Margaret Reynolds This article could focus solely on the changes caused by this trend towards smart devices and wearables. They will be everywhere and impact everything. When you think of wearables, include the concept of virtual reality. Since I used to work at Hallmark I always think about how to reinvent greeting cards (I know, email already …
The numbers are staggering. Baby boomers are expected to transition 12 million businesses with over $10 trillion in assets over the next decade. If you are one of them, bear in mind that with the market flood of businesses available only the top performers will command the best valuations. If your retirement plan is dependent …
Amazon may be the next ruler of the world! Seriously, they are now larger than all the major publicly traded department stores in the United States. According to Visual Capitalist (VisualCapitalist_Amazon) Amazon’s market value as of December 30, 2016 is $355.6Billion which is larger than the collective value of Walmart, Target, Best Buy, Macy’s, Kohl’s, …
Culture is a system of beliefs and values by which people interpret experiences and determine how to behave, individually and in groups. Culture makes things happen! An environment that is great at making things happen is a productive one and goes a long way toward success. I believe that is the reason behind Drucker’s quote. Strategy is inert; it is an idea or a vision. In itself, it has no power. But what strategy does is focus the action. It is an overarching concept that integrates the business and enables it to achieve its objectives. Without strategy there is a lot of trial and error and even conflicting agendas that set organizations back in time and money. So culture without strategy is chaos. Strategy without culture is hopeful thinking. Bottom line: You need both.
Certainly the challenges of 2009 have not been rivaled throughout modern history, and not only did they end the run for many businesses but significantly reshaped those left standing. That said, it was not entirely unexpected—the economy has cycles. And we are experiencing another one right now, although it is an upswing. Are we due for a correction? And if we are, are you ready? Every business that experienced the challenges of economic cycles will surely be prepared for the next cycle, right? The only question is when it will come, not if.
AVENUE BANK Interview with Ron Samuels, Chairman and CEO of Avenue Bank Recently, I shared a survey with you that indicated that SME leaders had dramatically increased their optimism about the US economy post-election, from 38% to 68% in one quarter. That is the kind of jump rarely seen. Clients are reporting that within 30 days …
Your organization is not functioning in isolation. It functions within an economy, industry, and geographical area that influence the opportunities and challenges it faces. To maximize the value of your strategic plan, it is essential to be able to diagnose accurately the cause behind the symptoms of any hardship. Thus, it requires a macro or “big picture” perspective of the market served, as well as a closer inspection of the microfactors unique to the business or niche within which it operates.
In-depth market knowledge provides value in three important ways.
Almost every CEO wants to growth their business. After all, performance improvement is usually how CEO’s get evaluated. The question is, what solution do they use to accomplish it? Solution Option 1: Do it Myself Without question this is the most commonly deployed method for pursuing company growth. Unfortunately, it is the least successful. Statistics …
Employee Engagement is a hot topic in business lately. That can be attributed to our recognition that for our businesses to thrive we need smart, active employees who deploy their considerable brain power making the company better day in and day out. It may be the best competitive advantage we have. The one thing others …
Recent studies suggest business leader’s optimism is returning to pre-recession levels. The first survey, fielded by The Business Journals the day after the Presidential election, projected level of confidence in business success at 82%. A second survey by the American Institute of CPAs’ (AICPA) found that 62 percent of chief executive officers, chief financial officers, controllers …
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