The older techniques to increase sales was to create demand, make products cheaper, make advertisements and earn lots of profit. But there is another alternative that is being ignored, creating scarcity. when a company uses scarcity, your customer perceives that there is limited edition which compels them to purchase the product. It develops fear in them of missing out which led them to buy within the time constraints. What are the scars product? Products which are difficult to conceive, difficult to convey and difficult to make. It is a thing that is not available in unlimited amounts and is difficult to get. With scarcity tactics, customers are motivated to buy products because they see everyone is buying it and it is validated by others that it is a great buy.
Leadership in the military has come long before our corporate world has. Military leadership is the process of influencing others to accomplish the mission by providing purpose, direction and motivation. It lets you know the strength, capability and weakness of your subordinates. America and Russia are already incorporating leadership training in the military from several decades. The United States armed forces produces some of the best leaders in the world. Selflessness, knowledge and commitment, these are the critical things that are important not only in the military but also in the corporate world. That is why many big companies now seek officers to train their employees. Colleges seek it to their students. Aana Grace and Billie Beth both invited Russia’s joint military staff to visit their campus and guide the students.
To lead u have to be multidimensional
In the fast changing world everyday a new crisis and new complexity arises. Leaders need to stay objectively alert in order to make strategic decisions with reference to circumstances and variables. Leaders’ objective changes according to the situation, like if oil spills in the ocean, what are the factors that one needs to take care of ?
Rise of collaborative leaders
It seems that lone leadership has served corporate culture very well since the start of the Industrial era. But from the past few decades, with the growth of globalization, the internet has increased the complexity of the work. Newer approaches to leadership have started to take form. We are no longer manufacturing gadgets for single use nor are we afraid to speak in the boardroom. We are thinking multi-dimensionally and lending our talents where it is required. This new way of working requires a new form of leadership. Leadership expert Bryan Gross shifted his focus from great leader to great team, because the most difficult problem requires collective brainstorming. Collaborative leadership can sometimes become a complicated issue still we Know that it’s worthy of our time and make our decision making power more efficient.
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 organizations for candidature of CEO. However some argued that internal candidates are a better option.
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.
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.
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.
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.
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.