Topic How to win the competition

Topic How to win the competition .1. Prepare about finance human resources a. Prepare about financeClear plan for the revenues and expense and seek the investment from your shareholdersProject your cash flow per monthEstimate your startup costs if you are starting a new business.b. Prepare about human resourcesOn a ship, you are the captain so you need to pick the best sailors and the most important thing is their loyalty 2. Define the strategyBusiness strategy is a long term plan of action designed to achieve a particular goal.Strategies succeed lead to business growth, a strong competitive position and strong financial performance Defining your business strategy is a core management function

Welcome to Discussion

of group 1

Teacher : Nguyen Thi Xuan Phuong

Đặng Thị

Phương Anh

Nguyễn Thị Ngọc Bích

What would I do

to become a winner ?

…

…

A Preparing

1 Prepare about finance & human resources

 Clear plan for the

revenues and

expense and seek the

investment from your

shareholders

a Prepare about finance

 Project your cash

flow per month

 Estimate your

start-up costs if

you are starting

a new business

b Prepare about human resources

 On a ship, you are the

captain so you need to pick the best sailors and the most important

thing is their loyalty

2 Define the strategy

is a core management function

3 Define your brand

 The brand is considered the core value of the enterprise that identifies your product and differentiates it from its competitors

- Third: analyze the needs of

customers to create the most

brand with customers

- Fourth: provide the most

accurate competitive

standards

- Thursday: calculate the

brand value adjusted for the

highest value

-First : the most appropriate market segments must be identified

- Second: analyze the finance of the business

to create the strongest brand

4 Find a niche

Find a niche

market and

establish themselves as a

dominant player

in that niche

Fdentifying their

existing resources to select the market

If your business resources are limited, you should choose a niche in a small market and vice

versa

1 Make sure that the skill of employees meets the requirement

The bigger competition-the higher the pressure so the company need to have the qualified employees

The first step is

to find the right

person

And the next important step is

to train them

To learn by experiment

If you don’t try new things, you will never know and you play safe and easy on everything

Need more new products to be able to attract customers, build reputation

2 Don't be afraid to experiment

3 Get people excited

If you’re not mentally sound, you won’t have the presence of mind

to focus on the competition

Everyone is a factor

in creating a comfortable working environment

Choose to have a positive attitude and remain motivated

4 Don't necglect your marketing

 Marketing is the process of interesting potential customers and clients in your products and

services

 Marketing involves

researching, promoting,

selling, and distributing

your products or services

 Check out the best ideas ,a good marketing strategy will take the company forward

C Acting the competition

Which feature immediately differentiates you from your competitors ?

It’s yourprice.

1 Get your prices right

Prices right is the price

at which the buyer accepts the purchase

of the seller

2 Provide excellent customer service

 Any business would want deliver excellent service to its customers However, it is the biggest challenge

 To deliver excellent customer service need:

-Treat your team members the way you want them to treat your customers

- Greet the customers with smile & energy

- Always listen to the customers and

understand their requirement

- Respect the customers

- Empathize with the Customers

- Focus on counselling rather than hard selling

- Look for opportunity to build rapport with the

customers

3 Listen to customer feedback

Whether customers are satisfied or

dissatisfied with a product or service?

 Their opinion is a resource for improving customer experience and adjusting your actions to their needs

 Top companies always

4 Make friends with the enemy

 Make friends with

all of your

competitors

because it's better

to have allies than

anything else

 Taking away an enemy will increase your chance

of winning and becoming

an ally they will help you more

5 Have a customer database

 Make sure that

you are doing

 Hand off customers between sales and service easily

and also handle the lifetime of the customers even as employees come and go

6 Never stop learning

 One of the best things about life is that we never have to stop learning

 There are always new skills to learn and techniques for us to adopt

 Promote and support staff to learn to skills

to bring back to the company

 Invest heavily into employees

 Self-growth is key for us to live fulfilling lives and to have a successful career

 In the competition the strong is

the winner andthere no place for the weak If

you smart and

nity, we believeyou will be winner.