Citation
Cole, G. (2014), "Competitive horizons", Strategic Direction, Vol. 30 No. 9. https://doi.org/10.1108/SD-07-2014-0089
Publisher
:Emerald Group Publishing Limited
Competitive horizons
Article Type: Competitive horizon From: Strategic Direction, Volume 30, Issue 9
IMF upbeat about economy in Kenya
The International Monetary Fund (IMF) is positive about economic prospects in Kenya, a report published by www.allafrica.com notes. An increase in foreign investment and a rejuvenated manufacturing sector are cited as key factors in growth. The organization is also complimentary about the efficient monetary policy of Kenya’s central bank and its positive impact on inflation control and currency stability. Success of the nation’s initial sovereign bond is likewise acknowledged. Another positive is the aim to achieve financial inclusion, which increases the possibility of being able to lend to smaller businesses at rates more affordable to them. However, the report does point to challenges to Kenya’s economy. Most prominent of these is low levels of rainfall and the security issues which have negatively impacted on tourism. Safeguarding of devolution and ongoing institutional reforms are among key IMF recommendations to help achieve growth that could prove more sustainable.
Greater care advised for hardware disposal
When businesses engage in a restructuring process, existing hardware often becomes obsolete. However, many organizations fail to take necessary precautions when disposing of such resources. Superfluous hardware is often later sold online, and there is a significant possibility that buyers will be able to recover and access confidential information previously stored on it, a report published by Growth Business (http://www.growthbusiness.co.uk) points out. Normal practice within most companies is to carry out simple procedures to delete data or reformat drives before discarding storage devices like PCs, PDAs and MP3 players. But to ensure that sensitive details are totally erased, firms are urged to use more advanced data removal programs. These solutions offer greater effectiveness but can be frequently overlooked, although due to mistaken assumptions that they are not economical. As a further measure, the report also recommends physically destroying storage discs and other hardware items which are not due to be recycled.
Tablet sales set to decline further
A report published by the China Post (http://www.chinapost.com) reveals global fall in the growth in demand for tablet computers. Sales of these devices grew by 22.6 in 2013, but Digitimes Research expects the market in 2014 to expand by 12 per cent at best. The Taiwan-based organization pointed out that this continues a trend of gradually slowing growth which has been evident over the past few years. The report suggests that market saturation is a significant factor in the same way it was responsible when demand for digital cameras and notebook computers similarly declined. Notwithstanding this, low-priced notebooks are now increasing in appeal to consumers as an alternative to tablets. Digitimes Research also believes that tablet sales will be further affected as 4G smartphones and other wearable devices become more affordable propositions to consumers.
Making cold calling more effective
Firms can secure business by using an effective cold calling strategy, Small Business Canada (http://www.sbinfocanada.com) claims. Making a good first impression greatly enhances the prospect of succeeding; therefore, researching the potential market in advance greatly helps. Another recommendation is to send out promotional items to organizations before making formal contact. Doing so enables companies to perceive the quality of your offerings. The report also points out the importance of having a clear focus when approaching potential customers. This should include detailing how the customer would benefit from using the product or service you are marketing. Timing can be crucial too. Evidence suggests that companies will be more responsive in the morning and easier to reach during that period of the day. It is a good idea to prepare a script before making the call and to use it to guide the discussion. Insistence might well be needed, although this should not come at the expense of showing the courtesy that must prevail throughout. Determination and persistence are other qualities that are frequently needed if this much-maligned approach is to pay dividends. It is common for many cold callers to admit defeat far too quickly. This is despite the existence of research showing that the vast majority of customers might need contacting several times before a sale can be secured.