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Frank O’Tools asked:
On customer service training courses one of the key questions is, what is customer service? And are the customers always right. Every ones perception of customer service is different; there are common threads to most customer service training courses.
I have used the word perception in the first paragraph and it really is one of the most important words to remember, as good customer service or bad customer service really is down to perception.
I recall shortly after 9/11 I was travelling to Florida, we were supposed to change flights in Newark, but what happened was the flight was late landing in Newark and we missed the connection flight to Florida.
The reason given for the delay was that the flight had to change its flight path due to the recent tragedy at the World Trade Centre. Although this was understandable it was still amazing to watch the reactions of the customers like us, who were affected by missing connecting flights.
From a customer service view point, it was obvious to see that the airline staff had been through some level of customer service training. They apologized, showed empathy offered options and tried their utmost to calm some of the more difficult customers, just the type of key skills one would learn on a customer service training course.
Just as we are always taught on customer service training courses, put yourself in the customers shoes, and offer options, the airline staff offered free accommodation and meals for those who had to wait overnight etc. The customer service training had really paid off, or so I thought.
Unfortunately when we were being transported by coach to the nearby hotels many of the customers were not happy with the service. At least 50% of customers felt the service was poor as it should not have happened in the first place. Although they did feel the people dealing with the problem did show good customer service skills they felt they would be reluctant to travel with the airline again.
The other 50% understood the problem and although were not happy about missing the connecting flights felt the customer service skills the staff had show were excellent and they had done their utmost to resolve a situation they had no control over.
That evening I learned 2 crucial lessons about customer service. I learned that approximately 40 customers had received the very same service but their perceptions of the customer service they received were very different.
I also learned that customer service training should really concentrate on 2 key areas the first being the personal service the client receives from an individual or a company. The second being customer service training courses should also concentrate on the performance or standards of service.
Both sets of customers were right the personal service was excellent; however the standards of performance were poor. With this in mind all customer service training courses should concentrate on the 2 Ps of customer service training.
Personal and Performance
On customer service training courses one of the key questions is, what is customer service? And are the customers always right. Every ones perception of customer service is different; there are common threads to most customer service training courses.
I have used the word perception in the first paragraph and it really is one of the most important words to remember, as good customer service or bad customer service really is down to perception.
I recall shortly after 9/11 I was travelling to Florida, we were supposed to change flights in Newark, but what happened was the flight was late landing in Newark and we missed the connection flight to Florida.
The reason given for the delay was that the flight had to change its flight path due to the recent tragedy at the World Trade Centre. Although this was understandable it was still amazing to watch the reactions of the customers like us, who were affected by missing connecting flights.
From a customer service view point, it was obvious to see that the airline staff had been through some level of customer service training. They apologized, showed empathy offered options and tried their utmost to calm some of the more difficult customers, just the type of key skills one would learn on a customer service training course.
Just as we are always taught on customer service training courses, put yourself in the customers shoes, and offer options, the airline staff offered free accommodation and meals for those who had to wait overnight etc. The customer service training had really paid off, or so I thought.
Unfortunately when we were being transported by coach to the nearby hotels many of the customers were not happy with the service. At least 50% of customers felt the service was poor as it should not have happened in the first place. Although they did feel the people dealing with the problem did show good customer service skills they felt they would be reluctant to travel with the airline again.
The other 50% understood the problem and although were not happy about missing the connecting flights felt the customer service skills the staff had show were excellent and they had done their utmost to resolve a situation they had no control over.
That evening I learned 2 crucial lessons about customer service. I learned that approximately 40 customers had received the very same service but their perceptions of the customer service they received were very different.
I also learned that customer service training should really concentrate on 2 key areas the first being the personal service the client receives from an individual or a company. The second being customer service training courses should also concentrate on the performance or standards of service.
Both sets of customers were right the personal service was excellent; however the standards of performance were poor. With this in mind all customer service training courses should concentrate on the 2 Ps of customer service training.
Personal and Performance
Mal Mortoo asked:
After this article concludes, you will have learned that most people do a 9-5 job because they have no other option. Given a chance, we would all like to be at home, do things the way we want, spend more time with our family, play our favorite sport or give shape to a hobby. Thanks to the Internet, we have in our hands a powerful weapon that can give us more time, more flexibility and yes, the freedom to do a successful business that we’ve always cherished. The key is online marketing. Online marketing involves promotion or marketing of a product or service online. There are many who work from home and do a fabulous job. They earn a lot of money and also save on their time, which would have gone into commuting and spending hours at work. However, online marketing is a fairly new concept which is spreading like wildfire. Still, there are some who are apprehensive of doing business online.
Let us look at some of the problems involved in online marketing and their solutions:
Problems:
1. I am not computer literate. This is not for me.
2. What if I am cheated?
3. I do not know how to do business online.
4. What if I lose my focus?
Solutions:
1. It is not necessary to be exceptionally good with computers. A basic knowledge of computers and usage of internet is enough. A trusted friend, a family member or the person you’re working with will gladly help you. However the best thing will be to invest in a computer course to learn the basics.
2. Trust reliable companies. Of course, there are a lot of companies that advertise ‘get rich quick’ schemes and ‘fast money’ programs. Stay away from those. Look for reputed companies that have excellent third party reviews or feedback online.
3. You can start a blog or a website of your own and apply for the Google AdSense code. You will get contextual advertisement on your website and if anyone clicks on the ad on your site, you will make money. Apart from Google, there are other online advertising companies also like Yahoo, MSN, MIVA, AdBrite, etc. You can also make money recommending the products and services of other people; the concept is called affiliate marketing. Some of the major affiliate advertising companies online are Clickbank, Commission Junction and Amazon. You can also be paid for reviewing a product, service or a website. There are various online research companies that pay you for doing online market research and surveys. You can also do Network Marketing, Direct Sales or MLM online.
4. Since you will be working alone with your computer at home, you may lose your focus if you are being disturbed by issues or problems with your family. Under such circumstances, you should make sure to allocate a certain amount of time only for your business. Keep your home office separate and away from distractions and noise. Finally have the belief that you will succeed and work towards realizing it.
Actions:
Strategies for Researching the Market
Do research and find some of the finest programs online that pay you well. I have mentioned some of them above. Researching your market is perhaps the easiest way to assess it. Market research does not have to be costly, nor does it have to be a complex process. It can be as simple and as easy as surveying a cross-section of your consumers (focus group) to get their opinions about the product or service you will be offering, or conducting a telephone or mail survey. The disadvantages of using the telephone or mail survey method are the individuals you contact may not be interested in responding to a survey. Other market research techniques include analyzing demographic data, such as population growth/decline rate; age range, sex, income/educational level; brainstorming with family and friends, focus group interviews. Whatever method you use, your focus should be on gathering enough information to determine who your potential customers are – their needs, wants and expectations; if there is a demand for your product or service; who your competitors are and how well they are doing.
Market research is an invaluable tool that can save you time, effort and money. You should start your online business and make sure to keep a persistent, consistent, focus in your approach and the results will follow. One of the best things about using Online Marketing to make money is that you won’t be stuck in the 9-5 grind. You can say goodbye to long commutes and moody bosses and co-workers. You will decide when, where, and how long to work. Best of all, as a home-based business owner, you’ll decide the size of your paycheck.
After this article concludes, you will have learned that most people do a 9-5 job because they have no other option. Given a chance, we would all like to be at home, do things the way we want, spend more time with our family, play our favorite sport or give shape to a hobby. Thanks to the Internet, we have in our hands a powerful weapon that can give us more time, more flexibility and yes, the freedom to do a successful business that we’ve always cherished. The key is online marketing. Online marketing involves promotion or marketing of a product or service online. There are many who work from home and do a fabulous job. They earn a lot of money and also save on their time, which would have gone into commuting and spending hours at work. However, online marketing is a fairly new concept which is spreading like wildfire. Still, there are some who are apprehensive of doing business online.
Let us look at some of the problems involved in online marketing and their solutions:
Problems:
1. I am not computer literate. This is not for me.
2. What if I am cheated?
3. I do not know how to do business online.
4. What if I lose my focus?
Solutions:
1. It is not necessary to be exceptionally good with computers. A basic knowledge of computers and usage of internet is enough. A trusted friend, a family member or the person you’re working with will gladly help you. However the best thing will be to invest in a computer course to learn the basics.
2. Trust reliable companies. Of course, there are a lot of companies that advertise ‘get rich quick’ schemes and ‘fast money’ programs. Stay away from those. Look for reputed companies that have excellent third party reviews or feedback online.
3. You can start a blog or a website of your own and apply for the Google AdSense code. You will get contextual advertisement on your website and if anyone clicks on the ad on your site, you will make money. Apart from Google, there are other online advertising companies also like Yahoo, MSN, MIVA, AdBrite, etc. You can also make money recommending the products and services of other people; the concept is called affiliate marketing. Some of the major affiliate advertising companies online are Clickbank, Commission Junction and Amazon. You can also be paid for reviewing a product, service or a website. There are various online research companies that pay you for doing online market research and surveys. You can also do Network Marketing, Direct Sales or MLM online.
4. Since you will be working alone with your computer at home, you may lose your focus if you are being disturbed by issues or problems with your family. Under such circumstances, you should make sure to allocate a certain amount of time only for your business. Keep your home office separate and away from distractions and noise. Finally have the belief that you will succeed and work towards realizing it.
Actions:
Strategies for Researching the Market
Do research and find some of the finest programs online that pay you well. I have mentioned some of them above. Researching your market is perhaps the easiest way to assess it. Market research does not have to be costly, nor does it have to be a complex process. It can be as simple and as easy as surveying a cross-section of your consumers (focus group) to get their opinions about the product or service you will be offering, or conducting a telephone or mail survey. The disadvantages of using the telephone or mail survey method are the individuals you contact may not be interested in responding to a survey. Other market research techniques include analyzing demographic data, such as population growth/decline rate; age range, sex, income/educational level; brainstorming with family and friends, focus group interviews. Whatever method you use, your focus should be on gathering enough information to determine who your potential customers are – their needs, wants and expectations; if there is a demand for your product or service; who your competitors are and how well they are doing.
Market research is an invaluable tool that can save you time, effort and money. You should start your online business and make sure to keep a persistent, consistent, focus in your approach and the results will follow. One of the best things about using Online Marketing to make money is that you won’t be stuck in the 9-5 grind. You can say goodbye to long commutes and moody bosses and co-workers. You will decide when, where, and how long to work. Best of all, as a home-based business owner, you’ll decide the size of your paycheck.
Gregg Elberg asked:
There is a reason why accounts receivable financing is a four thousand year old financing technique: it works. Accounts receivable financing, factoring, and asset based financing all mean the same thing as related to asset based lending- invoices are sold or pledged to a third party, usually a commercial finance company (sometimes a bank) to accelerate cash flow.
In simple terms, the process follows these steps. A business sells and delivers a product or service to another business. The customer receives an invoice. The business requests funding from the financing entity and a percentage of the invoice (usually 80% to 90%) is transferred to the business by the financing entity. The customer pays the invoice directly to the financing entity. The agreed upon fees are deducted and the remainder is rebated to the business by the financing entity.
How does the customer know to pay the financing entity instead of the business they are receiving goods or services from? The legal term is called “notification”. The financing entity informs the customer in writing of the financing agreement and the customer must agree in writing to this arrangement. In general, if the customer refuses to agree in writing to pay the lender instead of the business providing the goods or services, the financing entity will decline to advance funds.
Why? The main security for the financing entity to be repaid is the creditworthiness of the customer paying the invoice. Before funds are advanced to the business there is a second step called “verification”. The finance entity verifies with the customer that the goods have been received or the services were performed satisfactorily. There being no dispute, it is reasonable for the financing entity to assume that the invoice will be paid; therefore funds are advanced. This is a general view of how the accounts receivable financing process works.
Non-notification accounts receivable financing is a type of confidential factoring where the customers are not notified of the business’ financing arrangement with the financing entity. One typical situation involves a business that sells inexpensive items to thousands of customers; the cost of notification and verification is excessive compared to the risk of nonpayment by an individual customer. It simply may not make economic sense for the financing entity to have several employees contacting hundreds of customers for one financing customer’s transactions on a daily basis.
Non-notification factoring may require additional collateral requirements such as real estate; superior credit of the borrowing business may also be required with personal guarantees from the owners. It is more difficult to obtain non-notification factoring than the normal accounts receivable financing with notification and verification provisions.
Some businesses worry that if their customers learn that a commercial financing entity is factoring their receivables it may hurt their relationship with their customer; perhaps they may loose the customer’s business. What is this worry, why does it exist and is it justified?
The MSN Encarta Dictionary defines the word worry as:
“Worry
verb (past and past participle wor•ried, present participle wor•ry•ing, 3rd person present singular wor•ries)Definition: 1. transitive and intransitive verb be or make anxious: to feel anxious about something unpleasant that may have happened or may happen, or make somebody do this
2. transitive verb annoy somebody: to annoy somebody by making insistent demands or complaints
3. transitive verb try to bite animal: to try to wound or kill an animal by biting it
a dog suspected of worrying sheep
4. transitive verb
Same as worry at
5. intransitive verb proceed despite problems: to proceed persistently despite problems or obstacles
6. transitive verb touch something repeatedly: to touch, move, or interfere with something repeatedly
Stop worrying that button or it’ll come off.
noun (plural wor•ries)Definition: 1. anxiousness: a troubled unsettled feeling
2. cause of anxiety: something that causes anxiety or concern
3. period of anxiety: a period spent feeling anxious or concerned…”
The opposite is:
”not to worry used to tell somebody that something is not important and need not be a cause of concern (informal)
Not to worry. We’ll do better next time.
no worries U.K. Australia New Zealand used to say that something is no trouble or is not worth mentioning (informal)”.
Query: if a business is financing their invoices with accounts receivable financing, is this an indication of financial strength or weakness? Query: from the point of view of the customer, if you are buying goods or services from a business that is factoring their receivables, should you be concerned? Query: is there one answer to these questions that fits all situations?
The answer is it’s a paradox. A paradox is a statement, proposition, or situation that seems to be absurd or contradictory, but in fact is or may be true.
Accounts receivable financing is both a sign of weakness with regard to cash flow and a sign of strength with respect to cash flow. It is a weakness because, prior to financing, funds are not available to provide cash flow to pay for materials, salaries, etc. and it is an indication of strength because, subsequent to funding cash is available to facilitate a business’ needs for cash to grow. It is a paradox. When properly structured as a financing tool for growth at a reasonable cost, it is a beneficial solution to cash flow shortages.
If your entire business depended on one supplier, and you were notified that your supplier was factoring their receivables, you might have a justifiable concern. If your only supplier went out of business, your business could be severely compromised. But this is also true whether or not the supplier is utilizing accounts receivable financing. It’s a paradox. This involves matters of perception, ego and character of the personalities in charge of the business and the supplier.
Every day, every month thousands of customers accept millions of dollars of goods and services in contracts that involve notification, verification and the factoring of receivables. For most customers, “notification” of accounts receivable financing is a non-issue: it is merely a change of the name or addresses of the payee on a check. This is a job for a person in the accounts payable department to make a minor clerical change. It is a mainstream business practice.
Bobby McFerrin wrote and performed a song called “Don’t Worry, Be Happy” for the movie “Cocktails” starring Tom Cruise. The song was a number one U.S. pop hit in 1988 and won the Grammy for Best Song of the Year. Here are the lyrics:
”Here is a little song I wrote
You might want to sing it note for note
Don’t worry be happy
In every life we have some trouble
When you worry you make it double
Don’t worry, be happy……
Ain’t got no place to lay your head
Somebody came and took your bed
Don’t worry, be happy
The land lord say your rent is late
He may have to litigate
Don’t worry, be happy
Look at me I am happy
Don’t worry, be happy
Here I give you my phone number
When you worry call me
I make you happy
Don’t worry, be happy
Ain’t got no cash, ain’t got no style
Ain’t got not girl to make you smile
But don’t worry be happy
Cause when you worry
Your face will frown
And that will bring everybody down
So don’t worry, be happy (now)…..
There is this little song I wrote
I hope you learn it note for note
Like good little children
Don’t worry, be happy
Listen to what I say
In your life expect some trouble
But when you worry
You make it double
Don’t worry, be happy……
Don’t worry don’t do it, be happy
Put a smile on your face
Don’t bring everybody down like this
Don’t worry, it will soon past
Whatever it is
Don’t worry, be happy”
The bottom line: “notification” should not be an issue in most situations involving accounts receivable financing; non-notification factoring is another option that is available for businesses concerned with confidentiality that meet minimum credit standards for asset based lending. Bobby McFerrin was right: “Don’t Worry, Be Happy”.
Copyright © 2007 Gregg Financial Services
www.greggfinancialservices.com
There is a reason why accounts receivable financing is a four thousand year old financing technique: it works. Accounts receivable financing, factoring, and asset based financing all mean the same thing as related to asset based lending- invoices are sold or pledged to a third party, usually a commercial finance company (sometimes a bank) to accelerate cash flow.
In simple terms, the process follows these steps. A business sells and delivers a product or service to another business. The customer receives an invoice. The business requests funding from the financing entity and a percentage of the invoice (usually 80% to 90%) is transferred to the business by the financing entity. The customer pays the invoice directly to the financing entity. The agreed upon fees are deducted and the remainder is rebated to the business by the financing entity.
How does the customer know to pay the financing entity instead of the business they are receiving goods or services from? The legal term is called “notification”. The financing entity informs the customer in writing of the financing agreement and the customer must agree in writing to this arrangement. In general, if the customer refuses to agree in writing to pay the lender instead of the business providing the goods or services, the financing entity will decline to advance funds.
Why? The main security for the financing entity to be repaid is the creditworthiness of the customer paying the invoice. Before funds are advanced to the business there is a second step called “verification”. The finance entity verifies with the customer that the goods have been received or the services were performed satisfactorily. There being no dispute, it is reasonable for the financing entity to assume that the invoice will be paid; therefore funds are advanced. This is a general view of how the accounts receivable financing process works.
Non-notification accounts receivable financing is a type of confidential factoring where the customers are not notified of the business’ financing arrangement with the financing entity. One typical situation involves a business that sells inexpensive items to thousands of customers; the cost of notification and verification is excessive compared to the risk of nonpayment by an individual customer. It simply may not make economic sense for the financing entity to have several employees contacting hundreds of customers for one financing customer’s transactions on a daily basis.
Non-notification factoring may require additional collateral requirements such as real estate; superior credit of the borrowing business may also be required with personal guarantees from the owners. It is more difficult to obtain non-notification factoring than the normal accounts receivable financing with notification and verification provisions.
Some businesses worry that if their customers learn that a commercial financing entity is factoring their receivables it may hurt their relationship with their customer; perhaps they may loose the customer’s business. What is this worry, why does it exist and is it justified?
The MSN Encarta Dictionary defines the word worry as:
“Worry
verb (past and past participle wor•ried, present participle wor•ry•ing, 3rd person present singular wor•ries)Definition: 1. transitive and intransitive verb be or make anxious: to feel anxious about something unpleasant that may have happened or may happen, or make somebody do this
2. transitive verb annoy somebody: to annoy somebody by making insistent demands or complaints
3. transitive verb try to bite animal: to try to wound or kill an animal by biting it
a dog suspected of worrying sheep
4. transitive verb
Same as worry at
5. intransitive verb proceed despite problems: to proceed persistently despite problems or obstacles
6. transitive verb touch something repeatedly: to touch, move, or interfere with something repeatedly
Stop worrying that button or it’ll come off.
noun (plural wor•ries)Definition: 1. anxiousness: a troubled unsettled feeling
2. cause of anxiety: something that causes anxiety or concern
3. period of anxiety: a period spent feeling anxious or concerned…”
The opposite is:
”not to worry used to tell somebody that something is not important and need not be a cause of concern (informal)
Not to worry. We’ll do better next time.
no worries U.K. Australia New Zealand used to say that something is no trouble or is not worth mentioning (informal)”.
Query: if a business is financing their invoices with accounts receivable financing, is this an indication of financial strength or weakness? Query: from the point of view of the customer, if you are buying goods or services from a business that is factoring their receivables, should you be concerned? Query: is there one answer to these questions that fits all situations?
The answer is it’s a paradox. A paradox is a statement, proposition, or situation that seems to be absurd or contradictory, but in fact is or may be true.
Accounts receivable financing is both a sign of weakness with regard to cash flow and a sign of strength with respect to cash flow. It is a weakness because, prior to financing, funds are not available to provide cash flow to pay for materials, salaries, etc. and it is an indication of strength because, subsequent to funding cash is available to facilitate a business’ needs for cash to grow. It is a paradox. When properly structured as a financing tool for growth at a reasonable cost, it is a beneficial solution to cash flow shortages.
If your entire business depended on one supplier, and you were notified that your supplier was factoring their receivables, you might have a justifiable concern. If your only supplier went out of business, your business could be severely compromised. But this is also true whether or not the supplier is utilizing accounts receivable financing. It’s a paradox. This involves matters of perception, ego and character of the personalities in charge of the business and the supplier.
Every day, every month thousands of customers accept millions of dollars of goods and services in contracts that involve notification, verification and the factoring of receivables. For most customers, “notification” of accounts receivable financing is a non-issue: it is merely a change of the name or addresses of the payee on a check. This is a job for a person in the accounts payable department to make a minor clerical change. It is a mainstream business practice.
Bobby McFerrin wrote and performed a song called “Don’t Worry, Be Happy” for the movie “Cocktails” starring Tom Cruise. The song was a number one U.S. pop hit in 1988 and won the Grammy for Best Song of the Year. Here are the lyrics:
”Here is a little song I wrote
You might want to sing it note for note
Don’t worry be happy
In every life we have some trouble
When you worry you make it double
Don’t worry, be happy……
Ain’t got no place to lay your head
Somebody came and took your bed
Don’t worry, be happy
The land lord say your rent is late
He may have to litigate
Don’t worry, be happy
Look at me I am happy
Don’t worry, be happy
Here I give you my phone number
When you worry call me
I make you happy
Don’t worry, be happy
Ain’t got no cash, ain’t got no style
Ain’t got not girl to make you smile
But don’t worry be happy
Cause when you worry
Your face will frown
And that will bring everybody down
So don’t worry, be happy (now)…..
There is this little song I wrote
I hope you learn it note for note
Like good little children
Don’t worry, be happy
Listen to what I say
In your life expect some trouble
But when you worry
You make it double
Don’t worry, be happy……
Don’t worry don’t do it, be happy
Put a smile on your face
Don’t bring everybody down like this
Don’t worry, it will soon past
Whatever it is
Don’t worry, be happy”
The bottom line: “notification” should not be an issue in most situations involving accounts receivable financing; non-notification factoring is another option that is available for businesses concerned with confidentiality that meet minimum credit standards for asset based lending. Bobby McFerrin was right: “Don’t Worry, Be Happy”.
Copyright © 2007 Gregg Financial Services
www.greggfinancialservices.com
Timothy McGaffin asked:
Making money online is fast replacing real estate as the fastest and easiest way to make money in the world.
Even though online marketing may be the best way to make money in the world there is still an incredibly high failure rate. This is because marketers lack a true system designed to produce efficient and systematic results every time for everyone.
Target Market:
Once you have a system in place that knows how to market to a highly targeted and receptive audience on autopilot, then you will have financial success from making money online every single time and faster and easier than any other way in the world including real estate in most cases.
Finding the Right Online Marketing System:
Many online marketing leaders and so-called gurus struggled for long periods of time until they were finally able to put all the elements of a true money-making online marketing system in place.
Other expert Internet marketers struggled for relatively shorter periods of time because they were able to find those other marketers who had developed proven online marketing systems that delivered systematic and consistent results every time.
Top Online Earners Struggled:
Regardless if today’s top online earners struggled for relatively long or short periods of time, they all struggled nonetheless.
Top Online Earners Use a System:
Not only did all top online earners struggle, until they found a true online marketing system but they all either discovered or designed and then used a proven system. Implementing a system that mathematically produces results like clockwork is the most important factor in achieving your financial goals in record time in online marketing.
The time it takes to actually design and implement your own proven online marketing system will inevitably take you years to perfect until its providing you the massive systematic results you desire to achieve your goal of complete financial freedom.
That is why it is so important to look to the leaders who have already developed the online marketing systems. Many online leaders specifically designed massive marketing systems for the intention of having other marketers put them into practice
But of course, in order to use someone else’s proven system you must be prepared to give something back and create a win-win situation where both sides benefit substantially.
As long as you’re willing to create a valued online business partnership so both sides benefit at record pace, it will sure beat the alternative of trying to design and implement a proven online marketing system of your own.
Even if you really want to create your own system, there is nothing that can stop you from ultimately inventing it and putting it in place for the world to use. But if creating your own online system is your desire, it will be much easier to make it happen when you simply achieve financial freedom first. And then once you are free and relaxed you will have the time and the resources to create and reveal your own proven online marketing system to the world.
Making money online is fast replacing real estate as the fastest and easiest way to make money in the world.
Even though online marketing may be the best way to make money in the world there is still an incredibly high failure rate. This is because marketers lack a true system designed to produce efficient and systematic results every time for everyone.
Target Market:
Once you have a system in place that knows how to market to a highly targeted and receptive audience on autopilot, then you will have financial success from making money online every single time and faster and easier than any other way in the world including real estate in most cases.
Finding the Right Online Marketing System:
Many online marketing leaders and so-called gurus struggled for long periods of time until they were finally able to put all the elements of a true money-making online marketing system in place.
Other expert Internet marketers struggled for relatively shorter periods of time because they were able to find those other marketers who had developed proven online marketing systems that delivered systematic and consistent results every time.
Top Online Earners Struggled:
Regardless if today’s top online earners struggled for relatively long or short periods of time, they all struggled nonetheless.
Top Online Earners Use a System:
Not only did all top online earners struggle, until they found a true online marketing system but they all either discovered or designed and then used a proven system. Implementing a system that mathematically produces results like clockwork is the most important factor in achieving your financial goals in record time in online marketing.
The time it takes to actually design and implement your own proven online marketing system will inevitably take you years to perfect until its providing you the massive systematic results you desire to achieve your goal of complete financial freedom.
That is why it is so important to look to the leaders who have already developed the online marketing systems. Many online leaders specifically designed massive marketing systems for the intention of having other marketers put them into practice
But of course, in order to use someone else’s proven system you must be prepared to give something back and create a win-win situation where both sides benefit substantially.
As long as you’re willing to create a valued online business partnership so both sides benefit at record pace, it will sure beat the alternative of trying to design and implement a proven online marketing system of your own.
Even if you really want to create your own system, there is nothing that can stop you from ultimately inventing it and putting it in place for the world to use. But if creating your own online system is your desire, it will be much easier to make it happen when you simply achieve financial freedom first. And then once you are free and relaxed you will have the time and the resources to create and reveal your own proven online marketing system to the world.
Naman Jain asked:
There are a number of online marketing companies that offer interent services to their clients in order to make them popular and successful in online business. Internet is a growing platform in India where businesses can become successful with free enterprising online. The most important tool for this is to make a wise selection of your online marketing company.
In order to make sure that your business is flourishing online, make sure that your online marketing company is providing a wide range of services. A good online marketing company should be able to provide premium services like search engine optimization, website designing, content management, online marketing strategy but also other features like rss feeds, blog creation, article submission, forum management and so on.
It is also important to see that the online marketing company that is managing your website is using the best of the technologies in the industry. It is important that they keep updating themselves with the latest trends and ideas in the market so that they do not lack updated skills.
There are several companies who also keep a track of your business growth. This is an added advantage to your business. The online marketing companies will not only work towards making your business better but will also help to study your growth. They will show you a list of records which, will tell you what is good and what is bad in your business plan. This is a unique quality that acts as a perk to your online business management.
There are several fake online marketing companies that promise big things to their clients and fail to accomplish them. Be very careful of such corrupt firms. It is wiser to appoint a company for your business only after a thorough study of their professional background. Always prefer to associate yourself with a reputed firm. It is check their previous client list and result records. Check their financial status, and the professional skills they possess.
Do not go overboard in believing their work. Always keep a close eye on their work and keep flowing up with them from time to time to learn about your website status. A good online marketing company will understand your goal and objective and consider it to be their ultimate target. This is how you and your service provider can collectively reach a set target.
There are a number of online marketing companies that offer interent services to their clients in order to make them popular and successful in online business. Internet is a growing platform in India where businesses can become successful with free enterprising online. The most important tool for this is to make a wise selection of your online marketing company.
In order to make sure that your business is flourishing online, make sure that your online marketing company is providing a wide range of services. A good online marketing company should be able to provide premium services like search engine optimization, website designing, content management, online marketing strategy but also other features like rss feeds, blog creation, article submission, forum management and so on.
It is also important to see that the online marketing company that is managing your website is using the best of the technologies in the industry. It is important that they keep updating themselves with the latest trends and ideas in the market so that they do not lack updated skills.
There are several companies who also keep a track of your business growth. This is an added advantage to your business. The online marketing companies will not only work towards making your business better but will also help to study your growth. They will show you a list of records which, will tell you what is good and what is bad in your business plan. This is a unique quality that acts as a perk to your online business management.
There are several fake online marketing companies that promise big things to their clients and fail to accomplish them. Be very careful of such corrupt firms. It is wiser to appoint a company for your business only after a thorough study of their professional background. Always prefer to associate yourself with a reputed firm. It is check their previous client list and result records. Check their financial status, and the professional skills they possess.
Do not go overboard in believing their work. Always keep a close eye on their work and keep flowing up with them from time to time to learn about your website status. A good online marketing company will understand your goal and objective and consider it to be their ultimate target. This is how you and your service provider can collectively reach a set target.
Article Manager asked:
Promotional gifts carry in a great deal of benefits to their consumers. They are being used to bring attainment and new business opportunities. In other words, promotional gifts are one of the most outstanding methods to sponsor your products and business. They can provide you a cost effective way to drive your business by enhancing customer awareness and influencing observation. Like in personal life comparison to the professional life promotional gifts could be given at any time. You do not need to wait for occasion to gift.
Promotional gifts can be gifted just in the beginning or after the launch of a product or dealing a new contact. There are many companies in the UK using UK promotional gifts as little incentives to customer of old and new. In this cut throat contest, they are the right option to bring your customers back. Numerous gifts can be found easily in the UK such as clocks and watches, stress toys, torches, confectionery, golf gifts, fridge magnets, mugs and coasters, calculators, calendars and planners, paper products, clothing and caps, desktop gifts, games and puzzles, umbrellas, pens, computer accessories, key rings and key chains, travel and accessories, recycled products, mobile phone holders, mouse mats, and folders and bags.
To select the right product and know your target audience, it is advisable to do comprehensive research. These products can be personalized as well as by engrossing the name of your company or the product you are promoting. It is because the customer will use your gift and he/she will look the name of your company or product again and again. The customer may want to buy or use your service. The main advantage of the promotional gift is that you can add your contact details and the logo of your product and many other things. In the UK finding promotional gifts are very easy.
Search over internet and place your order now to collect your gifts as mediums of promoting your business to keep yourself in touch with customers directly. It is not a big task to get UK promotional gifts, since the UK market is flooded with promotional gift stores. They are offering gifts at affordable prices and broad range. Various manufacturing companies have determined to develop promotional gifts, which will represent the services and products of various companies in the form of advertisement or brand promotion operation. Now numerous companies have come in this area and adopted the method of gifting UK promotional gifts with a perspective to create brand picture for their businesses.
Promotional gifts carry in a great deal of benefits to their consumers. They are being used to bring attainment and new business opportunities. In other words, promotional gifts are one of the most outstanding methods to sponsor your products and business. They can provide you a cost effective way to drive your business by enhancing customer awareness and influencing observation. Like in personal life comparison to the professional life promotional gifts could be given at any time. You do not need to wait for occasion to gift.
Promotional gifts can be gifted just in the beginning or after the launch of a product or dealing a new contact. There are many companies in the UK using UK promotional gifts as little incentives to customer of old and new. In this cut throat contest, they are the right option to bring your customers back. Numerous gifts can be found easily in the UK such as clocks and watches, stress toys, torches, confectionery, golf gifts, fridge magnets, mugs and coasters, calculators, calendars and planners, paper products, clothing and caps, desktop gifts, games and puzzles, umbrellas, pens, computer accessories, key rings and key chains, travel and accessories, recycled products, mobile phone holders, mouse mats, and folders and bags.
To select the right product and know your target audience, it is advisable to do comprehensive research. These products can be personalized as well as by engrossing the name of your company or the product you are promoting. It is because the customer will use your gift and he/she will look the name of your company or product again and again. The customer may want to buy or use your service. The main advantage of the promotional gift is that you can add your contact details and the logo of your product and many other things. In the UK finding promotional gifts are very easy.
Search over internet and place your order now to collect your gifts as mediums of promoting your business to keep yourself in touch with customers directly. It is not a big task to get UK promotional gifts, since the UK market is flooded with promotional gift stores. They are offering gifts at affordable prices and broad range. Various manufacturing companies have determined to develop promotional gifts, which will represent the services and products of various companies in the form of advertisement or brand promotion operation. Now numerous companies have come in this area and adopted the method of gifting UK promotional gifts with a perspective to create brand picture for their businesses.
Isaac Rubens asked:
An essential element to business promotion is using Custom printed products, no matter what you business is. After all, what better way to put your name out in front of your customers than with promotional products?
Television and radio advertising are quite costly, and the exposure of your promotional message to your target audience is very short lived. On the other hand, a useful, customized or personalized product of some intrinsic value will hang around and display your business name for months, without the need to pay for additional or repeated “air time”.
The more useful the customized product is, the more successful the promotional campaign will be. That’s why some of the most commonly personalized promotional items are very useful things, such as promotional pens, calendars, post its, custom t-shirts and caps. They have broad appeal and intrinsic value so when you mail them or hand them out to your targeted audience, they don’t end up in the trash, especially promotional t shirts.
HOW TO MAXIMIZE YOUR SAVINGS ON PROMOTIONAL CUSTOM PRINTED PRODUCTS
The easiest way to save on your overall promotional campaign is to buy in bulk. A price scale is offered by virtually every company that offers custom printed products. In other words, the more pieces you order, the less you pay per piece. Order in bulk to get the best possible price break and take advantage of the savings.
Consider who your target market is. Is there a particular product, specific to your industry which is in high demand? In other words, what is the “toilet paper” of that target market? An ideal product would be something which i used every day by people in your market. A customized calculator might be a wise choice of products in you were marketing to bankers or accountants. If you were targeting office personnel, perhaps a desk blotter or appointment book would be well suited for your campaign. A good quality custom printed pen is a always a good choice when in doubt.
Remember, whatever product you decide to have custom printed, to make sure it’s a decent quality product which suits your business image. Consult a custom print company that specializes in custom printed promotional items to find out what the best value is for your given needs.
Be sure that the company you order from can guarantee the accuracy of the personalization of your order and ask to verify it before it goes to production.
Remember that going with the lowest bidder isn’t always the wisest decision you can make, because “you get what you pay for” as they say. Choose a quality company with a solid reputation and you can’t go wrong.
An essential element to business promotion is using Custom printed products, no matter what you business is. After all, what better way to put your name out in front of your customers than with promotional products?
Television and radio advertising are quite costly, and the exposure of your promotional message to your target audience is very short lived. On the other hand, a useful, customized or personalized product of some intrinsic value will hang around and display your business name for months, without the need to pay for additional or repeated “air time”.
The more useful the customized product is, the more successful the promotional campaign will be. That’s why some of the most commonly personalized promotional items are very useful things, such as promotional pens, calendars, post its, custom t-shirts and caps. They have broad appeal and intrinsic value so when you mail them or hand them out to your targeted audience, they don’t end up in the trash, especially promotional t shirts.
HOW TO MAXIMIZE YOUR SAVINGS ON PROMOTIONAL CUSTOM PRINTED PRODUCTS
The easiest way to save on your overall promotional campaign is to buy in bulk. A price scale is offered by virtually every company that offers custom printed products. In other words, the more pieces you order, the less you pay per piece. Order in bulk to get the best possible price break and take advantage of the savings.
Consider who your target market is. Is there a particular product, specific to your industry which is in high demand? In other words, what is the “toilet paper” of that target market? An ideal product would be something which i used every day by people in your market. A customized calculator might be a wise choice of products in you were marketing to bankers or accountants. If you were targeting office personnel, perhaps a desk blotter or appointment book would be well suited for your campaign. A good quality custom printed pen is a always a good choice when in doubt.
Remember, whatever product you decide to have custom printed, to make sure it’s a decent quality product which suits your business image. Consult a custom print company that specializes in custom printed promotional items to find out what the best value is for your given needs.
Be sure that the company you order from can guarantee the accuracy of the personalization of your order and ask to verify it before it goes to production.
Remember that going with the lowest bidder isn’t always the wisest decision you can make, because “you get what you pay for” as they say. Choose a quality company with a solid reputation and you can’t go wrong.
Alex – Denture Repair Customer Service asked:
Dentures are made to last five to seven years, after which they should be replaced. One reason is as the denture ages it becomes porous making the denture more susceptible to break. Also, it may be harder to get rid of any sicknesses because bacteria become trapped in the pores of the denture plastic.
Denture Repair Glue :
Those who are unaware of professional denture repair service by mail often find their own denture repair remedy by using glue from a hardware store. While this may be a quick fix, using any kind of glue for denture repairs is poisonous. After the fixed denture is placed in the mouth, tiny fragments of the glue loosen from being exposed to the hostile environment in the mouth. The constant rubbing of foods while eating and the movement of the tongue help the glue wear down. The end result is a broken denture with fragments of dried glue on the denture.
Another problem with using glue for denture repair is that some glues react differently when drying. Some actually heat-up which can cause the denture to warp making the denture unusable after the glue has dried. Once the denture is warped, it cannot be repaired properly.
Local Denture Repair Services :
Most, who are unaccustomed to using mail order denture repair services, often prefer to find a local business in their area that can repair their dentures as a walk-in. What most do not know is the cost for walk-in denture repairs, if the place accepts to repair the denture, often the cost for a denture repair is two to three times as much as compared to using mail order denture repair services. One of the reasons is some places don’t handle denture repairs on a daily basis, so the time to repair dentures may be longer than those place who repair dentures daily.
Benefits of using denture repair services by mail :
There are many benefits when dealing with denture repair by mail, such as you won’t have to schedule a dentist appointment just to see if you can get a denture repair. The cost of the dentist appointment alone would be the almost the same cost of getting your denture repair through the mail. When dealing with denture repair services by mail, most professional denture repair businesses have a dentist ready to inspect broken dentures for free. Another benefit is that you won’t feel pressured into getting a new denture, as most places want you to buy a new denture from them. It is virtually impossible to make quality dentures through the mail and if it is possible, it would be very time consuming to get quality. The primary focus for businesses that offer denture repair by mail is to give you back a working denture.
Key points into finding the right denture repair service by mail :
A dentist should always inspect broken Dentures, as the dentist can quickly find additional problems with the denture and make recommendations on how to remedy those problems if needed. It’s priceless if a dentist who inspects the broken denture can also repair the dentures themselves. Dentists normally don’t have the expertise to repair dentures, and the ones who do often have expertise in making and fitting dentures for their patients. Another feature that should be considered is the time frame on how fast the denture repair be back in the mail and not when it is completed. Lastly, one area that is often overlooked is the packaging used to ship dentures back safely. Very few businesses use their own specialty packaging, as this is an extra cost to denture repairs. But those who do use their own packaging materials to make sure the denture is delivered as safe as possible in addition to the commercial carrier shipping should be the place to pick.
Exceptional Denture Repair Services by Mail where Dentists repair Dentures :
If you have a need for fast and reliable denture repairs that are affordable for all, you can connect with www.DentureRepairExpress.com for a trustworthy denture repair service source. You can even use their instant quote system to find out what it will cost to get your denture repair promptly.
Dentures are made to last five to seven years, after which they should be replaced. One reason is as the denture ages it becomes porous making the denture more susceptible to break. Also, it may be harder to get rid of any sicknesses because bacteria become trapped in the pores of the denture plastic.
Denture Repair Glue :
Those who are unaware of professional denture repair service by mail often find their own denture repair remedy by using glue from a hardware store. While this may be a quick fix, using any kind of glue for denture repairs is poisonous. After the fixed denture is placed in the mouth, tiny fragments of the glue loosen from being exposed to the hostile environment in the mouth. The constant rubbing of foods while eating and the movement of the tongue help the glue wear down. The end result is a broken denture with fragments of dried glue on the denture.
Another problem with using glue for denture repair is that some glues react differently when drying. Some actually heat-up which can cause the denture to warp making the denture unusable after the glue has dried. Once the denture is warped, it cannot be repaired properly.
Local Denture Repair Services :
Most, who are unaccustomed to using mail order denture repair services, often prefer to find a local business in their area that can repair their dentures as a walk-in. What most do not know is the cost for walk-in denture repairs, if the place accepts to repair the denture, often the cost for a denture repair is two to three times as much as compared to using mail order denture repair services. One of the reasons is some places don’t handle denture repairs on a daily basis, so the time to repair dentures may be longer than those place who repair dentures daily.
Benefits of using denture repair services by mail :
There are many benefits when dealing with denture repair by mail, such as you won’t have to schedule a dentist appointment just to see if you can get a denture repair. The cost of the dentist appointment alone would be the almost the same cost of getting your denture repair through the mail. When dealing with denture repair services by mail, most professional denture repair businesses have a dentist ready to inspect broken dentures for free. Another benefit is that you won’t feel pressured into getting a new denture, as most places want you to buy a new denture from them. It is virtually impossible to make quality dentures through the mail and if it is possible, it would be very time consuming to get quality. The primary focus for businesses that offer denture repair by mail is to give you back a working denture.
Key points into finding the right denture repair service by mail :
A dentist should always inspect broken Dentures, as the dentist can quickly find additional problems with the denture and make recommendations on how to remedy those problems if needed. It’s priceless if a dentist who inspects the broken denture can also repair the dentures themselves. Dentists normally don’t have the expertise to repair dentures, and the ones who do often have expertise in making and fitting dentures for their patients. Another feature that should be considered is the time frame on how fast the denture repair be back in the mail and not when it is completed. Lastly, one area that is often overlooked is the packaging used to ship dentures back safely. Very few businesses use their own specialty packaging, as this is an extra cost to denture repairs. But those who do use their own packaging materials to make sure the denture is delivered as safe as possible in addition to the commercial carrier shipping should be the place to pick.
Exceptional Denture Repair Services by Mail where Dentists repair Dentures :
If you have a need for fast and reliable denture repairs that are affordable for all, you can connect with www.DentureRepairExpress.com for a trustworthy denture repair service source. You can even use their instant quote system to find out what it will cost to get your denture repair promptly.
- 0 Comments
- Tags: Mail Order, Pointers, Sicknesses
Turk Malloy asked:
You need to type down an article or want to grab the newest software for your study. The key to all these questions is a computer. But every time, every one does not have enough money to finance a computer of his own. Especially, for a student, arranging this kind of money is almost impossible. So, to aid you, there are lenders with their hand upheld for your computer buy. There is computer finance available today.
Computer Finance is a viable option for all. And, you can go for buying any brand or make of the computer, there will computer finance for you. You can opt for buying a brand new computer from computer finance. But, finding finance to update your computer is also available form computer finance. There is an affordable repayment term also attached to computer finance. You have to pay back the money of computer finance by 2 full years.
Well, computer finance is a finance scheme and therefore, is available for all. If you can pledge your computer to have the computer finance, that would be secured computer finance and it lets you to grab the finance at much cheap rate of interest. This is possible your computer acts as the security of the lender’s money. So, when the lender has a got a security, he becomes ready to serve you at cheap rates. Again, unsecured computer finance is also available in the market where you are not to pledge any collateral. For this, you are to pay a slightly surged rate of interest.
Also , there is computer finance for bad credit holders too. Your credit rating does not put any bar in your computer buying. And, to find an affordable rate of interest, you have to do a lot of research for computer finance online. There are multiple lenders online and that makes your go ease. You can easily compare and find out which computer finance is the best for you.
So, to pace up with the growth pace around, you need to have computer and computer finance is just, one of the most viable medium for it.
You need to type down an article or want to grab the newest software for your study. The key to all these questions is a computer. But every time, every one does not have enough money to finance a computer of his own. Especially, for a student, arranging this kind of money is almost impossible. So, to aid you, there are lenders with their hand upheld for your computer buy. There is computer finance available today.
Computer Finance is a viable option for all. And, you can go for buying any brand or make of the computer, there will computer finance for you. You can opt for buying a brand new computer from computer finance. But, finding finance to update your computer is also available form computer finance. There is an affordable repayment term also attached to computer finance. You have to pay back the money of computer finance by 2 full years.
Well, computer finance is a finance scheme and therefore, is available for all. If you can pledge your computer to have the computer finance, that would be secured computer finance and it lets you to grab the finance at much cheap rate of interest. This is possible your computer acts as the security of the lender’s money. So, when the lender has a got a security, he becomes ready to serve you at cheap rates. Again, unsecured computer finance is also available in the market where you are not to pledge any collateral. For this, you are to pay a slightly surged rate of interest.
Also , there is computer finance for bad credit holders too. Your credit rating does not put any bar in your computer buying. And, to find an affordable rate of interest, you have to do a lot of research for computer finance online. There are multiple lenders online and that makes your go ease. You can easily compare and find out which computer finance is the best for you.
So, to pace up with the growth pace around, you need to have computer and computer finance is just, one of the most viable medium for it.
Michael Newman asked:
Production cannot take place unless the necessary resources are available. & we are familiar with resources. Factories, railway, farms, mines, human skills, offices, & shops – these are the kind things we identify as economic resources. Again, for purposes of analysis, economists resort to a broad classification of these resources or factors of production as they are usually called. It’s very difficult to define what the factors of production are. Usually these are labor, technologies, land, capital, enterprise & so on. But for example Eduard Limer distinguishes also between different types of labor. So as you understand there can be different approaches to identify factors of production. But the definition is more or less the same: factors of productions are the resources, that necessary to produce a good or a service.
Now I’m going to describe the classification that is one most commonly use & it does serve to assist analysis (labor – land – capital). This classification is not completely satisfactory because it is sometimes difficult to allocate the real-world resources into these neat categories. For example, land which has been fertilized, drained, an fenced is really a combination of land a capital. We shall also find that within each broad category there are wide divergences. So the production of any good or service usually requires some combinations of three different types of resources.
Labor – all aspects of human effort expended in producing a good or a service, from the simplest task up to the task of combining all the other goods & services into the final good or service. Land – all the natural resources used to produce something else. More specifically, the term refers to soil, minerals, forests, waters, & especially in urban & industrialized societies, the surface of the earth on which productive activities may be carried forward. Capital – those buildings, pieces of machinery, & tools which man has fashioned to help him produce still more goods & services. (In common speech, “capital” is sometimes also used to refer to the money spent in producing capital goods.)
The terms are not precise ones, but their general purpose is clear. They help us to categorize all of the elements involved in any production process. Labor, land & capital are therefore called the factors of production. The for whom question is at root simply a question about what part of the total production of an economy shall go to each of the various factors of production. A man pays 2.875 $ for a new automobile. What part of that shall go to each of the workers (assembly-line worker, maintenance man, salesman, transport driver, president) who had a hand in producing the car? Each factor of production – or, more exactly, each owner of a factor of production – receives a share of the final product.
Manufacturing companies require three basic functions: finance, production (or operation), & marketing. Finance raises the capital to buy the equipment to start the business, production (or operations) makes the product, & marketing sells & distributes it. Operations management is also of crucial importance to service companies.
The objectives of the production department are usually to produce a specific product, on schedule, at minimum cost. But there may be other criteria such as concentrating on quality & product reliability, producing the maximum possible volume of output, fully utilizing the plant or the work force, reducing lead time, generating maximum return on assets, or ensuring flexibility for product or volume changes. Some of these objectives are clearly incompatible, & most companies have to choose between price, quality & flexibility. There is an elementary trade-off between low cost & quality, & another between low cost & flexibility to customize products or deliver it in a very short lead time.
Production & operations management obviously involves production plants & factories or service branches, & the equipment in them, parts (raw materials or supplies), processes (the steps by which production or services are carried out), & planning & control system (the procedure used by management to operate & monitor the system). But it also involves people – the personnel or human resources, who will always be necessary in production & operations, despite increasing automation. People are particularly important in organizations offering a service rather than making a product. Such organizations exist to serve the customer, but it can also be argued that they have to serve their workforce, because workers will often treat the public the same way that management treats them, so staff training & motivation are clearly important.
In production & operation management there has been increasing emphasis of quality, as defined by the consumer, in terms of features offered: appearance, reliability, durability, serviceability, & so on.
An important concept has been Total Quality Management, according to which management should ensure that quality extends throughout the organization in everything it does, or at least in all features of products & services that are important to the consumer. Rather than aiming for the best quality compatible with low unit costs the company should aim for the highest quality level possible, because a lack of quality can be more expensive than achieving high quality. As the production theorist Philip Crosby puts it, quality is free.
What he means is that there are many costs that result from production that is not 100 % perfect inspecting, testing, identifying the causes of defects, implementing corrective action, training or retraining personnel, redesigning a product or system, scrapping, reworking or repairing defective products, replacing products in accordance with warranty, dealing with complaints, losing customers or their goodwill & so on. Quality theorists have shown that prevention is usually much cheaper than failures. Every extra dollar spent on prevention might save 10 $ spent on inspection & failure costs. Furthermore, even if the current quality level appears perfect, the company should still continuously look fro product improvement, & aim to be the best in the industry.
Many large Japanese companies – especially those guaranteeing lifetime employment – have able to attain high quality, because of the motivation of their staff & the long-term nearly all the relationships among employees, suppliers, distributors, owners & customers. Japanese invented quality circles: voluntary groups of six or twelve people, who ate usually training in problem-solving, analysis, & reporting methods, & who then meet once a week to discuss their department & the problems they are encountering. Quality circles have been less successful in the more individuals cultures of America & Europe.
Manufacturing companies all have to decide how much R&D to do. Should they do fundamental or applied research themselves, or use research institutes, universities, & independent research laboratories, or simply license product or service designs from other organizations as necessary? Companies are faced with a “make or buy” decision for every item, process or service. Do they make it themselves or do they outsource, & buy from a subcontractor? If a company assembles products supplied by a large number of subcontractors, they face the problem of how much inventory they require.
In Just-In-Time production – also called lean production, stockless production, & continuous flow manufacture – nothing is bought or produced until it is needed. Each section of production process makes the necessary quantity on the necessary units at the necessary stage of the manufacturing process, or buy distributors of customers.
The JYT system is wholly contrary to the European & American logic of encouraging greater productivity, & welcoming production that exceeds the agreed schedule or quota, & stocking extras in case of future problems.
JIT minimizes the costs of holding inventories, which are regarded negatively, as avoidable costs, rather than as assets. The large Japanese manufacturing companies have long practiced outsourcing, & generally use extensive networks of small subcontractors. Of course, if a single subcontractor fails to deliver a component on time, the whole production process is sabotaged, but the Japanese industrial system relies on mutual trust & long-term relationships. Small suppliers often attempt to situate their facilities close to the location of a larger company with which they work.
The Japanese also prefer small, specialized production plants with a limited capacity, in which, wherever possible, all the machines required for a certain job are grouped together. This avoid all the waiting & moving time involved in sending half-finished items from one department to another, although it often requires flexible, multi-skilled employees.
JIT thus greatly reduces transportation & inventory costs, & should ensure that there is no waste from overproduction, or from idle workers waiting fro parts. It allows increased productivity because of shortened throughput time. If factories are equipped so that set-up times are short, very small production runs are possible. Any quantity problems or product defects should be noticed more quickly, production lead times are reduced, & the firm can react more rapidly to demand changes.
Production cannot take place unless the necessary resources are available. & we are familiar with resources. Factories, railway, farms, mines, human skills, offices, & shops – these are the kind things we identify as economic resources. Again, for purposes of analysis, economists resort to a broad classification of these resources or factors of production as they are usually called. It’s very difficult to define what the factors of production are. Usually these are labor, technologies, land, capital, enterprise & so on. But for example Eduard Limer distinguishes also between different types of labor. So as you understand there can be different approaches to identify factors of production. But the definition is more or less the same: factors of productions are the resources, that necessary to produce a good or a service.
Now I’m going to describe the classification that is one most commonly use & it does serve to assist analysis (labor – land – capital). This classification is not completely satisfactory because it is sometimes difficult to allocate the real-world resources into these neat categories. For example, land which has been fertilized, drained, an fenced is really a combination of land a capital. We shall also find that within each broad category there are wide divergences. So the production of any good or service usually requires some combinations of three different types of resources.
Labor – all aspects of human effort expended in producing a good or a service, from the simplest task up to the task of combining all the other goods & services into the final good or service. Land – all the natural resources used to produce something else. More specifically, the term refers to soil, minerals, forests, waters, & especially in urban & industrialized societies, the surface of the earth on which productive activities may be carried forward. Capital – those buildings, pieces of machinery, & tools which man has fashioned to help him produce still more goods & services. (In common speech, “capital” is sometimes also used to refer to the money spent in producing capital goods.)
The terms are not precise ones, but their general purpose is clear. They help us to categorize all of the elements involved in any production process. Labor, land & capital are therefore called the factors of production. The for whom question is at root simply a question about what part of the total production of an economy shall go to each of the various factors of production. A man pays 2.875 $ for a new automobile. What part of that shall go to each of the workers (assembly-line worker, maintenance man, salesman, transport driver, president) who had a hand in producing the car? Each factor of production – or, more exactly, each owner of a factor of production – receives a share of the final product.
Manufacturing companies require three basic functions: finance, production (or operation), & marketing. Finance raises the capital to buy the equipment to start the business, production (or operations) makes the product, & marketing sells & distributes it. Operations management is also of crucial importance to service companies.
The objectives of the production department are usually to produce a specific product, on schedule, at minimum cost. But there may be other criteria such as concentrating on quality & product reliability, producing the maximum possible volume of output, fully utilizing the plant or the work force, reducing lead time, generating maximum return on assets, or ensuring flexibility for product or volume changes. Some of these objectives are clearly incompatible, & most companies have to choose between price, quality & flexibility. There is an elementary trade-off between low cost & quality, & another between low cost & flexibility to customize products or deliver it in a very short lead time.
Production & operations management obviously involves production plants & factories or service branches, & the equipment in them, parts (raw materials or supplies), processes (the steps by which production or services are carried out), & planning & control system (the procedure used by management to operate & monitor the system). But it also involves people – the personnel or human resources, who will always be necessary in production & operations, despite increasing automation. People are particularly important in organizations offering a service rather than making a product. Such organizations exist to serve the customer, but it can also be argued that they have to serve their workforce, because workers will often treat the public the same way that management treats them, so staff training & motivation are clearly important.
In production & operation management there has been increasing emphasis of quality, as defined by the consumer, in terms of features offered: appearance, reliability, durability, serviceability, & so on.
An important concept has been Total Quality Management, according to which management should ensure that quality extends throughout the organization in everything it does, or at least in all features of products & services that are important to the consumer. Rather than aiming for the best quality compatible with low unit costs the company should aim for the highest quality level possible, because a lack of quality can be more expensive than achieving high quality. As the production theorist Philip Crosby puts it, quality is free.
What he means is that there are many costs that result from production that is not 100 % perfect inspecting, testing, identifying the causes of defects, implementing corrective action, training or retraining personnel, redesigning a product or system, scrapping, reworking or repairing defective products, replacing products in accordance with warranty, dealing with complaints, losing customers or their goodwill & so on. Quality theorists have shown that prevention is usually much cheaper than failures. Every extra dollar spent on prevention might save 10 $ spent on inspection & failure costs. Furthermore, even if the current quality level appears perfect, the company should still continuously look fro product improvement, & aim to be the best in the industry.
Many large Japanese companies – especially those guaranteeing lifetime employment – have able to attain high quality, because of the motivation of their staff & the long-term nearly all the relationships among employees, suppliers, distributors, owners & customers. Japanese invented quality circles: voluntary groups of six or twelve people, who ate usually training in problem-solving, analysis, & reporting methods, & who then meet once a week to discuss their department & the problems they are encountering. Quality circles have been less successful in the more individuals cultures of America & Europe.
Manufacturing companies all have to decide how much R&D to do. Should they do fundamental or applied research themselves, or use research institutes, universities, & independent research laboratories, or simply license product or service designs from other organizations as necessary? Companies are faced with a “make or buy” decision for every item, process or service. Do they make it themselves or do they outsource, & buy from a subcontractor? If a company assembles products supplied by a large number of subcontractors, they face the problem of how much inventory they require.
In Just-In-Time production – also called lean production, stockless production, & continuous flow manufacture – nothing is bought or produced until it is needed. Each section of production process makes the necessary quantity on the necessary units at the necessary stage of the manufacturing process, or buy distributors of customers.
The JYT system is wholly contrary to the European & American logic of encouraging greater productivity, & welcoming production that exceeds the agreed schedule or quota, & stocking extras in case of future problems.
JIT minimizes the costs of holding inventories, which are regarded negatively, as avoidable costs, rather than as assets. The large Japanese manufacturing companies have long practiced outsourcing, & generally use extensive networks of small subcontractors. Of course, if a single subcontractor fails to deliver a component on time, the whole production process is sabotaged, but the Japanese industrial system relies on mutual trust & long-term relationships. Small suppliers often attempt to situate their facilities close to the location of a larger company with which they work.
The Japanese also prefer small, specialized production plants with a limited capacity, in which, wherever possible, all the machines required for a certain job are grouped together. This avoid all the waiting & moving time involved in sending half-finished items from one department to another, although it often requires flexible, multi-skilled employees.
JIT thus greatly reduces transportation & inventory costs, & should ensure that there is no waste from overproduction, or from idle workers waiting fro parts. It allows increased productivity because of shortened throughput time. If factories are equipped so that set-up times are short, very small production runs are possible. Any quantity problems or product defects should be noticed more quickly, production lead times are reduced, & the firm can react more rapidly to demand changes.
