Skip to main content

Develop Business Goals and Achieve Business Success - Brian Tracy

Business Goals-Business Success- Management Success The strategic business unit (SBU) concept has revolutionized many multiproduct or multiservice businesses. It is a way of thinking that is absolutely vital to business success. It was first developed by the Boston Consulting Group and then used by many Fortune 1000 companies to transform their organizations into more efficient and vastly more profitable companies.


Business Success Within the Business


Each unit is then managed as a separate business, with its own management structure , strategic plan, business goals, sales and revenue targets, levels of profitability, and key roles and responsibilities of the people within the unit.


FREE FINANCIAL REPORT: The Way to Wealth


The starting point of implementing the SBU method is to make someone specifically responsible for the operations and the results of the unit. A competent person is put completely in charge of attaining a certain level of profitability and achieving set business goals exactly as if he or she were being made president of a separate business.


Basic Business Planning


To make the SBU approach work, you begin by drawing up a complete business plan for each unit. Each product or service within the unit must also have a complete business plan that includes estimated sales revenues, costs, profitability, and business goals. You then proceed to determine the exact people and resources that will be necessary to achieve the business goals of this SBU.


Make Someone Responsible: Management Structure


The primary reason that a product or service succeeds is that a competent person is completely responsible for it and is totally committed to its success.


A major reason for the failure of any product or service is that the responsibility for its success or failure is spread among several people, and no one is accountable. No person has a meaningful stake in the outcome.


The Cash Cow


The cash cow is defined as an established product or service that sells well and is a net contributor of cash to the business. It is not growing in sales and profitability nor is it declining. It is a mainstay of the company. It is a key to the company’s success. At one time it may have been the main product or service of the company, but now it is simply a dependable source of revenue.


Your strategy with your cash cow is to devote sufficient resources and people to them so that their ability to contribute sales and your business success extends as long as possible.


Dogs Drag You Down


An essential part of the SBU business plan is to not let the “dog” drag you down. The dog is a product or service that loses money and has no future in the marketplace of today or tomorrow. It seemed like a good idea at the time it was introduced. Sometimes a good deal of emotional investment and capital has been put into this product or service, but it is clear to almost everyone that it has no future.


Thank you for reading this article about management structure and business success. Please share and comment below!



Topics included in this article include


Management Structure


Business Success


Business Goals








via Brian Tracy's Blog http://feedproxy.google.com/~r/BrianTracysBlog/~3/kQzjq0zzj_U/
Labels:

Comments

Post a Comment

Popular posts from this blog

lynda - Jane Wurwand, Founder of Dermalogica, this week on Glambition Radio

Jane Wurwand is not only the founder of the #1 brand of skin care in the world, but she’s also changing women’s lives on a global level . I’m thrilled to have her as my guest on today’s episode of Glambition Radio . Jane (originally from the UK) and her husband launched their business back in 1983 in Marina del Rey, CA with $14,000, no bank loans and no investors. Today, Dermalogica boasts sales of more than $250,000 million a year and is sold in 86 countries around the world! It’s a true rags-to-riches story, and she tells all in our interview . What many people may not know about Jane is that she is also fighting to empower women all over the world. She founded FITE , Financial Independence Through Entrepreneurship, which invests in local grassroots initiatives to help women and girls become leaders . To date, her FITE program has helped fund more than 40,000 loans for women to start or grow businesses in over 65 countries! (Visit JoinFITE.org to see how you can get involved.) O
Post a Comment
Read more

SMART Goals 101: Goal Setting Examples, Templates, and Tips - Brian Tracy

I think you’ll agree with me when I say: We’ve all heard that SMART goals are important . But a lot of people are left with questions about them, for example: What exactly are they? How do we use them correctly? Are they really contributing to your success? Here’s the deal: When it comes to achieving success, one of the most important steps that you can take is setting good goals. It is also important to recognize, though, that not all goals are created equal. In this article, we’ll take a look at a special class of goals called SMART goals and how you can use them to heighten your chances of success. FREE SUCCESS TOOL: Brian Tracy’s 14-Step-Goal-Setting Guide What is a Goal? A goal can be any objective that you set for yourself and push yourself to achieve. Sometimes that goal may be small (like waking up an hour earlier than you normally do) and sometimes it may be larger (like earning a promotion). But here’s the kicker: While having goals of all kinds is almost
Post a Comment
Read more

bosanchez - The Bias of Fathers

One day, I was at a Christmas party. And parents were forcing their small kids to sing, bribing them with lollipops to banana splits to doll houses to Boracay vacations. One father — a friend of mine whose name I won’t divulge as it would be hazardous to my health — brought his little five-year-old daughter to the front. Because he even had a Minus One prepared, we thought, “She must really be a good singer.” So everyone clapped their hands and cheered as the music started. Then the five-year-old began to sing. Or at least made some kind of sharp noise.  But she didn’t get one key right. The cute little girl was absolutely tone deaf. From beginning to end, she sounded so awful, the experience was similar to having an endoscopy without the anesthesia. But the father was right beside me, still taking photos, still smiling from ear to ear, his eyes glued to his little daughter. He looked at me and smiled, “She may not sound right, but can you see how lovely she sways her hips?” Th
Post a Comment
Read more