1. KEY FACTORS INFLUENCING BUSINESS PERFORMANCE
BSIS-3B TOPIC 1 , 2, & 3 PATULIN, LARAVIE B. TUCONG, RONNA F. MORALDA, CRISTINE EVALUATION OF BUSINESS PERFORMANCE
The ability of management (all levels) to cope with change . B. The nature and effectiveness of the processes used to arrive at major decisions to bring about change . C. The efficiency of the mechanisms utilized to implement management decisions .
D. The internal methods employed to determine and track valid objectives . E. The effectiveness of the way information is communicated within the company. F. The quality of the personnel and attention to recruiting and selecting the proper quality and adding to their abilities with further training.
2. Generators of the Values
Take Initiative: Be proactive, challenge each other, take risks and adapt. Be Passionate: Care about your work and take pride in what you do. Have Fun: Create a positive work space and build strong relationships. Value Teamwork: Approach problems with a "we over me" mentality. Ensure Growth: Learn and evolve personally, professionally, as a team and as a firm.
3. Creating and Delivering Performance Information
SALES Sales management is a business discipline which is focused on the practical application of sales techniques and the management of a firm's sales operations. It is an important business function as net sales through the sale of products and services and resulting profit drive most commercial business.
Enterprise Resource Planning (ERP) is a business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back office functions related to technology, services and human resources.
Customer relationship management (CRM) is the combination of practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle. The goal is to improve customer service relationships and assist in customer retention and drive sales growth.
Principles to remember in delivering and effective performance :
DO’s: - Make it clear at the beginning of the year how you’ll evaluate your employees with individual performance planning sessions. -Give your employees a copy of their appraisal before the meeting so they may have their initial emotional response in private. -Deliver a positive message to your good performers by mainly concentrating on their strengths and achievements during the conversation.
DON’T’s: -Offer general feedback; be specific on behaviors you want your employee to stop, start, and continue. -Talk about compensation during the review; but if you must, divulge the salary information at the start of the conversation. -Sugarcoat the review for your poor performers; use the face-to face as an opportunity to demand improvement.
Ten Tips for Measuring & Improving Performance
1. Define Your Goals. 2. Determine the Metrics to Measure Your Company’s Performance. 3. Develop Methods to Collect and Organize Data. 4. Compare Yourself to the Competition. 5. Conduct Research.
6. Understand Your Strengths and Weaknesses. 7. Focus on Customer Retention. 8. Measure Marketing Effectiveness. 9. Track Employees. 10. Apply the Information.
The 10 Laws of Sales Success :
Law #1: Keep your mouth shut and your ears open. Law #2: Sell with questions, not answers. Law #3: Pretend you're on a first date with your prospect. Law #4: Speak to your prospect just as you speak to your family or friends. Law #5: Pay close attention to what your prospect isn't saying.
Law #6: If you're asked a question, answer it briefly and then move on. Law #7: Only after you've correctly assessed the needs of your prospect do you mention anything about what you're offering. Law #8: Refrain from delivering a three-hour product seminar. Law #9: Ask the prospect if there are any barriers to them taking the next logical step. Law #10: Invite your prospect to take some kind of action.