ENTERPRISE DEVELOPMENT

CUSTOMER FOCUS THROUGH VALUE CREATION


In the present day situation of consumer driven market, it is necessary to focus on the expectations of the customer.As an entrepreneur one must concentrate on the value created in a product or service. A customer buys a product only when he/she gets its real usefulness,quality and reliability and the service provided after sales. When sincerely adhered to these parameters it not only helps the entrepreneur in cost cutting but also retain the customer. In a buyer’s market it is the customer who defines the value. That means your values created by external means only through the customer/consumer. Evidently, we must focus on customers by providing good service to them and retain them almost valued partners in the supply chain/value chain.

The value chain includes the suppliers, the employees, the customers, the consumers and the share holders.In order to keep the quality one must focus on the quality of a supplier; in other words the quality of the materials, the price and just in time supply. The true value of the product or service depends on the quality of the in-puts. The consumer should satisfy with the product/service. This will result in repeat orders. A repeat order is a sign of the value created.

The most important input is the human contribution. The efficiency of the employees determines the quality of the output and thus creates the value. The efficiency is not only the skill but also the commitment of the employee for the work assigned to him/her. A satisfied worker is an asset to the company. The satisfaction comes through good pay package, welfare measures, job security, job satisfaction, status(position), etc. The shareholders look the value in financial terms and security for the money invested.

In order to achieve the goal we have to look all the above parameters through a process approach. Efficiency means doing things in the right way. An Entrepreneur, as a leader, shall do things differently.It means he/she must always focus on innovative approach. There must be continuous effort to put new ideas in the process to improve efficiency. The ultimate target shall be the customer satisfaction. In the supply chain every element plays its own role and each role is important in creating the value chain.

WE SHOULD ALWAYS REMEMBER THAT CUSTOMER IS GOD FOR THE ENTERPRISE

DECISION MAKING THROUGH PROBLEM SOLVING

DECISION MAKING THROUGH PROBLEM SOLVING

The decision making process often involve problem solving in a given situation.Planning, organizing, leading and coordinating are the key elements in a decision making process. At times decisions are to be taken at very short time,particularly when a crisis arises. In order to have a better understanding the actions shall be taken considering the following elements. There should be an organized approach to solve a problem and take appropriate decision. It must be noted that all problems cannot be solved at a time and some problem remain unsolved also .In order to make correct decisions it is necessary to understand and analyze the pros and cons .
· Define the problem
· Look at potential causes for the problem
· Identify alternatives for approaches to resolve the problem
· Select an approach to resolve the problem
· Plan the implementation of the best alternative/Action Plan
· Monitor implementation of the plan
· Verify if the problem has been resolved or not

In defining a problem it is necessary to know When, where, how, when and by whom the problem happened. Based on this information further actions shall be initiated.It is very important to note that the actions initiated may affect certain people who might have made certain mistakes unknowingly. Hence strict confidentiality should be maintained and the team involved in the decision making process must be very loyal to the company and preferably from the top management.