Showing posts with label purpose. Show all posts
Showing posts with label purpose. Show all posts

Tuesday, July 23, 2019

Contrary to popular beliefs, the purpose of a business is to create and keep customers

Ateneo Professor on Entrepreneurship

Rizal Philippines
July 23, 2019

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Contrary  to popular beliefs that a business is out there to make profit\ for the stake holders, the real primary purpose, according to Peter Drucker is to create customers.   Everything about the business -  production, finance, logistics, etc should be customer centric... How to make the product responsive to the customer wants and needs, finance to provide easy and convenient financial package for the customer to acquire the products, SCM how to make the products reach the customer fast and in undamaged condition, office to service the account well, and office staff to provide unique customer experience.

Start to worry:

1. When you do not have prospects;
2. When the number of staff exceeds the number of sales;
3.  There are many customer complaints...

Muster the energy and the team spirit of everyone for superior customer experience..  Be sure  you are tops in that area...

Profit is the score, is the reward for giving superior customer service.  If you think about this, your success in business is assured.

Many companies in seeking tops strategic move, think of complex matters.  Tops should be the company, the product  the customer and competive situaition.  Is your product serving the customer well, are you selling superior product (better than competitors)  Are you making it easy for the  customers to buy from you at affordable cost


A well known FMCG company taking advantage of the RORO overhauled its logistics business.  Aside from outsourcing, it reduced its distribution centers to only 3: one in Luzon, one for Visayas and one for Mindanao.  The cutting of DC removed delays in transshipping goods from so many DC.  From the factory and DC, the following day, the products can be shipped in 24 hours to any point from Luzon to Visayas, and Luzon to Luzon and Mindanao to Mindanao, assuring freshness of the produce (shelf life).  and reducing losses from expired (Back Order)  products.

Everything starts and ends with the customer


Tuesday, July 16, 2013

What drives you? How do you keep motivated?

Ateneo Professor on Entrepreneurship

Reposted from Inc by Jeoffrey James | July 15, 2013

How do you keep yourself on fire?  How do you keep motivated as the manager of a group, or as leader.  You get tired and frustrated.  There will  be  lot of restraining forces that will prevent you form achieving your goals?  What do you do?  Increase the driving force reduce the restraining force.?

The concern here is the fuel and the fire that drive you.  What drives you?

As you wake up in the morning, and that was my concern, how do I determine what I and my people should do?  Who would wake me up in morning to push me to work?  Who will nudge me?

How do you keep going?

1.  Act with a purpose  - It could be a low purpose (to provide food and shelter for family) or beyond you -  to provide jobs to many.  It could be love of country, love of God or the poor as the higher purpose.

    I remember when I was in final interview with VP for promotions in pharma (I was applying for drug rep) the interviewer was not happy that I only replied to the question, why do you want to work here

"I want to have a job  -  After you are hired you will get lazy"

"I want to be supervisor  - in three years you will become one; and lose interest and energy to work harder."

"I want to be a manager -  same;  when you are a manager, you will lose steam"

I answered in a way that will probably get him mad or answer his question - " Sir, I want to take your place".   End of questioning

2.  Be accountable for the results.  Blame no one.  No alibi or excuses.  Whatever happens is a result of your own effort or not because of someone else, or the environment.

3.  Just do it.  Do not wait for perfect information.  Avoid procrastinating.

4. Eat healthy foods that will fuel you during the day.

5.  Surround yourself with positive people