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The Synergy Group
23rd November 2011
As business people, you may have heard of the theory of price elasticity. It’s a very real theory that operates in real life. In short, if a product is price elastic, it means that if you increase the price – you sell less, and if you decrease the price – you sell more. In fact, when you look at it practically, it makes sense. I hope the government take note of it in the upcoming budget when it comes to VAT increases. But that’s for another article.
Well, HP has inadvertently put that theory into practice. Let me explain. When HP took over Compaq and then Palm, it decided to use the Palm operating system in its newly developed tablet – the TouchPad. For a whole string of reasons, including the lack of apps on the system, it didn’t take off and HP decided to kill off the TouchPad earlier this year.
As you no doubt know, Apple, with the iPad, is the leader in this market with their iOS operating system. And others are following, e.g. Samsung, Asus, Motorola and Acer. From January to October this year market share, after Apple, is as follows:
Apple is expected to hit 65% of the market by the end of 2011. So far, January to October, they have sold 25,000,000 Tablets, so the mathematicians out there can work out there rest of the figures from there.
NPD, the market research company, has carried out this research and say that the manufacturers sold just 1.2 million Tablets from January through October, bringing in $415 million in revenue. As the year moved on, sales increased steadily. Second-quarter sales were three times better than the first, and third-quarter sales were twice that of the second, NPD found. A nice trend to be part of!
Now, back to the start of the story and HP! When HP decided to drop their TouchPad, they dropped the price in order to shift their stocks. When they did that, they passed out Samsung in sales and became second in the market, after Apple. They got 17% of the market.
Now that shows the theory of price elasticity. Can you make it happen in your business?
Copyright © 2011, DPNLIVE – All Rights Reserved
Written by Adrian Rush
21st Nov 2011
There are many reasons why Micro Businesses, Small Medium Enterprises and Companies would consider entering the Tender Process. However there are many myths and misconceptions about the whole process some of which I hope I can dispel.
Firstly what is Tendering?
Tendering is quite simply a method by which a company, organisation, Government Department or County Council look to find the most suitable company to do a specific project or contract.
Why does a company respond to a Tender?
The most obvious answer to this question is because they can do the job and they believe they are the best option for the people advertising the Project or Contract. In my view this is probably 60% of the truth. When I respond to a tender it is because I know I can do the project or contract for sure, but also because I know I am the best option for it. I also know that am very competitively priced and finally because I am a small business I am flexible. There is also another very basic reason - it will bring fees into the company.
So there are really three or four reasons a company would respond to a tender:
- They can do the Project or Contract.
- They are the best option for the company advertising.
- Competitively priced.
- Flexibility (if you are a SME).
Why should a Company Tender?
A company responds to because it feels it has the correct solution to the advertiser’s problem. It wants the work and feels that it can competitively price for the project. It has the expertise and capability to do the project. Finally and probably the most important it wants the work and the company as a client.
What are the Myths about Tendering?
- The Contract has already been award to the existing company.
- Your company has no chance of winning.
- Preparing a Tender takes time for very little reward.
- I am frightened of putting information down on paper and would not know how to start.
To answer them in order:
- A Department of State or Council or a company is required by EU Law to advertise potential contracts and to give every company capable of doing the job an equal chance.
- Your company has every chance of winning if you have the solution to the client’s request and can price your solution competitively.
- Yes, preparing your initial tender can take time as you have to possibly produce or find documents for the first time. But subsequent Tenders will be easier as you have a template to follow and the documents readily available.
- Do not be frightened. I always advise people to put down and pull together what you know and have easily available. Start with looking for a template and build up your store of information. You can always use the Tender Request as a guide to gather background or supporting information.
- I say to people DO NOT Panic remain calm and think clearly and slowly.
These are the myths and comments I hear most from people when networking and talking to business owners. Over the last thirty years I have produced or worked on a large number of different sized tenders and in my experience it is best to remain calm and think slowly and clearly.
Copyright © 2011, DPNLIVE – All Rights Reserved
With all the talk about Greek defaults and commentators speculating on the future of the Euro zone, a group of entrepreneurs gathered in the Radisson Hotel in Galway during September to send out a message of hope. Their aim was to find solutions, not excuses and let the world know that Ireland is certainly open for Business. The conference entitled, “Irish Executives Summit” has around 8000 on Linked In and the event was centered on the idea of taking that virtual community and turning it into a real world of business opportunities.
John Keogh, Senior Vice President of GS1 Global Office and founder of Irish Executives, talked about the idea of business people connecting online and then meeting offline. If only this would happen says you!
The four themes of the day were, cloud computing, social media, leadership and the Irish Diaspora.
It was clear that these entrepreneurs believe it’s possible to harness the power of social media sites to attract Irish people here and abroad to get the message across that Ireland is indeed open for business.
Star of 2016 award won by Applegreen
Applegreen, the #1 motorway service area operator in the Republic of Ireland, has won the prestigious “Star of 2016” at the European Small and Mid-Cap Awards. Applegreen beat off stiff competition from the two other companies shortlisted by the independent jury - Northern Ireland-based Kainos Group plc and Spain’s Inclam Group plc to take the Award in Brussels.
Q3 2016 statistics show over 35,000 securities listed on Irish Stock Exchange markets
- Listings on ISE markets exceed 35,000 securities
- 1,438 new debt listings in Q3 including Canadian, Latin American and European issuers
- Funds from Babson Capital, WisdomTree and Franklin Templeton among 252 Q3 new fund listings
- Equity trades up 26% and turnover 10% ahead year-to-date
- ISE-listed companies raise €393m in new equity in Q3
- ISEQ Overall index increases by 7% during Q3
- Irish Government raises €1.5bn through new bond issuance during Q3