The Five Principles of Successful Business Practice

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Business DriversIn the Business Vision of ETC there are what is called Business Drivers. These include Financial Strength, which relates to Growth (Revenue & Profitability), Expansion (Mergers & Acquisitions), Operational Performance (SG&A), and Risk Management. Another Driver is Product Portfolio. With Product Portfolio we have Core Competencies (Products & Services), Brand Awareness (Mind Share, Customer Service Competitiveness), and New Product Development. Another driver that needs consideration is the Delivery Channels which includes Group Shared Service Operations, Facilities & Operations, Electronic (e and c) Services, Consumer Care Centers and Business Customers. The final business driver is Customer Services with Consumer Value Proposition (Market Share), Marketing/Advertising, and Member Service Responsiveness.

While focusing on business drivers one must also consider Information Technology Drivers, as Information Technology is a dynamic that can affect the success of the operation. Without going into detail, the five essential considerations are summarily listed as People, Product, Process, Platform and Partners.

The perspective we utilize is called Strategic Information Systems Planning Solution Approach. First is the Enterprise Level Assessment, where the question “Where are you today?” is asked. Secondly, we apply a Strategic Solution Definition, which ultimately–taking into consideration your strengths and weaknesses, your assets and liabilities–asks another question, “What should you look like?” Thirdly, after analyzing the situation and determining what you are ultimately trying to accomplish, ETC will help you make a Solution Delivery Selection, which basically asks the final question, “What is your best solution and how do you get there?”

My name is Steve Galvanoni; I’m CEO of ETC. Previously I spent 25 plus years in my business career associated with barcodes, scanning and mobile computing systems. My experience in business has allowed me to understand the Five Principles in this way: The first principle is Applied Awareness, which has to do with answering the question, ‘What do you want to accomplish?’ I was involved in the initial stages of inventing the barcode and what we wanted to accomplish was with the grocery manufacturers of America and Supermarket Institute is a unique marking system for consumer package goods that allow traceability and the ability of scanning these particular barcodes for informational purposes. The second principle is that of Benefit. In this case we wanted to provide information that would be a benefit to or for the retailer or the individual system so that we could then see particular movement in certain categories in s store, unique to that individual item. There were many ways to accomplish the gathering of that information as time went on, which deals with our third principle of for m. We started off with the barcode symbology that is associated with capturing data and moved on to multiple types of different barcodes including the UPC code, to a 2 D barcode. Today, as well as with RFID or tag technology this provides a significant amount of information with no human intervention. We also take into account, as with the principle of Flow, that the Business Universe does not stand still but is in continual motion. That’s very true as it relates to the technology of mobile and barcode scanning. If you look in the past at Moore’s Law with the formation of Intel, you will see that memory for devices are incrementally increased significantly over a short period of time. Also you’ll see that, just by the example of the different types of methodologies of barcoding, these technologies have advanced significantly. Last but not least we are looking at the harmony, or balance of all the technology. This is very important, because when you apply technology to people you must have technologies that are easily understood, so that they can be adaptable. In today’s world, the intermediation of smart phones and other technologies that allow you to get instant information, anytime, anyplace to anyone anywhere in near real time sub-second response time has certainly made the world a smaller place to live from a communications standpoint.

What you are going to see, in my opinion, in the future is the continued evolution of these types of technologies that will be rapidly deployed to improve and provide better information for businesspeople to make informed decisions in a real time nature.

Today’s world moves rapidly. We are constantly barraged by information and clutter daily, hourly, minute-by-minute, second-by-second with new delivery systems and technologies such as cellphones, texting, Twitter and other social media. Do you remember the first technologies that brought about this change? It was pagers. But, at least with pagers you still had enough control over the situation to ignore a page if you wanted to, until you were ready to respond to it. I believe that with the rapid technological advancements it’s creating societal problems and interruptions during times that put us on notice for work or social engagements, twenty-four hours a day, seven days a week. This is not healthy in my opinion. There has to be times when we, as individuals are able to step away from everything, shut off our devices, including televisions and just think, relax and do what we want to do, without being beholden to a device or responsible to give an instant answer to somebody. If you consider what you want in life, which is success or significance, it’s paramount to determine what’s important in life, and how you are going to live your life. When you make a plan, structure it in a manner that meets your goals and objectives and determine whether you want success or significance. I believe you can have both, but the success has to be in moderation.

(Note: This information has been disseminated, in more or less detailed form to every client of ETC. The information below also makes up the bulk of many of Steve Galvanoni’s workshops on successful business. We would like to acknowledge a special gratitude to Mr. Galvanoni for sharing this very valuable essay with us.)

Message in a Bottle/Steve Galvanoni

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Steve Galvanoni, a contributor to THE FIVE PRINCIPLES OF EVERYTHING, gives his “Message in a Bottle” to the Legends and Legacies producers. This clip is also available at www.Vision-Revision.pbwiki.com and a full “business” interpretation will be found in the Five Principles text.

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Steve Galvanoni About Steve Galvanoni

With a successful 30 year career in Sales, Marketing, and Executive Management in the field of technology, specifically software and mobile/wireless handheld computers, Steve Galvanoni has been active in Real Estate Development for the last 25 years, and is also co-founder of EcoSpan.