Productivity has often been cited as a key factor in industrial performance and actions to increase it are said to improve profitability and the wage earning capacity of employees. But the mode we are choosing to perform our job is not working anymore. Productivity paradox refers to slowdown in productivity in the US in 1970s and 1980s despite rapid development in information technology. A 2010 survey at St. Petersburg, of approx 50000 employees, found that only 19% felt fully motivated at work and approx 53% field is disconnected. And this has a negative implication of productivity. Company with a high number of employees engagement shows 30% higher productivity than those with less motivated employees.Continue reading “Pace of Change: Productivity Paradox”
During the season end sale, the company offers gift cards to their customers who make any purchase from its shops and play simple quizzes. Customer who didn’t make the first attempt was ready to pay 53% more to win a card from the customer who had not. However only 20% of customers failed to keep the card instead of selling it. Customers who were not denied to play, 60% of customers kept willing to keep it. This study shows more you obstruct customers from having access in something there is a high chance that they will not keep it later.Continue reading “Desperation is good, but not always in business”
Ever thought why CEOs are so much concerned about the stock market and its value. It is because they are evaluated and judged on the basis of stock price. CEO’s pay scale and their compensation plan depends on their five years successful strategy. It has been assumed that incentives alone in the form of money motivates than. They can even get motivated through recognition and praise. Then why are they judged on the basis of stock value? CEOs have enough money they need. CEO’s are more concerned about stock value because this is how we measure them.Continue reading “How Would You Measure Success?”
On the road to success there is absolutely no room for criticism of self or others. Finding faults in others wastes time as we attempt to remove potholes from other people’s path. Being a kid of a medical family it is a dream to work with high profile people in multinational companies. Several ignominious factors like feeling less worthy of yourself, doubting yourself, desire to become, better version of yourself and focus on hard work is something worth saving for victory.Continue reading “Lead a Startup to Success”
To manage new growth, companies always look for new innovation teams. What does this innovation team do? Do they perform brainstorming? Or do they perform creative thinking the whole day? Most of the boards of directors feel the need of a separate and highly isolated team to perform high thinking skills activity. They are like a search engine of the company i.e., unit responsible for long term and sustainable growth in the company. Most of the innovation is practiced over a company’s existing resources whether it is custom, experts or manufacturing unit. So it is a highly futile concept that the innovation team works in isolation. Isolation will create only baseless use of resources and travel processes.Continue reading “Dispute Mitigation in Companies”
Johnson & Johnson servants its company to get insight about the strategy and execution plan of the company from its employees. The top 4 survey findings are:
1. The biggest challenge was to make strategy meaningful to staff.
2. Many employees are even aware of their firm’s strategy.
3. Strategy development is still mostly a top-down process.
4. People who are involved in developing the strategy are more likely to be bought in.Continue reading “How Top Level Executives Implement Strategy Execution?”
While performing any process, standard skills and resources are required. It might be possible that whatever you need, you may not get inside your firm. And this is the time when firms turn towards M&A alliance and licensing agreements. However, from the last 20 year study has shown that out of 162 multimedia companies only 49 are actively using the resources that are available, rest are relying on developing resources in house. When they were asked why they do so? Their simple answer was that they find fault in their strategy or lack skilled manpower. Instead of looking into new opportunities, blaming your strategy leaves a lot of scope to grow. According to Bloomberg limited only 26% companies forces on M&A and 36% on alliance and 12% still stick to their in-house preparation. While deciding whether to develop a new contract or going with existing internal resources one can ask 3 portions to themselves.Continue reading “Adopting the Right Methodology for Job Execution”
H Byrkjeflotin his June 2008 edition wrote that any occupation earns professionalism when it is imbibe with some ideologies like being good counsellor, performing greater deeds, and doing no harm. Jonathan Gosling further stated his point arguing that there is a misunderstanding in between management and other professions like medicines and law. According to Jonathan, management is more about integrated skills, there is no specific curriculum that needs to be adhered to. Learning management means broader experience and replicating it through several projects. Also management doesn’t have a clear code of ethics like other professions and ethics vary from country to country and even from one organisation to another.Continue reading “Leveraging the Degree of Business Management”
The key goal of starting a business is to build your brand and start growing. Regrettably, this does not occur overnight. This process requires your continuous struggle, hard work, patience, and etc. There is no shortcut to growing your business in an hour. You must work intelligently to take your business to the height of success. Also, an online fraction calculator by calculator-online.net can also let you keep your maths calculations fast enough to comprehend the profits and losses. This tool is very helpful in making you earn high earnings by maintaining a balance in your revenues.Continue reading “Marketing Strategies That Let Your Business Grow Fast”
Lisa Weington, director of Zurich cancer centre is planning to boost the institution by delivering a single centre for all the tests needed by any cancer patients so that when a patient comes with abnormal symptoms in the hospital they must leave with proper medications and treatment plan. For this she needs to indulge every department of the hospital in her plan. Although she is a director, still everyone has its own plan and she has little say in everyone’s personal project. We cannot compel anyone to perform something out of their work. In such a situation what Lisa actually needs is ‘Power’. To implement strategies she needs her positional power to pursue everyone towards single goals. “Power was my first significant focus even when I was teaching at Harvard. I let my students use tools and ideas and even enable them to bring change in their careers”.Continue reading “Significance of Being Powerful”