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Write You - IT Usage in the Apparel Industry
The Joint Venture Analogy
Imagine my doctor sending out an e mail to all his patients, offering them a discount on hip replacements for November. Or the Network Marketing lady who walked into my seminar in a hotel in Abbotsford and announced that, after looking at the palm of my hand, I was deadly ill and needed her supplements. She added that this would also make me financially secure, implying that I was not financially secure. She had never met me and was not even a part of my seminar audience!This is not all that uncommon – attend most “Business Networking Events” and you will find a bunch of self-employed salespeople thrusting their business cards at each other and pr
ty. It is the second largest employment provider in India after agriculture. (Annual Report, 2005-2006, Ministry of TexImagine my doctor sending out an e mail to all his patients, offering them a discount on hip replacements for November. Or the Network Marketing lady who walked into my seminar in a hotel in Abbotsford and announced that, after looking at the palm of my hand, I was deadly ill and needed her supplements. She added that this would also make me financially secure, implying that I was not financially secure. She had never met me and was not even a part of my seminar audience!This is not all that uncommon – attend most “Business Networking Events” and you will find a bunch of self-employed salespeople thrusting their business cards at each other and pr
Questions that Make Money
Anthony Robbins said, "Successful people ask better questions, and as a result, they get better answers."There are only two types of questions: Those that get negative or negligible results, and those that get great results. What questions are you asking yourself and your associates, employees and customers that can result in a better bottom line? What questions will reduce customer attrition, improve loyalty and profits and motivate the people you work with?The answers to the questions we ask should result in answers that inspire, motivate and initiate innovation and positive action. They should encourage, cheer, challenge, energize and dr
The Indian Apparel and Textile industry is largely fragmented with the largest player having less than 2% of the market share. Apart from contributing the highest net export earnings (16 percent), it contributes about 14 percent to the total industrial production and 4 percent to the GDP. It is a labour-intensive industry that provides large-scale employment especially for women since it is non-hazardous, thus creating a level-playing field for them in terms of job opportunity. It is the second largest employment provider in India after agriculture. (Annual Report, 2005-2006, Ministry of TextAnthony Robbins said, "Successful people ask better questions, and as a result, they get better answers."There are only two types of questions: Those that get negative or negligible results, and those that get great results. What questions are you asking yourself and your associates, employees and customers that can result in a better bottom line? What questions will reduce customer attrition, improve loyalty and profits and motivate the people you work with?The answers to the questions we ask should result in answers that inspire, motivate and initiate innovation and positive action. They should encourage, cheer, challenge, energize and dr
Starting a Business
In economics, business is the social science of managing people to organize and maintain collective productivity toward accomplishing particular, creative and productive goals, usually to generate revenue.The etymology of "business" refers to the state of being busy, in the context of the individual as well as the community or society. In other words, to be busy is to be doing commercially viable and profitable work.Starting and managing a business takes motivation and talent. It also requires a lot of research and planning. Although initial errors are not always catastrophic, it takes extra specialization, discipline, and hard work to ga
share. Apart from contributing the highest net export earnings (16 percent), it contributes about 14 percent to the total industrial production and 4 percent to the GDP. It is a labour-intensive industry that provides large-scale employment especially for women since it is non-hazardous, thus creating a level-playing field for them in terms of job opportunity. It is the second largest employment provider in India after agriculture. (Annual Report, 2005-2006, Ministry of TexIn economics, business is the social science of managing people to organize and maintain collective productivity toward accomplishing particular, creative and productive goals, usually to generate revenue.The etymology of "business" refers to the state of being busy, in the context of the individual as well as the community or society. In other words, to be busy is to be doing commercially viable and profitable work.Starting and managing a business takes motivation and talent. It also requires a lot of research and planning. Although initial errors are not always catastrophic, it takes extra specialization, discipline, and hard work to ga
Vending Machines in Schools
Vending machines in schools are a convenient alternative for students to get snacks, chocolate bars, and water all through the school day. Just like adults, children are required to drink six to eight glasses of water to maintain water balance. Vending machines in school premises are very helpful for students as they provide a wide choice of snacks and healthier drinks. They are also helpful when the main counter service is crowded. Vending machines in schools offering drinks, fresh juices, water, and flavored milk can also improve the bank balance of the school, if properly managed.Vending machines in schools selling yoghurts, muffins, scones, an
al industrial production and 4 percent to the GDP. It is a labour-intensive industry that provides large-scale employment especially for women since it is non-hazardous, thus creating a level-playing field for them in terms of job opportunity. It is the second largest employment provider in India after agriculture. (Annual Report, 2005-2006, Ministry of TexVending machines in schools are a convenient alternative for students to get snacks, chocolate bars, and water all through the school day. Just like adults, children are required to drink six to eight glasses of water to maintain water balance. Vending machines in school premises are very helpful for students as they provide a wide choice of snacks and healthier drinks. They are also helpful when the main counter service is crowded. Vending machines in schools offering drinks, fresh juices, water, and flavored milk can also improve the bank balance of the school, if properly managed.Vending machines in schools selling yoghurts, muffins, scones, an
Medical Billing - Insurance Carrier Perspective
Everybody has their own point of view on every subject. In this world, our point of view, at least in our minds, is the right one. Well, that is no different in the world of medical billing. The patients think they should be paid for the claims, the medical billing companies want the patients to get paid for their claims so they can make their money and certainly the doctors want the patients to get paid for their claims or they'll go to another doctor. But what about the insurance carriers? It seems that they are the last people who want to pay claims. Well, this is for a very good reason. While everybody else is getting paid, the insurance carri
t especially for women since it is non-hazardous, thus creating a level-playing field for them in terms of job opportunity. It is the second largest employment provider in India after agriculture. (Annual Report, 2005-2006, Ministry of TexEverybody has their own point of view on every subject. In this world, our point of view, at least in our minds, is the right one. Well, that is no different in the world of medical billing. The patients think they should be paid for the claims, the medical billing companies want the patients to get paid for their claims so they can make their money and certainly the doctors want the patients to get paid for their claims or they'll go to another doctor. But what about the insurance carriers? It seems that they are the last people who want to pay claims. Well, this is for a very good reason. While everybody else is getting paid, the insurance carri
Trade Finance Alternatives for Export Companies
Are you selling goods or services to companies in other countries? Although expanding your company beyond your national borders is very exciting and profitable, it will also subject you to the payment habits of your foreign customers. Many times, customers can take as long as 60 days to pay for their goods. Although large export companies can wait that long to get paid, most small and medium sized businesses can't. This creates a cash flow problem.Of course, you can always ask your customers to pay you immediately by bank wire as soon as the invoice is presented. However, few customers will abide by that request and you risk loosing business to th
ty. It is the second largest employment provider in India after agriculture. (Annual Report, 2005-2006, Ministry of Textiles).Are you selling goods or services to companies in other countries? Although expanding your company beyond your national borders is very exciting and profitable, it will also subject you to the payment habits of your foreign customers. Many times, customers can take as long as 60 days to pay for their goods. Although large export companies can wait that long to get paid, most small and medium sized businesses can't. This creates a cash flow problem.Of course, you can always ask your customers to pay you immediately by bank wire as soon as the invoice is presented. However, few customers will abide by that request and you risk loosing business to th
For an industry of this stature and size, the usage of IT by the Indian apparel industry has been woefully inadequate. North American and European apparel companies spend about 3 to 5% of their revenues on IT. The Indian apparel industry in contrast, has typically invested less than 1%.
Historically there have been many reasons for this low usage.
1) Earlier most of the software suppliers in the Indian market have been North American or European
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