Your company’s competitive advantage is best defined by answering the question “what makes your company better from your competition?” It could be a unique range of products and services that your company offers or just a spin on the way they are offered which makes customers prefer your company over others. Knowing your competitive advantage is extremely crucial so you can strategically place your organization ahead of others. For this you need to analyze the strengths and weaknesses of your competitors and understand how your company can bridge the gaps to improve the system. Another important aspect is understanding your target customers and building strategy to attract them towards your products and services. Successful companies focus much on making their offerings unique to create an advantage that is sustainable over time and helps them outperform their competitors. Many organizations, however, misidentify their competitive advantage and focus on the unimportant factors, which eventually leads to their decline in the market. Correctly identifying and clearly defining your competitive advantage is essential to better develop strategies that support company growth.
The world today is adjusting to a new normal. There have been drastic changes in almost every aspect of life and the COVID-19 crisis has forced us to find as many alternate ways as possible. Employees are working remotely, doctors are practicing telemedicine, retailers are facilitating online shopping, and all of these are quite new and challenging scenarios for the those in leadership roles. Talking of workplaces, many employees are perplexed and still struggling to acclimatize to the new normals. And, most of them are looking up to their leaders for support, answers and guidance. In the current scenario leadership is extremely important as well as hard. Today the businesses that are toiling to survive amid the crisis and are hoping to establish systems that create long-term success need leaders that can demonstrate the capabilities to navigate the uncertain times and find out approaches to developing new business models and strategies that work.
Over the last few years, the cases of discrimination in the workplace have considerably increased. Discrimination can be of varied forms based on race, religion, sex, color, national origin, age, disability and more. There are numerous federal laws as well as state and local laws that prohibit discrimination in the workplace. It’s the responsibility of the employer to strictly implement such laws and take appropriate actions against offenders. Dealing with the complaints of discrimination, properly investigating them and developing anti-discrimination policies are of utmost importance. There are two vital aspects of dealing with discrimination in the workplace as an employer – staying updated about the laws and regulations, and keeping a close watch on what’s happening in your organization. Discrimination complaints negatively impact the organization in multiple ways and may result in work disruption, costly lawsuits, government investigation, etc which damage the entire work environment. However, there are a few strategies to create a discrimination-free workplace. Take a look:
The world is chaotic today and people are facing unprecedented challenges. The businesses are struggling hard to stay afloat as the market trends and priorities of the customers have drastically changed. In such trying times, making a real connection with your customers using the conventional marketing techniques could be quite difficult. Today the brands need to be more responsible and compassionate to earn credibility and customer loyalty which could even outlast the ongoing crisis. American author Zig Ziglar had said “Stop selling. Start helping”, and now is the time to adhere to this more than ever. As the times are so uncertain, many companies aren’t sure how to frame their marketing messages or if they should really promote their product and services now. However, as the new normals are surfacing amid new challenges, it’s important to focus more on compassionate marketing. Adding value to the life of people, initiating positive changes within communities, caring for human needs and being responsible while doing business is the need of the hour.
The COVID-19 crisis has posed unprecedented challenges to the business world. Organizations are already struggling with business continuity, workforce management and talent acquisition as all these now are to be taken care of remotely. Over the last few months, the entire market scenario has drastically changed and it looks like it will remain so for a while. And now, with the arrival of summer, there is one more challenge which the companies need to address – managing virtual internship programs. There are a number of companies that believed remote work would be the future, long before the crisis began, and have a proper infrastructure in place. But there are many others that are still adjusting to this new normal. Several companies already have a list of selected interns and now they are wondering how to engage them remotely. Or, some were about to launch an internship program this summer for the first time and now they have no clue how to make it work. This is especially true for small businesses which now must rethink their strategies to recruit top talents as interns, remotely, so they can consider them adding to their talent pool in the future. It isn’t very tough though. A few changes and some creative problem solving could easily help you develop an effective virtual internship program. Here are a few tips to help you design one.
Remote work has emerged as the new normal in the COVID-19 crisis. A number of organizations have recommended their employees to work from home in an attempt to encourage social distancing, a vital aspect of fighting the pandemic. Although the idea of working from home sounds fascinating as there are no dress codes, no daily commute, more family time and you can work right from the comfort of your couch, there are a few downers as well which can make your entire experience quite disappointing. Focusing on work could be a real challenge when you’re working from home. Be it the household chores glaring at you, the chattering housemates or just some cacophonies on the nearby street interrupting your train of thoughts, sometimes staying productive while working from home could be quite a job. Also, for those who are habitual of socializing in the offices, the isolation at home can quickly trick their mind into boredom and depression.
It’s a common misconception that working from home is somehow easier than working from the office but in reality the former, in fact, requires a little extra effort to produce the desired outcome. The biggest challenge of remote work, which is managing yourself, could be turned into your greatest advantage using the right strategies. If you can master the art of managing your time, focus and accountabilities while you work from home, it can enhance your professional skill set in multiple ways.
Critical thinking is important in every aspect of life, be it personal or professional. It helps individuals diagnose problems and find solutions that aren’t always obvious but effective. When it comes to the workplace, critical thinking can help in resolving conflicts, solving problems without bias and making the best decisions for the organization and its people. It enhances the quality of work as well as professional credibility. The skill is especially important during crisis where one needs to carefully analyze the situation and devise an effective solution to the problem. Considering the ongoing coronavirus crisis which has led to business disruption in multiple industries, the organization leaders need to put more emphasis on critical thinking to navigate through the uncertainties. Most of the employees are working remotely, many business activities have been restricted, there have been huge transformations in the way work was being done and the entire environment is quite demanding. In such trying times, it’s vital to improve your critical thinking skills to get the desired outcomes.
The world is going through crazy times and is making unprecedented changes to battle the COVID-19 pandemic. Businesses are facing multiple challenges and there have been huge and not-so-desirable transformations. Many companies are forced to lay off employees and the ones who stayed are engulfed in fear and despair owing to the chaotic scenarios all around the globe. Now it’s more important than ever for the companies to create an ideal employee experience because adversity reveals the true culture of an organization. It is in the times of crisis when an organization’s ability to provide a good employee experience is truly tested. What kind of experience you provide to your employees today will be remembered for years to come and that will strengthen or weaken the core of your organization. Managing employee experience amid crisis needs to be a priority of every organization if they want to build a strong culture that goes a long way to help the company flourish. Employees devote so many hours of their lives to their organization and when a crisis hits they expect support and guidance to navigate through the tough times. Your employees are possibly overwhelmed with what’s happening around and as a business leader if you can help them feel good, your company will successfully sail through the rough waters.
The COVID-19 pandemic has impacted the world in numerous ways and is still presenting new challenges every now and then, some of which are pretty hard to cope with. Business owners and marketers are dealing with a drastically changed market and many are clueless how to navigate their businesses effectively. Physical offices have been shut down, there is a dearth of resources, and engaging and acquiring customers is becoming increasingly troublesome. Marketing teams are particularly struggling to reach their targets.
The COVID-19 crisis has severely impacted businesses all around the globe but it’s the small companies that are hardest hit. Large enterprises have a better chance of surviving this crisis as they have more resources whereas for many small business owners the situation could eventually turn out to be devastating, considering the fact there is no certainty when this all will be over. A number of small companies have closed their operations temporarily and some fear that the closure might be permanent if the pandemic continues for long. Business owners are uncertain how to navigate their businesses in this turbulent time and the employees are fearing unemployment. However, the good news is that this stressful time can be used as an opportunity to drive creativity and innovation which, in turn, can help your business survive.