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As the holiday season approaches, you may be thinking about employee gifts. While everyone appreciates a holiday treat, Cindy Ventrice, author of Make Their Day! Employee Recognition that Works (Berrett-Koehler Publishers) says holiday gifts and bonuses are now considered an entitlement in many organizations rather than a reward for hard work. People bank on their holiday bonuses.

“They plan their vacations, their gift giving, some plan it right into their income in terms of paying their bills. So, there is no appreciation element in many cases. They’re not seeing it as the reward. They see it as a piece of their compensation,”

says Ventrice.
While Ventrice is clear that companies shouldn’t do away with the holiday bonus, she argues that true recognition is not given through a one-time bonus check. Here are four things to consider when deciding how to thank your employees.
1. Include a personal message

“We often overlook the strength of written praise,”

says Ventrice.

She gives the example of an employee who kept handwritten notes of praise for years, pulling them out when they needed a confidence boost.

When you take a little bit of extra effort to put it in writing, it pays you back many times over. People read that over and over again,”

she says.
Messages should include specifics about the employee’s work and what was appreciated. They can be included in employee’s bonus envelopes or made into a group experience, such as a message board handwritten notes highlighting at least one thing that you value about each employee.

2. Know your audience

Ventrice says it’s difficult to come up with best practices when it comes to employee gifts because rewards will mean different things to different groups. Understanding what will make your staff enthusiastic is the first step in determining appropriate rewards.

“Know your staff – who they are and what they’re going to value,”

says Ventrice.
While a white water rafting adventure may be the perfect team-building reward for a young, fun office, a formal dinner at a fancy restaurant may be more suitable for a serious work culture.

3. Offer non-monetary compensation

Ventrice surveyed over 200 employees from 98 companies to find out what rewards they valued the most.

Across all ages and cultures, time off was absolutely number one,”

she says.

Flex time given for a specific accomplishment in the form of a longer lunch hour or going home early is a great way to show appreciation for a job well done.
The study confirmed that the cost of recognition awards has only minimal impact on employee perception of appreciation. Fifty-seven percent reported that the most meaningful recognition was free.Other forms of recognition that scored high included opportunities to learn from senior staff or take a course that wasn’t offered to everyone, and being given challenging assignments.

“Programs run by managers who know what makes recognition meaningful and know how to provide it translate into higher engagement, retention, loyalty and productivity,”

says Ventrice.


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Latest News for Strategy Business Developments

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In the fast-moving world of online marketing change is the only constant, emerging technologies, tough competition and increased consumer expectations have created plenty of uncertainty.

Many digital agencies are confused about how to deliver relevant ad experiences moving forward. However, in that uncertainty there are also tremendous opportunities to leverage data and deliver the personalized ad experiences consumers prefer. Advertisers can make the most of this and position themselves for long-term success – if they’re willing to question some longstanding assumptions.

Executing ad campaigns today takes a different set of skills and real-time bidding (a strategy search marketers have used for years) is now feasible for display, social, mobile, video, text, radio advertising and even TV.”

Executing search and display campaigns, for instance, used to require completely different skill sets. Now programmatic technologys merging them.

“Search and display are uniting under a common theme: leveraging data to target consumers with the right message, in the right place, at the right time.”

This creates huge opportunities (IDC estimates real-time advertising is growing 59 percent per year) only if agencies and marketers are willing to develop new skills and reassess how they’re delivering ad experiences.

The media buyer and agencies that win today -and tomorrow – have started to look a lot different than successful media buyers from the past.”

In understanding and developing the ability to buy in real time, traditionally, display media buyers negotiated with sellers to run ads for a fixed number of impressions or amount of time. All the terms were worked out beforehand in a conversational, delayed executed setting. Programmatic technologies allow advertisers to be more nimble. Instead of committing a significant chunk of their ad spend before seeing any results, advertisers can make small-scale buys, generate feedback and make adjustments in real time.

Buying becomes an ongoing process. Kellogg’s used real-time targeting to increase its ROI between five and six times.”

This creates enormous opportunities to maximize the ROI on every campaign. Buyers can use feedback to optimize campaigns on the fly – scaling successful ad buys and ceasing unsuccessful ones.

To develop analytical skills and strong technical knowledges,
the analytical skills could become increasingly important in executing successful ad campaigns. Seventy-five percent of CMOs are already using customer analytics to mine data. Acquiring these skills might seem intimidating for some media experts, but it offers huge advantages as advertising technology evolves.

“Going forward, successful media buyers will behave more like stock traders. They’ll analyze large sets of data, cross-reference them and run regression models.”


But they won’t stop there. It will be up to them to “translate” those numbers into actionable insights to best optimize ad campaigns.


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Latest News & Developments in Business Strategy Practice

A chance to catch up on much-needed reading to refresh and recharge your standards and leadership style scoured this lists of books that look at life and work in a whole new way. While these books are not your typical newest releases, they have timeless value and are best read together to rejuvenate yourself and, by extension, your team.
The review by Rebecca Talbot, Content Marketing & Research Manager & Leadership Story Lab sais:
Feeling comfortable in our workplace can have its downsides. It’s easy to fall into patterns and make assumptions about the people we spend our days with.”
The Coaching Habit by Michael Bungay Stanier offers a way to get beyond our assumptions about our coworkers’ behavior and learn their stories instead. Stanier’s short book explores seven questions managers can use to get people talking, and to train themselves to avoid thinking they “already know” what’s motivating people. His first question is simply:
What’s on your mind?

When we are willing to start our conversations with an open-ended question, the answers might surprise us!And that’s Stanier’s whole point-that we need to approach each other with far more curiosity.
The “what’s on your mind” question resonated with me because it is a question my dad used to ask me often when I was a teenager. The respect and curiosity implied in the question worked well to encourage a teenager to talk.
Likewise, family, friends and colleagues generally need an invitation before they will share what’s been important to them lately. Now that Stanier has reminded of that, I’ll be using this question more frequently and to that meaning find irresistible reading suggestions on new different ways of thinking as the following highlights. Find out more! Books are the only thing you can buy that gives you wealth and wisdom.

BEAT THE CLOCK! 2020 New Edition Available


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NEWS & OVERVIEW DISCUSSIONS IN DIFFERENT MARKET INDUSTRIES


How Marketers Can Connect Profit and Purpose
It takes time for a big idea to make its way into business practice. Six years ago, Harvard’s Michael Porter and FSG’s Mark Kramer made the bold statement that shared value —the idea that the purpose of a company is to achieve both shareholder profit and social purpose —

To reinvent capitalism.

They encouraged companies to go beyond CSR (corporate social responsibility) and integrate social impact into companies’ competitive strategy. And, Nathaniel Foote and Russ Eisenstat proposed

“ A better way to manage in the 21st century.

They found “higher-ambition” leaders achieved superior performance by doing well and doing good. For the last six years, they have worked with a group of top marketing executives and business leaders in Silicon Valley and the Bay Area from companies large and small. Each year they assess the issues that are most top-of-mind. From digital platforms to customer experience to crisis management, these priorities have been a bellwether for what would soon dominate boardroom discussions and headline business publications.
This year the issue of profit and propose came to the fore, echoing the earlier manifestos. To understand the connections and applications, interviews with over 20 CMOs and CEOs, finding a remarkably similar pattern across a highly diverse set of companies. To find widespread agreement that having great products and services and being a “good corporate citizen” are table stakes in a world of empowered citizens and consumers.
Melissa Waters, CMO of Lyft, says,

Any customer these days is asking for transparency on what a company stands for and why they operate. But you can’t exist just to make the world a better place.

Purpose today goes well beyond corporate social responsibility. According to Alicia Tillman, CMO of SAP,

Purpose can’t be viewed as a department or initiative. It must be woven into a company’s operational fabric. Purpose is a lodestar guiding and inspiring everyone to create economic and societal value together.”

In a sense, purpose is following the path that digital has taken in the enterprise.


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News & Economic Trends

Comercial Leaders



What it truly comes down to the employee-employer relationship? Information discharged by Virgin Pulse uncovers precisely what representatives got to cherish in their job – and expansive portion reveal that excellence comes from a great relationship with their boss.

In fact, nearly 60 percent of the more than 1,000 full-time employees surveyed said that their relationship with their employer positively impacts their focus or productivity at work, and 44 percent said it positively impacts their stress levels.

Considering nearly 50 percent of the 7,200 adults surveyed in a recent Gallup study left a job,

to get away from their manager.”

1. Open communication

The key to any great relationship is communication that goes both ways. Tragically, representatives don’t feel like their bosses are truly tuning in. A later study of more than 1,000 U.S. representatives by 15 Five appeared a unimportant 15 percent of workers are fulfilled with the quality of working environment communication.

great relationship is communication that goes both ways. Tragically, representatives don’t feel like their bosses are truly tuning in. A later study of more than 1,000 U.S. representatives by 15 Five appeared a unimportant 15 percent of workers are fulfilled with the quality of working environment communication.

What’s more, that same study found that 81 percent of employees would rather join a company that values “open communication” than one that offers great perks.

To create a work environment that supports open communication, consider implementing a web-based feedback platform. According to the survey by 15Five, 70 percent of employees said they’d be more likely to share information with managers if they could enter comments into an online feedback system.

2. Opportunities and investments

In a perfect world, both parties bring something in, and get something out from their relationships. For managers, the benefits of a great employee-employer relationship incorporates a workforce that’s exceedingly locked in the beneficials and fulfillement for their parts inside the organization. An viable and efficient workforce is nice for any business. For workers, the focal points of the relationship ought to go in the past to the paycheck and benefits that bundles into incorporate individualized training.

3. Gratitude and appreciation

It’s in our nature to need to be lauded for a work well done – a result of accepting “gold stars” amid our schoolyard days, no question. It consoles, propels and gives us the fuel we got to proceed doing what we do well.

In fact, Globoforce and SHRM’s 2015 Employee Recognition Report showed 86 percent of the 823 HR professionals surveyed said values-based recognition increased employee happiness at work, so don’t hold back on the “thank you” notes and pats.Employees will appreciate the recognition, and the employee-employer relationship will get a much-needed boost.

4. Interest in life outside of work

The employee-employer relationship ought to be proficient, but that doesn’t cruel bosses shouldn’t take the time to urge to know the individual behind the work. Endeavor treat workers as individuals, not fair worker bees. The key is to require an intrigued in employees’ lives exterior of work. What are employees’ individual and proficient objectives? Where do they trust to be in five a long time? Do they have a family? What do they like to do once the workday is over?

Questions like these help employers to know their employees on a more personal level. That helps them make sense of individual employee actions and preferences, and forms a much stronger bond between employers and their employees.


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Scientific management


 

technical-product-manager



No tyrant or slave driver in the ecstasy of his most delirious dream ever sought to place upon abject slaves a condition more repugnant.

There’s small space for Taylor’s thoughts in today’s world of freewheeling collaboration. But the works of individuals such as Michael Doorman and Michael Pound, with their accentuation on breaking commerce down into quantifiable (and controllable) exercises, hold more than a swoon resound of Taylor’s thoughts.

Taylor was the first man in history who did not take work for granted, but looked at it and studied it. His approach to work is still the basic foundation.


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The Latest News & Developments in Business Strategy Practice

Expect change

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Commerce streams is within substantial amounts of foreign trade and hence movements of currency, result from the activities of very large multinationals companies or enterprises.

One sign of this the number of companies from the developing countries shows up within the Fortune 500 list of the world’s greatest companies.

Substantial amounts of foreign trade and hence movements of currency, result from the activities of very large multinationals companies or enterprises.

The transnationality list gives the degree of an MNE’s inclusion overseas by looking at three proportions remote asset/total resources, remote sales/total deals and remote employment. As such it captures the significance of outside exercises in its in general exercises. These multinationals are tremendous associations and their showcase esteem regularly surpass the GNP of numerous of the nations in which they work.

There are over 60000 MNE’s around the world and they are estimated to account for a quarter of the world’s output.

The development in MNE’s is due to unwinding on trade controls, making it simpler to move cash between nations, and the enhancements in communication, which makes it conceivable to run a world-wide commerce from one nation.


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The power of systems

In selling directing through distributors and collaborate with installers and contributors for project service distribution, putting a system engagement employee it’s a solution that allows you to access information and make it available to your organisation.

An article from Harvart Business Reviews with the headline “The Digital Transformation of Business”, where they surveyed 537 of their customers that were asked about the most important place where they can begin in making investment, and there answer is in customers facing technology.
Although the four “megatrends” of cloud, big data, mobile and social technologies are clearly having a positive impact, industry watchers who believe that only a few early adopters have been able to transform their organizations with these technologies are mistaken.
Digital transformation is occurring rapidly at a majority of public and private sector organizations.

Business leaders are not simply deploying the four technologies to boost efficiency or otherwise cut costs. Instead, research shows that firms are embracing the megatrends to craft new business models, develop new revenue streams, or drive other material changes that lead to an increase in the top or bottom lines.

It’s a full-fledged mobile sales terminal for the whole customer experience,”

says Greenbaum.
Eventually, the mobile devices—together with a growing number of in-seat flat screen TVs—will enable Delta to sell higher-value seats, book new flights, reserve hotel rooms, or rent cars while in flight, delivering new services and new sources of revenue.
In addition, the airline says it will eventually provide flight attendants with customer-specific information from Delta’s customer relationship management (CRM) system on their mobile devices to enable more personalized service.

That’s pretty transformational,”

says Greenbaum.
The widespread use of mobile technologies is also having an impact on the public sector. For example, the Metropolitan Police in the United Kingdom wanted to dramatically improve the way suspects brought into the police station were processed.
Aside from the fact that the suspects weren’t always cooperative, the technology used to capture photos of the suspects was aging, and image capture had to be performed in a fixed manner by trained specialists in a specified location. At the end of the day “it was a cumbersome and difficult process,” says Richard Thwaite, chief information officer of the Metropolitan Police.

A. MOBILE CONNECTS EMPLOYEES TO THEIR WORK AND EACH OTHER

Benefits of using mobile devices and applications

To improve its booking process, the agency deployed tablets with specialized mobile applications to police officers so they themselves could capture multiple images and video clips of the suspects, including tattoos or clothing, in a less confrontational manner, and enter it into their systems quickly.

Other innovations the Metropolitan Police is pursuing include cameras on officers and a text messaging service to reduce emergency calls.

We are going to use technology to stop crime, arrest offenders, or help victims. We need to keep police officers out of police stations and reduce bureaucracy,”

says Sir Bernard Hogan-Howe.

Digital policing will help us to do this.”

Similarly, the growing ubiquity of mobile technologies is having a transformative impact by helping to deliver healthcare services to underserved populations.

None quarter of all stillborn births happen in India—600,000 a year in that country alone—largely because so many expectant mothers live too far away from sources of good maternal and obstetric care.

Wipro, a system integration services company, looked at the inefficiencies in delivery of medical care to these women in India and decided that there were several areas where technology could dramatically improve the process.

Last year, Wipro unveiled a system that enabled healthcare providers to deliver remote prenatal and cardiac care using mobile technologies.

The AssureHealth platform combines a mobile application, integrated medical devices, analytics, and cloud services. A wireless monitor records heart rates or uterine activity and delivers the information via Bluetooth to the mobile device.

The device sends the data to the cloud, where it is analyzed, and a doctor hundreds of miles away can download the results and provide an assessment in real time. In areas of India where health services aren’t readily available, explains T.K. Padmanabha, CTO of Wipro,

what is available is the phone.”

With regard to the risks involved in deploying mobile technologies, the survey found that data security far outpaces other concerns.
Survey respondents who said mobile technologies are a critical part of their infrastructure are also likely to name data security as their number one worry.

Employees have access to your data on a device they can—and will—lose,”

says David Chappell, principal with technology consultancy Chappell & Associates.

The portability of data and apps, plus the use of personal devices, raises red flags.

B.SECURITY RISKS ARE RELATIVE

Data security ranks as an important risk, especially for mobile and cloud

Security is an important concern with all four of the megatrends. When it comes to the public cloud, for example, security is

“a trust issue,”

says Chappell.

And it takes time to build that trust.”

Greenbaum notes that executives are more aware of security issues these days because of recent events, including revelations about the U.S. government’s National Security Agency (NSA) snooping, massive data breaches at Target and other retailers, and the Heartbleed bug that exposed vulnerabilities in a widely used web security protocol.
Leading companies are dealing with the security risks associated with the widespread adoption of mobile technologies by developing sound BYOD strategies.
They are adopting device encryption and two-factor authentication, as well as using Mobile Device Management (MDM) solutions to wipe out corporate data on devices if they are lost or stolen.

C. CLOUD COMPUTING DRIVES BUSINESS AGILITY

According to the study, 53 percent of respondents said that the cloud’s ability to deliver flexible capacity as needed is the technology’s leading benefit, followed by 50 percent of respondents who said that increased business agility was its main benefit.

Forty-three percent pointed to lower fixed costs from using cloud-based solutions as its key benefit. Going forward, cloud computing is primed to have a powerful impact on businesses in 2015.

More than three-fifths (62 percent) of respondents say cloud will transform their businesses in the next 12 months, up from 47 percent who say it’s doing so today. It will also change the way people work, according to 56 percent of those surveyed.

While cloud technologies have clearly had an impact on IT departments, companies are doing more with them than revamping IT operations.

We’re beyond the first generation of cloud transformation, which was just facilitating the move from capital to operating expense. Now we’re looking at ways in which we can more easily enable collaboration and deploy services in elastic fashion,”

offers Greenbaum.

D. CLOUD MAKES BUSINESS FLEXIBLE AND COST EFFECTIVE

Benefits of cloud computing

Companies need to be agile, flexible, and fast to meet customer expectations. Cloud computing can be key to that responsiveness.

We have customers who give us 90 days to get something up and running,”

observes Padmanabha of Wipro.

There’s no way I can do that in my traditional data center.”

The public cloud delivers a time-to-market advantage that’s hard for enterprises to beat.

“We see a lot of traction with customers who have projects that have a short window of time to deliver results,”

Padmanabha says.
Wu Feng, a professor of computer science, electrical & computer engineering, and health sciences at Virginia Tech, concurs that the flexible capacity of cloud-based solutions can enable dramatic increases in performance that weren’t available previously.

Next-generation sequencers are capable of doubling the amount of data that they generate every eight or nine months.

We’re generating data faster than we can analyze it,”

Feng says.

A cloud solution, which optimizes data management and data transfer, delivers better performance and access to DNA sequencing tools and resources, leading to faster advancements in medical research.
As with mobile, security issues and privacy concerns are the main barriers that inhibit cloud adoption.

“I’m in a highly regulated business. Beyond that, I’m in a consumer-facing business where I’m accountable for the stewardship of personally identifiable customer data,”

says Ray Voelker, CIO of Progressive Insurance.

Because encrypting data in the cloud would slow down the speed of analytics, Voelker says he’s evaluating hybrid cloud solutions.

Most companies look at a hybrid environment,”

says Greenbaum.

“They don’t do everything in the cloud. But as new services and capabilities and opportunities come up, they look to do that via cloud services.”

Despite some hesitation, the study identified strong support for cloud-based solutions as more than just a way to reduce IT infrastructure and personnel spending.

The study found that leading companies are using the rise of public and private cloud computing to create new business models and services in addition to taking advantage of the greater cost efficiencies and scalability features that the cloud provides.

E. BIG DATA HELPS COMPANIES INNOVATE

The advent of new data analysis solutions such as in-memory computing, along with the ability to host many of these solutions in the cloud, is enabling enterprises to overcome the traditional barriers to big data analysis.

Organizations today have the ability to process and analyze large quantities of structured and unstructured data to generate business insight in real time. With the advent of the Internet of Things (IoT)—including wearable computing, connected cars, and smart cities—the amount of data organizations have available to analyze is set to increase exponentially.
Even now, just over half (54 percent) of respondents say that big data has transformed their organizations; 70 percent expect it to do so going forward.

For those who master big data, the biggest payoffs are allowing the integration of more data into decision making processes (according to 62 percent) and enabling faster generation of insights (cited by 52 percent).
Progressive has collected more than 178 terabytes of data via Snapshot—11 times the amount of all data stored by the Library of Congress.

It provides for a much more accurate pricing method for Progressive than estimating a customer’s potential for loss based on information like age, gender, and type of car, says Voelker.

What’s more, it has enabled an entirely new and successful product category—usage-based auto insurance.

It’s revolutionary to us,”

says Voelker.

Every time we find a more powerful segmentation variable, it drives more growth.”

Another example of a leading organization using big data to innovate comes from Auckland Transport, New Zealand’s public transport agency.
The agency analyzes four terabytes of operational data, including bus ridership, to discover the most popular routes, identify routes to expand, and improve the customer experience.

It’s a substantial undertaking,”

says Roger Jones, Auckland Transport’s manager of IT and business systems.

We have to figure out how to transform that data to information and then make that information relevant to the customer.”

In the future, Auckland Transport plans to analyze images from around the city to understand where traffic congestion occurs or to assist with public safety.

Ultimately, the agency will deliver personalized alerts to citizens letting them know their bus is running late or that there’s increased traffic on their usual route to work.
Despite the promise of big data, however, it remains hard to manage, hard to interpret, and hard to integrate into day-to-day business operations and decision making. Further, success doesn’t happen overnight.

The companies that are good at [big data] have been working on it for quite a while,”

says Thomas H. Davenport, professor of IT and Management at Babson College and author of Big Data @ Work.

Davenport points out that one of the earliest users of business analytics—UPS—has been working on telematics to track its packages and delivery trucks for 25 years but only recently announced plans for analytics-based dynamic routing (itself a project 10 years in development).

Further, skilled data analysts and scientists, who understand both the statistical modeling and the business applications of big data, are hard to find.
Nearly half of respondents (48 percent) say that a lack of data analysis skills is the biggest barrier to big data. Even those who regard big data as a critical part of their operations find it difficult to hire the necessary talent.

Leading companies are addressing this talent shortage by hiring skilled contractors or working with consulting firms that have big data practices.
Some are getting more creative. Jones, at Auckland Transport, is addressing the talent shortage by working with data scientists at local universities.

There’s a wealth of opportunity for PhDs who might unearth something interesting mixing our data sets with other data sets,”

There’s a wealth of opportunity for PhDs who might unearth something interesting mixing our data sets with other data sets,”


he explains.

The department is also sponsoring a hackathon.

It’s about exposing some of our data feeds so others can analyze it in ways we might not be able to internally.”

Further, the study results highlight that successful organizations are those that adopt a big data mind-set.

Business leaders must create a culture that embraces the intelligence big data delivers, agrees Donald A. Marchand, professor of strategy execution and information management at the International Institute for Management Development (IMD).

You have to treat bad news as good news and be willing to act on it,”


he says.

You need the ability to see that the way you thought about things in the past may not be productive in the future.”

And this point of view has to be pervasive—from the C-suite to sales and product development to the front lines.

F. SOCIAL TRANSFORMS CORE BUSINESS PROCESSES

According to the survey, the consulting and business services sector is the most transformed by social media—more than half of that sector’s respondents indicated that they had already experienced a transformational effect from social. Early business successes with social networking are most visible in outbound marketing activities: 51 percent of respondents say that social media has increased their company’s ability to effectively communicate with its customers.

G. THE DIGITAL TRANSFORMATION OF BUSINESS

Industry experts observe that social media is becoming a core aspect of modern digital marketing strategies, and they see potential for it to radically transform the marketing function.

But forward-thinking organizations are not using social networks only to listen to and better understand customer sentiment about products, brands, and companies as a whole.

They are also using social technologies for recruiting and HR management, and for collaboration and communication with employees, partners and suppliers. The survey findings indicate that social technology is positioned to have a broad impact.

Survey respondents who deem social technology to be critical to their infrastructure (22 percent) are significantly more likely than their peers to say they benefit from an increased ability to innovate.
Even businesses that haven’t yet embraced social media anticipate its potential. More than half of all respondents say that social technology will transform their organizations (57 percent) and the way they work (58 percent) in the next few years.
Four years ago, Ask.com, a leading online brand for questions and answers, hired Eric McKirdy to improve the customer support experience and improve the support team’s internal operations.

By deploying a CRM application that integrates mobile social media listening capabilities, the company has transformed both. One key change in how Ask.com’s customer support team works is that they can now manage support tickets, including those generated through social media, entirely by smartphone, without being tethered to a laptop or an office.
Similarly, Auckland Transport is evaluating social tools to listen and respond quickly to citizen comments and even prevent security dangers.

The agency plans to mine that unstructured data, analyze it, and feed it to the operations team to respond to—and someday prevent— transportation problems. Like Ask.com, Auckland Transport eventually plans to create service requests from complaints posted on social networks, feed them into a CRM system, and manage them proactively.

Business leaders note, however, that it isn’t always clear how best to incorporate social media into core business operations.
Social technologies are often not integrated with core operational systems, and the data they generate is unstructured.

As far as enabling line of business transactions and being used beyond boosting marketing and the employment brand,”

says Progressive Insurance’s Voelker,

says Progressive Insurance’s Voelker,

“it’s less mature as a business tool.”

The main concerns survey respondents have about social technology include the time spent by employees using it (cited by 45 percent) and employee information overload (cited by 40 percent).

But leading companies are using social in their core lines of business, turning to social tools that provide a greater level of integration with their mission critical business systems.

For example, McKirdy of Ask.com said the company once used a variety of social media monitoring and communication tools to identify and respond to issues. But now that Ask.com uses one social module in a cloud-based CRM system,

We monitor all major social media channels and can respond with the click of a mouse,”

says McKirdy.
While it is clear that each of the four technology megatrends has had a tremendous impact independently, the study finds that deploying integrated solutions is where the greatest impact is achieved.

The most important trends, the most interesting things, are happening at the intersections of these four different technologies,”

asserts Babson College’s Davenport.

Similarly, Horrom, of the Detroit Lions, says,

There’s less value to the Lions in having big data coming in if we don’t have a method of compute in the cloud or on premises to interact in real time with our fans via a mobile platform.”

The survey found the likelihood that organizations are being transformed to be significantly greater among those that deem multiple technologies to be critical.

Among “multi-adopters”— organizations that view at least three of the megatrends as playing a critical role in operations— more than two-thirds (67 percent) report they have transformed, compared to as few as onethird (34 percent) of single adopters.

Even dual-adopters (using two technologies in critical areas) are better poised to reap the benefits that sit at the nexus of these technology trends.
Most importantly, the innovation and improved agility described in the examples above are not simply a result of spending more on IT.

At this point in cloud, mobile, social media, and analytics development, C-level and senior line of business executives should be assessing the various business capabilities of their organizations and developing a strategy and a road map to improve and differentiate their core capabilities with these digital technologies.

The firms that take advantage of the new capabilities can not only transform themselves but also achieve success in the 21st century.

None of the changes enabled by these technologies comes without accompanying organizational changes—management mind-sets, organizational behavior, operating cultures,”

says Marchand of IMD.

Deep change over time coupled with these technologies is where transformation happens.


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The latest news contemporary developments in Business Strategy


All sorts of organisations use the vocabulary of strategy. Compare these extracts from the statements of communications giants Nokia and Kingston University, a public institution based in London with 200.000 students.

“Nokia’s vision and mission believes in communicating, sharing, and in the awesome potential in connecting the 2 billion who do with 4 bilion who don’t. Connecting is about helping people to feel close to what matters.”

If we focus on people, and use technology to help people, than growth will follow. In a world where everyone can be connected, Nokia takes a human approach to technology.
Nokia’s priority is to be the most proffered partner to operators , retailers and enterprises. A strategy where customers remain our top priority.

In line with this priorities, Nokia ‘s business portfolio strategy focusses on five areas, with each have long-term objectives: create winning devices; embrace customer Internet services; deliver enterprise solutions; build scale in networks, expand professional services.
There are three strategic assets that Nokia will invest in and prioritize:

1. Brand and design

2. Costumer engagement and fulfilment

3. Technology and architecture.

“Kingston University’s mission is to promote participation in higher education, which it regards as a democratic entitlement; to strive for excellence in learning,teaching and research, to realise the creative potential and fire the imagination of all its members.”

The vision is to be comprehensive and to create by present possibilities, with a grander and more aspirational vision of the future.
The University’s goals are to provide all students equal opportunities to:

🔹Realise their learning ambitions;

🔹Create authority in research and professional practice for the benefit of individuals, society and economy

🔹Develop collaborative links with providers and stakeholders within the region, nationally and internationally;

🔹Manage and develop its human, physical and financial resource to achieve the best possible academic value and value for money.

“Strategy is part of every day language of work.”

Strategy vocabulary therefore is used in many different contexts for many different purposes.


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Community Cloud

iyyt


Technical and fundamental analysis in the efficient market hypothesis suggests that future share prices cannot be predicted by studying past prices. As we have seen, there is extensive evidence to support this view and the right information in collaborating with your partners.

Despite the evidence, investment strategies based on the study of past share prices, or on the analysis of published information such as annual accounts, are common, and the view held by many financial analysts seems to be therefore that capital markets are inefficient.

“Technical analysis involves the use of charts (Chartism) and other methods to predict future shares prices and share price trends, clearly implying that a relationship exists between past and future prices. “

For technical analysis to lead to abnormal returns on a regular basis, capital markets cannot even be weak form efficient.

“Fundamental analysis are public information to calculate a fundamental value for a share and then offer investment advice by comparing the fundamental value with the current market price.”

It is not possible to make abnomal gains from fundamental analysis if capital markets are semi-strong form efficient, since all publicly available information will already be reflected in share prices.

Both technical and fundamental analysis, by seeking abnormal returns, increase the speed with which share prices absorb new information and reach equilibrium, thereby preventing abnomal returns from being achieved.


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Among companies where big data, cloud, mobile, and social technologies are critical parts of the infrastructure, how technologies are, or will soon be?
Forty-four percent of survey respondents say that mobile is now a critical part of their infrastructure. It’s especially important in some industries—51 percent of the respondents in the utilities and technology sectors indicated that mobile devices and access are critical.

Nearly two-thirds (64 percent) of respondents say that “anywhere access” to corporate apps and data is the biggest benefit to using mobile, followed by increased productivity (53 percent). The two are undoubtedly linked, as mobile access to systems optimizes employee time.
A majority of survey respondents indicate that putting mobile functionality in the hands of employees is now a key requirement, and leading companies are also leveraging the growing ubiquity of smartphones to innovate and drive top-line revenue growth.

Management of the Detroit Lions professional football team, for example, is always looking for ways to improve the fan experience. In addition to offering wireless Internet access at Ford Field to Verizon customers and launching a digital raffle for charity on game days, the Lions released a free smartphone application that features exclusive in-stadium game day content, including instant replay from several different camera angles for every play, and concession maps. Eventually, the Lions intend to add other features to the smartphone app, including in-seat concession ordering.

“Mobile is a gateway to our fan base,”

says Thomas Horrom, vice president of technology for the Detroit Lions.

Without it, we’re not able to get creative or innovative in our engineered touch points.”

Delta Air Lines is another company that is using mobile technologies to innovate. The airline announced it had begun equipping its 19,000 flight attendants with mobile devices, which have increased incremental revenue from in-flight purchases.
Here are some steps you can take to ensure that your clients receive excellent service every step of the way.

  • Put your customer service policy in writing.

    These principles should come from you, but every employee should know what the rules are and be ready to live up to them. This doesn’t have to be elaborate.

    Something as simple as,

    the customer is always right”

    can lay the necessary groundwork, although you may want to get more detailed by saying, for instance, any employee is empowered to grant a 10 percent discount to any dissatisfied customer at any time.

  • Establish support systems that give employees clear instructions for gaining and maintaining service superiority

    These systems will help you outservice any competitor by giving more to customers and anticipating problems before they arise.

  • Develop a measurement of superb customer service

    Don’t forget to reward employees who practice it consistently.

  • Be certain that your passion for customer service runs rampant throughout your company

    Employees should see how good service relates to your profits and to their futures with the company.This commitment must be so powerful that every one of your customers can sense it.

  • Share information with people on the front lines

    Meet with your employees regularly to talk about improving service. Solicit ideas from employees-they are the ones who are dealing with customers most often.

  • Act on the knowledge that what customers value most are attention, dependability, promptness and competence

    They love being treated as individuals and being referred to by name.

The efficient market hypothesis suggests that future share prices cannot be predicted by studying past prices and as we have seen, there is extensive evidence to support this view and the right information in collaborating with your partners.

Despite the evidence, investment strategies based on the study of past share prices, or on the analysis of published information such as annual accounts, are common, and the view held by many financial analysts seems to be therefore that capital markets are inefficient.

“Technical analysis involves the use of charts (Chartism) and other methods to predict future shares prices and share price trends, clearly implying that a relationship exists between past and future prices. “


For technical analysis to lead to abnormal returns on a regular basis, capital markets cannot even be weak form efficient.

Fundamental analysis are public information to calculate a fundamental value for a share and then offer investment advice by comparing the fundamental value with the current market price.

It is not possible to make abnomal gains from fundamental analysis if capital markets are semi-strong form efficient, since all publicly available information will already be reflected in share prices.

“Bolster the growing consensus among academics, consultants, and other industry experts that simply spending more on emerging technologies isn’t enough to boost business outcomes.”


Instead, companies that both identify which core business capabilities they need to differentiate and make a commitment to transform these core business capabilities with the right digital technology will greatly outperform competitors who don’t.

For example, a new study by George Westerman, Didier Bonnet, and Andrew McAfee found that firms with a strong vision and mature processes for digital transformation were more profitable on average, had higher revenues, and achieved a bigger market valuation than competitors without a strong vision.

“As with any emerging technology, however, there are significant challenges associated with cloud, mobile, social, and big data initiatives. “

The survey suggests that the primary risks preventing their wider adoption are data security issues, lack of interoperability with existing IT systems, and lack of control.
However, executives from leading organizations—several of whom were interviewed for this report— are overcoming those hurdles to achieve top-line and customer-facing business benefits.

“Strategic options involve the options for strategy in terms of both the directions in which strategy might move and the methods by which strategy might be pursued.”

For example, an organisation might have to choose between alternative diversification moves, for example entering into new products and markets.

“As it diversification moves, it has different methods available to it for example, developing a new product itself or acquiring an organisation already active in the area.


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Financial Goals

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In the new case of the industries you  should be proactive in helping achieving and creating your goals.

When you’re a start-up with few employees and few customers, it’s easy to stay on top of what customers want and what they’re getting. But as you add more customers and employees, you add links to the customer service chain. That creates the potential for growth and the potential for poor service along the way. That’s why creating a customer service policy and adhering to it is so important. Here are some steps you can take to ensure that your clients receive excellent service every step of the way.

  1. Put your customer service policy in writing. These principles should come from you, but every employee should know what the rules are and be ready to live up to them. This doesn’t have to be elaborate. Something as simple as “the customer is always right” can lay the necessary groundwork, although you may want to get more detailed by saying, for instance, “any employee is empowered to grant a 10 percent discount to any dissatisfied customer at any time.”
  2. Establish support systems that give employees clear instructions for gaining and maintaining service superiority. These systems will help you outservice any competitor by giving more to customers and anticipating problems before they arise.
  3. Develop a measurement of superb customer service. Don’t forget to reward employees who practice it consistently.
  4. Be certain that your passion for customer service runs rampant throughout your company. Employees should see how good service relates to your profits and to their futures with the company.
  5. Be genuinely committed to providing more customer service excellence than anyone else in your industry. This commitment must be so powerful that every one of your customers can sense it.
  6. Share information with people on the front lines.Meet with your employees regularly to talk about improving service. Solicit ideas from employees-they are the ones who are dealing with customers most often.
  7. Act on the knowledge that what customers value most are attention, dependability, promptness and competence. They love being treated as individuals and being referred to by name.

 

It has been about trust and it has been about getting there faster than anybody else,as we are driving innovation and bring ideas from other industries through our success.

 

Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.” 

 Howard Stevenson 

 

This is one of the first definitions of entrepreneurism.It perfectly captures the nature of entrepreneurship and highlights some key qualities that successful entrepreneursshare. Entrepreneurs are confident in their abilities and they are able to recognize opportunities where many others don’t see them.




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The Latest Business News  On Strategy Practise

Business man with checkboxes

Create differentiation and leadership digital engagement, alignment, innovation persistency connectivity, mobile and cloud lead into market efficiency. This initiatives are driving manufacturers to move at the speed of thought. Leverage this transformation is important.

 

However, market efficiency – championed in the efficient market hypothesis (EMH)”

 

Formulated by Eugene Fama in 1970, suggests that at any given time, prices fully reflect all available information on a particular stock and/or market. Fama was awarded the Nobel Memorial Prize in Economic Sciences jointly with Robert Shiller and Lars Peter Hansen in 2013. According to the EMH, no investor has an advantage in predicting a return on a stock price because no one has access to information not already available to everyone else.

 

The Effect of Efficiency: Non-Predictability

The nature of information does not have to be limited to financial news and research alone; indeed, information about political, economic and social events, combined with how investors perceive such information, whether true or rumored, will be reflected in the stock price.

According to the EMH, as prices respond only to information available in the market, and because all market participants are privy to the same information, no one will have the ability to out-profit anyone else.

In efficient markets, prices become not predictable but random, so no investment pattern can be discerned. A planned approach to investment, therefore, cannot be successful.

 

“This random walk of prices”

 

Commonly spoken about in the EMH school of thought, results in the failure of any investment strategy that aims to beat the market consistently. In fact, the EMH suggests that given the transaction costs involved in portfolio management, it would be more profitable for an investor to put his or her money into an index fund.

 

Anomalies: The Challenge to Efficiency

In the real world of investment, however, there are obvious arguments against the EMH. There are investors who have beaten the market – Warren Buffett, whose investment strategy focuses on undervalued stocks, made billions and set an example for numerous followers.

There are portfolio managers who have better track records than others, and there are investment houses with more renowned research analysis than others. So how can performance be random when people are clearly profiting from and beating the market?

Counter arguments to the EMH state that consistent patterns are present. For example, the January effect is a pattern that shows higher returns tend to be earned in the first month of the year; and the weekend effect is the tendency for stock returns on Monday to be lower than those of the immediately preceding Friday.


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Latest News & Developments in Business Strategy Practice

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By the end of the century, a third of the workforce will be “knowledge workers”, or people whose productivity is marked by adding value to information, whether as market analyst, writers, or computer programmers.

Peter Druker, the eminent business maven who coined the term “knowledge worker“, points out that such workers’ expertise is highly specialized, and that their productivity depends on their efforts being coordinated as part of an organisational team: writers are not publishers; computer programmers are not software distributors. While people have always worked in tandem, Druker notes that with knowledge work,

” Teams become the work unit rather than the individual himself.”

Perhaps the most rudimental form of organisational team-work is the meeting, that inescapable part of an executive’s office in a boardroom, on a conference call, in someone’s office.

Meetings bodies in the same room are but the most obvious, and at the somewhat antiquated, example of the sense in which work is shared.

Electronic networks, email, teleconferences, work teams, informal networks and the like are emerging as new functional entities in organisations. To the degree that explicit hierarchy as mapped on an organisational chart is the skeleton of an organisation, these human touch points are its central nervous system.

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The total the talents and skills involved, whatever people come together to collaborate, whether it be in an executive planning meeting or as a team-working toward a shared product, there are in a very real sense on which they have been included in a group of IQ.

In maximizing the excellence of a group’s product, the degree to which the members were able to create a state of internal harmony, lets them take the advantage of the full talent of their members.


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Exploring Corporate Strategy

1. Human resource management and global business strategy

Challenges position, choices and action that should be seen as closely related. In practise none has priority over another, this sequence is not meant to suggest that the process of strategic management must follow a neat and tidy path. Indeed, the evidence on how strategic management happens in practice suggest that it usually does not occur in tidy ways.
Elements of strategic management in linear sequence is characterised first by understanding the strategic position, than strategic choices and finally putting strategy in action. Indeed, many texts on the subject to just this. However, in practise, the elements of strategic management do not follow this linear sequence, they are interlinked and feed back on each other.

The inter-connected circles of the above exhibit are designed to emphasise this non-linear nature of strategy.

Corporate social responsibility is among the top challenges. Companies face when expanding into new markets, especially in developing regions.

Business practices that are acceptable locally are frequently at odds with the values of the company and the laws of its regulatory agencies. This creates a tug-of-war between social responsibility and the need to be successful in those markets, which can turn into significant risk.
Guiding corporate strategic decision-making challenge incorporating the human capital opportunities and risks from operating abroad into corporate strategic decision-making workforce opportunities that are marked both by steady improvements through the political machinations that open trade across borders and enable cross-border migrations, and by sudden and often unexpected changes such as the relaxation in relations between the United States and Cuba; conflicts in Syria, Iraq and Ukraine; and dramatic swings in oil prices.
The challenge for companies is to remain nimble to take advantage of the opportunities while avoiding the risks. HR’s challenge is to gather, assess and understand all the cultural, labor and market complexities of operating in each market so that the company can predict opportunities and risks, know when to enter or exit a market, and integrate successfully into new local markets.
The success of a company’s global growth hinges on HR integrating the workforce. HR-led teams need to assess the complexities of bringing together workforces with often dissimilar societal and corporate cultures. HR can, for example, identify potential roadblocks early and plan interventions before problems arise. The food facilities management company Sodexo identified a need for diversity and inclusion across its 355,000 employees from North American to China. It developed training programs that resulted in significant numbers of women, youths, people with disabilities and indigenous workers productively joining its workforce across the globe.

2.Making the business case for CSR

The challenge for HR is to gain a detailed understanding of local environments and their accepted business practices. It then needs to establish protocols that are customized for each region and communicate these protocols throughout the organization and across its supply chain.
When local labor laws or practices conflict with the organization’s CSR policies, HR needs to be the voice of the individual and ensure that the company maintains its integrity, even when this goes against the potential economic value.

HR faces the additional challenge of demonstrating to the company how good CSR policies strengthen the brand, increase customer loyalty and boost shareholder value.

3.Balancing corporate and societal cultures while promoting diversity

Some cultural attributes, such as a command-and-control management style, can be modified to fit local cultures, while others, such as integrity and human rights policies, cannot be compromised. HR needs to understand and deal with the complexities, deciding which corporate culture elements can change and which are essential to protecting the organization’s values and ethics. The company cannot change anti-bribery policies, but it may choose to change its dress-down-Fridays rule.

Management may also choose to impose cultural elements, such as giving back to the community consistently across the global organization. The challenge becomes even more complex when dealing with new workers, those engaged through means such as crowdsourcing, as well as remote and temporary workers.

HR also needs to develop programs to assist executives to adapt when they move from the head office to regions with different societal and cultural norms.



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