Business Strategy TBC

Can you think of a business that doesnt want to innovate and grow? The success and/or failure of an organization depend entirely upon the strategy formulation and the ability to execute that strategy. How do you decide upon a strategy?

Dr. Zunaira Munir (Founder and Managing Director of Strategize Blue) is a business strategist who focuses on innovative business growth strategies to help companies break out of competition and achieve profitable growth. With a client list that reads like a Who’s Who in Business, Dr. Munir addresses companies eager to grow and willing to innovate from organizations, large and small. Recent clients include Hewlett Packard, Coca Cola, T-Mobile, Center for Non-Profit Management, Ohio State University Medical Center, Technologico de Monterrey, American Advertising Federation, Banco Colombia, RJ Reynolds and California Chamber of Commerce to name a few.

Dr. Munirs specialized topic is Blue Ocean Strategy, a systematic approach to innovate and achieve profitable growth. It originates from the best selling book Blue Ocean Strategy (authored by Professors Kim and Mauborgne of INSEAD in 2005) that is known to have revolutionized business strategy worldwide.

Blue Ocean Strategy stresses businesses to make their competition irrelevant instead of continuously striving to beat it. As a senior member of the Global Blue Ocean Strategy Network, she works directly with Kim Chan and Renee Mauborgne.

Blue Ocean Strategy suggests that the traditional strategies are not sufficient to achieve or sustain profitable growth in the present day markets marked by cut-throat competition. Instead of striving to do better than the competitors for grabbing a bigger share of the market, it focuses on value innovating for creating uncontested market spaces where competition becomes irrelevant. It is about creating new wealth in the market instead of fighting over and distributing existing wealth in the market.

Additionally, whereas all other traditional approaches consider innovation to be a trial-and-error process that depends on an entrepreneurs creativity and risk-taking, Blue Ocean Strategy comes with a complete set of tools, frameworks and methodologies that make the innovation process systematic and replicable that anybody can learn and apply to achieve profitable growth. Challenging the traditional assumption that opportunities and risks always come together, Dr. Munir focuses on minimizing risks while maximizing opportunities to achieve business success.

The system is quite generalizable and scalable and has been applied for formulating national strategies; for achieving corporate success; for generating growth in small businesses as well as for an individuals success in career.

With a PhD in Innovation Management from Wuhan University of Technology in China and dynamic training and presenting experience in Asia, Europe, South America, as well as the U.S Dr. Munir continue to help companies develop concrete ideas and practical steps to create new market space

Brendan Murphy is the Marketing Manager for Strategize Blue http://www.strategizeblue.com, a Blue Ocean Strategy Training and Consulting company based in San Diego. He works under Dr. Zunaira Munir, the internationally exclaimed expert and keynote speaker on Blue Ocean Strategy.

What is a universal success recipe in business? Even the most well known business gurus will not give you a definite answer. The problem is that every business is individual and thus requires individual approach. It should be noted that the situation is aggravated by a tough competition. If 30 years ago commercial businesses only had to offer high quality products at competitive prices, now the situation has entirely changed. These days, companies have to win loyalty of their customers. It especially concerns hotels. When vacation season begins hotel start a real fight for customers. Indeed, visitors have a very wide choice of hotels in different price ranges. As already said, hotels compete for customer loyalty. You know that in most cases those hotels win that have well thought and realistic strategy. One of the most common mistakes in strategic planning is that strategy unfortunately remains on paper. There is no problem in designing the most ambitious strategic plan but if they remain on the to
p management level there is no use in such a strategy. Thats why hotel owners and top managers are strongly recommended to use Balanced Scorecard which is known as one of the tools used for strategic management and performance evaluation purposes. Every strategy in a hotel is definitely customer focused. Sure thing, financial goals matter most of all, but the truth is that they simply cannot be achieved without retention and attraction of new customers. This is the only way a hotel can generate income.

As known, Balanced Scorecard employs very simple principle: it evaluates key performance indicators (KPIs) that represent critical success factors both in internal and external business environment. The four categories of Balanced Scorecard financial, customer, internal business processes, learning and growth cover the most important aspects of inside and outside the hotel. With a Balanced Scorecard it is possible to adjust internal processes in accordance to new market conditions and requirements. It is remarkable that the set of key performance indicators can be changed during evaluation process, as required by external changes. Lets review several key performance indicators used in hotel Balanced Scorecard.

Number of hotel guests per employee. This is a very important indicator that makes it possible to efficiently manage number of hotel employees and optimize personnel quantity. This indicator can also demonstrate group performance of employees. Naturally, the more hotel guests an employee can manage the better.

Net room revenue. This is a very important financial indicator that makes it possible to calculate total revenue for the entire hotel as well as offer valuable information on how to increase revenue without sufficient hike in hotel rates.

Percentage of international guests. This indicator can tell much of hotel quality and services. The more international get choose to visit a hotel that hire its reputation and the international and local community. If there are not many international guests in a hotel, perhaps new services and offers have to be introduced in order to attract such customers that are expected to spend much money.

I just finished the videos series on Goal Setting by Bill Bartmann (Billionair Entrepreneur). I have just two words INSPIRATIONAL and AMAZING!!! Mr. Bartmann presented a straightforward 10-Step Process to Set Goals that I wanted to share with you. Goals are essential for any area in your life, whether you have personal goals, health goals, economic goals, career goals, company goals, and more. If you have not yet identified your targets or goals, you need to do so. If you dont, how do you know what you are trying to achieve AND more importantly, how do you measure your results???

So, here it is COPY THIS and more importantly, USE IT!

Step #1 Be sure it is YOUR own goal.
This is the most important phase. What is it that YOU want to achieve? This is about YOU!!

Step #2 Do not call it a goal; call it a PROMISE.
When you have set goals in the past, have you achieved them? Let’s not get caught up in the word “goal”… time for a change!. Think about this how often do you keep your PROMISES? According to a study by Harvard, people keep their PROMISES 98% of the time!!! (versus attaining goals goals are not achieve 70% of the time!!!).

Step #3 Clearly name your PROMISE.
What are you specifically trying to accomplish and achieve? How triumphant do you want to be? How can this be measured? BE SPECIFIC. For example, I will be making $20,000 a week by December 31, 2010.. This is precise and calculable.

Step #4 Use the tools around you.
There are both positive and negative motivators around you. Use them!

Positive motivators are the people that you love and care for. Attain your PROMISE for them (and you)!

Negative motivators are those telling you that you CANT succeed in your business or you are crazy for trying to do so. Mr. Bartmann suggests writing the names of these people down on a 3×5 card and keep these cards in front of you, at your desk, in your purse, etc. This can be a daily motivational tool for your success.

Step #5 Develop a PROMISE PLAN.
By creating a BLUEPRINT, you will be well on your way to success. This is your business strategy and there are 6 critical pieces that will create this plan:
– WHAT are you going to do?
– WHEN will you achieve this?
– WHERE would you be when this is achieved? On a magazine cover??
– WHY do you want to do this? Is this for YOU? Or is this to show someone you can do it??
– WHO do you need in your life? Who will help?
– HOW can I execute the plan?

The HOW question is the most important but is the most difficult, as well. You cant know HOW right now. Things are going to change and the HOW may change. Keep a focus on WHAT and WHY and the HOW will evolve.

Step #6 Evaluate your PLAN and your PROMISE daily.
Bill Bartmann states to assess your PLAN and PROMISE 20 minutes per day. 20 minutes daily????? (are you serious) Honestly think about this.. Instead of watching TV for 20 minutes, review your PLAN and PROMISE. By evaluating your PLAN and your PROMISE repeatedly and consistently, you will realize how significant this is AND this will help to create original and creative ideas.

Step #7 Tell yourself you will succeed.
Your success is a derivative of your belief. Start listening to yourself; this is the only voice you should be listening to. Stop sending negative affirmations.

Step #8 Communicate your PROMISE to everyone.
There is nothing like being held liable Announce your PROMISE and let the positive and negative motivators to move you to accomplish your PROMISE. Make your PROMISE known. How is this for motivation?

Step #9 Imagine your outcome.
You have to see your success. You have to imagine your success. Quite often, we think of Bill Bartmann shared a story about Michael Jordan visualizing a free throw before he even shot the ball. To prove his point during a game, Michael Jordan shot a free throw with his eyes closed! He envisioned making the basket before it was even shot.

Step #10 START!!!
Guess what? This is the MOST IMPORTANT STEP! If you never start, you will never succeed and why even complete the previous 9 steps? You will make mistakes thats okay. Understand your mistakes and move on!

Here is to all your success!

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Web marketing is gearing up very fast and has emerged as a winner. Most of the businesses are online now, which has definitely made web marketing a very popular and successful marketing tool. Though online marketing has variety of techniques which work collectively and bring these winning results but there is one technique which has recently made a big impact on the online marketing strategy, Webinar services. This increasing demand has led to development of numerous webinar service providers. Every business owner knows that for making a strong hold of your business you need to conduct regular meetings. Same applies to the online business for which the concept of online webinars came into being.
Webinars are basically a platform made for conducting meetings online. There is number of webinar service providers across the globe but what will make a winning solution provider entirely depends on owners selection. If you want good results you definitely need to pay more. So, all your business owners choose somebody who is smart and unique in their business strategies. Different thinking can make you a winner. Join hands with the webinar providers which have the capacity to offer lead generation webinar solutions. If your webinar can generate qualified leads then only your business can grow.
There is no reason your lead generation webinars shouldn’t produce high quality leads for your business, just need to be little thoughtful in choosing your service provider and planning your webinar strategy. For example, do some survey of your prospects after registering your webinar. This will help your company in directly dealing with the interested people and address their queries and concerns. Secondly, while making the webinar concept, choose a title that speaks directly to prospects’ goals. If you follow these simple tips and spend some quality time in webinar strategy making, you can definitely have a win-win situation.
For making a lead generation webinar make sure you choose the experts who can strategies a power pact and winning webinar for you. Choose the webinar service providers who practice the latest techniques and the most modern technology equipment.