Monday, August 19, 2013 Posted by moh alfan at 6:40 AM
The Business Economics major is a great complement to another major or minor in business, political science, history, accounting or marketing. Economics not only studies economics research and economics financial systems, but also social issues like poverty, pollution, inflation, unemployment, recession and economic growth. Top market economists are analytical problem solvers who are useful in almost every major industry. They study how the optimal amount of production can be achieved to meet society's needs. They study market forces that shape financial decision making. They look at how politics affect the commerce marketplace. They look at data to forecast, analyze trends and apply their understanding to a whole range of public issues. To get an undergrad degree in Business Economics, students attending an accredited economics university will need to take courses like macro economics, microeconomics, financial accounting and reporting, calculus, economics statistics, econometrics, money/banking/credit, business writing, the stock market, labor economics, monetary economics, international trade theory, law and economics, industrial organization, economics and business strategy, organizational psychology, formal organizations and politics and the economy. Students should have a good understanding of math, politics and business. People often choose this major because they want a good job, they want to make a lot of money, they want to be a manager or CPA, they want to have a secure job or they want to get into a good graduate school. The common starting salary for economists is $38,000 for a bachelor's degree, $48,000 for a master's and $70,000 for a PhD, according to a 2002 National Association of Business Economics survey. Those with an economics major enjoy the highest median income compared to other majors, experts say. Economics research also suggests that economics majors earn 20% more than business administration majors, 19% more than accounting majors, 18% more than marketing majors and 15% more than finance majors. When a potential employer sees this major on a resume, he or she immediately understands that you have a solid foundation of math, politics, business and economic theory. Your degree also shows that you have the capacity to process complex subjects and it highlights your problem solving skills, which is valuable in any field. Individuals with a degree in Business Economics have been recruited by employers like the California State Controller's Office, Cerner Healthcare Information Technology, Coca-Cola, Consolidated Graphics, Deloitte Services LP, Edward Jones, Enterprise Rent-A-Car, Ernst & Young LLP, General Mills, Inc., Insight, JPMorgan Chase & Co., Liberty Mutual Insurance Group (MA), Medix Staffing Solutions, PetSmart, Raytheon, Sherwin-Williams, Travelers Insurance and Wells Fargo Financial. The economics field is expected to grow 7% by 2016, adding another 16,000 workers. People with bachelor's degrees can get almost any entry-level job in business. Master's degree holders generally compete for sales and management trainee positions. Those who hold PhD degrees often go on to teach or become top market analysts in their fields.
Friday, May 10, 2013 Posted by moh alfan at 2:30 AM
You woke up this morning and decided that today is the day to get sales training for your team. But what is driving that decision? What makes you think you really need sales training? Before setting out to find a sales trainer, the next best step may be to assess the sales team since there are a lot of options out there. Do they meet your profile for your ideal salesperson? If not, training becomes secondary to finding sales talent that meets your needs. In this article, I will share with you five important steps in making a sales training decision. Trainer Type. The spectrum of sales trainers is very broad. At one end of the spectrum is the motivational speaker. These are folks that excite the troops, but provide few actionable tools. The team walks away feeling great, but needs to have a process to follow for this to be an effective venture. This type of trainer makes sense for companies with morale issues or if the organization has undergone significant change. In the middle of the spectrum are those trainers who have some personality flavor and present a comprehensive sales methodology. These engagements are ideal for companies that do not have a selling system and are trying to bring energy and focus to their sales team. At the other end of the spectrum is the sales skill trainer. Oftentimes, the trainers in the middle of the spectrum can deliver this type of training as well. These trainers focus on specific areas of the buying process and work on skill development with the team. These are not "rah-rah" sessions, but are usually structured as workshops. From these sessions, the salespeople walk away with actionable tools that they can implement into their selling system. This type of trainer is beneficial in support of a new corporate strategy, with newer salespeople, or to tackle problem areas in the buying process. Expectation Setting. The key to success in any relationship is defining the realistic expectations upfront with the trainer. The magic word here is realistic. Going into the engagement thinking that one day of sales training will help your team double their sales in the next month is unrealistic. While working with the trainer, objectives should be established that allow for a measurement of success. Sometimes, the sales training initiative is driven by the C-suite (CEO, etc) which can create a feeling of uncertainty for the sales management team. Engaging the sales management team in the scope of the training is a key to a successful engagement. Leaving them out will make them resist the program. If they resist the program, so will the salespeople. Expectation setting is also important for participants. Unlike many other professional occupations, sales training is not often greeted by the team with open arms. Tell an IT professional that you are sending them for additional skill training and they jump for joy. Not the case with salespeople. Since many are type "A" personalities, there is a feeling of knowing it all. Thus, it is important to work with the sales training participants to ensure their needs and goals are heard and understood. Area of Focus. The operative word here is focus. If the training need is specific, the session(s) needs to zoom-in on the specific areas of the buying process that need improvement. An oxymoron is to say that the training is going to focus on the entire process from prospect to award. This isn't focus, it's everything! Sometimes a consulting engagement is needed prior to the training to help identify the right area of focus for the training. If there is a need to train the team on the entire process, the training time and approach should be adjusted to accommodate for it. One of the other important reasons for the concentrated focus is that adult learning is very different from child learning. For one, it is well-documented that adults cannot absorb as much information, nor as fast, as children can. The training needs to be structured in a way that accommodates for that style. In addition, salespeople are not individuals who can sit for a long period of time in a lecture. These are movers and shakers that want to be out selling. How will the trainer engage the team while teaching them new skills? Reinforcement Plans. Thinking back to high school science class, there is an experiment where the fire from a Bunsen burner is applied to water. The purpose of the experiment is to show what happens when heat is applied to atoms. The experiment shows that the atoms get excited and bounce off the walls while the heat is applied. Once the heat is removed, the atoms move back to a static state. One of the worst things that can happen following sales training is that the team walks away excited but doesn't know how to implement the tools. Just like in the science experiment, they are like heated atoms, but quickly return to the static state due to a lack of reinforcement of the program. If the company and sales management is not committed to a follow-up program that reinforces the training, the dollars invested become wasted. If the issue is resources, some trainers offer follow-up programs. Budget. One of the biggest disconnects in procuring sales training is price. A President will say to the trainer that the objective of the training program is to help the sales team selling high value/high price products. The company positions itself at the top of the market from a price perspective. When it comes to contracting for sales training, price becomes the main issue. Wait a minute! High value must meet high value. If you don't want your prospects buying based on price, don't short change your sales team that is tasked with accomplishing that goal. Oftentimes, the way this comes out is by expanding the size of the class to reduce the number of sessions needed. Coming back to the point on adult learning, there is a diminishing return in class size. Based on the method the course is delivered and the subject matter, the class size can range from ten to twenty-five. One of the great questions to ask yourself as you look to buy sales training is how many new sales does the team need to make to cover the cost of the investment. Sales training is a great investment for a business if done prudently. Consider these five points and you are well on your way to a successful engagement. Lee B. Salz is President of Sales Dodo and author of "Soar Despite Your Dodo Sales Manager." He founded Sales Dodo with the fundamental purpose of helping companies remain competitive in the ever-changing business world. Adapt and Thrive! Those who fail to adapt become extinct, just like the dodo bird of ages ago. Many laugh at the use of the word dodo, but there is nothing funny about a business losing its competitive edge due to unmanaged change. Salz has spent over 15 years helping companies adapt and thrive. He has successfully differentiated seemingly commoditized products and services in a wide array of industries resulting in record revenues and profits for companies ranging from Fortune 1000 to small start-up ventures.
Wednesday, April 17, 2013 Posted by moh alfan at 10:00 AM
Venture capital finance is instrumental in inducing technological development, stimulating creativity and innovation and nurturing entrepreneurship. Concerted efforts are required by financial institutions, private sectors and other agencies to create a conducive environment for the growth of venture capital. In particular, initiatives are required to widen the perspective of venture capital finance and create a favorable fiscal and regulatory environment. The venture capital schemes of the term-lending financial institutions presently focus mainly on supporting development of technology and implementing indigenously developed yet untested technologies. While this concern is understandable because of a genuine need for expanding the base of viable indigenous technology, it leads to a somewhat limited view of venture capital. What is required is a broader perspective on venture capital so that it is viewed as an instrument for financing a wide range of projects that essentially have a "high risk- high-return" profile. In this context, it is important that entrepreneurs, financing bodies, fiscal authorities, regulatory bodies and others understand the concept and relevance of venture capital. It should be appreciated that venture capital is an instrument for strengthening entrepreneurial forces in the economy; a device for inducing risk taking and a mechanism for promoting a closer investor/investee relationship. Those who participate in venture capital arrangements must overcome certain traditional psychological barriers and be willing to build a relationship of genuine partnership and not a perfunctory association of limited involvement. To nurture the growth of venture capital, a favorable fiscal and regulatory environment should be created. Some of the specific things that may be are investors subscribing to the capital of venture capital funds may be given greater tax reliefs, and the long-term capital gains of the venture capital funds may be taxed at a concessional rate or even exempted totally from taxation. Orderly and efficient mechanisms must be evolved to facilitate liquidation of investments of venture capital funds.
Posted by moh alfan at 7:01 AM
Maintain good sales performance # Easily manage every lead and sale # View sales pipeline at a glance # Quickly review sales team activities Get the most from Sales Training Having a top functioning sales team is vital to any business that relies upon sales based revenue. If your sales professionals do not perform well, then your bottom line suffers. As simple as it sounds, one of the best ways to maintain good sales performance is through Sales Training. By training your sales team, you can not only improve performance but also create some consistency of technique across your team. Pros and Cons of Sales Training There are both positives and negatives to training a sales team. In most cases the pluses outweigh the minuses, but all issues should be considered. Pros for Sales Training: * Educate new salespeople in useful and effective sales techniques. * Refresh the knowledge and techniques for existing salespeople. * Introduce new methods to a sales team. * Keeps proper methods and procedures fresh. * Can help build consistency in your sales process. Cons for Sales Training: * May take time away from selling activities. * Some new techniques may contradict current knowledge. * Resistance of some salespeople to be taught something they already know. * Takes time to implement new techniques and methods. Sales Training Cont. Maintain good sales performance A program of ongoing Sales Training is one of the best ways to improve your sales process and sales effectiveness. By performing Sales Training on a regularly scheduled basis you can ensure the knowledge of your team is always improving. This program for training allows for the continual introduction of new sales methods and lets you shift focus periodically to specific areas that need improvement. An integral component of this training program is the ability to monitor your progress and how it is affecting your sales. Sales software for managing and reporting on your sales pipeline can be major benefit. Monitoring the Sales Training Process Sales software like Prophet can give you the power to monitor your sales efforts and keep track of how changes in your sales techniques and methods have helped or hindered. By tracking the stages in your sales process you can evaluate how specific techniques introduced during Sales Training have improved your methods. Sales software programs also help to identify potential weaknesses in your sales process and give you areas to focus on in your Sales Training. Keys to Sales Training A program of ongoing and organized Sales Training can be a major benefit to any sales organization. If you are planning, reviewing, or developing a program for Sales Training for your organization always consider the following issues: * What are the pros and cons of doing the training? * What areas in your sales process need to be addressed or improved? * How will you monitor your sales and the affect of the Sales Training? * Who will attend the training? As with anything you do related to your sales and sales process, training can have a major affect. If done in a well organized and planned fashion, ongoing Sales Training can be one of the most effective investments for your company.