Tag Archive: finance


Decisive Entrepreneur

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An overview on one aspect that captures almost all the economic activities include a representation to a change. This clue distinctions of when and where supports all those interested wantings for the future development and innovation, in the activity of the products and the services desired for the necesary market.

You never know where you are going to find a good idea.

That may sound like a saying from a fortune cookie. But for Normal CEO, and founder, Nikki Kaufman, it’s a management style.

It’s also why the headquarters of her 3-D printed custom earphone company are open and transparent across departments. It’s a guiding principle on how to run a team.

I encourage new ideas all the time here at Normal. That’s one of the things that I really like about having everyone in one office.
She included this advices from the floor of her New York City retail location, which also serves as the company’s factory and corporate office along with an incredible pursuatiation for advocating content into the shared markets .
An idea can come from anywhere.”



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Corporate trajectory

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The business landscape will look dramatically different in coming decades

 

A culture change dialogs across geography, across business units and also across functions. By embracing people’s differences, we can spark innovation, better understand and serve our customers and gain competitive advantage.

Driving a successful diversity strategy begins with the senior leaders, but to be fully sustainable it needs to be lived by every one of us. If that seems challenging, think about this: many leading researchers and social scientists have proven a link between diversity and productivity. In the United States, management researchers found that when people work directly with someone with at least one diverse trait, it challenges them to prepare more and work harder. By embracing diversity in your business today, you can adopt an intrapreneurial mindset and sustainable skills that will help you succeed. Here’s how you can start:

 

Learn to think like an intrapreneur

Intrapreneurship, or disrupting internal processes or cultural norms, is at its heart about innovation. One group of innovators in particular figured out how to advance their industry through the way they approach challenges – these are open-source software engineers, and they use design thinking. It’s a good example of what intrepreneurship can be: pick a diverse team with a range of experiences and perspectives; make your mistakes early and be open about them.

Without the diverse and constant input, these engineers would be less successful in the way they solve challenges. When faced with a difficult task or situation, seek out advice from new and diverse sources, most likely you will find an improved approach.

 

Discover new places to network

As collaboration with diverse individuals provides new points of view, networking accomplishes this on a larger scale. By going to events for closely related professions, or simply connecting through social media channels such as Twitter or LinkedIn where you can virtually engage in conversations with anyone, you put yourself in a position for growth.

Inside your organization you can join or organize a powerful employee network with a diverse set of peers. While interacting with your network, look for, accept and appreciate differences. Friction leads to heat, and our heat makes the atoms move faster!

 

Focus on the strengths everybody brings to the table

We are brought up in the Western World to focus on what doesn’t work or what is different. Challenge yourself to appreciate the differences of others and see them as potential drivers of change. The more opinions, the more variety, and the more diversity we bring to the table the more we can unchain our creativity, which is hidden in every one of us.

People with different communication abilities, for instance, can be diverse. Autistic people are known for thriving in repetitive tasks, which is an especially valuable skill set in today’s data-driven work environments. These skills help uncover insights into customer behavior and business trends, and can lead to discoveries that alter how a company operates. In the future of work, diversity will not be an option, but an imperative to sustain in our global, fast paced economy, where never just one person owns and knows the truth.

 

Stand up to discrimination

Stand up if you see or experience discrimination.Raise your voice for the unheard opinion. Help others appreciate how every person has a different strength and realize that in that strength there is opportunity to grow and be more productive. For instance, if a colleague comments that a women aren’t as capable of understanding technology, remind them that CEOs Meg Whitman at HP and Marisa Mayer at Yahoo! have both outlasted their male predecessors. By being critical of someone’s weakness you miss the chance to appreciate and benefit from their strengths.

The need for new perspectives becomes especially important when we examine the future workplace. As our world gets smaller, diversity doesn’t only mean differences in gender and race, but age and geography as well. Our world has become ultra-connected – successful companies find that to harmonize these connections relates directly to how fast they innovate. The implications are key for our global workforce because innovation thrives when we are faced with the unfamiliar. Diversity is what makes business more sustainable.



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A chance to catch up on much-needed reading to refresh and recharge your standards and leadership style scoured this lists of books that helped to 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.

 


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Differentiation Strategy

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Executives of young companies are constantly questioning how to build a differentiated identity in a saturated industry. Even pioneers in uncharted territory will, before too long, need to find their voice.”
Intense competition means you’re onto something good. It also means your industry will shape you if you are not tenacious about defining yourself. There are three fundamental strategies that are instrumental in distinguishing a company from its peers:

1. Cultivate a work environment that enables you to hire exceptional people
The prospect of achieving true value-driven business hinges on your ability to recruit the best talent in the industry. “A” players want to work alongside “A” players, so there is nothing more important than building a strong nucleus of talent. Hiring hastily during an inflection point of your growth can be the kiss of death in creating a culture of excellence.
Nothing gets top-tier employees more excited than being challenged to take on outsized responsibility, yet most work environments still adhere to a stripes-earning, teeth-cutting, dues-paying mentality that stifles growth.
One of the ways you’ll be able to succeed in attracting exceptional talent is by showing that you strive to be a perfect meritocracy, unfettered by the requirements around age or experience.

2. Question everything but challenge selectively

Adhering solely to industry standards and best practices is a surefire way to camouflage a company in the market. Businesses strongly positioned for long-term success tend to believe adamantly that their industry’s best practices have yet to be discovered. There is an important distinction between questioning every industry assumption and assuming that every industry practice is flawed – it is a thin line between curiosity and arrogance. In the quest to innovate, leave no stone unturned. If the industry got it right, turn that stone back over.


3. Focus relentlessly on value
Proclaiming the need to focus on value may sound like a truism, but it is remarkably easy to forsake the path of substance. Businessman and author Ben Horowitz aptly said in order for a customer to switch to your product, it needs to be 10 times better than the product they are currently using. The only way to ensure this is by employing a laser focus on value and eliminating all distractions.
This demands not only discernment between value and distraction, but requires the discipline not to pursue the distraction. As a young company, you’ll face this challenge every day, and sometimes the choice is between less engaging tasks to create value or more interesting tasks destroying value. Making the choice to select substance over splash is critical in building a deep, unique product.


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Typology Innovation

 

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“People adopt ideas when social, personal and financial trends intersect – a confluence that may seem random but usually happens “by design” “.

– Clement Mok

Comercial Leaders

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A process that uses a sponsor, a voice to talk to, to burden to is a strategy operating a company growth and innovation, completely aligned with socialization.

Having a happy, healthy, engaged workforce goes far beyond providing free food, gym memberships and a ping-pong table. While those perks are sure to be appreciated by employees, they don’t do much in the way of motivating or retaining them.
What it really comes down to is the employee-employer relationship. New data released earlier this year by Virgin Pulse revealed exactly what employees need to love their job – and a large part of that is a good relationship with their employer. In fact, nearly 60 percent of the more than 1,000 full-time employees surveyed said 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,”

it’s time to reevaluate the employee-employer relationship.

Here is what makes for a good relationship between employers and their employees.

1. Open communication

The key to any good relationship is communication that goes both ways. Unfortunately, employees don’t feel like their bosses are really listening. A recent survey of more than 1,000 U.S. employees by 15Five showed a mere 15 percent of employees are satisfied with the quality of workplace 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. Guidance and support

A leader can’t lead without providing direction. To build a stronger relationship with employees, employers must provide them with the necessary guidance and support to achieve their work goals. Employers need to have an idea of what those goals are to do that.
Yet, the aforementioned Gallup study showed that only 12 percent of employees “strongly agree” that their manager helps them set work priorities, and only 13 percent agree that their manager helps them set performance goals.

Give employees the help they need. Meet with them regularly to discuss their goals for the quarter and set priorities. This will better align them with the goals of the company.

3. Opportunities and investments

Ideally, both parties bring something to, and get something out of, the relationship. For employers, the benefits of a good employee-employer relationship include a workforce that is highly engaged, productive and satisfied in their role within the organization. An effective and efficient workforce is good for business.

For employees, the advantages of the relationship should go beyond the paycheck and benefits package to include individualized training.
Send employees to professional development events or invite leaders within the industry to speak during a monthly lunch-and-learn. Just be sure to provide them with opportunities to grow and improve. After all, investing in employees ensures they’ll invest in the company.

4. Gratitude and appreciation

It’s in our nature to want to be praised for a job well done – a result of receiving “gold stars” during our schoolyard days, no doubt. It reassures, motivates and gives us the fuel we need to continue 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.

5. Interest in life outside of work

The employee-employer relationship should be professional, but that doesn’t mean employers shouldn’t take the time to get to know the person behind the work. Strive to treat employees as people, not just worker bees. The key is to take an interest in employees’ lives outside of work.

What are employees’ personal and professional goals? Where do they hope to be in five years? 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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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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Help Ecosystems

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Executive sponsorship

In order to change management to help the entire organisation uses marketing people alignment because timing is everything.

Corporate venture capital is picking up speed in the investment industry, as large companies start setting aside funds for external investment in fledgling companies or startups. Tech giants like Intel, Dell and AMD all have strong track records with their proprietary funds, and more companies like Microsoft and Salesforce are now entering the venture-fund game.

During the past four years more than 475 corporate venture funds have started, bringing the worldwide total to more than 1,100, according to Global Corporate Venturing. With this surge comes a lot of uncertainty.

 

How will corporate venture-capital players influence the funding ecosystem?

Entrepreneurs need to know when choosing between corporate and traditional venture-capital partnership. Large companies can be slow moving and bulky, making it tricky to come up with innovative products or services. That’s especially true for the pharmaceutical, technology and telecommunications industries where internal R&D usually means more hiring, higher capital expenditures and increased fixed operating costs, all without the guarantee of a return.

A corporate venture fund, however, provides an opportunity for innovation without paying high R&D costs or incurring too much risk. Corporate venture capital also lets large companies operate on a smaller scale, which lets them innovate faster, conduct research on disruptive technologies and pre-empt competitors. And it’s an efficient way for companies to explore potential acquisition targets.

Data from Crunchbase shows that about one-third of corporate venture-backed startups have been acquired, versus 10 percent of startups with funding only from private venture capital.

Corporations can use their venture arms to influence their industry’s ecosystem by identifying new markets and building up their existing businesses. According to a recent Volans report,

“Corporate venture capital accounted for 1,068 investment deals worth $19.6 billion last year.”

Since 5,753 venture-capital transactions worth $48.5 billion occurred in 2013, corporate ventures comprised nearly 20 percent of all deals and 40 percent of transaction value worldwide.

A traditional venture-capital firm raises money primarily from institutional investors and high-net-worth individuals, while corporate venture capital uses cash reserves from a parent company to fund new endeavors. This difference is significant because it means more external pressure is typically put on independent venture-capital firms to generate above-average returns.

Since corporate ventures are typically considered R&D alternatives, expenses are already built into the business structure. And separate revenue-generating businesses help offset any corporate venture-capital losses. That’s a safety net that traditional venture-capital firms don’t have. Corporate venture-capital efforts also have the advantage of involvement with startups at the early stages, when they can most benefit from access to a large, established customer base, credibility through brand association and a larger network of partner companies and advisors.

Corporate venture-capital efforts can make good co-investment partners with traditional venture capital firms because each brings different expertise to the table. Venture-capital firms have the drive and know-how to realize financial results while corporate-venture capital groups provide industry knowledge and a talent pool.

 

Given all these advantages, why isn’t a larger proportion of total deals in the venture-capital space taken up by corporate funds?

For one, independent venture-capital firms still hold a competitive advantage over their corporate counterparts due to their flexibility, speed and experience in helping companies succeed financially. Corporate venture-capital firms that benefit from high cash flows might be willing to spread out their investments over a few similar companies and take a back seat in terms of driving their growth, while a venture-capital firm is typically motivated to take a more focused and hands-on approach for its portfolio companies.

Corporations have been actively investing in venture capital since the mid-1960s, when the venture capital industry itself was just emerging. But as more corporations become involved, the emphasis on how to build the next generation of businesses could shift away from high valuations and quick exits to creating a nurturing environment for bigger and better ideas.


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Latest News & Developments in Business Strategy Practice

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The first big management idea to reach a mass audience it swept through corporate America in the early years of the 20th century and much management thinking since has been either a reaction to it or a development of it.

At the core of scientific management lie four principles:

Replace rule-of-thumb methods of doing work with ones based on scientific study of the tasks to be carried out.

Select and train individuals for specific tasks.

Give individuals clear instructions on what they have to do, then supervise them while they do it.

Divide work between managers and workers, so that the managers plan “scientifically” what is to be done, and the workers then do it.

Peter Drucker once wrote that:

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”.

The trade union movement, however, always hated it. A union officer once said:

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 is little space for Taylor’s ideas in today’s world of freewheeling teamwork. But the writings of people such as Michael Porter and Michael Hammer, with their emphasis on breaking business down into measurable (and controllable) activities, hold more than a faint echo of Taylor’s ideas.


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Entitlements

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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, 2009) 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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