Business Development

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Three steps that are often applied by the world class companies. The first step is product leadership oriented (product advantage). Companies that include in this category are always trying to create products with premium quality, and always one step ahead than its competitors. They do not hesitate to spend large funds for its R & D department to create amazing products.

Intel, which is known for its Pentium series probably become the most perfect example for this category. The second step is operational excellence oriented (operational excellence). For companies in this category, the most important is to build a super efficient business processes. Hoping that with this efficiency process, they are able to reduce production costs, and finally they will be able to sell their products with competitive prices.

The last step is customer intimacy oriented (intimacy with the customer). For companies in this category, the most important thing is to build an intimate relationship with its customers; hoping that it can create long lasting relationships. Many companies are adopting this step especially that involved in hotel management and flight management in order to build loyalty among their customer.

Of course, there are many companies are also combining different steps, and not just focused on one step only.

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Tags: Business Tips . This entry was posted on Tuesday, August 24th, 2010 at 6:53 pm and is filed under Business Tip. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.