SMEs are diverse in nature.
Hire Writer The sales process dates back to ancient times but for the purpose of this study I will be focusing on post World War Two. It is surprising that there is little research on the history and development of the sales process as sales are vital to the survival of business.
Elmo Lewis in This was developed to help guide the sales force Kotler ; Sheth and Sharma The sales process is inextricably linked to the buying process, which has developed significantly over the decades.
It has changed from a transactional activity into a strategic supply chain function looking to add value to the business Axelsson and Wynstra ; Cousins and Spekman ; Ketchen and Hult Through the development of the sales process there have been three key changes. This model provides focus to the sales process into adding value to the customer.
Regarding behavior, Covey talks about responsibility and accountability which is a critical area of any sales process, be it formal or not. Weather, or not, an organization has a sales process, the world, and customers, are changing and the approach to sales has to change to ensure complacency does not set in Kotter The culture and management of an organization will also impact the sales process, and vice versa, in positive and negative ways Handy Womack and Jones are pioneers in lean thinking and believe manufacturing processes and the elimination of waste can be transferred into the back office side of the business including sales.
One of the key themes that have surfaced from initial reading is that sales is a process, which needs to be followed, measured and improved to help increase the sales funnel, or pipeline, in order to grow sales Miller and Heiman ; Zoltners, Sinha and Lorimer ; Thull ; McClay Porter believes that when working with customers it is important to add value and create a competitive advantage.
When a formal sales process has been implemented, there is much evidence to support that the sales process should be aligned to the sales strategy and to the company strategy Kaplan and Norton ; Johnson, Scholes and Whittington ; De Wit and Meyer The sales task within a business is accountable for the vital creation of revenues, delivers financial stimuli and forms the fundamental connection between a business and its customers McClay, ; Moncrieff and Marshall Moreover, business dealings rely on persons and more so how they transact with customers, making the buyer-seller edge a highly capricious interface.
On the other hand, formal sales process is the sales strategies that provide the sales management force with the direction on how to sell.
It is the process that allow companies especially Small and Medium Enterprises SMEs to scale their sale force by teaching sales teams how to succeed.
According to Johnson et alformal sales process provides the sales management team with a framework from which to manage and enable measurement and continuous improvement of the sales force performance.
More specifically, a formal sales process enables sales managers maintain control over specific sales behaviors as dictated by the system adopted in Small and Medium Enterprise SMEs.
Formal sales processes in the SMEs context help sales management teams. They also help managers understand which measures should be adopted for understanding prospecting, qualifying and performance measurement.
Additionally, formal sales processes enable sales managers learn how to replicate good behaviors and eliminate undesirable ones besides recognizing problems before they turn to be major roadblocks Lii, Private enterprises are grouped into three main categories- large-scale, medium-scale and small-scale enterprises.
For this study, small and medium scale enterprises shall be the focus. Small and medium enterprises account for .
Malaysian Small and Medium Enterprises Essay - SMALL and medium enterprises (SMEs) are broadly defined as manufacturing, manufacturing-related services (MRS) and agro-based industries that employ around full-time employees or have an annual sales turnover of not more than RM50mil (Chermaine, ).
Introduction Small and medium enterprises (SMEs) play important roles in Malaysian economy. Report of Malaysia Economic Census showed that there were , SMEs operating in Malaysia, representing per cent of total business establishments.
INTRODUCTION The Small and Medium Enterprise Corporation Malaysia (SME Corp. Malaysia) was formerly known as Small and Medium Industries Development Corporation (SMIDEC). It is an agency under the Ministry of International Trade and Industry (MITI).
Small and medium enterprises are the most wide ranging form of business establishment in Malaysia, and theymainly operate in general business, raw material, agriculture and manufacturing sector.
However, the role of SMEsoperating in the manufacturing sector is relatively moreimportant in the Malaysian economy. Formal Sales Process in Small and Medium Size Enterprise (SME) Essay.
B. Pages Words This is just a sample. To get a unique essay. Hire Writer. Nevertheless, the other visible formal sales impact on Small and Medium Enterprises (SMEs) is that formal sales process enables leveraging of the available technology for the success of the.