3 Ways Employees With Substance Addiction Could Negatively Affect Your Business

Many employers feel that what an employee does outside of work on their hours off is none of the company’s business. However, once that employee’s behavior begins affecting the way they’re able to do their job, their actions can quickly become a big problem for their employers. Especially in the case of substance abuse, dealing with employees who regularly abuse drugs or alcohol can negatively impact a business in a big way. Continue reading “3 Ways Employees With Substance Addiction Could Negatively Affect Your Business”

Scheduled Updates – An Ergonomic Guide to Rethinking Your Office Space

Innovate or perish. Sounds dramatic, doesn’t it?

However, it may not be such a bold statement after all. Innovation is a driving force in cutting edge tech companies, and there’s no reason why all companies, large or small, shouldn’t adopt an attitude of innovation. A big part of being innovative is updating, as you need to always think about how you can change and reform your business for the better. Continue reading “Scheduled Updates – An Ergonomic Guide to Rethinking Your Office Space”

5 Important Business Processes That You Can Outsource

When running a business, it can be difficult to manage all back office and front office responsibilities with just an in-house staff. Many enterprises soon discover that there are tasks that their team just won’t be able to execute or handle well. This can be anything, from technical support and payments processing to digital marketing and product design. Continue reading “5 Important Business Processes That You Can Outsource”

Engaging in Ergonomics | 5 Pro-Productivity Tips to Revamp Your Workplace

A dwindling return on your worker’s productivity can be disheartening for management. Finding ways to motivate your employees to try harder and be more productive is difficult, and promotions aren’t available to offer every day. Continue reading “Engaging in Ergonomics | 5 Pro-Productivity Tips to Revamp Your Workplace”

Better Office Communication Increases Productivity

If, as a manager or team leader in Toronto, you haven’t considered business communication skills training for your team, you may be missing out on an opportunity to improve your department’s performance. Adult learning experts can help your team master meeting, presentation, and writing skills at the office, or a combination of the three. There are dozens of workshops available in Toronto, including courses that focus on writing and managing email, conducting and organizing meetings, and delivering persuasive presentations to clients, executives, or colleagues. Below are some of the benefits your organization will enjoy by improving its communication weaknesses. Continue reading “Better Office Communication Increases Productivity”

5 Biggest Career Milestones of Daryl Katz

There are no Hollywood films about Daryl Katz, so while we’re familiar with the stories of Bill Gates and Mark Zuckerberg many of us know little about the self-made Canadian who’s amassed a fortune of approximately $3.4 billion. These milestones are just some of this reclusive Canadian mogul’s notable achievements. Continue reading “5 Biggest Career Milestones of Daryl Katz”

How To Transform Your Home Office Into A Creative Hubspot

When people think of designing their home offices, they think about it in a mundane way. Some people just use a spare room with a desk, chair, computer, telephone, and printer. Others make the effort to find the right furniture, lighting, and ventilation.

Yet few people think about creating the right ambiance.  Continue reading “How To Transform Your Home Office Into A Creative Hubspot”

Automation is Streamlining Business

The greatest asset in any business is its people. The knowledge, heart, and skill they bring to the table are irreplaceable. Yet some people feel that our inability to substitute for those human elements is reason not to substitute for other things that a worker can do. This is misguided thinking.

The most obvious example of this is automation. When manufacturing began to create new ways to mechanize tasks on the assembly line, there was a great outcry about the jobs that would be lost. What was missed with that conclusion was that there would still be humans to build and maintain the machines and that there were always plenty of jobs that a human would have to do.

And more importantly, automation allows humans to be used where their strengths are greatest and most irreplaceable. The menial tasks in any workplace that used to require the commitment of many man-hours of labor can now be handled by automated systems that free up human workers for more skilled tasks. Continue reading “Automation is Streamlining Business”

4 Ways To Begin Improving Communication Within Your Office Today

When you think about communication as a business, speaking with customers or clients is often the first thing to come to mind. While this type of business communication is very important, without effective internal business communication, you may not have a business successful enough to even necessitate speaking to clients or customers. For this and many other reasons, taking the time to think about and strategize how to improve communication between coworkers, managers, departments and executives will can greatly improve the overall functionality of your business. Continue reading “4 Ways To Begin Improving Communication Within Your Office Today”

Digital Marketing – Theories, Strategies and Frameworks

Digital Marketing is basically promotion of brands using all forms of digital advertising mediums to reach the target segment. This now includes Radio, mobile, Internet, Television, social media marketing and other less popular forms of digital media.

While the talk of the day is internet marketing, the latter is only a subset of digital marketing. While digital marketing does involve many of the strategies involved in Internet Marketing, it extends beyond this by including other channels with which to reach people that do not require the use of the Internet. As a result of this decreased reliance on the web based media, the field of digital marketing expands to include media such as cellular media(sms/mms/phone calls), digital signage (digital banner ads and digital outdoor signboards), and other media like television and radio,  it is thus a much more comprehensive methodology to reach out and engage your target audience, and with a higher conversion rate for most product categories.

Previously seen as a stand-alone marketing strategy because of its extension on mediums which it covers, it is currently visualized more as a marketing effort that covers most, if not all, of the more traditional marketing areas such as direct marketing by providing the same method of communicating with an audience but in a manner using the development of science and technology and thus optimizing resources. The spectrum of digital marketing is now being expanded to support the “servicing” and “engagement” of customers, and thus cover not only customer acquisition but also customer retention.

So how should firms go about planning their marketing strategies for a successful digital marketing program? While there is no such common strategy which fits the requirement of all firms like a glove, there are few generic strategic and economic issues that firms need to keep in mind while designing their marketing program.

The first grid has three elements of your proposed strategy. Does your strategy match with the vision and mission of your firm? Does the strategy assembling platform match with the knowledge that is within your marketing team? Is that knowledge formally managed using any platform? Then comes the question of how you are delivering the value transfer from the production of value, to the assembly of value to the end value consumption in a value chain. Is your firm geared to take charge of such a business model?

As in the second half of the architecture, the business model dimensions need to be evaluated based on the digital marketing capabilities. Most important dimension for serious consideration is whether your organization structure is geared to handle the marketing methodologies you are planning to implement.  The dynamics of knowledge distribution also needs to be looked into based on this framework.

7-S-Digital-Marketing

Hope this helps your company to chalk out a successful digital marketing program. Do let us know what you think of the article, with your valuable comments.

Have you read our article on the 4 P’s on Social Marketing?

Also did you read our article on the The 4 P’s of Marketing – The Marketing Mix strategies?

These articles are highly popular posts in our educative blog.

Pointers for Successful and Sustainable e-Business models

While there has been so many e-business ventures, very few actually even live to see the light of profit. A major reason for this is that business never think properly in depth before going online. There are so many aspects that the CEO needs to give time to think before going online, and not do it just because its the way others are going. Few such questions are as follows:

  • First and foremost, the top management needs to deliberate on the nature of the business and the industry. What are the core competencies of the business. Will that be enhanced by going online?
  • What about the navigational structure and the way the organization functions? Will the culture embrace such a change effectively? What are the chances of talent loss to competing firms due to the cultural changes and process changes?
  • How would the existing customers react to the change? Is there a customer retention plan in place? Will the move help to reach out to new potential customers?
  • Is the business geared with the proper technological architecture? Have the processes been remodeled to fulfill service demand?

Do keep in mind that the technological architecture has to be designed keeping the service planned, in mind. The architecture preferably needs to be custom fit with your business process. If you are doing the reverse, i.e. fitting your processes to the architecture, do try to weigh out the pros and cons of the switch of the business model to the new business model. Then the above questions become relevant even more to ensure that the company stays healthy and safe.

How to Launch a Successful Product

“A market is never saturated with a good product, but it is very quickly saturated with a bad one”.

Henry Ford never said anything wiser. But essentially what is a good product or a bad product.

Technically a product may be great, but it may not meet the requirements of its target segment. Understanding the gap which no products available in the market is fulfilling is one short yet simple strategy to create a good product, and more importantly, a successful brand.

So how should companies go about it? Consumer focused market research is the only solution. So how to go about the same?

  1. First do an exploratory study to gauge the needs which your target segment may be facing which are yet to be met with.
  2. Then do an internal analysis to match the firm competencies vis-a-vis the gap faced by the target segment, to propose few product types with hypothetical specifications.
  3. Do a in-depth interview to review if the proposed product types meet the needs of the segment, or if at all, they are needed. Many products fail because they do not address any market needs.
  4. Do a conjoint analysis and/or a factor analysis to determine specifically what is required by the target segment.
  5. Go back to verify if the same matches with the internal competencies of the firm, and do a feasibility study for the proposed project.

A humorous perspective to economics

Check out how Dr. Yoram Bauman gives a humorous insight to what economics is. He gives entertaining insights while entertaininig the audience, throughout the lecture. How difficult is that? Way to go Dr. Bauman, we love the way you present theory. Wish every class could be as entertaining also. Continue reading “A humorous perspective to economics”

Understanding mobile commerce: How can it be successful

Mobile Commerce (m-commerce) refers to any transactions conducted through a variety of mobile devices over a wireless telecommunication. M-commerce was initially expected to experience a substantial growth for  rapid proliferation of mobile device adoption and the obvious advantages of accessibility of service anywhere, anytime. Continue reading “Understanding mobile commerce: How can it be successful”