The Benefits Of A Coresatellite Investment Strategy

The core/satellite model approaches investment strategy using the two major viewpoints of stable investment meant to avoid market volatility, and higher risk investment, which is necessary for higher returns. Because of the instability of financial markets, the construction of the core portion of one’s portfolio is necessary to provide a sound base for one’s investments. As the word “core” indicates, these relatively stable passive investments, like ETFs and passive mutual funds, are the bulk of the portfolio in this strategy. The core will often be balanced with other non-equity investments that fluctuate independently from the stock market

Core investment trading is often limited to manage tax losses, and also because this portion of the portfolio is constructed as a long-term investment for the future. With a stable core in place, the satellite portion of the portfolio is intended for higher performance with a smaller percentage of assets. The smaller size of satellite investments limits the overall risk exposure of the client. At the same time, it gives the portfolio manager the opportunity to actively seek returns that outperform their benchmarks.

Unlike core investments, satellite holdings may be traded very rapidly. Tax losses are inevitable in satellite trading, but there is also the enhanced opportunity for short-term gains. Because of the balanced approach of core/satellite portfolio management, such investments should be utilized in any overall financial investment strategy.

Although active portfolios generally provide greater returns, during periods of instability and lower returns, passive long-term investments linked to major market indices offers a secure base to set benchmarks. The satellite investment portion provides opportunity for additional returns exceeding benchmarks. The core/satellite portfolio is constructed to keep tax and other expenses at a minimum – while limiting volatility within the core – and still having an opportunity of outperforming the broad stock market with satellite investments.

When implementing a core/satellite investment strategy, you should consider your financial situation including risk tolerance, and your budget requirements. The performance of core investments, for example, can be constructed with the intention of meeting minimum expected return requirements. Obviously, then the assets used for satellite investments can be seen as “extra” funds granted to your investment manager for alpha performance using higher risk strategies.

Major institutional investors have used the core/satellite approach for years. The concept of managed risk allotting the majority of one’s assets to stable investments, and a smaller portion within one’s risk levels to more active opportunistic investing, is not new.

Why Should I Go For Second Career Program

Have you been laid off and looking for a job for your bread and butter?

Second career can be the right option for you. Second career programs are run by Government to help the people earn a living. Government sponsors training for the new job. Second career programs provide financial support to the laid-off Ontarians. You can seek advice from career counselors before you take the first step for second career programs. It is important for you to take the right decision for choosing the right career. You may look for professional help if you need assistance for finding the best suitable career. You should consider all the factors and decide which the right career option for you is.

If you want to get trained for new career in growing sectors and fields, you can participate in second career courses and get the required training to get the right job. The participants can receive maximum $ 28,000 for tuition fees, books, travel and other expenses. The fees can exceed for the people who have learning disabilities. The Government aims at helping Canadians support their families.

Even if you want to upgrade your skills in a particular field, second career programs can help you. If you are looking for a networking or system administration course, it can help you in the long run. It is a good choice to choose network or system administration for second career. There are several certificate and diploma courses for you which can help you get the right skills and training. Network and system administration can be a good profession for someone who wants to make money as it is in high demand these days.

There are several training centers in Canada which offer career courses to unskilled newcomers and skilled immigrants too. There are certain rules and regulations which decide whether you qualify for the program or not. You would need to find out whether you qualify for the Government EI funding or not.

Have confidence and peace of mind if you want to start a new career in network or system administration field. Enroll for the right training program and get the desired training.

E-bidding The New Global Business Trend

Internet technology has become an intrinsic part of business enterprises across the world. Traditional business models have been replaced by online business proceedings with its high-tech tools and features. The rise of internet technology happened as business owners realized the potential of the Internet in enhancing the speed, efficiency and accuracy of their business operations and how they facilitate smooth and flawless business proceedings.

One such promising new-age business trend is E-Bidding. With more and more e-commerce websites getting deployed on the World Wide Web, the concept of e-bidding in soaring high.

What is E-Bidding?
E-bidding, also known as online bidding and e-auctions is a rising trend in the corporate circles across the globe. E-bidding is the concept wherein an online marketplace or website allows buyers to post their requirements in real time bidding events and potential suppliers and service providers can compete to sell their products or services to the buyer.

E-biddings are especially beneficial in scenarios where clients have accurately specified requirements and need the best and cost effective services to satiate them. Apart from the cost factor, clients can also consider the timeliness and quality of deliverables as a deciding factor to choose service providers and product suppliers.

E-bidding is a highly popular trend and is being used by several industries to buy and sell products and professional services at profitable rates and further profitable business endeavors.

The Process of E-Bidding
E-bidding revolves around the concept of sale and purchase of products and services online at profitable prices. Buyers generally post their requirements in online marketplaces and B2B websites and place Request for Bids. Potential suppliers and service providers can view these posts and submit competitive Bids for the same. In turn, buyers can review the bids and select one that is most cost effective. However, money is not the only criteria in selecting the vendor. Rather, buyers can browse through portfolios of potential vendors, trace their experience and expertise of the industry and then select the one that best qualifies for their requirements.

Business Advantages of E-Bidding
E-bidding offers a plethora of advantages to businesses and industries. It allows businesses to procure quality and cost effective services for their processes and thus helps them expand their profit margins. Likewise, suppliers and service providers can offer their products and services at best rates and reap benefits as well.

Here are some valuable business advantages of bidding online.

Access to Large Databases
B2B websites generally contain extensive databases of buyers and service providers. This increases and widens the network of the companies and individuals who register themselves on the website and connects them to a large pool of industry audiences. While buyers can browse through the database to find suitable service providers for their projects, service providers, in turn can apply to several posted projects and acquire new leads for their businesses.

Access to Worldwide Business Leads
E-bidding brings together buyers and service providers from all over the world. All the members of a B2B website have access to a worldwide audience. This means they can transgress geographical boundaries and time zone differences to hire professional services of offshore service providers and suppliers.

Access to Worldwide Business Leads
E-bidding brings together buyers and service providers from all over the world. All the members of a B2B website thus have access to a worldwide audience. This means buyers can transgress geographical boundaries and overcome time zone differences to hire professional services from offshore service providers and suppliers.

Comparison of Biddings
E-biddings allow buyers to monitor biddings and compare the different bids that are submitted. After they have reviewed all the bids, they can evaluate potential service providers and choose the best out of the lot.

Established Credibility
E-biddings is a critical procedure on trusted and established B2B websites. So all the members of the database are reliable and trust-worthy. This is because, these websites validate the identity of all the registered members and thoroughly check the details specified by them. This enhances the sanctity of online business proceedings.

Reduced Paperwork
Since all the proceedings are done online and all the information is stored electronically, there are no hassles about paperwork. The information can be easily and steadily processed and put to further use. Unlike scrapes of paper that needs to be reviewed manually, online data can be processed electronically by automated programs and softwares. Moreover, there is no additional costs regarding postage, photocopying and so on.

Time Savings
Because of online processing of information and other operations, e-bidding saves businesses a great deal of time and effort. Unlike tender systems, one doesn’t have to individually sort through applications to choose the right service provider and even the suppliers don’t have to send out forms and applications. E-bidding makes it easier to submit and review forms easily over the internet.

Secure Bidding Environment
E-commerce websites have strict security measures and privacy policies that ensures the safety of your data. Moreover, you can also be sure that all your cash transactions would be processed safely and securely.

Standardized Procurement Process
B2B websites allow buyers to specify the desired qualifications of vendors and service providers that they wish to seek. Thus, buyers can define parameters such as number of years of experience, type of expertise, ISO certifications and so on. And only service providers that fulfill these specified pre-conditions can apply or bid for the posted project. This highly standardizes the procurement process and delivers only relevant options to the client.

E-bidding helps obtain not just cost-effective services but also the ones that offer best value. It should be used as a strategic procurement tool by businesses to acquire valuable services for themselves and widen their profit margins.

Disclaimer : Sabra Easterday is the owner and founder of MatchB2B. Sabra is also a lawyer with a special interest in business issues and e-marketplaces. Notwithstanding that Sabra Easterday is a lawyer, nothing in this article and no services of MatchB2B or its website are legal services and no attorney-client relationship exists between any reader of this article or user, customer or potential customer of MatchB2B, and MatchB2B, its website or Sabra Easterday.

Are You Rights For a Career in Radiology

Radiology is a very exciting career with some bright prospects for the immediate future. With a current shortage in radiological staff across the USA and Europe, you are almost guaranteed a job. With starting salaries as high as $50 K, it really is well worth looking into. Radiology is not for everyone though as it requires a very specific skill set and a very specific person to flourish in this career.

If you are considering a career as a radiological assistant or even as a Radiologist, then here are some guidelines on what type of person you need to be.

The first and most important requirement is that you love working with people. Even if you are not a doctor, you will be working closely with patients and often with patients in distress. The ability to deal with these situations and a genuine desire to help is vital if you are to be successful in this career. You will also be working closely with doctors and the accuracy of your work is really important. You need to be someone who is meticulous with an eye for detail. You need to be someone who is thorough and who knows how to take initiative in difficult situations.

A large part of the job revolves around operating expensive and complicated machines. X-ray machines, MRI machines or even sonar equipment are highly sophisticated pieces of equipment and if you aren’t naturally adapt to work with computers and electronic equipment then you might struggle with this.

All careers in Radiology requires a degree or recognized diploma and most medical schools around the world have special courses for Radiological technicians. Many online universities also offer radiology degrees now and depending on the qualification you get it can be anything between 1 and 3 years of full time study. Its a tough course that covers anatomy, physiology and a lot of technical training.

It a challenging career but its very rewarding – both financially and emotionally. The majority of jobs is with hospitals although you can go into private practice or even join veterinary clinics or research laboratories.

Natural Mineral Water Indian Industry Analysis

Natural mineral water
According to American and European Regional Codex Standard, natural mineral water:
is obtained directly from natural or drilled sources from underground water – bearing strata.
is collected under conditions which guarantee the original natural bacteriological purity.
is bottled at the point of emergence of the source with

particular hygienic precautions is not subjected to any chemical treatment.

Indian bottled Water Industry

The bottled water industry in India is estimated at about Rs 1,000 crore and is growing at 40 per cent. “By 2010, it will reach Rs 4,000 – 5,000 crore with 33 per cent market for natural mineral water.

The formal bottled water business in India can be divided broadly into three segments in terms of cost: premium natural mineral water, natural mineral water and packaged drinking water.

It is estimated that the global consumption of bottled water is nearing 200 billion litres – sufficient to satisfy the daily drinking water need of one-fourth of the Indian population or about 4.5 per cent of the global population at the fourth World Water Forum held in Mexico City in March 2006.

In India, the per capita bottled water consumption is still quite low – less than five litres a year as compared to the global average of 24 litres. However, the total annual bottled water consumption has risen rapidly in recent times – it has tripled between 1999 and 2004 – from about 1.5 billion litres to five billion litres. These are boom times for the Indian bottled water industry – more so because the economics are sound, the bottom line is fat and the Indian government hardly cares for what happens to the nation’s water resources. Since 1991-

1992 it has not looked back, and the demand in 2004-05 was a staggering 82 million cases.

Mineral Water Market in India

For example, the per capita consumption of mineral water in India is a mere 0.5-liter compared to 111 liter in Europe and 45-liter in USA.

But over the last ten years, it has witnessed tremendous growth. The change is very much evident. Once a product found mainly at railways stations, mineral water today occupies a place on the shelf in most superstores, grocers and even paanwalas. From a mere 60 towns in the year 1997, it is predicted that mineral water is today available in more than 1000 towns and cities across India. With a compounded annual growth rate of close to 30% over the last decade, the mineral water market has witnessed a large growth in terms of volumes.

The market is highly competitive with the entry of MNCs like Pepsico and Coke. There are a lot of brands available in the market, each with its own proclaimed differentiation.

2.2 Player in the market

In natural mineral water there are very few company like Himalayan, Aava, Evian is playing in the market. 50% of the market is captured by Himalayan.
While a thousand bottled water producers, the Indian bottled water industry is big by even international standards. There are more than 200 brands, nearly 80 per cent of which are local.
Most of the small-scale producers sell non-branded products and serve small markets.
Despite the large number of small producers, this industry is dominated by the big players – Parle Bisleri, Coca-Cola, PepsiCo, Parle Agro, Mohan Meakins, SKN Breweries and so on.

Consumption of bottled water in India is linked to the level of prosperity in the different regions. The western region accounts for 40 per cent of the market and the eastern region just 10. However, the bottling plants are concentrated in the southern region – of the approximately 1,200 bottling water plants in India, 600 are in Tamil Nadu. This is a major problem because southern India, especially Tamil Nadu, is wate starved.

Mineral water business is restricted only to big hotels & Restaurants. This field has lot of scope because of unawareness in the market and people are becoming health conscious.

The Significance of Innovation Management Software

To stay ahead in any business, it is very important to have
the best innovation management software. Such a software program will
help a company become more stable and dynamic. In today’s struggle to
survive, a company has to be open to all new suggestions and
innovations. This is extremely important in increasing the revenue of
the company and cutting down on all additional costs. Employees have
much to do in this case. They come up with innovative ideas each day and
the innovation management software is the best to monitor them. There
have been companies, which are trying to cut down on cost simply by
reducing the number of employees within the organization. However, most
experts are of the opinion that this is not the right thing to do.

Through innovation management process, you would
come to know that people working within your organization are great
source of improvement. They are the pillars of innovation and they know
how to grow your company. Business lies in the minds of employees and
thus, less number of employees would mean a reduction in total output.
Rather than reducing the number of employees within the organization, it
would be best to utilize them in making the organization more
meaningful. Through the best innovation management process, you can
reduce company’s costs. This will help you save a great amount of
revenue. The management process can also work best in enhancing the
income percentage of the company. Once there is a way to raise the
income, the employer would have no more problems in handling the
required number of employees. New ideas can make a company strong and
competitive. A smart company can well develop with time and make the
best use of the total work force that it has.

When
dealing with innovation management systems, you can adopt several ways.
It is important for the employees to be more cautious. The owner or the
managing staff of a particular organization can go circulate emails to
all the potential employees asking for the required suggestions and
advices. As an employer, you can ask your employees several questions
and through these interactions, you can find solutions to several
organizational issues. Once the employees know that their suggestions
are best accepted and are motivated positively. Once the innovation
management systems are put to practice, you would find how things are
working for the best of your firm. There would be so many ways open
before you for implementation. Now you have to decide which would suit
your company the best. Once an idea works, the one who proposed the plan
should be appraised and rewarded appositely for encouragement. This
would set a great example of motivation among other employees within a
company.

Herbalife Marketing Tips 5 Critical Tips For Herbalife Success

The most critical information you will need if you’re looking to achieve massive Herbalife success, are some solid Herbalife marketing tactics.In this article, I’m going to give you 5 Herbalife marketing tips, that you can begin implementing into your business right away to start selling products and sponsoring distributors into your business.

Herbalife Marketing Tip #1: Discontinue Use Of Out-Dated Marketing Strategies

Most MLM sponsors are still teaching marketing methods that expired back in the 1980’s such as pitching your ‘warm market’ and wandering around in shopping malls handing out business cards. It’s these old school methods, in my opinion, that account for a 97% failure rate in the multi-level marketing industry. The reason for that is because unless you have a huge sphere of corporate influence (ie, you’re a CEO or have been an insurance agent for 20 years), you simply don’t know enough business minded people that are going to take the Herbalife business serious enough – even if you’re good enough at sales to push them into joining. The Internet is where up and coming Herbalife reps are flourishing, and you’ve got to get online if you expect to reach the top of the pay plan. Consequently, Herbalife marketing tips two through five are going to be made up of online Herbalife marketing techniques that you can bring into your business to help you go full time in the next 3 months.

Herbalife Marketing Tip #2: Establish a Blog – ‘www.workwithyourname.com’

Forget about your company website – and start a blog. If you send people to your replicated company website, there is one thing that will happen, and it will happen every time – people will land there, browse around for a couple minutes (or less), and leave. You won’t know if they are remotely interested in buying products, or joining your opportunity – and that’s a HUGE problem, especially if you’re doing any type of paid advertising. The other reason why your Herbalife webite won’t work is that i does not brand you at all, it brands the company. See, people don’t join businesses, they join people – leaders, to be more precise. A blog will display your leadership abilities from day one, and people will feel more comfortable joining you. Additionally, interested prospects can ‘opt in’ and let you know they are interested in learning more, by giving their name and email address (we will touch more on that in Herbalife marketing tip #2). I advise you to put together a wordpress blog. WordPress blogs are totally free. You will just need hosting and a domain name. Hosting costs about $5 per month, and a domain name is about $12.00. So for under $20.00, you are actually in business.

Herbalife Marketing Tip #3: Buy an Email Autoresponder

An email auto-responder that is attached to a lead capture webform on your blog is absolutely vital. The rationale behind this form is to be able to get the contact information from people who come on your blog so that you can get back to them with details. Now, in order for someone to want to give you their name and email, you must promise something in return. Your ‘free gift’ can be anything from a free report to an ebook, that provides value to your subscribers. For example, if your blog is all about the best home based business opportunity, then your ebook could reveal the ten steps to choosing a home based business. The idea here is that you are building a relationship with your prospects before you just go and pitch your business. There are millions of individuals in network marketing so if you want to achieve herablife success, standing out is an absolute must. An email auto-responder such as Aweber or Get Response will communicate with your prospects on autopilot and greatly help your Herbalife marketing efforts.

Herbalife Marketing Tip #4: Create Content For Your Blog

Once you have nailed down a target market, you can begin creating content in the form of articles and videos to help people that are searching for this information to find it. If you provide value first, you’ll get faithful subscribers to your blog, and once you’ve got that, you’ll have people that want to join your business without you having to pitch it to them. For example, if you’re goal is to find those who are trying to make money online, produce content that shows people how to do just that.

Herbalife Marketing Tip #5: Promote Your Blog

Promotion is the really imperative part of this entire process. If you produce a fine looking blog with great articles, but your’e not marketing it – then who will find it? Not a single soul! There are many methods of promotion, however the least expensive technique is article marketing. Since you’ve already created articles for your blog, all you need to do is post the articles in article directories such as Ezine Articles, and provide a link that goes back to your blog. The basic principle of this to get as many links going back to your blog as possible.

And if the Herbalife marketing tips above seem a little overwhelming in this short article, you’ll want to learn step-by-step, absolutely free, how the top earners in Herbalife are marketing their business and building six and even SEVEN figure incomes, by click the following link: Herbalife Success

Choosing An Erp System For Freight Forwarding And Logistics Business

The complex nature of the shipping and logistics industry combined with the fierce competition that exists in this sector brings unique challenges to the small and medium-sized operators. This makes it imperative that freight forwarding firms, non-vessel operating common carriers (NVOCCs), custom house agents, international freight brokers, shipping agents and cargo agents streamline their multifarious business operations to remain competitive. Deploying the right ERP system dedicated to logistics and freight forwarding can help firms efficiently realign and scale up their activities whilst being adaptable to the rapidly changing regulatory environment.

Whilst an ERP framework can go a long way in helping you integrate diverse business and operational functions, choosing an ideal freight forwarding software that allows you to manage, access, and share information coming from and going into various departments is not easy. Before planning and deploying an ERP system, it is important that businesses analyse their potential keeping the following factors in mind:-

Integration of all operational and accounting elements within a single platform

The most important factor to consider is the degree of integration your ERP allows. For instance, a small and medium-sized freight forwarding agent who uses different applications to manage functions, including freight management, customs brokerage, documentation, container tracking, shipment tracking and compliance services would benefit more if all the applications are integrated into a single master application based on Tally ERP 9 platform. This customised Tally solution makes the operation more efficient, cost effective and provides the owner with real-time visibility of in-bound/out-bound shipments and their corresponding payables/receivables.

Avoiding duplication due to centralization of multi-branch tasks

The second parameter to consider is to what extent the ERP system allows the centralization of key multi-branch tasks. Consider each branch of a multi-location shipping agency using a separate business accounting application. This will result in disconnected pools of data independent to each other causing unnecessary delay, disruption and data re-keying whereas the business owner needs real-time business and operations data monitoring. On the other hand, if the same agency decides to partner with a Tally services provider and deploy a centralized software application, it has a greater predictability of its operations. Since this scenario allows the master application to read, write and edit data to and fro from each of the branch offices, it helps business owners track shipment-wise payment, performance, profitability and outstanding details.

Enhanced financial control and greater visibility

The ERP system that you choose to implement should provide a greater financial control by cross-integrating data from operational tasks and data from actual transactions. The system should allow the owner to calculate the expected profit per shipment and then compare it to the shipment’s actual cost and profit (using the data from transactions, receivables, payables and brokerage expenses). This helps the owner to track each jobs profitability which in turn can help them to focus on future shipments/jobs that have a greater profitability ratio.

Quick information access, report generation, and data archiving

Information reporting, data archiving and data storage are all important aspects of the logistics and shipping business. The ERP system should be able to generate and archive reports, including balance sheets, shipping-related MIS reports, packing lists, purchase orders and multiple invoices for different chain partners and quotations. Furthermore, cargo documents, including Cargo Arrival Advice (CAA), Cargo Arrival Notice (CAN), Delivery Order (DO) and House Bill of Lading (HBL) should be directly generated from the application. This helps business owners not only to retrieve but send these documents directly from the system to the logistical chain partners.

The Music Industry

There are many people, especially high school and college students, who are interested in the music industry from the perspective of a musician or artist. However, there are many other avenues available to those interested in the music industry and the website www.tourdoggsecrets.com offers tips on how to become an artist tour manager. Professional tour manager Larry Stevenson lends his twenty years of touring experience in an eManual called “Tour Dogg Secrets,” available at the aforementioned website. However, the eManual is only part of the attraction of the site and those interested in a career in the music industry should certainly consult this site. There are many tidbits of information and instruction to draw in viewers to the inexpensive Tour Dogg Secrets guide to artist tour management.

It is important for someone in the music industry to first figure out why they are interested in becoming a tour manager or a musician. Larry Stevenson says that many people, including himself, have moments in their life where they realize that they want to help other people out while doing something they love. To Stevenson and others, this avenue is managing at the heart of the music industry, the tour and festival circuit. Music can influence millions of people, and Stevenson points out that the act of helping musicians get their music out in the most direct way to people, via concerts, is something to be proud of. Certainly, fame and fortune are some of the motivations for entering the music industry, but having that desire to help is key to all of the other benefits to a music industry career.

The website goes into detail as to the job duties of an artist tour manager. For musicians and other music personnel, the artist tour manager is a critical piece of a successful tour. The manager deals with every single aspect of touring logistics, including the availability of ethnic and vegetarian restaurants, the exchange of money on international tours, and the transportation of tour gear from one site to another. While these tasks on their own may seem to be something that artists or other personnel can focus on, the tour manager allows a tour to have a centralized source of information that is expert in how to resolve logistics problems. In some places, it may be difficult to find a vegetarian or a kosher restaurant or it might be difficult to understand exchange rates in place overseas. With the skills learned in Tour Dogg Secrets, people from every background can learn to become experts in managing music tours.

In addition to planning tour logistics, an artist tour manager also ensures that the smallest of details on tour get executed to perfection. An artist tour manager is responsible for checking in artists and members of the music groups into hotels, airports, and music festivals. The manager can then be the one contact person that anyone from the hotel, airline, or festival management can go to if there is a question or issue that comes up. As well, the artist tour manager is responsible for distributing per diem funds to musicians and planning out sound check, including the arrangement of speakers and instruments according to stage plans. Finally, an artist tour manager is a key disseminator of information, including contractual obligations and the limitations of space according to stage plans. While all of these tasks may seem to be daunting to the newcomer, Larry Stevenson’s eManual and website offers all of the tools to success for anyone interested in breaking into the music industry. The eManual goes through the step by step processing of becoming an artist tour manager and having a successful career. The breadth of knowledge detailed in Stevenson’s eManual is enough that the material is not just for up-and-coming artist tour managers but for current managers and musicians. The Tour Dogg Secrets website includes a great deal of testimonials from people who have benefited from Larry Stevenson’s tutelage over the last twenty years. Artists like Fontella Bass and Oliver Lake not only attribute their rise in the music industry to the assistance of artist tour managers, but also have taken it upon themselves to learn how to do things like contract management and tour logistics so that festival and tour appearances go more smoothly. Musicians should understand all aspects of the business even if they delegate the actual execution of logistics to their artist tour managers. The artist’s understanding of basic travel logistics allows for easier troubleshooting skills on the road and an appreciation for the work of artist tour managers.

Open Innovation for Mobile and Telecom Brands

The most crucial element that contributes to a brand’s success
and longevity in today’s competitive era is, streamlining the process
of idea management and open innovation. In the recent past, we have seen
numerous creative initiatives taken by the mobile and telecommunication
brands in terms of compelling advertisements, online PR and branding
campaigns and many more. The objective behind all this is to deepen
their audience connect, that would result in better revenue, goodwill,
positive word of mouth publicity and solutions to business concerns.

Leading mobile giant Nokia sought help from the
process of open innovation sometime back. The famous Nokia tune known as
“Grand Valse” is one of the most recognized tunes in the world.
However, the brand wanted to come up with a fresh version of the same.
For this, Nokia launched a global crowd sourcing competition encouraging
people to create a new tune to be included in their 2012 product
portfolio along with the original tune. This competition witnessed the
creative inputs from young composers and musicians who used instruments
like pianos, ukuleles and trash cans to come up with a contemporary
version of the iconic Nokia tune initially launched in 1994. A panel of
judges were assigned to select the best tune that was original,
expressive and was distinctly the Nokia Tune in a remixed format.

Could
anyone have imagined that the latest Nokia Tune that audiences listen
to all over the world has been contributed by one of them? Perhaps a
decade back such an initiative would have been a rare phenomenon. Today
the story is diffrent. Mobile and telecom brands have realized that the
audience at large is their biggest source of ideas. Even an average
person having zero experience on how the telecom sector functions can
come up with a revoluationary thought that can enhance an organization’s
productivity and brand recall value exceptionally.

Leading
telecom brand Vodafone too resorted to crowdsourcing with respect to
innovative uses of wireless technology, The Vodafone Americas Foundation
came up with a Wireless Innovation Project in the form of an open
competition, This was done to increase implementation and promote
innovation associated with technology for an improved world. This
competition welcomed people to share their creative ideas about putting
wireless technology into action. Innovators and entrepreneurs from
uncharted territories took part in this competition contributing their
visionary ideas.

Mobile and telecommunication technology is used
by everyone globally. Hence, the way people experience its benefits they
also witness the loopholes. According to eminent brands of this
industry vertical, it is this “people” whose thoughts and viewpoints
matter in enhancing the product range. Modern day idea management
solutions helps mobile and telecom brands to attain the same and create
an atmosphere of knowledge sharing.