The Scholar of Business

In both large companies and small, new procedures and policies are developed and become the company standard. Each company has its way of operating and this information is passed on to each and every new employee. Other employees are often relied upon to train new recruits, which isn’t always ideal. There are much more reliable and cost efficient methods available such as video training.

Normally when a new employee joins your organization, they receive on-the-job training by other employees. This can prove costly in a number of ways. First, you are assuming that the training employee will pass on the correct information and can reiterate how important company policies are. Then there is the valuable time spent by the employee who trains another, which ultimately takes away from their own productivity.

Having a corporate video made to display all the information, policies and procedures you want to teach new employees will prove far more cost efficient as there is no need to take an employee, or yourself, away from your own job to train. Precious hours are not lost and company work flow is completely unaffected. It also serves as a visual teaching tool which helps with retention of the information. People generally retain information better when they see it as opposed to hearing it.

A corporate video production can also help organize and easily implement new or altered methods and policies, and will ensure that information is passed on in a more consistent manner. At some point in the life of every company things change, and with this change comes updated procedures. These changes can be made available to employees on a mass level through a corporate video production, as opposed to individually, and by word of mouth which in some situations can be a company risk. Furthermore, presenting the information on the company website for employees to read, poses the risk that it will not reach everyone because they would have to make the effort to access the site.

Private Label Right’s products are all the rage right now. These products allow those who have no product of their own to jump right into business, without a lot of startup capital needed. If you have PLR products, you can sell those products as your own, put your name on them, and make any changes that you want to make to them.

But, you should be aware that many others have bought the same PLR products that you have bought. If you want fame and fortune, your PLR products will have to be significantly different than those that are already out there. Many people will just make minor changes to the product, and will do okay – but you want fame and fortune!

To get that fame and fortune, don’t buy PLR products with the intention of selling them. Instead, buy them with the intention of creating your very own product from them. You don’t have to reinvent the wheel or try to come up with a type of product that has never been created before.

What you should do is use the PLR product as a guideline for developing your own product. The core material is there. All you have to do is rewrite it, restructure it, rename it, and make it yours…make the product do what you and your target market want and need for it to do.

If you’ve done this correctly, by the time you are finished, you will literally have a product that nobody else has. It will be unique, and therefore, more valuable. You can even sell the resell rights or private label rights to the product if you choose to. There are no limitations! The important thing is that you know and make use of the difference between just making a few simple changes, like others will do, and totally revamping the PLR product to turn it into a completely new product of your own.

What is the competitive advantage that a product or a service has over the competitors? What makes it distinguishable from competitor’s products or services? One way to identify competitors is through a perceptual mapping. In a perceptual map, products are compared based on how customers view a set of comparable products on quality and cost. The perceptual map is derived from customer data measuring similarities among brands. Customers are asked to rate each pair of brands on a scale from similar to very dissimilar, which help find out how a product stands in comparison to competitors and decide whether to confront, compete, coexist or cooperate with them.

To be able to sustain in competitive advantage your products must be valuable for customers, not easy to imitate and profitable to sell. Successful products fulfill a high emotional value state, for instance OXO who evolved a single product called GoodGrips to a full line of products penetrating a significant market share. Motorola developed a major presence in the consumer product category with one new product, called the Talkabout.

In evaluating the value impact of these products, it is found that they were successful in communicating ‘values’ in key categories that connected them to their customers. Product positioning has an important role to play in product development. The product positioning refers to the set of features and value that is valued by the target customer audience, relative to competing products. It is about how you differentiate your product or service in the mind of your prospect.

When you position your product, especially in the established markets instead of creating products and services with distinctive advantage, the company can fall into trap of creating something, which is merely a duplication of the same product with identical characteristics. This is called a majority fallacy, which at the end often results in price wars.

Business organizations across the world are under increasing pressure than ever before to stay dynamic and responsive in their competitive positions due to a global economic phenomenon resulting from ‘Liberalization, globalization and privatization. They have to become more productive to meet competition. It is a good strategy to maintain a competitive advantage in a competitive market.  Productive efficiency is of crucial importance for managing inflation for lowering costs of goods and services.

Productivity is the essential prerequisite for increasing exports to  achieve  export led growth, also  through  technological  development to  generate  wealth for further investment,  and social welfare and economic  of any country.

The concept of productivity is generally defined as the relation between output and input. It is argued that productivity is one of the basic variables governing economic production activities.

Productivity is a multifaceted phenomenon. It denotes an increasingly efficient and effective use of resources of land, labor, capital, and technology. It is combination of number of diverse aspects like:

optimum utilization of available and potential resources, assets, and capacity,
effective management of projects without waste of time and  before cost escalations
waste avoidance in the use of materials, machines, energy, time and other inputs,
labor cost and/or higher quality goods and services,
modernization of plants, and machinery,
development of technology and pursuit of innovation,
dedicated managerial leadership and
full utilization  of human talents, creativity and skills

Productivity and innovation are crucial for the socio-economic development of nations.  Unemployment, underdevelopment, inflation and poverty, and the resultant unrest within a society are largely the consequences of its low and/or declining productivity in various industries.

A nation prospers when production activities are managed intelligently, diligently, and harmoniously. Otherwise the cost of resources will be high. Thus, the poverty of nation is an outcome of weakness in the organization and management of their production resources.

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Whatever the industry, there is a tendency today to try to find a cost-effective solution to final product assembly by cutting out all of the unnecessary double-handing of goods and component parts.

Having found a suitable sub-contract sheet metal engineering company to make up the parts and housings say it seems a waste to then have the expense of having it all shipped back to you to be put together, finally inspected, labelled and boxed ready for despatch etc.

With some of the more advanced sheet metal engineering companies offering an extensive range of “additional” services inclusive of powder coating and even, in some cases, plastic vacuum forming, it may not be too surprising to also find that there are those who have taken the extra step to offer a full one-stop shop service.

For many years now there have been plenty of companies offering the Printed Circuit Board type final assemblies, but what we are talking about here is the much bigger picture:

Mechanical Assemblies
Electromechanical Assemblies
Electronics Assemblies – PCB’s / Wiring Looms / Security Systems

Why ship large bulky items back to have the “innards” located, or all the electronics fitted etc – why not have it fully assembled in the same place where the majority of the components and sub-assemblies have been manufactured?

Yes – of course no company that I know of is going to offer this service purely for the joy of working, and they will make a charge for the service, BUT if it is faster and easier and cost-effective in terms of not shipping bulky parts back, risking transit damage, employing assembly staff (this way you only pay when you are using them) and having to maintain your own QA and despatch / warehousing systems then the Complete Service option may well suit you.