Today's Issue
- Editor's Take: A Big Bang for the New Year
- Article: Has Your Product Outlived Itself?
- SME News: Food exporters seek relief from strong peso
- Tax Calendar
Article
Has Your Product Outlived Itself?
Every so often, you will reminisce about a product name that
you may
have used for the longest time and basically grew up with. Perhaps it
was a food or beverage brand, health supplement, fashion brand,
restaurant, vacation place and so on. It was a good product name, as
you would say, and it was part of your lifestyle.
So what happened to those brands? A little research will tell you that
some of them may have already disappeared from the market, or has
remained strogly entrenched to this very day. Those that are no longer
there may have been replaced with a challenger brand or have fallen
victim to obsolescence given the radical shifts in the marketplace.
Those that are still around are called legacy brands. These are brand
names that continue to be visible for more than 50 years. Who could
forget Chocnut, Max's, Aristocrat, Savory, Little Quiapo, United
American Tiki-Tiki, Magnolia or Manila Hotel?
To read more, click here!
Photo Courtesy of Shutterstock photo/Andres Rodriguez; SME Community Philippines Vol. 2 No. 3 2007
SME NEWS
The Philippine Food Processors and Exporters (Philfoodex) discloses that food exporters are already making shipments at a loss just to keep their buyers from ordering from other suppliers.
“We cannot sustain [this] without any relief,” said Philfoodex president Roberto Amores in a statement.
Photo Courtesy of Shutterstock photo/Stephen Coburn; SME Community Philippines Vol. 2 No. 3 2007
Tax Calendar
January 02 - Last day of
BIR Form 1702Q - ITR by taxpayers on FY accounting period for TQ ended October 2007
e-Submission of summary list of sales/purchases by VAT-registered taxpayers (eFPS) for TQ ended November 2007
Submission of inventory list for FY ended November 2007
Editor's Take
2008
is the Year of the Rat, according to the Lunar Calendar observed in
China, Japan and Vietnam. While the Rat is dreaded as the bringer of
plague and famine in the West, this animal is revered in the East as a
symbol of leadership, pioneer spirit and conquest.
According to Eastern tradition, those born in the Years of the Rat are believed to possess the traits of charm, passion, practicality and industry. The list of famous people who were born in the Year of the Rat include actors Gwyneth Paltrow, Ben Affleck and Samuel L. Jackson, the great playwright William Shakespeare, and the immortal composer Mozart.
While we do not seek answers from oracles, we can venture that 2008 will indeed pose as a Year of Great Challenge for Small and Medium Entrepreneurs. It will be a year of filled with some difficulty yet also rich with opportunities for wealth and advancement.
In order to steer the business along the path to success, SME owners and marketers are advised to further hone their leadership qualities in the Year of the Rat.
In this issue of BizLink, we draw on the experience of globally successful enterprises for the three positive traits an entrepreneur should have.
First, develop ‘in-touch capabilities’. In a Fortune magazine article, Procter & Gamble’s Richard Antoine says his company’s success is the result of hiring people who have the social intelligence needed to understand the consumers’ needs. In the Year of the Rat, the winning entrepreneur is one who is best able to discern patterns amid the backscatter of market noise.
Second, stay on top of your business; you have people under your wings. Nokia, which ranks third in among the global companies worldwide rejects the concept of stars. The company focuses on ‘leadership’ rather than ‘leaders’. Nokia places more value on team consensus in the company decision-making process. Learn from the humble Rat. As an entrepreneur, you can’t do it all or know it all by yourself. Pay attention to your team, which could include a mix of family members, your banker, accountant, peer group, line workers, suppliers, and of course, customers.
Third, learn to inspire. Inspiration is a method the top global corporations employ to their greater success. That’s what makes the Disney team such a standout. Need we mention their mascot happens to be a mouse? Rather than focus on bossing employees and customers around, global companies choose to empower people and increase productivity and purchases through programs that boost morale and promote a shared identity. Inspiring people is a most effective way of achieving a common goal.
Wishing All a Happy and Prosperous New Year!
P.S. Photo Courtesy of: www.pinoyblogmachine.com
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