Why succession management is important?
Succession management is always a sensitive matter. After all, the future of your company built over several generations is at stake. The aim of effective succession is to meet several expectations as well as to reconcile the conflicting goals that may arise. That’s why today’s corporations are more active about leadership succession. After the success of Andreas Gerber at SME business Switzerland, boards started taking names from outside organisation for candidature of CEO. However some argued that internal candidates are a better option.
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The CEO Stefan of company Binomo, was highly influenced by students’ overwhelming response to his presentation about the benefits of social media. However in just one day appraisal turned into criticism when people got to know that Stefan had no social media presence. Even he got to know about this buzz through his assistant. Chaos surfaced his mind how to handle this and at the end he left it without responding. On the other hand, CEO George, founder of Forbes uses social media actively. Till 2002, he was known to only few business stakes, today hardly any business owners who don’t know him. George’s online videos are of few minutes, still it has attracted lots of attention. Now he is an internet sensation and his organization is benefiting too. Because of social media, his global reach & his persuasive approach made his thousands of fans.
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Company room :
Melinda and Gates planned to launch its own specialised ‘Chinese Silk’ to enter the apparel industry. It has once again heated the environment of the company as people are divided over the opinion. Some want to invest in a patented technology so that fresh and new business opportunities open up. While other wants to invest in an existing market. CEO Taylor and VP of R&D Stelena are already divided over the issue of launching. If the company invests in existing technology patents will get expensive to defend and soon our company too would be in a price war with copycats. Stelena mentioned it would be tough to manage in a market where we don’t have a partner. But it is a battle one should fight. And this fight would not get restricted to the company’s walls but in new markets too, where our competitors are present and are well aware of our weaknesses. They might defeat us but what will be the cost of it? If we work efficiently and timely we can make more out of our investment. Taylor paused and stood, to leave the meeting room while confronting the fact that we can’t throw our stakeholder’s money in a flowing river just to try something new. Taylor wants Stelena to give him a more detailed report of why she thinks other ways are more opportunistic? Stelena’s character is unbiased and more deep seated.
Continue reading “How important is not to “play safe in life” ?”
Sustainability is the foundation for today’s leading companies. United nation’s member countries have already accepted the 17 SDGs. Reaching sustainable goals, companies are required to take action in every dimension – governments, businesses, civil-society and people. Almost all companies are involved in practices that move them towards economical products. If any company is ignoring this goal, they are certainly at risk of being left in the competition. This competition is not only among companies but it also involves environmentalists, socialist, researchers and your rivals. If you take the example of the automobile industry, you will see hundreds of companies are competing with each other. Whether it is about using economical elements to manufacture or meeting standards of fuel consumption and release of pollutants.
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The crash of stock markets, liquidity crisis put many businesses in a declining phase. But as Darwainian theory says ‘Survival of the fittest’ similarly ventures who turn this adversity into opportunity, will survive in the long run. During times of crisis many companies start playing safe while there are entrepreneurs like Taylor who see crisis as a ‘Not to waste opportunity’. However, crisis require us to think in several directions before presenting any solutions like infrastructure, monetary, demand, policies, politics and business processes.
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Symbiotic relationship between value chain and job option
There exists a complementary relationship between creating value and providing jobs. Company generates value when it uses its resources to offer something valuable to its customers. When business expands, work load increases which provides opportunity to skilled and semiskilled workers.
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Computer science no longer deals with only computers and its application. In recent times it has become a vast topic which includes a variety of subjects from astronomy to medical, from machine to management, everything is related to computer application. What is common among all these fields and how are they related to computer science? Answer is data. The big data that every subject has and can be analysed for the benefits of mankind using computer based technology. Our computer scientists are working closely with scientists of other branches to harness data and give breakthrough results in this field.
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Branding is a business essential as it extends visibility and outreach. The audience is more likely to remember your business in a crowded market if you present it as a unique brand. It is only possible by investing in a branding plan, which gets a tad more challenging for small businesses due to the expenses and efforts involved. However, you can manage much yourself when it comes to branding with imagery. Everything boils down to taking great pictures and editing them to make them share-worthy. Having a good device such as an iPhone or iPad gives you a good start as it enables you to click quality shots. Here are some more tips you can follow to master the skill.
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Emerging markets are nations with social and business activity in the process of rapid growth and industrialisation. Well, imagine you have prepared a detailed plan for your products for these emerging markets but do you know how customers will respond to it? And if you are not ready with these questions, you are at loss to your competitors.
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We human beings have different qualities and this is what makes us different from each other. Some are very good in academies while some are good in sports. So a child who is good at sports will not be able to study. They can but with proper planning. There’s boy Harry despite so many efforts from parents and teachers he flanked in eighth grade several times what could be the reason? To find the solution, one needs to begin with Harry’s likes and dislikes. What he is good at and in what he finds energy to do something. Doctor advised his parents to change his classroom or teacher with whom he is not comfortable with. Also motivate him in a positive way like ‘I can see potential in you’. With all these efforts he started improving and positive feedback starts coming.
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