have the right balance-to be adequately insured, but not under or over insured.
8. Re-evaluate your advertising: Contrary to the other cost-cutting initiatives, evaluate the possibility of increasing your advertising expenditures. This tactic realizes the advantage of the reduced "noise" and congestion (fewer advertisers) in the marketplace. The downturn period a great opportunity to increase brand awareness and create additional demand for your product/service offerings.
9. Seek the help of outside advisors: The use of an advisory board comprised of your CPA, attorney, and business consultant offers you objectivity and provides you with professional advice and guidance. Their collective experience in working with similar situations in past economic downturns is invaluable.
10. Review your other expenses: Target an across-the-board cost-cutting initiative of 10-15%. Attempt to eliminate unnecessary expenses. Tightening your belt in order to weather the downturn makes practical, financial sense.
Proactively managing your business through an economic downturn is an enormous challenge and is critical for your survival. However, through well-planned initiatives, an economic downturn can create tremendous opportunity for your company to gain greater market share. In order to take advantage of this growth opportunity, you must act quickly to implement the above best business practices to continue realigning and resizing your company to the current economic conditions.
Copyright © 2008 Terry H. Hill
You may reprint this article free of charge in your newsletter, magazine, or on your website, provided that the article is unedited, and that the copyright, author's bio, and contact information below appears with each article. Articles appearing on the web must provide a hyperlink to the author's web site, http://www.legacyai.com
Terry H. Hill is the founder and managing partner of Legacy Associates, Inc, a business consulting and advisory services firm. A veteran chief executive, Terry works directly with business owners of privately held companies on the issues and challenges that they face in each stage of their business life cycle. To find out how he can help you take your business to the next level, visit his site at http://www.legacyai.com
To download a copy of this article, click on this link: http://www.legacyai.com/Article_Downturn.html.
by: Terry H Hill
While economic downturns are admittedly difficult, and are formidable obstacles to small businesses that are trying to survive and grow, an economic downturn can open up opportunities. A well-managed company can realize the opportunity to gain market share by taking customers away from their competitors. Resourceful entrepreneurs capture the available opportunities, from an economic downturn, by developing alternate methods of doing business that were never implemented during a prior growth period.
The challenge of successfully navigating your business through an economic downturn lies in the realignment of your business with current economic realities. Specifically, you, as the business owner, need to renew a focus on your core clients/customers, reduce your operating expenses, conserve cash, and manage more proactively, rather than reactively, is paramount.
Here are best practices that will help you to successfully navigate your business through an economic downturn:
Goals:
The primary goal of any business owner is to survive the current economic downturn and to develop a leaner, more cost-effective and more efficient operation. The secondary goal is to grow the business even during this current economic downturn.
Objectives:
• Conserve cash.
• Protect assets.
• Reduce costs.
• Improve efficiencies.
• Grow customer base.
Required Action:
• Do not panic… History shows that economic downturns do not last forever. Remain calm and act in a rational manner as you refocus your attention on resizing your company to the current economic conditions.
• Focus on what YOU can control… Don’t let the media's rhetoric concerning recessions and economic slowdown deter you from achieving business success. It´s a trap! Why? Because the condition of the economy is beyond your control. Surviving economic downturns requires a focus on what you can control, i.e. your relevant business activities.
• Communicate, communicate, and communicate! Beware of the pitfall of trying to do too much on your own. It is a difficult task indeed to survive and to grow your business solely with your own efforts. Solicit ideas and seek the help of other people (your employees, suppliers, lenders, customers, and advisors). Communicate honestly and consistently. Effective two-way communication is the key.
• Negotiate, negotiate, and negotiate! The value of a strong negotiation skill set cannot be overstated. Negotiating better deals and contracts is an absolute must for realigning and resizing your company to the current economic conditions. The key to success is not only knowing how to develop a win-win approach in negotiations with all parties, but also keeping in mind the fact that you want a favorable outcome for yourself too.
Recommended Best Practice Activities:
The Nuts and Bolts… The following list of recommended best practice activities is critical for your business' survival and for its growth during an economic downturn. The actual financial health of your particular business, at the outset of the economic downturn, will dictate the priority and urgency of the implementation of the following best practice activities.
1. Diligently monitor your cash flow: Forecast your cash flow monthly to ensure that expenses and planned expenditures are in line with accounts receivable. Include cash flow statements into your monthly financial reporting. Project cash requirements three-to- six months in advance. The key is to know how to monitor, protect, control, and put cash to work.
2. Carefully convert your inventories: Convert excess, obsolete, and slow-moving inventory items into cash. Consider returning excess and slow-moving items back to the suppliers. Close-out or inventory reduction sales work well to resize your inventory. Also, consider narrowing your product offerings. Well-timed order placement helps to reduce excess inventory levels and occasional material shortages. The key is to reduce the amount of your inventory without losing sales.
3. Timely collection of your accounts receivable: This asset should be converted to cash as quickly as possible. Offer prompt payment discounts to encourage timely payments. Make changes in the terms of sale for slow paying customers (i.e. changing net 30 day terms to COD). Invoicing is an important part of your cash flow management. The first rule of invoicing is to do it as soon as possible after products are shipped and/or after services are delivered. Place an emphasis on reducing billing errors. Most customers delay payments because an invoice had errors, and therefore, will not pay until they receive a corrected copy. Email or fax your invoices to save on mailing time. Post the payments that you have received and make deposits more frequently. The key is to develop an efficient collection system that generates timely payments and one that gives you advance warning of problems.
4. Re-focus your attention on your existing clients/customers: Make customer satisfaction your priority. A regular review of your customers' buying history and frequency of purchases can reveal some interesting facts about your customers' buying habits. Consider signing long-term contracts with your core clients/customers which will add to your security. Offer a discount for upfront cash payments. The key is to do what it takes to keep your current customers loyal.
5. Re-negotiate with your suppliers, lenders, and landlord:
i) Suppliers: Always keep your negotiations on the level of need, saying that your company has reviewed its cost structure and has determined that it needs to lower supplier costs. . Tell the supplier that you value the relationship you have developed, but that you need to receive a cost reduction immediately. Ask your supplier for a lower material price, a longer payment cycle, and the elimination of finance charges. Also, see if you can buy material from them on a consignment basis. In return for their price concessions, be willing to agree to a long-term contract. Explore the idea of bartering as a form of payment.
ii) Lenders: Everything in business finance is negotiable and your relationship with a bank is no exception. The first step to successful renegotiations is to convince your lenders that you can ultimately pay off the renegotiated loan. You must point out to your lenders why it would be in their best interest to agree to a new arrangement. Showing them your business plan and your action plan that includes your cost-savings initiatives, along with "the how" and "the when" of the implementation of your plan is the best way to achieve this goal. Explain to them that you will need their cooperation to insure that you can survive, as well as, grow your business during the economic downturn. Negotiated items include: the rate of interest, the required security to cover the loan, and the beginning date for repayment. A beginning date for repayment could be immediate, within several months or as long as a year. The key is to realize that your lender will work with you, but that frequent and continual communications with them is critical.
iii) Landlord: Meet with your landlord. Explain your need to have them extend the term of your lease at a reduced cost. Make sure you have a clause in the lease agreement that entitles you to have the right to sublet any or all of the leased space.
6. Re-evaluate your staffing requirements: This is a very critical area. Salaries/wages are a major expense of doing business. Therefore, any reduction in the hours worked through work schedule changes, short-term layoffs or permanent layoffs has an immediate cost saving benefit. Most companies ramped up hiring new employees in the good times, only to find that they are currently overstaffed due to slow sales during the economic downturn. In terms of down-sizing your staff, be very careful not to reduce your staff to a level that forces you to skimp on customer service and quality. Consider the use of part-timers or the current trend of outsourcing certain functions to independent contractors.
7. Shop for better insurances rates: Get quotations from other insurance agents for comparable coverage to determine whether or not your present insurance carrier is competitive. Also, consider revising your coverage to reduce premium costs. The key is to have the right balance-to be adequately insured, but not under or over insured.
8. Re-evaluate your advertising: Contrary to the other cost-cutting initiatives, evaluate the possibility of increasing your advertising expenditures. This tactic realizes the advantage of the reduced "noise" and congestion (fewer advertisers) in the marketplace. The downturn period a great opportunity to increase brand awareness and create additional demand for your product/service offerings.
9. Seek the help of outside advisors: The use of an advisory board comprised of your CPA, attorney, and business consultant offers you objectivity and provides you with professional advice and guidance. Their collective experience in working with similar situations in past economic downturns is invaluable.
10. Review your other expenses: Target an across-the-board cost-cutting initiative of 10-15%. Attempt to eliminate unnecessary expenses. Tightening your belt in order to weather the downturn makes practical, financial sense.
Proactively managing your business through an economic downturn is an enormous challenge and is critical for your survival. However, through well-planned initiatives, an economic downturn can create tremendous opportunity for your company to gain greater market share. In order to take advantage of this growth opportunity, you must act quickly to implement the above best business practices to continue realigning and resizing your company to the current economic conditions.
Copyright © 2008 Terry H. Hill
You may reprint this article free of charge in your newsletter, magazine, or on your website, provided that the article is unedited, and that the copyright, author's bio, and contact information below appears with each article. Articles appearing on the web must provide a hyperlink to the author's web site, http://www.legacyai.com
Terry H. Hill is the founder and managing partner of Legacy Associates, Inc, a business consulting and advisory services firm. A veteran chief executive, Terry works directly with business owners of privately held companies on the issues and challenges that they face in each stage of their business life cycle. To find out how he can help you take your business to the next level, visit his site at http://www.legacyai.com
To download a copy of this article, click on this link: http://www.legacyai.com/Article_Downturn.html.
by: Terry H Hill
Internet Marketing Companies, Online Marketing Degree, Online Marketing Service
ONLINE MARKETING SERVICE
Online Marketing Service, also referred to as Internet marketing service is about using the Internet as another channel to market your business or organization. It’s about broadening your Web visibility, attracting qualified visitors to your website or getting interested people to email or call without even needing to come to your site. When visitors do come, through on-site marketing efforts and strong features, you lead them to do what you want them to do: fill out a form, register for an event or make a purchase from you through the internet usage. Some people would be eased to make their necessary work about their company by providing online worker from other place to make their job more easy to do.
Online Marketing Service builds, executes and measures direct response strategies using the Internet. Some key areas that the company should consider to concentrate on are acquisition of specific information, retention of the data being given on the site, awareness of how the site should be handled, optimization of the site content and behavior, and conversion of details through a more useful resource to the users online.
Here are some of the processes that the company should consider in getting their online marketing more effective:
1. Define Your Goal - work together with every member of your company to help clearly define exactly what it is you want to accomplish towards a more fruitful future using the online marketing service and how to set up goals which are important to the company.
2. Develop the Plan – the company should develop strategic, effective and measurable direct response marketing plans designed to achieve the company goals. Through the company's efforts of each member, a more suitable and easy way of conducting the plan can be performed.
3. Execute the Plan - provide capable and experienced project management throughout the entire implementation process. Each member of the company should be reliable, thorough, well-connected, and determined to make satisfied clients that are connected to the company. With these at hand, satisfied clients are willing to cooperate and pay more for the efforts of the company.
4. Measure the Results - No online marketing campaign is complete without measuring the results. Internet marketing strategies take tracking and measuring of the clients website advertisements before implementation occurs. This way, the company can measure their effectiveness to the clients as well as how better they know their company's effectiveness in the process. With the good results that the company is displaying, more and more clients are willing to be with the company and won't have second thoughts of paying a good amount for a good service that the company offers. Clients' satisfaction are very vital when it comes to consideration about the company's main goal.
ONLINE MARKETING DEGREE
Online Marketing Degree generally refers to the degrees that are offered in the internet through advertisements and well-presented by different courses that are being offered by the colleges and universities throughout the globe. It most likely want to prepare individuals in undertaking and managing the process of developing consumer audiences and moving products from producers to consumers by the use of the internet.
A more easy way to determine whether you're making the right decision in improving and pursuing your career as student is to continue studying and taking one of the major courses that the college or university offers. Online Marketing Degree includes instruction in buyer behavior and dynamics, principle of marketing research, demand analysis, cost-volume and profit relationships, pricing theory, marketing campaign and strategic planning, market segments, advertising methods, sales operations and management, consumer relations, retailing, and applications to specific products and markets.
Many colleges and universities have come up with the idea of advertising their different online courses because through this, a more practical, faster and easier way of advertising through the web can be seen and noticed. They will no longer have to make certain advertisements through television and radios just around their country but through online marketing service. The degrees that they offer will be seen by anyone from anywhere around the globe by the use of the internet. An effective way of advertising without the high costing.
A slight example on the online marketing degree is the Bachelor of Science in Business Administration – Marketing (B.S.B.A./MKT.) which puts working professionals on a clear path to lifelong learning and success. Maximizing their career opportunities, making important contributions to the profession, reaching the potential—that define success.
Through a program that combines academic theory with practical application, and includes courses in Ethical Leadership and in Social Responsibility, the students will gain knowledge and experience in areas vital to business and society. This concentration will help the students develop insights into an organization’s marketing effort by learning not only the traditional disciplines of alternate marketing channels, sales management, advertising and research, but also emerging marketing approaches related to consumer motivation, global customer management, customer relationship management, and marketing on the Internet.
Another example of an online marketing degree is the Master of Business Administration in Marketing (M.B.A./MKT.), it provides students with the ability to examine the relationship between marketing and corporate strategy and the tools necessary for developing and implementing strong marketing tactics throughout the companies in which they work. Through a hands-on curriculum including case analyses, this specialization lays the practical groundwork necessary for students interested in strengthening or furthering their career as a marketing professional or decision maker.
INTERNET MARKETING COMPANIES
Internet Marketing is a broad term that can include everything from pay-per-click management to a full-blown online marketing campaign that builds traffic and tracks site visitors to increase conversions from all mediums. Internet Marketing can be thought as encompassing all of the following disciplines: search engine optimization, pay-per-click management, link building and affiliate marketing.
Internet Marketing Companies work solely towards getting their client’s product or services marketed online, and this is really becoming something that modern businesses can’t live without. Obviously, an Internet marketing company can’t use the same techniques that a traditional advertising agency would use, such as television commercials and special promotions.
The things that an Internet marketing company can do are pretty amazing, though, because the costs are fairly low and the results can potentially reach a global audience. The interactive nature of Internet marketing, which allows businesses to draw out an instant response from potential customers, is a unique quality of the medium. Internet marketing companies can bring creative and technical aspects together, including design, development, advertising and sales. Internet marketing methods include search engine optimization, pay per click management, display advertising, email marketing, interactive advertising, blog marketing, and viral marketing.
The services that an Internet marketing Company offers aren’t always something tangible that people can see, although things like banner ads and social media marketing (using sites like MySpace) are quite visible. Things like search engine optimization and pay per click management are more intangible, but they help promote a website by placing it where people will see it when they are looking for that type of product or service. Internet marketing companies grow and promote an organization using online media.
An Internet marketing company does not simply build a website or promote a website… They make that website visible to people who are likely to become real paying customers. For some reasons, people are making easier ways of advertising their products and news through the Internet because of its lower cost and its effectiveness. Consumers can see the products and massive orders and requests could be in any instant on line with the company which provides the products.
An online marketing campaign is necessary these days with the Internet become bigger and bigger by the day. Therefore, it is crucial to hire an effective Internet marketing company to help your business achieve the online results you are looking for.
Since the advent of the World Wide Web, there have been many new evolutions to online marketing. Thankfully, there are many Internet marketing companies that can show you the ropes about the industry so that you can capitalize with your online venture.
There is a wide variety of items that a quality Internet marketing company can provide to your business. One of the main sources of online marketing is in search engine optimization, commonly referred to as SEO. This process simply refers to the act of ensuring that your website appears in the top of the major search engines such as Google, Yahoo and MSN. This is achieved by submitting articles and keyword phrases all over the Internet because the more links that your website has on the Net, the higher your search engine ranking will be. Since most customers will choose to use the services of a company that is among the top ten in the search engines, SEO can work wonders for your online venture.
However, an Internet marketing company also has many other services that can benefit your business. Many of these particular companies also provide website designing and graphic design help that will make your website much more appealing to the public. If you search hard enough, you will be able to find a quality company that will produce your website from the ground up and then use SEO to ensure that your site gets the recognition it deserves.
by: Jan Michael Balasa
Online Marketing Service, also referred to as Internet marketing service is about using the Internet as another channel to market your business or organization. It’s about broadening your Web visibility, attracting qualified visitors to your website or getting interested people to email or call without even needing to come to your site. When visitors do come, through on-site marketing efforts and strong features, you lead them to do what you want them to do: fill out a form, register for an event or make a purchase from you through the internet usage. Some people would be eased to make their necessary work about their company by providing online worker from other place to make their job more easy to do.
Online Marketing Service builds, executes and measures direct response strategies using the Internet. Some key areas that the company should consider to concentrate on are acquisition of specific information, retention of the data being given on the site, awareness of how the site should be handled, optimization of the site content and behavior, and conversion of details through a more useful resource to the users online.
Here are some of the processes that the company should consider in getting their online marketing more effective:
1. Define Your Goal - work together with every member of your company to help clearly define exactly what it is you want to accomplish towards a more fruitful future using the online marketing service and how to set up goals which are important to the company.
2. Develop the Plan – the company should develop strategic, effective and measurable direct response marketing plans designed to achieve the company goals. Through the company's efforts of each member, a more suitable and easy way of conducting the plan can be performed.
3. Execute the Plan - provide capable and experienced project management throughout the entire implementation process. Each member of the company should be reliable, thorough, well-connected, and determined to make satisfied clients that are connected to the company. With these at hand, satisfied clients are willing to cooperate and pay more for the efforts of the company.
4. Measure the Results - No online marketing campaign is complete without measuring the results. Internet marketing strategies take tracking and measuring of the clients website advertisements before implementation occurs. This way, the company can measure their effectiveness to the clients as well as how better they know their company's effectiveness in the process. With the good results that the company is displaying, more and more clients are willing to be with the company and won't have second thoughts of paying a good amount for a good service that the company offers. Clients' satisfaction are very vital when it comes to consideration about the company's main goal.
ONLINE MARKETING DEGREE
Online Marketing Degree generally refers to the degrees that are offered in the internet through advertisements and well-presented by different courses that are being offered by the colleges and universities throughout the globe. It most likely want to prepare individuals in undertaking and managing the process of developing consumer audiences and moving products from producers to consumers by the use of the internet.
A more easy way to determine whether you're making the right decision in improving and pursuing your career as student is to continue studying and taking one of the major courses that the college or university offers. Online Marketing Degree includes instruction in buyer behavior and dynamics, principle of marketing research, demand analysis, cost-volume and profit relationships, pricing theory, marketing campaign and strategic planning, market segments, advertising methods, sales operations and management, consumer relations, retailing, and applications to specific products and markets.
Many colleges and universities have come up with the idea of advertising their different online courses because through this, a more practical, faster and easier way of advertising through the web can be seen and noticed. They will no longer have to make certain advertisements through television and radios just around their country but through online marketing service. The degrees that they offer will be seen by anyone from anywhere around the globe by the use of the internet. An effective way of advertising without the high costing.
A slight example on the online marketing degree is the Bachelor of Science in Business Administration – Marketing (B.S.B.A./MKT.) which puts working professionals on a clear path to lifelong learning and success. Maximizing their career opportunities, making important contributions to the profession, reaching the potential—that define success.
Through a program that combines academic theory with practical application, and includes courses in Ethical Leadership and in Social Responsibility, the students will gain knowledge and experience in areas vital to business and society. This concentration will help the students develop insights into an organization’s marketing effort by learning not only the traditional disciplines of alternate marketing channels, sales management, advertising and research, but also emerging marketing approaches related to consumer motivation, global customer management, customer relationship management, and marketing on the Internet.
Another example of an online marketing degree is the Master of Business Administration in Marketing (M.B.A./MKT.), it provides students with the ability to examine the relationship between marketing and corporate strategy and the tools necessary for developing and implementing strong marketing tactics throughout the companies in which they work. Through a hands-on curriculum including case analyses, this specialization lays the practical groundwork necessary for students interested in strengthening or furthering their career as a marketing professional or decision maker.
INTERNET MARKETING COMPANIES
Internet Marketing is a broad term that can include everything from pay-per-click management to a full-blown online marketing campaign that builds traffic and tracks site visitors to increase conversions from all mediums. Internet Marketing can be thought as encompassing all of the following disciplines: search engine optimization, pay-per-click management, link building and affiliate marketing.
Internet Marketing Companies work solely towards getting their client’s product or services marketed online, and this is really becoming something that modern businesses can’t live without. Obviously, an Internet marketing company can’t use the same techniques that a traditional advertising agency would use, such as television commercials and special promotions.
The things that an Internet marketing company can do are pretty amazing, though, because the costs are fairly low and the results can potentially reach a global audience. The interactive nature of Internet marketing, which allows businesses to draw out an instant response from potential customers, is a unique quality of the medium. Internet marketing companies can bring creative and technical aspects together, including design, development, advertising and sales. Internet marketing methods include search engine optimization, pay per click management, display advertising, email marketing, interactive advertising, blog marketing, and viral marketing.
The services that an Internet marketing Company offers aren’t always something tangible that people can see, although things like banner ads and social media marketing (using sites like MySpace) are quite visible. Things like search engine optimization and pay per click management are more intangible, but they help promote a website by placing it where people will see it when they are looking for that type of product or service. Internet marketing companies grow and promote an organization using online media.
An Internet marketing company does not simply build a website or promote a website… They make that website visible to people who are likely to become real paying customers. For some reasons, people are making easier ways of advertising their products and news through the Internet because of its lower cost and its effectiveness. Consumers can see the products and massive orders and requests could be in any instant on line with the company which provides the products.
An online marketing campaign is necessary these days with the Internet become bigger and bigger by the day. Therefore, it is crucial to hire an effective Internet marketing company to help your business achieve the online results you are looking for.
Since the advent of the World Wide Web, there have been many new evolutions to online marketing. Thankfully, there are many Internet marketing companies that can show you the ropes about the industry so that you can capitalize with your online venture.
There is a wide variety of items that a quality Internet marketing company can provide to your business. One of the main sources of online marketing is in search engine optimization, commonly referred to as SEO. This process simply refers to the act of ensuring that your website appears in the top of the major search engines such as Google, Yahoo and MSN. This is achieved by submitting articles and keyword phrases all over the Internet because the more links that your website has on the Net, the higher your search engine ranking will be. Since most customers will choose to use the services of a company that is among the top ten in the search engines, SEO can work wonders for your online venture.
However, an Internet marketing company also has many other services that can benefit your business. Many of these particular companies also provide website designing and graphic design help that will make your website much more appealing to the public. If you search hard enough, you will be able to find a quality company that will produce your website from the ground up and then use SEO to ensure that your site gets the recognition it deserves.
by: Jan Michael Balasa
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