For My Business Warehouse, managing a productive network effectively means integrating the high tech of a secure data base system with the high touch of proven players from pertinent fields. The matrix created by the cross referencing appropriate verticals will create an ongoing synergy that can be captured and employed at high levels of sustainable effectiveness.
Managers of a Virtual Network that supplies sustainable “value” to its Membership must have a clear definition of the needs of all the parties involved in the supplying and receiving of the value.
Definition: “Value is how much a desired object or condition is worth relative to other objects or conditions. Economic and Social values are expressed as "how much" of one desirable condition or commodity will, or would be given up in exchange for some other desired condition or commodity.”
Among the competing schools of social and economic theory there are differing metrics for value assessment. No environment is more capable of capturing, assessing and successfully employing such information than an integrated virtual network.
Today, managers need to concentrate on how their initiative creates value in both the physical and virtual world. However, the methods for creating value are different in these worlds. By careful interpretation of the differences and interactions among the value adding events of the physical and virtual worlds, managers can more clearly visualize the strategic issues facing the mission. To properly use the information, that is to create value from it, managers must engage the marketspace. Although the value chain or the marketspace is similar to that of the marketplace, there is an increased dynamic involved.
The processes for transferring raw information to products and services are unique to the information world. Strategic or institutional management is the conduct of drafting, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives. It is the process of specifying the vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs.
Maximizing the virtual network provides a scoreboard as a tool for measuring whether the smaller-scale operational activities are aligned with its larger-scale objectives in terms of vision and strategy.
By focusing not only on financial outcomes but also on the operational, marketing and developmental inputs to these, the network helps provide a more comprehensive view of an operation, which in turn helps organizations act in their best long-term interests. This tool is also being used to address response to climate change and greenhouse gas emissions.
Management is encouraged to measure, in addition to financial outputs, those factors which influenced the financial outputs. For example, process performance, market share / penetration, long term learning and skills development, and so on.
The underlying rationale is that organizations cannot directly influence financial outcomes, as these are "lag" measures, and that the use of financial measures alone to inform the strategic control of the firm is unwise. Organizations should instead also measure those areas where direct management intervention is possible. In so doing, the system helps organizations achieve a degree of "balance" in selection of performance measures. Managers are encouraged to select measures from three additional categories or perspectives: "Customer," "Internal Business Processes" and "Learning and Growth."
Strategic management is a level of managerial activity that provides overall direction to the enterprise. In the field administration it is useful to talk about "strategic alignment" between the organization and its environment or "strategic consistency".
“Strategic management is an ongoing process that evaluates and controls projects and the entities involved; assesses and reassesses each strategy to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment, or a new social, financial, or political environment.” (Lamb, 1984)
There are four types of people or entities that operate inside networks:
- Isolated: Those who engage infrequently, if at all
- Average: Those who engage with average frequency to a moderately
- Bridge: Those who engage with the same amount as others, but have key relationships with others from a variety of groups
- Star: Those who engage and maintain relationships with a significantly greater number than the average
There are going to be people who are more active in virtual networks just as they would be offline. These roles can have significance value on one’s mission.
It’s about the strength of your network, not necessarily the size:
- There’s one variable that predicts relationship quality with more power than any other: frequency of contact.
- The more people you care for, the harder it becomes to care. We don’t have relationships, we grow relationships. Cultivate the ones that really matter.
- You only have so much time, and there are only so many people with whom you can share that time. So spend your time on the relationships that matter.
There’s power in the “weak tie:”
- If you’ve cultivated the right relationships, you’ll benefit from their networks.
- If you’re cultivating the relationships that really matter, those are the people who have the right amount of influence and credibility to connect you to their networks—thus, you’re establishing powerful “weak ties” without even knowing.
We flock to networks because they’re powerful—they connect us quickly to trusted sources of information. And we like online networks because they’re fast and they’re easy. Informal Networks are often the most trusted source of information.
Prime Source Initiative, the supply chain management and sourcing center, vets projects and people while adding support to project managers. The value supply chain requires a comparison of all the skills and resources the projects use to perform each activity so as to synergize best of breed vendors for maximum value.
The products and services businesses supply to the market need to conform to a channel that fits the customer’s needs. Therefore this channel controls the strategy of the business. The channel comprises different events, and each of these events should be in accordance to the overall strategy of the business.
In the virtual value supply chain, information has become a dynamic element in the formation of a business’ competitive advantage. The information collected is utilized to generate innovative concepts and ‘new knowledge’. This translates to sustainable new value for the end benefactor. An examination of the model informs the business to what function they have in the chain, and if they are not currently offering services that are information based (i.e. Internet services), how they can make the transition to the information based model.
In the virtual value chain the ‘virtual’ indicates that the value adding steps are performed with information. The transfer of information between all events and among all members is a fundamental component in using this model. The creation of knowledge/added value involves a series of five events: gathering, organization, selection, synthesization, and distribution of information. The completion of these five events, allows organizations generate new markets and new relationships within existing markets. The process of an operation refining raw material into something of value and the sequence of events involved is similar to that of collecting information and adding value through its cycle of events.
The Financial Center is a listing of entities that the network engages to help support a project’s fiscal needs while safeguarding and auditing transactions. Each has its own proven track record and relationships that may be useful.
- Equity partnership groups,
- Paymaster services,
- Credit and debit / payroll cards,
- Accounting and
- other banking services can be sourced here.
Your Business Warehouse is the transactional hub for the data base system’s Vendor’s and Contractor’s storefronts.
It supports the shopping cart in the “Virtual Enterprise Zone” (VEZ)
- Invoice and collection center for B2B and B2C acquisitions
- Billings via merchant processing
- Payroll card transactions,
- Commodities distributions,
- In bank transfers and
- Bank to bank transfers.
Mission, Goals, and Strategies: A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in the market arena. As the customer constitutes the source of a company's revenue, marketing strategy is closely linked with sales a key component of marketing strategy is often to keep marketing in line with a company's overarching mission.
A formal approach to this customer-focused marketing mix is:
1) It is necessary to place emphases on the organization of the companies;
2) It is necessary to execute marketing plans inline with the project objectives;
3) It is necessary to tackle the internal communication related problems like corporate communication or corporate identity system(CIS).
In times of economics downturn, companies or corporations produce the convenient “commodities” for the consumers or citizens with the consideration of the total marketing “cost”, and first of all gain their consents through the sufficient “communications” and then their confidences by selecting the effective “channels” in conjunction with the uncontrollable external circumstances. This is the way to survive in the period of low growth economics.
Consumers are those people encircling the projects. They are the ordinary citizens nurtured by the motto of the consumerism. However of course they are also including the customers and the potential customers.
- Needs: companies can offer more alternatives to meet the various needs of the consumers.
- Wants: the substantiated needs to expect the accordingly commodities.
- Security: the safety of the commodities, the safety of the production process and the adequate after-sell warranty.
- Education: consumer right to know the information of the commodities.
Often there are uncontrollable external factors encircling projects.
- National and International Circumstances - The environment related to politic and law becomes important.
- Weather - For most of the natural disasters, the companies can do little but try to predict when they will happen and adjust the marketing plans.
- Social and Cultural Circumstances - When exploring a new oversea market, it is essential to study the social circumstances of that nation.
- Economic Circumstances: Economic climate is changing due to many other uncontrollable factors like energy, resources, international income and expense, financial circumstances and economic growth etc.
In today’s global market it’s not enough to just produce and sell good products and services, companies have to make a difference in the community they serve. The Hope Collection researches the marketplace to find humanitarian efforts from around the world, works to channel resources to support the work and shares the “Good News”!
In addition to the above, there are many additional specialists and consultants in the Membership that can be accessed in the Network.