Visit my new tenant (http://www.tworedpaperclips.com/). I was going to write a review about my new tenant but I won’t. I will not do it because this blog is very different and peculiar. It is about a project and it has a diary form. By reviewing it, I may spoil the concept so just pay a visit and you will understand what this is about. Oh… read the posts, they are interesting. The whole project although not innovative is really authentic so take some time.
Sunday, May 07, 2006
Tenant
Friday, May 05, 2006
Business Strategy Evolution: Part C
This is the third part of some thoughts about how business strategy will evolve in the future. Have a look below to see the previous part too. These were my thoughts at this time. Should I have more thoughts about this topic at a later time, I will post it.
Information Overflow
Businesses were always striving for more information to enable them decision-making and more accurate predictions. That led to advanced information systems, technological advancements, IT departments stuffed by experts, ERP, CRM and other software to handle all that information. That information race however led to information overflow. Moreover web 2.0 made information available to all consumers and facilitated its exchange and sharing thus resulting in companies having to manage that overflow both internally and externally. Nowadays companies will have to adopt sophisticated systems to easily and effectively manage information flow into the corporation, out of the corporation and furthermore track and take (some) control of the relevant information that exists out there. Imagine a dissatisfied blogger posting his/her grievances on his/her blog and even worse commenting on thousands of other about your bad customer service or product. How a company can track that information and find ways to answer back or apologize for a bad incidence?
Further Segmentation of Markets
Another characteristic of modern markets is its variety and diversity of products. A single need can now be satisfied with hundreds if not thousands of similar products. Companies have developed targeting and niche markets in order to succeed and survive in the long-term. However competition is now starting to even strike niche markets and highly targeted consumers have plenty of alternatives options. In the not to far future, businesses of all sizes will have to segment the market they deliver to, even more. They will have to develop more niches, target at even tighter groups and aim at keeping their clients loyal and satisfied. It will not be easy anymore to substitute a dissatisfied customer with a new one, so customer service and loyalty programs are number one success factors. Thus for business to find their niches, they will have to strive more: it will be difficult to track them, advertise at them and convert them to customers and later on to advocates (very loyal customers, free and quality advertisers). Businesses will have to offer a lot more to get far less that they used to. Common advertising will be highly ineffective of course.
Information Overflow
Businesses were always striving for more information to enable them decision-making and more accurate predictions. That led to advanced information systems, technological advancements, IT departments stuffed by experts, ERP, CRM and other software to handle all that information. That information race however led to information overflow. Moreover web 2.0 made information available to all consumers and facilitated its exchange and sharing thus resulting in companies having to manage that overflow both internally and externally. Nowadays companies will have to adopt sophisticated systems to easily and effectively manage information flow into the corporation, out of the corporation and furthermore track and take (some) control of the relevant information that exists out there. Imagine a dissatisfied blogger posting his/her grievances on his/her blog and even worse commenting on thousands of other about your bad customer service or product. How a company can track that information and find ways to answer back or apologize for a bad incidence?
Further Segmentation of Markets
Another characteristic of modern markets is its variety and diversity of products. A single need can now be satisfied with hundreds if not thousands of similar products. Companies have developed targeting and niche markets in order to succeed and survive in the long-term. However competition is now starting to even strike niche markets and highly targeted consumers have plenty of alternatives options. In the not to far future, businesses of all sizes will have to segment the market they deliver to, even more. They will have to develop more niches, target at even tighter groups and aim at keeping their clients loyal and satisfied. It will not be easy anymore to substitute a dissatisfied customer with a new one, so customer service and loyalty programs are number one success factors. Thus for business to find their niches, they will have to strive more: it will be difficult to track them, advertise at them and convert them to customers and later on to advocates (very loyal customers, free and quality advertisers). Businesses will have to offer a lot more to get far less that they used to. Common advertising will be highly ineffective of course.
Thursday, April 27, 2006
Business Strategy Evolution: Part B
Ok, this is the second part of the evolution of business strategy. I have some thoughts but unfortunately very few spare time to write them down and post them here... This is the second part which is very short but I am already working on the third (and maybe last) part.
The Beta Products
Harsh competition forced many companies to speed the process of product development and resulted in a model where customers are also testers of the early stages of products. Beta versions are very popular and common on the internet. Furthermore beta versions apply more to services and tangible products rather than regular products (I can’t imagine Beta toothpaste!). Two are the key points when discussing the beta products: Firstly, betas mean less testing for the company thus lower investments. Lower investments lead to lower risks associated with product failure. So, we come to the second point: The collaborative model where business and customer cooperate for the interest of both (company for increased profits, customer for better experience). In that model, customers constantly give valued feedback to the company and in a way they actively participate in the product development.
So in brief, Beta products help companies be ahead of competition and lower the risk of product failure, which in normal occasions is very high (the majority of products fail either in development or at their launch).
The Experience Approach
Businesses are trying a different approach in delivering products; a holistic approach. From the core product, we have advanced to an escorting set of services as a point of differentiation. From now on, companies are starting to transform products’ & services’ consuming to “Experiences”. That is a new emerging approach that is unexploited yet. Experience means more integration of services, more customer satisfaction and a strong focus on loyalty and value for customer.
The Beta Products
Harsh competition forced many companies to speed the process of product development and resulted in a model where customers are also testers of the early stages of products. Beta versions are very popular and common on the internet. Furthermore beta versions apply more to services and tangible products rather than regular products (I can’t imagine Beta toothpaste!). Two are the key points when discussing the beta products: Firstly, betas mean less testing for the company thus lower investments. Lower investments lead to lower risks associated with product failure. So, we come to the second point: The collaborative model where business and customer cooperate for the interest of both (company for increased profits, customer for better experience). In that model, customers constantly give valued feedback to the company and in a way they actively participate in the product development.
So in brief, Beta products help companies be ahead of competition and lower the risk of product failure, which in normal occasions is very high (the majority of products fail either in development or at their launch).
The Experience Approach
Businesses are trying a different approach in delivering products; a holistic approach. From the core product, we have advanced to an escorting set of services as a point of differentiation. From now on, companies are starting to transform products’ & services’ consuming to “Experiences”. That is a new emerging approach that is unexploited yet. Experience means more integration of services, more customer satisfaction and a strong focus on loyalty and value for customer.
Monday, April 24, 2006
The Evolution of Business Strategy: Part A
I saw a post in one of the blogs I read (The Messaging Times) about the evolution of Strategic Management and Business Strategy. See the post here: http://www.messagingtimes.com/blog/?p=218. Dmitry Linkov (http://www.dmitrylinkov.com/) is writing his Master Diploma work and he can use some help and thoughts about the evolution of business strategy and management.
Below I post some of my thoughts about the subject… this is the first part:
SME Shelter
The internet is the last frontier for small and medium sized businesses in order to compete with the contemporary giants. I foresee two possible scenarios:
The Referring Economy
Another trend that will gain much popularity and importance is the “Referring Economy”. Referring Economy is the system in which each individual will have great referring power and he/she will be in position to make really great impact in economy and markets. This goes further than the average affiliate selling program; each of us will have a great amount of information and choices thus enabling us to refer others to use the services and consume the products either we know and trust or we have a vested interest at them. Viral marketing and word-of-mouth will be the case in the first occasion and affiliating / referring the later.
Below I post some of my thoughts about the subject… this is the first part:
SME Shelter
The internet is the last frontier for small and medium sized businesses in order to compete with the contemporary giants. I foresee two possible scenarios:
- Web 2.0 and modern internet trends will shelter small and medium sized businesses and will become the strategic center where these businesses will answer back and proactively claim customers’ attention and preference. That will happen through management of change, customer careful listening / trend watching and finally through advanced specialization, know-how, intensive and innovative ways to compete.
- Big corporations and multinationals will fast and easily respond to the latest trends such as blogging, internet affiliating and referring, infolust, etc. They will carefully adapt those latest developments and moreover they would be available to evolve those concepts to even more innovative projects and wealth channels for them.
The Referring Economy
Another trend that will gain much popularity and importance is the “Referring Economy”. Referring Economy is the system in which each individual will have great referring power and he/she will be in position to make really great impact in economy and markets. This goes further than the average affiliate selling program; each of us will have a great amount of information and choices thus enabling us to refer others to use the services and consume the products either we know and trust or we have a vested interest at them. Viral marketing and word-of-mouth will be the case in the first occasion and affiliating / referring the later.
Thursday, April 20, 2006
Ad Copy
Copy is the message that an ad is trying to communicate. Sometimes it is a written message in a newspaper or a website and sometimes a short video in tv or an audio file on a radio broadcast, etc. Whether written, read or transmitted in any way, copy is what the advertiser wants us to listen and pay attention to.
All advertisements tell a story; sometimes a story is more appealing or less appealing than others. So, in order to have an eye-catching, effective ad you need an attractive story but also the right copy. Think of that: The same story seems to appeal differently from storyteller to storyteller. Exactly the same applies to different copies for the same story.
Every ad message is based in either logical reasons or sentimental reasons. Sometimes it refers to both ways. There is no perfect solution; according to the product or service and the ad audience it may be preferable to enlist logical reasons (e.g. for a business software or an ERP) or sentimental reasons (e.g. for a luxurious and status car).
As regards the ad copy there are two options as well. You can either be direct to your audience or indirect. Direct copy means that it is written like you refer to the each of the audience personally while indirect is more of a general call for action. Direct copies are very common in internet ads and in infomercials. Indirect ads are more common in other media like regular tv ads and newspapers. There is also no better solution between those two. Sometimes it is more preferable to be direct and other to be indirect. An example of preferable direct copies may refer to products that sales are based in impulse purchases while in products where much consideration is needed before an action is taken, indirect messages may be better. Generally in low involvement products or services, direct ads are better. On the contrary, in high involvement products indirect messages may be better. Of course this is not a rule and doesn’t apply in all occasions.
It is also very common for ads based in sentimental reasons to use copies that respond directly to the audience, while those that cite logical reasons to have a more indirect approach.
Fine Resources on the net about how to write effective ad copies:
All advertisements tell a story; sometimes a story is more appealing or less appealing than others. So, in order to have an eye-catching, effective ad you need an attractive story but also the right copy. Think of that: The same story seems to appeal differently from storyteller to storyteller. Exactly the same applies to different copies for the same story.
Every ad message is based in either logical reasons or sentimental reasons. Sometimes it refers to both ways. There is no perfect solution; according to the product or service and the ad audience it may be preferable to enlist logical reasons (e.g. for a business software or an ERP) or sentimental reasons (e.g. for a luxurious and status car).
As regards the ad copy there are two options as well. You can either be direct to your audience or indirect. Direct copy means that it is written like you refer to the each of the audience personally while indirect is more of a general call for action. Direct copies are very common in internet ads and in infomercials. Indirect ads are more common in other media like regular tv ads and newspapers. There is also no better solution between those two. Sometimes it is more preferable to be direct and other to be indirect. An example of preferable direct copies may refer to products that sales are based in impulse purchases while in products where much consideration is needed before an action is taken, indirect messages may be better. Generally in low involvement products or services, direct ads are better. On the contrary, in high involvement products indirect messages may be better. Of course this is not a rule and doesn’t apply in all occasions.
It is also very common for ads based in sentimental reasons to use copies that respond directly to the audience, while those that cite logical reasons to have a more indirect approach.
Fine Resources on the net about how to write effective ad copies:
Wednesday, April 19, 2006
New Tenant!
I am very happy to announce that I have a new tenant (this is actually the first time I use the renting feature in my blog)! It is a very good blog about advertising on the internet, online promotion and the use of technology and new developments (such as blogging) for marketing and success. The blog's name is CoolAdzine for Marketers and the blogger is CyberCelt.
I am particularly happy not only because of the relevant content but also for the quality of the posts and the freshness (at least one post every 2 days). So pay a visit, you will like it!
The url is: http://cooladzine.blogspot.com/
Most recent posts so that you have a sample:
I am particularly happy not only because of the relevant content but also for the quality of the posts and the freshness (at least one post every 2 days). So pay a visit, you will like it!
The url is: http://cooladzine.blogspot.com/
Most recent posts so that you have a sample:
Monday, April 17, 2006
Sites about Small Business Resources
All Business is a very good website with resources about small business, business advice, answers from experts, business plans and many business administration and management topics (including sales, marketing, finance, accounting, etc.). The url for this site is: http://www.allbusiness.com/.
Other good sites about Business and particularly small ones are:
http://www.entrepreneur.com/ - Business and Small business resources
http://www.startupjournal.com/ - Start up Journal (Wall street journal, center for entrepreuneurs).
- Do you know of other good sites about business resources, marketing, management? Post a comment please...!
Other good sites about Business and particularly small ones are:
http://www.entrepreneur.com/ - Business and Small business resources
http://www.startupjournal.com/ - Start up Journal (Wall street journal, center for entrepreuneurs).
- Do you know of other good sites about business resources, marketing, management? Post a comment please...!
Saturday, April 01, 2006
Internet marketing e-books
Lately, I‘ve been reading a lot about internet marketing and strategies to success, about web 2.0, even affiliate programs and business opportunities!
After a lot of research I have found some good e-books or better e-guides about online marketing and the use of web 2.0 to spread your message. Many of these books are written by the online marketing guru Seth Godin. Visit his blog and download his ebooks at: http://sethgodin.typepad.com/. You will find among others: Who’s there, which is about blogging (for business and not for business), flipping the funnel which is about viral internet marketing (in three editions: company, politics, non-profit). Demo e-books are also included such as Permission Marketing etc. Note that these books are very short and easy to read.
Thursday, March 23, 2006
Notification on my websites
This is a notification that my sites showed in the last but one post were all deleted (Global Solutions, ERP, etc.).
There were too many sites and I couldn't manage them all. So instead of being incomplete I have chosen to delete them.
There were too many sites and I couldn't manage them all. So instead of being incomplete I have chosen to delete them.
Friday, March 10, 2006
Search Engine Optimization (SEO)
Search Engine Optimization is an advanced internet marketing technique in which a website is being optimized for better ranking in search engines. Provided the fact that millions of users visit search engines such as Google and Yahoo! everyday searching for specific products or sites, a high ranking can offer a great advantage to its owner.
Search Engine Optimization is done using submissions of the sites to the engines and with keyword that attract customers (such as "free", "download", etc.) and may be searched by them. Normally those services are available by specialized companies who are responsible for tasks like these. However many companies overcharge for services like that. Although SEO is very useful it is not the perfect marketing tool and it must be combined with other marketing techniques (both internet marketing tools and traditional ones) thus internet businesses should keep the spending on SEO techniques at low levels. A balance between SEO and other marketing means should be kept because high rankings in search engines do not guarantee neither sales nor high visibility of the respective site.
Internet marketers are divided on those who are in great favor of SEO and those who believe it is not a very good investment. The best way to find out for one's individual need is to measure ROI (that is Return On Investment). A site owner can initiate a SEO and measure the outcome (cost - benefit analysis) and find out if it is a good investment (with high return that is sales) or a bad one (with low visibility and/or sales). A useful tip at this first step is to keep initial costs at low level so as to find if that technique is favorable or not.
Search Engine Optimization is done using submissions of the sites to the engines and with keyword that attract customers (such as "free", "download", etc.) and may be searched by them. Normally those services are available by specialized companies who are responsible for tasks like these. However many companies overcharge for services like that. Although SEO is very useful it is not the perfect marketing tool and it must be combined with other marketing techniques (both internet marketing tools and traditional ones) thus internet businesses should keep the spending on SEO techniques at low levels. A balance between SEO and other marketing means should be kept because high rankings in search engines do not guarantee neither sales nor high visibility of the respective site.
Internet marketers are divided on those who are in great favor of SEO and those who believe it is not a very good investment. The best way to find out for one's individual need is to measure ROI (that is Return On Investment). A site owner can initiate a SEO and measure the outcome (cost - benefit analysis) and find out if it is a good investment (with high return that is sales) or a bad one (with low visibility and/or sales). A useful tip at this first step is to keep initial costs at low level so as to find if that technique is favorable or not.
Tuesday, February 28, 2006
Business Management & Marketing Website
I am in the process of making a new fantastic website / portal about marketing and business management. My site's url is: http://business-experts.atspace.com
Currently there are not enough contents but I am going to add soon. If anyone wants to contribute to this site please send me email. I will be more than glad to co-operate with a specialized marketer or business manager.
Visit Business Experts at: http://business-experts.atspace.com
Please fell free to comment on my new site and to suggest new topics or propose improvements in articles or site structure. Your help is much appreciated!
Currently there are not enough contents but I am going to add soon. If anyone wants to contribute to this site please send me email. I will be more than glad to co-operate with a specialized marketer or business manager.
Visit Business Experts at: http://business-experts.atspace.com
Please fell free to comment on my new site and to suggest new topics or propose improvements in articles or site structure. Your help is much appreciated!
Wednesday, December 21, 2005
The steps of sale
Others refer to it as the marketing or sales cycle and others as the steps of sales. No matter how it is called or how many steps of sales exist, one thing is sure. In order to obtain a new client or customer there is a certain procedure. The client should pass through some phases. Those phases are in general: Cognition of existence, Product Knowledge and Readiness for sale. In the first stage the customer gets aware of your product or service and of your existence. In the second step he becomes familiar with the product either he/she learns a lot of things or he/she knows of the basic features of the product. In the last stage the customer is ready for action that is to buy the product. It is not as much important to name correctly the steps or to break those down to even more stages, as the comprehension of that exact process. There are four types of customers: those who know nothing, those who know little or many, and those who are ready. It is of great importance for a successful sale for the customer to go through all stages step by step. The immediate transference from stage 1 to stage 3 is exertion of great press. The customer should successively transfer from stage to stage and this may require more time (e.g. more visits) and effort but in exchange it will build a strong relation between you and your customers, repeated sales, word – of – mouth and many other advantages.
Wednesday, August 24, 2005
What’s new in this blog?
Major Changes were done and are going to be done very soon. This blog has changed character. It is now becoming Scientific and Technical only. Particularly Marketing and subcategories of Marketing, Internet and other related issues should be discussed exclusively! Since I now have my MSN Space, I would post other topics there.
Moreover the sidebar was changed:
Links to other Marketing Blog were added as well as other Marketing Sites. Furthermore these links should be updated and many more should be added soon. Do you have any links to suggest? Go on, add a comment / post of the relevant URL or send me email!!!
Moreover the sidebar was changed:
Links to other Marketing Blog were added as well as other Marketing Sites. Furthermore these links should be updated and many more should be added soon. Do you have any links to suggest? Go on, add a comment / post of the relevant URL or send me email!!!
Monday, August 22, 2005
My first podcast!!
My first podcast through Nostos Radio is available at the URL: http://www.archive.org/audio/audio-details-db.php?collectionid=Nostos_Podcasting2&collection=opensource_audio
It has technical contents about podcasting and is in Greek Lanquage. More podcasts may be available in the next days!
It has technical contents about podcasting and is in Greek Lanquage. More podcasts may be available in the next days!
Saturday, August 20, 2005
Kinds of Corporate Social Initiatives and major problems-challenges when designing a Corporate Social Responsibility Program
Those involved with the development of corporate social responsibility initiatives always face the problem of which kind of corporate programs about social responsibility to adopt. This is indeed a great challenge for a marketer and may lead to an unprecedented success or a complete disaster! Hence there is great need for a careful plan to be designed and be successfully integrated. Although there are several categories that social initiatives fall in, it is preferable for a company to choose one or more categories rather to implement many different programs which will likely cause little cooperation and may confuse the customers. A full descriptive study about different types of CSR initiatives is included in Kotler’s and Lee’s book: Corporate Social Responsibility. The writers group the most common CSR programs (those which fall into the corporate social responsibility concept umbrella) in 6 categories: cause promotion, cause related marketing, corporate social marketing, corporate philanthropy, social responsibility practices and employee volunteering. Also note that this categorization is not the only one. For example many companies choose to categorize programs in group of similar activities such as environmental activities etc. Or other companies implement social responsibility programs categorized according to the respective stakeholder. For each CSR category there are specific steps in creating the plan of action. Many of these steps are similar for different categories or even exactly the same.
The second more important decision, beyond what social issue should one get tied with, is if one should include partners (both for-profit or not-for-profit) and if so, what partners and what kind of partnership to tie? Partnerships can play a very important role in a CSR’s program success. Strong Partners can wield great influence upon pressure groups and consumers and thus they can reinforce the company’s brand name and add value for the firm. Moreover partners can link the company with several stakeholders, they can add validity and reliability to a CSR initiative and provide with the necessary know-how.
The second more important decision, beyond what social issue should one get tied with, is if one should include partners (both for-profit or not-for-profit) and if so, what partners and what kind of partnership to tie? Partnerships can play a very important role in a CSR’s program success. Strong Partners can wield great influence upon pressure groups and consumers and thus they can reinforce the company’s brand name and add value for the firm. Moreover partners can link the company with several stakeholders, they can add validity and reliability to a CSR initiative and provide with the necessary know-how.
Thursday, August 18, 2005
My first uplifting trance track Now ONLINE!!!
I 've recently uploaded one of my trance tracks at www.archive.com (using Creative Commons License) made with Fruty Loops. Feel free to download it, listen it, copy it, distribute and remix it, there are no copyrights!!! It's name is "Uplifting Friday" and the URL is:
"http://www.archive.org/audio/audio-details-db.php?collection=opensource_audio&collectionid=Zip3UpliftingFriday"
I am going to make more of my tracks available for downloading soon... So stay tuned for more urls and tracks...
"http://www.archive.org/audio/audio-details-db.php?collection=opensource_audio&collectionid=Zip3UpliftingFriday"
I am going to make more of my tracks available for downloading soon... So stay tuned for more urls and tracks...
Monday, August 08, 2005
Customer Relationship Management (CRM)
The last days while surfing the internet, I have come across many sites and blogs about customer relationship management. I have taken aback by the amazing wealth of resources and programs these sites include and the lot of fuss among internet users about this topic!
Customer Relationship Management has come to satisfy the need of marketers for better repurchase rates (repeated sales) of current customers. They have found that total quality management, after and during the sale services and all other value-adding processes are not enough to achieve customer retention (due to the rough competition and the increasing customer demands); they also need to build strong relations with their customers and to find ways to manage that relationship efficiently! Customer Relationship Management systems provide the frame and the tools for the necessary and appropriate activities. Through the data-mining of customers they can response to his / her needs better (e.g. by customizing the product to suit one’s needs).
The concept behind CRM is Relationship Marketing (treat each of your customers specially) and Database Marketing (which enables data-mining practices for the relationship management). Actually the hard core of CRM software includes a huge database where all customers’ data are entered, processed and kept in order to provide fast and accurate information about the customer in the first demand. Information about the customer can bring great success to the company in many ways as described below.
Advantages of CRM systems:
• They can provide marketers with vital and of great importance information about the products they sell, the market’s needs, they can also help with the positioning of the product (in consumers’ minds) and with segmentation.
• They can facilitate processes of the sales force. For example some regularities such as fixed sales every month for a customer.
• CRM systems may provide the necessary information about the product customization for a specific client
• They can add great value to the brand name, the company and its products by offering value to its customers. For example a company can offer a gift at a customers’ birthday or a check for products on its stores. These practices can lead to increased customers’ satisfaction and enhanced brand loyalty (something which typically will evoke high repurchase rates!)
CRM systems are continuously being adopted by an increased number of enterprises which are now starting to evaluate the great value and importance these systems provide. Also note that a CRM system should provide adequate information without being too much information saturated because that will became a great hindrance for marketers to make the right decisions and will cause much inefficiency.
Customer Relationship Management has come to satisfy the need of marketers for better repurchase rates (repeated sales) of current customers. They have found that total quality management, after and during the sale services and all other value-adding processes are not enough to achieve customer retention (due to the rough competition and the increasing customer demands); they also need to build strong relations with their customers and to find ways to manage that relationship efficiently! Customer Relationship Management systems provide the frame and the tools for the necessary and appropriate activities. Through the data-mining of customers they can response to his / her needs better (e.g. by customizing the product to suit one’s needs).
The concept behind CRM is Relationship Marketing (treat each of your customers specially) and Database Marketing (which enables data-mining practices for the relationship management). Actually the hard core of CRM software includes a huge database where all customers’ data are entered, processed and kept in order to provide fast and accurate information about the customer in the first demand. Information about the customer can bring great success to the company in many ways as described below.
Advantages of CRM systems:
• They can provide marketers with vital and of great importance information about the products they sell, the market’s needs, they can also help with the positioning of the product (in consumers’ minds) and with segmentation.
• They can facilitate processes of the sales force. For example some regularities such as fixed sales every month for a customer.
• CRM systems may provide the necessary information about the product customization for a specific client
• They can add great value to the brand name, the company and its products by offering value to its customers. For example a company can offer a gift at a customers’ birthday or a check for products on its stores. These practices can lead to increased customers’ satisfaction and enhanced brand loyalty (something which typically will evoke high repurchase rates!)
CRM systems are continuously being adopted by an increased number of enterprises which are now starting to evaluate the great value and importance these systems provide. Also note that a CRM system should provide adequate information without being too much information saturated because that will became a great hindrance for marketers to make the right decisions and will cause much inefficiency.
Wednesday, August 03, 2005
Corporate Social Responsibility # 2: Business Ethics
Continuing the article about CSR (corporate social responsibility), I would like to discuss about the ethical part of businesses and the part ethics play both in the performance of a company and in the planning of a CSR program.
Ethical questions arise very often in the business world not only in strategic level but also in everyday decisions about normal and usual activities of the company. Managers should follow the guidelines and the main principals of the company in order to resolve ethical problems and answer to difficult questions. Under the context of CSR and Business Ethics a manager should always seek to find the moral answer to his questions and decide to act good to the environment and the society in general. Reasons to support the context of CSR have been discussed in an older post below. Consequently, managers when deciding which option to choose, the first which cause harm or the second which has a positive impact on society, should choose the latter.
Real problems arise when both choices are ethically right and good!!! On occasions like this –which are not very rare – managers face great dilemmas as to which option to choose and which good practice should sacrifice in order to provide greater welfare to individuals and society. A good idea then is to consult the main principles of the company or organization in which he/she works and find which option is evaluated as more important and higher in the main objectives list. One can ask guidance from his/her supervisors, from code of ethics of one’s company or relevant manuals, etc. However there are some dilemmas which are not being addressed by the code of ethics of the company (or organization) or are ambiguous. In those occasions things are even harder for managers to decide. The real interest and an integrated education and deployment of ethics in the organization in which ethical questions have not been addressed can provide the ground for the solution of the problem/challenge, while the final answer would be made by the manager. An example of such a good against good decision is given –among others – in the book “Business Ethics” by Chris Moon, Clive Bonny et al., (Profile Books Ltd.): A company has very strict rules against bribery but when it comes about human lives which can be saved (for example a pharmaceutical company during a war), decisions are very tough to be made and may be against shareholders opinions, law and reputation. Thus when one have to choose between conceding bribery for many lives to be saved or against bribery (in favor of company integrity, legitimacy and good reputation) and loss of lives, could be in deep water. Many examples could be cited (one is referred to the above book), but the questions are not being addressed.
On conclusion, as above, moral integrity and ethical education can provide the frame for answering difficult moral questions but cannot provide solutions to real dilemmas, who have to been addressed effectively by individual managers.
Another good reference is: Kotler Philip, Lee Nancy, Corporate Social Responsibility, John Wiley & Sons Inc., 2005
Ethical questions arise very often in the business world not only in strategic level but also in everyday decisions about normal and usual activities of the company. Managers should follow the guidelines and the main principals of the company in order to resolve ethical problems and answer to difficult questions. Under the context of CSR and Business Ethics a manager should always seek to find the moral answer to his questions and decide to act good to the environment and the society in general. Reasons to support the context of CSR have been discussed in an older post below. Consequently, managers when deciding which option to choose, the first which cause harm or the second which has a positive impact on society, should choose the latter.
Real problems arise when both choices are ethically right and good!!! On occasions like this –which are not very rare – managers face great dilemmas as to which option to choose and which good practice should sacrifice in order to provide greater welfare to individuals and society. A good idea then is to consult the main principles of the company or organization in which he/she works and find which option is evaluated as more important and higher in the main objectives list. One can ask guidance from his/her supervisors, from code of ethics of one’s company or relevant manuals, etc. However there are some dilemmas which are not being addressed by the code of ethics of the company (or organization) or are ambiguous. In those occasions things are even harder for managers to decide. The real interest and an integrated education and deployment of ethics in the organization in which ethical questions have not been addressed can provide the ground for the solution of the problem/challenge, while the final answer would be made by the manager. An example of such a good against good decision is given –among others – in the book “Business Ethics” by Chris Moon, Clive Bonny et al., (Profile Books Ltd.): A company has very strict rules against bribery but when it comes about human lives which can be saved (for example a pharmaceutical company during a war), decisions are very tough to be made and may be against shareholders opinions, law and reputation. Thus when one have to choose between conceding bribery for many lives to be saved or against bribery (in favor of company integrity, legitimacy and good reputation) and loss of lives, could be in deep water. Many examples could be cited (one is referred to the above book), but the questions are not being addressed.
On conclusion, as above, moral integrity and ethical education can provide the frame for answering difficult moral questions but cannot provide solutions to real dilemmas, who have to been addressed effectively by individual managers.
Another good reference is: Kotler Philip, Lee Nancy, Corporate Social Responsibility, John Wiley & Sons Inc., 2005
New to blog?
Are you newbie to blogging? You must know that new innovative technologies like blogs can offer you a great mean to get and stay in touch with your friends all over the world or even obtain new with common interests like you!
Especially for those who don’t know html scripting and want an easy and prompt way to post messages and publish ideas, images and get feedback! The friendly interface however can limit the user’s choices concerning the appearance and the personal style of the blog. Although there are some themes/templates ready to use (which in fact are very nice and practical) those are few and cannot represent the personal style of the owner. However, the user can alter and modify those templates in fit his/hers personal taste and personality by editing the html script.
Html scripting is in fact very simple and easy if taught or studied but an inexperienced user cannot dissemble the code very easily at once. One has to learn the basics to comprehend the way html script works. As regards the blogs, most blogger templates consist of 3-4 units. The main page – index which provides the main routines and the header, the place where posts are published, the sidebar which includes other parts of the blog like user’s profile, post indexes, etc. and may have a footer. So, when one would like to add a site meter should use the sidebar for better viewing and effictiveness of the blog. He or she should find the part of the code which contain the script for the sidebar and add the meter (for example he/she could paste the html code) wherever decides to be viewed. That is how the personal modification of the blog works. One can decide for example to change the fonts, colors or to add several web components on his/her blog and improve its appearance and functionality.
Especially for those who don’t know html scripting and want an easy and prompt way to post messages and publish ideas, images and get feedback! The friendly interface however can limit the user’s choices concerning the appearance and the personal style of the blog. Although there are some themes/templates ready to use (which in fact are very nice and practical) those are few and cannot represent the personal style of the owner. However, the user can alter and modify those templates in fit his/hers personal taste and personality by editing the html script.
Html scripting is in fact very simple and easy if taught or studied but an inexperienced user cannot dissemble the code very easily at once. One has to learn the basics to comprehend the way html script works. As regards the blogs, most blogger templates consist of 3-4 units. The main page – index which provides the main routines and the header, the place where posts are published, the sidebar which includes other parts of the blog like user’s profile, post indexes, etc. and may have a footer. So, when one would like to add a site meter should use the sidebar for better viewing and effictiveness of the blog. He or she should find the part of the code which contain the script for the sidebar and add the meter (for example he/she could paste the html code) wherever decides to be viewed. That is how the personal modification of the blog works. One can decide for example to change the fonts, colors or to add several web components on his/her blog and improve its appearance and functionality.
Monday, August 01, 2005
Corporate Social Resposibility
I 've been inactive for a while, sorry about that!
I would like to discuss a few things about corporate social responsibility, a fast growing concept which is not as considered such a new idea!
Corporate Social Responsibility
Corporate Social Responsibility is about activities undertaken by corporations and organisations as regards environmental and social issues. It is about environmental protection measures such as reforestation or activities against sea contamination; sociatal issues such as unemployment programs, human rights support, local communities support etc.
Social Responsibility while it seems to be against shareholders' interests and share value can have a positive impact to the price of a share. Several researches from many countries have shown that although there are some others with ambiguous results.
Corporate Social Responsibility:
I would like to discuss a few things about corporate social responsibility, a fast growing concept which is not as considered such a new idea!
Corporate Social Responsibility
Corporate Social Responsibility is about activities undertaken by corporations and organisations as regards environmental and social issues. It is about environmental protection measures such as reforestation or activities against sea contamination; sociatal issues such as unemployment programs, human rights support, local communities support etc.
Social Responsibility while it seems to be against shareholders' interests and share value can have a positive impact to the price of a share. Several researches from many countries have shown that although there are some others with ambiguous results.
Corporate Social Responsibility:
- Can boost a corporation's reputation (by increased publicity, strong Brand name building, word-of-mouth, etc.)
- Can save millions from prosecutions, negative publicity, riots, provoked by dissatisfied customers, pressure groups, local communities and the sevaral stakeholders (there are many examples of corporations which have been damaged in millions dollars and reputation)
There are several programs that corporations undertake, some of them may be:
- Support for literacy
- Support for Humal Rights and Labour Relations
- Fight against environmental pollution (air pollution, sea contamination)
- Fight against hunger, diseases (such HIV), race and other discriminations
- Support for child's rights and against children's employment
- Local community support (local umemployment, sustainable development and resources of local communities)
- Support for culture, science, sports etc.
There is not any standard program to undertake or any best policy to adopt. The best way to involve into corporate social responsibility practises is to find the needs of your corporation, the obtainability of your objectives and the impact your business has to the sociaty and the environment. Then you can choose the best program to fit your business goals and objectives and create your plan of action. It is also crucial to enable channels for interaction and communication with your stakeholders (shareholders, state, employees, suppliers and customers, pressure groups etc.) and support feedback from those groups. Thus you can be enable to predict the impact of your actions, mentain a good and honest communication and relation with your stakeholders something which will give you their help and support.
That's for now! Stay tuned-in for more articles and resources about Business and Marketing practices...
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