360 Degree ReviewA 360-degree review is a communicative forum that enables the staff and the management to provide feedback on the performance of colleagues on a professional basis. This tool is quite strategic as it gathers useful insights that could be applied in executive decision making and also aid in improving individual growth for the benefit of the organisation.
Average Sale ValueAverage sale price is the generalised numerical worth of a particular type of product or service within the market. This value is determined by factors such as the type of product, its classification, life cycle, and distribution channels. Businesses looking to release a new product use the average sale value as a basis of determining their selling price.
Board MembersThe board members entail a group of individuals with the power to influence company decisions based on their shareholder’s interests. Board members are selected by the organisation’s shareholders to perform the function of ensuring their shareholder’s interests are met by the company’s executives. These interests may include corporate activities such as evaluation of management performance, declaring dividends, facilitating organisational acquisitions and selling, determining executive compensation packages, and so on.
BreakevenBreakeven is a point in the production process whereby the production cost is equal to the income gained from the product. Therefore at this point, the market price of the product in question is similar to its original cost. The breakeven point is quite significant in influencing investment decisions.
BudgetsA budget entails a detailed approximation of the revenue and expenditure within a particular organisation over an anticipated time in the future. Budgets facilitate responsible spending and allow for saving of monetary resources.
Business CoachingBusiness coaching is a structured process that entails conversation and training to help clients achieve their business goals. This is done by altering their behaviour and attitudes to suit their respective market and meet their commercial objectives. Business coaching is a significant process in enabling a business person to understand their role in enabling business success.
Business ConsultingBusiness consulting is a simple but significant process of business advice rendered from an expert’s perspective to an individual or group of people in the business. Expert advice is crucial for commercial growth for an already established as well as a starting up business considering that industry transformation and rise in the competition are constant factors in business.
Business RestructureA business restructure is a strategic procedure carried out by companies that aim to significantly alter their operating structures such as financial operations, and general company functions. This tactical measure is usually taken at opportune moments when an organisation is either anticipating bad times ahead such as financial constraints or a buyout or good times such as a merger, or repossession.
Business ValuationA business valuation entails the systematic process applied to examine the economic value of a particular organisation. This concept is utilised by executives and business owners to determine a company’s fair value to influence corporate standpoints such as sale value, partner ownership agreements, and taxation among others.
CAPEXCAPEX which stands for capital expenditure entails the expenses used to facilitate and maintain a company’s investment projects. CAPEX financially covers aspects such as company upgrades, technology advancements, physical assets such as properties and buildings, and research advancement among other developmental concepts. If properly utilised CAPEX can help a business gain exponential growth and a great competitive advantage.
Cash flowThe cash flow of business pertains to the total amount of cash or resources equivalent to cash that moves into and out of the business within the general functioning of the company. A growing business aims to enable positive cash flow.
Cashflow forecastA cash flow forecast implies an anticipated amount of cash or the equivalent of it to be received or given out of a particular business within a given period. It entails the anticipated income and expenditure of a business that is strategically applied to ensure the proper management of a business’s finances. That, therefore, guarantees that the company constantly has funding to facilitate its operation.
CEO CoachingCEO coaching is a learning process that involves the forming of a professional relationship between a coach and a client. The client who is in the CEO position of a company is inspired to improve their performance by developing personal and professional proficiencies that make them better CEOs. The coach can monitor and assess their client’s learning and application of the acquired skills through CEO coaching procedure.
CommunicationCommunication is a simple process of imparting information between two or more entities. Within an organisation, communication is a basic tool. That is because it enables the sharing of progressive information, ideas, and instructions that are used in facilitating the basic running of the organisation and general practice of the workforce in the most efficient and error evasive way.
Conflict ManagementConflict management is a leadership quality that enables an individual to recognise conflict and take the necessary measures rationally, and impartially. The aim is to deal with the situation to come up with a relevant solution. Conflict is a commonly experienced phenomenon in any work environment, however, with properly executed conflict management protocols, conflict cannot hinder productivity.
CultureCulture is a fundamental aspect of any corporate setting. That is given that it entails the beliefs and behaviours that influence how the workforce and the leaders of a particular organisation interact with each other and conduct their business. This is a factor that is developed over time and has a significant impact in forming the foundation of a business as well as its rate of success.
Customer Lifetime ValueCustomer lifetime value is a metric system that accounts for the value a customer brings to a particular business during the entire period as a client to the business. Understanding a company’s customer lifetime value enables the company’s management to make strategic decisions in areas such as product marketing, sales, product development, and even clientele reinforcement.
DiversityDiversity entails a workforce that accommodates individuals from different demographics including, gender, race, age, education, social status, religion, sexual orientation, and ethnicity just to name a few. An organisation that utilises a diversified workforce enjoys various benefits. That includes increased innovativeness, a wider talent group, improved productivity, unique perspectives, and the overall growth of the organisation.
EfficiencyEfficiency is about the utilisation of the available resources in the best possible means to facilitate maximum outputs and minimised inputs. A business's efficiency is determined by its ability to earn revenue using the least possible cost which is the source of competitive advantage sought after by most organisations.
Emotional IntelligenceEmotional intelligence entails an individual’s capacity to comprehend and control their own emotions as well as those of the individuals around them. High emotional intelligence involves the ability to interpret one’s feelings and the impact of these feelings to those around them. This is an important personal skill especially for a leader within an organisational setting to ensure proper professional interaction and general productivity.
Executive CoachingExecutive coaching is a procedure designed to improve an individual’s role within an executive position. With the aid of an executive coach, a manager or Senior Vice President is trained to develop professionally and personally, to gain proper skills. This includes communication skills, assertiveness, conflict resolution, which are essential for the achievement of corporate ambitions.
ExpensesFor an organisation to carry out its basic functions in a bid to gain revenue and grow in business it needs to incur costs, this is what is referred to as the expenses. An expense would range from paying of suppliers, employee salaries, distribution channels, equipment used just to mention a few.
FinanceFor an organisation to conduct its basic function and ultimately achieve the goals it needs to be financed. That is the funding that facilitates the organisation's basic activities such as procurement, investing, distribution, and so on. This funding is provided by financial institutions such as banks and insurance companies as well as the company’s resources and profits.
Financial RatioA financial ratio involves a comparative spectrum based on the statistical data acquired from the financial statements of a given company. Company executives, investors, and major stakeholders of the company utilise the financial ratio to evaluate the general financial standing of the company. This helps to influence major corporate decisions that may affect the company’s growth and overall success.
IntrapreneurshipIntrapreneurship is an empowerment scheme that gives employees the ability to take entrepreneurial action within the business organisation. It is quite effective in enabling a proactive workforce that is self-motivated and creative in a bid to achieve the organisation’s goals.
KaizenKaizen is a business philosophy that originates from Japan, traditionally meaning “change for the better” in a progressive manner. At Kaizen Consulting Group, we apply this philosophy in helping our clients grow their businesses through personalised coaching.
Key Performance IndicatorsA key performance indicator entails a quantifiable figure that expresses a business’s effectiveness in achieving its intended objectives. Organisations use this measuring tool to determine how various levels of the business are faring in terms of the overall success of the business.
Leadership CoachingLeadership coaching is a systemic relationship created between a coach and an individual in a leadership position. It is designed to aid the client to develop personal and professional skills that would make them effective leaders. This process helps leaders understand their responsibilities in achieving business goals as well as the right ways on how to go about these responsibilities.
Lead GenerationA lead is a potential client who has expressed a specific interest in the product or service offered by a particular business, which is expressed through granting the business their contact information. Lead generation is therefore the strategic implementation of a business’s resources to attract and maintain these leads. Leads are quite important since they hold the potential of creating a profitable client business relationship that enables growth and stability in terms of sales.
Marketing PlanEvery organisation needs a strategic advertising plot that will enable them to access a target market and promote their product or service, which is referred to as the marketing plan. Marketing plan is a document that strategically details aspects such as the target market, the proposed value of the product being promoted. It also entails the structure of the campaign and a practical metric system that will be used to assess the progress of the campaign.
MissionMission is a powerful statement that outlines the basic principles of an organisation such as its reason for being, its target clientele, and how the organisation aims to serve this clientele. Understanding the purpose of the organisation is crucial for the staff and management of the organisation since it guides their day to day activities towards the organisation’s development.
NicheWithin the broad industry of any business endeavor, there is a targetable faction for specialised products with low or no competition, this faction is referred to as niche. Identifying and exploiting a niche within an extensive business industry has a great commercial advantage since it fosters substantial profits and customer loyalty.
OPEXThe OPEX which is an acronym for operating expenses is the general expenditure incurred by an operating business in facilitating its general functions. This includes rent, payment for equipment used, insurance cost, marketing expenses, inventory fees, and so on. A successful business operates on a relatively low OPEX while still maintaining a competitive advantage.
Outbound MarketingOutbound marketing is a strategic marketing tool that entails various techniques applied to target a given market. These techniques include but are not limited to media advertising, cold emailing, digital advertising, cold calling, trade shows, and content syndication. Outbound marketing aims to reach a target spectrum of potential clientele and convince them why they need the product on sale to promote sales.
Operation ManagementOperation management entails the general implementation of the most efficient business practices to enable maximum productivity within an organisation. The main goal here is to minimise cost and maximise revenue in the conversion of physical labor and intellectual labor to sellable goods and services.
Operational KPIAn operational KPI which stands for key performance indicator involves a measurable value of a business’s performance within a specified time frame. Operational KPI aids organisations to track departmental processes such as sales and marketing. Use this information to determine their progress based on the organisation’s objectives and establish a working strategy to improve its operation and gain a competitive edge.
Operational ExcellenceOperational excellence forms the basis of an organisation’s ultimate goal. That is the ability of the organisation to execute business strategies, at the lowest operational risks, lowered operational costs, and highest revenue earnings when compared to the competition. This is achieved through continuous improvement of the organisation and its operational functions which would entail the application of methodologies such as Kaizen.
Performance AppraisalA performance appraisal is a standard occasional procedure, whereby an employee’s execution of their duties in tandem with the organisation’s mission, vision, and values as well as objectives is examined. It is a structured feedback process that informs the company’s executives of an employee’s achievements, skill application, and growth over a given period of service.
Performance ManagementPerformance management is a continuous strategic process that aims to improve the organisation as well as individual function through goal setting, strategic planning, and regular evaluation of progress. This is done through the stipulation of the workforce’s and the organisation’s goals or objectives within a given period. Then there is selecting a strategic plan to go about the execution of these goals and assessing their achievement after the designated time frame.
PlanningPlanning is about a predetermined schedule on how to execute certain organisational functions in a bid to achieve the organisation’s objectives. This includes the, when, how, and who aspects of the execution of these functions. This is a key managerial instrument as it determines the course of action that guides the workforce and thus should be well structured and intellectually developed.
Pricing strategyThe pricing strategy is a tactical procedure that a company applies to price the products or services rendered. The pricing strategy uses a systematic structure. That involves accounting for production aspects such as labor, advertising, and other expenses, to ensure that profit is gained upon the sale of their product.
Process ManagementProcess management entails the systematic procedure in which a company evaluates fundamental departmental processes and manages them from an individual as well as collective approach. The goal of this procedure is to enable the identification and implementation of necessary modification areas within the departmental processes to make the organisation generally more efficient.
Profit and LossProfit and loss are two interconnected terms that express a fiscal summary of an organisation’s ability to generate income through revenue expansion and cost reduction. It involves the company’s operational costs and expenses alongside the earned revenue within a specified period. The goal for any successful business is to have a higher profit than loss through higher revenue earned compared to the cost incurred.
Quarterly PlanningQuarterly planning breaks down the long term strategy of an organisation to the quarter of every annual period of business operation. It schedules the organisation’s operations beforehand to assist in the achievement of short term goals. That ultimately culminates in the long term goals of the organisation’s growth and success.
Repeat TransactionsCustomers from time to time tend to replenish the products that they had bought initially or retake the services previously rendered and this is what a repeat transaction is all about. This concept is a classic example of brand loyalty as it indicates that a client is satisfied with the service or product offered and would, therefore, want to obtain them again.
Sales ProcessThe step by step procedure taken by a salesperson in attracting, convincing, and ultimately closing a sale on a prospective buyer is a sales process. This procedure should be structured and is usually repeatable since it is based on market research and has thus been proven to have an efficiency rate that is at least above sixty percent.
Sales TrainingA sales training procedure involves a methodological impartation of specific skills that would enhance an individual’s knowledge, experience, and ability to make them efficient sales personnel. This training is fundamental in enabling a productive sales workforce and can be referred to as a worthy investment since sales are key to an organisation's productivity and growth.
ScaleTo accelerate particular growth within a company there needs to be a pre-set foundation that supports this growth without any external or internal hindrances. This foundation is facilitated by a strategic plan, proper financing of the project, setting up the most appropriate systems, proper timing, applying relevant technology, and seeking out convenient partnerships. This is what a scale is all about.
StakeholdersA stakeholder is an entity that is either an individual or group that has a vested interest in an organisation. They can therefore influence or be affected by the company’s activities and outcomes. That includes fundamental entities such as the employee, and clientele to major entities such as the suppliers, investors, shareholders, company executives, and even the government.
Succession PlanningSuccession planning is a tactical replacement process that involves the passing on of leadership or ownership of a company. This process aims to ensure that the company continues with its growth and the attainment of its objectives even after the preceding leader is gone. To achieve this the individual to succeed the retiring leader is strategically selected and systematically trained to take over.
SWATSWAT is an analytic tool applied by business personnel to gain perspective on the aspects of a business’s strengths, weaknesses, market opportunities, and possible threats. The application of this means of analysis enables entrepreneurs and businesses to develop robust business strategies. That would be based on an informed examination of the market and the business’s potential.
Team ManagementFor a team to function effectively there needs to be coherence and understanding, thus enabling productivity and organisational growth. Team management formulates a set of activities that enable the growth of the team through proper role allocation, prioritisation, and convenient collaboration.
TeamworkTeamwork is primarily the understanding and acceptance of a group of individuals to work collaboratively to achieve a common goal. The success of this concept is majorly determined by the value of leadership in terms of aspects such as role allocation and proper skill matching as well as the willingness of the group to work together.
USPUSP is the acronym for unique selling proposition which stands for the standout factor of a business. This is the quality that answers the question, “what makes this business better than the competition?” It forms the core of the business and helps to influence key decision making, branding, marketing strategy as well as customer and investor attraction.
ValuesValues form the central force of a business as they entail the principles and beliefs that drive the business’s workforce. They comprise the philosophy of the business which includes organisational behaviour, personal principles within the organisation, and the beliefs and attitudes shared among the staff and management. Values are the motivational factors for every individual within the organisation.
VisionVision involves the anticipated image of an organisation in the future in terms of the business’s targets and objectives. This is an essential feature for any successful business as it helps to guide the path of the business and its workforce towards goal achievement.
WorkshopsA workshop is an interactive forum designed to allow different entities to address extensively a given issue that affects the involved parties. The participants involved may include business executives, clients, researchers, and shareholders among other stakeholders, who will share insights and learn from each other under the guidance of an expert facilitator as they try to develop viable solutions to the particular issue of concern. Problem-solving, research, brainstorming, and communication are key elements for a productive workshop.