business technology (BT)
Business technology (BT) is the ever-increasing reliance on information technology by businesses of all types to handle and optimize their business processes .
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#business to business
What is B2B?
If your business is focused on selling products or services to other companies, your model is called B2B, or business-to-business. In contrast with the business-to-consumer or consumer-to-business models, B2B facilitates the transfer of raw materials, parts and components from which additional profit is derived, through manufacturing or final sales to consumers.
An example of a traditional B2B market is automobile manufacturing. A vehicle s components are generally manufactured by different companies, and the auto manufacturer purchases these parts independently. The tires, hoses, batteries and electronics may be manufactured by separate companies, and then are sold directly to the automobile manufacturer. The products themselves do not end up in the hands of consumers, though often, the end product of the purchasing business does. Because so many small transactions result in one large business-to-consumer sale, B2B companies tend to be high volume.
B2B, like all business models, requires some careful planning to undertake successfully, noted Brent Walker, vice president and chief marketing officer at C2B Solutions, a healthcare marketing consulting firm. B2B typically relies on its sales function and account management team to establish and strengthen customer/client relationships, Walker told Business News Daily. Marketing may include advertising in trade journals, having a presence at conventions and trade conferences, digital marketing (online presence, SEO, email outreach) and other traditional awareness efforts.
B2B e-commerce, or e-biz, is a slightly more evolved version of commerce. This type of e-commerce is the electronic exchange of business documents among businesses for the purpose of conducting commerce. This began with the Electronic Data Interchange (EDI), which started in the 1960s. Trading partners within supply-chain networks are typical participants, as they exchange electronic documents in support of the purchasing of goods and services. B2B e-commerce is used for contract manufacturing, customs declarations, global trade compliance, order management and supply-chain logistics. By using B2B e-commerce, companies can improve communications among partners and enhance the purchasing experience from business to business.
When applied to e-commerce specifically, B2B can be broken down into a number of categories. The first category is company websites, as many companies need to reach other companies and their employees specifically. A company website can serve as the entrance to an exclusive extranet for customers or registered site users, or as an intranet for internal use only. Companies can also sell directly from this site, e-tailing to other businesses. Some B2B companies provide software for building B2B websites, thus becoming a B2B for B2Bs. This software includes site-building tools and templates, database features and methodologies for best practices, plus transaction software.
The second category is product supply and procurement exchanges, otherwise known as e-procurement sites. These sites serve a range of industries and often focus on a niche market. A company purchasing agent can shop for supplies from vendors, request proposals and even make bids for purchases at specific prices. These B2B websites enable the exchange of product supplies and procurement.
Specialized or vertical industry portals provide a subweb of information for a specific industry or vertical, such as health care, construction, education or other vertical markets. These sites provide product listings, discussion groups and other features. Vertical portal sites have a broader purpose than procurement sites, though they may also support purchasing.
Brokering sites act as an intermediary between service providers and a potential business customer. For example, a construction company may need to lease equipment. A broker site can help the construction company find an equipment manufacturer that is willing to lease out the needed equipment. Brokering sites and services include Neostratus B2B Cloud Brokerage Platform and Axway B2Bi .
The final category is information sites, or infomediaries, which provide specialized information sites on specific industries for companies and their employees. These specialized search sites are often used as trade and industry standards organization sites.
While this may sound complicated, there are a number of companies you already know that are B2Bs. Dropbox is a storage service that many consumers use, but businesses also use it. GE makes a number of consumer goods but also provides parts for enterprises. Perhaps you ve worked at a company where the paychecks were stamped by ADP, a company that provides payroll and financial services for businesses. Xerox is a household name but makes billions on providing paper and print services to businesses.
Though B2B is critical to the success of many industries, when considering your company s potential, do not limit yourself to one model. B2B, C2B and B2C models need not be mutually exclusive, and combining their particular strengths can generate new opportunities for your business.
A business can package consumer insights and consumer-centric solutions to sell or provide as a value-add to its business customers/clients, Walker said. In a consumer-driven marketplace, such a service can be extremely valuable to a business.
Resources for B2B businesses
The following sites and tools can help you make the most of your B2B model:
Elaine J. Hom also contributed to this article.
Business Continuity is often described as ‘just common sense’. It is about taking responsibility for your business and enabling it to stay on course whatever storms it is forced to weather. It is about “keeping calm and carrying on”!
BC is about building and improving resilience in your business; it’s about identifying your key products and services and the most urgent activities that underpin them and then, once that ‘analysis’ is complete, it is about devising plans and strategies that will enable you to continue your business operations and enable you to recover quickly and effectively from any type disruption whatever its size or cause. It gives you a solid framework to lean on in times of crisis and provides stability and security. In fact, embedding BC into your business is proven to bring business benefits.
Business Continuity (BC) is defined as the capability of the organization to continue delivery of products or services at acceptable predefined levels following a disruptive incident. (Source: ISO 22301:2012)
Business Continuity Management (BCM) is defined as a holistic management process that identifies potential threats to an organization and the impacts to business operations those threats, if realized, might cause, and which provides a framework for building organizational resilience with the capability of an effective response that safeguards the interests of its key stakeholders, reputation, brand and value-creating activities. (Source: ISO 22301:2012)
At the heart of good BC practice, sits the BCM Lifecycle.
The BCM Lifecycle shows the stages of activity that an organization moves through and repeats with the overall aim of improving organizational resilience. These stages are referred to as the Professional Practices and are made up of Management and Technical Practices.
Find out more about business continuity by downloading the GPG Lite for free, or why not take our eLearning Building Resilience course that will take you through the basics of making your organization more resilient in the face of an incident.
Watch a short four minute video to hear about the importance of Business Continuity Management:
#the stock market
What is the Stock Market?
The stock market is an everyday term we use to talk about a place where stocks and bonds are traded meaning bought and sold. For many people, that is the first thing that comes to mind for investing. The goal is to buy the stock, hold it for a time, and then sell the stock for more than you paid for it.
How long do you hang on to stock? Investors who hold stock for 15 years or more usually succeed in the market. Stocks are long-term investments. But there are no guarantees.
What are stocks?
Stocks are units of ownership in a company.
Companies sell stock to get money to
- Research better ways to make things
- Create new products
- Improve the products they have
- Hire more employees
- Enlarge or modernize their buildings
So just as the federal government sells bonds to raise money, businesses raise money by selling stock.
How it works
When you buy stock, you become a shareholder. which means you now own a part of the company. If the company’s profits go up, you share in those profits. If the company’s profits fall, so does the price of your stock. If you sold your stock on a day when the price of that stock falls below the price you paid for it, you would lose money.
Stock prices can rise and fall
In the stock market, prices rise and fall every day. When you invest in the stock market, you are hoping that over the years, the stock will become much more valuable than the price you paid for it.
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Stocks Basics: What Causes Stock Prices To Change?
Stock prices change every day as a result of market forces. By this we mean that share prices change because of supply and demand. If more people want to buy a stock (demand) than sell it (supply), then the price moves up. Conversely, if more people wanted to sell a stock than buy it, there would be greater supply than demand, and the price would fall.
Understanding supply and demand is easy. What is difficult to comprehend is what makes people like a particular stock and dislike another stock. This comes down to figuring out what news is positive for a company and what news is negative. There are many answers to this problem and just about any investor you ask has their own ideas and strategies.
That being said, the principal theory is that the price movement of a stock indicates what investors feel a company is worth. Don’t equate a company’s value with the stock price. The value of a company is its market capitalization. which is the stock price multiplied by the number of shares outstanding. For example, a company that trades at $100 per share and has 1 million shares outstanding has a lesser value than a company that trades at $50 that has 5 million shares outstanding ($100 x 1 million = $100 million while $50 x 5 million = $250 million). To further complicate things, the price of a stock doesn’t only reflect a company’s current value, it also reflects the growth that investors expect in the future.
The most important factor that affects the value of a company is its earnings. Earnings are the profit a company makes, and in the long run no company can survive without them. It makes sense when you think about it. If a company never makes money, it isn’t going to stay in business. Public companies are required to report their earnings four times a year (once each quarter). Wall Street watches with rabid attention at these times, which are referred to as earnings seasons. The reason behind this is that analysts base their future value of a company on their earnings projection. If a company’s results surprise (are better than expected), the price jumps up. If a company’s results disappoint (are worse than expected), then the price will fall.
Of course, it’s not just earnings that can change the sentiment towards a stock (which, in turn, changes its price). It would be a rather simple world if this were the case! During the dotcom bubble, for example, dozens of internet companies rose to have market capitalizations in the billions of dollars without ever making even the smallest profit. As we all know, these valuations did not hold, and most internet companies saw their values shrink to a fraction of their highs. Still, the fact that prices did move that much demonstrates that there are factors other than current earnings that influence stocks. Investors have developed literally hundreds of these variables, ratios and indicators. Some you may have already heard of, such as the price/earnings ratio. while others are extremely complicated and obscure with names like Chaikin oscillator or moving average convergence divergence .
So, why do stock prices change? The best answer is that nobody really knows for sure. Some believe that it isn’t possible to predict how stock prices will change, while others think that by drawing charts and looking at past price movements, you can determine when to buy and sell. The only thing we do know is that stocks are volatile and can change in price extremely rapidly.
The important things to grasp about this subject are the following:
1. At the most fundamental level, supply and demand in the market determines stock price.
2. Price times the number of shares outstanding (market capitalization) is the value of a company. Comparing just the share price of two companies is meaningless.
3. Theoretically, earnings are what affect investors’ valuation of a company, but there are other indicators that investors use to predict stock price. Remember, it is investors’ sentiments, attitudes and expectations that ultimately affect stock prices.
4. There are many theories that try to explain the way stock prices move the way they do. Unfortunately, there is no one theory that can explain everything.
#international business jobs
What Can I Become with a Master’s in International Business? After graduation
A Master’s in international business is ideal for students who are planning to build a career in international business. Through this program, you can develop a variety of skills necessary to understand the global economy. It also gives you the ability to plan strategically for international operations and the capabilities required to execute those operations. A study programme in international business solely focuses on the area of international business.
Career opportunities with a degree in international business
With the massive growth of international business, there is a huge demand for individuals with an in-depth knowledge and understanding of global markets. This is one of the reasons why completing a Master’s or Bachelor’s degree in international business can open the doors for a series of career opportunities. Whether you choose to explore careers in the field of marketing or finance, you will be able to choose from a wide range of opportunities.
If you choose to go in the marketing direction, international business studies can be useful to land a job as an International Marketing Manager. In this position, you will be required to oversee the marketing strategy of a company in the international market. Your job will involve analyzing the potential market and predicting the profitability of various products or services.
The role of an International Finance Controller is popularly given to those who have completed an according specialisation in their international business programme and chosen to build a career in the field of finance. With this role, you will be dealing with various issues related to taxes, audits, accounts, regulatory compliance, and budgets. This position is typically the highest in the finance department for most companies.
After completing an international business degree, you can even land the role of an International Banking Manager. Your job will be to oversee the international banking policies and objectives as well as initiatives of a financial institution. You will also have the responsibility of developing and maintaining banking services to clients in the global market.
As a graduate in international business, you can also become an International Trade Manager. You will have the responsibility of overseeing every aspect of the trade negotiations and policies of an establishment be it a private firm or a government office. A Master’s program in international business will give you the necessary skills and knowledge to oversee contacts with important industry leaders and trade officials.
5. Business development
International business studies also prepare you for a career in the field of business development. You can become a Business Development Manager, which requires you to assess various marketing opportunities as well as the international target market. Your responsibility will be to evaluate a business to help it realize its full potential.
Higher studies in international relations degree
Once you complete a Master’s program in international business, you can even pursue a higher degree by enrolling in a doctoral degree program in the field. This degree will qualify you for more prestigious job opportunities such as the role of a CEO. You can even get into teaching at university level or get involved in research work.
#business analyst salary
What Is A Business Analyst And How Much Do They Make?
Over the last few years, the generic job title of business analyst has become popular in multiple industries. Although job duties can vary immensely, in the most general terms, business analysts work within a business or organization to identify and implement improvements to help a business achieve its goals. The title of business analyst can describe both entry-level workers and tenured professionals and compensation varies accordingly. This article discusses the work, compensation, and outlook for business analysts.
The Basics of Business Analysis
Business analysis is a disciplined, structured, and formal approach to analyzing a business process, identifying improvements, and implementing changes so that the business can better achieve its goals. It is based on facts, figures, and observations.
The International Institute of Business Analysis provides this job description, “A business analyst works as a liaison among stakeholders to elicit, analyze, communicate and validate requirements for changes to business processes, policies and information systems. The business analyst understands business problems and opportunities in the context of the requirements, and recommends solutions that enable the organization to achieve its goals.”
Business analysts can serve in many functions in almost any industry. For example, a systems analyst is a business analyst that focuses on how to best use technology to solve problems and improve outcomes. Other job titles where an employee perform business analysis include data analyst, solutions provider, change agent, requirements manager, specifications writer, researcher, product owner, product manager, or management consultant.
Business analysts may perform quality assurance, requirements gathering, documentation, or client support. They may also specialize in improving sales, by focusing on pre-sales, customer service. client relationship, and account management. Business analysts may also be very internally focused on process improvements within an organization and coordination across multiple departments and stakeholders.
Some qualities of a good business analyst include the following:
• Good listening skills
• Openness to change
• Adept in multitasking
• Expertise in prioritization, based on needs of multiple stakeholders
• Good negotiation skills, to seek timely buy-in on important decisions and prioritization from all stakeholders
• Identifying process improvement opportunities which can lead to efficiency and output improvements
Education and Career Path of Business Analysts
A bachelor’s degree or higher is required. Possible majors include finance, technology, management, and accounting. Because of the number of skills required, most business analyst positions are not open to new college graduates. Most business analysts attain their first position after a few years in a related position such as data analyst, functional analyst, systems analyst, business requirements analyst, or financial analyst.
The career path of a business analyst can include becoming a senior business analyst, a business analyst specialist in specific areas (such as SAP, Agile, or ScrumMaster), a business manager, a business architect, an enterprise architect, and finally a director or VP-level position. Other experienced business analysts become independent consultants, taking assignments on contract.
Almost any industry can employ business analysts, but most jobs are in information technology or management consulting firms. Other industries include accounting. investment banking. finance. and market research.
Salary and Compensation for Business Analysts
Compensation varies widely and is determined by the factors like location, experience level, and industry. For example, a business analyst working in a large New York-based investment bank will earn more than a business analyst performing market research for an automobile company in Michigan. Candidates who specialize in a specific technology (like SAP) may command higher premiums. Below are the average salary ranges and bonus percentages for business analysts.
- Entry Level: $40,000 to $70,000 with up to an 8 percent bonus
- Mid Career: $55,000 to $95,000 with up to a 10 percent bonus
- Senior Level: $70,000 – $150,000 with up to a 10 percent bonus
- Overall U.S. Average: $45,000-$110,000 with up to a 10 percent bonus
Business analyst is a general title for many different job functions in almost any industry. A good candidate should have an undergraduate degree and several years of work experience in the area of business analysis that he or she is interested in. Candidates can also take business analysis certifications courses like those from the International Institute of Business Analysis.
#small business crm
small business CRM – customer relationship management
In CRM (customer relationship management) terminology, the phrase small business CRM is used to describe a lightweight CRM application that is designed to meet the needs of a small business.
Customer relationship management solutions provide you with the customer business data to help you provide services or products that your customers want, provide better customer service, cross-sell and up sell more effectively, close deals, retain current customers and understand who the customer is.
While the phrase customer relationship management is most commonly used to describe a business-customer relationship, CRM systems are used in the same way to manage business contacts, clients, contract wins and sales leads.
The Difference Between Enterprise and Small Business CRM
Typically, CRM applications and software are considered enterprise applications that is an application designed for larger enterprises that would require a dedicated team to develop custom CRM modules, another team to analyze the resulting data and reports, plus an IT staff to handle costly upgrades and deployment.
Small business CRM applications differ from enterprise CRM in a number of ways including the amount of data handled by the system, IT requirements, pricing, and the tools and features of the CRM application itself.
Top 5 CRM Questions
What business to start in 2015: Starting a business advice and business ideas #business
#businesses to start
What business to start in 2015
The desire to become your own boss and work for yourself is growing and in election year the economy will inevitably be a key policy battleground, meaning small business-friendly pledges will be made.
With signs of revival and chancellor George Osborne’s recent promises of renewed business support and an extra £1bn funding for regional growth some might argue the climate for starting a business has never been better, making 2015 a great time to take the plunge.
Action point: Need a loan to start a business of your own? See how we can help here and here
This appetite for starting a business isn’t just hype; StartUp Britain reported a record 581,173 new businesses for 2014. markedly higher than 2013 and 2012, and the UK’s eco-system appears to be in good health with ONS figures showing a 6% drop in the number of British firms leaving the Companies House register.
Britain is expected to be the fastest growing G7 economy in 2015 – the IMF has predicted a 3.2% overall rise – and while London remains the start-up capital. regional start-up hubs are beginning to flourish with Manchester, Birmingham and Glasgow fast gaining reputations as top cities to start a business in .
It’s on the back of these positive indicators that we look to the coming months and the hot sectors and businesses opportunities that could prove fruitful for those looking to start a new venture. We’ve studied and assessed businesses which are gaining market traction, sought insight from leading research bodies such as Mintel, and analysed consumer trends to bring you our predictions of 14 top businesses to start in 2015.
From foods and fitness to technology, cycling, and even cafes with a twist, there’s a host of start-up prospects to suit a range of skills and backgrounds and this extends to part-time businesses that can offer supplementary income such as starting a niche social network .
With the freelance workforce now over four million strong and more firms than ever before looking to hire freelance talent, we’ve also identified opportunities for freelancers and “solopreneurs”. This includes starting up as a growth hacker ; a combination of smart marketing and tech development which is becoming increasingly sought after in the start-up world.
While several of the business opportunities listed aren’t new, the potential to innovate and target an established market with a disruptive new solution – take protein products for instance – are plentiful.
Follow the buttons above and below to find out what business you should start in 2015…
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#at home business ideas
There are many things you can do. Plus, you have the advantage of being more educated than your peers.
Firstly, I d suggest you to try and build an audience for yourself. The best way to get started with that would be to write a blog.
Do you have a hobby? Do you have a particular skill? You could help others pursue that hobby or learn that skill and make some profit from it too.
More often, we tend to have gained some skills by doing something, skills which complement the main thing. So, if you were a teacher, you d also to need to have good communication, crowd control and problem solving skills in addition of having the skill to teach. Try to explore these hidden skills of yours.
You mentioned that you had a child, did you pull off some clever skills or hacks while you were pregnant or your baby was growing up? Chances are many other women will also be in the same problem as you were in, write a book (eBook will be a good option here) detailing the problems and solutions you came up with. Sell it to the audience you have created. Initially, the money will not be that great, but if you keep coming up with good content and market yourself, there should be no problem in being able to run earn the money you want to.
Try reading new books, they help a lot. I recommend The $100 Startup. This book specifically profiles people who have earned around $50,000 a year doing things they love. Almost all the businesses mentioned here are not skill intensive and can be operated by anyone. Plus, the author also gives actionable advice on how and where to get started and what can you do to enjoy freedom and earn money.
Here s a list of what all you can do, according to me. Although, it would have been easier to answer this if you would have told, in which city you live and how much investment can you do. Still, I will try to do my best.
1. Teach what you know the best: Investment Banking — Apply in schools to teach commerce students of higher grades or apply in colleges. With industry exposure and experience I am sure you will easily get a job. Later, you can earn some extra money by giving tuitions in the evening. A teacher, teaching in a college and then giving tuitions can easily earn around 50,000.
2. Start Blogging: [ A lot of people below have listed blogging to earn money through Ads or affiliate marketing, but this will take time, it takes atleast 3 to 4 years to start earning a healthy amount through blogging and that too if you are regular blogger and understand lot many complexities like SEO, coding etc.]. Write about things that you understnad, you are at home, so you have time to research and read. Write your own articles and analysis about various mergers, economic trends, stock advices, etc etc. Publicise your blog through facebook and linkedin. Now use this as your customer base. Then start a separate consultancy and advisory. The way Google earns money. Give some services for free like research and analysis, in your case, and then earn from the presence of people. Later, with high traffic you will also be able to earn money from Ads. Also, if you will have a set of audience reading you per day, later you can also start writing for newspapers or magazines.
3. Start an Activity Centre: [ This is the reason, I asked how much investment you have. In both the options mentioned above, you will not need any investment but for this one, you will need an initial investment ]. Take a space on rent, or better if you have a hall and one room vacant in your home. Put 2 Pool tables, some table chair, an LCD or a Music system will also work, Free Wifi and provide some snacks. All this will cost around 2 lakhs of investment. Charge around Rs. 20 per person/per hour for the pool table. 8 people = Rs. 160. Assume that the shop remains operational for around 10 hours, our of which people play pool for say 5 hours, or for 5 hours the tables remain occupied. This will amount to Rs. 800. [Some times it may happen the tables are not fully occupied, that s why I decreased no of hours of occupancy. ] Provide snacks like, Masala Cola, Soda Lemon, Juice, French Fries, Burgers etc etc. They have high margin and it doesn t takes much expertise to make them. The free wifi and these snacks will make it a fun chill out and hang out place. People will come and spend time. Even if you will be able to make Rs. 400 from the snacks vertical. In aggregate you will be able make around Rs. 36,000 to Rs. 40,000 per month. Later you can expand to have a gym on the next floor or something.
4. Open up a Coaching Centre. This is similar to the 1st point. Education is the best business in India these days. One can easily earn Rs. 20,000 to 30,000 just by giving home tuitions in the evening, 4 to hours thats it. So you obviously will not give home tuitions, but open up your own coaching centre. Hire a teacher in the start, to teach subjects in which you are not very good. Preferably hire a college student as, they will be more enthusiastic and eager to teach and will charge less money, all they are concerned about is to make some extra bucks. Start with teaching commerce students, teach subjects that you know. May be 1st year you will not make much, but yes second year onwards you will have a decent income. And trust me this will rise exponentially. May be in 3 or 4 years, you will be earning much more than what you have expected above in the description, provided you give some good results and better branding.
5. Start Investing — You understand companies and you understand market. Start with a decent amount of Rs. 2 lakhs. Have a varied portfolio. With some technical analysis and a good knowledge, it wont be hard to make 20% return. And obviously later you will earn compounded returns. You will be able to make much more money after 2 or 3 years.
I hope some of these points will help and If any of these do work, then give me some tips on Investment Banking, or preferably teach me. P As, I want to be an Investment Banker and currently working in the same field. )