Archive for category business

CEO – What it is?

CEO traitsMost of us want to open a business someday and be his own CEO. But do we have the traits of excellence CEOs? Here’s 5 traits that most successfull CEOs have:

1. Personal insight.
Great CEOs are great leaders. They know themselves and what they stand for. They have been called on all their lives as problem solvers because others know them to be fair and impartial. People respect their opinions and look to them for guidance. Great CEOs are mature as people. They can suffer disappointment more gracefully than others and give others credit for their achievements. They don’t come in the office door yelling for something they need. They aren’t as concerned about titles or power structures as they are about the welfare of those who work at the company. They are trustworthy because they’ve always been honest with people and have earned that trust. They care about families, and they know that people are more important than dollars and express it in their actions every day. Finally, great CEOs seek out feedback. They want to know how others see them so that they can understand themselves better and continue to grow as people. They also want feedback about the company from an employee perspective, and they use surveys as a starting point for creating a dialogue to make things better.

2. Resourcefulness.
Great CEOs seem to have boundless energy. They come to work with the greatest enthusiasm. Even when they don’t feel like it, they find ways to reenergize themselves and come in ready to go. They take good care of themselves physically and emotionally so that they can be there for the employees and the needs of the company. They give much more than they take every day. They don’t give up. If the wall is too high, they back down and find another way around. They don’t blame, but they do look for solutions to problems so that those problems are less likely to happen again.

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Spoiling the market?

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I do regularly ship some items back to Malaysia for resale especially electronics. One of the main reason is that the price in the US is much cheaper even after the cost of shipping and taxes. Just now I received a message from the sole distributor of one of the items that I’m sending back. The message stated that I was spoiling the market by selling items at lower than market price and the company is bearing the cost of what I’ve done. I actually don’t care what happen to them as they are my competitors. However, what keep me thinking is the effects to the community. So here is an analysis of my current business practice:

Am I practicing predatory pricing?

Predatory pricing can be best described as selling an item at a very low price with the intention to drive other competitors out(wiki). Competitors with lesser resource would close their businesses and this gives monopoly power to those who’d survived. In my case however, the price I’m to offer is strictly based on my personal cost estimation and expectation of demand. With such a low volume, no business will go out of business due to my activity.

Is free market is a bad thing for consumers?

I would rather think my act as a balancing activity in a free market. Right now the price of the items is heavily inflated as a result of distributor’s monopoly strategy. I received the price list sent by authorized distributor and I was shocked to find out that the dealer price is even more expensive than my selling price. This shows that distributor is cutting out the lion’s share for themselves. With the pressure that I introduce to the market, I hope retailers would also pressure the distributor to lower its price.

Concern for future demand

I do concern about the effect of the demand to future customers. As I’m selling items at much cheaper price, current and future customers would seek the same discounted price even after my bulk has completed. If none is available, this would curb the demand in anticipation of lower price, and thus would reduce the presence of the brand in the market. The next order in the effect chain would be up to the distributor. If they’d realized that the demand is diminishing, they’d either ramp up the advertisement and introduce cheaper price, or they would just increasing the price to cover total operation cost. I hope it would be the former as the later is unsustainable and leads to greater loss.

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