FinGenie Consulting (Private) Limited’s Post

WHO IS RESPONSIBLE FOR THE PRICING STRATEGIES IN MATURE ORGANIZATIONS: THE MARKETING DEPARTMENT OR THE FINANCE DEPARTMENT? It is a debatable issue. I think that when it comes to pricing, no one department leads the other. Both marketing and finance perspectives should be considered. As marketing department provides customer insights and behavior, competitive analysis, brand value proposition, market positioning, and promotion and discounts. While the finance department is responsible for cost structures, profit margins, the organization's financial health, risk management, budgeting and forecasting, and regulatory/compliance issues. I think the decision in mature organizations should be taken by the Chief Executive Officer (CEO) who, with both perspectives in mind, will have an overall strategic view of the organization's strategy, including pricing strategies. Article by Amr H. Abayazeed - July 05, 2024. #Management #ScienceNotArt #Finance #Marketing

Spot on. Revenue generation is used by both sellers (marketers) and buyers. Works both ways.

Thanks for sharing. I will implement it immediately. Useful insights

Did you know there are new long-term category management targets for fiscal year (FY) 2025? The Office of Management and Budget (OMB) has established govt.-wide targets for agencies to achieve 80% spend under management by FY29. Agencies can see their current % rating by viewing their Department's page on the Executive Summary Dashboard. Visit https://lnkd.in/g2FGUwpQ #categorymanagement #acquisitiontraining #spendundermanagement

simple and effective types of assessing procurement savings ✅

When was the last time you reviewed the prices for products or services in your business? Are you confident that you correctly identified all actual costs before setting the price? One of the best ways to achieve profit in your business is to review your pricing strategy. This webinar is aimed at small businesses throughout Illawarra, South East & Tablelands and Riverina Murray who have just started or have an established business. LEARNING OBJECTIVES: 1. Learn how to conduct a pricing review including accurately identifying all costs. 2. Maximise profit by determining which pricing strategy is best for your business including identifying what viable margin needs to be added to costs. 3. Gain an understanding how customers perceive value and dispel the myth that customers are price sensitive. LEARNING OUTCOMES: 1. Avoid a business failure due to incorrect pricing by immediately implementing a comprehensive pricing review. 2. Maximise revenue by promoting to your customers the total value of your products and services (price is merely one component of customer value). 3. Ensure profitability into the future by implementing a regular timeline for a pricing review such as quarterly, or at the very least annually. Click the link below to register: https://lnkd.in/g_mwWh9n #accounting #webinar #smallbusiness #business #pricingstrategy

Control of #Cost Applicability in the business terms: Generally, all businesses aim to create wealth, generate employment, and explore untapped opportunities. To achieve success in both personal and professional life, it is essential to take control of our finances. It is a common misconception in organizations that money or costs are solely the responsibility of the Finance or Accounts department. However, for both organizational and personal success, we must all manage finances effectively. For instance, in #SupplyChainManagement, the availability of parts is not the only responsibility; cost management is also crucial, encompassing inventory and logistics expenses. This principle applies to other verticals within an organization as well. Nowadays, employee KPIs are often linked to cost-related deliverables. From the teachings of Chanakya: "During the first eighth part of the day, one should listen to measures taken for defense and accounts of income and expenditure." — Arthashastra (1.19.9)

Embark on a journey to business success with Muscat Auditing's comprehensive Feasibility Report Service Which presents a strategic four-step roadmap that guides businesses through the complexities of market analysis and financial planning. Step 1: Business Model Engagement - Dive deep into the essence of your business with a personalized approach to understand your unique model and aspirations. Step 2: Showcase Financial Projections - Illuminate the path to financial growth with detailed projections, empowering you to control expenses and maximize profit margins. Step 3: Market Share Analysis - Gain a competitive edge with in-depth market insights, including a thorough competition analysis and identification of market opportunities. Step 4: Your Action Plan in Motion- Transform insights into action with a clear, step-by-step process that highlights key milestones and tasks, ensuring a trajectory towards your goals. 📧 Email: info@muscatauditing.com 🌐 Website: muscatauditing.com Contact:+968 9718 0100 #OmanBusiness #BusinessSupport #Growth #Accounting #Auditing #Taxation #FinancialAdvisory #Digitalization #HR #RegulatoryCompliance #InvestorVisa 💼

Streamline Your Consulting Service: The 7 Wastes to Watch Efficiency is key in service. Here’s a quick guide to avoid common pitfalls: 1- Delays: Keep customers moving. No one likes to wait. 2- Duplication: Do it once and do it right. Save time and effort. 3- Unnecessary Movements: Make every step count. Less back-and-forth. 4- Unclear Communication: Speak clearly and solve faster. 5- Incorrect Inventory: Stock what’s needed. Avoid substitutes. 6- Missed Opportunities: Every customer counts. Make every interaction positive. 7- Service Errors: Aim for zero mistakes. Happy customers come back. Source: Bicheno, J. (2008)The Lean Toolbox for Service Systems. MBA Journey #mbajourney #organizationaldevelopment #realestate #projects #development #2030vision #riyadh #marketing #saudiarabia #riyadhexpo2030 #recruitment #talentacquisition #ksa #PMC #PMO

We've put together an article on the key points for Finance Directors and Treasury Teams to be aware of when planning for the Procurement Act coming into force. Do give me and Mary Mundy a shout if we can help as you plan #procurement #procurementact