Our everyday lives are filled with social interaction, which involves face to face communication, where one speaks, and other listens. However the important mechanism involved in communication is the neural mechanism, which lets the listener copy the speaker’s mind, which results in good communication.
As social media is taking the place of traditional methods of marketing, it helps amplify companies reputation, to consistently deliver what they promise. Social media has shifted the power to consumers. It has not removed the old method of marketing rather it has improvised it. It is always a big risk to disappoint your customers in the long run and social media has paced this process. Whether it is about backlashing or amplifying a company’s reputation, social media is playing a big role. Keeping momentum with social media is difficult but so is losing grounds of marketing. The companies who have harnessed the opportunities provided by social media have kept their strong feet in the market and even they are upgrading themselves rather than writing it again.
Brenda Norris, CEO of Brascan corp, a manufacturing company in Dachigam, gets shocked after reading in the newspaper that her company lost a contract to Royal Dutch shell. Without wasting a minute she called her secretary Pedro Lee (COO) and Cole Fletcher (CFO) quickly. This was not a normal loss and she needs complete detail about the loss. With Norris as CEO, Brascan has achieved great heights in America, Europe, Asia and Australia. Key feature of their success is low cost manufacturing, even if the market is new. Brascan has procured an R & D department and brought new offers to the market. Norris has even ventured into corporate Jet.
Purpose of managers changes in every era. In the 90’s managers meant who could solve problems and provide solutions. But the question arises: for whom ? what is the purpose? By the end of the 90th century managers’ role had changed, it was now to enhance a company’s shareholder value, accomplish company’s owner goals. Arianna Huffington, Winston Churchil, Martha Stewart are big names in the management field, yet on the monetary basis they are unsatisfactory.
CEO of various companies are assiduously trying to figure out where the gap lies in performance of their company. To analyse the gap, 500 sales people were analysed during a real sales meeting. They discovered 8 types of sales performed by these salespeople, and out of these 8 types only 3 of them are effective which accounts for 37% of total salesperson and only 37% are consistently effective, rest 63% downgraded the performance. But research also finds that these 8 types of sales are formed on the basis of salespeople behavior which can be changed through training. Companies can design quality teams by recruiting better sales people if they understand these 8 sales types effectiety.
Recent health survey of Comcast employees shows a drop in the number of employees suffering from chronic disease. Employees who are diabetic and have high blood pressure, declined significantly. It seems like the company’s investment of $500 million on health care, pays off.
T-Mobile Australia stepped into deep trouble while replying to the user on twitter who asked if it stores passwords in clear format. The answer ‘yes’ caused a huge security threat. The company had to change its password as well as policy. For a big company it is a big threat. T- Mobile won’t be able to find how one customer has caused trouble but it shouldn’t be repeated again.
Usually outspoken people are considered best for being a leader. They are outgoing, make quick decisions, seem enthusiastic, have large social networks. They are preferred in jobs which require more interaction, promotion and meeting people. They are perceived to be more effective as they are excellent communicators. Even their friends and family suggest they choose jobs which are marketing or media based as they are more vocal. But several research has shown that in many cases, introverts come out as a better leader and boss to work with.
Creditors and other stakeholders of troubled companies allege that members of the companies, board of directors and senior management have engaged in problematic corporate governance practices. To solve the issue of governance in financial institutions several reforms have been made in the start of the 21st century, yet just after a few years cases of insolvency grabbed the attention. So the question arises, what might have gone wrong. Why were reforms made so effective? It might be possible that through reforms they just had added a few more laws and policies without improving the working process of boards and members of the company.
The use of social media in the last one decade has seen a huge up rise irrespective of age and gender. Social media platforms such as facebook, whatsapp, youtube twitter, they provide a great platform to interact globally. One can use social media to follow others, one who is more informative, provides more insights and more importantly similar interests. Companies are using these social platforms to build their reputation in the eyes of people and to defend themselves when required.