Management Blog

Trends in interactive marketing

In a recent Multichannel Merchant article, the first of a two-part series, Josh Perlstein looks at seven Internet trends that merchants can use to their advantage.

According to the author it's taken as a given that the Internet allows for the most cost-efficient, personalised and effective communication with consumers. Just as importantly, it allows for communication and sales tactics to be quickly, easily and accurately measured and optimised.

Trends discussed in part one include really simple syndication (RSS), mobile communication and new ways to use search engines.

Quality of life determines decision to relocate

The quality of life in a new city is a major influence on top executives choosing to relocate for job opportunities. That's according to a survey by Robert Half International Inc of more than 1400 chief financial officers from a random sample of US companies with 20 or more employees.

31% of CFOs said the quality of life in a new city would most influence their decision to relocate for a job opportunity, while 27% cited compensation as the foremost consideration.

"Taking a job in a new town is not just a career decision - it is a lifestyle choice," said Max Messmer, chairman and CEO of Robert Half International. "Companies that highlight the qualities that distinguish their city, such as a reputation for safety, highly regarded school system or cultural events, increase their chances of attracting top professionals."

With an increasingly competitive job market in Australia, employers trying to attract interstate recruits may benefit from "selling" their city or town as well as their organisation.

The role of humour in selling

Humour is one way of overcoming price objections, according to this Businessweek article by Michelle Nichols.

She includes the example of Alan Perry, a jeweler in Wilmington, North Carolina, offers a money-back guarantee on diamond rings if it rains at least an inch on the couple's wedding day, and the rings have been purchased at least 100 days before the wedding. His sales have quadrupled since he started the programme.

Nichols also cites Los Angeles gas station owner Paul Moghadan, who spent an extra $5000 remodeling the station's unisex bathroom with a chandelier, art, floral arrangements, an Italianate slate floor, and gold-plated water fixtures. Now, customers make a special stop to use his facilities—but first, they have to buy some petrol.

Using such novel tactics can "soften up" the customer, says Nichols, and can be the differentiator in a crowded market.

Interview preparation

It can be nerve-wracking or exhilarating - the job interview. If you are preparing for an upcoming interview, an excerpt from The Accelerated Job Search which details 50 common interview questions and answers may be of use.

Some of those selected are:

Are you a team player?
You are, of course, a team player. Be sure to have examples ready. Specifics that show you often perform for the good of the team rather than for yourself are good evidence of your team attitude. Do not brag, just say it in a matter-of-fact tone. This is a key point.

Have you ever had to fire anyone? How did you feel about that?
This is serious. Do not make light of it or in any way seem like you like to fire people. At the same time, you will do it when it is the right thing to do. When it comes to the organization versus the individual who has created a harmful situation, you will protect the organization. Remember firing is not the same as layoff or reduction in force.

Tell me about a problem you had with a supervisor.
Biggest trap of all. This is a test to see if you will speak ill of your boss. If you fall for it and tell about a problem with a former boss, you may well blow the interview right there. Stay positive and develop a poor memory about any trouble with a supervisor.

For more information, read the comments associated with the blog entry where further questions are explored, including the dreaded "What is your greatest weakness?".

Creative industries crucial for future economy

The creative economy is a crucial emerging concept for Australia, according to a recent article in The Australian.

The term embraces the growing role of creative industries and creative people in the economy and society and has much to do with competitiveness in the global future.

The creative economy is a difficult category to nail down, but it is bigger and broader than we think, and it is much more than culture and the arts. It joins together a broader range of industry sectors than those that traditionally have been classified as cultural, giving birth to the notion of the creative industries. But it also goes beyond a sectoral focus to embrace how creative roles or occupations are increasingly being found throughout the economy.

The latest UK figures show that creative industries are second only to business services in driving Britain's economy. 

Learning to let go

Hanging on for too long to what has been successful in the past can be a company's biggest mistake, according to IBM vice president of technical strategy and innovation Irving Wladawsky-Berger.

In a recent article 'What Does an Innovative Company Look Like?', he says established companies must be open to change and be willing to modify old habits.

Management must have a business strategy in place that allows for the introduction of new products and services and offers a formal way to retire older products and services. Quoting Austrian economist Joseph Schumpeter, Wladawsky-Berger refers to this as 'creative destruction'.

Study finds collaboration prized over heroics

The definition of effective leadership has changed over the past five years, say a large majority of 350 upper-level managers surveyed globally by the Center for Creative Leadership (CCL).

Collaboration rather than heroics is the answer for future leaders, thus extending leadership throughout the organisation. The required skills include building and mending relationships, participative management and change.

Presentation Zen

A late entry for the Link Roundup... For useful tips for professional presentation design, Garr Reynolds' Presentation Zen blog is a must-see. His focus on simplicity in design goes beyond the usual PowerPoint presentations.

Tips included in Reynolds' entry on presenting "naked":

- Don't try to impress. Instead try to, share, help, inspire, teach, inform, guide, persuade, motivate... or make the world a little bit better.

- Do not use "corporate-speak" - speak like a human being. You can not be naked if you say something like "best practices" or "empowering a new paradigm."

- Never decorate your messages or your supporting visuals. Decoration is veneer. Think design, but never decoration. Design is soul deep, decoration is "Happy Birthday" placed atop a sponge cake.

Link roundup - 18 August 2006

A selection of interesting links and articles collected over the previous week...

Ten Questions with Seth Godin: VC guru Guy Kawasaki interviews marketing guru Seth Godin about his latest book.

This is Broken: Lists submissions from customers about their experiences with business, namely what isn't working.

7 Idea Dumping Tips: Never lose a good idea - tips for capturing your good ideas from LifeDev.

Websites that Changed the World: The Observer lists the key sites that have, to date, changed the face of the web.

10 Tips on Leading a Balanced Life: Commonsense advice from blogger Allan Galbraith that serves as a timely reminder for busy businesspeople.

Eight simple rules for innovation

In a recent CEO Refresher article, Katalin Eibel-Spanyi outlined eight rules for innovation specifically for small and medium sized enterprises (SMEs).

The author calls for companies to move beyond so-called 'old' models of innovation, which focuses on creating new products.

Ideas include:

Rule #5: Cultivate a Learning Orientation
Innovation demands that firms continuously examine the way in which business is conducted, and that requires a strong learning orientation. The extent of a firm's learning orientation is comprised of four distinct components; commitment to learning, shared vision, open-mindedness, and inter-organizational knowledge sharing.

Rule #7: Dabble with Weird Ideas
Thinking outside the box involves sometimes dabbling with 'weird ideas.' While some of the advice on this topic applies principally to larger firms, such as 'hire people whom you (probably) don't need', others are worthwhile considering. For example, weird ideas such as 'rewarding both success and failure and punishing inaction' and 'using job interviews to get new ideas - not to screen candidates' are both intriguing concepts that apply equally to SMEs.