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Outthink The Future

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| Identifying and Engaging |

One of the main reasons for this failure rate is that entrepreneurs don’t identify their target demographic correctly. Without clarifying your core customers, selling is ultimately a function of individual, heroic efforts in the field, not a scalable platform for growth.

The following four steps can reverse this downward trend:

 

Assemble and analyze customer data

Every firm should know how customer attributes link to core selling metrics, including profitability, cost of customer acquisition and customer-lifetime value. While this information is often scattered across multiple functions in a company, it’s worth pulling together to establish a common language of customer value across functions.

 

Get the field involved

People in frontline positions hold the best understanding of customer behavior as it relates to the seller’s cost implications and should be involved in reviewing the data gathered. What can they tell us about profitable or unprofitable customer attributes? What else might be driving customer acquisition costs in a segment? What are the implications for the organizational change?

 

Determine who actually generates cash

Implications from deeper understanding of your customers typically involve changes in how you measure sales effectiveness, performance reviews, incentives, product mix, channels and sometimes “addition by subtraction,” or the process of improving performance by not selling to certain types of customers. The costs of serving customers, for example, can vary dramatically for the seller. Some customers require more calls, some buy few large production-efficient order quantities and others may buy more in overall volume but with many just-in-time orders, impacting delivery and other cost-to-serve elements.

Sales people can be dogged optimists in their call patterns, often assuming that “there must be a pony in there somewhere.” Yet by knowing who the customers that generate cash really are, you’re able to clarify the value proposition embedded in a strategy and align resources accordingly.

 

Communicate your criteria

The breadth of potential changes means that communication is critical. Leaders must devote time and effort to discussing the rationale and what they mean for the business. In practice, most companies do not take customer selection seriously until things go sour. However, communicating customer criteria now can contribute to faster decision making and greater profit later.

The marketplace has no responsibility to inform you whether or not your sales people are barking up the wrong tree.

It’s your responsibility as an entrepreneur to think through and clarify your customer selection criteria. Done correctly, it can provide a scalable sales model, focus resources and establish an ongoing process for adapting your criteria in the face of inevitable market changes.


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NEWS & OVERVIEW DISCUSSIONS IN DIFFERENT MARKET INDUSTRIES

New Happenings

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  • Its all about the survival of the those who can adapt. Its a mass of changes.

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.

 

Phrases That’ll Make Your Customers Happy

Principles of customer service are all very well, but you need to put those principles into action with everything you do and say.

 

There are certain “magic words” customers want to hear from you and your staff. Make sure all your employees understand the importance of these key phrases:

 

  • How can I help?”Customers want the opportunity to explain in detail what they want and need. Too often, business owners feel the desire or the obligation to guess what customers need rather than carefully listening first. By asking how you can help, you begin the dialogue on a positive note (you are “helping,” not “selling”). And by using an open-ended question, you invite discussion.
  • “I can solve that problem.”Most customers, especially business-to-business customers, are looking to buy solutions. They appreciate direct answers in a language they can understand.
  • I don’t know, but I’ll find out.”When confronted with a truly difficult question that requires research on your part, admit that you don’t know the answer. Few things ruin your credibility faster than trying to answer a question when you are unsure of all the facts. Savvy buyers may test you with a question they know you can’t answer and then just sit quietly while you struggle to fake an intelligent reply. An honest answer enhances your integrity.
  • “I will take responsibility.”Tell your customer you realize it’s your responsibility to ensure a satisfactory outcome to the transaction. Assure the customer you know what he or she expects and will deliver the product or service at the agreed-upon price. There will be no unexpected changes or expenses required to solve the problem.
  • “I will keep you updated.”Even if your business is a cash-and-carry operation, it probably requires scheduling and coordinating numerous events. Assure your customers they will be advised of the status of these events. The longer your lead time, the more important this is. The vendors customers trust the most are those that keep them apprised of the situation, whether the news is good or bad.
  • I will deliver on time.”A due date that has been agreed upon is a promise that must be kept. “Close” doesn’t count.
  • Monday means Monday.”The first week in July means the first week in July, even though it contains a national holiday. Your clients are waiting to hear you say “I deliver on time.” The supplier who consistently does so is a rarity and will be remembered.
  • It’ll be just what you ordered.”It will not be “similar to,” and it will not be “better than” what was ordered. It will be exactly what was ordered. Even if you believe a substitute would be in the client’s best interests, that’s a topic for discussion, not something you decide on your own. Your customer may not know (or be at liberty to explain) all the ramifications of the purchase.
  • The job will be complete.”Assure the customer there will be no waiting for a final piece or a last document. Never say you are finished “except for….”
  • “I appreciate your business.“This means more than a simple “Thanks for the order.” Genuine appreciation involves follow-up calls, offering to answer questions, making sure everything is performing satisfactorily, and ascertaining that the original problem has been solved.

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Neglecting any of these steps conveys the impression that you were interested in the person only until the sale was made. This leaves the buyer feeling deceived and used, and creates ill will and negative advertising for your company. Sincerely proving you care about your customers leads to recommendations and repeat sales.

 

Never Let Your Customers Forget You


One important tool for generating repeat business is following up. Effective follow-up begins immediately after the sale when you call the customer to say “thank you” and find out if he or she is pleased with your product or service. Beyond this, there are several effective ways to follow up that ensure your business is always in the customer’s mind.

  • Let customers know what you are doing for them. This can be in the form of a newsletter mailed to existing customers, or it can be more informal, such as a phone call. Whatever method you use, the key is to dramatically point out to customers the excellent service you are giving them. If you never mention all the things you are doing for them, customers may not notice. You aren’t being cocky when you talk to customers about all the work you have done to please them. Just make a phone call and let them know they don’t have to worry because you handled the paperwork, called the attorney or double-checked on the shipment-one less thing they have to do.
  • Write old customers personal, handwritten notes frequently.“I was just sitting at my desk and your name popped into my head. Are you still having a great time flying all over the country? Let me know if you need another set of luggage. I can stop by with our latest models any time.” Or if you run into an old customer at an event, follow up with a note: “It was great seeing you at the CDC Christmas party. I’ll call you early in the New Year to schedule a lunch.”
  • Keep it personal.Voice mail and e-mail make it easy to communicate, but the personal touch is often lost. If you’re having trouble getting through to someone whose problem requires that personal touch, leave a voice-mail message that you want to talk to the person directly or will stop by his or her office at a designated time.
  • Remember special occasions.Send regular customers birthday cards, anniversary cards, holiday cards…you name it. Gifts are excellent follow-up tools, too. You don’t have to spend a fortune to show you care; use your creativity to come up with interesting gift ideas that tie into your business, the customer’s business or his or her recent purchase.
  • Pass on information.If you read an article, see a new book, or hear about an organization a customer might be interested in, drop a note or make a quick call to let them know.
  • Consider follow-up calls as business development calls.When you talk to or visit old clients or customers, you’ll often find they have referrals to give you, which can lead to new business.

With all your existing customers can do for you, there’s simply no reason not to stay in regular contact with them. Use your imagination, and you’ll think of plenty of other ideas that can help you develop a lasting relationship.

 

Dealing With Unsatisfied Customers

Studies show that the vast majority of unsatisfied customers will never come right out and tell you they’re unsatisfied. They simply leave quietly, later telling everyone they know not to do business with you. So when a customer complains, don’t think of it as a nuisance-think of it as a golden opportunity to change that customer’s mind and retain his or her business.

Even the best product or service receives complaints now and then. Here’s how to handle them for positive results:

 

  • Let customers vent their feelings. Encourage them to get their frustrations out in the open.
  • Never argue with a customer.
  • Never tell a customer “You do not have a problem.” Those are fighting words.
  • Share your point of view as politely as you can.
  • Take responsibility for the problem. Don’t make excuses. If an employee was sick or a supplier let you down, that’s not the customer’s concern.
  • Immediately take action to remedy the situation. Promising a solution and then delaying it only makes matters worse.
  • Empower your front-line employees to be flexible in resolving complaints. Give employees some leeway in deciding when to bend the rules. If you don’t feel comfortable doing this, make sure they have you or another manager handle the situation.

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Latest News Section Sources Including Companies and Bank Reviews

 

Uniquely world

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What we are gonna be seeing is more and more organisations that use technology like sales force, cloud base technologies like social mobile, data science, to bring together their employee, their patients and other partners outside the organisation.

A lot of the software that powers companies is decades old, expensive and not intuitive to operate. If you use Salesforce or SAP, you know how convoluted those systems are.”

From long-time employees who still remember green-screen terminals to 20-somethings who think all of this sounds archaic, a 2-year-old company named Sapho is working to make basic tasks easier for everyone. Sapho aims to bypass all of the gobbledygook and behave more like your favorite social networking apps.

After nearly two decades of founding and selling companies, Peter Yared and Fouad EINaggar met in late 2011 when they began executive roles at CBS Interactive. Yared, brought on as CIO/CTO, had a technical background designing internet infrastructure. EINaggar, on the business operations side, had spent seven years as a venture capitalist in Silicon Valley.

In 2014, they founded Sapho, and today, they are announcing the Sapho Micro App Platform. It allows companies to build applications that serve specific functions, such as prompting a business owner to sign a contract or approve a product discount. Sapho taps into behemoth software systems such as Salesforce, SAP, Omniture, Oracle and Workday and acts as a liaison between the information they contain and the employee who needs that information.

Users don’t have to log in to a hard-to-decipher interface and navigate to the data they need. Sapho anticipates users’ needs and pushes notifications to them when they need to fulfill a particular duty, such as approving an employee’s vacation time, according to the company.

Sapho allows clients to pay based on the number of monthly active users of its software ($2 to $10, depending on company size). Clients include Turner, Google and the founders’ former employer, CBS Interactive, among others, and the company just completed a $9.5 million series A funding round.

Yared and EINaggar have faced skepticism from those who have mastered legacy software or are reluctant to add a third party into the mix. But the reality is, most people in a given company have little concept of what enterprise software is for or how to harness it to their advantage.

In an interview with Entrepreneur, the founders explained how they came up with the idea for Sapho and how they approach legacy tech users – by respecting rather than dismissing those who are set in their ways.

What is your approach to modernizing business software?

Fouad EINaggar, Sapho co-founder and CEO: Workflows on enterprise software haven’t changed in 30 years. Salesforce today looks just Siebel did in 1999, Workday today looks just like PeopleSoft in 1998. You’ve got to think about what you want, you’ve got to remember where it is, you’ve got to log in somewhere and then you’ve got to navigate a piece of software that looks like a tax form.

Things like Google Now, Siri and Facebook, they’re telling us that there’s a new way. Systems are figuring out what’s relevant to you in advance and pushing it to you before you even know that you need it.

Sapho offers a simplified mobile interface that prompts employees to complete essential tasks without logging in to and navigating large enterprise software systems.

 

What is a micro app?

EINaggar: A micro app is a small piece of a bigger app. There are 8 million features in an HR system, but one thing that everyone has to do is approve vacation time. I don’t need to log into a system that has 8 million features to go and do this one thing.

There’s a photocopier in your office right now. It’s got a million buttons on the left. Someone in your office knows how to use that thing like a Ferrari. They can print out 30 double-sided color-copies that are pre-stapled. I do not know how to use any of those buttons. I walk up to a copier and I just want to push a green button, make my copy and move on. And that’s what we do. These micro apps are the green button on the copier.

We’re not necessarily replacing things. We’re making things that people have already spent money on more useful.

 

How did your background experience, founding various companies and working at CBS Interactive, pave the way for Sapho?

Peter Yared, Sapho co-founder and CTO:CBS had bought a series of companies, and the technology was a little long in the tooth. Fouad joined just after me to run the business operations there, and we met each other very early. Our offices were next to each other. We brought in modern software, and we really enjoyed working together and partnered well together, and we were like, we should go solve this problem.

EINaggar: We’re both really strong personalities. Peter is a technical genius who hasn’t really had a great business partner on the other side. And I’m, what would you say, Peter, an above-mediocre business person? (Laughs.) I’ve never really had a great technical partner.

At CBS, Peter and I sat down and were like, “Why aren’t people using this software that we’re spending money on?” We spend $300 billion a year on enterprise software and IT infrastructure, and people aren’t using it. We’re not getting increases in productivity. We’re not extracting values from these investments.

That’s what got us really excited. Changing the way people work going forward, making work different, making work better. That is a really exciting way to wake up every morning, at 4:30 or 5 a.m. and be excited about the day, be ready to tapdance to work. You’re solving something real. We’re not another laundry on-demand delivery service.

In Silicon Valley, I think people forget to respect the investments that people have made. It’s so much easier to call somebody a dinosaur than to actually think about why they’re doing things the way they are. And we were the dinosaurs when we were at CBS. When you are the dinosaur, you start realizing there’s a reason that people have to make decisions the way that they do. And our view has been, let’s respect that, let’s be pragmatic, let’s fit into the infrastructure that people have. Because people aren’t going to just rip out a billion dollars of infrastructure investment because they’re called a dinosaur. That’s just not how the world works.

Sapho’s drag-and-drop micro app builder allows companies to customize how and when employees receive data information from databases, internal web servers and other systems of record.

 

Adding a new third-party mediator into the mix requires trust. How do you mitigate those concerns?

EINaggar: I was a VC in Silicon Valley for seven years. Peter’s been in Silicon Valley for three decades. Everyone there is living in the future. We had lots of friends come to CBS being like, “Can you guys deploy my awesome solution?” and then be like, “We’re gonna punch a hole in your firewall,” or “Don’t worry, we’re gonna download all of your ERP data into our public cloud.” And what we learned really quickly was that, at these big companies, that model just does not work when you’re touching mission-critical data. Security is becoming more and more of a concern.

Yared: That’s why we didn’t build this as a cloud system. Their HR and financial data is on their own database that they control. It’s harder to deploy and sell and build software that way, but it also makes the customers much, much more comfortable.

And then, some companies just don’t like to buy from startups, and others do. We have a good pedigree and a good background, and if people are like, “Hey, you’re a little too young for us,” we don’t take offense to it, we’re just like, “Well, let’s keep this conversation going.”

Adopting Sapho will require people who are set in their ways to make a change.

 

How do you address those challenges, and others, in trying to get organizations to implement Sapho and see that it will be helpful to them?

EINaggar: It’s something that we learned the hard way at CBS, where we were modernizing a lot of the infrastructure in the organization.

You know, you have people who are as legacy as the legacy systems. We’ve got one customer that, the CEO of the company is a wizard on that green-screen terminal. I mean, the guy knows how to do everything he wants on it. In fact, he got them to build an emulator on his iPad of the green-screen terminal so he knows how it works!

And so, when we thought about Sapho, we said, OK, how are we going to get around that? Millennials don’t like using Salesforce, because it’s a piece of crap. They don’t like going onto a green-screen terminal. They can’t even comprehend that things like this still exist, but we find them at Fortune 100 companies all the time.

We remember an era when you had to load software onto your machine with a cassette, or with a floppy disc. You have a new generation of employees whose whole concept of loading software is an app store. Where they just go and they download Instagram, it takes one second, and they take a picture and type a sentence and it magically goes out to their social networks. They didn’t need a training session for half a day. They didn’t need a manual that’s 800 pages. It just works.

People at these organizations start using the micro app, and they go, “oh, God, this is so easy.” And that’s how we start expanding in an organization.

That power user, they’re still going to go in, and they’re still going to use their Salesforce. They’re still going to go into their SAP. And more power to them. We don’t reinvent the wheel. It’s about 15 minutes to success. We want to make it very easy for people to drop this in, connect it to their system and start building these micro apps. And that only happens if you respect the infrastructure that people have spent trillions of dollars on.

This interview has been edited.


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News Section Including Companies and Bank Reviews

Accelerated processes

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Every step of complex inquiring

Achieve to order smarter to proactive customers, partner and distributor engagement, to be both together in global collaboration across experts anywhere.A point to the increase of profitability with faster CPO and higher margin for better solutions.

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.

 

Phrases That’ll Make Your Customers Happy


Principles of customer service are all very well, but you need to put those principles into action with everything you do and say. There are certain “magic words” customers want to hear from you and your staff. Make sure all your employees understand the importance of these key phrases:

  • “How can I help?”Customers want the opportunity to explain in detail what they want and need. Too often, business owners feel the desire or the obligation to guess what customers need rather than carefully listening first. By asking how you can help, you begin the dialogue on a positive note (you are “helping,” not “selling”). And by using an open-ended question, you invite discussion.
  • I can solve that problem.”Most customers, especially business-to-business customers, are looking to buy solutions. They appreciate direct answers in a language they can understand.
  • I don’t know, but I’ll find out.When confronted with a truly difficult question that requires research on your part, admit that you don’t know the answer. Few things ruin your credibility faster than trying to answer a question when you are unsure of all the facts. Savvy buyers may test you with a question they know you can’t answer and then just sit quietly while you struggle to fake an intelligent reply. An honest answer enhances your integrity.
  • I will take responsibility.”Tell your customer you realize it’s your responsibility to ensure a satisfactory outcome to the transaction. Assure the customer you know what he or she expects and will deliver the product or service at the agreed-upon price. There will be no unexpected changes or expenses required to solve the problem.
  • I will keep you updated.”Even if your business is a cash-and-carry operation, it probably requires scheduling and coordinating numerous events. Assure your customers they will be advised of the status of these events. The longer your lead time, the more important this is. The vendors customers trust the most are those that keep them apprised of the situation, whether the news is good or bad.
  • I will deliver on time.”A due date that has been agreed upon is a promise that must be kept. “Close” doesn’t count.
  • Monday means Monday.”The first week in July means the first week in July, even though it contains a national holiday. Your clients are waiting to hear you say “I deliver on time.” The supplier who consistently does so is a rarity and will be remembered.
  • It’ll be just what you ordered.”It will not be “similar to,” and it will not be “better than” what was ordered. It will be exactly what was ordered. Even if you believe a substitute would be in the client’s best interests, that’s a topic for discussion, not something you decide on your own. Your customer may not know (or be at liberty to explain) all the ramifications of the purchase.
  • The job will be complete.”Assure the customer there will be no waiting for a final piece or a last document. Never say you are finished “except for….”
  • “I appreciate your business.”This means more than a simple “Thanks for the order.” Genuine appreciation involves follow-up calls, offering to answer questions, making sure everything is performing satisfactorily, and ascertaining that the original problem has been solved.

Neglecting any of these steps conveys the impression that you were interested in the person only until the sale was made. This leaves the buyer feeling deceived and used, and creates ill will and negative advertising for your company. Sincerely proving you care about your customers leads to recommendations and repeat sales.

 

Never Let Your Customers Forget You


One important tool for generating repeat business is following up. Effective follow-up begins immediately after the sale when you call the customer to say “thank you” and find out if he or she is pleased with your product or service. Beyond this, there are several effective ways to follow up that ensure your business is always in the customer’s mind.

  • Let customers know what you are doing for them.This can be in the form of a newsletter mailed to existing customers, or it can be more informal, such as a phone call. Whatever method you use, the key is to dramatically point out to customers the excellent service you are giving them. If you never mention all the things you are doing for them, customers may not notice. You aren’t being cocky when you talk to customers about all the work you have done to please them. Just make a phone call and let them know they don’t have to worry because you handled the paperwork, called the attorney or double-checked on the shipment-one less thing they have to do.
  • Write old customers personal, handwritten notes frequently.I was just sitting at my desk and your name popped into my head. Are you still having a great time flying all over the country? Let me know if you need another set of luggage. I can stop by with our latest models any time.” Or if you run into an old customer at an event, follow up with a note: “It was great seeing you at the CDC Christmas party. I’ll call you early in the New Year to schedule a lunch.”
  • Keep it personal.Voice mail and e-mail make it easy to communicate, but the personal touch is often lost. If you’re having trouble getting through to someone whose problem requires that personal touch, leave a voice-mail message that you want to talk to the person directly or will stop by his or her office at a designated time.
  • Remember special occasions.Send regular customers birthday cards, anniversary cards, holiday cards…you name it. Gifts are excellent follow-up tools, too. You don’t have to spend a fortune to show you care; use your creativity to come up with interesting gift ideas that tie into your business, the customer’s business or his or her recent purchase.
  • Pass on information.If you read an article, see a new book, or hear about an organization a customer might be interested in, drop a note or make a quick call to let them know.
  • Consider follow-up calls as business development calls.When you talk to or visit old clients or customers, you’ll often find they have referrals to give you, which can lead to new business.

With all your existing customers can do for you, there’s simply no reason not to stay in regular contact with them. Use your imagination, and you’ll think of plenty of other ideas that can help you develop a lasting relationship.

 

Dealing With Unsatisfied Customers


Studies show that the vast majority of unsatisfied customers will never come right out and tell you they’re unsatisfied. They simply leave quietly, later telling everyone they know not to do business with you. So when a customer complains, don’t think of it as a nuisance-think of it as a golden opportunity to change that customer’s mind and retain his or her business.

Even the best product or service receives complaints now and then. Here’s how to handle them for positive results:

  • Let customers vent their feelings. Encourage them to get their frustrations out in the open.
  • Never argue with a customer.
  • Never tell a customer “You do not have a problem.” Those are fighting words.
  • Share your point of view as politely as you can.
  • Take responsibility for the problem. Don’t make excuses. If an employee was sick or a supplier let you down, that’s not the customer’s concern.
  • Immediately take action to remedy the situation. Promising a solution and then delaying it only makes matters worse.
  • Empower your front-line employees to be flexible in resolving complaints. Give employees some leeway in deciding when to bend the rules. If you don’t feel comfortable doing this, make sure they have you or another manager handle the situation.

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Competitive forces

 

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The level at which a business can “engage” its employees is what determines its internal success. Yet, employee engagement has consistently averaged less than 33 percent over the past four years, according to Gallup survey of more than 80,000 adults in the United States.”

Still, the root of the problem isn’t simply a lack of effort. Rather, many leaders are not even making employee engagement a priority – they’re not, well, engaging with engagement.

Here are four ways leaders can improve on that goal:

 

1. Make employee engagement an ongoing effort

Many people in charge get into the habit of analyzing employee engagement as a “one-and-done” process. In fact, 98 percent of CEOs only look at annual employee engagement surveys once a year and don’t discuss the matter with their employees.

An ongoing effort has to begin on day one. Instead of in-person onboarding programs that put new hires to sleep, incorporate technology like CovertHR to build engagement into even the earliest stages of the employee life cycle. CovertHR online activities allow employees to have fun and socialize while they’re completing tasks.

When new team members are introduced to an engaged environment and process, they feel more comfortable amplifying an engaged culture.

 

2. Don’t dump problems on HR.

The lack of employee engagement is as much an employer’s problem as it is HR’s. So, why are a majority leaders relying on HR to fix the problem? The Motivosity survey indicated that 70 percent of CEOs surveyed were delegating culture and engagement problems to HR.

Not surprisingly, it takes an engaged team to be actively involved in fixing employee-engagement issues. Instead of just assigning tasks to HR to fix, involve managers and employees who possess natural engaging characteristics. Present the problem and brainstorm together to come up with solutions that benefit everyone. Instead of delaying the process, or having HR come seeking approval for changes, be involved in the solution yourself.

 

3. Make employee engagement engaging

It’s no secret – leaders acknowledge just how important employee feedback is. In fact, a survey by Waggl Human Capital Pulse found that 97 percent of the business leaders, HR leaders and consultants among the 500,000 interviewed said they believed that listening to employees and incorporating their ideas was critical to an organization’s success.

Additionally, only a minority (38 percent) agreed that hearing from employees once a year through an annual survey is sufficient to give organizations the timely insights they need.

So, the message is that leaders do recognize listening to employees as being important, yet the way they typically do that is inefficient.

Instead of sending out a survey (that no one responds to), start with an open discussion with employees. Let people freely speak their minds, and take notes on the feedback they offer. Hearing what people genuinely have to say will help you kick employee engagement off to a positive start.

At the same time, be mindful of those who are less comfortable in a large group setting. After the forum concludes, send out an anonymous survey giving these employees the chance to elaborate on topics they weren’t comfortable saying in front of a group.

To take employee engagement yet a step further, management and coworkers should engage on a personal level. As the company leader, put yourself in situations that will allow you to engage in activities that work for the company’s culture. Consider small-group lunches that have a “no work talk: rule.

Or do what Namely CEO regularly Matt Straz does: move your desk to be in the middle of the action with the team.

 

4. Encourage risk-taking.

A company is only as good as the employees behind it. That is why employers should promote innovation on a regular basis. Do this at your company by presenting problems to your teams; give them the opportunity to take risks (and don’t reprimand them for failures).

A fun and productive way to do this is to present the same problem to different teams and prompt them to solve it. Each team can then present its solution to the entire group, with the group offering feedback and constructive criticism, and receiving in return exposure to new perspectives and improved-upon ideas.

This key theme of todays message is that you really need to get behind the value chain collaboration and execution and to do that you have to focus on the front engagement for faster results. This engagement will rub off on employees and ultimately create a more productive work environment that allows constant collaboration – making employees feel engaged all-year-round.

What are other ways leaders can improve employee engagement?

 

Voice Power

 

It’s the morning of the big call.

You prepared your material and went to bed early- even if you didn’t get much sleep. Now you hover near the phone, waiting for it to ring, thinking about everything that might prevent you from establishing a great rapport. Maybe he’ll sound like Elmer Fudd. Or, worse, maybe you will.

Either way, an important connection is about to be made, sight unseen. And your voice will play a big role. How can you prevent your voice from sabotaging everything from business calls to presentations? Use these tips for working your voice, instead of letting it work you.

 

1. Rise and try to shine

After getting out of bed, head to the bathroom for some warm-ups. Look at yourself in the mirror and take deep breaths. Are your shoulders rising as you inhale? Don’t let them. Stand straight, relax and let your breath come in down low. It should feel like it’s entering your body around your waist, not being pulled down your throat.

 

2. Keep it up

Not only does slouching look like you couldn’t care less, but it also prevents your lungs from filling up. Full lungs keep your voice from cracking, make you sound more powerful and keep you from running out of air. When you realize you’re hunched over while on the phone, sit back and straighten your spine to allow more energy to come across.

 

3. Support can be beautiful

Some people are blessed with resonant voices like James Earl Jones or Lauren Bacall. Most of us aren’t. But rather than throwing in the towel, try wrapping it around your waist. Breathe in low and gently expand your abs and obliques. Relax, let go and pretend the towel is like the waistline of your sweatpants. You can feel it grow a little wider.

Then open up and say “Ah.” Now repeat. This time, use your abs to expand your waist. You’ll also feel the downward push of your lower abs. Say “Ah” once more, and as you expand, you’ll hear the sound get stronger. Use this technique for more volume and a stronger sound.

 

4.Open up

When you get nervous, your voice gets squeaky and high. Not the confident image you want to project. And the more you try and control it by force, the more you start to lose it altogether. The cure: breathing low, gently using your lower abs to push down and relax. And always let your throat be open and free of tension. An open throat protects your voice and produces a richer sound.

 

5. Variety is key

Want to control your whole audience? Speak in a monotone voice, and you can send a group of 2,000 people off to dreamland. Especially when working by phone, that dead air may not be your client pondering. Try listening for snoring. To prevent this, remember the “four P’s” of vocal variety:

  • Pace: Speak too fast and it sounds like you’re nervous or a used car salesman trying to pull a fast one. If the pace is too slow, you’re going to sound like the village idiot.
  • Pitch: Pit your voice too low and nobody will hear you. Speak too high and you sound nervous.
  • Pauses: Build them into your speech–sparingly. If pauses are too short, it’ll sound like you’re scrambling for words. But a few well-timed pauses create a sense of intrigue and curiosity.
  • Passion: This all-important quality will be the biggest selling point you have. Love your topic.

 

6. Get rid of nasality

There’s a problem if your voice sounds disturbingly like Fran Drescher’s. If you’re a whiner, try this: yawn. Feel your mouth open wide. You won’t feel that kind of space if you’re nasal. The soft palate -a flap of skin on the back of the roof of your mouth-lifts and allows air to float up into every chamber of your head, resulting in a full, resonant sound. It’s like a little trap door that can open and close. Conversely, when the soft palate lowers, the air stream is blocked off from the head, and the air can only pass out of the nose.

For a quick fix, say “Ing- Ah.” Elide the “Ing” right into the “Ah,” and don’t break them into two sounds. Feel what’s happening inside your mouth. On “Ing,” the back of your tongue is pressed up against the soft palate and no air can get into your head. It’s nasal. When you say “Ah,” the tongue peels down from the roof and allows the sound to lift.

 

7. Modify your accent

How boring the world would be if we all sounded the same. But if your native tongue gets in the way of communication, you should correct it. The process used to be called accent “elimination,” but “modification” is a more accurate term. Spend a few sessions with a voice coach who can give you the basic sounds of English, help you pronounce its most confusing words and model them for you, face-to-face.

 

8. Tune your tone

Being able to adjust your tone to any situation is paramount to successful business communication. If you do sound monotonous, ineffectual or annoying, you may lose a client. If your tone is lackluster, they think you’re bored. If you sound angry or bullying, that aggressive style can put them off. But if you’re able to suit your tone to any occasion, you’ll win the day. Learn how to sound passionate even if you’d rather be anywhere else.

 

9. Leave it at the beep

Leaving a great voice-mail message is essential. If you sound positive, polished and professional, people will get a wonderful “first vocal impression.” Leave your name clearly. Spell it if you have to. Leave your phone number, twice. Tell them briefly what you can do for them. Let them know when you can be reached, or ask them the best time for you to call back. Be brief, but not vague.

 

10. It is, actually, about you

The most important tip is to be authentic. Take time to find what’s unique about you- your sense of humor, your newfound confidence, your persona.

Stop trying to sound like a phony announcer.

Mastering these tips for voice power will soon become second nature. And if your potential client does sound like Elmer Fudd, well, know that your newfound vocal skills will make an excellent first impression. Weally.

Douglas Anderson is president of Your Voice Coach, a consultancy whose clients range from startups to Fortune 500 companies. His detailed programs and list of services can be found on his website,www.yourvoicecoach.com.

 

When you think of artificial intelligence (AI), you might think of dehumanizing interactions. Don’t confuse AI with primitive marketing automation.

Artificial Intelligence Drives Customer Experience, as AI expert and leading keynote speaker Christopher Penn, VP of Marketing Technology for SHIFT Communications says,

There are three levels of machine learning: AI where machines perform tasks normally performed by humans; machine learning.”

There are three levels of machine learning: AI where machines perform tasks normally performed by humans; machine learning.”

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How CEOs Manage Time

The scope of an organization’s managerial work is vast, encompassing functional agendas, business unit agendas, multiple organizational levels and myriad external issues. It also involves a wide array of constituencies—shareholders, customers, employees, the board, the media, government, community organizations, and more. Unlike any other executive, the CEO has to engage with them all.

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The epitome of leadership – The CEO in the lexicom of management

While CEOs are the ultimate power in their companies, they face challenges and constraints that few others recognize. Running a large global company is an exceedingly complex job.

The CEO must be the internal and external face of the organization through good times and bad, of course, having a great deal of help and resources at their disposal. However, they, more than anyone else in the organization, confront an acute scarcity of one resource. That resource is time. There is never enough time to do everything that a CEO is responsible for. Despite this, CEOs remain accountable for all the work of their organizations. 

The way CEOs allocate their time and their presence—where they choose to personally participate—is crucial, not only to their own effectiveness but also to the performance of their companies.

 

Where and how CEOs are involved
In determining what gets done and signals priorities for others it can also affect their legitimacy because a CEO who doesn’t spend enough time with colleagues will seem insular and out of touch, whereas one who spends too much time in direct decision making will risk being seen as a micromanager and erode employees’ initiative.

A CEO’s schedule (indeed, any leader’s schedule), then, is a manifestation of how the leader leads and sends powerful messages to the rest of the organization.

A crucial missing link in understanding the time allocation of CEOs—and making it more effective—has been systematic data on what they actually do.

Research on that has tended either to cover a small handful of CEOs, like the 1973 study in which Henry Mintzberg closely observed five chief executives (some of whom led nonprofits) for five days each, or to rely on large surveys that cover short periods (such as our HBS colleague Raffaella Sadun’s 2017 study based on daily phone surveys with 1,114 CEOs from a wide variety of companies in six countries over one week).


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Windows of opportunity

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This world is moving away from a system of national markets

Isolated from one another by trade barriers, distance or culture, advances in technology and mass communication have made it possible, for people in one part of the world to watch happenings in far off places.

Theses are often used interchangeably but they refer to different processes. The process of integration on a worldwide scale of markets and production, has a single accepted definition used for it, globalisation.

For it, national boundaries are not important economically; free trade and movement of labour and other resources result in the breakdown of these boundaries and one big global marketplace.

On the other hand, referring to resources is internationalisation for which the increased links between nation states, with respect for trade and movement of this resources in participating and co-operating with other nation states to a common end.The regional trade agreements and regionalism are important in this process the EU is an example.

Hyperglobalisation – an extreme view process where the world market is a borderless global market.Consisting of powerless nation states and powerful multinational corporations.”

The process of globalisation brings changes in both the power of countries and companies and in national characteristics and culture, generally accepted in a view called transformationalism. The main international organisation concerned with globalisation are the World Trade Organisation, the International Monetary Fund, the World Bank and the OECD.

The OECD categories members into three bands high income countries, which include the EU, North America and Australia; middle income countries, which include East Asia and the Pacific Rim, and low-income countries, which include South Asia and Africa.

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If it can be sustained, the robust economic growth that we have seen this year could help lift millions out of poverty, particularly in the fast-growing economies of South Asia. But growth alone won’t be enough to address pockets of extreme poverty in other parts of the world.”

World Bank Group President Jim Yong Kim said.

 

Policymakers need to focus on ways to support growth over the longer run

 

By boosting productivity and labor force participation in order to accelerate progress toward ending poverty and boosting shared prosperity. Activity in advanced economies is expected to grow 2.2 percent in 2018 before easing to a 2 percent rate of expansion next year, as central banks gradually remove monetary stimulus, the June 2018 Global Economic Prospect essays.

 

Growth in emerging market and developing economies

 

Overall is projected to strengthen to 4.5 percent in 2018, before reaching 4.7 percent in 2019 as the recovery in commodity exporters matures and commodity prices level off following this year’s increase.  This outlook is subject to considerable downside risks. The possibility of disorderly financial market volatility has increased, and the vulnerability of some emerging market and developing economies to such disruption has risen. Trade protectionist sentiment has also mounted, while policy uncertainty and geopolitical risks remain elevated.

NEW World Bank report says global growth to slow to 3% in 2019 from 3.1% in 2018, as slack dissipates, major central banks normalize policy, trade and investment moderate.

 


 

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Economic Trends|News section pursuing a compilation of the main economic indicators|

 

Expect change

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“Business flows is in the opposite direction and often between developing countries.”

One indication of this the number of companies from the emerging nations appears in the Fortune 500 list of the world’s biggest companies.

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

The transnationality index gives the measure of an MNE’s involvement abroad by looking at three ratios foreign asset/total assets, foreign sales/total sales and foreign employment.

As such it captures the importance of foreign activities in its overall activities. These multinationals are huge organisations and their market value often exceed the GNP of many of the countries in which they operate.

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

The growth in MNE’s is due to relaxation od exchange controls , making it easier to move money between countries, and the improvements in communication, which makes it possible to run a world-wide business from one country.


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There is an old-fashioned word for the body of skills. Character, writes Amitai Etzioni, the George Washington University, social theorist, is the

Psychological muscle that moral conduct requires.”

The bedrock of character is self-discipline, the virtuous life, since Aristotel have observed, is based on self-control. A related keystone of character is being able to motivate and guide ourselves, whether in doing homework, finishing a job, or getting up in the morning. As we have seen the ability to channel one’s urges to act is a basic emotional skill, one that in a former day was called will.

We need to be in control of ourselves – our appetites, our passions to do right by others”,

notes Tomas Lickona, writing about character education.

It takes will to keep emotion under the control of reason.”

Being able to put aside one’s self-centered focus and impulses has social benefits, opens the way to empathy, to real listening. to another person’s perspective. Empathy as we have seen, leads to caring, altruism and compassion.

Seeing things from another’s perspective breaks down biases stereotypes, and so breads tolerance and acceptance of differences.

These capacities are ever more called on in our increasingly pluralistic society, allowing people to live together in mutual respect and creating the possibility of productive public discourse. Theses are basic arts of democracy.


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Global Goals

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A solution in the world map for manufacturing, a solution that really focuses on you enabling to pull information, wide information that you need now in a mobilised way, a solution to an eco system, to build applications quickly.

A great example is Honeywell, that is build out of a portal for their partners. As result they tighten their relationships with their partners, they have increased the subscriptions of their customers and now they are able to use that information to create valuable services.


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NEWS & OVERVIEW DISCUSSIONS

Brain-imaging technology

Linked Artificial Intelligence

Each new day’s news comes to us rife with such reports of the disintegration of civility and safety, on onslaught of mean-spirited impulse running amok. Has seen a unparalled burst of scientific studies of emotion, the glimpses of the brain of work, made possible by innovative methods.

 

They have made visible for the first time in human history what has always been a source of deep mystery: exactly how this intricate mass of cells operates while we think and feel, imagine and dream.

This flood of neurobiological data lets us understand more clearly than ever how the brain’s centers for emotion move us to rage or to tears, and how more ancient parts of the brain, which stir us, are channeled for better or worse.

 

This unprecedented clarity on the working of emotions and their failings brings into focus some fresh remedies from our collective emotional crisis. Now science is finally able to speak to these urgent perplexing questions of the psyche at its most irrational, to map with some precision at the human heart.


 

 

 

 

Infinite Map

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The dividend policy

A company will have a direct impact on the amount of retained earning available for investment. A company which consistently pays out a high proportion of distributable profits as dividends will not have much by way of retained earnings and so is likely to use a higher proportion of external finance when funding investment projects.

“Corporations with more diverse boards of directors are less prone to take risks and more likely to pay dividends to stockholders than firms whose boards are more homogenous.”

Firms need to take risks to run business. However, excessive risk taking may endanger their survival. Therefore, investors and regulators have broadened the board’s role to include corporate risk oversight, especially since the wake of the financial crisis in the late 2000s.

Most research on board diversity has focused only on gender diversity.
We used a broader-than-normal definition of diversity, encompassing gender, race, age, experience, tenure and expertise.

We looked at company records and employed five variables to measure risk: capital expenditures, research and development expenses, acquisition spending, the volatility of stock returns and the volatility of accounting returns.
The first three variables are direct measures of corporate risk as firms can adjust risk by directly altering their investment policies and spending. The last two variables measure corporate risk taking using the volatility of firms’ market and accounting performances.

“Firms with more diverse boards spend less on capital expenditure, R&D and acquisitions, and exhibit lower volatilities of stock returns than those with less diverse boards.”

Additional analysis showed that companies with more diverse boards were more likely to pay dividends and to pay a greater amount of dividend per share than corporations with less diverse boards. In general, risk-averse firms are more likely to avoid investment projects with uncertain outcomes and return cash to shareholders in the form of dividends.
Having this insight can help avoid costly cultural mistakes at both large corporations and small businesses. Studies showes that most corporate boards are relatively homogenous in gender and race – being mostly white and male. There was, however, considerably more diversity when we factored in characteristics such as age, experience, tenure and expertise.

Measuring diversity based only on gender misrepresents the actual diversity in corporate boardrooms.
On the one hand, diverse boards could reduce the level of corporate risk taking, discouraging innovative and risky projects.

On the other hand, if firm management is overly aggressive in its use of corporate funds for investing in risky projects, our results suggest that more diverse boards could perform better oversight of corporate risk taking than less diverse boards.
Rini Laksmana, associate professor of accounting at Kent State University, and Agus Harjoto, associate professor of finance at Pepperdine University, collaborated on the research for the project reviews.


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