Leveraging People

A great part of a company’s success is due to the word put in by its employee. A good leader realizes the importance of teamwork and the necessity of rewarding initiative. For an organization to be successful and to steer ahead of other, it must formulate a good incentive. For an organization to be successful and to steer ahead of others, it must formulate as a good in them for their deserving contributions. Such a system ensures profitability for both its employees and rewards a system ensure profitability for both the company and the performer. This also helps keep the attrition rerates at low level and encourages every employee to go that extra mile to take the company forward, in every aspect of the business.

A long with encouraging profit centers, it is crucial to encourage people to grow. One must trust one’s employees and that, in turn one’s employees and that, in the most important attributes a successful leader must have is the ability to identify goods and sincere people and challenge them with responsibility. Loyal employees from the back bone of a successful organization. A good leader must ensure that the company’s working environment is such everyone is constantly motivating and therefore would want to go beyond what is considered normal. At the same time, discipline, one must remember, is as important for success as encouragement to new ideas, a clear vision for the future, confidence building and teamwork. Finally one should never undermine the role of the sales team in a company’s overall scheme of things. It goes without saying that the sales function plays a crucial part in driving an organization towards its objectives. Therefore, every employee should have been exposed to a sales environment at some stage of one’s career. A good leader must ensure that such exposure is provided.

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Selling the product on credit

Sales on credit are inevitable necessity in the business world of today. No business can exist without selling the product on credit. When a firm sells goods for cash, payments are received immediately, and therefore no receivables are created. But when a firm sells goods or services on credit, the payment are postponed to future dates and receivables are created. The difference between credit sales and cash sales is time gap in the receipt of cash. From the point of view of business, selling on credit constitutes an investment. The business invests money in credit sales to earn more money by increasing sales.

Receivables are asset accounts representing amounts owed to the firm as a result of sales of goods or services in the ordinary course of business. It represents the claims of a firm against its customer and is shown on the asset side of balance sheet under title such as accounts receivable, trade receivables, customer receivables or book debts.

Debt involves an element of risk and bad debts. Selling goods on credit result in blocking of fund in accounts receivable, and therefore, additional funds are required for the operating needs of the business, which involve extra cost in terms of interest. Increase in receivables also increasing chances of bad debts. The goal of receivables management is to maximize the value of the firm by achieving a tradeoff between risk and profitability. The purpose of receiving is directly connected with the objective with the objective of making credits sales. These are achieving growth in sales, increasing profits and meeting competition. The overall objective of committing funds to receivables is to generate a large flow of operating revenue and hence profit what would be achieved in the absence of such commitment.

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Market opportunities

Market research attempts to evaluate your market in a scientific manner. It is also an art, because it involves the constantly changing attitudes of people. By collecting marketing marketing data in an ordely, objective manner you will be able to know more about your markets. No matter what the size of your business, there is a need to determine the attitudes, opinions and beliefs of your customers.Marketability works with you have the right product, pricing, and delivery strategies for your sales team for maximum result, the most operating system and procedures, the most effective marketing and communication tactics. Many business offer good product, but unless the entrepreneur takes advantages of market opportunities, few of these product will be sold. Factors related to perceiving new marketing opportunity included conducting marketing research, gathering data from various sources and selecting a business location. Entrepreneur has a constant need for information and knowledge about their markets. The purpose of marketing is to satisfy the demand of customers, and it is through research that you will be better able to make marketing decision. Market research can help you to find profitable market, to select saleable product, to determine changes in consumer behavior improve marketing techniques and plan realistic objectives. The purpose of market makes the mistake of basing decision on their own feelings and opinions. To be valid, however, your desion should he based on the best information available. Market research will help you identify new markets to enter, and to find new customers in your existing markets. You should know the reasons for your current product’ success or failure, and have ideas about new products, which have potential.

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