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Comparing Branding To The Accounting Principle Of Goodwill
When businesses engage in branding, they are trying to increase the value of their products beyond what the market values similar products. Many companies have successfully branded their products. Do you know why people choose Coca-Cola when there are similar sodas on grocery shelves? People trust and are familiar with the Coca-Cola name. They automatically choose Coke. This happens millions of times a day with millions of products and services worldwide. Choices are made based on the familiarity of a brand name.Branding may seem like an artificial way to increase the value of a product or service, but that is not the case. Familiarity and trust have worth and value. That is why billions of dollars are spent worldwide on branding.Take, for instance, the accounting principle of Goodwill. When a business is sold, an

if needs expand or change. Buyers also take note that this industry is extremely competitive, and in general customers really do get what they pay for. Prices are stable and well established, and there really are no fire sales, or steep discounts available. One further note: it is usually wise not to purchase software that has been licensed to another company, without expressed written consent from the software vendor. Many software purchase agreements prohibit transfer of a particular license from one company to another, (unless the software has been transferred as a result of a company buyout or merger.

5) Maintenance, Upgrades, and training and support

Users should not be shocked to find that software is regularly upgraded, at additional cost. This is true across the entire software industry. Since CAD/CAM Software is generally more costly than other type of software, is should also be no surprise that software upgrades are also more expensive than other types of software. Upgrades should be available on a regular basis. It is good to ask what the time period was between the last several upgrades. Most CAD/CAM software should have an major upgrade every 12-18 months. Users should not be

Business Ethics Case Study; Unbelievable Government Credit Card Abuse
In business management classes across the country MBA students study business ethics. In fact, there are now MBA degrees available that are called Ethics MBAs. But in the real world how ethical is the business community? How ethical is our own government?How many business travelers for their corporations charge personal items to their credit cards of their corporations? Corporations watch this very closely to make sure everyone follows the rules. Not everyone follows the rules and often there are people who go to extreme lengths to hide their misdeeds.From a business ethics standpoint corporations and their workers are much more honest and forthright than those who work in government. In fact government credit card abuse at all levels of government is at an all-time high. It is so bad that the federal government act

The selection of a CAD/CAM system is an important one for any design or manufacturing company. It has ramifications all the way from the beginning of the product concept phase to the end of the manufacturing process. It is likely that, only a single CAD or CAM vendor will be chosen, (although multiple stations may be procured). For most companies, a CAD/CAM software purchase decision is a one-time event. Because of this fact most companies have somewhat limited experience in the purchase of a CAD CAM system. A reliable CAD CAM consulting firm can be an important ally in the process of system selection.

This review will consider five important criteria. These criteria are listed in order of importance. Most companies place a great emphasis on initial cost and the list of features / benefits first. In this recommendation, ease of use is listed first.

1)Ease of use - productivity

2)Vendor stability and longevity

3)Features – functionality

4)Cost – total cost of system

5)Maintenance / upgrade and training costs

1) Ease of use

In practical terms, the ease of use of the system will have the most significant return on investment. It is often forgotten that design or manufacturing personnel may spend anywhere from 100 – 2000 hours per year on the system. (Estimate based on 2 hours part time per week, or 40 hours per week on a full-time basis.) The average cost of this labor is many times greater than the cost of the CAD CAM system itself. Even a 10 % reduction in time spent to complete a particular task could have a savings of over $ 5,000.00 in labor costs, the first year alone ! This is more than the entry price of most CAD systems !

Note: This estimate is based on use of the system on a full-time basis with a conservative calculation of a $ 25.00 / hour labor rate. Ease of use as it relates to productivity, is the single most important criteria to evaluate, and yet it is also the most difficult of the criteria to quantify.

Benchmarks: some companies attempt a timed benchmark between various systems, to evaluate this measure of productivity. This is problematic, however, since these types of competitive benchmarks are just as easily influenced by the individual skills of the CAD or CAM engineer, as they are by the software system itself.

It is wise to ask the vendor to demonstrate the creation of a particular part that is similar to others that you have designed or manufactured in the past. It is much easier for you to compare systems on a part that you are already familiar with than a “canned” demo on a part the vendor chooses.

2)Vendor stability

Make sure that the company chosen has a stable financial base, and has been in the industry for at least 10 years. One of the worst things that can happen to CAD/CAM customers is to lose the support and upgrade path for their software, because their CAD/CAM software vendor has gone out of business. This leaves customers stranded, and eventually their software will become relatively obsolete.

3) Features and functionality

Many prospective CAD/CAM customers try to calculate the value of their software based on a long list of features, and try to compare to other systems. The difficult of this is that the terminology used to describe certain functions varies from system to system. Vendors may also unintentionally or intentionally obfuscate this point, by claiming unique functionality which is really just a question of semantics.

For most customers, the CAD/CAM software industry is sufficiently mature to have more than enough functionality to satisfy even demanding customers. If your job requirements are highly specialized, or unique to your industry, then you may need to carefully examine specific functionality to make sure the software you choose can meet your needs. In terms of CAD software, this might be libraries of standard components particular to your industry, or it could be a unique type of warpage calculation, etc. For CAM systems, pay particular attention to specialized turning machines that are not simple 2-axis plus C-axis milling. Screw machines, multiple turrets or rotary turrets on a lathe, can be problematic. For milling machines, 4-axis and 5-axis applications can be very tricky to evaluate and can present special challenges for the machine tool manufacturer, and software vendor.

Again, a CAD/CAM consultant can be invaluable to scope out specialized requirements, and assure the the software meets the specific intended application.

4) Cost

This is the easiest criteria to evaluate, but one caveat emptor needs to be addressed. Most CAD/CAM software is sold on a modular basis. No company should purchase more CAD/CAM modules than they need. There should always be an upgrade path open for a later purchase of additional modules if needs expand or change. Buyers also take note that this industry is extremely competitive, and in general customers really do get what they pay for. Prices are stable and well established, and there really are no fire sales, or steep discounts available. One further note: it is usually wise not to purchase software that has been licensed to another company, without expressed written consent from the software vendor. Many software purchase agreements prohibit transfer of a particular license from one company to another, (unless the software has been transferred as a result of a company buyout or merger.

5) Maintenance, Upgrades, and training and support

Business To Business
Most businessmen prefer going about their concerns with partners. The main reason is that they will just have to invest on a portion since the other portion would be filled in by their partner. There are also times when there comes the business to business merging between the partners.They see this as an effective way of widening their opportunity for profit. However, as there is always a bad side to anything, if during the time that the business to business dealings come to an end, both of the involved persons should be willing to face the consequences that tag along their prior decision. There is clearly no assurance that business to business partnerships will stay fixed on a bed of roses. These dealings are not forever and the market is frequently unstable. So before you endear yourself to a business to business partnership,

that design or manufacturing personnel may spend anywhere from 100 – 2000 hours per year on the system. (Estimate based on 2 hours part time per week, or 40 hours per week on a full-time basis.) The average cost of this labor is many times greater than the cost of the CAD CAM system itself. Even a 10 % reduction in time spent to complete a particular task could have a savings of over $ 5,000.00 in labor costs, the first year alone ! This is more than the entry price of most CAD systems !

2)Vendor stability

3) Features and functionality

Again, a CAD/CAM consultant can be invaluable to scope out specialized requirements, and assure the the software meets the specific intended application.

4) Cost

5) Maintenance, Upgrades, and training and support

Ongoing Training Issues in Franchising Companies Addressed
In a franchise in Company, training never stops. There is the initial training, training the trainers and constant ongoing training. This must be done to ensure consistency, quality control and customer service.Stands ongoing training never stops in franchise companies, I decided to add an additional clause in our franchising agreements to address this issue. Below is a copy of what I came up with for my franchising company;4.3 On-Going TrainingFranchisee will be responsible for all travel, food, lodging and other charges and expenses incurred by Franchisee, its trainees and its employees in connection with attendance at the training specified below, including any registration fee that may be charged by the Franchisor.4.3.1 Specific TrainingFranchisor may provide training on specific, job-related

to others that you have designed or manufactured in the past. It is much easier for you to compare systems on a part that you are already familiar with than a “canned” demo on a part the vendor chooses.

2)Vendor stability

3) Features and functionality

Again, a CAD/CAM consultant can be invaluable to scope out specialized requirements, and assure the the software meets the specific intended application.

4) Cost

5) Maintenance, Upgrades, and training and support

Small Talk = Big Sales + Customer Satisfaction
On my way home from the office, I decided to pick up a chicken dinner.The woman who readied it for me asked, “How was your New Year’s?”“Pretty good, I replied.”She leaned over and confided in a whisper with a smile, “Mine SUCKED!”Give her an “A” for honesty.More important, she deserves a gold star for making meaningful small talk.What did she accomplish in that 10 second exchange?(1) First, she became more than a chicken vendor. She’s a person and I like her pluck!(2) I smiled at her honesty.(3) She sent me a signal that says, “It’s okay to talk to me, I can handle it!”So often today, you hear the empty pronouncements about the importance of developing “customer relationships.” A quick, exchange like I had brings the idea to life.Too much attention is paid to

ng customers. If your job requirements are highly specialized, or unique to your industry, then you may need to carefully examine specific functionality to make sure the software you choose can meet your needs. In terms of CAD software, this might be libraries of standard components particular to your industry, or it could be a unique type of warpage calculation, etc. For CAM systems, pay particular attention to specialized turning machines that are not simple 2-axis plus C-axis milling. Screw machines, multiple turrets or rotary turrets on a lathe, can be problematic. For milling machines, 4-axis and 5-axis applications can be very tricky to evaluate and can present special challenges for the machine tool manufacturer, and software vendor.

Again, a CAD/CAM consultant can be invaluable to scope out specialized requirements, and assure the the software meets the specific intended application.

4) Cost

5) Maintenance, Upgrades, and training and support

Advertising: Is There Nothing New Under the Sun?
My wife and I were cruising around the antique shops in Twin Falls when I came upon a book published in 1912 by the A.W. Shaw Company, Chicago, New York. The title is How to Write Advertisements that Sell.The book is part of a series of “how to” books and the author or authors are not revealed.The First Chapter of the book has a clever little table that all of you experts probably already know about. I hadn’t seen it before so I was impressed.I’m not allowed to put illustrations in my articles. I’ve put the table on the Internet and you can see it at http://www.secret-cash.com/chart.html.According to the text, the question that must be answered for any advertising campaign is 4-fold:1. What does the buyer want?2. How does your product fit that want?3. What tone should dominate yo

5) Maintenance, Upgrades, and training and support

Support hours should be reasonable, and at cover business hours, with some consideration to start and finish times within the time zones. Training costs should not be exorbitant. Group training for several employees at one time, or on-site training may also be available.

The use of good buying common sense and informed decision making using the above criteria can make the difference between a smooth CAD/CAM installation and something less than desirable.

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