On a traditional and maybe not so even playing field, small businesses are not capable of competing with larger, more established industrial players. They do not possess the resources to take the same kind of large-scale actions – bulk purchases, to give a simple example. This is why they are on the losing end of any competition that requires scaling, such as a price war.
Amazon.com is a good example. Look at the way that they manage to undercut traditional bookstores. This is due to their ability to survive on thinner profit margins and optimize their activities, from their shipping processes to the ways that they hold stock at their warehouses, economy of scale as such.
However, if we think back to the beginning, Amazon started small (more specifically, one-man-in-his-garage small), which is pretty small by anyone's standards. How do such companies manage to grow, and how can the small … Read More
How a corporation responds to a potential crisis involving allegations of an ethical lapse on the part of a senior executive has the potential to shape its corporate image long after the initial event is over. As Toyota and the Subway corporation are currently discovering, despite all best corporate governance efforts, including expertly crafted corporate compliance programs and codes of conduct, no corporation is immune from the damage that can be sustained from the alleged ethical lapse or misconduct on the part of a senior executive or corporate spokesperson. Mitigation efforts can be especially challenging when the senior executive’s alleged unethical or illegal conduct is unrelated to the corporation’s operations.
A comprehensive understanding of the underlying relevant facts is critical to the corporation’s decision making process. As well as a proactive and focused mitigation protocol that provides the corporation with the ability to demonstrate a good faith response to the … Read More
In an expanding global and diverse economy, where a mix of races and culture exists – how well we lead and create opportunities amongst diverse communities’ results in how well the community thrives. Leadership is the process in which one person influences others to accomplish an objective and directs the organization to accomplish a common task. It is one of the most relevant and important aspects of the organizational context. A leader must be trustworthy and should be able to communicate a vision – “where the company needs to go”.
With globalization the world is growing closer and more and more companies are employing people of every nationality, age and race. With diversity in the workforce there not only has to be a change in our leadership style but also in our approach towards both internal and external customers.
In case of external customers – Multicultural marketing helps businesses plan … Read More
Today, business lead generation is an integral part of any company. From small to medium scale companies, even to large business corporations, generating leads assures them of a profitable output in sales by the end of the campaign. Businesses that have initiated this type of marketing strategy can expect a satisfying annual report for their ROI.
There is not a company in this world that does not want their business to grow in terms of their finances among other categories. Hence, b2b lead generation can put their business on the map.
Nonetheless, there are many business sectors that may need a boost with regards to generating leads. Let us take a look at some of them.
Information technology – Leads for this sector are harder to generate for the IT products and services are highly intricate and are mostly targeted for high-end customers. IT companies have to face the everyday … Read More
Do you understand what behaving ethically entails? According to Michael Josephson, there are four principles of ethical behavior: honesty, integrity, fairness, and concern for others. You can think of these four basic principles as the legs of an imaginary stool. One missing leg will create a wobbly stool, but two missing legs makes the stool collapse. If you aren’t fair or caring, your pride in being honest and having integrity means nothing.
Ethical Behavior in Business
As of late, ethical business behavior has been a number one topic of concern. Reviewing the events of the last year, it would appear that the words “business” and “ethics” are conflicting terms. Whether you look to Wall Street, mortgage companies like Fannie Mae and Freddie Mac, or private companies like AIG, never mind all of the mortgage companies being investigated for questionable business practices, the news is depressing. It appears that the 1980’s … Read More