The Business Management System

A Framework for International Competitiveness

image of The Business Management System

This guide presents the concept of business management system (BMS) as a generic structure for managing business enterprises. It explains principles of BMS and describes BMS components and how they interact with each other. The guide also reviews various phases of the strategy cycle of business management; deals with developing business capabilities and its importance for the business and outlines the transaction cycle of business management, explaining the tasks involved and their importance in exporting business. The appendices include BMS’s failure mechanisms, a glossary of related terms, and Nomenclature of BMS.

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Transaction cycle marketing tasks: getting orders

Prompting and responding to sales inquiries. This marketing task is defined as building procedures to initiate contact with prospective buyers and answer inquiries. Development of procedures and allocation of responsibilities for making sales contacts and responding to inquiries is often neglected by SMEs. Making sales calls may be left in the hands of a few people, without a well-designed standard procedure to follow. This results in arbitrary offers, varied promises and unexpected compromises. Similarly, there may be no clear procedures for specifying who should respond to inquiries and how. This may result in delays in response, wrong responses and even lost sales. Quite often, the owner-manager monopolizes the authority for making sales contacts and responding to inquiries, and as he or she may not put into practice a standard procedure, he or she gets the same results again and adds organizational confusion. Developing detailed procedures (e.g. how to respond to a phone call) and training staff is very important.

English Spanish, French

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