Changing Business Trends

Today’s BusinessToday’s Business

RealitiesRealities

& &

TrendsTrends

TODAY’S BUSINESS SCENARIO

• Extremely stiff competition• Increasing awareness exposure abundance of

information• Lot of choices & options• Cost consciousness – ask value for money • Demanding customer• Changing loyalties & preferences with the changing

circumstances.

Before we talk further, lets analyze the External Environment

Business realities are rapidly and continuously changing

Business environment is changingcustomers are changing (More informed)Demands and expectations are changingBrand perceptions and brand images are changing

Products are changingCompetition is changingSocio-Economic conditions are changingDecision making parameters are changing…..

How are we reacting ……

Sleeping ObservingWaitingPreparing Reacting ORAdapting

To Change

Or

At least

Analyse and check

THIS SIMPLY ESTABLISHES THE FACT THAT THERE IS A DESPERATE AND

URGENT NEED

It is a human nature (Universal)

Change Resistance

You try to break inertia So

There is an equal & opposite reaction.Over the period we adjust and set ourselvesto a fixed pattern and style of working.

Norms and practices are established andbeing followedfor days, for week, for months & for years

OPTIONS AVAILABLE TO US

Continue the way we are doing (And hope for desirable results)

Close our eyes and ears Wait and See

Deceptive Lethargic Ignorant

Complacent Optimistic

1. Ignorance2. Information3. Knowledge4. Arrogant5. Indifferent6. Rejection7. Realization8. Acceptance9. Willingness10.Conviction11. Commitment12. Actions13. Results

Revival

SUCCESS OF TODAY SHOULD NOT BE CONSIDERED AS

A GUARNTEE FOR SUCCESS OF TOMORROW !

YOU HAVE TO FETCH IT

AGAIN & AGAIN & AGAIN ………….

CUSTOMERS REQUIREMENTS

• Needs• Desires• Expectations• Latent desires • Un-defined, un-told attributes

PRODUCT EVOLUTION

• Functional Requirement• Safety & Security• Added Features• Appearance• Convenience & Comfort• Psychological Obsolescence • Cosmetics

CUSTOMER SATISFACTION HIERARCHY

CompulsionFree AcceptanceSatisfactionPleasureHappyDelightedPartnership

……

LESS & MORE

SYNDROME

• COST• MACHINES• EXPENSES• MANPOWER• REJECTION• RESOURCES• OVERTIME

• SALE• PROFIT• GROWTH• MARKETSHARE• PANETRATION• RETURNS• CUSTOMERS

LESSLESS

MOREMORE

PRODUCT PRICE

SERVICE QUALITY

MarketingExcellence

PurchasingExcellence

ManufacturingExcellence

Business Excellence

WHAT ARE THE OPTIONS !

MANMACHINEMATERIALTECHNOLOGYPROCESS & SYSTEM

IMPROVEMENT IN ALL THESE AREAS REQUIRES FINANCIAL COMMITMENTS

CAN YOU COMPARE

• SINGAPORE AIRLINE VS PIA• LG VS PHILIPS• HONDA VS HYUNDAI• TCS VS PAKISTAN POST• LUX VS CAPRI• TAPAL VS LIPTON• PEPSIVS PAKOLA• AKUHVS LNH• AMI VS PRESTON• FM VS AM