Digital media 2017
An Infographic
Source: https://www.smartinsights.com/managing-digital-marketing/marketing-innovation/state-of-digital-marketing/
Leadership vs. Management
By: Jeffrey Glen
Many people quickly assume that being a good leader means you’re a good manager and vice versa. The two concepts are actually quite distinct and understanding that distinction can help you understand what it means to be good at either or good at both.
What are the Key Characteristics of Management?
From a broad perspective, management is smaller scale and more focused on details than leadership. The leader sets the vision and the broad plan, the manager executes it and does what is needed to achieve that plan. Key characteristics of management are:
• A tactical focus on aspects of the organization’s strategy
• Executing on specific areas within their responsibilities
• Formulating and enforcing the policies of a business to achieve its goals
Read more @ … http://www.businessdictionary.com/article/1024/leadership-vs-management-d1412/
Leadership Lessons from Good and Bad Executives
By: Adam Colgate
When Netflix CEO Reed Hastings made the bold move of raising prices significantly then changing the delivery of Netflix services (which would later be scrapped), his leadership identity took a big hit. Shortly thereafter, the company lost over 800,000 customers and the stock dropped 35%. This was not a stellar leadership move.
Hastings Failure to Recognize Four Facts
Trust is Fleeting
Customer loyalty is not constant; therefore, an action that will have an adverse effect on customers’ wallets should be taken only after careful consideration as to how it will affect their perception of the company.
Raw Data Does Not Tell The Whole Story
Careful consideration doesn’t mean simply analyzing trends or examining demographic behavior. Gauge potential response by focusing on how customers feel about what will happen. Lead a focus group, distribute a survey, talk with those that will determine whether the move will be successful.
Read more @ … http://www.businessdictionary.com/article/738/leadership-lessons-from-good-and-bad-executives/
Impact of Globalization on Small Businesses
By: Leo Sun
The following is a classic story, often used by socialists to highlight the “evils of a capitalist society” – the small town grocer gets mercilessly taken out by the new Wal-Mart in town. The small town grocer may have an established customer base and friendly relations with the community, but it simply can’t match the low prices offered by Wal-Mart. Being a large national company, Wal-Mart has the sprawling global resources and is willing to sacrifice margins to take out local competitors. In the end, customer loyalty means nothing and the grocer goes bankrupt, decades of hard work decimated overnight. This is a well-known anecdote referring to the impact of globalization on small businesses. Once you start up a new business, you plunge into an ocean populated by a few smaller fish, which compete with you for food, and lots of bigger ones, eager to eat you alive. […]
Emotional Intelligence and its Impact on Leadership
By: Ryan May
Defined as the skills or ability necessary to identify, assess and control the emotions of oneself, other people or entire groups, emotional intelligence is a concept that has become widely popular in management texts and related literature for its ability to enhance and capitalize on the human potential of an organization.
Seeking to support a leader’s cognitive, emotional and physical resources, the use of emotional intelligence is a modern tool of effective management, enabling the individual to manage a wide range of employees that are often performing in a unique set of roles. In addition, emotional and personal competencies are two primary factors that are shown to be directly linked to performance within a work environment, making their identification and analysis essential for effective management as well as the increased development of the organization’s human capital.
It Pays to be ‘Likeable’
In part, emotional intelligence is a response to the problems […]
Creativity and Innovation in the Workplace
By: Ryan May
There was a time when the concept of creativity was only associated with writers, painters, musicians and similar people in artistic professions. But with the ever-increasing necessity of cultivating a unique brand personality, the need for creative thinking has transitioned from the arts into everyday business. In addition, the act of producing a product that distinguishes itself from competitors in a marketplace where differences are often hard to come by demands a high degree of creativity both in innovation and marketing.
As a result, it’s now become commonplace for companies – both large and small – to adopt policies that foster creativity and thereby promote innovation.
But what is meant by creativity? And how can it be harnessed effectively?
Defining the Creative Environment
Creativity is the mental and social process used to generate ideas, concepts and associations that lead to the exploitation of new ideas. Or to put it simply: innovation.
Read […]
Basics of the Situational Leadership Model
By: Ryan May
Created by professor and author Dr. Paul Hersey and author Ken Blanchard, the Situational Leadership Model is a theory of business leadership that promotes the benefits of combining a range of managerial styles to cater to different people within the same organization. This is opposed to the more traditional view of the executive manager who may employ the same leadership tactics across an entire organization, more than likely passing directives down through subordinates and other intermediaries.
But by employing the strategies put forth in the Situational Leadership Model, a manager would potentially have the capabilities to deal with a wide range of people and thereby create a more employee-centric and innovative organization through the level of direct contact he or she has with members at all levels. Further, the leader would be free to place more or less emphasis on a particular task as well as more or less […]
Advertising vs. Marketing
By: Jeffrey Glen
Advertising and marketing are concepts that many people consider to describe the same thing, selling a product or service to the marketplace. However, they are distinct concepts and understanding the difference is important to ensure you give due attention to each. This article will help explain the two concepts so you can clearly approach both advertising and marketing for your business.
Marketing
Marketing refers to the strategies and preparation you do to get your product or service ready to sell and identifying the target customers for your product. Marketing is a long term forward looking process whereby you determine how you’re going to package and brand your product and design it to appeal to the target market you seek to capitalize on.
Read more @ … http://www.businessdictionary.com/article/1094/advertising-vs-marketing-d1412/
10 Benefits of Social Media for Business
There was a time when social media was considered by some as a passing fad. Something that “the kids” were using that businesses could never really benefit from. Over time, the skeptics were proved wrong. There are over 3 billion internet users—and over 2 billion of them have active social media accounts. Popular social platforms have become marketing giants, offering businesses valuable data about their customers and a (mostly) free way to reach them. The jury has spoken: social media for business is no longer optional.
If you’re wondering how social media can benefit your business, look no further. We’ve outlined key points below.
1. Gain valuable customer insights
Social media generates a huge amount of data about your customers in real time. Every day there are over 500 million Tweets, 4.5 billion Likes on Facebook, and 95 million photos and videos uploaded to Instagram. Behind these staggering numbers is a wealth of […]
Risk Management in the Food Industry: Who’s Really in Charge?
March 8th, 2017
All along the food chain — from producers and processors to retailers and consumers — safety risks exist. Food is susceptible to contamination at many points in its journey. For food processing plants, this means it is necessary to establish and maintain strict, proactive practices for safe food production and handling. But, ultimately, who’s in charge of this effort? Where does responsibility for food safety risk management reside?
It’s critical to understand who’s really accountable in terms of managing your plant’s food safety risk. Is it one person or many? Is it a single department or the entire company? In this article, you’ll uncover the answers to these questions and identify opportunities to strengthen risk management within your organization and at your facility.
Identifying the Responsible Parties
The Centers for Disease Control and Prevention (CDC) estimates that roughly 48 million people suffer from a foodborne illness annually, including 128,000 who […]