24May

Payday loans aren’t more demanding at all

FILED IN personal finances | profit | real estate | shares | stocks Comments Off

151It’s not news that technology and information are increasing at an exponential rate. Many businesses are hard pressed to keep up with the breakneck pace of change. At the same time, people’s expectations of products, services, and even relationships are changing. Consumers are more demanding and sophisticated than ever. They want it all. And if they can’t get satisfaction from one source, they’ll go elsewhere. Businesses and the people running them are struggling to figure out how to meet rising expectations at a time when demands seem to outpace the ability to change.

Whether in our personal life or in business, most of us eventually turn to partnership to help us achieve our goals.Aren’t two heads better than one? There’s a word that describes the potentially dynamic force created in a partnership: synergy. The best definition of synergy I’ve heard is in the form of a mathematical equation: 1 + 1 > 2. This is the essence of synergy. It is two (or more) people or organizations working together to do more than one of them can do alone—even after summing up their individual achievements. In nature the concept of synergy is embodied in procreation. One person alone cannot create another human being. Two different people together, however, can create something each could never do separately. The result, a new life, is certainly more than the sum of the parts. Moreover, it is created without taking away from the continued success of each contributor.

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20Oct

How great companies deal with credit – the cola wars

FILED IN banking | credit advice | crisis | debt | foreclosure | insurance | investments | loans guide Comments Off

In 1975, Pepsi directly targeted its long-term competitor, Coca-Cola, with the “Pepsi Challenge”, claiming that in taste tests people preferred Pepsi. After Coca-Cola conducted its own tests rumours spread that Coke did indeed have a taste problem.

In public, Coca-Cola appeared unconcerned. But senior executives knew that they could not afford to ignore Pepsi’s latest marketing offensive, given that Coke’s market share had fallen substantially in the face of competition from Pepsi and from new beverages such as diet drinks, citrus flavours and caffeine-free colas. Indeed, Coca-Cola, realising that tastes were changing and competition was getting tougher, was itself marketing many of these new products. However, Coca-Cola’s taste problem was a serious issue for a core product, and Coke’s shrinking lead in the cola market convinced senior executives of the need to act. In the New York Times, Brian Dyson, head of Coca-Cola USA, commented:  There is a danger when a company is doing as well as we are … to think that we can do no wrong. I keep telling the organisation, we can do wrong and we can do wrong big.

During December 1984 the company decided to proceed with a new formula for Coke. The target date for the launch of the new formula, new Coke, was April 1985 and Dyson involved Coca-Cola’s senior marketing and public relations officials, who were given the vital (and secret) task of co-ordinating new Coke’s debut.

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