Things an ambitious professional should never do!

There are a lot of differences between a successful professional and an average one. In both business and personal lives, success is the result of sticking on to some good habits and breaking free from some other.

Big NO to multitasking

Though multitasking is often considered a common method to increase productivity, the reality is multitasking is as hard as two-timing, not everyone is good at both.

Time and time again, numerous studies have confirmed that multitasking isn't any good for us. It not only can kill our productivity but also makes it harder to focus on work. Focusing on a task at a time will help us to get more done with fewer mistakes, and improve our concentration on the long run.

Perfectionism; our worst enemy

Perfectionists believe that good is never enough. They have a hard time starting things and an even harder time finishing them. As far I understood, perfectionism only exists in the minds of people. A good professional should not complicate things by obsessing over every last detail, but they strive to come up with workable solutions. If they fail, they learn from it and move on.

Don't always say YES

When we are faced with a request, before saying yes we should make sure we don't compromise our own priorities. This doesn't only apply to work but also to our personal and social commitments. Successful professionals never let work take over their personal lives. Remember, saying 'no' without feeling guilty is an art.

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Last day, while digging my Gmail sent items, I found a decade old CV of mine. Perfectionist, Hard working, Multitasker, it has all bulls***s to describe me. Our school day CVs haven't got much that define our present-day versions, but they help us realise how far we moved forward.

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Memorial of the lost love!!

She was awesome, pretty chick with some impressive curves, even my cold stare was enough to turn her ON; she's Samsung Note7. 

As a hardcore android fan and tech enthusiast, I am still in love with my lost love, infamously most amazing (most amazingly infamous) hottie Swanchick Naughty7. I was confused when Samsung announced her recall over blow up concerns, whether to go with exchange or get the full refund??. The exchange offer wasn't so welcoming; why should I exchange this awesome flagship with something inferior?. My choice was encashing the refund scheme. Should I be happy or in tears?

It's heard some vendors ask to return the 'free cheese' 128 GB memory card and all accessories while returning phones. Since I had had a replacement piece I was asked to return the phone and keep accessories and memory card with me as the memorial of the lost love. But if your vendor is stubborn, demanding the return of every bit and piece, make sure you have damaged the memory card, as required. :) 

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Trends that will shape the future of Enterprise Resource Planning

Trends in the business world are constantly evolving and maturing; they originate from simple thoughts or ideas, grow as strategies, mature and finally become necessities, that we wonder how we ever ran a business without them.

There are a lot of technology as well as business trends affecting enterprises these days. It is obvious that leaders in global Enterprise Resource Planning (ERP) marketplace always show an open approach to innovations and market trends through the years. Below are the major trends that I believe have the potential to shape the future of ERP.

Internet of Things (IoT) will revolutionize business

The Internet of Things has already started taking the human race to the world where anything around us has the capacity to communicate, as you have seen in science fiction movies. Analyzing progression in technology and increasing demand for intelligent devices, I believe there will be 100% IoT within a decade.

(Image: Disruptive Technologies Global Trends 2025; Wikimedia Commons - Licence)

In the case of Enterprise Resource Planning solutions, devices attached to various resources and assets can feed all relevant data including their location, performance, usage etc. to the application without requiring human intervention.

Wide acceptance for cloud services

For many years, the data security concern was the big issue restricting organizations from moving to cloud ERP. Now, as the result of technological advancements and fine-tuning these security concerns have been addressed and socialized.

(Video : ePROMIS Solutions Inc. Texas)

As stated in the market analysis report of ePROMIS Solutions Inc., a global leader in Enterprise Resource Planning solutions, the number of Cloud ERP inquiries has increased by 60% in the first half of 2016, compared to the same period in the previous year. Analyzing current market trends, I predict a much wider acceptance for cloud ERP in the coming years. 

Getting more specific

Globally the trend to become more industry-specific continues to grow and more organizations consider improving their business processes with a flexible industry-specific ERP environment.

(Photo: 贝莉儿 NG; Image source: unsplash.com. Creative Commons Zero - Licence)

Though a number of ERP vendors offer industry-specific solutions these days, only a few solutions have succeeded in providing organizations with the exact functionality, when and where the business needs it. The demand for pragmatic and innovative industry-specific software will reform the ERP industry and more organizations will replace their generic, traditional ERP software with industry specific solutions.

More SMEs will adopt an ERP environment

Market studies acknowledge the Small and Medium Enterprises as the backbone of any economy. Identifying the potential of growing organizations, leaders of global ERP software sphere are now focusing on developing efficient strategies to dominate the small and mid-size sector.

(Photo: Luis Llerena; Image source: unsplash.com. Creative Commons Zero - Licence)

Up till ERP software and deployment became more cost-effective, larger organizations had a bigger technological advantage over their smaller and mid-sized rivals. Gone are the days where a company needs millions to embrace Enterprise Resource Planning environment.  The increasing competition and the need for more sophisticated business solutions will accelerate ERP adoption of Small and Medium-sized Enterprises. 

"Trends originate from simple thoughts or ideas, grow as strategies, mature and finally become necessities, that we wonder how we ever ran a business without them"

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Electronic Word of Mouth and Consumer Behaviour

Word of Mouth: The passing of information from person to person by oral communication, which could be as simple as telling someone the time of day.

Electronic Word of Mouth: Any positive or negative statement made by potential, actual, or former customers about a product or company, which is made available to a multitude of people and institutions via the Internet.

What Men of Letters Say

According to Hong-Youl Ha, Muthaly, and Akamavi (2010), the power of personalized information or consumer reviews lies in its capability to influence the level of satisfaction of the consumers and their intentions for further purchases.

Many scholars such as Armstrong and Hagel (1996), who carried out Electronic WOM researches in the last decade of 20th century, did not differentiate Electronic WOM or Traditional WOM in their studies. At the same time they gave recommendation to the organizations to make use of online meeting places for the betterment of their business other than simple online product advertisements or announcements. Lindgreen and Vanhamme (2005), identified their recommendation as the first known action taken to guide and monitor Electronic WOM communications.

Electronic WOM plays a vital role in the decision making of the consumers while performing product purchase. Description of Online interpersonal influence is initially put forward by scholars such as Senecal and Nantel (2001). They viewed Electronic WOM and Traditional WOM which is offline as parallel to each other. A structure for this trend is proposed by them in their research work which includes narration regarding the categories of online interpersonal interactions.

Research conducted by Fitzsimons and Lehmann (2004) revealed that the reaction of the consumers shall behave negative to Electronic WOM if they are not impressed with the recommendation or product advices given to them by another consumer. Park and Lee (2009 state that negative Electronic WOM has greater effect on the consumers than positive Electronic WOM.  It is found that the manipulated opinions and reviews in Electronic WOM and the administrator’s comments have higher influence on the motivation of consumers to purchase (Xiaofen and Yiling, 2009).  

Findings of Goldenberg et al. (2001) state that decision making process of the consumer is highly influenced by the electronic WOM interactions. In addition, Schindler and Bickart (2001) found greater credibility and relevance on online consumer forums than official websites of the products or services.

An examination of Chevler and Mayzlin (2006) on the effects of testimonials and reviews of consumers on the book sales of Amazon.com stated that Electronic WOM could significantly influence the sales of books. Bickart and Schindler's (2001) argue that the process of information gathering on Electronic WOM platforms does not improve the current knowledge regarding the product but it shall enhance the interest to gather more information regarding the product or service.

Lin, Luarn and Huang (2005), conducted a study on the effect of Electronic WOM on the book purchases found that online reviews have a key role on the book purchasing interests of the consumers. While performing book purchases or searching book related information, the consumers consider online reviews as a reliable source of information. Above studies on the online book reviews and its impact on consumers illustrate that the consumers consider the information gathers from other consumers as trustworthy and their purchase decisions are influenced by them (Lin et al., 2005).

What Market Surveys Say

In keeping with reliable Word of Mouth Market survey results, negative product reviews play a vital role in the decision making procedures. e Commerce customers agree that negative product reviews can change their purchasing decisions while positive reviews can encourage or accelerate purchase process. 

Although one single negative view may not stop the consumer from purchasing a particular product but the number of reviews backing that particular review and number of people agreeing with that negative review may discourage the consumer from purchasing a product.

Not only the success of the product is influenced by the Electronic WOM but also it influences the apparent ethics and values of the consumer. According to Gruen’s (2006) study activities associated with Electronic WOM has very important role the general value of the organization. Additionally their findings recommend that Electronic WOM has a straight connection with reliability objectives, over and above an indirect connection which is pointed out through the general value of the contributions of that organization.

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Why a Marketer not a Salesman!!

'Sell me this pen', Jordan Belfort, the Wolf of Wall Street was handing each of his friends a fountain pen to test their sales skills. All his folks tried to sell the pen explaining its features but Brad, a drug dealer. When he was handed the pen, he asked Jordan, “Write this down for me” to which Jordan replies, “I don’t have a pen” & Brad thus proved he is a salesman.

On the other hand, the marketer is not a manipulator but a communicator who puts forth an offer that meets the buyer's needs right at the place and time of sales opportunity. He is well aware of the fact that no one is actually buying what you sell but they buy the benefits they are going to get from what is sold to them.

5 Big Things that differentiate a Marketer from a Salesman

1) Goal! Goal!!!!: For a marketer the goal is product Positioning, ie to create a distinct impression in the customer's mind; specifically, "the place a product, brand, or group of products occupies in consumers' minds relative to competing offerings".By the way, the Goal of a salesman is..., yes, you guessed it right, its Sales or Revenue.

2) What he thinks: A Marketer thinks about long term strategies that help in branding, communication and sale. While a salesman is least bothered about long term strategies but he comes up with short term strategies a.k.a tactics to make the sale. eg: Brad of 'the wolf of Wall Street'.

3) Knowledge base: For a Salesman, Experience and Social network are most important to achieve his goal of sales execution. Whereas a marketer must know various techniques including advertising, web analytics, database marketing, social engineering, CRM, statistics, reporting etc.

4) Observers: Customers are the primary audience for a Salesman. A Marketer not only have to be anxious about the customers but also the interest of investors and the management of public relations.

5) Standpoint: A marketer's focus is on the brand while a Salesman always puts the customer first.

A good Salesman & a good marketer keep a mutually beneficial relationship all the time, where the marketer adds value to the sales process and the salesman forwards the customer feedback to the marketer.

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By the way, why Marketing is occasionally called as Sales?

The wrong choice of words occurs in our communication mostly because we thought or we are told that the misused word has same meaning of the word which we actually wanted to use :)

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