This document provides guidance for business leaders on how to lead their organizations through times of change and economic downturn. It recommends focusing on solutions rather than problems, establishing new targets and priorities aligned with the current environment. It emphasizes increasing productivity through initiatives like improving employee innovation, strengthening customer relationships and supplier partnerships. Leaders are advised to simplify processes, demonstrate entrepreneurship through actions, treat all stakeholders with dignity and respect, and lead with optimism.
The document provides tips on how to maximize valuable employees by reducing turnover. It discusses holding employees accountable while also creating a rewarding workplace. Specific strategies include being clear on expectations by defining values and vision, training employees, regularly reviewing performance, and paying employees based on their performance. Reducing turnover saves money because replacing employees costs an average of $10,000. The presenter advocates setting clear expectations, ongoing training, measuring performance, and incentivizing top performers.
An Introduction to Hiring for The Modern CSMTim White
Customer Success Managers are a unique breed: They need to have the right combination of technical ability and customer-facing experience to manage demos and implementations with customer feedback. In this eBook, you'll learn who they are, what they do, and what you should pay them. Also included is an in-depth interview with New Relic on how they built their Dream Team of CSMs.
Hr Guide To Enhance Employee Moral And ProductivenessLakesia Wright
This document outlines 11 ways to increase employee loyalty and engagement. It discusses measuring engagement through surveys, promoting a sense of being helpful through empowering employees and secret shoppers, improving competence through training programs and mentoring, building acceptance through team building, and gaining respect through transparency, good management, and recognition. Technology can help understand employee feedback to better manage engagement. Overall engaging employees leads to higher productivity, retention, and positive business outcomes.
1. The document discusses 8 reasons why companies are not creating value, including being taught to focus on short-term profits and shareholder wealth instead of customer value creation.
2. It argues that companies should adopt a mindset of value creation that goes beyond just doing their job to proactively increase value for customers, stakeholders, and shareholders.
3. When companies focus on creating customer value through positive experiences and minimizing complaints, it leads to increased customer loyalty, market share, and ultimately shareholder value.
- Gerald and Jasmine Mortimer own an accounting firm that has been growing but their new employees lack motivation. Clients are threatening to leave due to poor performance and feedback.
- 10% of employees have increased their sick leave in the last year. The employees also cannot work efficiently in teams.
- To address these issues, the document recommends reimplementing benefits to motivate employees. It also suggests hiring human resources staff, team building activities, and rewarding high performing teams. This will improve motivation and performance while reducing sick leave.
The document provides tips on how to maximize valuable employees by reducing turnover. It discusses holding employees accountable while also creating a rewarding workplace. Specific strategies include being clear on expectations by defining values and vision, training employees, regularly reviewing performance, and paying employees based on their performance. Reducing turnover saves money because replacing employees costs an average of $10,000. The presenter advocates setting clear expectations, ongoing training, measuring performance, and incentivizing top performers.
An Introduction to Hiring for The Modern CSMTim White
Customer Success Managers are a unique breed: They need to have the right combination of technical ability and customer-facing experience to manage demos and implementations with customer feedback. In this eBook, you'll learn who they are, what they do, and what you should pay them. Also included is an in-depth interview with New Relic on how they built their Dream Team of CSMs.
Hr Guide To Enhance Employee Moral And ProductivenessLakesia Wright
This document outlines 11 ways to increase employee loyalty and engagement. It discusses measuring engagement through surveys, promoting a sense of being helpful through empowering employees and secret shoppers, improving competence through training programs and mentoring, building acceptance through team building, and gaining respect through transparency, good management, and recognition. Technology can help understand employee feedback to better manage engagement. Overall engaging employees leads to higher productivity, retention, and positive business outcomes.
1. The document discusses 8 reasons why companies are not creating value, including being taught to focus on short-term profits and shareholder wealth instead of customer value creation.
2. It argues that companies should adopt a mindset of value creation that goes beyond just doing their job to proactively increase value for customers, stakeholders, and shareholders.
3. When companies focus on creating customer value through positive experiences and minimizing complaints, it leads to increased customer loyalty, market share, and ultimately shareholder value.
- Gerald and Jasmine Mortimer own an accounting firm that has been growing but their new employees lack motivation. Clients are threatening to leave due to poor performance and feedback.
- 10% of employees have increased their sick leave in the last year. The employees also cannot work efficiently in teams.
- To address these issues, the document recommends reimplementing benefits to motivate employees. It also suggests hiring human resources staff, team building activities, and rewarding high performing teams. This will improve motivation and performance while reducing sick leave.
The document advertises a one-day workshop for business executives on unlocking profit from employees. It promotes using enterprise mentoring tools and Enterprise 2.0 technologies to engage employees, increase customer retention, leverage employee talent for innovation, and turn employees into salespeople. Attendees will learn how to maximize manager effectiveness, develop talent, boost employee motivation and performance without financial incentives, and create an agile workforce aligned with company goals.
This article discusses selling a motel business and outlines the steps involved:
1. Contact a LINK business broker early in the process to provide financial documents and business details confidentially.
2. The broker will appraise the business value and prepare a listing agreement at an agreed upon price.
3. An information memorandum will be made available to qualified prospective buyers who sign a confidentiality agreement.
4. Ensure the business and manager's residence are well-maintained and presented neatly to make a good impression on buyers viewing the property.
Marketing they don't teach you at business school!Andrew Pearson
The Best Way To Manage The
Customer Journey
Getting your marketing right is critical to your success, but many people who manage – or run their own – businesses have never been shown the best way to do it. This costs them tens or even hundreds of thousands of pounds in wasted effort, time and resources, not to mention all the lost business.
Marketing is not about trying to persuade some faceless aggregation of customers to see it your way. It is about a dialogue over time with a specific group of customers whose needs you understand in depth and for whom you develop an outstanding offer over the offers of competitors.
This document promotes increasing business profits and reducing employee turnover through improving company culture. It claims most businesses fail to focus on retaining quality employees and increasing production, which are the only two things that truly matter. A story is presented about how one company revolutionized its culture by hiring a new CEO based on personality and skills rather than experience. The document argues for assessing company culture and turnover, and implementing strategies to attract and retain the right cultural fits through an open door policy, employee empowerment, and constant feedback. Applying these techniques could increase profits by 5-50% within 3 months by reducing turnover by 25-50%.
2015 09 EFAdvisor Article - How to Reinvent Your Mature Business With Young (...William (Bill) Verhelle
Bill Verhelle offers eight suggestions for hiring and retaining young tech-savvy workers in mature businesses: 1) Interview differently to assess attitude and interests rather than past accomplishments; 2) Communicate transformative goals to motivate staff; 3) Isolate new hires in cross-functional teams to test new ideas without approval from existing managers; 4) Assign inspired young managers committed to staff development to lead the new teams.
This e-book provides 8 tips for startups: 1) Get a mentor for advice and connections, 2) Have a savings fund for unexpected expenses, 3) Expect no salary in the startup phase, 4) Develop a solution to a market need, 5) Become a networker to build relationships, 6) Plan and budget cashflow tightly, 7) Work twice as hard as employees, 8) Understand technology and market trends. It also advertises C8 Chartered Accountants for business services like accounting, tax, and consulting. The author, Royston Benjamin, founded C8 CA to provide personalized services to entrepreneurs.
This document discusses how to build a successful brand and high-performing team. It emphasizes the importance of having a clear brand vision and objectives focused on distinction, added value, quality, structured communications, direction, and innovation. It also stresses the importance of open communication, clear roles and goals, leadership support, and coordination within a team to achieve projects effectively. Regular updates and participation from leadership helps build trust while allowing independence. The key is properly aligning all members' efforts like a puzzle to achieve success.
This document discusses how to build a successful brand and high-performing team. It emphasizes the importance of having a clear brand vision and objectives focused on distinction, added value, quality, structured communications, direction, and innovation. It also stresses the importance of open communication, clear roles and goals, leadership support, and coordination within a team to achieve projects effectively. Regular updates and participation from leadership helps build trust while allowing independence. The key is properly aligning all members' efforts like a puzzle to achieve success.
This document provides terms and conditions for a legal notice. It strives to be accurate while noting that errors may occur. It assumes no responsibility for errors, omissions, or interpretations. Practical advice is provided, but readers are advised to rely on their own judgment. The document is not intended as a source of legal, business, or financial advice.
It is time to conduct a “reset” exercise and put employee
engagement back in its proper place and perspective. This paper
identifies five areas that our research has shown to be
potentially troublesome for companies - especially in terms of
helping them frame their expectations in the most reasonable,
realistic and productive ways. We have discussed them here to
help you understand the true power of aligning employee drives
and needs with those of your company
» How are you different?
» What are your competitive advantages?
Key Objective:
Help us understand how you compare to alternatives and validate your differentiation.
20
NOTES
» Identify direct and indirect competitors.
» Outline competitive landscape - who are the key players, their strengths/weaknesses, funding status.
» Position yourself relative to competitors - where do you play?
» Clearly articulate your differentiation and competitive advantages.
» Address any perceived weaknesses head-on.
» Cite third party reports, analyst coverage to validate your claims about the competitive landscape and
your position within it.
» Discuss barriers to entry for potential new competitors.
- What are
This document provides an overview of resources for starting a small business, including guidance on evaluating if entrepreneurship is right for you based on your strengths and weaknesses. It discusses different business structures like sole proprietorships, partnerships, and corporations. The document outlines how to write an effective business plan, covering components like marketing, operations, and financial projections. It also offers tips on securing financing, such as considering personal savings, friends and family, banks, credit unions, or venture capital. The summary evaluates key factors for entrepreneurs to consider when starting and managing a successful small business.
The document discusses the business case for strategic talent onboarding. It argues that effective onboarding leads to improved business outcomes like faster time to productivity for new hires, higher employee retention rates, and decreased costs from reducing attrition. Specifically, it notes that strategic onboarding that treats the process as ongoing rather than an event and leverages an organization's employment brand can help accelerate productivity, increase retention in the first year, and improve overall business results.
The document discusses how to structure companies so that employees act like owners through creating "businesses within the business". It provides examples of companies that have done this successfully, including:
- Morning Star Foods, where workers manage themselves in peer-to-peer relationships and business units negotiate agreements like small businesses.
- Nordstrom, where salespeople have autonomy to make decisions and operate their own "stores" within the larger company.
- Rational Software, where cross-functional teams operated autonomously as stand-alone pods to serve customers.
- Semco, a Brazilian conglomerate that uses democratic management where workers have autonomy over decisions.
The document argues this "podular" structure
This document provides an overview of the coaching and consulting services offered by Convergenz, LLC. Convergenz offers executive coaching to help with work-life balance, leadership development, and stabilizing cash flow. Their consulting services include strategic planning, organizational effectiveness, industry research, and exit strategies. The document includes examples of common issues they address in coaching and describes their areas of consulting expertise.
For Simon Fuller, finance director of retail operations for Tesco, creating an optimized finance department means supporting staff, customers, and shareholders. He focuses on developing staff skills, ensuring finance has credibility through experience in stores and depots, and facilitating cross-functional collaboration. Fuller also works to simplify complex processes, identify broad themes from data, and advise on balancing investment between new areas and the core business to optimize resource use.
The document discusses strategies for hiring and socializing new employees, including pre-offer planning, ranking recruits, extending job offers, and orienting and integrating new hires into the company culture through various socialization processes. It emphasizes the importance of effective communication, training, and support systems like mentoring programs to help new employees learn their roles and feel comfortable in the workplace.
The document discusses getting employees to think and act like owners of a business. It emphasizes establishing goals that will last forever, such as providing sufficient profit to enhance the standard of living for all associated with the business, and providing the highest quality products and services. It also discusses developing strategies like a written marketing plan, personnel strategies, an operational plan, and a dynamic financial plan to achieve these business goals and get employees invested in the long-term success of the company.
The newsletter provides career advice and opportunities through Kelly Services. It discusses resolving to get a pay raise, promotion, or new career in 2013. Tips include proving your value to get a raise, learning new skills for a promotion, and researching and networking to find a new career without quitting your current job. It also lists current job openings and fun facts about Kelly Services.
The document discusses succession planning for family-owned construction businesses. It notes that only 20-33% of such businesses survive to the next generation due to lack of proper planning. The key aspects of succession planning discussed are choosing a successor, valuing the business accurately, protecting the owner's credit reputation, and structuring the transfer of ownership to minimize tax liability. It stresses the importance of training successors over time and strengthening the business before transitioning ownership.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise boosts blood flow, releases endorphins, and promotes changes in the brain which help enhance one's emotional well-being and mental clarity.
This document outlines a Post Graduate Diploma in IC Layout Design program consisting of 2 semesters. The first semester includes 5 courses covering analog VLSI design, digital VLSI design, CMOS technology, IC layout design, and IPR management. The second semester consists of a semester-long project involving VLSI layout design or analysis from an IPR perspective. Successful completion of the program qualifies students with a BE/BTech or related degree for careers in IC layout design.
The document advertises a one-day workshop for business executives on unlocking profit from employees. It promotes using enterprise mentoring tools and Enterprise 2.0 technologies to engage employees, increase customer retention, leverage employee talent for innovation, and turn employees into salespeople. Attendees will learn how to maximize manager effectiveness, develop talent, boost employee motivation and performance without financial incentives, and create an agile workforce aligned with company goals.
This article discusses selling a motel business and outlines the steps involved:
1. Contact a LINK business broker early in the process to provide financial documents and business details confidentially.
2. The broker will appraise the business value and prepare a listing agreement at an agreed upon price.
3. An information memorandum will be made available to qualified prospective buyers who sign a confidentiality agreement.
4. Ensure the business and manager's residence are well-maintained and presented neatly to make a good impression on buyers viewing the property.
Marketing they don't teach you at business school!Andrew Pearson
The Best Way To Manage The
Customer Journey
Getting your marketing right is critical to your success, but many people who manage – or run their own – businesses have never been shown the best way to do it. This costs them tens or even hundreds of thousands of pounds in wasted effort, time and resources, not to mention all the lost business.
Marketing is not about trying to persuade some faceless aggregation of customers to see it your way. It is about a dialogue over time with a specific group of customers whose needs you understand in depth and for whom you develop an outstanding offer over the offers of competitors.
This document promotes increasing business profits and reducing employee turnover through improving company culture. It claims most businesses fail to focus on retaining quality employees and increasing production, which are the only two things that truly matter. A story is presented about how one company revolutionized its culture by hiring a new CEO based on personality and skills rather than experience. The document argues for assessing company culture and turnover, and implementing strategies to attract and retain the right cultural fits through an open door policy, employee empowerment, and constant feedback. Applying these techniques could increase profits by 5-50% within 3 months by reducing turnover by 25-50%.
2015 09 EFAdvisor Article - How to Reinvent Your Mature Business With Young (...William (Bill) Verhelle
Bill Verhelle offers eight suggestions for hiring and retaining young tech-savvy workers in mature businesses: 1) Interview differently to assess attitude and interests rather than past accomplishments; 2) Communicate transformative goals to motivate staff; 3) Isolate new hires in cross-functional teams to test new ideas without approval from existing managers; 4) Assign inspired young managers committed to staff development to lead the new teams.
This e-book provides 8 tips for startups: 1) Get a mentor for advice and connections, 2) Have a savings fund for unexpected expenses, 3) Expect no salary in the startup phase, 4) Develop a solution to a market need, 5) Become a networker to build relationships, 6) Plan and budget cashflow tightly, 7) Work twice as hard as employees, 8) Understand technology and market trends. It also advertises C8 Chartered Accountants for business services like accounting, tax, and consulting. The author, Royston Benjamin, founded C8 CA to provide personalized services to entrepreneurs.
This document discusses how to build a successful brand and high-performing team. It emphasizes the importance of having a clear brand vision and objectives focused on distinction, added value, quality, structured communications, direction, and innovation. It also stresses the importance of open communication, clear roles and goals, leadership support, and coordination within a team to achieve projects effectively. Regular updates and participation from leadership helps build trust while allowing independence. The key is properly aligning all members' efforts like a puzzle to achieve success.
This document discusses how to build a successful brand and high-performing team. It emphasizes the importance of having a clear brand vision and objectives focused on distinction, added value, quality, structured communications, direction, and innovation. It also stresses the importance of open communication, clear roles and goals, leadership support, and coordination within a team to achieve projects effectively. Regular updates and participation from leadership helps build trust while allowing independence. The key is properly aligning all members' efforts like a puzzle to achieve success.
This document provides terms and conditions for a legal notice. It strives to be accurate while noting that errors may occur. It assumes no responsibility for errors, omissions, or interpretations. Practical advice is provided, but readers are advised to rely on their own judgment. The document is not intended as a source of legal, business, or financial advice.
It is time to conduct a “reset” exercise and put employee
engagement back in its proper place and perspective. This paper
identifies five areas that our research has shown to be
potentially troublesome for companies - especially in terms of
helping them frame their expectations in the most reasonable,
realistic and productive ways. We have discussed them here to
help you understand the true power of aligning employee drives
and needs with those of your company
» How are you different?
» What are your competitive advantages?
Key Objective:
Help us understand how you compare to alternatives and validate your differentiation.
20
NOTES
» Identify direct and indirect competitors.
» Outline competitive landscape - who are the key players, their strengths/weaknesses, funding status.
» Position yourself relative to competitors - where do you play?
» Clearly articulate your differentiation and competitive advantages.
» Address any perceived weaknesses head-on.
» Cite third party reports, analyst coverage to validate your claims about the competitive landscape and
your position within it.
» Discuss barriers to entry for potential new competitors.
- What are
This document provides an overview of resources for starting a small business, including guidance on evaluating if entrepreneurship is right for you based on your strengths and weaknesses. It discusses different business structures like sole proprietorships, partnerships, and corporations. The document outlines how to write an effective business plan, covering components like marketing, operations, and financial projections. It also offers tips on securing financing, such as considering personal savings, friends and family, banks, credit unions, or venture capital. The summary evaluates key factors for entrepreneurs to consider when starting and managing a successful small business.
The document discusses the business case for strategic talent onboarding. It argues that effective onboarding leads to improved business outcomes like faster time to productivity for new hires, higher employee retention rates, and decreased costs from reducing attrition. Specifically, it notes that strategic onboarding that treats the process as ongoing rather than an event and leverages an organization's employment brand can help accelerate productivity, increase retention in the first year, and improve overall business results.
The document discusses how to structure companies so that employees act like owners through creating "businesses within the business". It provides examples of companies that have done this successfully, including:
- Morning Star Foods, where workers manage themselves in peer-to-peer relationships and business units negotiate agreements like small businesses.
- Nordstrom, where salespeople have autonomy to make decisions and operate their own "stores" within the larger company.
- Rational Software, where cross-functional teams operated autonomously as stand-alone pods to serve customers.
- Semco, a Brazilian conglomerate that uses democratic management where workers have autonomy over decisions.
The document argues this "podular" structure
This document provides an overview of the coaching and consulting services offered by Convergenz, LLC. Convergenz offers executive coaching to help with work-life balance, leadership development, and stabilizing cash flow. Their consulting services include strategic planning, organizational effectiveness, industry research, and exit strategies. The document includes examples of common issues they address in coaching and describes their areas of consulting expertise.
For Simon Fuller, finance director of retail operations for Tesco, creating an optimized finance department means supporting staff, customers, and shareholders. He focuses on developing staff skills, ensuring finance has credibility through experience in stores and depots, and facilitating cross-functional collaboration. Fuller also works to simplify complex processes, identify broad themes from data, and advise on balancing investment between new areas and the core business to optimize resource use.
The document discusses strategies for hiring and socializing new employees, including pre-offer planning, ranking recruits, extending job offers, and orienting and integrating new hires into the company culture through various socialization processes. It emphasizes the importance of effective communication, training, and support systems like mentoring programs to help new employees learn their roles and feel comfortable in the workplace.
The document discusses getting employees to think and act like owners of a business. It emphasizes establishing goals that will last forever, such as providing sufficient profit to enhance the standard of living for all associated with the business, and providing the highest quality products and services. It also discusses developing strategies like a written marketing plan, personnel strategies, an operational plan, and a dynamic financial plan to achieve these business goals and get employees invested in the long-term success of the company.
The newsletter provides career advice and opportunities through Kelly Services. It discusses resolving to get a pay raise, promotion, or new career in 2013. Tips include proving your value to get a raise, learning new skills for a promotion, and researching and networking to find a new career without quitting your current job. It also lists current job openings and fun facts about Kelly Services.
The document discusses succession planning for family-owned construction businesses. It notes that only 20-33% of such businesses survive to the next generation due to lack of proper planning. The key aspects of succession planning discussed are choosing a successor, valuing the business accurately, protecting the owner's credit reputation, and structuring the transfer of ownership to minimize tax liability. It stresses the importance of training successors over time and strengthening the business before transitioning ownership.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise boosts blood flow, releases endorphins, and promotes changes in the brain which help enhance one's emotional well-being and mental clarity.
This document outlines a Post Graduate Diploma in IC Layout Design program consisting of 2 semesters. The first semester includes 5 courses covering analog VLSI design, digital VLSI design, CMOS technology, IC layout design, and IPR management. The second semester consists of a semester-long project involving VLSI layout design or analysis from an IPR perspective. Successful completion of the program qualifies students with a BE/BTech or related degree for careers in IC layout design.
The document discusses strategies for a top executive team taking over a large company that was close to bankruptcy. It emphasizes the need to quickly identify the "Big Business Opportunity", appoint the right CEO, and accelerate the change process. The team worked around the clock to analyze finances, time the acquisition correctly, and close the $1.3 billion deal within two weeks. They helped the board define the opportunity as achieving both cost leadership and market leadership. Identifying the right competitive advantages and CEO who could flawlessly execute the strategy were essential to qualifying for the "World Cup of Corporate Outperformance." The process involved defining clear goals and KPIs to be achieved within 12 months through an accelerated, results-driven change process.
This document proposes an app called "Mr. Awesome" that would provide prerecorded on-demand compliments to women via smartphone. It would offer categories of compliments like "sick day" or "bad day at work" that could be delivered immediately, on a schedule, or randomly. The app aims to target the large market of 80M+ female smartphone users, especially women ages 16-25. It argues that the app has viral potential by addressing women's emotional needs and creating reinforcing behavior, and that it could gain traction through existing contacts and social media promotion since apps don't need to be technologically advanced to succeed.
Jack Coleman of EnergyNorthAmerica, LLC recently gave the American Keynote Speech at the 2010 Ordos International Forum on Clean Energy and the Green Economy, held in Ordos, Inner Mongolia, China. Details the importance that fossil fuels will continue to play in the world's energy future, and the importance of making them clean.
The company has been in business since 2002 providing website design and development services as well as hosting services. It has over 1000 websites, 800 customers, and 22 employees. The company serves medium sized customers in the medium price range and focuses on providing a return on investment. It is franchising its sales function and is looking for franchisees with relationship building, business, and entrepreneurial skills who are committed to selling its website development and hosting services.
The document summarizes the story of the Annunciation from the Gospel of Luke, where the angel Gabriel visits Mary and tells her she will conceive and give birth to Jesus. Mary is initially troubled by the message but accepts her role as the mother of Jesus. The document then discusses how Mary's story may be difficult for others to believe and the consequences of God's actions. It suggests God asks us to do hard things for the coming of His kingdom.
The document summarizes a microwave-based system for disinfecting biomedical waste as a cleaner alternative to incineration. Key points:
- 50% of biomedical waste in India is untreated, posing health and environmental risks.
- The proposed microwave system provides low-cost, pollution-free waste disinfection and enables compliance with regulations.
- With a $10,000 entry-level model versus $100,000 for imported systems, the technology has significant market potential in India's $200 million waste disinfection industry.
Quotes by Srila Bhaktisiddhanta Sarasvati ThakuraAvinash Nadig
This document contains over 60 quotes from Srila Bhaktisiddhanta Sarasvati Thakura, the spiritual master of Srila Prabhupada, on various topics related to devotional service, the spiritual master, chanting the Hare Krishna maha-mantra, and serving Krishna. The quotes emphasize the importance of associating with devotees, chanting the holy name, serving Krishna and the spiritual master, and avoiding material attachments.
Doublingyourrevenueeveryyear 140915013106-phpapp02Nicola Van Hoff
The document outlines nine practices for doubling revenue every year, as advocated by the CEO of MergerTech Advisors. The practices include considering oneself the head of sales, making doubling revenue a strategic goal, focusing on growing existing accounts as much as new ones, seeing all employees as salespeople, and considering inorganic growth through acquisitions. Following these practices can help companies experience virtuous cycles of improved operations and satisfaction of stakeholders, leading to increased company value.
High turnover in customer service can be costly for businesses. It indicates issues like products being too complex for representatives to fully understand, a lack of adequate rewards and benefits, and a failure to share ideas between employees and management. To improve turnover, businesses should implement continuous training programs on all operations aspects, incentive plans with realistic targets, one-on-one sessions for employees to share experiences and solutions, and timely performance updates focused on reducing errors.
Air Asia is Asia's leading airline that was established in 2001. It aims to make flying accessible to everyone. While Air Asia has experienced rapid growth, expanding to over 20 countries, it must prepare for and manage the challenges of continued expansion. This includes maintaining strong financial relationships as needs increase, hiring the right people, focusing on customers, and establishing quality control systems. Warning signs of growing too fast include borrowing to meet costs, overworked employees, mounting complaints, and tight profit margins. Careful planning is needed to successfully handle each stage of a company's growth.
On March 30, the Corporate Learning Network held its long awaited Drucker Master Class Day – led by celebrated Drucker management guru, Dr. Bernard Jaworski, Professor at the Peter F. Drucker and professor at the Peter F. Drucker and Masatoshi Ito Graduate School of management.
The document provides information on running a business successfully, including:
- Key topics that will be covered are the meaning and definition of business, factors for business success, how to run a business, and tips for a successful business.
- Some of the most important factors that can impact business success are market demand, building the right team, leadership preparation, networking, competitive analysis, pricing strategy, and long-term goals.
- To run a business well requires skills like great marketing, drafting a clear business plan, innovating, developing a strong company culture, focusing on financial goals, refining processes, using the right tools, and having a support system. Maintaining organization, records, creativity, focus,
The document provides guidance on managing a successful hospitality business through focusing on people, processes, partnerships, and leadership and organizational culture. It emphasizes the importance of consciously evaluating whether these elements are helping or hindering the business. Key aspects of success include understanding values, training, reputation, and productivity impacts of processes; ensuring partnerships help rather than hinder; and cultivating leadership characteristics like humility, learning, communication, and inspiration.
Buyers want a business with a proven track record of consistent financial performance with solid, growing revenue and earnings. Yet most businesses are rather flabby when it comes to fiscal fitness. Focusing on the top financial drivers of business value will make it easier to sell your business and get you more money - then as well as now. Many businesses are dependent on the owner for success. If you want to add value, be sure you have systems running the business and a great team running those systems. Like financial and organizational factors, operational factors can add or take away value.
Why is a great company culture so rare? How can you make sure your organization has one? The good news is that creating an inspiring and sustainable culture is not as hard as you might think. Dr. David “Doc” Vik reveals the keys to success in The Culture Secret.
A remarkable culture begins with visionary leaders who help their teams take a holistic approach to creating engagement inside their companies and sharing it with customers. Discover how to take culture beyond casual Friday and into more meaningful conversations like:
•Driving Vision
•Defining Purpose
•Clear business model
•Unique/WOW factors
•Meaningful Values
•Inspired Leadership
•Great customers and customer service
•Brand enhancement
•Experience and the emotional connection
If you don’t think you have to focus on attracting—and retaining—the best employees in today’s hypercompetitive war for talent, you are living in the past. The employees and customers of today have a choice and a voice. The secret to culture is simple: take care of your people, never stop innovating, and leave customers wowed. Build a better culture to secure the future for any organization
A business Succession and Exit Planning can provide an immediate increase in business value. In addition, our Succession and Exit Plans preserve the value of the business and provides protection for the business, the owner and their family. A well developed Succession and Exit Planning allows a business owner to retain control of their company regardless of what the future may bring.
In our Succession and Exit Plans, we also explore exit strategies and create tactics to achieve a business owners exit goals. We set goals and groom a business for transfer (sale). We explore the effect of income, capital gains, estate and gift taxes, as well as addressing the particular complexities of a transfer (sale) to third parties, family members or key employees.
For more information go the the following website: www.fortunebta.com
- nem was founded in 2001 by three former senior executives to assist organizations accelerate their business objectives through non-conventional consulting approaches focused on identifying blockages and ensuring management understands barriers.
- nem has grown to over 40 principals operating nationally from three offices, making it arguably Australia's largest boutique consulting firm serving the SME market between $2-100M annual turnover.
- nem relies on principal expertise to undertake reviews, identify strategies, and document implementation programs to guide clients internally and with external providers. This contrasts with conventional consulting's reliance on commercially inexperienced staff.
The document discusses whether it is a good time to become an entrepreneur given the current economic recession. It notes that jobs are being cut worldwide and stimulus packages will take time to boost economies. True entrepreneurs shift low-yield activities to higher-yield ones and view change as normal. While starting a business requires capital and dealing with criticism, practicing an "entrepreneur's mental model" within one's current job can help create value for customers and take advantage of new opportunities that arise from change. The document provides tips for both aspiring and existing entrepreneurs to sustain their businesses during difficult economic times.
5 tips for customer experience transformationTarang Rai
Customer experience is not immobile, it’s a process that needs to be transformed with innovation. You need to keep on innovating customer experience by developing new product ideas, making processes and policies that are convenient for your users and creating new ways for customers to access value. So, what you deliver to our customers is not just enough, it’s how you deliver.
6 WAYS TO ADD VALUE TO YOUR ORGANIZATION & ADVANCE YOUR CAREER by Dr.Mahboob ...Healthcare consultant
With every task you take on, ask yourself: How can I add value to this? And every time you achieve one of these value-add outcomes, measure the results and write them down. How much money did you save or earn? How much did efficiency or quality improve? What is the long-term impact of fixing or preventing that problem? The information you gather will be critically important in future performance reviews or when writing your next resume.
How to Develop a Business Strategy that Integrates Innovation into Your Workp...Bradley Pallister
When you started your company and built it up from scratch, you never imagined that you’d eventually be hitting the “panic” button. But lately, the landsliding business environment has made it difficult not to enter survival mode.
Before you close up shop and wait out the COVID-19 pandemic or the arduous journey toward Brexit, let’s think about 8 ways you can incorporate innovation into your business to help you come out of lockdown stronger than ever.
In our 8-part series, we’ll look at ways you can innovate your business:
1. Innovate Your Business With Bold Strategies
2. Innovate Your Business With a New Business Model
3. Innovate Your Business With Better Products and Services
4. Innovate Your Business With Process Improvements
5. Innovate Your Business With Marketing Techniques
6. Innovate Your Business By Adopting New Technology
7. Innovate Your Business By Revamping Your Supply Chain
8. Innovate Your Business With Your People and Culture
For the first part, let’s investigate how improving your business strategy can unlock innovation throughout your business.
Many of my friends from industry have asked for my opinion on the economic crisis and its impact on business. My answer to them is that the real problem is that companies simply do not internalise the proper actions to take in order to respond to such a situation.
And rarely is it more critical than in retail business strategy, and the far-reaching implications surrounding the phenomena often known as ‘wallet share’ or ‘share of wallet’.
‘Share of wallet’ is in essence an holistic term capturing the aspect of a retailer’s desire to understand and manage consumer spending, how much they have, and how frequent and recent this occurs. This clearly introduces the aspects of service, proposition, customer loyalty, and internal & external change as strategy components for serious consideration by the senior management team.
This paper seeks to explore these aspects of a Retail business strategy, giving insight and advice for a stronger business strategy in ‘Changing Times’.
Agency business models aren't working the way they used to. The market has shifted. And to remain relevant and competitive, agencies need to shift, too.
This whitepaper addresses how a fresh look at agency business management can make a difference.
Corporate turnaround in turbulent times fffFarooq Omar
During a time of swelling, the expense of products and ventures increments quickly, diminishing independent venture obtaining power with providers and sellers. To make up for expanded costs, organizations are compelled to raise their costs with buyers. This makes an endless loop of increasing expenses and makes it trying to rely upon demonstrated income streams.
The Experience Audit is one of my favorite tools because it is a completely new perspective in which to look at your customer strategy. In doing the work, you will be better prepared to have more meaningful conversations with your internal teams.
The Experience Audit ask you to look at existing customer behaviors and outcomes because behavior is the end all, be all, of profitable business. Behavior is the proof that your product is meeting needs, that you are delivering meaningful value. Behavior doesn’t lie. It doesn’t say things are worse than they are and it doesn’t sugar coat because they really like the person, but hate the product.
You can have significant financial impact if you focus your efforts on shifting more of your customers toward the attributes and behaviors of your most profitable and naturally satisfied customers. You can create sustainable, measurable results while at the same time reducing the sometimes overwhelming effort involved.
This document provides guidance on conducting an experience audit to improve a company's customer experience program. It finds that while 89% of customers think they are paying for a great experience and 80% of CEOs think they are delivering it, in reality customer experience is getting worse according to measures. The audit involves identifying a company's ideal, most profitable customers and those that drain resources to understand what behaviors could be shifted to make the latter more like the former. This focuses efforts on customers that bring the greatest value and aligns with a company's strengths. The audit provides clarity on customer promises, needs, and opportunities to improve strategy and maximize returns.
The Experience Audit is one of my favorite tools because it is a completely new perspective in which to look at your customer strategy. By completing the audit you will be better prepared to have more meaningful conversations with your internal teams.
The Experience Audit ask you to look at existing customer behaviors and outcomes because behavior is the end all, be all, of profitable business. Behavior is the proof that your product is meeting needs, that you are delivering meaningful value. Behavior doesn’t lie. It doesn’t say things are worse than they are and it doesn’t sugar coat because they really like the person, but hate the product.
You can have significant financial impact if you focus your efforts on shifting more of your customers toward the attributes and behaviors of your most profitable and naturally satisfied customers. You can create sustainable, measurable results while at the same time reducing the sometimes overwhelming effort involved.
1. IT IS TIME FOR CHANGE
DEMONSTRATE YOUR WORTH AS A BUSINESS LEADER
It is an unfortunate truth that only the fittest will survive. This applies to both corporations and
managers. Weak managers hire too many people, which destroy jobs because the productivity
decreases. Good managers are in high demand, because they increase productivity. Therefore,
these good managers are in short supply. Excellent managers are rare exceptions; they improve
productivity even further. Excellent managers believe in Yes-Win scenario’s only.
I would like to bring a couple of things to the table of the credit crunch. Change the focus from
delusions, manias and panic to solutions, facts and the “New Norm” – which, by the way, is
already there. Changing the focus can be done quickly. It demands that executives establish new
targets and KPI’s, look ahead with foresight, take initiatives and stay reliable. The job of the
leader is to align to the “New Norm”, find new fields where to sow the seeds of opportunities and
allow their employees to harvest.
To create hope for prosperity and wealth is a job for bold and honest business leaders.
Organizations deliver great results when executives with good manners can stimulate employee
energy, confidence in their capabilities and expectations of increased outcomes.
There is a big gap between the rhetoric of change and the efforts to get it done. So, pull up your
sleeves, work right from the start, do what has to be done, and do it with optimism. Work for
simplicity and go for short-term successes. Do not hesitate, think bigger and better, act fast and
with prudence, modesty and tenacity. All this will induce prosperity and hope, and put your
company back on an improved profit scheme. The sooner you start, the sooner you will arrive.
First: Take a firm look at your managing concept or master plan for change. That master plan
must define all the fundamental elements to get your organization to work differently. For
example: what are your fundamental metrics for?
1. Growing the business - M&A or organic growth? At what market to book value?
2. Performance - is that based on Return on Capital or Return on Talent?
3. Directing leaders and managers - how will this influence the KPI’s?
The fundamentals, the related master plan and KPI’s must be in place before a series of initiatives
can be launched in an effort to achieve new business goals. Just for a moment, let us put our
focus on something that does not cost anything: effort, velocity, trust and confidence to increase
2. profit per employee. Therefore, focus on individuals - individuals as employees, individuals as
customers, individuals as suppliers and individuals as shareholders.
Employees. Profit per employee must increase. How is this accomplished? Begin by placing a
ban on all No-Win scenarios, EBIT, one year budgets and strategic planning. Instead make plans
from one week to the next eight weeks ahead. Review every week for progress made and align
employees and tasks to reality and facts. Increase your speed and energy by demanding more
results from your managers, not to be delivered tomorrow or next week – but today! Let this be
your new vision for performance: “Exceed last weeks performance every week for the next 250
weeks”.
Many executives appear to believe in creative monopoly. They think there are only a few
executives at the top of the organization who are the truly clever and creative ones, where most
other employees are not. Allow your staff to innovate the way they perform. Mr. Konosuke
Matsushita, from Matsushita Group and Mr. Shigeo Shingo from Toyota has shown us the
pathway to really push innovation and mind power inside an organization aiming at a progressive
prosperity.
Train the common worker in business innovation and watch their ability to mobilize their
intelligence for creative and profitable change. Let them be activists shaking up the organization.
Ask for a list containing 25 PIP’s - Performance Improvement Points. Allocate money and give
them their own time to innovate working processes. Observe with amazement how much
improvement you will receive in return. No company can afford the waste of a single employee’s
imagination and intellectual power. Profit is a function of competencies rather than position. But
the paradox is that a downturn is needed to make the collective shift and move forward.
Customers. Peter F Drucker wrote in his book titled Challenges for the 21st Century; “One cannot
manage change. One can only be ahead of it”. In a downturn, the foundation for making business
changes is inevitably fast and unpredictable. Irrespective of the dynamic of the change, business
has to go on. Leaders look for new ways of doing business and changing the game of the past. In
this process there is an overwhelming need for work to be done. Align to the “New Norm”
outside the company and create links to the inside organization.
This emphasizes the important need for business executives to manage the business on the inside
and lead the business on the outside. Leading the business on the outside means changing the
game of your business by focusing on profitable innovations that the customer will appreciate.
Permit customers to work inside your organization together with your employees. Encourage
employees to talk with the customers, recognize what it is the customer wants your staff to
understand about their own business and help them to achieve their goals.
Coach your employees to listen and understand the needs of your customers. Every employee
must understand that the company is required to win the customers’ value equation everyday. The
few critical moments of truth are when the customers choose and utilize your product or service.
Equally important is that the delivered product or service must be an enhanced and memorable
experience. How many know this and actually act on this knowledge in today’s business world?
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3. The customer is the Boss. This is a known fact, but only few act on that knowledge in this sudden
downturn. First because customers disappear and secondly, because executives reach their
frustration level and start losing hope, talking about No-Win scenarios, saving costs and laying
employees off. The natural reaction of an employee will then be to turn on their defensive mode,
which in turn blurs their judgement. They start dreaming about a reality that does not exist,
instead of adapting to the change and aligning the company to the “New Norm” reality.
Suppliers. Repair the broken procurement process. Too many employees experience that the
relationship to suppliers is merely transactional and nothing beyond that. This process can easily
be improved. Make friends with your suppliers. They are not your enemies, but win-win
partners. Teach your suppliers about your business and how they can best service your company.
You will be surprised to see how much can be improved at no cost to the company.
For a company to deliver as promised depends not only on your own staff, but also on your
suppliers. Share your business plans with your suppliers; make plans for how to improve the
relationship and productivity of both the suppliers and your business. Build up joint values that
are useful when negotiating price, terms and conditions. Be sincere and honest as both parties
need to make a profitable relationship. This process is effective as it puts your customers both in
front and centre and your suppliers deliver better value.
The proof of the value of good partnerships with your suppliers lies in the consistently strong
business and financial results for all involved – customers, suppliers and your company.
Shareholders. These are individuals who have invested more money in you, than your own father
was ever willing to do. Remember that the shareholders respect you; they trust you and have
confidence in you. Treat them with dignity and respect. Promise them organic growth and a
strong brand name. Assure them a market to book value ratio of 4.0 in 250 weeks from now – and
deliver. This will only cost in effort, not in cash. Tell this to the analysts and they will be curious
and inspired by your company. Good relationships with analysts are critical and you just may
need them on your side one day.
Try to understand the needs and wants of your shareholders, investors and the analysts, and
deliver just that. Explain the executive’s long-term thinking and the investment plans as clear and
simple as possible. This group of people are often very interested in your company, how the
company is doing and future expectations of your company. A few of them might even be your
own employees or suppliers.
Second: Simplicity, entrepreneurship and noble leadership. In the ‘good old days’, Mr.
Johannes Poulsen, former CEO of Vestas, Denmark had a saying: “When 80 men can make one
windmill in four weeks, how long does it then take to produce two windmills?” Take a guess.
“Four weeks. They won’t get one day more.” As a result, they must do their work at twice the
speed! Got it!
Recall the moments of vigilance from the past. The time where there was less talk and more
accomplishments. Action and simplicity was your truism, supported by speed, energy, fun and
self-confidence, all kept on track by a Yes-Win scenario: “We will win - for our Customers.”
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4. Abandon every ounce of unnecessary burden, rules and bureaucracy, so your company can run
for its life during the downturn. In an effort to demonstrate this, move your own office to a
smaller area – right at the “frontline” and convert you old office to a “command center” for
energetic sales people. Sell your company car, and buy a small used car. This will show your
organization that the time for a change is now and things are happening.
When you lead your company through crisis and uncertainty, you ask for change when the way is
paved with rough examples of the nature of high risk leadership. The characteristics of leadership
by example, team building and the spirit needed to overcome great obstacles and sustain a team
under stress, are well defined. Before you can inspire people to change, your own thoughts and
actions must change. Before you can ask for the ultimate effort from your staff, your efforts must
be exhausted. In order to convince your employees, you yourself must believe. When the tasks
look overwhelmingly impossible, you yourself must be invincible.
Third: Investments in training and technology. It should be noted that business investments are
the first to recover from any recession. Executives are aiming at productivity gains. That will
happen again, so be prepared when investments take off.
The old assumption that investments in training would transform poor management practice into
good management practice and thus improve productivity has proved correct according to a new
scientific study. Measure Return On Capital Employed – ROCE. Weak management practices
result in poor financial performance; good management practices outperform significantly the
financial performance for a sector; and excellent management practices outperforms competition
by a factor two or more. Hence, there is a positive correlation between a good management
practice and a good financial performance.
The study also shows that competitive intensity within a sector increases when productivity
increases. This means that there is also a positive correlation between increased productivity and
competitive intensiveness. Thus, excellent management practices increase the probability that a
company will end up a winner.
Weak, good or excellent management practices are defined by the correct use of three simple, but
in this context, very important management tools:
1. Lean & Six Sigma - minimize waste and create flawless operations in the entire supply
chain including administration.
2. Talent Management - attract and retain high-caliber employees and make the so called
common employee into a talented employee.
3. Performance Management - reward employees who meet or exceed set goals, and who
improve the attitude and behavior across the organization.
There is more to transform good managers into excellent managers, and good ROCE into
excellent ROCE:
4. Leading leaders and managers which ensure that a specific guiding human philosophy is
followed throughout the organization.
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5. 5. Leading the Business Culture being the core values that support the entire business
process and stabilize the integrity of the company.
6. Leading Technology which ensures that technology is used where it makes sense, both as
product technology, production technology and as information technology.
7. Leading Growth which ensures that all emphasis for growth is clearly understood and
optimized.
8. Leading Brands to ensure that any intangible asset is created, protected and utilized to its
maximum.
The fastest way to gain productivity and intensify competitiveness is to make an investment in
management training, and often it is far less expensive than investing in machinery and
technology. Alone, the implementation of a good management practice can be done within a
month. Implementing new systems and new technology are measured in years. The
implementation of a new solid management practice can increase both revenue and profit with
more than 20 percent within a year.
New technology can change the game of an entire industry globally, and make a quantum leap in
productivity and thereby competitiveness. The next tech revolution will come from nano-, bio-
and computer technology. It will be rushed through to new products, new services and new
information- and production technology at an unthinkable speed. This will cast the foundation for
the wealth creation for the next one hundred years, but this will be expensive and come at a high
cost.
Where will the money come from? Household assets are down with as much as 35% all over the
world. Households will, therefore, save their money in saving accounts for years to come. There
are no other options, because households cannot borrow money to the same extent as was
possible in the past. This will support big investments in the future. This may take a while, but the
money will be there in due course.
Fourth: Cutting prices will increase consumer spending, and consumer spending will definitely
help the economy back on track. The effort to fix this challenge is heavily underestimated, and it
is the core of the executive business leader’s battle field.
Cost reductions in any corner of the business are the foundation for cutting prices and remaining
profitable. That is common sense. What is not common sense, however, is to identify leaders in
the organization, who are capable of designing and executing immediate changes that secure
bigger margins from sales, procurement, production, stock, delivery, quality, service and/or
safety. And for your own sake, get the products out of the R&D labs. Put energy into a few, or all
of them. But first and foremost stop talking about it and take action.
What also needs to be learned as it does not come naturally, is a middle managers ability to enrich
their people, energize them, ‘accelerate’ them, and nurture their confidence. What is also not
common sense is that middle managers often don’t have a clue about what drives the business and
how they can simplify the complexity of the processes. Teach them what is of highest importance
and what is less important.
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6. CONCLUSION
Executive Business Leaders who use the above four action parameters, will be able to increase
wages, salaries and even be able to pay out bonuses to their high performers, based on
productivity gains and a couple of convincing competitive advantages.
This can only be done by talented employees - talent in a broad sense. Therefore, focus on profit
per employee in a staff intensive and less capital intensive businesses. This will tell you more
about productivity than return on capital. If you are in a business where productivity can no
longer be improved, you might be able to replicate your business to new regions, and use this as a
method to improve the number of people to maximize profit.
As an Executive Business Leader, you hold the golden key to prosperity for all. The “New Norm”
is already here to be maintained by competent, knowledgeable Excellent Business Leaders with a
well trained “army” of brilliant workers. Pull up your sleeves and deliver. The time is now for
improved results.
Copenhagen, Denmark
October 2009
Siegfried W Andersen
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