3. Learning from Mistakes
Concentrate on the value of the product for
pricing
Aggressive price cutting makes it difficult
to recover the costs
Fell a prey to Price war in the marketMistake
Learning
Application
3
Celfie
Cameras
Inc.
4. Best combination of alternatives should be
chosen after evaluation
Labour costs and its productivity have
direct implication on Profits
Improper cost benefit analysis of
compensation and laborMistake
Learning
Application
4
Learning from Mistakes
Celfie
Cameras
Inc.
5. Synchronization among different
departments
Cost Price Operating Losses
(High Marketing) (Price sensitive)
Ignoring the impact of Marketing
Expenditure on total costMistake
Learning
Application
5
Learning from Mistakes
Celfie
Cameras
Inc.
6. Product development should be gradual
and cost effective
Focus on the timeline for developing the
product
Drastic increase in P/Q rating in initial
stagesMistake
Learning
Application
6
Celfie
Cameras
Inc. Learning from Mistakes
7. In depth analysis of reports
Loss from Entry level product was offset by
Profit from Multi featured product
Overlooking the segregated profits of
product linesMistake
Learning
Application
7
Celfie
Cameras
Inc. Learning from Mistakes
8. Effective time management
Allocation of time to every department
Hasty decisionsMistake
Learning
Application
8
Celfie
Cameras
Inc. Learning from Mistakes
9. Effective sales forecast is the key to success
Make decision by strategy and not on
projection
Improper ForecastingMistake
Learning
Application
9
Celfie
Cameras
Inc. Learning from Mistakes
10. Clarity in vision and objectives
Revenue is not the only factor for
Company’s success
Too much focus on increasing RevenueMistake
Learning
Application
10
Celfie
Cameras
Inc. Learning from Mistakes
11. CSR helps the company to sustain in the
market and increase the brand image
Image rating plays a major role in market
position
Avoiding expenditure on Corporate Social
ResponsibilityMistake
Learning
Application
11
Celfie
Cameras
Inc. Learning from Mistakes
12. Other Learning
• Proper understanding of the Participation Guide
(PAT Training- diminishing )
• Business strategies should be inimitable
• Market dynamics - Adaptable strategy
• Team Work and co-ordination
• Efficient cash management- timely loan repayment
• Competitor Analysis
12
Celfie
Cameras
Inc.