Empowerment is defined as, “the process that provides greater autonomy to employees through the sharing of relevant information in the provision of control over factors affecting job performance.” Empowerment helps remove the conditions that cause powerlessness while enhancing employee feelings of self efficacy. It also authorizes employees to cope with situations and enables them to … Continue reading The Process Of Empowerment
The advantages of seizing the intiative are well documented throughout military history, as well as in countless buisness success stories. But how can you ensure that your organization gains, and keeps, the initiaitive? These are five effective steps to do this: Analyze the situation carefully Seek hidden opportunities and new solutions Act Now Act boldly … Continue reading How To Gain And Keep The Initiative
Oftentimes, changing business strategy around a fixed corporate culture is one of the hardest things a strategist has to do. The following is a list of ten elements that are most useful in linking culture to strategy: Formal statements of organizational philosophy, charters, creeds, mission and vision statements Designing physical spaces, facades, and buildings to … Continue reading 10 Ways To Link Culture And Strategy
Web 2.0 has brought about interesting changes in business strategy. Initially, the generally accepted framework for business strategy, Porter’s Five Rules, applied across the board, no matter the sector or industry. Today, Porter’s rules are under fire. WinMarket has a great post (although it is an ‘alpha’ version) about the differences between traditional business framework … Continue reading Porter’s Five Forces Are Dead
“The problem is we get so caught up in the nitty gritty of implementation that we forget why we are here in the first place …. ‘Why’ is just as important as the ‘How’; they are not mutually exclusive.”
When Howard Schultz became the President and CEO of the Starbucks Corporation in 1987 the company was selling basically whole-bean coffees, and it counted dozens of stores across the United States. Less than 20 years later Starbucks is one of the most popular brands in America. It has more than 12,000 stores around the world, … Continue reading Why Starbucks is not present in Italy?
Despite those (supposed) qualities, however, some recent studies are starting to show that the practice of using formal business plans as a corner stone of business ventures is not as widely spread as the theory suggests. Caddell mentions, for instance, a recent study that appeared on the Inc Magazine, outlining the following statistics…
Most organizations identify their customers as one single entity. If a certain company is producing miniatures of racing cars its customer is going to be boys aged between 3 and 12 years right? Well, it is right, but only to a certain extent. Those young boys are certainly the “users” of the product, but they are not the only people involved in the buying process. Apart from the “users” you will also have the “purchasers”, who in this case will probably be the parents and the “influencers” who could be the close friends or family.
Since the beginning of the business administration science its theories were entangled with war analogies. One of the most mentioned books of the past decades, in fact, was The Art of War, written more than 2000 years ago by the Chinese general Sun Tzu.
– Women get to decide 83% of all consumer purchases
– Women write 80% of all checks and pay 61% of all bills