Passion and Performance - Coursework Example

Title: PASSION AND PERFORMANCE (Name) (Institution) (Course) (Tutor's Name) 19th July 2008 Introduction One of the most powerful tools in the world of business is information. But not all information is important. Information has to be pertinent for it to be essential and powerful. If an entrepreneur could have the full knowledge about the performance of a venture or investment, According to Adamson et al (2007, pg114), then it would be possible to avoid making colossal losses or making of unsound business decisions. However, this is usually not the case. We make decisions basing them on estimations of probable outcomes prevailing in different situations. If only business executives could have unlimited in formation on how the market is to respond to certain brands in the market then a lot of money would be saved from making inefficient advertising and marketing campaigns. Such kind of information still remains a dream that does not look achievable. The baseline here is that companies try to use information and research to approximate and speculate on the customer reaction to a particular brand. Adamson (2007, pg 114) asserts that, rationalism among consumers is the most probable/prevalent situation. Common sense then rules. However, some very intricate issues such as passion and emotion play a very significant role in determining how a customer will react to a given good. History has it that emotions are at times wary of common sense, but I submit that passion is not contrary to common sense and rationalism. Passion then determines the performance and growth of a business and not mere existence or endurance or survival. In the modern times where the internet has revolutionized the way we do business, company websites have become a hot spot where companies are expressing their passion in their business. I agree that passion is no substitute for business intelligence. It can't substitute principles, purpose or product savvy. But where passion matters nothing else will take its place. What is passion then? Some people would like to think of it as to love and to hate at the same time. This is a common fallacy among non-business oriented individuals. But a business savvy mind takes it as the love of your business and work not as a means of livelihood only but as your hobby and doing it like it’s the only thing that matters to you. Meaning you give it your all. Tom Peters, in the book "In Search of Excellence," noted that "Nothing good or great can be done in the absence of enthusiasm." You can have full business and industry knowledge such as buyer perception, branding, pricing, packaging, promotion and the environmental impact of the product and business. This is all important and necessary to know, but if you are not passionate about the whole business, then it's just another job. Passion then should come in to determine how a company performs. With such background on the importance of passion in business the paper looks at the real situation in the business world. Passion and business environment How do you react to a company website when stumbled upon in the internet whether by chance? The first reaction that one gets goes along way in indicating the most probable reaction that would be extended to the brand once seen at the supermarket shelf. The website should serve the purpose fully and the same time is interesting so as to capture the attention and generate some feelings on part of the consumer. But the issue in passion is neither the consumer nor the market but the entrepreneur or employees or the management at large. Hats off for two companies who according to me have achieved in displaying passion in their websites and at the same time the sites and the companies perform exclusively well. The companies are: Loreal Redken UK Shell Transport and Trading Company Though the companies are international the way they handle their websites shows explicitly that the executive management is really passionate in what they are doing. This is not a management alone affair. For Redken it is open to see that the company is handling its internal environment in terms of products and employees with the utmost professionalism and liking it too. As shown by their websites these two companies display full understanding of their business environment by addressing the most basic ideas that are in the mind of a customer when visiting a company website. Easy navigation is provided guiding the customer through various aspects of the company so that even the first time user of the Internet does not get lost and at the same time is interesting enough to guarantee a second time visit. In order to make the visitors come back to your website, set up a forum, a chat room or a blog. Forums and chat rooms allow the users to express their opinions make reviews and let them get to know you better. This will keep them interested and curious about what is going on in your virtual world and elicits their hunger to be part of it. Fun and membership. Why not make a little quiz, game or a puzzle? It’ll keep the users entertained while learning about your offers. They will remember your site better and probably come back to it again. Also, a very important point to make is to update your website frequently. The information you provide must not only be accurate, but it would also be good that you add on something new there regularly, so that a returning visitor can discover something new about your business, hobby or anything else you want to feature there. Having looked at the websites of the above two companies it would then be appropriate to mention the considerations to be put when designing a webpage for us to see how the two companies have utilized these ideas. Characteristics of a good website Balance An attention-grabbing website has to be stable visually. In order to create a well balanced website that r echo’s the company’s passion all the objects on the page must be given appropriate weight and force. Rhythm and regularity Each web page has to have its own unique rhythm. It is created by a reverberation or alteration of essentials headways or links. Rhythm or tempo of the website creates a sense of movement, and a good Internet site should be lively, dynamic and vibrant to retain attention of the viewer. Proportion This refers to the magnitude and scale of the elements contained within a website. Proportion builds a rapport between these elements, giving an impression of unity and synchronization. In the Shell group website the company goes ahead by giving a tab that explains in details the steps the company has taken in going green as one of the steps of conserving our environment. In that site the company shows how it has taken initiatives in tree planting in all the countries where it has its operation and especially where mining of oil and other minerals is taking place. Dominance This influences where the eye goes first when looking at the page. It is used to give emphasis to certain elements of the design by determining the visual weight of the composition and establishing space and perspective. Harmony This concept describes the association among the individual parts and the website as a whole. It ties the composition together and makes the whole page pleasant for the eye. Rule of thirds This rule, which is popular in photography, can also be applied in web design. Its purpose is to locate the most interesting elements of the composition off the centre. Visual centre What follows from the above is that the visual centre of web page is not in the middle, but slightly above and to the right. That’s where all the important info/photos/links should go. Colour & Typography Finally, the last thing playing a vital role in the look of your website is its colours and typography. The fonts should reflect the character of the page and the massage it conveys. The colours should also be applied with the purpose of the page in mind. If it is a business site and you want it to look professional, use blue. In the webpage where Shell indicates its environmental conservation record, the page is green .This goes well to match with the theme of going green. Business environment Sell more products or services. Increase market share. Differentiate. Maximize shareholder value. Reduce costs. Design and pursue effective strategies. Hire the best people at the ‘right’ compensation level. Cut the best deal. Each of these activities requires some understanding of at least one aspect of that organization’s competitive environment Market research Strategic planning Price wars Mergers and acquisitions While strategic planning in this kind o setting means doing many things, it means, most importantly, doing what is necessary to ensure that profitability can be properly evaluated in the different areas of thrift operations. To do this implies some ability to segregate costs and price properly. It also means having a good handle on the meaning of risk exposure and a firm viewpoint about the risk/return trade off. Functional cost analysis, pricing financial services, and measuring and dealing with risk exposure are thus important areas of consideration in the development of a strategic plan. Organizational culture This is the way the company makes its self unique and different from others in the way it handles some particular issues such as employee's code of behaviuor and attitude. At Redken, there is the idea of using organic products in the market as opposed to ordinary products. Organic products are less harmful to the environment and more user friendly. At Shell the idea of conserving the environment goes beyond the physical environment to the internal business environment of the company itself. Employees are taught and made aware of the significance of displaying the environmental knowledge both external and internal in the way they handle their competitors and the market. This is not to be done as part of the job description only but also by persons who are willing and committed to the cause with reason and passion and still perform exceptionally. References Adamson, A. et al (2007). How the best Brands keep it simple and succeed, London: Macmillan, pg 114, 201. Edwards, H.(2005). Creating passion brands: Getting to the heart of Branding, Gobe, M. (2006).Emotional Branding London: Kogan Page, pg 34, 45, 78 Information on the above also available from Shell Group official website at http://www.shell.com/, (Retrieved on 18th July 2008) Redken official website at, http://www.redken.co.uk/_en/_gb/home/index.aspx, (Retrieved on 18th July 2008) Creating websites with passion and social values at, http://www.seroundtable.com/archives/000160.html, (Retrieved on 18th July 2008) Read More