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HeraldNet.com - Costco growing as a supplier for small businesses

HeraldNet.com - Costco growing as a supplier for small businesses | Management | Scoop.it
When Bret Hartman opened his Shell gas station in Raymond in 2001, he decided to stock the convenience store with products from the Costco Business...
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This article is about a local business owner named Bret Hartman who conducted business with a Costco Business Center for stocking his convienence store. The supplier of Costco was capable of getting him the products he needed at lower prices so  he can in turn make more profits on his store's sales. This is an example of a medium between buyer power and supplier power, Costco did not control the supply market but they did offer supplies at lower prices which gave them a higher supplier power and it was a no-brainer for Bret to buy their products at these lower prices then competitors. Brett did still have have a moderate buying power in the market but the most economical solution is to conduct business with Costco.

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Why You Need a Mission Statement | TIME.com

Why You Need a Mission Statement | TIME.com | Management | Scoop.it
Mission statements may seem overused and unimportant in the scheme of things, but a well-crafted one can help you focus your business.
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This article talks about the importance of a mission statement in business. In our current world mission statements seem to be wordy and unimportant but an effective mission statements is nothing to look past. To create a great mission statement you have to represent who you are and how you seperate yourselves from the competitors. Mission statements need to be short, direct, and not use words that are unnecessary. A strong mission statement can lead the foregrounds to a great business.

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Emotional breakdown

Emotional breakdown | Management | Scoop.it
SPOTTING a good manager is hard. Some firms think psychometric tests help. An industry has appeared to supply them. No one knows how big it is, but the vendors of...
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This article talks about the rising market for personality test vendors in our economy. Firms claim that the tests are cheap per candidate and the help to narrow down results for choosing candidates much quicker. The article goes on to argue that the traits that businesses look for in their candidates are very hard to measure. Although vendors that design the tests disagree and say that the tests do the job in finding the best leadership qualities. In the end of the article it states that tests ultimately are easy to game and it comes down to choosing the candidates who knew what right answers to put on the tests. 

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Business Leaders Beware: Ethical Drift Makes Standards Slip

Business Leaders Beware: Ethical Drift Makes Standards Slip | Management | Scoop.it
Business ethics have certainly been in the spotlight over the last couple of years - with scandals involving Libor-fixing, failing to prevent money laundering, and breaking the rules around defaulted mortgages to name a few.
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This article talks about how businesses in our economy have lowered their moral standards over the years in the competition for profits. This idea is called ethical drift and it is causing  our ethical reasonings to become disoreinted. The article then goes into the solutions toward ethical drift that we could put into place and this isn't just setting up a bunch of rules, instead provides backgrounds on how to solve ethical dilemmas.

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Why Facebook, The ‘Best Company’ To Work For, Doesn’t Need A Union | TechCrunch

Why Facebook, The ‘Best Company’ To Work For, Doesn’t Need A Union | TechCrunch | Management | Scoop.it
Facebook employees don't have strong union protections, but they seem to love their company nonetheless. "[Facebook] is an amazing place. The new HQ is gorgeous and huge.
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This article talks about how Facebook doesn't need a union based on management styles. Facebook is one of the best companies to work for because it motivates its employees to pursue interests with a more free aproach. The downsides of this can be a lot of different things going on at once and it can be hard to focus on the task at hand. Although Facebook many employees agree Facebook's management is a bonus to it's workers. 

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Better Leadership Through Social Media

Better Leadership Through  Social Media | Management | Scoop.it
Executives should look at specific social media as a personal toolbox for improving their practice of leadership.
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Best Buy Made One Important Change That Is Saving Its Business

Best Buy Made One Important Change That Is Saving Its Business | Management | Scoop.it
Best Buy's space optimization strategy.
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This article talks about the new strategy that Best Buy has employed that has saved its business and helped compete with it's competitors. Best Buy has taken a turn toward space optimization puting Samsung shops or Windows stores inside there stores where they would normally display bulky outdated merchandise. These small business are much more profitable for the company and in turn has increased Best Buy's profits substantially.

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LOFTON — Reading literature boosts empathy and emotional intelligence - Mississippi Business Journal

LOFTON — Reading literature boosts empathy and emotional intelligence - Mississippi Business Journal | Management | Scoop.it
Would you believe that reading can actually make you better at perceiving the emotional states of those around you?
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   In this article it takes about a study that has found a link between raising empathy and emotion intelligence from reading literary fiction. The study states that those who read more literary fiction scored better on tests that measured empathy and emotional intelligence. The link was found between those who read literary fiction opposed to opposed to other types of fiction and non-fiction. The link was explained by readers having to draw conclusions and make efforts to crictically think about characters in literary fiction readings. 

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Do Apps Promoting Ethical Behavior Undermine Our Sense of Right and Wrong?

Do Apps Promoting Ethical Behavior Undermine Our Sense of Right and Wrong? | Management | Scoop.it
As if we didn’t already have enough reasons to distrust Wall Street, a new study finds that a troubling number of financial services professionals would rather bury a moral compass than use one.
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This article talks about how the use of apps have influenced our everyday ethical decision making. We in the past have looked deep withing for moral reasoning but now the digital age has given us much more influence in how we make our decisions. Apps guide or behavior and motive us but one can argue that the use of apps has influenced people on what is right or wrong, or how to act.  

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How Emotional Literacy Can Make You A Better Leader

How Emotional Literacy Can Make You A Better Leader | Management | Scoop.it
While we all know some of the greatest names in innovation didn’t earn so much as a bachelor’s degree, there’s little question that education—not just what you’re taught, but how to apply and even question what you’ve learned—has everything to do...
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This article explains how emotional intelligence is the missing piece in education. Our society believe that success has a lot to do with someones intelligence but we often overlook emotional literacy. Emotional literacy is being aware of your thoughts and emotions of yourself and being able to control your emotions and responses to situations. This doesn't only apply to the self but involves the emotions of others around you and how you interact with them.

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Making Better Decisions—Bees Do It

Making Better Decisions—Bees Do It | Management | Scoop.it
Decision making should be viewed as a critical skill every CEO and senior manager needs
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Our mission is to prepare next generation of leaders: Sally Blount

Our mission is to prepare next generation of leaders: Sally Blount | Management | Scoop.it
Blount speaks about the need to reinvent business education, her school’s India focus, and the importance of technology in education
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