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Business and Finance:
In the business, what’s commonly known is that to survive in a growing market is as much a tough job as in a market punctuated with nosedive graph in growth chart. This is primarily because a better improved and trouble-free market also means increased competition and thinning margins. To overcome this, Business and Finance experts say entrepreneurs should adopt strategies like cost cutting methods.
To start with these would include immediate steps like trimming overheads, dismissing staff and also compelling the unwanted lot – no doubt how senior and productive – to put in papers by creating situations when the employees find mere survival in the job atmosphere a nightmare.
The cost cutting itself is a big area and encompasses essential features of business operations like
logistic movement, handling post-sales issues. Besides in the recent past, there’s a floodgate of option
in the name and style of outsourcing at even micro levels. This can cover work projects like maintenance,
repairs etc.
Closer home in Indian context, Railways have done it and as a result has able to march on with profit, something which the Government of India-controlled organization could not do for decades.
Of course, the advantages Indian Railways have taken from technology revolution and IT cannot be forgotten either.
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Business managers and academicians would also say that cost optimization is an important area of all operations. But the reality story is often a picture in contrast.
The companies and finance managers, say Chief Financial Officers (CFOs) in organisations forget about cost optimization when the times are good. Observers say, the refrain from business executives whe the company is sailing smooth is that cost optimization can go on back burner.
The business and finance executives are therefore well-advised to take a holistic look at things and chart out programs which can be sustainable for the organizations.
Role of CFOs:
Dwelling on business strategies and operations by the companies, it goes without saying that the role of CFOs o those who run the finances is changing fast and quite significantly.
They are now expected to play a much crucial role on financial reporting and controls. The work load and expectations from CFOs have grown manifold especially in the changing world of economic liberalisation when stakeholders have become more pro-active and are increasing their army by every hour. Stakeholders expect compact companeis to improve performance, enhance revenue, optimize costs, and reduce risk making CFOs job profile more focussed and also demanding.
For instance, companies also have to take note of the fact that generaly there’s expctancy og good slick looking printing machines and computer terminals in offices.
The concept of colorful office set up is catching fast among economics of all hues and even countries like Indian. The first impression is critical as it also does always leave a lasting impression.
The paper cluttered desks and the dusty files have long back made ways to slick PCs and laptops. But the India Inc offices are still undergoing makeover and color is only adding flavor to it.
Recent studies have revealed that businesses of all sizes and even in smaller townships and semi-rural areas, people are appreciating the latent need for color printing, good looking flat PCs etc.
Now, it’s the poor CFOs who will have to really begin to look strategically at what benefits color printing machines and flat PCs could provide, more so in terms of cost control of the entire show – right from tender calling to setting up the machines and finally get one or two people to see that they function well.
Big IT vendors are introducing products that will offer better print speeds, quality and consistency of print, which would enable a number of businesses to print their color documents in-house. All these combine together to signal greater business propositions for printing solutions and imaging and so partners find yet another stepping stone to strike gold literally.
The Indian business class, especially the younger generation is glad of the business opportunities being opened by these steps.
For instance, a company like Brother India, in order to make dealers and partners happy and deal more with the company for a lucrative venture, the company is making avenues such that dealers can make profit up to 12% profit in certain specific segments.
But there is already an element of discontent in the dealers’ network with partners stating that color printing has traditionally been limited only to inkjet devices.
The Bottleneck:
But the technology has a answer to all these and Business and Finance management needs that to take care of effectively. The fast technological movement has opened other areas in printing solutions business. Document Management Contract Services (DMS) is one such area.
Studies show even in small upcoming market like Bhavnagar in Gujarat or Siliguri in West Bengal computers and other IT peripherals imaging products have also seen much demand in recent times in small business and home segments.
According to another global level survey, out of more than 400 companies worldwide, 9 out of 10 cost reduction pprograms fail to achieve their targets. This is a serious issue nefore finance managers.
It’s understood that among the reasons for these short-comings a few striing ones are that the companies need more insight into drives the cost programming.
Another pointer:
In today’s business world, it’s found that from family-owned stores to large hospitals, universities and banks, businesses face myriad challenges. In order to compete in an increasingly global market they have to improve operational efficiency, lower costs and increase revenues. These have to done despite budget and staffing constraints and still keep up with the rapid pace of changes, both in market dynamics and technology sphere.
Business partnering is a critical phase of business growth programs. Depending on the business you have and your project, you may need a partner that specializes in one or more areas, or one that offers a broader range of services. This strategy helps to bring in other niche partners as needed.
Partners and dealers often bring helpful experience and insight to technology deployments and it is by understanding the various things they bring on the table that that new products and solutions can successfully be designed to address diverse and evolving needs of the market force.
Merger and Acquisitions:
There’s again a looming threats of direct sales, retail and failing margins have made it essential for companies to look for survival instinct in terminologies called merger and acquisitions. The need to take a fresh look at the emerging trend of consolidation is one such area that needs gearing up well. Acquisitions and mergers are here to stay. No one can run away from it as consolidation means mutual value addition. And this value addition is must in today’s business world. Here lies the importance of coopetition, where in competitors cooperate among themselves and bring solutions and business offers for mutual growth opportunities.
In IT business for instance, dealers have their own reasons to look at this new culture or at the demise of an old order. Some point to a slowing desktop business and others to the general low ebb of the business. With white box – assembled PCs market shrinking, the assemblers are looking for a way to scale up as selling desktops of is not as viable option as it used to be once upon a time.
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