What Is A Marketing Initiative?

Marketing is not as simple as many may lead you to believe. In order for your business to be effective, you need to understand what is involved in promoting what you are offering in terms of products and services. That is where a good marketing initiative comes in to play. A marketing initiative is essentially anything that is clearly defined as a marketing effort. Simple, isn’t it? It is basically anything specific in your marketing plan. So what types of things are considered marketing initiatives? Here are a few examples that may help you.

For larger companies, a marketing initiative can be a theme. For instance, a set of commercials that use a specific character or funny situation over and over may be considered a marketing initiative. This, though, would certainly be more common with large businesses. An example of this is the Geiko commercials that feature the cute talking gekko. The initiative is to associate their car insurance services and products with a character that sticks in your head. Being cute is an added advantage. This is why many commercials use cute, cuddly characters such as babies and puppies etc.

Another example of a marketing initiative is undertaking a certain method relentlessly. Sometimes you may wish to focus your efforts solely on one method of marketing. If, for instance, you decide to implement email marketing with great fervor, then you can call that your email marketing initiative. You will outline a plan very specific to that initiative. And you will carry it out. Focusing your efforts into a sole initiative demands that you understand it intimately. You better know what you are doing if that’s the ONLY initiative you’ve got. In addition you also need to have a backup plan in case your initiative does not come through for you as you hoped. Often, when you put all your eggs in one basket, you better have more eggs!

Another type of marketing initiative you may invoke is a large scale shift in what you are doing. If you are going away from traditional marketing to exclusively use the internet that is a whole new marketing initiative you are putting in place. Though not as specific as other examples, it is certainly something that directly affects the marketing of your company. These types of initiatives are usually done parallelly with your existing marketing initiatives. The old initiatives are slowly phased out as the new one takes over.

A marketing initiative can also be as simple as a shift in an idea. You can have a new marketing initiative that simply changes the way you promote your company, or more specifically what about the company you are trying to promote. A shift in positioning is a good example.

Marketing initiative is a broad term that is used often. However, if you understand what it is you will be more able to effectively put an initiative in place if you need to. Changing or implementing an initiative is a big part of the promotion of your business. So it’s important that you understand what it means in the first place.

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The Role of Internet in Business

The internet plays a major role in every aspect of our modern life. Internet technologies play a major role in business. As a business owner, knowing the role of internet in business will help you take advantage of the powerful opportunities it offers to grow you business and make operations more effective.

Here are different ways in which the internet has contributed to the success and growth of businesses.

Communication: The internet makes communication fast and cost efficient. Businesses use internet technologies such as Skype internet and video calls, email and video conferencing to make communication virtually instant.

Growth: The internet plays a big role in the growth of businesses. It gives businesses an opportunity to reach a wider global audience. Promoting through the internet is also a way to increase sales and reach the desired growth level. Business can also expand by having an online division.

Marketing: One of the role of internet in business involves marketing and advertising. Most businesses are taking advantage of the internet to market their products and services to a global audience. The most notable internet technologies here include search engines such as Google.

Networking and Recruiting: Social networking websites play a role in business networking by connecting like-minded professionals. Through the internet, people have found business partners and great employees.

Outsourcing services:The internet has helped cut costs by outsourcing services to countries where it is cheaper to provide these services. Apart from the cost reduction through the outsourcing role of internet in business, outsourcing enables businesses to concentrate on their core services and become more efficient.

Online Shopping Role: One role of internet in business is the birth of ecommerce websites and online payment solutions that allow people to shop online from the comfort of their own homes.

New Opportunities: The internet has opened up new business opportunities and giving rise to a group of successful online business owners. This is a powerful role as anyone can now start an online business.

The role of internet in business cannot be overstated. New businesses are taking advantage of the powerful role the internet plays in business to grow and succeed at a faster rate than was previously possible. Traditional businesses are also not being left behind as they are creating online divisions. A business owner can only ignore the role the internet plays in business at the peril of his or her business.

What Are FSA Employment Checks?

The pre employment background checks are the standard procedure for hiring in almost every successful organization. The FSA checklist is a useful tool to use for verification and better assessment of the potential employees.

The Key FSA Employment Checks include the following areas

1- Past Employer Reference

2- Education Document Authentication

3- Character Reference

4- Identity and Address verification

5- Credit History and similar issues

6- Criminal History

7- Directorship History (where applicable)

The FSA Employment checks include some few key steps like the cross verification of the references being provided. It depends upon the nature of the job for which person has been selected to really seek the back ground reference checks. For the person being considered on sensitive jobs, this reference can be started right from the first employment.

The verification of the Education credentials is done too; the universities or the institute where the person has graduated is asked for the authentication of documents too. This is important step if you are hiring a person from another country. Although there are certain degrees that might be accredited for being equal to U.S. degree, but most of the time gaps can be there regarding the whole study curriculum being out dated.

The FSA Employee Checklist is important also as the CVs tend to over state and include a lot of information that might not be true, so better find out this before hand then later. The checking of relevant professional qualifications and licenses is important step for assessing the candidate capabilities in true light.

The character checks has significance too, as this verification alongside the criminal record or ID background can confirm the social standing of the employee easily. The directorship information can determine the candidate ability in so many others light also. There are some important clauses that can affect the selection process very easily in case of the director ship being involved so it’s important where applicable.

Management and Financial Accounting

Accounting is usually seen as having two distinct strands, Management and Financial accounting. Management accounting, which seeks to meet the needs of managers and Financial accounting, which seeks to meet the accounting needs of all of the other users. The differences between the two types of accounting reflect the different user groups that they address. Briefly, the major differences are as follows:

  • Nature of the reports produced. Financial accounting reports tend to be general purpose. That is, they contain financial information that will be useful for a broad range of users and decisions rather than being specifically designed for the needs of a particular group or set of decisions. Management accounting reports, on the other hand, are often for a specific purpose. They are designed either with a particular decision in mind or for a particular manager.
  • Level of detail. Financial reports provide users with a broad overview of the performance and position of the business for a period. As a result, information is aggregated and detail is often lost. Management accounting reports, however, often provide managers with considerable detail to help them with a particular operational decision.
  • Regulations. Financial reports, for many businesses, are subject to accounting regulations that try to ensure they are produced with standard content and in a standard format. Law and accounting rule setters impose these regulations. Since management accounting reports are for internal use only, there are no regulations from external sources concerning the form and content of the reports. They can be designed to meet the needs of particular managers.
  • Reporting interval. For most businesses, financial accounting reports are produced on an annual basis, though many large businesses produce half-yearly reports and a few produce quarterly ones. Management accounting reports may be produced as frequently as required by managers. In many businesses, managers are provided with certain reports on a monthly, weekly or even daily basis, which allows them to check progress frequently. In addition, special-purpose reports will be prepared when required (for example, to evaluate a proposal to purchase a piece of machinery).
  • Time horizon. Financial reports reflect the performance and position of the business for the past period. In essence, they are backward looking. Management accounting reports, on the other hand, often provide information concerning future performance as well as past performance. It is an oversimplification, however, to suggest that financial accounting reports never incorporate expectations concerning the future. Occasionally, businesses will release projected information to other users in an attempt to raise capital or to fight off unwanted takeover bids.
  • Range and quality of information. Financial accounting reports concentrate on information that can be quantified in monetary terms. Management accounting also produces such reports, but is also more likely to produce reports that contain information of a non-financial nature such as measures of physical quantities of inventories (stocks) and output. Financial accounting places greater emphasis on the use of objective, verifiable evidence when preparing reports. Management accounting reports may use information that is less objective and verifiable, but they provide managers with the information they need.

We can see from this that management accounting is less constrained than financial accounting. It may draw on a variety of sources and use information that has varying degrees of reliability. The only real test to be applied when assessing the value of the information produced for managers is whether or not it improves the quality of the decisions made.

The distinction between the two areas reflects, to some extent, the differences in access to financial information. Managers have much more control over the form and content of information they receive. Other users have to rely on what managers are prepared to provide or what the financial reporting regulations state must be provided. Though the scope of financial accounting reports has increased over time, fears concerning loss of competitive advantage and user ignorance concerning the reliability of forecast data have led businesses to resist providing other users with the detailed and wide-ranging information that is available to managers.