To have clear the purpose of the organization and to improve the "human" experience of the relationship client - brand, are the two trends that the experts visualize in the strategies of the companies in the next years.
According to the "2020 Global Marketing Trends Report", prepared by Deloitte, there are five other trends that derive from human purpose and experience: fusion, trust, participation, talent and agility.
The growing tendency to lease rather than buy, not only real estate and cars, but also services and products, is forcing traditional companies to reinvent themselves completely, not to be left out of the new digital and collaborative economy.
Although in Central America this trend is not yet as marked as in other regions of the world, companies that want to prevail in the future must pre-empt it and begin to redefine their long-term strategies, considering these changes that while leading the new generations, are not alien to other age segments of the population.
Making real sales projections, segmenting prices and designing savings options are some of the strategies that companies can use to protect their profitability in contexts of inflation and recession.
Ariel Baños, price management specialist and founder of Fijciondeprecios.com, details techniques that could help companies avoid negative effects on their finances, when faced with scenarios of rising prices and low dynamism in economic activity.
At a time of economic slowdown, companies must immediately review business models and identify opportunities arising from the creation of new market niches.
In Central America, during the first half of the year, at least four of the six economies reported declines in productive activity. The most dramatic case is that of Nicaragua, which in February recorded a 7% year-on-year drop in the Monthly Index of Economic Activity (MIEA), a situation reported since the political crisis began in April 2018.
The difficulties in identifying staff training needs and the lack of a clear relationship between new employee skills and incentives diminishes the possibility of achieving company goals.
According to the Deloitte 2019 Global Study of Human Capital Trends, in which more than 9,400 business leaders from around the world participated, including 261 from Costa Rica, the learning of business staff is the most relevant trend.
Having the required resources to manage the data needed to make decisions is crucial to the success of businesses in today's environment.
Today's data savvy organizations, those with a top-down approach to decision making, do a better job of extracting value from the data, explains a Coursera publication.
The report notes that according to Andrew Ng, Stanford professor and co-founder of Coursera, using "...data in the right way can be the path to solving critical business problems, which is the mission of business."
Improving performance using new sources of renewable energy and the manufacturing, food and agroindustry sectors is one of the objectives of the strategic plan put forward by industrial entrepreneurs in the region.
The Board of Directors of the Federation of Chambers and Industrial Associations of Central America and the Dominican Republic (Fecaica), presented its strategic plan for the 2018-2023 quinquennium, which considers the issues which the region should focus on in order for the industrial sector to grow.
Controlling and professionally establishing the price of what is sold is essential for a company in order to be successful and obtain an adequate return.
Ariel Baños, founding economist of Fijaciondeprecios.com, presents 10 essential actions to ensure proper management of the prices of what a company sells.
1 - I will use the cost only to know the floor price and profitability.
Planning adjustments to avoid the loss of profitability and redefining discount policies are some of the goals that companies should consider when deciding on their pricing strategy for the new year.
The last weeks of December are generally a good time to evaluate the results of the strategy implemented throughout the year that is ending, and to reevaluate plans for next year.Ariel Baños, a specialist in price management, recommends that companies commit to five principles in order to get the information needed to decide on plans for next year.
Recommendations have been given on the business models and marketing strategies to use to enter the clothing, footwear and jewelry markets in the Canal country.
From the executive summary of a report by PROCOMER entitled "The fashion and design industry in Panama and marketing strategies":
Opportunities for internationalization of the Costa Rican fashion and design sector in Panama depend on the category, since both local and international supply varies with the type of goods being sold.The particularities of each should be taken into account when defining market entry strategies.
Without falling into the bad habit of micro-management, managers should follow the premise of "less deskwork and more walking around the factory."
An article published by the School of Business at the University of Montevideo, points out the need for senior executives and business managers to leave, for short times, the strategic part of their job, in order to be more directly involved in the company's concrete productionprocesses.
A company can make no mistakes at all, but if its strategy and way of thinking are not able to adapt quickly to changes in the environment, it will inevitably disappear.
EDITORIAL
Nokia's CEO said: "We didnt do anything wrong, but somehow, we lost"
Nokia was the shrimp that was ahead of the pack... but it has become the best example of the old latin adage "a shrimp that falls asleep, gets carried away by the current." The failure of the technology giant was not due to technical mistakes made by company leaders, but the inability and perhaps unwillingness to change and understand that the environment they had to compete in had changed.
Eleven clusters are operating in Costa Rica, in sectors ranging from digital animation to flowers, food or agricultural products, seeking better operating and financial leverage.
Achieving greater access to credit, winning new customers and suppliers, discussing industry issues and possible solutions, more formalized operation or devising new strategies are part of the benefits of belonging to a cluster, a policy that is actively supported by the Costa Rica Foreign Trade Promotion Office (PROCOMER).
Far too many emails arrive in people's inboxes, therefore if you dont want your business communication to be deleted, it has to be properly structured.
EDITORIAL
It is very difficult for an email address to not be captured by those unscrupulous people who are dedicated to marketing, and more and more time is wasted because of the tens or hundreds of unwanted communications that are sent (spam).
A study has been made comparing the policies and incentives used to attract foreign investment and its impact on the economic development in each country.
From the executive summary of the study "Productive development policies to export and attract investment: a comparison of El Salvador and Costa Rica" produced by the Salvadoran Development Foundation (FUSADES):
Real Estate Development & Adventure Park Jacó, Costa Rica. Multiple Investment Opportunities Available. The Ocean Ranch eco-residential development is located...