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Pen Drive Contents :1. Business Development 2. IWM 3. Entrepreneurship 4. Stress Management 5. Transcending your limit 6. Marketing yourself
Value-chain parts in the PROCESS 4. Differentiate your PRODUCT 5. Re-invent your CHANNELS 7.Business Development 1. The main areas 3. Re-define your CUSTOMERS 6. Re-engineering of your ORGANISATION 8. Tap your hidden strength & opportunities outside 2. Move to new related areas SWAMI SOMESWARANADA 1 .
The Main Areas Evaluate other ways to benefit From your existing assets Identify your hidden value Move to new related areas Identity the value chain parts in your production process Differentiate your products Re-define your CUSTOMERS Re-invent your CHANNELS To deliver products or service Re-engineering of your ORGANISATION SWAMI SOMESWARANADA 2 .
offer a portfolio of your product/service at different price points. Solutions : You are not thinking about the extension of your product/service. (2) Don¶t get stuck with limited options. SWAMI SOMESWARANADA 3 . how can I survive as the government is decontrolling the reserved list for SSIs? Solutions : (1) Use your assets optimally and notice the hidden value of your organisation. Problem : With limited technology I can¶t complete with others. Offer new things based on your existing strength. Solutions : Based on customer-preference and customer-ability. 3. This stops me to expand my business. Solutions : Instead of doing everything yourself can you be more focused? Which part of your value chain is strong conducive to new situation? Can you make it more value-adding and profitgenerating? Can you bring a change? Problem : I do not have many customers.Exercise ± 1. 2. 4 Problem : As a small player. Notice other areas where you can flourish. Problem : My present product/service does not sell much now-a-days. With limited resources I can¶t invest in a new business and I have huge sunk costs.
ValueValue-chain parts in the Process Identify the value-chain parts in your valuePRODUCTIONPRODUCTION-PROCESS Assess each part of your ValueValue-chain and decide which One can fetch more value In the changing scenario Can you make it More value-adding and valueProfitProfit-generating? Can you go for Forward or backward Integration ? Can you do it yourself ? Or. need help of other¶s ? How Do you like to Move to the next Adjacent step ? Develop a strong network of value-chain neighbors value- SWAMI SOMESWARANADA 4 .
(2) Otherwise. if it is not possible.. Solutions : (1) See whether by selling your non-core business you can put this extra money to acquire the new step in creating more value. develop a network of your own with others SSIs and make them all business partners on long-term arrangement. I have to remain as an ancillary unit of a large Company.Exercise ± 5 & 6 Problem : Sometimes I feel that if I go for forward or backward integration. I may create extra value in my business. Or. I can¶t invest too much. This will make you feel secured and he will help you in developing system and technology. Solutions : As an ancillary unit you enter into a long-term arrangement with your customer i. But as an SSI. Problem : It is so difficult for an SSI to survive as it hat to fight alone. go for a long-term arrangement with your value-neighbors and guiding them become an important player in that particular value-chain point. and thus I am dependant upon it. SWAMI SOMESWARANADA 5 .e. the large Company.
PRODUCT Differentiate your PRODUCT Develop 3 variants Product Innovation Portfolio of product at different price points Designing strategy Customer to product knowledge to product Offer new & Newer solutions SWAMI SOMESWARANADA 6 .
Solutions : Customers do not want just a product but a total solution to their specific problem. Now can you make one or more steps more convenient or simpler to help her ? SWAMI SOMESWARANADA 7 . others may imitate my product and thus I may face competition.. but not my product. Note the steps 1. Can you offer a package ? Problem : Sometimes I get confused. This is eating up my margin Solutions : Offer¶s variants of your product : (a) low price # accepted quality. Solutions : Customers are interested in a solution that will help them. Study the steps she hat to take in using that gadget. 10 Problem : I am offering the same product at a cheaper rate because of competition. (c) high price # high quality.Exercise ± 7. offer ways to improve customer¶s job. So. So. when customers accept it. Even if I offer something better. Solutions : Compare. Problem : Other¶s products sell. 8. your product and price with others. collect information from them to know what exactly they need. Take the case of a gadget used by housewives. you develop a solution around your product. (b) moderate price # moderate quality. Other¶s make profit but I am unable. 2. customers just refuse. 9. Study ± What stops the customers to make more use of your products ? Problem : Even if I innovate a new product. 3««. Taken by her. I do not understand what to offer.
CUSTOMERS Re-define your CUSTOMERS Customer-mapping (Who needs you ?) New / Unusual Customers Offer a niche with variants of your product. To WHOM ? SWAMI SOMESWARANADA 8 .
Decide how you can move from one customer segment to others. Aim entrants. along with variant of products. Watch the companies in a different segment of the value-chain Problem : If I have a very loyal group of customers ( diversified or any particular Company) Can I sell more to them ? Solutions : Focus on a particular segment of customers. Problem : How can I attract new customers ? Solutions : Approach new and unusual customer. 12. Focus on new influencers and decision-makers. SWAMI SOMESWARANADA 9 . offer a niche. 13 Problem : How can I identify potential customers ? Solutions : Focus on the question : Who needs me? Do Customer-mapping.Exercise ± 11.
SWAMI SOMESWARANADA Maximize distribution channel 10 .CHANNELS Re-define your CHANNELS to deliver product / service Offer multiple channels Can you jump some Intermediate channels ? Find out new intermediate Steps for your new Value-added elements.
book exhibitions etc.) Find out new intermediate steps for your new value-added steps. book clubs. Problem : As a small scale service provider. But at the same time. mail orders. 15. and offer your service there. I can¶t do their job. Channel-option will help you to become more cost-efficient and value-providing. private courier service Companies are doing a good business.) Problem : Sometimes my immediate customers (retailers/courier) fail to deliver. (Through Govt. Postal department has vast network connecting even remote villages. 16 Problem : I find it very difficult to satisfy the retailers/distributors as I can¶t give much commission or margin.Exercise ± 14. Net. Solutions : Devise multi-channel delivery system. SWAMI SOMESWARANADA 11 . Notice the weak link. how can I start a new business ? Solutions : Understand the process or supply chain of a group. Can I avoid channel cost ? Solutions : Can you jump some intermediate step/s ? Customers too like to cut transaction costs. Thus my credibility goes bust. (Books can be sold through shops.
R & D on the shopfloor Making your people BusinessBusiness-oriented SWAMI SOMESWARANADA 12 . Pyramid to network Developing new skills for the organisation.ORGANISATION ReRe-engineering of your ORGANISATION Develop the right structure and System of your Company. Let there be an organic evolution instead of the present imposed one.
make it flat with more and more profit-generating centers. Instead of the present Pyramid structure. Go for the Network structure. SWAMI SOMESWARANADA 13 . This will help them to add more value both in production and sales. Problem : As an SSI.Exercise ± 17. Involve shopfloor people more in value-adding and to come out with new business ideas. through empowerment. How can I survive in this competitive age ? Solutions : Bring R & D on the shopfloor. I cannot afford to bring latest technology or have an R & D department. 18 Problem : How can I make my people more productive ? Solutions : Infuse business spirit in them. Also focus on the local needs. Involve the sales people too.
Business Extension Identify related areas Notice the solutions offered By your product to different Strata of people Focus on a new segment Variants / niche / extension of your product Make your natural skill A special strength SWAMI SOMESWARANADA 14 .
Can you offer your product to solve many problems ? SWAMI SOMESWARANADA 15 . another may use this as a decorative piece.Exercise ± 19 Problem : I have only product. How to go about this? Solutions : Find out how you can extend your product/service to other areas. A small statue of a deity can be used for worship in one¶s homeshrine. the third one may like to keep it on the office table as a paper. I can¶t afford to increase my portfolio.weight. A product means different things (solutions) to different customers.