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	<title>Business Management Strategy &#187; Business</title>
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	<link>http://www.skallagrimur.org</link>
	<description>Provides business management articles, marketing, sales, customer, research, analysis, branding, innovation etc</description>
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		<title>Putting New Life Blood into Your Business: Innovation</title>
		<link>http://www.skallagrimur.org/innovation/putting-new-life-blood-into-your-business-innovation/</link>
		<comments>http://www.skallagrimur.org/innovation/putting-new-life-blood-into-your-business-innovation/#comments</comments>
		<pubDate>Sun, 31 Oct 2010 06:46:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Innovation]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Business Innovation]]></category>
		<category><![CDATA[Customer Satisfaction]]></category>
		<category><![CDATA[Opportunity]]></category>
		<category><![CDATA[Tips]]></category>

		<guid isPermaLink="false">http://www.skallagrimur.org/?p=438</guid>
		<description><![CDATA[If you run or manage a business and want to be around a long time, you need to spend much of their time to innovate. This  is because in a rapidly changing world where people expect things  better and cheaper and cheaper, innovation is the way ahead of your  competitors.
Here are 7 [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.skallagrimur.org/wp-content/uploads/2010/10/buisness-innovation.jpg"><img class="alignleft size-medium wp-image-439" title="buisness innovation" src="http://www.skallagrimur.org/wp-content/uploads/2010/10/buisness-innovation-300x300.jpg" alt="" width="300" height="300" /></a>If you run or manage a <a href="http://www.skallagrimur.org/" target="_blank">business</a> and want to be around a long time, you need to spend much of their time to innovate. This  is because in a rapidly changing world where people expect things  better and cheaper and cheaper, innovation is the way ahead of your  competitors.</p>
<p>Here are 7 ways to put new life blood of your organization through innovation.</p>
<p>1. Create a climate of innovation. Goran Ekvall, University of Lund in Sweden has set three conditions for a climate of innovation. They are: confidence, enthusiasm and humor. One case study Ekvall was a Swedish newspaper of the team working on the women&#8217;s section is always surpassed all other teams. The reason? In short, this group trust each other, had a high energy level and share a good sense of humor.</p>
<p>2. Developing creativity for laundry. According  to the institute Roffey Park Management, most flashes of inspiration  come to people when they are unemployed and do not force your conscious  brain to find solutions to their problems. For some, the ideas come while mowing the lawn or taking the dog for a walk or play golf or waiting at the station. Isaac Newton was an apple on his head as he sat in the garden. Archimedes, who was in the bathroom. For others, washing dishes, so Roffey Park calls these flashes of vision. &#8220;Wash Creativity&#8221;</p>
<p>3. Make new connections. Make new links between existing features of your product or service is a popular way to <a href="http://www.skallagrimur.org/category/innovation/" target="_blank">innovate</a>. Akio  Morita, Sony&#8217;s president, said he invented the Walkman because I wanted  to listen to music while walking between golf shots. His team, just join two apparently incompatible products: a recorder and a radio transistor.</p>
<p>4. Find out what people need. The need is great motivation for innovation. Take, for example, writing paper. The Chinese had already taken the role of rags around the year 100 BC, but because there was no place for her, he did not. When  he arrived in Europe during the Middle Ages, when the writing was in  vogue, the supply of rags and cloth worn soon exhausted. That&#8217;s when a French naturalist, made the discovery that the wasps nest in the wood to chew on a puree of dried thin film. In 100 years, all paper was made with the idea of wood pulp.</p>
<p>5. Test, test, test. Product testing is most inventors and organizations ranging from innovation. It can not be the quickest route to success, but it is often safer. Jonas  Salk, for example, found the vaccine against polio to spend most of  their time testing and testing and constantly discover what was wrong. Thomas Edison invented the incandescent lamp, recorded 1300 experiments were a complete failure. But he was able to move forward because, he said, he knew 1,300 ways that would not work.</p>
<p>6. To adopt and adapt. A relatively easy approach to innovation is to realize how others cope with problems and adapt their solutions to their own. He  is known as &#8220;adapt and adopt.&#8221; Watchmaker Swatch what when they  realized that the most reliable watches in the city is less need to  replace them. His solution? Borrowing an idea from the world of  collections mode and turning their clocks  desirable fashion accessory. Now people buy Swatch watches not only  tell time, but because it is &#8220;cool&#8221; to do so.</p>
<p>7. Take lessons from nature. If you really want to be creative, you can not beat nature. The natural world offers us a lot of prototypes for use in our own world. Take Velcro, for example. Velcro  was patented by George de Mestral in 1950 after returning from a  hunting trip covered with small bumps that had been attached to clothing  in layers of tiny hooks. De Mestral quickly realized that this was an ideal technique to hold the material together. A new way of doing things are invented suddenly.</p>
<p>World history is the history of innovation. Thomas  Kuhn has called each acceptance of an innovation of a new &#8220;paradigm  shift.&#8221; For once, a new innovation is accepted, the world has changed  forever and will never be as before.</p>
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		<title>Branding Your Business</title>
		<link>http://www.skallagrimur.org/branding/branding-your-business/</link>
		<comments>http://www.skallagrimur.org/branding/branding-your-business/#comments</comments>
		<pubDate>Tue, 29 Jun 2010 09:12:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Branding]]></category>
		<category><![CDATA[Brand Building Strategies]]></category>
		<category><![CDATA[Business]]></category>

		<guid isPermaLink="false">http://www.skallagrimur.org/?p=396</guid>
		<description><![CDATA[If you think only big corporate names, a big payday loans online corporate names for example, you need to think about things like  brand names, think again. Your brand says a lot about you and your  business, and that&#8217;s as true for a one person home-based operation as it  is for a [...]]]></description>
			<content:encoded><![CDATA[<p>If you think only big corporate names, a big <a href="http://www.ms-payday-loans.com/" target="_blank">payday loans online</a> corporate names for example, you need to think about things like  brand names, think again. Your brand says a lot about you and your  business, and that&#8217;s as true for a one person home-based operation as it  is for a multinational conglomerate. In this article we look at how  creating a strong brand for your business can help you set yourself  apart from the pack and lay the right foundation for the future growth  of your business.</p>
<p>WHAT IS A BRAND?</p>
<p>Your brand is more  than just the logo on your letterhead and business cards or your  business name. It is your corporate identity. An effective brand tells  the world who you are, what you do and how you do it, while at the same  time establishing your relevance to and credibility with your  prospective customers.</p>
<p>Your brand is also something more  ethereal. It is how your business is perceived by its customers. If your  brand has a high perceived value, you enjoy many advantages over your  competition, especially when it comes to pricing. Why do you think  people are prepared to pay stupid money for items of clothing with the  initials &#8220;CK&#8221; on them? Perceived value. Perceived value as a result of  very effective brand promotion resulting in very high brand awareness.</p>
<p>Now,  I&#8217;m not saying we all need to rush out and start creating brands that  are going to be recognized the world over. Most of us simply don&#8217;t have  the time or other resources necessary. What I am suggesting, however, is  that it is possible for your brand to dominate your niche.</p>
<p>WHY  DO I NEED TO CREATE MY OWN BRAND?</p>
<p>=&gt; Differentiation</p>
<p>We  touched on this in the previous section when we looked at what a brand  is and how it can be used to increase the perceived value of your  products and services. The main reason for creating your own brand is to  differentiate yourself from your competition. New websites are a dime a  dozen. So are home-based businesses. You need to constantly be looking  for ways to set yourself apart from your competition. Your brand can do  that for you.</p>
<p>=&gt; More Effective, Efficient Marketing<span id="more-396"></span></p>
<p>Another  good reason for creating your own brand is to make your sales force  (even if that&#8217;s a sales force of one &#8211; you) more effective and  efficient.</p>
<p>Imagine if you didn&#8217;t have to spend the first 50%  of your time with a new prospect explaining who you are, what you do and  how you do it. What if your brand had already communicated that for  you? You can spend 100% of your time focusing on sales rather than  educating your prospects about your business</p>
<p>Another benefit  of <a href="http://www.skallagrimur.org/category/branding/" target="_blank">branding</a> is that the efforts you expend increasing your brand  awareness through promoting and marketing your brand to your target  market automatically transfers to your products and services. So, even  when you&#8217;re advertising your brand, you&#8217;re indirectly also marketing  your products and services.</p>
<p>HOW DO I CREATE MY OWN BRAND?</p>
<p>OK,  so you&#8217;re convinced you need to create your own brand. Where on earth  do you start?</p>
<p>We saw earlier that your brand needs to say who  you are, what you do and how you do it. It needs to do all these things  at the same time as establishing your relevance to and building  credibilty with your prospective customers. Needless to say, it is  absolutely essential, if you are to build your own brand, that *you  yourself* have a firm grasp of who you are, what you do and how you do  it. If not, you&#8217;re going to have the devil&#8217;s own time getting that  message across to anyone else, let alone establishing your relevance and  credibility.</p>
<p>=&gt; Write A Mission Statement</p>
<p>So,  let&#8217;s start by creating a mission statement. What is the mission of your  business? Obviously you&#8217;re in business to make a profit. But making a  profit is a byproduct of a successful business. Focus instead on how you  choose to achieve that profit. What are your core values?</p>
<p>A  good place to begin thinking about your mission is to put yourself in  the shoes of your customers. Put yourself in their target market. Let&#8217;s  say your <a href="http://www.skallagrimur.org/" target="_blank">business</a> is web hosting. If you&#8217;re in the market for a web  host, what things are important to you? Different people will be looking  for different benefits but you can bet that they want their website to  be accessible to site visitors so reliability will be high on their  list. Price is also likely to be high on the list as is 24/7 technical  support. What about add-on features such as unlimited email aliases, cgi  support and what-not? These things will be highly important to some and  less important to others. So focus on the benefits that are likely to  be highly relevant to the majority of your target market. Let&#8217;s settle  for our purposes on reliability, price and technical support.</p>
<p>Your  mission statement might read something like this: &#8220;I strive to earn a  fair return on my investment of time and money by providing affordable  webhosting with guaranteed 99% uptime and 24/7 telephone technical  support&#8221;. That&#8217;s a pretty general statement and if you decide to focus  on a particular niche of the webhosting market, such as small business,  you may want to more narrowly focus on that group in your mission  statement.Now that you&#8217;ve written your mission statement, you can begin  thinking about creating a brand that reinforces and supports your  mission. So, getting back to the fundamental questions of who you are,  what you do and how you do it, you can now begin to think of your  business in these terms. You&#8217;re a webhosting provider, you host websites  of small businesses and you do that by offering cost-effective  webhosting solutions, guaranteed 99% uptime and 24/7 telephone technical  support.</p>
<p>When you create your brand, you need to keep the  who, what and how firmly in mind but also use the brand to establish  your relevance to your target market and build credibility with that  market.</p>
<p>Let&#8217;s turn now to the nuts and bolts of creating your  brand.</p>
<p>=&gt; Describe What You Are Branding</p>
<p>List  out your business&#8217;s key features and characteristics, your competitive  advantages and anything else that sets you apart from your competition.</p>
<p>Using  our webhosting example, you&#8217;ll focus primarily on the objectives from  your mission statement namely, reliable, cost-effective webhosting  solutions supported by 24/7 technical support.</p>
<p>=&gt; Identify  and Describe Your Target Market</p>
<p>Decide whether you want to  target lthe entire webhosting community or only a segment of it such as  small business websites. Describe your market.</p>
<p>=&gt; List  Names that Suggest the Key Elements from Your Mission Statement</p>
<p>The  key elements from your mission statement were reliability,  cost-effectiveness and customer service. List names that are suggestive  of these elements. Let&#8217;s use Reliable Webhosting for our example. (I  don&#8217;t claim to be a creative genius.)</p>
<p>Don&#8217;t limit yourself to  real words, though. A coined name with no obvious meaning is a  perfectly legitimate name provided it conveys something about your  business. You will find coined names easier to trademark and secure  domain names for too &#8211; a definite plus!</p>
<p>=&gt; List Tag Lines  that Reinforce Your Mission Statement</p>
<p>We&#8217;ll use: &#8220;Outstanding  reliability and technical support at a price your small business can  afford&#8221;. I know, I know. You can do much better, I&#8217;m sure.</p>
<p>HOW  SHOULD I USE MY BRAND?</p>
<p>=&gt; Create a Logo for Your Brand</p>
<p>Your  logo is NOT your brand but your logo should allow your brand to be  instantly recognized by those familiar with it. To this extent, your  logo helps create and reinforce brand awareness.</p>
<p>The logo you  create should be able to be used consistently in a variety of different  media. It should be suitable for corporate letterhead and business  cards, as well as for your website and corporate signage (if any). You  do NOT want a confusing mishmash of logos and banners and heaven knows  what else. Everything you produce needs to use the same, consistent  style of logo so that, over time, your logo becomes synonymous with your  brand. Instant recognition is what you&#8217;re going for here, so don&#8217;t  dilute it by using several different logos for different purposes.</p>
<p>=&gt;  Consistent Usage of Company Name, Logo and Tag Line</p>
<p>Going  back to our webhosting example, putting the brand name and tagline  together, the physical manifestation of your brand will be:</p>
<p>RELIABLE  WEBHOSTING Outstanding reliability and technical support at a price  your small business can afford.<br />
To establish brand awareness, this  branding needs to be used consistently and frequently in everything your  produce, whether that be letters to clients, business cards, brochures,  quotations, invoices, advertising, promotion, on your website, on the  front door of your principal place of business and on your products. And  don&#8217;t forget to be consistent in your use of color schemes. These can  be powerful brand reinforcers.</p>
<p>=&gt; Marketing and Promotion  of Your Brand</p>
<p>Once you&#8217;ve created your brand, you need to  market and promote it, in addition to your products and services. This  is how you establish your credibility and relevance to your target  market. You can hopefully see why your brand needs to be suggestive of  your mission statement. If, at the same time as you&#8217;re selling your  products and services you also push your brand, your brand becomes  synonymous with your products and services. And vice versa.</p>
<p>A  properly descriptive brand and high brand awareness amongst your target  market will allow you to more easily introduce a wider range of  products and services when they&#8217;re developed without having to start by  again selling who you are, what you do and how you do it first. Your  brand has already presold YOU. Your job then is to sell your products  and services.</p>
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		<title>Different Business Management Styles</title>
		<link>http://www.skallagrimur.org/business-strategy/different-business-management-styles/</link>
		<comments>http://www.skallagrimur.org/business-strategy/different-business-management-styles/#comments</comments>
		<pubDate>Tue, 11 May 2010 16:20:08 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Business Strategy]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Business Management]]></category>

		<guid isPermaLink="false">http://www.skallagrimur.org/?p=376</guid>
		<description><![CDATA[Business management combines an interesting mix of theory and practice,  and it is a particularly good topic for management and entrepreneurial  types to study. Finding a business management style that suits your  personality and the nature of your business is both important and worthy  of time investment, as being self-aware and [...]]]></description>
			<content:encoded><![CDATA[<p>Business management combines an interesting mix of theory and practice,  and it is a particularly good topic for management and entrepreneurial  types to study. Finding a business management style that suits your  personality and the nature of your business is both important and worthy  of time investment, as being self-aware and being able to identify  strengths and weaknesses of various approaches will enable more  effective personal development and ultimately more effective management.</p>
<p>While  many have their own individual business management styles, these are  traditionally broadly categorized into three main classes of business  management approaches.</p>
<p>Autocratic Management</p>
<p>Firstly,  there is what has come to be known as the autocratic approach to  management, which installs more trust in the leadership as opposed to  the individual staff. This involves pulling rank and leaves employees in  no doubt as to whom the management is or what decisions are being made.  Rather than engaging employees within the decision making process, this  business management style typically concerns businesses that require  direct, effective leadership to produce results, often under pressure of  working in a tough environment. Upon hearing the term autocratic, many  tend to visualise a dictatorial approach to management. While that is  perhaps the case, it is seldom as strict as this and it is often a  necessary management style, for example in the armed forces or in a  high-paced trading environment, where there is no margin for  deliberation and group consideration.</p>
<p>Democratic Management</p>
<p>Alternatively,  there is a <a href="http://www.skallagrimur.org/" target="_blank">business management</a> style known as the democratic style,  where employees are effectively engaged in consultation before decisions  are made. While some consider this to be more motivating and more  enjoyable to work under, it does nevertheless have its own  disadvantages. Giving employees a say may undermine the authority of the  management, and may ultimately cause inefficiencies in the decision  making process. It is also time intensive, and perhaps not as effective  in larger organisations with thousands of employees. While of course at a  board room level this kind of decision making goes on everyday, it&#8217;s  one that works most effectively in slower paced business where decisions  can be fully deliberated and considered.</p>
<p>Laissez Fair Management</p>
<p>An  alternative to those two business management styles and the third main  category is what&#8217;s known as the laissez fair management style. This is  by definition a more hands-off approach to management, which puts the  trust of running the business within the hands of employees themselves,  and allows a greater degree of autonomy than would otherwise be the  case. While this is strong in creative industries, some business people  find that this style of management can lead to a fragmented approach to  doing business and is less organised and perhaps less professional.</p>
<p>Whichever  business management style you liken yourself to; there are advantages  and disadvantages of that approach. What&#8217;s important is not that you  recognize which of these categories you fall under, but rather that  you&#8217;re aware of the improvements that can be made to make your  management more effective and efficient while also improving the  relationships you share with employees at all levels of the  organization.</p>
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