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Leadership Inspirations – Revealing Character
“Sports do not build character. They reveal it.”
Heywood Broun, Jr
(1888 – 1939)
American sportswriter, newspaper columnist, and editor
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Women on Business: Taking the Lead and Making a Difference
The balance of power is tipping toward the feminine with more women taking on the workforce by graduating en masse from higher education well and above their male counterparts as well as starting businesses and taking a leading role in how major companies around the world are run. When it comes to women on business, they are coming out on top, but there is still more that they can do to make a difference and help to stimulate the economy on the road to recovery.
Here are some key areas where women can help other women start taking the lead:
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About the Author
Visionary and lauded business accelerator Michelle Patterson is President of the Global Women Foundation and The California Women’s Conference – the largest women’s symposium in North America that has featured esteemed First Ladies, A-List Hollywood celebrities, and high caliber business influencers. Michelle is also the CEO of Women Network LLC, an online digital media platform dedicated to giving women a voice and a platform to share their message. Michelle may be reached at WomenNetwork.com.
Corrective Action Program Best Practice 6 – Condition Report Causal Codes
Condition reports provide detailed information on the organization’s performance deficiencies, operational events, and opportunities for improvement. That information, however, is typically captured in a voluminous long text format unconducive to the type of aggregate analysis providing insights to the underlying causes and precursor challenges required of proactive management action. Applying standardize, short text causal codes to condition reports helps overcome this analytical challenge.
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About the Author
Nathan Ives is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.
Corrective Action Program – Minimum Condition Report Data Requirements
Condition reports capture adverse conditions or trends data so to enable an appropriate organizational response. Consequently, those documenting issues must provide enough information for responders to evaluate the condition within a timeframe consistent with its significance. Concurrently, too much data must not be required such that reporting problems is administratively burdensome or time consuming; creating a barrier to reporting. To ensure these objectives are met, minimum data reporting standards must be in place and reinforced.
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About the Author
Nathan Ives is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.
Why Your Business Needs To Start Monetizing Its Data
Because of the digital age that we live in, most people know of and even understand what data is. They say that information is power. In the business world, that is quite right! Firms of all shapes and sizes have and deal with a lot of data on a daily basis.
Data examples include contact details and even the way customers pay for their goods and services. It’s a well-known fact that running a business is tougher than ever these days. But, the sad truth is that organizations aren’t using the data they have to make some money!
Data monetization is a lucrative market. The sector is large, but it could be bigger if more firms used the information they hold to increase their revenue.
If you’re still not convinced, keep reading to learn why your business needs to start monetizing its data today!
Photo courtesy of Sean Ellis
You learn more about your customer spending habits
Let’s face it, we all have uniquely personal spending habits. Some of us lead an extravagant lifestyle and are happy to pay for high-end products. Others prefer to count the pennies and only buy things we need rather than all those things we want.
Customer loyalty cards are one of the best ways of gaining insights into how people spend their money. It’s a classic way of fostering data monetization. Why? Because you can target specific promotions to individual customer groups.
Let’s say that you own a retail store. People will sign up for loyalty cards if they know they can enjoy special offers and deals that are applicable to them. Yes, you can offer targeted promotions to loyalty card holders.
But it’s also a good way of learning which products are best-sellers and which ones are nothing better than loss leaders.
Work with other firms to cross-promote products and services
If you run an ISP business, you could work with retailers that sell computers to offer your services to their customers. Likewise, you could offer discounted rates to people leaving particular competitors.
Sharing data is always a neat idea for two sets of organizations that can complement each other’s wares. There’s no point trying to go solo if there’s an opportunity to work with someone else. At least on an opportunity that is mutually beneficial of course!
Sell anonymous data to relevant organizations
No one likes the idea of companies selling their personal details to other people. But, did you know that you can sell anonymous data to third parties without it being controversial?
For instance, let’s say that you are a commercial property developer. And you own a shopping mall. Market research firms may wish to buy data from you like the following:
- Number of shoppers per day, week, month or year;
- Average store occupancy rates;
- Shopper spending habits (e.g. Do they spend most of their cash on clothing, food, or electronics?).
As you can see from this example, anonymous data can be attractive to third party organizations. And because you aren’t selling any personal details, you won’t fall afoul of the law.
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