Business requrements

Business requirements

Inventory tracking is one of the key concepts of any business as it 's very important to have a clear idea about financial situation of the running business as well as about all stocks that business shares Inventory tracking includes all the transactions and operations with stocks , sales , exchanges , etc . The basic problem of any developing business is the organization of the inventory tracking and stocktaking in to have an instant access to all items and resources that are involved in activity of the enterprise . Now this process is facilitated

br by the variety of computer software that is used for inventory tracking and makes all the calculations and accounting itself or with a minimal participation of the human

Accounting is a function of both private and public economic sectors that gives an opportunity to business owners , managers and other business related specialists to make a review of specific transactions with finance . It 's a process that involves record , classification interpretation and summarization of different sort of financial related data and events in the form of financial journals , spreadsheets and financial forms and statements . The fulfillment of accounting procedures is made according to the existing accounting standards and principles as well as according to financial legislature that regulates economical relations . To control the fulfillment of accounting according to existing principles and standards there exist special methods for authorization of transactions , safeguarding of assets , and ensuring financial records accuracy . The main purpose of the accounting is to estimate and analyze the financial situation with business it 's profit etc . The most simple way to do it is to use accounting equation : assets liabilities owners ' equity

Marketing communication is a business related field of communication that includes elements of financial management , business administration economic and business planning and development of marketing strategies mainly specializing in the field of advertising , public relations sales , direct marketing and promotion of goods

The success of marketing communication lies in the understanding of the core psychology of the consumer , in correct and appropriate use of communication and creative skills for promotion

The essential professional traits for professionals that specialize in marketing communication are

Ability to plan , to apply and invent creative ideas , plans and strategies along with innovations

Research skills that can be applied to analyze and improve marketing communication

A good background in public relations , psychology , commercial and communication ethics

And desire for further learning and professional development

aSales-projection takes on of the main part in the planning process of further activity of the enterprise or business . The main goal of sales projection is developing of the future strategy that will improve business performance and will correct different issues that do not satisfy the business owner . Sales projection is done by making an analysis of the contribution that each salesperson does for the business

In to make a fruitful and effective sales projection it 's important to consult salesmen about goals they plan to achieve for the next year . It 's important to take into consideration the expectations and recommendations of salesmen about market , price policy and business management

Another important aspect is to make an analysis of major market factors that include demand , prices , propositions , existing alternatives of goods , etc . Besides analysis another important section in sales projection is budget planning (it includes expenses on traveling , cars telephone , rent , public utilities , etc

Besides making a plan for expenses and making a plan of budget it 's important to develop a scenario for the behavior of prices on selling goods . Many specialists suggest to develop two kinds of sales scenario one that looks more realistic and one that can the worst in the particular situation being as specific as possible . After those two are complete it 's important to figure out one that will be the average of two of them

Projection of sales is an important part of the plan . Part of the sales projection work is planning for a better performance in the future and correcting past performance with which you are not satisfied . You do this by finding out what profit contribution each sales representative makes . One goal of measuring a sales representative 's performance is improvement assistance . This is done in the marketing personnel section of the marketing plan

Talk to your sales managers and get their agreement about goals to attain for the next year . You can agree on currency , in numbers and a number of other variable parameters . You should include these expectations for each major product line , for each major market (industry , geography , demography , etc ) or even for each major account

Reach an agreement on the expenses as well . This is handled in the marketing budget section . Think of travel , cars , customer entertainment (lunches , dinners , telephone and other expenses

Besides making a plan for expenses and making a plan of budget it 's important to develop a scenario for the behavior of prices on selling goods . Many specialists suggest to develop two kinds of sales scenario one that looks more realistic and one that can the worst in the particular situation being as specific as possible . After those two are complete it 's important to figure out one that will be the average of that two of them

Salesperson production is one of the most important factors in the business development and it 's effective work . Salesperson production depends on many factors , most of them are still personal character traits that involve skills to interest consumer , communicative abilities and abilities to advertise goods as well as many others . To determine the salesperson production is very important in to know the real reasons of success and failure of the sales business . By determining the production level of the salesperson the business owner will know if the particular salesperson brings profit or not . There is a common used simple method to determine salesperson production Let 's take a company with 10 seasoned salespeople . They have equal territories , and annual sales ranging from 1 ,000 ,000 to about 250 ,000 .Step 1 . Rank- salespeople based on their personal production (from highest to lowest . Here is our fictional sales team

Bob 1 ,000 ,000

Carol 900 ,000

Ted 800 ,000

Alice 700 ,000

Fred 600 ,000

Ethel 500 ,000

Ricky 400 ,000

Lucy 300 ,000

George 200 ,000

Martha 100 ,000

Step 2 . Add production from all salespeople and divide by three . This yields three cut-points that allow us to divide our salespeople into meaningful production levels , or "tiers

per sales tier

Step 3 . Start at the top of the list of salespeople and assign each salesperson to a production level

Bob Carol 1 ,900 ,000 (top tier

Ted Alice Fred 2 ,100 ,000 (mid-tier

Ethel Ricky Lucy George Martha 1 ,500 ,000 (bottom tier

Step 4 . Divide production (within each tier ) by the number of people in that level . This yields the average production per salesperson by tier

Bob Carol 1 ,900 ,000 / 2 950 ,000 average top-tier production

Ted Alice Fred 2 ,100 ,000 / 3 700 ,000 average mid-tier production

Ethel Ricky Lucy George Martha 1 ,500 ,000 / 5 300 ,000 average bottom-tier production

Step 5 . Calculate the average production difference between a mid-tier salesperson and a bottom-tier salesperson . Using a mid-tier sales "target " provides a conservative estimate of lost production

700 ,000 average mid-tier - 300 ,000 average bottom-tier 400 ,000 average production lost per bottom-tier salesperson

Step 6 . Multiply this figure by the number of salespeople in the bottom tier . This represents the salespeople

400 ,000 x 5 2 ,000 ,000 /year

Step 7 . Find a bucket and get sick (Be careful not to get any on the floor (from Calculating the Cost of Hiring Poor Salespeople by Wendell Williams

Manufacturing production is the essential process of the manufacturing company . The whole process of production requires a careful planning of all the working processes schedule that includes in details all required equipment , materials , resources (both material and human

as well as other labor related factors

The organization of the manufacturing production requires a deep knowledge in the specific professional area , knowledge or strong background in all the manufacturing processes , production management skills , skills of work in project management , etc . besides organization of the production process it 's important as well to manage the manufacturing process that includes not only solving production problems , but also people management , development of market and search for supplies as well as other issues

Service tracking is of the means that highly increase the effectively of businesses management , by organization of the working and service processes in the easy and comfortable for usage way

Service tracking methods make the customer 's support more easy to use more convenient and comfortable and allow getting an instant access to the information or service needed . The existence of effective service tracking increases the productivity and level of the company 's work . At the same time it needs a careful and detailed organization by specialists in human management and database management as well

References

Wendell Williams ,Calculating the Cost of Hiring Poor Salespeople http /www .wtnzfox43 .com /global /story .asp ?s 419026 ClientType Printable

Business Term definitions (A-C ) Online Glossary http www .gbci .net /business_definitionsA-C .shtml

Business Term definitions (D-M ) Online Glossary http www .gbci .net /business_definitionsD-M .shtml

Business Term definitions (M-Z ) Online Glossary http www .gbci .net /business_definitionsM-Z .shtml

Marketing communication Basic facts http /www .emerson .edu /marketing_communication /index .cfm

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