Starting your own business and the journey of
becoming a successful Entrepreneur, involves
a lot of expertise as well as being updated with the current developments in
the business industry. No one wants to restrict his business only to few cities
or countries. All aspiring entrepreneurs have the urge to make their business global.
The thought is great but path to achieve this is not at all a straight road. It
has lots of bumps and hurdles. Here is the reason why you need to get the
exposure to best global practices being applied worldwide.
(picture of global business)
The iFEEL’s Entrepreneurship
Excellence Program is designed to make you familiar with the global
practices adopted around the globe. In this program you learn how to become
global Entrepreneurs overcoming all the challenges in way. You get the inputs
of experts from different industry backgrounds hence your knowledge gets diversified.
Program includes Case Study from Harvard Business Review and other business
schools which covers Business situation of Fortune 500 companies in the world.
To give you a better perspective of global
practices, this program organizes international Industrial Tours of 8-10 days to
china, Japan, Germany, Singapore, Sweden. These tours are organized to help you
understand global business, culture and people. iFEEL provides its entire
students one international study tour to give them good international exposure
experience.
The benefit of such International Industrial Tours
are:
v Knowledge
of the global culture: did you know that culture can play a
significant role in your journey of Entrepreneurship?
Yes it indeed does have an impact on your business success. Imagine yourself
meeting client from china. If you won’t understand their gestures then your
deal is surely cancelled. My point here is that when you are in business
especially when you want to expand it globally, then you need to have a
thorough knowledge of business etiquettes as well as the cultures of all countries.
You never know who your next client would be!
The Following are some of the
Global practices which we are talking about.
v Kaizen: This
is a Japanese word which means ‘Change for Better’. It refers to the activities
done to continually improve all Functions and involves all the Employees of the
organization right from the CEO to the line of Assembly workers. With the
application of this business practice, you will grow your own business to a higher tangent.
v LIFO (Last
in First out): This business
practice is rare but yet very helpful for sellers of Homogenous commodity
products such as bricks, sand, stone etc who take huge piles of them. This
makes the oldest batch of product to sit at bottom for much longer durations
than newer ones. Companies like vending machine operators choose this because
the first product they put in the machine is sold out last.
v FIFO (First
in first out): this business
practice implies that the products purchased first are sold out first.
Companies selling perishable goods like food, which expire after a certain time
limit apply this practice. Even companies that sell products that have
relatively short demand cycles such as designer fashion clothing apply this to
ensure they are not stuck with outdated styles.
v Just in time: this
practice is used to increase efficiency and decrease waste by receiving only
that much amount of products which match the estimates of demand by the
production team. The products arrive just in time which reduces inventory costs.
Best example here is of car manufacturing companies. They bring in parts only
when it is demanded. This practice is a shift from just in case (where lump sum
goods were purchased in case the demand goes high).this practice is very
helpful to develop new businesses.
v SIX SIGMA: This
is a business quality improvement method that enables organization to
streamline production by reducing the number of defects that impact customers
and increase costs. This practice has its roots in manufacturing industry but
now finance, banking, healthcare & government industries have also adopted
this.DMAIC(define, measure, analyze, improve & control) is at the core of
six sigma
iFEEL’s uniquely
designed Entrepreneurship Excellence Program is completely Entrepreneur
oriented. You get all of the above advantages & knowledge in the best
package in this program. Opportunity knocks on your door once….grab it now!Click here for more inquiry
