• How future trends of retail impacts the small retailer


    Retailing is an old business model that goes back a few thousand years. Only in the last hundred years has there been some drastic changes. Customers today have more choice than ever before. They can buy from small to giant retailers. They can buy local or buy from the other side of the planet via ecommerce. The growth of giant retailers, shopping malls and technological advances have put a lot of pressure on the small retailer. Giant retailers make it hard for small retailer to compete. Giant retailers have become so powerful that most of consumer spending is done in a handful of large companies. These giant retailers have strong purchasing power to buy their inventory for less than the...
  • Hard versus soft power for leaders


    An example of Hard Power is the carrot and stick philosophy also known as Reward and Coercive power. Reward Power is when the leader has power to give or take away rewards. Coercive Power is when the leader has power to punish. I believe that a Theory X leader would be much more likely to use hard power as it is aligned with their belief that people do not like work and need to be motivated. I see this working only followers who respond well to rewards. It can also lead to followers who do not think for themselves and do not develop. Soft Power on the other hand is the use of persuasion and logical argument to attract followers to your ideas and goals. Types of soft power include legitim...
  • Social Media changes the way consumers interact with organizations


    Social media has changed the way people review and recommend products and organizations. It has changed the way we interact with organizations. How we get help and report issues. If used right social media can boost an organization’s reputation. An organization can post news and initiatives that promote a good image. It can increase the transparency of organization. Since social media is incredibly fast organizations also have less control of what gets out there. Organizations may have policies that do not allow employees to post to social media however employees can post about their organization using anonymous accounts to get the word out. Organization information can be leaked ...
  • Sabotage of change initiative


    A change initiative may face many possibilities of resistance, among the greatest possible resistor is sabotage. Sabotage, occurs when someone tries to make the change fail on purpose and it happens more often than you think. In any change initiative there can be many stakeholders involved. The change agent must perform a stakeholder analysis to determine all those who have a stake in the initiative and what their level of power toward the impact of the project. The change agent must be aware of the motivations of each of the stakeholders. The knowledge of each stakeholder’s interest in the project, as well as the power they can provide. The key stakeholders are those with great power an...
  • Servant leadership


    The servant leader’s first priority is to serve the organization. They put the needs of the organization and their followers before their own. They assist their followers to grow both personally and professionally. Leaders encourage trust between themselves and their followers. Unlike traditional management style which uses different types of power the servant leader shares power through collaboration. Leaders must have good vision of where the business is going. They provide goals for people to focus and this gives them a sense of purpose. Servant leadership style is my favorite leadership style. I like how it treats the follower in a homeopathic way by treating the whole person.
  • Companies need to monitor their online presence


    For the last few years, online shopping has taken off but with smart devices, local presence has become important. Google search ranks results of local higher and it is based on the location of the user. In fact, many websites and applications are asking the user to reveal their location to give a better experience. Business must be aware of their online presence. How their website appears and functions on a user’s device. Mobile technology is thriving. In developing markets, the use of mobile technology is far easier since there is no setup of the entire infrastructure. It is likely in these markets that online browsing and shopping will be done on a mobile device. Social Media s...
  • Focus group for market research


    A focus group is a research technique to collect feedback from a small group of people. It is done in a group discussion where group members respond to questions given by the researcher/group moderator. It allows for the collection of qualitative data. A survey for example is designed to get large number of responses to often closed ended questions where respondents pick from set answers. This gives numbers that can be charted and analyzed to get a representation of a larger group. Focus groups on the other hand delve deeper to expand on issues. When used for market research it allows for collecting people’s view, understanding, attitudes and behaviors of the chosen topic. The grou...
  • Consumer behaviour – decision making process


    Consumers make their decisions of what products to buy and what factors have lead them to make their decisions. In order to be successful companies must try to understand all that they can about how consumers make buying decisions. They must also know how to segment consumers into groups that are most likely to buy certain products. Culture, subculture, group associations all have varying degrees of influence on our decision making process. We pick up new behaviours and attitudes from those we associate with. One of the first groups to set our orientations is the family group. As we go through life our attitudes, beliefs and values change. Major life events can cause us to increase...
  • Empowering people to meet their higher needs


    Empowerment falls under transformational leadership. Empowerment is different from traditional management. Instead we are trying to develop people in to high level critical independent thinkers. Followers that are able to think outside of the box. They are capable of great innovation and creativity. Followers that have a sense of purpose and are aligned with the goals and values of the organization. We are trying to create new leaders. Leaders allow followers to take risks and get their hands dirty, which helps them to carve out a place in for themselves in the organization. Leaders through open communication and providing constructive feedback ensure that followers are in positions that...
  • Managing a team with performance metrics


    Managing team performance is essential to ensuring a high performing team. There are several things that a team leader must do to manage performance. A team leader must be knowledgeable about the business, industry and know the strengths and weaknesses of all team members. A team leader must make sure that their team has the right people. It starts with selecting the best talent possible. After selection of talent, it continues by monitoring the performance of individual team members, they will know who the stars are and who the bad apples are. Performance reviews with each team member must be scheduled on a regular basis. A review should allow the team member to discuss their task...