Posted by Managementguru in Business Management, How to Blog, SEO, Social Media
on Aug 1st, 2017 | 0 comments
How To Evaluate SEO Performance Most e-commerce managers are obsessed with rankings. They are always searching on Google for something to indicate that their rankings are getting better. When they notice changes in the search engine results, they assume that their search engine optimization (SEO) program’s performance is flawless. Unfortunately, this is not always true. Frank Abagnale, the Customer Success Manager of Semalt Digital Services, explains the real factors that influence your website’s ranking and performance. Competition: What else is ranking? Nowadays competition has outgrown the conventional organic search tactics used by competitors. Every e-commerce company owner wants the site to outrank their business rivals in order to improve visibility, get clicks and make a sale. However, most search queries set off elements in the search results that draw away attention from conventional organic results and push listings down the page. Personalization: Who is ranking? Today, rankings are highly customized to an extent that there are no longer impersonalized rankings for most searches. Basically, the rankings a consumer sees on his iPhone will be different from the rankings you see on your tablet or computer. As a result, no one can ever say with certainty “We rank first in Google!” Normally, rankings are customized based on: Location. This is the most common factor that influences personalization of rankings. When search engines determine the location of the user using a cell signal or device’s IP address, they deliver customized search results. Device usage. Rankings that appear on smartphones are not the same as those appearing on a desktop or tablet. Mobile devices usually get links into apps. As a result, sites with mobile-friendly experiences will rank higher. If a consumer is searching for something on the iPhone, the results will be very different from what appears on your desktop results. Search history. Every time you log into the search engine’s account, the search engine gets access to all your search history. A perfect example is when you log into your Gmail account on your computer, the search engine logs into your Google account and Google search. This information is used to customize the search results appearing on your device. Social behavior. Using platforms such as Twitter and Google+, Google gets full access to your social behavior. This explains why some content from brands or friends is displayed in your search results, but is not displayed when other people initiate search queries. Demographics. Search engines place every user into a demographic group using their past behavior to deliver highly targeted ads. Based on the factors stipulated above, you now understand how search engine results are customized. These factors give a preview of why ranking report tools are likely to return impersonalized data for a consumer even when your ranking tools indicate that you are ranking first for your most valuable keyword. A prospect may not see the same results from their end which means that they not likely to buy from you. This means that if a rank reporting tool cannot give accurate data to help your business generate income, then it is not a reliable tool to indicate performance. Representation: What keywords to choose? Tracking rankings means you choose a set of phrases and keywords that you would like to rank for and plot the performance of your site in ranking for those words. The phrases you choose have the potential to change the appearance of your performance. Most of the time, companies find it easy to use phrases and keywords they are already ranking for including their brand or words with low competition. This usually makes it appear as if their SEO performance is flawless even when it is not. On...
Posted by Managementguru in Business Management, Entrepreneurship, Financial Management, Project Management, Startups
on Jul 19th, 2014 | 0 comments
What is a Startup Cost? Non-recurring costs associated with setting up a business, such as accountant’s fees, legal fees, registration charges, as well as advertising, promotional activities, and employee training. Also called startup expenses, preliminary expenses, or pre-opening expenses. Let me clarify that this discussion pertains to small and medium size enterprise startup costs and not about capital budgeting. Any project that an entrepreneur wishes to undertake has four factors to be considered. Men Material Machine Money Finance is the lifeblood of any business and to be successful, one must, inject sufficient capital into it. Many businesses fail because of under-capitalization. Seed Money Requirements To determine how much seed money you need to start, you must estimate the costs of doing business at least for the first year. Expenses may be categorized as ‘one-time costs’ such as the fee for incorporating your business or the price of a sign for your building. Some will be ‘ongoing costs’, such as the cost of utilities, inventory, insurance, etc. There is a pressing need for you to bring enough working capital to run the day-to-day business affairs. Without a projected fund flow statement and proposal, no bank or financial institution shall offer you long term loans to run the business. First of all, you need to write the business plan and ask yourself the following questions. Ask yourself these 20 questions to make sure you’re thinking about the right key business decisions: Why am I starting a business? What kind of business do I want? Who is my ideal customer? What products or services will my business provide? Am I prepared to spend the time and money needed to get my business started? What differentiates my business idea and the products or services I will provide from others in the market? Where will my business be located? How many employees will I need? What types of suppliers do I need? How much money do I need to get started? Will I need to get a loan? How soon will it take before my products or services are available? How long do I have until I start making a profit? Who is my competition? How will I price my product compared to my competition? How will I set up the legal structure of my business? What taxes do I need to pay? What kind of insurance do I need? How will I manage my business? How will I advertise my business? Courtesy – http://www.sba.gov/ See ‘Short Term Financing’ to know more about financing your business. The term finance sanctioned in the form of ‘Term Loan’ is required for Land and site development Building and civil works Plant and Machinery Installation expenses and Miscellaneous fixed assets which comprise vehicles, furniture and fixtures, office equipment, workshop and laboratory equipment, distribution of power and water supply etc. Expenditure on infrastructure facilities like water supply, power connection, roads, transportation etc., has to be particularly considered if the units are located in economically backward areas. Startup...
Posted by Managementguru in Business Management, Decision Making, Marketing, Organisational behaviour, Principles of Management, Strategy
on Mar 23rd, 2014 | 0 comments
Smart Objectives for Success An objective describes something which has to be accomplished and defines what organizations, functions, departments, teams and individuals are expected to achieve. Objectives may be operational or developmental. When the contribution is oriented towards the accomplishment of corporate objectives, in the light of the organization’s mission, core values and strategic plans, it is termed as operational; personal or learning objectives that involve the improvement of knowledge, skills and performance of individuals is termed as developmental. Objectives must be SMART: S-scientific M-motivating A-achievable R-realistic T-time bound Objectives that are mostly confined to the near future may be termed-short term objectives, which are accomplished in the stipulated time duration. Say, for example, 1000 units of pet bottles have to be produced in a week’s time. If the firm is focused on the overall production plan for the forthcoming year, then it is termed as long term objective. In a production environment, a firm has to initially go for an aggregate plan, where the production capacity of the plant is determined to make the project feasible. The firm has to make doubly sure, whether it is resourceful in terms of physical, financial and human aspects. The work centers are allotted with jobs in a mock trial to check man versus machine co-ordination and compatibility. Pic Courtesy: Digital Information World Proper Planning: Objectives are achieved only when there is proper planning. The top management must take the pains to clearly explain the objectives to all the employees across different levels of organization to facilitate smooth functioning. When the employees understand what is expected of them, the performance gets oriented towards accomplishing the objectives; the employees get proper direction and focus. Delivering Happiness: A Path to Profits, Passion, and Purpose Think of this, what will happen to the sales volume, if the marketing manager does not properly educate his team about the targets to be achieved for that quarter? Definitely there will be a dip in the sales owing to the lethargic and irresponsible attitude of the manager. Ultimately, the organization stands to suffer a loss in terms of time and cost of recruiting a new person to head the marketing department. Right Person for the Right Job: Organizations have to be meticulous while choosing people for the post of managers. The chosen persons must be able to identify themselves with the organization and its objectives, so that they could be a source of inspiration for people down the line. Right people for the right job, at the right place and right time is the success mantra. Objectives have to be periodically revised in the light of changing economic, political and technological developments. How to Stop Worrying and Start Living If not the objectives might become obsolete and in due course you will get stranded amidst the roaring competition. The process of business management aims at managing people and other resources to make a modest profit. How to achieve success in an open market? By clearly setting objectives that serve as tools of motivation and persuasion, a firm can evolve and contribute strategic inputs that make the objectives realistic and...
Posted by Managementguru in Business Management, Marketing, Organisational behaviour, Principles of Management, Strategy
on Mar 22nd, 2014 | 0 comments
PORTER’S FIVE FORCES Porter’s five forces analysis-draws upon industrial organization (IO) economics to derive five forces that determine the competitive intensity and therefore attractiveness of a market. Survival of the Fittest: True to Darwin’s theory “Survival of the fittest”, only competitive firms survive in the business market, provided, they have made the right strategic choice by comprehensively analyzing their position in the industry. Every organization is part of the industry and almost all of them face competition. Thus, industry and competition are the vital considerations for making a strategic choice. All the firms in a particular industry vie for the same set of customers by offering identical or similar products with minor variations. The analysis of the external environment in relation to the context of industry attractiveness thus becomes essential. A Critical Evaluation of Michael Porter’s Five Forces Framework Industrial Analysis: Industry analysis helps a firm to also fix long range plans, by gauging long term growth opportunities present if any. Strategic choice is nothing but, to screen all possible strategic alternatives followed by narrowing down the choice to the best suited and feasible alternatives and ultimately choosing an optimum strategy. To explain it in more clear terms, let us look at this example. Say, if there are three big players of car manufacturers in an automobile industry. Each follows their own strategic style to capture the market. What are the threat factors? Threat can be in the form of four-wheeler manufacturers like trucks and jeeps, but these cannot be competitively priced. Threat can be in the form of suppliers who dominate the industry by having a grip on the supply of components, sub-assemblies and accessories. Threat in the form of new entrants, but the growth might be restricted due to government regulations. A thorough analysis of the automobile industry thus made can make things clear to the firm, as to where they stand in terms of market share, what are their strengths and weaknesses, who pose a threat, what are the potential opportunities for growth and to tap market segments whose needs are unidentified. Still, it will be a seller’s market where the buyers have no bargaining power. On the other hand, if the weather does not favor its growth, the firm has to immediately decide on its next course of action, calling for diversification. The possible threats for a firm can come from five directions as mentioned below: Potential threat from new firms entering the market Threat from substitutes available in the market Threat from competitors Bargaining power of the suppliers Bargaining power of the buyers The structure and dynamics of an industry has to be analyzed in order to determine the intensity of competition and profitability. As the market is very dynamic, it becomes mandatory for firms to evolve strategies embracing a modern approach, with emphasis on reappraisal of existing strategy in the light of changing external conditions and formulation of alternative...
Posted by Managementguru in Business Management, Human Resource, Organisational behaviour, Principles of Management
on Mar 20th, 2014 | 0 comments
Changing Trends and Challenges in HRM The very conception of Human resource management has changed tremendously in the recent past as it has taken a new form and shape that embraces each and every activity of the organization, as every action requires human intervention. Human resource has become the most important of all the resources from the point, where it was merely one of the many resources. What has caused this great transformation? What has made firms recognise that manpower is the most important of all resources to the extent of including human resource in their accounting as assets! Evolution of HRM: A thorough analysis of the evolution of human resource management clearly indicates the exceptional quality of manpower, especially managers to tackle the very many challenges that come on their way. A manager who was merely a reporter to the top level management has now become indispensable. The laborers whether skilled or unskilled cannot be treated the way they were treated earlier, as the introduction of many labor laws support their cause. The legal framework guides the organization in terms of pay scale, bonus and increments and supports the workers in their welfare, security and safety. Globalization, Privatization and Liberalization: With the initiation of globalization, privatization and liberalization the firms are exposed to more competition and the managers have to put their think tanks to the best use in order to sustain and succeed in the market. People from various background work together in a multinational firm; their language, dress code, food habits, style of working and adaptability are quite different from one another. A human resource manager must go for a “culture” that is unique to the organization. He has to be proactive in order to safeguard the employees from a “culture shock”, by training them sufficiently before induction. Human behavior: Management of human resources by itself is complex and it needs people with special skills. The unpredictable nature of human behavior makes the job more difficult. In the task of managing the emotions and behavior of his employees, a manager must not lose his composure at any point of time for which he has to be a balanced personality. How many of us are gifted with a balanced state of mind and especially in a crisis situation many of us scream our lungs out and blame others for our own faults. Employee Motivation: Motivating the employees to do the job and steer them in the right direction is a Himalayan task for most of the managers. For this they have to adopt a participative style of leadership that will make the employee come closer to them in terms of trust and openness and also it enhances the productivity by improving the efficiency. A relaxed mind is more efficient than one with tight cords. It thinks and acts freely and gives its best. Now a days employees are more educated and informative, so you cannot take them for granted. They are aware of their rights and privileges regarding their jobs and work environment and managers need to handle them very cautiously and intelligently when it comes to satisfying their needs, sentiments and attitude. Handling a large number of employees, allotment of employees to shifts, managing the turnover and keeping the morale high are some of the challenges that the management has to face up to. Achieving the Desired Results: The biggest challenge of any modern manager would be to show results by managing his team. Achieving targets in the specified time is a herculean task; also making people working for the firm realize and understand that unless and until their products and services are of international standards and customer satisfying,...