THE REAL BUSINESS WORLD
by dean lim chun choong
The purpose of this paper is to record what I have learn from my academic studies & real business world. Comparing the book and the real business world, the strategy and the mistakes of the environmental studies. Majority of non-business background people perceive business knowledge are common sense but one thing they do not realize is that the reality is different. Business organization itself is formed by different function and each of the department has different responsibility to facilitate the business operation.
1. A company requires management beside pure selling process.
The success of a company cannot be achieved just by selling. The process of selling requires the support of various elements; from the sourcing, production until the logistics need to be managed effectively. The growth or improvements of a company have to come from the internal of the company in order to support the front-liner.
2. Using the right strategy and understanding the market needs are critical.
Top management must make sure that manager that lead the team understand market situation. Blind strategies will only leads to dead end. Top management have to go in-depth in order to fully understand the situation of front-liner. Getting information from 3rd party or through meeting is not sufficient to gain insight of the situation.
3. Human asset is one of the most important elements of success.
The best salesman might hunger for more than what they are earning, more than what the company itself can offer. Although not all employees have positive behaviour but the company will still need them to survive. High employee turnover rate will bring the company down and job delay.
4. A challenge will become a disaster if it remains unsolved for too long.
Unsolved problems not only demoralize employee, when the problems remain unsolved for too long, it will become a dead point of the company. Employees will choose to ignore a problem when they have tried a few time to solve the problem but it failed.
5. Objective to be set based on S.M.A.R.T
Unclear and unrealistic objective will only demoralize employee especially the sales force. A target that does not give extra benefits to employees does not give any motivation. It will only demoralize them when they do not able to achieve.
6. Equal revenue distribution to all sales people
When come into a company that have department that selling different types of products and the margin of the products itself has a big gap, imbalance of revenue for the sales person will occur. Imbalance of revenue distribution will make them feel that they do not treated equally and psychologically imbalance
7. Trust is the basis element of relationship building
We have internal & external customers within the organization itself. Customer confidence itself are built on experience & agreement that parties involve made. It is a relationship that built on monetary term & a relationship that built on service provided & satisfaction as well. However, when come into internal customers, they are colleagues that you worked with, other employees you eat your lunch with and gossip with. Words spread among these group of people. the way manager handle staff, the ethical of each decision will direct & indirectly influence the employees & have the butterfly effect to the whole business organization.
For my personal hobby, I love Mr.Donald Trump's books. I have quote some phrase from his website to share with you, who reading this. I hope you find it useful ...
He is definitely the kind of Guru I want to learn with. Some basic things yet, it could be super motivational !!
Donald J. Trump has become the most recognized businessman in the world, and the Trump brand is readily acknowledged as representing the gold standard around the globe. As the pre-eminent developer of quality real estate, his acumen is unrivaled, and the diversity of his interests has set a new paradigm in the world of business. His commitment to excellence is legendary, and his work as a philanthropist is an integral part of his ethos. He is the archetypal businessman, and an icon of New York.
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