The terms merger and acquisition are wedded together like other common word combinations such as salt and pepper or black and white. However, though they are often used interchangeably, they don’t mean the exact same things. A merger happens when two or more than two companies fuse together to form a new company. The merger that takes place is based on a mutual decision between the two companies. Often these merged companies are approximately the same size, and they may even adopt a new name to define the new business entity. Mergers occur when companies are combined. Two of the most common kinds of mergers are:
- Horizontal Merger: This kind of merger is when there is a consolidation of firms that are in the same industry.
- Vertical Merger: A vertical merger is when two or more of the combined companies are in different stages in the supply-chain process for the same good or service.
Acquisitions occur when one company “acquires” another. A new company is not created during an acquisition. The smaller company is typically consumed by the larger one. An acquisition is sometimes considered a “takeover” even if it isn’t always called that by the parties involved. Hostile takeovers are acquisitions that take place when one company takes over control of another without the agreement of the firm that is acquired.
There’s always room for improvement in any business. That’s why assessments are conducted to help identify and implement major improvement opportunities. The purpose of an operations management process, in simple terms, is to produce solutions that improve performances throughout the company. Along the way, your business can benefit from having problems solved or having a plan in place to fix whatever is broken. Another benefit of an operations management assessment is that it includes everyone involved in the business, which means you get buy-in from employees, staff, management, and leadership personnel. Some of the most significant benefits to a comprehensive operations management assessment include:
- Identifying and Eliminating Waste
- Facilitating Continual Future Improvement
- Integrating Lean Environment Features
- Understanding Customer Needs
Make your business operations more effective and efficient when you focus on each function of providing a product or a service. You want to meet all of your business challenges by solving the problems and enhancing the opportunities.
Contact ProGuide, a leading business assessment firm, to conduct assessments that help take your business to a new level by increasing productivity, aiding systems with advanced technological knowledge, and reducing costs. We aim to help you stay in touch with the changing needs of your customers and improve customer service across the board.
All kinds of organizations need professionals to manage the supply chain, which is how the flow of goods and services are created and delivered. Some examples of companies that depend on a robust supply chair include manufacturers, retailers, transportation companies, third-party logistics firms, government agencies, and service firms.
There are a number of processes that occur before the creation and final delivery of the product is accomplished. When a company’s supply chain is operating at an optimal level, customer service is maximized and a higher competitive advantage is established. All of the activities between developing a product and getting it to the consumer make up the supply chain. Keep in mind that quantities and timing are key players in a successful delivery process. Some of the areas that are always in play for the right supply-chain focus include all of the following:
- Product Assembly
- Moving Storage
- Customer Service
A professional who specializes in supply-chain management is involved in every facet of the business process. They aim to maintain a sustainable competitive advantage by building and delivering better products faster and cheaper. They specialize in logistics, purchasing, developing new products, traffic control, operations, and much more. For more information on any business process improvement consulting, contact the team at ProGuide.biz.
You want your employees to be as enthusiastic as you are about your company. So, what are some of the most reliable ways to ensure your employees are consistently putting their best efforts into their jobs? If you have tried to raise the bar on employee motivational techniques, you may want to get more creative about what to try next on your path to higher productivity levels.
Incentives: There are a number of ways you can reward performances based on meeting specific goals. For example, you can offer bonuses for meeting goals early, allow a week or so of flexibility on the clock, or give them a couple of hours of paid time off (PTO) for a job well done.
Goal Setting: When you set smaller goals, you help your employees to achieve them more easily. Once those goals are met, you can reward the whole team for achieving the goal.
Spread Enthusiasm: Share your positive energy throughout the office. You can also encourage your teams to play as hard as they work, which increases energy in the workplace.
Open-Door Policy: Speak to your staff the way you want to be spoken to. Also, an open-door policy engenders trust and a sense of staff empowerment when employees are encouraged with the freedom to offer workplace suggestions and ideas.
If you are starting to develop your own business consider the ways you can help to ensure your success. As you formulate your business goals, be sure to eliminate any hindrances or distractions along the way. Be as open-minded about what you are doing as you are confident in the direction you are headed. There are some similar hallmarks that are shared among many successful entrepreneurs. A few obvious characteristics are enthusiasm for the work, taking the job seriously, and being extremely disciplined. Among some of the other traits that boost the average entrepreneur into the ranks of the highly successful include the following:
- Knowing How to Manage Time & Money
- Using Advertising & Marketing
- Asking for Sales
- Being Focused on the Customer
- Maintaining Professionalism
- Welcoming New Technology
- Investing in Continuing Education
- Remaining Accessible
- Building & Maintaining a Stellar Reputation
- Knowing How to Negotiate
- Staying Organized
- Delegating Assignments
- Following Up on Meetings, Projects, Communications
- Leading By Example
You want to guarantee that you have chosen the field that best suits your personality. Once you’ve made that choice, you can use your personality to help you get where you want to go. One of your goals at all times is how to improve the customer experience. You will know your talents, and how to make up for any weak areas or limitations you may have.
Welcome to the ProGuide blog. Here we plan to share articles with you that enlighten, enhance, or just interest you about the world of management consulting. We want to touch on such topics as “improving the customer experience” and obtaining a Lean 6 Sigma certificate. Our firm, which is based in Fort Lauderdale, has worked with global clients for more than 25 years. The blog topics we plan to explore include our areas of expertise, which are:
- Business Optimization
- Educational Offerings
- Supply Chain Skills
- M&A Advisory
As well as being informative, we plan to post business tips and guides to help you give your business a boost. We want to connect with you through shared interests and goals. Check out how ProGuide approaches “change initiatives” in our business assessment services. We welcome your questions and comments. Feel free to call us at (954) 334-1275 or send an email to Patrick@proguide.biz/. We look forward to serving you soon.
Thank you for your interest in ProGuide. We value your time and are excited to share our different perspectives on business tactics and strategies. As we address topics that are relevant to you and the growth of your business, we hope to help you solve some of your business challenges while building up your customer base and bottom-line profitability.