TOPICS: When you have to compete
There is constant and growing rivalry between companies that specialise in sportswear, cosmetics or software. This is because megabucks have been invested tocreate infrastructures, outlets and train manpower.
Carving out a niche in the market is not an easy thing to do as those
involved in the running of a company will testify. And approval of a product does not guarantee that it will find acceptance by the group targeted,
and endorsing it may be effective
only for a short term in spite of the effort expended. But no one can afford to lose out in the long run and a profit margin is necessary to check and counter losses
For a company to succeed, a marketing strategy is a must. Not only
to find out where their best interests lie but also in wooing paying clientele. And to make it work extra activities are sidelined or put on hold while focusing on ideas and adverts that sell.
A company can last if it puts together a team to promote its product. When all else fails to produce a result they will most probably come up with fresh, original and new innovations. A lot of work is required to bridge the gap between the concept and its design and usually takes place in closely guarded secrecy.
Then there is also the competitive bid to win a contract. This takes
place on a local scale with far flung networks having a direct influence. This bears on the assets to be mobilized and cutting down on the
losses incurred. And to survive a company has to allow for a range of safety measures and fall back plans.
Failure to come up with timely schemes will lead to a filing of bankruptcy. Thus, returns are important to buffet the organisational and managerial capabilities. Planning for an exigency is a way out to make sure that there is no negative fallout
Streamlining the operations and bringing in experts on a contract means a face-saving gesture. While weighing the pros and cons before delving into a pet scheme is the only viable option.
Even though there is a chance that it will not work as per planned in its initial stages. So allowances must be made to employ a strategy to check irregularities, mismanagement and revenue leakage.