Management

  • Creating a Post-Pandemic Business Continuity Plan

Creating a Post-Pandemic Business Continuity Plan

From a declining economy to a rising unemployment rate, the Coronavirus pandemic has made a major impact on all industries. This change left businesses with no choice but to either adapt or close down. In fact, a survey conducted by PricewaterhouseCoopers (PWC) shows that business leaders expect their company to recover only three months after the virus recedes.

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Negotiate from a Position of Strength | Extraordinary Business

The influential role of leadership and its impact on the success of your organization

Young business leader: Negotiate from a position of strength

It was interesting last evening watching the fourth GOP Debate and listening to the individuals talk. Some of them looked and sounded like leaders. Some of them looked and sounded like politicians. Some of them looked like they might have been coerced into being there or had something better to do. All of them caused me to think about what I look for in a leader and by extension, what employees look for in leadership.

One of the comments that was made had to do with “negotiating from a position of strength,” with respect to negotiating with Russia. As a leader, you need to take the same position – negotiating from a position of strength. You are leading a company – a business, and thus, you are a business person, and the lead business person at your company. Therefore, by extension, the way that you do business is the way that those at your company should do business. So if you’ve got a soft-handed approach, or no approach at all, then you can expect the same from your Company. If you exude strength, however, you will find that your organization will follow.

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Recruiting 101

Steps to Recruiting and Keeping the Best Employees for your Small Business

You have managed your business, whether it be a direct mail marketing practice or pet care business for the last few years. As a disciplined, independent entrepreneur, you have managed every detail; the semi-comedic introduction plays out like this:
“Are you the CEO?”
“CEO, secretary and janitor.”

However, as a well-studied businessperson, you also understand that the key success is intelligent growth, and the key to growth is hiring passionate, intelligent professionals to manage the aspects of the business which have distracted you and hence bit into your revenue. The question you need to ask yourself is, “I know I need the right office manager, general assistant or sales coordinator, but how to I get him or her to join my team?”
In short: you need to be recruiting. [···]

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Complex Decision-Making Model

Dartmouth’s recommendation on the process of decision-making

Problem solving is something that everyone has to do. Sometimes decisions are so simple that you don’t give much thought to it. At other times, decision-making can be very complex with a large number of possible outcomes. When business leaders face complex problems in their organizations, the outcome of their decisions can have ripple effects throughout the organization.

So the question deserves to be asked: how are these problems addressed.

Going with the first thing that pops into your head isn’t always going to be the best answer, nor the most complete answer. Sometimes, we decide to “jump off the bridge and build a parachute on the way down.”  However, it isn’t until after we have jumped off the bridge that we realize that we should have jumped a bit more to the left or to the right, then struggle, sometimes in vain, to attempt to compensate. Other times, perhaps, it is simply the wrong bridge. Or perhaps someone had already built an elevator.

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Taming the BEAST

How to make sense out of the chaos of running your company

One of the challenges that I see with small business owners, especially very small organizations, is getting and keeping control of the business and everything that it takes to do so. As a business leader, activities tend to take on a mind of their own, pulling us in every direction at once, challenging both our tenacity and mental stability at every turn. It seems as though everything is precarious at best; one misstep could take us plunging over the cliff into the abyss!!

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Taming the BEAST | Extraordinary Business

How to make sense out of the chaos of running your company

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One of the challenges that I see with small business owners, especially very small organizations, is getting and keeping control of the business and everything that it takes to do so. As a business leader, activities tend to take on a mind of their own, pulling us in every direction at once, challenging both our tenacity and mental stability at every turn. It seems as though everything is precarious at best; one misstep could take us plunging over the cliff into the abyss!!
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When Things go Wrong | Extraordinary Business

How to plan for and manage unexpected challenges you face in business

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You have probably been to a restaurant when it is extremely business, with people waiting out the door, slow service and very busy servers. You’ve probably been stuck in traffic at rush hour or when a big event is coming to town. You may have waited in long lines for a movie or for a ride at an amusement park or some of their place where you probably thought or said to yourself that they probably need more people or could use more space.
While you might understand or be patient if it happens once or twice, you will probably find alternatives – be it alternative locations if they are available, or available times if the issue seems to be a timing issue. In either case, you are thinking about the cost to switch or select a different option. If it is a restaurant, it may be fairly easy to find another restaurant or movie theatre, making the switching cost low. If it is an amusement park or a road, the switching cost might be higher – you may have to travel a great distance (cost) to avoid the lines or to get on open roads.
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When Things go Wrong

How to plan for and manage unexpected challenges you face in business

You have probably been to a restaurant when it is extremely business, with people waiting out the door, slow service and very busy servers. You’ve probably been stuck in traffic at rush hour or when a big event is coming to town. You may have waited in long lines for a movie or for a ride at an amusement park or some of their place where you probably thought or said to yourself that they probably need more people or could use more space.

While you might understand or be patient if it happens once or twice, you will probably find alternatives – be it alternative locations if they are available, or available times if the issue seems to be a timing issue. In either case, you are thinking about the cost to switch or select a different option. If it is a restaurant, it may be fairly easy to find another restaurant or movie theatre, making the switching cost low. If it is an amusement park or a road, the switching cost might be higher – you may have to travel a great distance (cost) to avoid the lines or to get on open roads.

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