Strategic Management

An Overview of Family Offices Asia

Singapore provides one of the world class facilities in living, transport and recreation. Their government has introduced many simple investment policies, infrastructure benefits to attract the businesses. It is not surprising that many family offices Singapore are making headlines in the newspapers with ever-increasing targets of wealth. Family offices Hong Kong created a big wealth because of huge capital market in Asia. Being one of the financial capitals of China which practices free-market which is a key to many successful businesses around the world, it is witnessing a huge rush of family offices. Due to the success level, they also enjoy lower tax rates and tax policies during budget preparation. There is also allocation of funds from the government to provide all the facilities to promote the business.

As with their businesses which are more centric to their own expertise, it is difficult to manage the funds and wealth in other sectors. To manage a business is different thing and to manage the overall wealth is other thing. The wealth management system forms a family advisory group which provides you increased reliable services for tax issues, funding, securities, charities, investments and insurances. The family wealth plays an important role in overall business management also. As it is an important monetary asset, it is required to be grown on a regular sustainable manner. Wealth management gurus have experience that is expanded globally. Having worked with major enterprises, banks, investment firms, they have in depth knowledge about the investment of the money for long-term in the sustainable activities. These activities may or may not be of interest to the client but brings a good amount of return of investment.

Another important role it plays for Family offices Asia is that if your family office is scattered and expanded all over the world then you do not have to worry to locate resources only locally. The wealth services encompass different services which target specially to the clients with high-net worth. Since many of the businesses themselves require a lot of investment and regular money to keep on working, the banks and other investment firms require such high source of potential clients. These clients are being authenticated based on their current position in the market, the kind of service they are providing, the net worth and other acknowledgeable assets. Thus, you are benefitted from businesses unknown to you and also of high income.

The wealth services also provide you safety from the volatile conditions with risk aversion and capital shifting to safer currency such as dollar. They have strong connections with different businesses which readily welcome such funds.

The succession problems are also taken care of with separate portfolios for those who are being considered for the job. All of the responsible entities are suitably advised for the most opportunistic deals in their regions, risk aversion, philanthropy and other advantages. Thus, each portfolio is responsible for their growth and contribution to the overall wealth with type of decision. This all can determine in the end the suitable person for the successive ownership of the wealth.

Toy Store Business Plan Needs To Focus On Relevant Details

Toys will never go out of fashion. The demand for toys will be there as long as there are kids. In short, it’s a business whose demand curve is unlikely to slope downwards. Opening a toy store is a great idea and a well written business plan will ensure what you have in mind is translated into reality. Things that demand intensive focus in the plan are:

Business Summary

It is imperative that you are very clear about what you have in mind right from the onset, giving attention to:

1. Your Area of Interest: ‘Toys’ is a generalized term that encompasses a broad spectrum ranging from entertainment product for kids (stuffed toys, dolls, miniature models of animals, etc.) to digital elements like video games. Be specific about your target audience. Would you want to open a store that caters exclusively to toddlers, kids, young adults, or all three?

2. Your mission: Why do you want to open a toy store? Is profit the sole motive or along with profit, do you really like seeing the joy on the kids’ faces when they get a loved toy?

Competition

Your toy store for all intents and purposes is going to face tough competition. Factors like who are your nearest competitors, the market share of your nearest competitors, value added services provided by your competitors, their strength and weakness, and their target market, all these factors should be given careful thought.

Industry Analysis

Not only your business but the industry you operate in also needs assiduous attention. Year-round demand invariably translates into heightened competition.

You need to take into consideration:

– Profit Opportunities: How are you going to make a profit and how long will it take to break even? Can you expect a discount from your supplier which will make it easier for you to pass on the benefit to your customers? Care should be taken while selecting your staff.

– Technology: It is naive to expect the toy industry to remain isolated from the effects of rapid technology changes. With the explosion of personal computers, tablets, and mobile phones, games are becoming hi-tech. Be very clear about whether you will be keeping video games machines, game consoles, or PCs in your shop, since those are most likely to draw in both young and adult crowds. Remember that all these machines need big investment. Be very careful and updated of the present and the emerging technologies and the road ahead for your business.

Other Factors

Don’t fail to take legal issues into account. There have been instances where toys had to be recalled since they contained chemicals that posed acute health hazards. Also, pay very close attention to the marketing and sales plan that will deal with the ways and means of reaching your target audience and enticing them to your stores.

Six Sigma – Most Desire Key For Perfection of Any Process

Today the customers/clients are very intelligent and aware about their product quality and ‘s why they are looking for certified product to ensure the quality and better perfomence of product, so the highest standards are a necessity to achieve true excellence, and maintain your competitive edge in all aspects of business.

Six Sigma is business management strategy, originally developed by Motorola, that today enjoys wide-spread application in many sectors of industry and a very well known standard for perfetion.

Six Sigma is about generating and analyzing strategy; strategy that really affect your profitability, and the products or services provided to your Six sigma training is necessary for any business organization to satisfy their customer and to make an desire value and brand in Sigma Training is available to all levels of personnel involved in improving business processes, from anyone who can affect organizational change, to the highest senior management.

We can devide six Sigma in different levels or component in short DMAIC Define, Measure, analysis, improve and control. First of all understand all the procedure and requirement and Define the process, Measurement and check all the requirment and after that Analyze all the process from starting till the end. Then improvement means makes chnges where you got the fault in analyzing phase and after making all changes Control all new changes with already existing business processes and working environment.

Six Sigma mainly focuses on how to make consistent quality improvements until business processes are fully optimized. As soon a certain quality level is achieved, the organization shifts gears and starts concentrating on achieving other levels of quality. The whole process continues until all the business processes are fully optimized

Six Sigma Training guide and teaches your personnel to improve business processes, optimize performance, eliminate operational waste, and maximize profits, while saving your organization’s thousands of dollers and time.

Quality is the measure of customer’s satisfaction derived from the use of a particular product or service. Quality is always measured from the customer’s sigma is a most efficient tool for perfection of the business processes at presnt all business organization want six sigma certification for providing mental satisfaction to customers/clients.

Thinking Of Selling A Business? Keep 4 Essential Keys In Mind

These days, selling a business requires as much planning as starting it. After all, you spend a great deal of your precious money and time on setting up a business; and obviously, you would not like to sell it for a loss. Not surprisingly, experts say it takes a business owner a minimum of 5 years time to implement a successful exit plan strategy.

There could be various reasons for selling a business. You could be compelled to sell a business because of bankruptcy or some emergency or natural disaster that may have disabled the business to operate. Or you might be thinking of selling a business to go into retirement. Or better still, the plan might be to start a new business by selling the present one.

Usually, businesses do have some logical successors, especially the family owned businesses. But typically, the small and medium sized entrepreneurial startups do not have the luxury of logical successors. Hence, such entrepreneurs or small business owners are left with no option other than selling the business.

Whatever the reason, you need to chalk out an effective exit plan that yields profits for you. Here are a few things which you need to consider when you plan to sell your business:

Keep everything up-to-date

Selling a business is like selling a house. When a house is up for a sale, don’t you clean it up, give it a fresh coat of paint and make it presentable? Similarly when you plan to sell a business, keep everything organized and ready, right from the infrastructure to the financial records. Even if you are no more interested in running the business, you would still have to keep the financial or business records updated, keep the premises spic and span and the inventory full; in order to draw potential customers.

Check your facts about what you seek to sell

Selling a business doesn’t only mean physical assets. It includes trademarks, goodwill, clients list and so on. You have to determine whether you want to sell everything in the corporation or not.

Greater revenues

Place yourself in a buyer’s position and ask yourself this question: ‘Will you buy a business that doesn’t guarantee great revenues”. The answer will of course be NO. Can you then expect to attract good buyers if your business is not bringing in large revenues?

The key to getting good buyers and an expected price lies in maximizing your operating profits in the run up to the sale of the business. If you require proper guidance on how to maximize revenues, you can join a CEO peer group in Atlanta or any other city in which you operate. CEO peer groups are one of the best ways of getting practical guidance, especially if you are yourself a CEO, President or General Manager who does not get the right kind of support or honest opinions in his/her own organization.

Minimize risks

If you are confused about what you can do in your business to draw potential buyers; start thinking from a buyers’ point of view. No buyer will buy a business which involves big risks. Identify what needs to be done within your organization in order to minimize risks. Besides reduce your liabilities as much as possible and settle lawsuits if you have any.

Chalking out an exit planning strategy is not as easy as it appears to be. Therefore it is always a good idea to become part of a CEO peer group which can assist you in effectively carrying out an exit plan. CEO groups in Atlanta or any other city consist of CEOs, COOs and other top level executives who meet once a month to share their problems, business ideas and exit planning strategies. They counsel each other and give each other honest, no-frills-attached opinions and suggestions. Here you can expect to get practical ideas about how to conduct an exit plan.

Most of the time CEOs are so busy in managing their own businesses that they don’t get time to plan exit strategies. That is why it is all the more necessary to join a CEO peer group and take help from people who have years of experience behind them and can offer you practical advice and not just bookish knowledge.

Why Joining Forces With a Competitor Could Benefit Your Business.

Competition is probably one of the biggest problems for many businesses. You have to constantly monitor what your competitors are up to; what prices are they charging customers, what prices they pay for their supplies etc. Keeping a firm grasp of everything every one of your competitors is up to, is arduous work and can lead to feelings of slight paranoia as you struggle to keep up with each of their new developments.

One solution could be to stop competing with them and join forces. After all there is strength in numbers and if you are competing for the same share of the same market it could make sense to combine your efforts. There are many ways to do this; merger, acquisition, joint venture or a number of other formal and informal arrangements.

In this article I will only be looking at the main benefits, in general terms, of bringing two competitors together, and what can be gained by two competitors setting aside their differences and joining forces to produce a larger, stronger and more stable enterprise.

Tap into technology- When two competitors combine forces they may be able to share their respective technologies. For instance, there may be a common product that they are both independently developing; if they share each other’s technology, they may be able to develop the product and take it to market more quickly.

Reduction in the bargaining power of suppliers- If competitors join forces they may be able to obtain supplies at a lower cost from certain suppliers. Indeed, as a joint unit they may be able to order larger quantities of a raw material or components and thus obtain a better bulk order discount.

Economies of combined operations- If two competitors merge their operations they may benefit from economies of scale. Any overlap of common processes and their associated costs could be reduced. This can lead to major savings for the joint unit as a whole and in turn can have a positive effect on profits.

Increased bargaining power with customers- cooperation between two companies may mean that they are able to increase the price that customers pay for a particular product. For example, if a product is only available from two independent companies then customers have some choice as to who they buy from and what they pay. However, if these two companies join forces they can demand a higher price as customers now only have one choice.

Ability to diversify- sometimes competitors have different complementary products within their product lines. If you collaborate you can offer a combination of these products to other markets which were not possible to approach before. This can open up multiple income streams for both parties.

If a particular market is very competitive, this is of course, often a good indication that there is plenty of money to be made; indeed, competition is extremely healthy in many industries. However, there will always be competition and occasionally it can also be good to stop competing and consider joining the same team, after all two heads are often better than one.