In 2019 Fortune Global 500 companies generated $33.3 trillion in revenues and $2.1 trillion in profits. In total, they reportedly employed almost 70 million people in 32 countries. Impact of the Pandemic on Global 500 Companies Fortune Global 500 companies experienced significant losses in revenue as a result of the pandemic. Considered to be the…
Understanding Social Proof
What is Social Proof? Have you ever walked past an empty restaurant only to walk into one that is jammed with people? Why didn’t you go into the restaurant where there were no lineups, and you could easily get a table? The reason is that you were likely influenced by social proof. As the highly…
Business Trends for 2022
As the pandemic disrupted normal business operations throughout 2020, and then into 2021, there have been both challenges and opportunities for businesses across every sector to adapt to new ways of delivering products and services. So, what can we expect in 2022? Working Remotely Will Continue It is estimated that small and medium-sized businesses will…
Back to Work Planning
After a year or more of having staff working remotely during the coronavirus pandemic, organizations around the world are making plans for workers to return to the office. This planning is the result of infection rates trending downward and an increase in the number of people who have had the vaccine. Employers for many reasons…
Implementing a Strategic Plan
Implementation of strategic plans represents the execution of planning and analysis that has happened at a governance level. Often, strategic plans have been developed after boards and leadership teams have collected feedback and input from multiple stakeholders. Implementation gives a strategic plan life and essentially puts the planning into action. When Strategic Becomes Operational Whereas…
Conflict Management Styles
Effective leadership requires learning how individuals on teams manage conflict. How people manage conflict can have long-term implications for the overall success of an organization. We all have preferred conflict management styles. In total, the experts recognize five common conflict management styles. There isn’t one ideal style for handling conflict. In fact, each method of…
Negotiations
We negotiate every day of our lives with the people around us whether we know it or not. Not all negotiations are formal undertakings and can seem quite ordinary by nature. For example, you might make a deal with a neighbor to water your lawn while you’re away in exchange for helping to paint their…
Fake Reviews
Chances are you checked out online reviews before you booked your last hotel room or made dinner reservations at a new restaurant. In today’s world, online reviews are playing a major role in helping people make buying decisions. Businesses use online reviews to drive sales because they provide a level of “social proof” for their…
Influence – The Psychology of Persuasion
Influence – The Psychology of Persuasion, written by Robert B. Cialdini (1984) is considered to be one of the most important books on business ever written by industry gurus such as Guy Kawasaki (Apple Inc. Evangelist) and Paul Allen (Microsoft Co-Founder). About Robert Cialdini Author, Robert Cialdini, conducted prolific scientific research on selling which led…