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Articles from The New Business World

Imagine if all your workers knew how to time manage? 2007-11-01 22:10:00 The average worker wastes at least 20% of his or her time chatting with other workers, browsing the Internet or just plain staring at the ceiling. As these workers sit idly by you could be losing value money and revenue. If you were to help these workers manage their time well you could receive much more productivity then you could otherwise. With this 20% of the time we may find that for every 5 workers we must hire 1 additional worker to cover the amount of waste left by the other five workers. If we had an organization of 100 workers we would be carrying an extra overhead of 20 additional workers. This can amount to a lot of money if we assume salary and benefits cost around $50K per year ($1 million). Getting the maximum out of your workers requires that you provide them with leadership, motivate them to act, give them the tools and teach them how to manage their time. When organizations miss one of these important components they end up getting less then the maximum in terms of pr ...

GHOST OF CHRISTMAS PAST HAUNTS INDEBTED BRITS 2007-11-01 16:06:00 As the nation approaches the final countdown to Christmas, new research rings alarm bells over the financial impact of Christmas in credit crunch Britain. The research from the new money saving website Savebuckets.com reveals that as Brits prepare for Christmas, many are still paying off last year’s festive spending.With 41 per cent of Britons paying for Christmas on credit last year, almost one in five are still paying for last year’s festivities (17%), fewer than one in three having cleared their Christmas debts when their January credit card bill arrived (29%).Following a year of consumer confidence in 2006, Christmas spending soared 52 per cent in two years (from an average £548 per adult in 2004* to £837 per adult in 2006), with over one in five Brits spending over £1,000 on Christmas last year (22%). This year, with spending power at its lowest level for 10 years**, consumers are feeling the financial hangover from a more confident Christmas enjoyed on the credit card and ...

Customer Satisfaction Strategies 2007-11-01 13:04:00 Businesses are in competition with each other to see who is able to gain and retain the most customers. Every time a new customer is brought in and adequately satisfied the company has the opportunity to accrue lots of revenue over the life of the relationship. These relationships become extremely important as markets become saturated with competing businesses.Successful businesses focus on two strategies which are solution orientated and relationship building. Each of these methods is important in building strong relationships and continuing the dependence of customers on your business. To ignore one over the other may mean lost revenue and lost customers.Solution Orientated: Businesses and people want solutions to their problems. It doesn’t matter if they are looking for software to integrate throughout their organization or they are looking for a new cell phone because these items help them solve a problem. When a company understands what their customer is really looking for they ...

Between Paychecks? 2007-11-01 12:42:00 When your car breaks down, you have a few extra bills or you need to take a trip you might find yourself between paychecks. This can be very difficult to manage because you have few to no resources for getting the money. You may have been afraid to get a pay day loan because of the cost but you can easily rectify this situation with a pay day calculator that is offered through Pay Day Loan Quotes (com). Within seconds you can receive Payday Loan Quotes so that you can assure that it is what you need.http://www.thenewbusinessworld.blogspot.com ...

The Value of Customer Service: Lessons of Loss from Sprint 2007-11-01 10:47:00 Sprint is the Nation’s third largest mobile phone company and they are currently experiencing a 77% drop in profits and customers are opting for more friendly services. Sprint recently dropped 377,000 customers due to poor reception, dropped calls and inadequate customer service. As business owners and managers there are a few lessons we can learn from Sprint. Lesson 1: “Quality in a service or product is not what you put into it. It is what you client or customer gets out of it”- Peter Drucker.Large corporations sometimes start believing that they are more important than the customer. Their processes, procedures and even their name become the standard way of doing things and customers who don’t fit within these policies are just out of luck. Sprint, as well as other businesses, should continually focus on the value within their product or service. If the customer isn’t getting as much value as they are paying for then they will likely go somewhere else. Lesson #2: “If you ...

A Flooring Company that Fights for Its Customers 2007-11-01 10:05:00 Most of the times when we purchase a product or service from our vendor they tell us to simply contact the manufacturer if you have a problem. They don’t want to deal with the hassle. Wouldn’t it be wonderful if the vendor whom you bought your product from would honor the warranties that the manufacturer doesn’t? iFLOOR is putting in place 1 million dollars worth of protection for their customers in terms of warranties are willing to take the manufacturer to court when they don’t honor their agreements.iFLOOR, America's largest online flooring retailer, today announced a $1,000,000 limited warranty designed to protect its customers from predatory manufacturer policies that exclude warranty coverage from online purchases.The policy, which goes into effect immediately, offers up to one million dollars of coverage in the event that a customer's warranty claim is denied specifically because they made their purchase online. It is complimentary for every iFLOOR customer, and protec ...

Communist and Dictator Styles of Leadership 2007-10-31 20:26:00 Communist and Dictator Styles of Leadership Leadership is not an exclusive right of Western countries alone and exists in every society on the face of the Earth. The problem is that many nations have taken their cue from pro-democratic styles of leadership such as transformational being the most important. However, any business planning on doing work in a foreign nation should consider the cultural differences when determining which style of leadership will work best for them and their host country. Companies don’t live in a vacuum and exist and breathe in the large context of their culture. This culture can have a huge influence on the way a company manifests its cognitive, affective and behavioral interpretations of leadership (Verbos, Gerard, Forshey, Harding, & Miller, 2007). Their perceptions of what a leader should believe, how they should act and the style in which they influence other people is of tantamount importance. For example, in a traditional culture or a culture that ...

Going Global While Staying Domestic 2007-10-31 15:00:00 Going global without compromising your businesses most important characteristics can be difficult and tricky but it doesn’t mean that it is impossible. There are many advantages to going global such as increased opportunities for wealth, access to additional markets and drawing on skilled labor in other parts of the world. However, this doesn’t mean that everyone desires to lose their sense of identity and methods of doing business.There is a possibility that many organizations can go global with some aspects of their business while retaining a local identity and culture on other aspects of their operations. For example, a local company could open up an e-commerce site for their local business and still retain the high wages, benefits and terms of employment that are important for local workers (Egels-Zanden, 2007).The Internet has become one of the easiest ways for companies to gain global exposure while still maintaining local operations embedded in domestic culture. Each country ...

Getting Blog Traffic 2007-10-31 14:37:00 If you have a blog you might need to Get Traffic to your Blog, Free. Free is always good for small websites that enjoy writing simply for the beauty of it. Most blogs suffer from a lack of readership and now you can get more traffic without hurting your wrists by excessive typing. Do you write a blog? Get Massive Traffic. Of course if you have a blog you will want to take advantage of all the free resources you can find. Have a Blog? Get more readers, Click Herehttp://www.thenewbusinessworld.blogspot.com ...

1-10-100 Rule of Quality 2007-10-31 09:56:00 There is a general rule that applies to companies and how they handle problems. As problems and defects are not caught in the manufacturing problem they become more expensive and more difficult to fix the later on they are realized. This is one of the reasons why it is important for companies to improve quality because it has a direct impact on overall sales and cost. American companies have been making leaps and bounds when it comes to quality. Even though companies like Ford have been bashed by a poor reputation of quality and declining market share the company has made a remarkable turn around in their level of quality with the “Quality is Job 1” slogan. Customers demand quality and this may ultimately help the company regain some of what has been lost. When manufacturing products, prevention is the most cost effective method because it is adjustments in processes, procedures and pre-manufacturing considerations. $1 represents the discounted cost of designing the strong processe ...

Fun Get Away in the Nation's Oldest City 2007-10-31 09:13:00 You love the arts because you have collected lots of antique items within your house. Perhaps you also love to travel to artistic places that offer a unique variety of fun, culture and lots of historic excitement. During the last Saturdays of October and November you can experience the awesome antique shopping opportunities available at St. Augustine events in the Nations Oldest City. You might be the type of person who loves books. On October 27th and November 24th there will be lots of local authors doing signings for their latest works. You can meet them, have a cup of coffee, chat about their thoughts and rub shoulders with the intellect of the area. There is nothing more cultural then the words of wisdom secured forever on paper. If you like what you are reading you can either buy these new collections or find something rare and unique to add to your collection. Furthermore, if you like the night life you might enjoy the music and dancing on San Marco Avenue. You can sit back with ...

Accountability and Organizational Change 2007-10-30 20:12:00 Accountability is more then a simple buzzword that should taken off of the shelf when the company starts going through hard times. When crisis befalls an organization executives often start taken on the role of the leader. Hypocrisy results when these executives fail to make themselves accountable for what they say and what they do.Leaders cannot engage in the typical politics that revolve around most organizations when they are trying to encourage followers to succeed. Leaders should have accountability with the way they treat people and how they interact with them (Dunford, 2007). Promotions, job assignments, praise and terms of employment should be dealt with based upon merit and not upon political connections. Organizations will have a difficult time making a turn around if the “good ol’ boy” network gets the advantage.Leaders must have accountability because it is builds confidence in others and this confidence will rally people to trust and strive (Leading a turnaround, 200 ...

Managing our Electronic World 2007-10-30 14:40:00 We live in an electronic world that includes just about everything from email, cell phones, digital cameras, camcorders and much more. The problem is that this digital world leaves all these little pieces of our lives scattered among all of the different tools we use to create it. VMdirect’s offers a unique program called helloWorld which creates Video Email and Digital Media Solutions. This service will put all of your electronic data into a single source and will let you create interesting masterpieces of work that you can send to friends, as a business marketing tool or just about everything else. I can see the application in the business world by sending your loyal customers video updates of your products, video invitations and much more. http://www.thenewbusinessworld.blogspot.com ...

Northwest Airline’s Strategy Lessens for Business Owners 2007-10-30 14:36:00 Northwest Airlines made a big leap a quarter after they emerged from bankruptcy protection earning $244 million in profit. The amount of money this company was able to earn when they were so far down on the airline food chain is amazing. They had a lot of problems but it seems that they have successfully used their strategy to succeed. There might be a lesson in all of this for companies and businesses. The strategies applied to Northwest Airlines and can be attributed to the Company’s success could very easily be applied to other businesses and their concept of service or product offerings. Take the following as an example:Strategy #1 (Smaller Fleet): A smaller fleet means that NWA or any other business should focus more attention on what actually makes them money. It is a matter of perspective to believe that you can’t be everything to every customer. The further you get away from your core services the more risk you take in terms of non-competitiveness and rising costs. Take for ...

Investing in Gold and Rare Coins 2007-10-30 12:30:00 Investing has become tricky in an economy that seems to bounce upwards and downwards with each day. The economy is faced by threats from foreign competition, declining wages and the shriveling value of the dollar. However, that doesn’t mean that everyone needs to go down the drain and wealthy people have begun to put their money into stable investments that have a strong record of return. There are only so much gold and rare coins in the world and we are not making anymore. Therefore gold and rare coins are likely to keep rising into the future and it makes it a perfect time to start investing. If you want to invest in gold coins, rare coins and other precious metals you will want to visit Monaco Rare Coinhttp://www.thenewbusinessworld.blogspot.com ...