The labor force participation rate in the U.S. fell in August to the lowest level since 1978, a development that may reflect the lack of higher-paying jobs in the economy.
Corporate & Business Strategy Planning / Execution in the Post Industrial, Digital Economy. Want to know more? Visit me on LinkedIn: www.linkedin.com/in/karlwabst/
Curated by Karl Wabst
Many companies are again holding on tightly to their cash reserves. Is a softening in business confidence to blame?
The start of the Presidential primary season may have something to do with the perception that the sky is falling.
With Trump's current hyperbolic style, expect emotions to fluctuate, increasing uncertainty and cash hoarding.
If you still buy into the Presidential Election Cycle theory, we could see FUD (fear, uncertainty and doubt) or if you prefer VUCA (volatility, uncertainty, complexity and ambiguity), for the next two or three years. http://www.investopedia.com/terms/p/presidentialelectioncycle.asp
We need more leadership and less management to set a new direction and get people believing again.
People make strategy much harder than it needs to be. For some, the problem is that they focus too much on the tools: environmental scans, SWOT analyses, customer analyses, competitor analyses, financial modeling, and so on. Other people get into trouble because they think it’s all about the broad, conceptual, future-oriented, big picture stuff — […]
First, understand the questions and then read Playing to Win
"We are more confident than ever about the opportunity this transaction brings," Stephens said of AT&T $49 billion acquisition of DirecTV. "We are building a unique communications and entertainment company that we believe will not only transform us but transform our industry as well."
The AT&T and DIRECTV merger approval by the FCC may come just in time to help both companies as the pay TV market seems to be contracting.
For more on the current condition of the pay TV industry read:
U.S. IPTV has slowest customer growth ever, as FiOS and U-verse combine for only 4K new video subs
When negotiating, how do you drive a hard bargain without burning important bridges?
Share! Listen! The real goal may not be what you assumed before sitting down at the table. Valuable information is communicated in small talk. Just remember that it goes both ways.
Do not be a robot. People want to do business with people. They prefer people that they perceive to be like them. Without some conversation, it is hard to convey who you are and to find out what the other desires.
Capping months, if not years, of speculation about its fate, the Financial Times has been sold to a new owner in an all-cash transaction.
Since the Internet, selling a newspaper is one of the few ways to make money in that industry.
It’s tempting to look for simple definitions, but to be meaningful and sustainable, we believe that digital should be seen less as a thing and more a way of doing things. To help make this definition more concrete, we’ve broken it down into three attributes...
When making strategy it is vital to add rigor & creativity to combat vague & fuzzy concepts swirling around terms like digital or transformation. This is especially true when putting two vague & fuzzy concepts together and calling it a strategic objective.
It sounds too basic, but this is a vital first step.
Before you commit large amounts of resources, make sure you know you are all going where you think you are all going. Verify your destination first. Recall the old joke about assumptions. When you ASSUME you make an ASS of U and ME.
Only when we are harmonious can we declare our aspiration and plan how to get there.
Shares of Mattel (NASDAQ: MAT) tumbled > 3% on Friday after the toymaker reported a second quarter loss due to the continued slump in Barbie sales. The iconic toy saw sales plunge 19% from the year ago period
Mattel may need a culture change to ketch up with the tastes of its kiddie customers. However, it is not just the kids that Mattel has failed to reach of late.
Consider last Christmas' flub of Barbie's "I Can Be A Computer Programmer." This title was part of a Barbie book series whose goal is to empower girls to realize their career dreams. More on that here: http://sco.lt/52GFlp and here: http://sco.lt/6zWp7p
For more on the Frozen fumble: http://sco.lt/96A6z3
Ever tried to change anyone’s behavior at work? It can be extremely frustrating. So often the effort produces an opposite result: rupturing the relationship, diminishing job performance, or causing the person to dig in their heels. Still, some approaches clearly work better than others.
Coming soon to a cubicle near you!
Mission Impossible, the Unwanted Engagement.
Your mission: change employee behavior. Previous teams have met a dismal 70% failure rate.
Be advised. Two common tactics do not work. Be extra nice or nag them into changing. Alternatively, to increase your likelihood of success, consider these seven alternatives.
As usual, if you or a member of your team is uncovered, senior management will deny all knowledge and responsibility for your actions.
Start with a customer experience vision that outlines the intended outcome/experience. Without a vision, Yogi Berra’s famous quote will become all too familiar: If you don’t know where you are going, you’ll end up someplace else.
One major flaw I see with this view of customer experience strategy is what it does not include.
Strategy needs management systems that measure & reinforce the performance of its execution.
Yogi Berra might observe that if you don't know when you arrived at where you wanted to go, you might still end up someplace else.
Nearly 20,000 deals worth $2.2 trillion have been announced so far this year, approaching pre-financial crisis levels.
It is evident that not everyone is running scared anymore. Risk appetites are up. This may be good news.
How you feel likely depends on whether you are on the M or A side of the M&A experience.
Asking questions, and learning about your client, is one of the best ways to build client relationships, increase sales and gain client loyalty.
I started using the Mackey 66 back in the 1990's. It originally appeared in his book "Swim with the Sharks Without Being Eaten Alive: Outsell, Outmanage, Outmotivate, and Outnegotiate Your Competition."
If you are new to CRM and customer profiles look at the questionnaire.
If, like many people I speak with you think customer profiling is a new concept, check out the questionnaire and read Harvey Mackay's book.
You may be surprised at how wrong you were. The good news, there is a lot you can do to improve sales even if you do not have access to an expensive CRM package.
Make sure to take proper steps to keep the information in customer profiles confidential. Knowing your customer provides you with the ability to gain some competitive advantage. Do not just give that away.
Your customers will not appreciate you sharing the details with others they did not entrust with it.
You know those guys with the clipboards and checklists? Those annoying folks who drone on about compliance and procedure? Those sticklers who find reasons why things can’t be done? Every large institution has them.
Process nerds please pay attention. You know who you are.
Engage and empower front line workers who have to use your process. Your customers will thank you.
Get out and listen.
The most vocal critics say that HR managers focus too much on “administrivia” and lack vision and strategic insight. Five smart moves that will help.
HR is aware of the perceived lack of its contributions. Some are evangelizing change from within its own ranks.
For an HR Professional point of view, read “The Rise of HR: Wisdom from 73 Thought Leaders: Essential Reading About Our Changing Profession.”
Legaltech West 2015 panel will discuss the growing prominence of wearables, the Internet of Things and how they're likely to affect the practice of law.
While the future is bright for these technologies, the collection and use of private information is never without its legal pitfalls.
Each ending sparks a new beginning. One battle is won. What may lie ahead?
Today's SCOTUS decision on gay marriage may have unexpected consequences.
How might the decision affect unmarried couples - gay or straight?
This could be the next front in the battle of benefits for how Americans actually live today.
Active listening not only facilitates effective communication, but it also enhances rapport!
Active listening goes beyond just listening and parroting back what was said.
It is taken from a branch of psychology called Humanism. Many of us know Maslow's Hierarchy of Needs. Maslow was a humanist. Carl Rogers was another.
Humanism has a different approach than Behaviorism and Psychoanalytic schools.
If we understand more about its roots, we can use active listening as more than a technique to generate a sale.
Active listening helps you connect with the person to generate higher customer lifetime value.
Building consumer awareness, desire & knowledge about how to protect your accounts is only part of the solution.
Organizational behavior change is also necessary.
What can consumers do to promote change?
Take back the power. Do not settle for feeling like a victim. Get proactive.
Share your experience. Tell your story on social media. Name names of companies, if you can. Credit card companies often will not tell you who was responsible, even if they know.
Write your representatives and tell them you plan to vote for candidates who will demand more transparency for consumers. Get out and vote!
Do not assume it is not your problem because your credit card company limits your loss to $50.
We all pay higher fees because of credit fraud. Complacency only ensures the story will not change.
Fight for a change.
After some public back and forth over the weekend, the question now becomes if Swift's hit album will actually make it on the new Apple service.
Perhaps Apple doubted that customers have a new level of power and voice routed directly through social media. Swift and her Swiftees would not let Apple shake it off.
The new social learning combines social media tools with a shift in organizational culture—a shift that encourages ongoing knowledge transfer and connects people in ways that make learning enjoyable.
Here is your executive cheat sheet to social learning.
Companies may be targeting their recruiting resources at the wrong people, according to new research.
Are recruiters looking for love in all the wrong places? Given the uncertainty of the economy over the last decade, it is wise to know what your options are. Passive candidates may not be such a catch after all.
Leaders need to use more vivid imagery to communicate their vision for the future.
If you want to lead people into the future, show them what that future looks like, how they will feel and even how it smells.
Remember to paint them a picture. Do not rely on words.
People see, feel and then change. This is true, even if the picture is all in their minds.
You can build a map following high-quality design principles, or use smiley faces. You can make it an engaging work of art, or scribbles on a napkin. But, ultimately, what matters most is the content, and the integrity of the process used to compile it.
Help employees see their company through the eyes of current, potential and past customers.
Employees and executives can go through life and rarely speak with a customer.
Working layers deep in the corporate structure insulates and isolates us from the reactions customers have when they hear our company’s name. That is not good for careers or consumers.
Bring the voice of the customer inside so they are heard loud and clear. Remind everyone why they have a job. It's the customer, stupid!
In today’s social economy, it pays to measure your share of the customer’s heart, not just your share of their wallet.
Today, recruiting looks more like marketing than hiring. It’s about creating a brand that gives candidates a reason to pursue a career at your company. You have to sell to candidates through modern channels and messaging.
Some of the people calling themselves recruiters always amaze me.
Not a week goes by that I do not get a call from a recruiter with a very old (8 - 15 years) copy of my resume. Sadly, they think it is current.
Their company bought it from some vendor selling leads. Sad. They were ripped-off.
During our conversation, I ask if they are on LinkedIn. It is in my best interest to get them connected to places where candidates live.
Inevitably, the answer is something like "I haven't checked LinkedIn for candidates" or "I only use the company database."
Recruiters please don't let this happen to you. You have to fish where the fish are. That is, if you want to feed your family.
Industries ranging from theme parks to sports venues are amplifying the customer experience by diving deeper into data and mining insights that are timely and add value.
Now is the time to identify and invest in high potential candidates and employees that get both business and technology.
Why, you ask?
Can your company afford a technology department that does not understand the business?
Invest in employees with the potential to be more than support staff.
Your technology and the people that run it are becoming an integral part of the consumer experience.
Is Human Resources experiencing an identity crisis? As corporate America explores its values, HR departments are increasingly called upon to deploy legal
HR should be more than a legal prophylactic. The employee’s experience directly influences the customer’s experience.