glomc00 - The Global Millennium Class
Topic: agriculture & rural development | authors | business & finance | design | economy | education | entrepreneurship & innovation | environment | general | healthcare | human resources | nonprofit | people | policy & governance | publishing | reviews | science & technology | university research
Date: 2013 | 2014 | 2015 | 2016 | jan'17 | feb'17 | mar'17 | apr'17 | may'17 | jun'17 | jul'17 | aug'17 | sep'17 | oct'17 | nov'17 | dec'17 | jan'18 | feb'18 | mar'18 | apr'18 | may'18 | jun'18 | jul'18 | aug'18 | sep'18 | oct'18 | nov'18 | dec'18 | jan'19
Five Ways Mobile Technology Will Transform Education | iAfrica, 13 feb 2019
Augmented and Virtual Reality in Healthcare Industry - Deep Research Study of Current and Future Aspects | Medgadget, 13 feb 2019
Innovation In The Pink Of Health: Trends & Tech In Healthcare | Asian Scientist, 13 feb 2019
Where will we find the time for character education? | TES News, 12 feb 2019
Report: Why Tech for Adult Learning So Often Misses the Mark | Campus Technology, 12 feb 2019
In healthcare, better data demands better privacy protections | TechCrunch, 12 feb 2019
Here's how to make 'value-based healthcare' a reality | World Economic Forum, 12 feb 2019
As The Global Economy Slows, The Grab For Yield Will Accelerate | IoT For All, 12 feb 2019
The meaning of a good, well-rounded education | The Guardian, 11 feb 2019
This is the only chart to watch ahead of the world's impending economic slowdown | Business Insider, 11 feb 2019
Business & Finance
Mohammad Anas Wahaj | 11 feb 2019
According to the resaerch by Prof. Elizabeth A. Minton from University of Wyoming, Prof. Kathryn A. Johnson from Arizona State University and Prof. Richie L. Liu from Oklahoma State University, 'Religiosity and special food consumption: The explanatory effects of moral priorities', published in Journal of Business Research, people with strong religious beliefs are more likely to buy fat-free, sugar-free or gluten-free foods than natural or organic foods. The research could influence the marketing of those specialty food products. Prof. Minton says, 'Religion is the deepest set of core values people can have, and we wanted to explore how those values impacted the market choices people make. We found religiosity influenced the selection of more diet-minded foods...' The study was carried out online and included responses from over 1700 people across the U.S. Prof. Johnson says, 'Often, people make intuitive decisions about food that could require more careful thought. People might make choices based on a cultural narrative or their religious and moral beliefs, without giving measured thought to whether there is a better option.' According to the research, the moral foundation of care drives the choice of sustainability-minded food products, and the moral foundation of purity is behind the choice of diet-minded foods. Prof. Liu says, 'The findings from our work can directly help businesses promote food products to specific groups of people without potentially alienating customers by including religion.' Read on...
University of Wyoming News:
UW Researcher: Religion Affects Consumer Choices on Specialty Foods
Author: Chad Baldwin
Mohammad Anas Wahaj | 15 jan 2019
According to the recent report published by the British Council and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), 'Developing an Inclusive and Creative Economy: The state of social enterprise in Indonesia', millenials are leading a surge in the creation of business that are working to create positive social and environmental impact. More than 70% of a surveyed sample group mentions that the social enterprises started in the last two years and about 50% of the social entrepreneurs are aged between 25 and 34 years. The reports estimates that there are more than 342000 social enterprises in the region. In Indonesia more than 1/5th of social enterprises work in the creative industries, contrary to other countries in Aisa-Pacific region, such as the Philippines, Sri Lanka and India, where agriculture, education and health dominate. Ari Susanti, a senior program manager for the British Council in Indonesia, says, 'Many young people want to work in an area where they can make change, not just earn a salary.' According to the World Bank, Indonesia is an emerging middle-income country that, over the last 20 years, has seen growth in GDP at the same time as poverty has been cut in half. These conditions are enabling the growth of social enterprises. Armida Salsiah Alisjahbana, executive secretary of UNESCAP, says, 'UN body would support the development of social enterprise as a key means of building an inclusive and creative economy. Social enterprise is an opportunity for Indonesia...This report provides a solid evidence base to inform future policies and strategies.' These social enterprises mainly support and benefit local communities, women and young people. Moreover, they have also become a substantial source of employment - the number of full-time workers employed by social enterprises increased by 42% from 2016 to 2017. The rise in social enterprises is also proving good for gender equality - the social enterprise workforce is estimated to be made up of 69% women and is responsible for a 99% increase of full-time female employees in 2016-17. Government, corporations and universities have all come together to offer their support to social enterprises. Bambang P. S. Brodjonegoro, economist and the Minister of National Development Planning of Indonesia, wrote in the introduction of the report, 'The government aims to be an active partner of social entrepreneurs and is committed to continue building and nurturing the social entrepreneurship ecosystem.' Read on...
Millennials lead social enterprise surge in Indonesia
Author: Lee Mannion
Mohammad Anas Wahaj | 14 jan 2019
Autonomous shopping concept intends to bring brick-and-mortar and internet shopping into a unified and integrated retail experience. The grab-and-go smart shopping carts promote cashier-free automatic check-out eliminating wait in lines. TechSpot's contributing writer, Cohen Coberly, says, 'While it seemed like brick-and-mortar retail would be all but killed off following the explosive rise of online shopping, what we're instead seeing throughout the US is not death, but evolution.' According to a 2018 survey by RIS News, 'The leading new shopping option wanted by consumers was "grab-and-go" technology (in which customers can self-checkout using their smartphones). 59% said they'd like to use this, and 9% had used it.' In a global survey of 2250 internet users conducted by iVend Retail and AYTM Market Research, 'Roughly 1/3rd of respondents said they would like to make automatic payments using digital shopping carts.' Caper is a smart shopping cart startup. Josh Constine, technology journalist and editor-at-large for TechCrunch, reports, 'The startup makes a shopping cart with a built-in barcode scanner and credit card swiper, but it's finalizing the technology to automatically scan items you drop in thanks to three image recognition cameras and a weight sensor. The company claims people already buy 18% more per visit after stores are equipped with its carts.' Linden Gao, co-founder and CEO of Caper, says, 'It doesn't make sense that you can order a cab with your phone or go book a hotel with your phone, but you can't use your phone to make a payment and leave the store. You still have to stand in line.' The current Caper cart involves scanning an item's barcode and then throwing it into the cart. Brittany Roston, senior editor and contributor at SlashGear, reports, 'The smarter version will eliminate the barcode part, making it possible to simply put the items in the cart while the built-in tech recognizes what they are.' Chris Albrecht, managing editor at The Spoon, also reports, 'The future iterations, already in the works, will remove the barcode and will use a combination of computer vision and built-in weight scales to determine purchases. The customer completes shopping, and pays on the built-in screen.' The concept of scanless carts involves deep learning and machine vision. Cameras are mounted in the cart. The screen on the cart gives the shopper different kinds of information - store map, item locator, promotions, deals etc. It recommends items based on contents already in the basket. Read on...
Next-level autonomous shopping carts are even smarter
Author: Nancy Cohen
Mohammad Anas Wahaj | 13 jan 2019
Team of researchers from University of Michigan at Ann Arbor (Prof. Timothy F. Scott, Prof. Mark A. Burns, Martin P. De Beer, Harry L. Van Der Laan, Megan A. Cole, Riley J. Whelan) have developed a new approach to 3D printing that lifts complex shapes from a vat of liquid at up to 100 times faster than conventional 3D printing processes. 3D printing could by highly beneficial for small manufacturing jobs without the need for a costly mold. But the usual 3D printing approach of building up plastic filaments layer by layer hasn't been usable in that aspect. Prof. Scott says, 'Using conventional approaches, that's not really attainable unless you have hundreds of machines.' The U. of Michigan innovative 3D printing method solidifies the liquid resin using two lights to control where the resin hardens - and where it stays fluid. This enables solidification of the resin in more sophisticated patterns. The process can make a 3D bas-relief in a single shot rather than in a series of 1D lines or 2D cross-sections. The printing demonstrations from this approach include a lattice, a toy boat and a block M. Prof. Burns says, 'It's one of the first true 3D printers ever made.' By creating a relatively large region where no solidification occurs, thicker resins - potentially with strengthening powder additives - can be used to produce more durable objects. The method also bests the structural integrity of filament 3D printing, as those objects have weak points at the interfaces between layers. Prof. Scott adds, 'You can get much tougher, much more wear-resistant materials.' The research paper, 'Rapid, continuous additive manufacturing by volumetric polymerization inhibition patterning', is to be published in Science Advances. Read on...
Mohammad Anas Wahaj | 30 dec 2018
When design trends get too hyped they lose relevance. Co.Design editor Susanne Labarre discussed the future of design with the judges of the 2018 Innovation by Design awards. Following are 3 over-hyped design trends - (1) ALGORITHMS AREN'T EVERYTHING: Jason Chua, the executive director of advanced topics at United Technologies, says, 'I think there's this impatience to say we have an algorithm for something, and that'll solve all our problems. Machine learning is not a panacea, and if you don't apply human-centered principles, you may see some of these things run amok. I think it's very valuable...but it needs to be applied in very careful ways.' (2) VIRTUAL REALITY HAS NOTHING ON THE PHYSICAL WORLD: Edel Rodriguez, illustrator and graphic designer, says, 'I don't like VR...I don't care how many times people say this is great new technology. It's just not how I want to experience the world and not how I want my kids to experience the world. There's a lot of information a kid can get through flipping a page or touching things.' (3) DATA IS PRODUCING DESIGN THAT ALL LOOKS THE SAME: Marcelo Eduardo, founding partner at Work & Co, says, 'There's an oversimplification - a lot of things look the same...People are designing in such a strict way using data all the time and they're losing the creative potential...that's when you're disruptive. Data-driven design...stagnates really fast. Someone takes over by doing something different that you wouldn't do if you were analyzing the data. Read on...
Mohammad Anas Wahaj | 28 dec 2018
Corporations have student ambassador programs in which they hire students to promote their brand on educational campuses. These campus representatives create buzz about the companies during career fairs, work with student organizations to invite company professionals for guest lectures, talk about their internship both in-class and outside, give samples, post on social media about them etc. Adam Grant, CEO of Campus Commandos (a youth marketing agency that runs student brand ambassador programs), provides essential elements that companies should consider when hiring students to talk about their brands on campuses - (1) Compensation: Think beyond monetary compensation; Enhance their learning and skills; Provide interaction and networking opportunity with company leaders and executives. (2) A Hands-On Approach: Have direct involvement in the program; Keep interacting with students during the program; Preferably, don't entirely outsource the program to another company. (3) Future Opportunity: Provide opportunity for internship and future employment for best performers; Engage students with the company's human resources. (4) Mobile: Incorporate mobile technologies in the program; Utilize documentation tools available on mobile devices that allow student ambassadors to provide pictures, videos and notes. (5) Work Schedule: Understand student's work schedule; Work out expectations of the program around the student's educational priorities. (6) Organization: Build a program that incorporate goals; What is required by students to reach these goals; Their progress reports; Recognize top performers. Read on...
Mohammad Anas Wahaj | 28 nov 2018
For the success of businesses a solid foundation or strong core is necessary and then only innovative strategies, tactics, programs and technology that are applied will be impactful and bear fruits. Scott Vaughan, CMO of Integrate, suggests the focus on achieving the revenue marketing goals and provides five essentials that high-performing B2B marketing teams consistently focus on to drive high performance - (1) PRECISION - Accurately defining ICP (Ideal Customer Profile) and identifying best account opportunities: Engage the right audiences; Avoid random marketing to general people; Identify smaller group of core audience; Use advanced tech such as predictive marketing and intent data modeling to identify more of the best accounts and buyers. (2) TRUST - Committing to permission-based marketing in an increasingly regulated world: Treat information with care; Ensure the understanding and fulfillment of data-privacy laws; Permission mindset builds trust. (3) HYGIENE - Generating quality, actionable data to drive performance and create experiences: Recent survey by DemandGen Report finds, on average, more than 35% of the data in existing databases is unmarketable. Use effecient data hygiene; Bad data wastes marketing and sales efforts; Audit data-capture processes and sources, and use data governance filters before data enters database. (4) SPEED - Increasing velocity makes everything perform better: Current processes and tech investments need to have a speed evaluation; Identify areas where data can be routed faster and action can be taken within an appropriate time; Watch closely 'pipleline velocity' (Time from when an opportunity identified and finally converted into a deal) (5) INSIGHTS - Measuring to understand the good, the bad and the ugly: High-performing marketing teams use insights with key ingredients like agreed-upon key performance indicators (KPIs), tools that can measure performance, easy-to-use shared dashboards for all stakeholders (marketing, sales, management etc). Read on...
5 essential strategies B2B marketers must master in 2019
Author: Scott Vaughan
Mohammad Anas Wahaj | 26 nov 2018
In today's businesses, digital is one of the critical component that defines their growth and success. With digital and related analytics, organizations can easily track and create insights to better understand consumer behavior for their benefits. Gabriel Shaoolian, founder of DesignRush, provides valuable statistics in marketing, website design and branding for efficient online strategy and subsequent online success - (1) By 2021, mobile e-commerce will account for 54% of all online sales. (2) 38% of users will stop interacting with a website if the layout is unattractive. (3) Long landing pages generate up to 220% more leads than above-the-fold calls to action. (4) Color improves brand recognition by up to 80%. (5) Consistent brand presentation across all platforms increases revenue by up to 23%. (6) 64% of consumers say that shared values help them create a trusted relationship with a brand. (7) Content marketing efforts receive three times the leads per dollar spent than paid search receives. (8) 64% of consumers make a purchase after viewing a branded social video. (9) Facebook Ad revenue in the US will surpass total print ad spending by 2019. (10) Email has a median return on investment of 122%. Moreover, he suggests the following key points to be noted for digital strategy - Create an easy-to-use website that works on all platforms and devices; Design a memorable brand identity that communicates well with consumers; Maintain an honest and transparent relationship with customers; Invest in content marketing and social media advertisements; Test video marketing campaigns to engage users; Don't forget about the power of email marketing. Read on...
Mohammad Anas Wahaj | 30 oct 2018
When one thinks of marketing, Northwestern University Professor Philip Kotler's name comes right at the top. He is author of the most used marketing texbook in business schools, 'Marketing Management: Analysis, Planning, Implementation and Control', alongwith another 57 books on the subject. Speaking with Paul Talbot, President of a marketing strategy firm Southport Harbour, Prof. Kotler shares his views on the role of CMOs (Chief Marketing Officer) in today's business organizations. Regarding their skills and talents, he says, 'In the 1960s, marketers were hired for their flair for advertising and creativity...Today, we need CMOs with a different skill set. CMOs must be expert at digital marketing...Information and mathematics are crucial. Companies need in-depth information about their customers’ individual beliefs, values, media consumption and channel choices. Marketers today use multiple regression analysis, cluster analysis, discriminant analysis, and predictive analytics to yield customer insight. Marketers increasingly make investments in...social media. CMO has to have good creative marketers on the staff to bring up bright new ideas. The tech approach to marketing is more about efficiency. Marketing creativity and imagination is about winning big.' Regarding collaboration between between marketing teams and others in the organization, he says, 'Back in the 1960s, companies didn’t have a CMO. They had a powerful vice-president of sales who was the driving force. They had added a vice-president of marketing whose job was primarily managing marketing research and preparing advertising and sales promotions...The chief marketing officer concept emerged as markets grew more complex and competitive...who would participate in finding and shaping what the company should produce, in identifying the target markets, and evaluating the overall company strategy...CMOs need to be effective in the following relationships: ...The CMO had to 'carefully' educate the CEO to understand marketing's potential and limitations; ...the CMO and CFO would work together to find and agree on the best way to measure the return on marketing spend; ...I view R&D people to be the masters of what is possible. I view marketers to be the masters of what is valuable; ...If those two executives (CMO and VP of sales) don't get along, the company’s financial performance is doomed.' Read on...
Northwestern Professor Philip Kotler On Today's CMO
Author: Paul Talbot
Mohammad Anas Wahaj | 26 oct 2018
Sustainability is evolving into an essential component of fashion and design industry due to environmental concerns. The Brooklyn Fashion + Design Accelerator (BF+DA), a Pratt Institute (US) initiative, is a hub of ethical fashion and design, providing resources to design entrepreneurs, creative technologists and professionals to turn ideas into businesses. Debera Johnson, founder and ED of BF+DA, also established the Center for Sustainable Design Strategies at Pratt Institute and has been integrating sustainability into art, design and architecture programs. She says, 'There are really three things that we're focused on doing. First - redefining the fashion industry around the environment and society...Second - we have production facilities open to designers. Our goal there is to be a local resource for sustainable production and to help educate designers about how to implement strategies around efficiencies and sustainable supply chain...The third and probably the newest part of what we're doing is becoming a research and design center for the integration of technology into smart garments and functional textiles - and, most importantly, with the idea of sustainability alongside it.' Regarding consumer perceptions, she says, 'Consumers need to decide whether they're more interested in saving pennies or saving the environment. Products that are quality are going to cost more. We just have to decide where we stand...At BF+DA, transparency is a big piece of how we do storytelling...' Regarding coming together of technology and sustainability, she says, 'The digitalization is one of them. I also think that biotech is creating really interesting materials in laboratories and not farms...Then you also have things like blockchain to help with traceability...And there's also nanofibers.' Read on...
Mohammad Anas Wahaj | 23 oct 2018
Recent passing away of Microsoft's co-founder Paul Allen (b.21 jan 1953 - d.15 oct 2018) brings to the forefront his contributions, not only to technology and entrepreneurship, but also to education, arts, culture etc as part of his philanthropy. After leaving Microsoft's management in 1983, his philanthropic activities focused on the city of Seattle (US), his hometown. He endowed a separate school for computer science and engineering at the University of Washington. His investments in Seattle's South Lake Union locality has recast the city as an increasingly popular destination for young technologists. Some of his cherished contributions to the city's scene and skyline include artistic and athletic monuments to which he devoted a substantial portion of his wealth. He commissioned Frank Gehry to design a pop-culture museum. He also developed a children's center at the Seattle Public Library, funded an off-campus studio for the beloved public-radio station KEXP, and established a military-history museum outside the city. He was an ardent advocate of environmental protection, computational bioscience, and space exploration, donating millions of dollars to regional nonprofits. He invested in sports and acquired Seattle Seahawks at the time the team was planning to leave the city. In his memoir, 'Idea Man' (2011), responding to criticism that his philanthropy lacked focus, he wrote, 'At times, I cast my net too widely. But my choice of ventures wasn't arbitrary.' In 2000, the chairman of the architecture department at the University of Washington likened him to a modern Medici (an influential banking and political family of Florence, Italy). His contributions to entrepreneurship and technology are public knowledge. He recounted in his memoir regarding the initial mission of his venture with Bill Gates was, 'A computer on every desk and in every home.' Mr. Gates recently wrote, 'Paul foresaw that computers would change the world.' He influenced the technological innovations like point-and-click computing, word processing, and multi-button mouse. Mr. Allen attributed his entrepreneurial ambition and imagination to a wide-ranging autodidacticism and a natural passion for art and literature. Even though a technologist and part of a cut-throat and highly competitive industry, he understood that the products he designed were complements to preexisting lives, all of them rich and varied. He wrote in his memoir, 'That's a core element of my management philosophy. Find the best people and give them room to operate, as long as they can accept my periodic high-intensity kibitzing.' Read on...
The New Yorker:
The Rare Humanism Behind Paul Allen's Technological Vision
Author: Eren Orbey
Mohammad Anas Wahaj | 22 oct 2018
Brands are all around and everything that is put forward for public consumption requires adequate branding. Sumarie Schreiner, founder of BrandBrew Consulting, explains the value of branding and what is essential for building great brands. She provides 5 core pillars for brand building - (1) Link The Thinking And Feeling: Great brands connect, resonate and then become acceptable. They connect thinking with feeling, and attract attention and keep interest with the promise of something extraordinary. They offer value beyond products and services and make a difference. This inturn evoke emotions and provides sense of belonging, thus creating trust. (2) Build Trust: To build trust requires consistency and time. Trust provides reassurance. Trust is inherent part of human senses. It constitutes both environment and people. Trust = Reliability + Desirability x Experiences. In the present push economy people are more empowered and demanding. Their experiences define their standards of expectations. (3) Offer Value Beyond Your Product/Service: Value builds trust and need to go beyond products and services. Value is both objective and subjective and is derived from all the interactions with a business. Value creation needs to run through the DNA of the organization. It should be the way of life. Outside-in approach offers true value. Relevant and valued experiences are build in response to customers' needs at the right time and place. (4) Differentiate To Those People You Want To Connect With: Understanding diversity of needs helps provide solutions accordingly. People want to belong and connect with other people and organizations that share their values. Differentiate but more importantly make a difference. (5) Help Those People To Connect And Belong: Shared values and belonging develops true connections with emotions. Human-centered, outside-in approach connects at an emotional level and builds long-term relationships. Storytelling helps to differentiate and creates a space in people's memory. Brand is defined by what customers and employees feel about the business. Unlock and cultivate the value offered and keep building on the trust earned. Read on...
"Trust me, I'm a brand!" - What is the value of branding?
Author: Sumarie Schreiner
Mohammad Anas Wahaj | 30 sep 2018
People with business education and experience are now getting inclined towards social enterpreneurship and enterprises. They are realizing that business skills and expertise can be utilized to provide solutions to society's challenges. Prof. Patrick Adriel H. Aure of De La Salle University (Philippines) explains the importance of encouraging social entrepreneurship among business students and shares research and programs that he conducts at the university. The program, Lasallian Social Enterprise for Economic Development (LSEED), involves incubating student-led social enterprises that partner with marginalized local communities, while Social Enterprise Research Network (SERN) undertakes research and advocacy activities. Regarding one of the research conducted in relation to business students and social enterprises, Prof. Aure says, 'Our statistical analysis suggested there are two factors that consistently influence business students' intention to engage in social entrepreneurial activities - (1) Their perceived support from friends, family, and other organizations. (2) Their prior experience in socially-oriented activities such as volunteering.' Research findings suggest - Design social enterprise advocacy campaigns to target group participation and not encourage students individually; Schools may want to consider creating a pipeline of activities that enrich students' socially-oriented experiences. Read on...
The Manila Times:
Encouraging social entrepreneurship among business students
Author: Patrick Adriel H. Aure
Mohammad Anas Wahaj | 24 sep 2018
Mentors are an important component of learning-based relationships. Wikipedia quotes a definition of 'mentoring' from a research published in 2007 in SAGE Journals, 'Toward a Useful Theory of Mentoring: A Conceptual Analysis and Critique' (Authors: Barry Bozeman, Mary K. Feeney - University of Georgia, Athens, USA), 'Mentoring is a process for the informal transmission of knowledge, social capital, and the psychosocial support perceived by the recipient as relevant to work, career, or professional development; mentoring entails informal communication, usually face-to-face and during a sustained period of time, between a person who is perceived to have greater relevant knowledge, wisdom, or experience (the mentor) and a person who is perceived to have less (the protégé).' On prsa.org (PRSA - Public Relations Society of America) website, PR expert Prof. John Guiniven of Elon University in North Carolina, says, 'Mentoring is all about communication and relationships, so it's natural for public relations to be in the forefront.' Over the course of learning, people can go through many mentoring relationships, brief or long. But, there are few mentors and their inspiring advice that sticks in one's memory and they often share this with others. 10 members of Forbes Agency Council share the most important learning received from their mentors about PR and media strategy - (1) Consistency Is Essential - Darryl Mascarenhas, LivelyGroup (2) Don't Send Garbage To Media Contacts - Ajay Gupta, Stirista Digital (3) Collaborate With Stakeholders - Ana Miller, Asquared Communications Group (4) Nobody Can Tell Your Story Better Than You - Alexander Yastrebenetsky, InfoTrust LLC (5) Go Big, Go All In, Or Go Home - Dan Russell, Vivid Labs (6) The Order Of Operations Matters - Jared Mirsky, Wick & Mortar (7) Create A Connection - Drew Kraemer, Marketplace Strategy (8) Depict Core Beliefs And Values - Chris Gutierrez, TouchFuse (9) Develop Insights - Julia Gardner, MAAST DIGITAL (10) Be Authentic - Mark Stubblefield, Stubgroup Advertising. Read on...
Memorable Mentor Advice: 10 Thoughts On PR And Media Strategy
Mohammad Anas Wahaj | 30 aug 2018
It's critical for the marketers to understand the collective habits of the customers of a particular segment they want to sell. Engineers are one such segment that B2B marketers have to deal with while pursuing their campaigns. Patrick D. Mahoney, President and CEO of IEEE GlobalSpec, explains the IEEE GlobalSpec's '2018 Pulse of Engineering Survey - The Changing Work Environment for Engineers Today' and how industrial marketers can utilize the insights to formulate their marketing strategy. The survey of 2236 engineers and professionals was designed to gather measurable and actionable insight on what they think about their industries and work environments. The survey also includes exclusive analysis on two key segments of the engineering workforce: millennials and technical professionals in the electronics industry. Highlights from the research - PRESSURES: 55% of engineers say the pace of engineering is increasing; 53% are required to do more with less; 40% say that pressure to meet deadlines is putting product quality/rework at risk; Majority also say that designs are becoming more sophisticated and that design cycles are shrinking, while time-to-market pressures are increasing; 44% of companies have increased design involvement from external partners and vendors. MILLENNIALS: Marked differences between mindset of younger engineers vs veterans regarding information. Millennials are information hungry. Concerning information access, 24% of surveyed millennials say they are more likely to use video for educational purposes compared to a much smaller 14% of veteran engineers; While the majority (53%) of all engineers are willing to register on a website for access to specific documents, only 44% of millennials indicated such willingness; Younger engineers tend to believe all content should be free and openly accessible (52%). Read on...
A Look Into the Mind of the Engineer: For B2B Marketers
Author: Patrick D. Mahoney
Mohammad Anas Wahaj | 30 aug 2018
According to experts, effective use of data is key to B2B marketing success as it offers precision targeting, better customer experience and personalization at scale. Bernard Tan, APAC Regional Marketing Director at Red Hat, doesn't consider marketing as just B2B or B2C, but prefers it to be 'business-to-all'. He says, '(Data) is transforming the way that we talk to whole markets...it's transforming the way that we can actually have one-to-one conversations in volume markets, and be much more efficient about the way we go to that market...All of us are consumers...We are now at this position where we are now able to start to drive engagement at an individual level and really focus on the customer.' According to IBM's 2017 Customer Experience Index study, APAC (31) scored lower than other regions when it comes to data-driven customer experience in the B2B space [North America (35), Europe (33) and Latin America (33)]. Jodie Sangster, CMO liaison lead of IBM Watson, says, 'Unfortunately in APAC, we are lagging behind in terms of meeting consumer expectations of how we are using their data and delivering great customer experience.' Read on...
Data is key for B2B marketers, but APAC lags behind
Mohammad Anas Wahaj | 27 aug 2018
Apparel production is generally linked to environmental issues like water and air pollution, alongwith the land, water and pesticide use related to growing natural fibers. But now research points at the source of another problem created by apparels made wholly or partially from synthetic textiles. Microfibers, a type of microplastic, are shed during normal use and laundering, and remain in the environment similar to plastic packaging that coats so many of the world's beaches, and they bond to chemical pollutants in the environment, such as DDT and PCB. Moreover, the textiles from which they are shed are often treated with waterproofing agents, stain- or fire-resistant chemicals or synthetic dyes that could be harmful to organisms that ingest them. Also, microfibers are being consumed alongwith food and drink. Research review (Microplastics in air: Are we breathing it in? - Johnny Gasperi, Stephanie L. Wright, Rachid Dris, France Collard, Corinne Mandin, Mohamed Guerrouache, Valérie Langlois, Frank J.Kelly, Bruno Tassin) published last year shows that microfibers suspended in air are possibly settling in human lungs. Research led by Richard C. Thompson from the University of Plymouth (UK) in 2004 (Lost at Sea: Where Is All the Plastic? - Richard C. Thompson, Ylva Olsen, Richard P. Mitchell, Anthony Davis, Steven J. Rowland, Anthony W. G. John, Daniel McGonigle, Andrea E. Russell) documented and quantified the occurrence of microplastics in the marine environment. Research by Mark Anthony Browne, one of Prof. Thompson's graduate student, published in 2011 (Accumulation of Microplastic on Shorelines Woldwide: Sources and Sinks - Mark Anthony Browne, Phillip Crump, Stewart J. Niven, Emma Teuten, Andrew Tonkin, Tamara Galloway, Richard Thompson) found - (1) Samples taken near wastewater disposal sites had 250% more microplastic than those from reference sites and the types of microplastic fibers found in those samples were mainly polymers often used in synthetic apparel, suggesting the fibers were eluding filters in wastewater treatment plants and being released with treated effluent (which is released into rivers, lakes or ocean water). (2) A single polyester fleece jacket could shed as many as 1900 of these tiny fibers each time it was washed. Another 2016 study by researchers from UC Santa Barbara in US (Microfiber Masses Recovered from Conventional Machine Washing of New or Aged Garments - Niko L. Hartline, Nicholas J. Bruce, Stephanie N. Karba, Elizabeth O. Ruff, Shreya U. Sonar, Patricia A. Holden) has shown far higher numbers - 250000 fibers. Rosalia Project, a nonprofit focused on ocean protection, led a study of microfiber pollution across an entire watershed (from the mouth of Hudson River all the way to where the river meets the Atlantic in Manhattan). Rachael Z. Miller, group's director, was surprised to find that, outside of samples taken near treatment plants, there was no statistically significant difference in the concentration fibers from the alpine region to the agricultural center of New York state to the high population areas of Manhattan and New Jersey. This suggested to her that fibers might be entering surface waters from the air and from septic system drainfields in rural areas without municipal sewage systems. According to Textile World, demand for polyester has grown faster than demand for wool, cotton and other fibers for at least 20 years. And by 2030 synthetics are expected to account for 75% of global apparel fiber production, or 107 million tons. All textiles, including carpeting and upholstery, produce microfibers. So do commercial fishing nets. But due to the frequency with which apparel is laundered and the increasing quantities of clothing being purchased throughout the world (thanks at least in part to the so-called fast fashion trend), apparel is the microfiber source on which researchers and policy-makers are focusing attention. Krystle Moody, a textile industry consultant, says, 'Outdoor gear is heavily reliant on synthetic textiles due to their performance profile (moisture wicking) and durability.' Jeffrey Silberman, professor and chairperson of textile development and marketing with the Fashion Institute of Technology at the State University of New York, says, 'Price is the big driver behind the use of synthetics in textiles. A poly-cotton blend is generally far cheaper than a cotton one, but doesn’t look or feel appreciably different to most consumers. The motivation is to get natural-like fibers and still be able to get a price point that people are willing to pay.' Katy Stevens, sustainability project manager for the outdoor gear industry consortium European Outdoor Group (EOG), says, 'Initial research suggested that recycled polyester might shed more microfibers. Are we doing the right thing by using recycled polyester that might shed more? It has added a whole other big question mark.' Other studies have found microfibers in effluent from wastewater plants (Wastewater Treatment Works (WwTW) as a Source of Microplastics in the Aquatic Environment - Fionn Murphy, Ciaran Ewins, Frederic Carbonnier, Brian Quinn), in the digestive tracts of market fish (Ingested plastic transfers hazardous chemicals to fish and induces hepatic stress - Chelsea M. Rochman, Eunha Hoh, Tomofumi Kurobe, Swee J. Teh), throughout riversheds (Mountains to the sea: River study of plastic and non-plastic microfiber pollution in the northeast USA - Rachael Z. Miller, Andrew J. R. Watts, Brooke O. Winslow, Tamara S.Galloway, Abigail P. W. Barrows) and in air samples. Two separate studies released in March 2018 revealed that microfibers are found in bottled water sold all over the world. And a study published weeks later revealed that microplastic - chiefly microfibers - were present in 159 samples of tap water from around the word, a dozen brands of beer (made with Great Lakes water) as well as sea salt, also derived globally. Although most research has focused on synthetics textiles, but Abigail P. W. Barrows, an independent microplastics researcher who has conducted numerous studies on microfibers, says, 'Natural fibers such as cotton and wool, and semi-synthetics such as rayon should not be totally ignored. While they will degrade more quickly than, say, polyester, they may still be treated with chemicals of concern that can move up the food chain if the fibers are consumed before they degrade.' The study she led in 2018 (Marine environment microfiber contamination: Global patterns and the diversity of microparticle origins - Abigail P. W. Barrows, Sara E. Kathey, C. W. Petersen) found that in the surface water samples collected globally while 91% of the particles collected were microfibers, 12% of those were semi-synthetic and 31% were natural. Read on...
Mohammad Anas Wahaj | 29 jul 2018
According to the latest research by Stanford University business academics, Prof. Navdeep Sahni and Prof. Harikesh Nair, people are very good at distinguishing native advertisements from digital content, but the ads still exert significant influence on shopping behavior. Native advertisements blend with the digital content and closely match style and layout of the surrounding media. Regulators are often concerned regarding their deceptive sponsorship disclosure and the resulting misguided purchases by consumers. Prof. Sahni says, 'Native advertising is a relatively new form of advertising. Advertisers and publishers have embraced this because of the rise in mobile browsing behavior, and because banner ads are hard to implement on mobile screens, and are known to be not very effective.' Professors developed a field experiment in which they manipulated how native advertising for specific restaurants appeared on a restaurant search mobile app, creating two 'extreme' ad presentation conditions (no-disclure and prominent-disclosure) to compare to a more typical native ad. The study examined differences in how over 200000 users responded to the varied presentations and found that responses to typical native ads were similar to those in the full-disclosure condition. Prof. Sahni adds, 'We found that people who respond to the ad can spot this kind of advertising in its typical format...The effect of advertising seems to happen through direct exposure and can result in conversion even if people don't click on the ad itself.' The study suggests that because consumers who are more likely to be affected by ads can identify typical native ads easily, making the ads more prominent is unlikely to change people's behavior. For consumers, implications of the study are that even in a time of advanced analytics, ad exposure continues to have a deeply subtle, and thus harder-to-quantify, effect. Read on...
Mohammad Anas Wahaj | 26 jul 2018
Implementing an effective content marketing strategy with original content that stands out from competitors is a challenging task. Online content needs to be continuously updated, should be valuable to the audience and fulfil the required marketing goals. For this hiring a professional writer, full-time or freelance, is a good option. Professional writers can ensure that the content is more engaging, informative, credible, and persuasive. Following are ways in which he/she can contribute to the content marketing strategy - (1) Improve Search Engine Rankings: Professional writers understand search engine optimization (SEO) and create keyword rich copy. They have knowledge of the latest SEO trends and ensure that content meets the standards of search engine robots. (2) Save Money: Outsourcing content can be more cost effective. Companies using inbound marketing generally experience a 61% lower cost per lead than those using traditional methods (HubSpot). The average cost of hiring an in-house writer is US$ 7221 per month (Society for Human Resource Management). (3) Save Time: Creating quality content is time consuming. Outsourcing content as per requirement assists to focus in other essential areas of business. Moreover, multiple expert writers can be hired at the same time. (4) Meet Deadlines: Professional writers can work as needed and maintain schedule. (5) Boost Your Social Media Presence: Continuous stream of content can make businesses focus on their social media strategy, share content timely and create brand awareness. (6) Increase Conversions: The average web user leaves a web page after less than 20 seconds (Nielson Norman Group). Skillful writers can write persuasively to hold audience on website and increase conversions. (7) Communicate More Effectively: Professional writers can write in conversational tone and keep audience engaged. They communicate effectively about products and services keeping in mind the audience's perspective. (8) Deliver a Wide Range of Content Types: Different experts can be hired for providing different type of content. Read on...
Business 2 Community:
How Hiring a Professional Writer Improves Your Content Marketing
Author: Chris Reid
Mohammad Anas Wahaj | 24 jun 2018
Logos are a brief visual representation of what the brand is all about. They help brands connect with customers and a memorable logo make it easier to do so. According to Siegel+Gale's 2015 study, 'Logos Now', memorable logos are 13% more likely to get consumer attention and 7% more likely to make them want to learn more about the brand. Ross Kimbarovsky, founder of Crowdspring, runs one of the world's leading marketplaces for crowdsourced logo designs, web design, graphic design, product design, and company naming services. Following are five things he recommends all organizations to do before hiring someone to design (or redesign) their logo for optimal results - (1) Your brand has to come before your logo: 'Your logo must derive meaning from your brand, not the other way around. Before a logo can communicate anything about your brand, you will need to better understand your brand. What values, practices, benefits, products or services set your company apart and make it unique?' (2) Assess what styles you like and don't like: 'New design trends and fads in logo design appear every year and not all designers can effectively incorporate popular trends and avoid the fads...Spend some time looking at various styles and build up a list of what you like and don't like.' (3) Decide what you are willing to pay: 'Pre-made logos is a terrible idea that will actually harm your business in the long run...it's not possible for a client to get a great logo for less than several hundred dollars. There's simply not enough incentive for a designer to spend time creating a custom design unless they get a reasonable fee for their work.' (4) Write a stronger 'project brief': 'The project brief can make or break a project...Most designers have limited time to do their work, so they will be picky when choosing which clients to work with...Help designers understand how you see your company or your products...Define the problems and define your goals: designers are problem solvers.' (5) Decide who will make the final branding decision: 'One person should own this process and be able to make the final decision...Pick a group of 2 or 3 people whose opinions you trust, whether in-house or not. In fact, people outside your company can often be better at this than insiders.' Read on...
Mohammad Anas Wahaj | 23 jun 2018
Food waste is a global concern and innovative solutions are needed to overcome it. Recent data from National Resources Defense Council found that the average American throws out 400 pounds of food a year, meaning that up to 40% of food grown on the farm bypasses the fork and ends up in a landfill. Globally, impact of food waste can be seen in terms of lost resources, wasted water (70% of fresh water is consumed in agriculture), increased levels of climate-change-producing gases, and diverted food that could contribute to alleviating hunger. According to the Food and Agriculture Organization of the United Nations (FAO) - It is estimated that annually over 60 trillion gallons of water are used to grow food that is ultimately wasted; Roughly 1/3 of the food produced for human consumption every year - approximately 1.3 billion tons - gets lost or wasted, representing nearly US$1 trillion. The cost of producing, harvesting, transporting, and disposing of this food isn't just financial - food waste accounts for about 8% of global climate pollution, more than the nations of India or Russia. According to one report, food waste throughout the US accounts for more than 60 million tons of waste, which translates into US$ 160 billion of produce and, according to the Environmental Protection Agency (EPA), represents over 21% of all waste in landfills. Adequate government policy alongwith solutions from for-profit and nonprofit sectors can successfully tackle this challenge. Sherri Welch, writing in Crain's Detroit, highlights two food-box subscription companies that sell produce and other food that retailers won't touch in the Detroit market. One is the Baltimore-based Hungry Harvest; the other is Toronto-based Flash Food. They are both for-profit companies. Denver's We Don't Waste is a nonprofit working on similar lines. Other nonprofits are working with hunger relief organizations and give their customers the option to buy a box of imperfect produce and donate it to a family in need. Phillip Knight, executive director of the Food Bank Council of Michigan, says, 'At this point, I think we are all working together to feed hungry neighbors, reduce waste and lessen the impact on the environment.' Other solutions include processing food waste as bioenergy. In the Pacific Northwest, Impact Bioenergy develops and manufactures bioenergy products that allow communities and commercial food waste generators to lessen their environmental footprint and conserve local soil resources while also reducing their waste disposal and energy costs. Policy approaches can also play an important role to shift the amount of food entering the waste stream. A May 2017 paper published by Harvard Law School's Food Law and Policy Clinic looks at the 2018 Farm Bill as a portal for changing the national conversation on food waste by integrating strategies and initiatives to support diversion efforts. Policy is a major focus on ReFed, one of the nation's leading nonprofits dedicated to addressing food waste. One of their initiatives in partnership with the Food Law and Policy Clinic is the US Food Waste Policy Finder, a tool that provides research on current food waste policy. Another promising approach is to incorporate the reuse of food that has been rejected by the conventional market into social enterprises. DC Central Kitchen is a job-training catering social enterprise that buys food seconds from farmers and uses that produce in the meals it serves to students in schools and catering event guests, even as the nonprofit also addresses the cycle of hunger. According to ReFed's 'Roadmap to Reduce US Food Waste by 20 Percent', an estimated 15000 permanent jobs could be created through policy initiatives alone. 'Wasted! The Story of Food Waste', a documentary produced by the late Anthony Bourdain, offer a glimpse of ways that nonprofits can expand their missions and collaborate with others to reduce food waste while improving the health and well-being of those in need. Read on...
For-Profit and Nonprofit Firms Devise Creative Ways to Reduce Food Waste
Author: Derrick Rhayn
Mohammad Anas Wahaj | 23 jun 2018
Team of researchers (Prof. José Antonio Rosa of Iowa State University; Prof. Richard J. Vann of Iowa State University; Prof. Sean M. McCrea of University of Wyoming) conducted five experiments to understand how crisis influences motivation and commitment to the goal. Their research titled 'When consumers struggle: Action crisis and its effects on problematic goal pursuit' was recently published in the journal Psychology & Marketing. Prof. Rosa, the lead researcher, says, 'Setbacks are to be expected when pursuing a goal, whether you are trying to lose weight or save money. The challenge is getting back on track and not giving up after a difficulty or crisis.' The research team is working on practical ways to help people stick to health-related goals - specifically, prescribed regimens for medical ailments that require significant lifestyle changes. According to Prof. Rosa, staying committed to a long-term health goal is challenging, because it may feel as if there is no light at the end of the tunnel. He explains, 'These are some of the most difficult goals we face, because the effort has to become a way of life. If you're a diabetic, you have to be thinking about your diet every time you eat. In many ways, it is sacrificial. You must endure this cost and the reward is health.' Prof. Rosa says that action crisis, whether related or unrelated to the goal, is a point during goal pursuit when circumstances change, causing us to question whether the goal really matters. This sets in a process of goal evaluation instead of implementation and can result in the decision to quit, termed by researchers as 'taking the off ramp', and may cause another crisis. Researchers are now working to develop and test interventions for patients on prescribed health regimens. Prof. Rosa says the goal is to provide specific instructions for patients to follow and help shift their mindset from renegotiation or evaluation back to implementation. He adds, 'From a marketing perspective, it is an issue of consumption and making health care more effective for patients. The right intervention will help patients stay on track, lessening the risk for additional health issues and lowering health care costs.' Read on...
Iowa State University News:
Crisis can force re-evaluation and derail efforts to reach goals
Author: Angie Hunt
Mohammad Anas Wahaj | 22 jun 2018
According to Korn Ferry's 'The Salary Surge' report, India would be the only economy that will not face an upward revision of wages by 2030, as it has a talent surplus, bucking the global trend of a talent crunch. For organizations around the world lack of highly skilled talent supply will drive up salaries for the most in-demand workers and is expected to add more than US$ 2.5 trillion in annual labour costs by 2030. The Global Talent Crunch analysed global demand for labour at three key milestones, 2020, 2025 and 2030, in 20 markets, including in India, across three sectors, financial and business services, technology, media and telecommunications (TMT) and manufacturing. Wage premiums by 2030 - US (US$ 531 billion); Germany (US$ 176 billion); Japan (US$ 468 billion); China (US$ 342 billion) Asia Pacific (US$ 1 trillion); Singapore and Hong Kong (10% of 2017 GDP). Wage premium per worker per year by 2030 - Asia Pacific (Average US$ 14710); Hong Kong (US$ 40539); Singapore (US$ 29065); Australia (US$ 28625). Dhritiman Chakrabarti, Head of rewards and benefits for the APAC region at Korn Ferry, says, 'The new era of work is one of scarcity in abundance, there are plenty of people, but not enough with the skills their organisations will need to survive. While overall wage increases are just keeping pace with inflation, salaries for in-demand workers will skyrocket if companies choose to compete for the best and brightest on salary alone.' Manufacturing, one of the sector that is a critical driver of growth for emerging economies, may be stalled by the huge impact of the salary surge. Read on...
The Economic Times:
India to be lone economy facing suppressed wages by 2030: Study
Mohammad Anas Wahaj | 28 may 2018
Consistent communication through various channels both internally and externally is the key for successful public relations. Eileen Sheil, ED of Corporate Communications at Cleveland Clinic, shares her PR experience and suggests key elements that PR teams should be focused on. Regarding her PR strategy at Cleveland Clinic, she says, 'We are trying new communication approaches that better reach our target audiences through the media and to our key stakeholders. Sharing our stories internally and externally about patient care, innovative procedures, medical research, opinions on important healthcare issues, and breaking news will help people know more about the work we do to help patients locally, nationally, and around the globe.' Following is her advice for PR teams - (1) Be Strategic About PR: Know the organization and industry; Know the company's narrative and be consistent in your communication; Conduct reputation research and develop a PR strategy; Know your audience; Research and alter strateg as needed. (2) Go Digital: Traditional media is essential but amplify the communication through latest digital technologies. (3) Measure The Value Of PR: The Barcelona Principles (initially developed in 2010 and updated in 2015) are used to measure the real value of PR; Focus on qaulity of coverage to build better reputation; Learn to use metrics, data and analytics to drive strategy. (4) Be One Communications Team And Build One Strategy: Internal and external communications are merging; Be consistent to all shareholders. (5) Know This Is A Journey: Teams should continue to evolve, learn and make their work better together. Read on...
Mohammad Anas Wahaj | 26 may 2018
Traditionally, businesses have been using corporate social responsibility (CSR) to contribute to society and tackle social issues through philanthropy, charitable giving, offering employees volunteer time etc. Recently, a letter to shareholders by an influential investor, Larry Fink, CEO of BlackRock, rekindled the debate around purpose and effectivenesss of CSR. His messages was, 'To achieve their full potential, public and private companies need to do more than simply give of their time and money; they need to find more innovative and impactful ways to contribute to solving the broader challenges in society.' Katie Bouton, Founder and CEO of Koya Leadership Partners, explains the need to better integrate business goals with public purpose and balance financial obligations to shareholders. This can be achieved through 'Purposeful Engagement', a more impactful CSR strategy. Ms. Bouton suggests the key elements to integrate into this new operating strategy - (1) Articulate a Larger Purpose: Howard Schultz, CEO of Starbucks, described their larger purpose as, 'Coffee is what we sell as a product, but it's not the business we're in. We're in the people business.' Steve Jobs, Founder of Apple, often talked about the company's larger mission of making high quality computers available to everyone. (2) Align Business Goals with Social Purpose: Larger purpose should be designed and implemented in a way that is integral to business success. Every employee should be engaged with larger mission. Measurements should be developed for every department and business line. (3) Integrate Resources to Maximize Impact: Lack of coordination and integration wastes resources. CSR efforts are often siloed in differenet departments. All departments should work together for a common purpose. (4) Build a Diverse and Inclusive Team: A McKinsey study showed companies with higher-diversity leadership teams and boards have 30% more success than those that don't. (5) Understand the Future Workforce: Millennials will make up over 50% of the workforce by 2020, according to PwC. Values and purpose are priorities for them. Purposeful Engagement becomes vital to attract and retain the talent for future. Read on...
Beyond CSR - Leading With More Purposeful Engagement
Author: Katie Bouton
Mohammad Anas Wahaj | 23 may 2018
Utilizing customer data to understand consumer behavior through analytics tools is key to improve products and services, and finally gain and retain customers. Restaurant and fast food industry is customer intensive with direct interactions with them. Restaurant sales were approximately US$ 800 billion last year and continue to grow. With hightened competition and increasing customer expectations it becomes challenging to serve what customer wants and keeps coming back for more. Advanced analytics can come to the rescue in this regard. Quick Service Restaurant (QSR) industry has low average ticket value, customer visit frequency is higher and cyclical, size of the meal matters and customer tastes don't vary that much. The restaurant industry's main goals remain - increase meal size, increase guest frequency and decrease customer lapsation. In today's environment, customers are digital-savvy and restaurants have their data. The value is in gaining actionable insights from this data that positively impact the Net Promoter Score (NPS). Here is what some restaurant chains are doing in this regard - (1) Identified taste affinity clusters: Created various segements of customers and looked at their past purchase behavior to identify taste preferences. (2) Buying behavior analysis: Looked at purchase behavior across different channels to identify which menu items can be added to the combo for someone that orders (mobile vs visit). Used advanced analytics to get a single view of the customer by integrating their POS, mobile, web and social data to identify the customer and hence provide consistent messaging. (3) NPS and Feedback Analysis: Integrated feedback received across all channels and layered it up with sentiment analysis. Customers were given lapsation score and offers were targeted accordingly. (4) Store location analysis: Used predictive models to identify the probability of a new store succeeding in a specific location vis-à-vis another store in the same area. They identified pockets of demand and the model prescribed a set of potential locations in a given geographic area. This data was used to score and rank comparable locations. Read on...
Mohammad Anas Wahaj | 30 apr 2018
Artificial Intelligence is one of the fields that's getting most attention from technology companies. AI researchers specialize in neural networks, complex algorithms that learn tasks by analyzing vast amounts of data. They are used in everything from digital assistants in smartphones to self-driving cars. Those with AI skills are in high demand. But, the salary data related to AI hires hasn't been in public domain. Now OpenAI, a nonprofit AI research organization, had made the salaries of their AI researchers public as their nonprofit setup requires them to do so. Top OpenAI researchers were paid as follows - Ilya Sutskever (more than US$ 1.9 million in 2016); Ian Goodfellow (more than US$ 800000 after getting hired in March 2016); Prof. Pieter Abbeel of University of California at Berkeley (US$ 425000 after joining in June 2016). OpenAI was founded by Elon Musk (CEO of Tesla) and other well-known names in technology. Element AI, an independent lab in Canada, estimates that 22000 people worldwide have the skills needed to do serious AI research - about double from a year ago. Chris Nicholson, Founder & CEO of AI startup Skymind, says, 'There is a mountain of demand and a trickle of supply.' There is scarcity of AI talent. Governments and universities are also seeking AI researchers, even though they may not match the salaries paid by private enterprises. OpenAI too cannot compensate equivalent to private tech companies as stock options are major attraction there. But OpenAI shares its research with the world, considered a positive approach in responsibile tech development. Mr. Sutskever says, 'I turned down offers for multiple times the dollar amount I accepted at OpenAI. Others did the same.' He expects salaries at OpenAI to increase as the organization pursued its 'mission of ensuring powerful AI benefits all of humanity.' AI specialists with little or no industry experience can make between US$ 300000 and US$ 500000 a year in salary and stock. Wojciech Zaremba, a researcher who joined OpenAI after internships at Google and Facebook, says, 'The amount of money was borderline crazy.' He says that tech companies offered 2 or 3 times what he believed his real market value was. At a London AI lab now owned by Google, costs for 400 employees totaled US$ 138 million in 2016. Top researchers are paid higher. Mr. Nicholson says, 'When you hire a star, you are not just hiring a star. You are hiring everyone they attract. And you are paying for all the publicity they will attract.' Other top researchers at OpenAI included Greg Brockman and Andrej Karpathy. In a growing and competitive tech field like AI it becomes challenging for organizations to retain talent. Read on...
The New York Times:
A.I. Researchers Are Making More Than $1 Million, Even at a Nonprofit
Author: Cade Metz
Mohammad Anas Wahaj | 29 apr 2018
According to Big Commerce, 51% of Americans prefer to shop online, and almost everyone (96%) has made an online purchase in their life. But, with so many competing e-commerce websites and a large number of brick-and-mortar retail stores, the challenge for retailers is to differentiate themselves and, attract, acquire and retain the customers. Retailers can do the following to increase retail sales - (1) Run Beautifully Executed Google Shopping Campaigns: Organize shopping campaigns by best-selling items; Ensure your ad images are high-quality and crawlable; Include merchant promotions and product reviews. (2) Give Shoppers a Reason to Visit Your Store: Provide special in-store discounts to shoppers; Use the power of social media to communicate special in-store deals. (3) Use Social Media Targeting Capabilities to Your Advantage: Configure your social media campaign with detailed targeting to audience who will be most willing to buy the products. Targeting to right demographics is the key. (4) Don't Forget to Be Locally Relevant: Geotargeting; Ad copy and imagery with local appeal; Use local lingo. (5) Invest in Some Guerilla Marketing Campaigns: Use public places innovatively to attract attention and spread the word around. (6) Try Podcast Advertising: According to Edison Research, 67 million Americans listen to podcasts monthly, which is a 14% year-to-year increase. Discover your audience's choice of podcasts and invest in running some advertisements to sponsor the commercial breaks. (7) Get Creative with Video: Use entertainment as a strategic tool in video to attract audience. Getting it viral is a challenge that every creative should take. (8) Celebrate All the Little Holidays: Embrace holidays and link your campaigns to them; Release special limited-edition products around them, run special events, or offer deals in festive holidays colors, it gets people excited. (9) Instill a Sense of Urgency: Urgency in messaging can pressure audience to shop; Run short-term limited-time offers and discounts. (10) Understand Your Seasonal Peaks and Plan Accordingly: Do advance planning for seasonal peaks. This includes adjusting ad spend, working with design for new creative, and executing seasonally relevant campaigns that will boost sales during these peak times. (11) Create Returning Buyers through Smart Remarketing: Remarketing allows you to remind shoppers, re-engage them and assist them in buying again; Think about the lifespan of the product that a customer have bought. Run a remarketing campaign and encourage to buy before the product is finished; Another remarketing tactic is to upsell based on the products customers have previously purchased. Read on...
Business 2 Community:
11 Killer Retail Marketing Tips to Drive Sales Year Round
Author: Margot da Cunha
Mohammad Anas Wahaj | 28 apr 2018
For the betterment and growth of any local industry, it is imperative that global best practices should be emulated and, modified and customized based on the local needs. Pratyush Sarup, interior designer based in Dubai (UAE), provides key insights from Milan Design Week 2018 for Middle East region - (1) The Power Of Simplicity: Prefer clean lines and minimal materiality in design. An installation by American artist Phillip K. Smith III portrays simplicity principle with use of only one material - glass. Applied along clean angles and a humble curve, the reflective surface offered a kaleidoscopic play on light, form and structure. (2) Divine Expression: History, culture, folk tales, nature etc can be inspiration for design. A collection of chairs by designer Lara Bohinc sought inspiration from the skies above. Aptly titled 'Since the World is Round', the spherical form that characterises the collection is derived from gravitationally curved trajectories of planetary and lunar orbits. Dubai-based designer Talin Hazbar has previously turned to 'Kahf al Baba', a folk tale that originates from villages between Khor Fakan and Fujairah for a lighting collection. (3) The Circular Life Of Design: Understanding sustainability is necesssary for the continued growth of design market. Innovative waste management solutions to waste generated by the textile design industry is at the heart of 'Really', a Danish company. They debuted their latest invention, the 'Solid' textile board. Developed from upcycled end-of-life fabrics from the fashion and textile industries, it's potential was showcased via a range of products created by top designers such as Benjamin Hubert, Christien Meindertsma, Front (Sofia Lagerkvist and Anna Lindgren) and Raw-Edges (Yael Mer and Shay Alkalay). Designers can think about finding ways to repurpose waste into contemporary living solutions. (4) Join Forces: Collaboration is key to better outcomes. New York designer Lindsey Adelman and wallpaper maestro Calico (Rachel Cope and Nick Cope), as they were both working with similar surface techniques, decided to work together and presented a joint show 'Beyond the Deep' that explored the corrosive natural chemicals, like salt, to alter the appearance of surfaces. Coming together of diverse thought processes and creative expressions can fast-track creative economies. (5) Have Some Fun: Many top tier brands stepped away from their typical business-oriented presentations to explore alternative out-of-the-box ideas. Czech glass brand Lasvit took over Teatro Gerolamo, a 19th-century puppet theatre to present Monster Cabaret, its latest collection of accessories centred on mythical beasts, fantastical creatures and outcasts. Read on...
Mohammad Anas Wahaj | 23 apr 2018
Business-to-business world have a different set of rules and dynamics than business-to-consumer when it comes to branding and how interactions happen with prospects and customers. Ryan Gould, VP of Strategy & Marketing Services at Elevation Marketing, explains how B2B world is fragmented, challenges related to inconsistency in branding and what can be done to improve, enhance and control it. He explains, 'The role of the B2B buyer has evolved along with the rest of the world, and importantly, power has gradually shifted to the hands of millennials. Despite 73% of millennials making purchasing decisions, we are still seeing the world of B2B approach these individuals as if they are the same buyer from 5, 10 and even 20 years ago.' Millennials are the new B2B buyers and B2B marketing had to evolve accordingly. Emphasis on branding and brand building becomes critical. Marketing efforts should be aligned, whether it is social media, email marketing, sales collateral, video etc, and focus on addressing the need of potential buyers and differentiate effectively from competition. Sales-driven nature of B2B sector still holds supreme with marketing becoming secondary to it. But with new buyers sales pitch is not sufficient and they seek better connect with brands they deal with. B2B marketers have to understand this dynamic to build strong business relations. B2B marketers also face challenges related to their budget and lack resources to accomplish all their tasks and had to shuffle between various roles. This gives them insufficient time to focus on brand strategy and to build an overall brand value. Fragmented nature of B2B business adds to the chaos with various departments working in silos. Branding consistency in this environment becomes a challenge and customers get confusing inputs. The brand in this scenario lacks uniformity in content, design and messaging. According to HubSpot, only 50% of B2B marketers are treating visual content as a priority. Marketers have to work on this and fully utilize the power of digital and develop creative strategies to have a better connect with millennial decision-makers. B2B organizations must prioritize branding as their target consumer market is sensitive to it. One statistics suggests that 23% of average revenue increases are attributed to brand consistency. B2B marketers should play their role accordingly - understand target audience, recognize the importance of branding, realize where brand is falling short and develop better brand consistency by using latest tools and solutions to have a connect with customers and establish trust. Read on...
Why is inconsistent branding so prevalent in B2B organizations?
Author: Ryan Gould
Mohammad Anas Wahaj | 26 mar 2018
Corporates often fund nonprofits to fulfil their commitments and responsibilities to the communities they operate in, and also to enhance their brand value and achieve a positive public relations. But, since the funds are limited and there are number of competiting nonprofits, corporates seek best value and return on their giving and investments. Nonprofits have to find ways to differentiate themselves and give an attractive proposition as part of their corporate fundraising effort whether they are considering cause sponsorship, 'pin-up' or point-of-purchase campaigns, corporate volunteering/employee engagement or cause marketing. Chris Baylis, president and CEO of The Sponsorship Collective in Ottawa (Canada), suggests ways to consider for successful corporate fundraising - (1) Corporate partnerships are not just philanthropy. Think beyond the good cause, clearly define your audience and understand the value of your brand. Determine the interest and buying power of your audience. (2) Use your cause to attract (and define) your audience and your audience to define and attract prospects. Use the cause as a valuable link to connect your audience and prospects. (3) Make your value known to the prospects and list every single asset you have to offer. Estimate the cost of similar exposure and services that prospects can avail elsewhere. Understand the value of your audience. (4) Logo placement, although more visible to the public, is just a small component of cause partnership. Think more of real value and outcomes. (5) Share fulfillment report with your partners and how it is tied to their goals. It explains the value they got in return, satisfies internal decision makers, helps in renewal of contract and build long-term partnerships. Read on...
Mohammad Anas Wahaj | 23 mar 2018
Basic principles of business success remains the same, but with time new ideas, concepts and rules become game changers and critical to its success. Inspired by David Politis's book '66 Rules for Publicity Success', Sheryl Conner, entrepreneur, author of 'Beyond PR: Communicate Like A Champ In The Digital Age' and co-creator of Content University, explains how public relations has transformed and brought in new dynamics while some of its concepts remain the same. THE NEW - (1) New publishing platforms give more freedom to publish and provide metrics and analytics about how much interest and engagement the content has created. (2) Know the rules of publishing on varied platforms and understand the difference between owned (company blog), earned (national journals and publications), leased and rented (social media platforms) publishing space. (3) Search results are the greatest ally (and one of the most significant risk). (4) Visual content is becoming increasingly important. Text content with video/audio and compelling images provides effective multimedia experience to the audience. (5) Customer feedback is equal (or more) important to purchases than traditional analyst views. THE USUAL - (1) Press releases are still important. (2) Value add educative information for your audience is more valuable than promotion and hype. According to Conductor.com, a consumer is 131% more likely to purchase from a vendor who publishes an educational article they have read. (3) Meaningful and consistent messaging is vital. (4) Authenticity is more important than ever before. (5) Earned media is important. Remember what others say about your company is more valuable and add to reputation, than what you say yourself. Read on...
Mohammad Anas Wahaj | 28 feb 2018
Measurement and analysis of marketing data is becoming critical for understanding the effectiveness of marketing initiatives. The insights help in focusing efforts and money in the right direction. Marketing analytics tools and technologies continue to advance. David Sanderson, CEO of Nugit, explains what will be driving marketing analytics in 2018 and how marketers can keep pace with them - (1) Marketing analysts will need to use many new data sources: Combining data from internal data repositories with other sources like Google Analytics, SEO platform, CRM, Email, Social Media, Chat applications etc will provide better insights that will help to drive consumer interest, optimize pricing, and deliver an improved customer experience. Now analysts must also identify where important data resides, determine what needs to be extracted and devise a strategy for using new data sources to drive business decisions. (2) Artificial Intelligence (AI) will be essential for analytics: Speed of incoming data in large volumes make it difficult for human data analysts to process it effectively. In such a scenario, machine learning and AI tools come to the rescue and help analysts find patterns in customer data, elicit recommendations for optimizing performance, and allow non-professionals to access complicated analytics using simple language. (3) Analysts will become storytellers: Usual data analyst skill like SQL, Excel, business analysis etc, crunching data and making reports will not suffice now. Analysts have to do more - Obtain data from non-traditional sources; Clean data with programming languages such as Python; 'Polish' the data using data visualization tools and create attractive charts and graphs; Transform data into easy-to-understand stories which help non-analysts understand emerging trends and opportunities. Read on...
The three trends driving marketing analytics in 2018
Author: Jeff Rajeck
Mohammad Anas Wahaj | 27 feb 2018
As with most technology and design trends, there is always something new happening in web design intended to capture the imagination of the audience. Experts in the field suggest the following trends that will dominate 2018 - (1) Paul Jarvis (Designer; Writer; pjrvs.com): Bright and bold minimalism and engaging photographic content. (2) Jane Portman (UI/UX Consultant; Book Author; Founder of Tiny Reminder; Co-founder of Userlist.io): Polished web applications. High-end aesthetics need to get more affordable for SaaS founders globally. As SaaS craftsmanship gets more refined, another wave of frameworks and ready-made UI solutions are expected. (3) Josh Haynam (Co-founder of Interact Quiz Builder): Interactive content. Customers expect more personalized and entertaining experience when they interact with brands, that can inturn be delivered by content like polls, quizzes, and games. (4) Vytautas Alech (UX Designer; Product Developer): Asymmetry and brutalism inspired free-form. (5) Alexey Galyzin (Product and Lead Designer at Crello): Illustrations and animations. Illustrations set a tone for a brand and add playfulness to their content. While, animations allow one to translate more information in an efficient way, driving attention and helping to tell a story in a few seconds. (6) Paula Borowska (Freelance Designer): Consistency and focus on understanding the end users. More user research and interviews to understande target audience. More consistency of the message across all channels. The tone, the company message, the language used, the visuals etc need to stay the same. It increases customer loyalty. (7) Sunil Joshi (Co-founder and Lead Designer at WrapPixel): More video, fluid shapes, use of gradients, animated CSS and typography. Videos are becoming part of a brands presentation and communication. Videos can deliver a great deal of information quickly and visually. Read on...
Mohammad Anas Wahaj | 26 feb 2018
As streaming video services on internet get popularity, advertising on television is seeing a decline. Now advertisers are shifting their dollars towards digital. In 2016, US revenues from digital advertising exceeded revenues from TV for the first time - US$ 72.5 billion (+22%) compared to US$ 71.3 billion from TV. This trend is also reflected in global markets. Some corporates are even focusing solely on digital advertising. The young (13 to 24 years age) are showing less affinity towards traditional advertising as they spend more time on Internet in comparison to TV. Only 36% of consumers noted that they cannot do without a TV screen. Meanwhile, 67% cannot imagine their lives without YouTube and 51% seem to lose meaning in life without Netflix. The same audience is watching 2.5 times more internet videos than traditional TV. Video-bloggers are the new influencers for the young population as they advocate brands and products while sharing their experiences with them in the form of effective video presentions. Video bloggers are becoming a guaranteed way for advertisers of reaching target audiences and getting predictable results. Influencer marketing is becoming more relevant. Return on investment from online videos is 77% more than from TV promos. The main trend nowadays is native advertising through opinion leaders. Traditional advertising is slowly getting outdated and a personalized Internet, along with personalized advertising, is becoming the real future. Read on...
The Next Web:
Advertising in the digital age - Why online-first is the future
Author: David Geer
Mohammad Anas Wahaj | 23 feb 2018
Diversity and inclusion can be key to unlocking new ideas in creative disciplines. Current statistics suggest massive underrepresentation of minorities in design sector. According to the 2016 AIGA (American Institute of Graphic Arts)/Google Design Census, 73% of graphic designers are white, 8% are Asian, 7% are Hispanic, and 3% are African-American. This doesn't mirror the U.S. population, which, according to the 2016 U.S. Census, is 17% Hispanic, 13% African-American, and 5% Asian. Jacinda Walker, chair of AIGA's Diversity & Inclusion Task Force, is working to encourage diversity in design education, discourse, and practice. She is also founder of designExplorr that creates opportunities that expose youth to design. Her MFA thesis, 'Design Journeys: Strategies for Increasing Diversity in Design Disciplines' presents strategic ideas to expose African-American and Latino youth to design-related careers. She provides actionable steps that can be applied for building diversity in design fields - (1) Develop a Diversity Plan: Assess requirement. Set specific goals. Develop strategy. Evaluate. Read 'Designing for Diversity: Gender, Race, and Ethnicity in the Architectural Profession' by Kathryn H. Anthony. (2) Recruit Talent from Different Places: Seek niche online recruiting platforms that cater to underrepresented communities. (3) Hire Diverse Interns: Interns are potential employees. Target minority colleges to get them. (4) Use Diverse Imagery: Use diversity in marketing materials and website to attract minorities. (5) Visit a School to Talk about Design: Design educators emphasise the value of interaction of design professionals with students. (6) Mentor: Regularly meeting high school or college students to provide advice, guidance, and portfolio reviews is a necessary commitment. (7) Job Shadow: Allow students to come into the working environment so that they can observe, experience and learn in a professional setting. (8) Support Minority Business Enterprises: Build relationships with minority businesses and support them. Search them through special directories and databases. (9) Expand your Social Networks: Join various social media networks and explore special groups that focus on minority designs and designers. (10) Travel: Travel extensively and explore diverse cultures. It expands thinking and provides different perspectives. It builds emphathy and enhances creativity. Read on...
10 Steps To Increase Diversity In Design Right Now
Author: John Clifford
Mohammad Anas Wahaj | 27 jan 2018
Confluence of sales and marketing is not often seamless. It brings challenges and creates conflicts. Business leaders keep them in silos to avoid friction. But if done effectively, collaboration between the two can bring more benefits and success, saving time and money, and yielding more leads and conversions. Following are ways in which this collaboration can be achieved - (1) Buyer Personas: Both sales and marketing have information about customer segments they serve, albeit from different sources. By sharing the two they can have much better understanding of customers. Together, they can create a precise description of the buyer personas. These descriptions generate personalized content and service delivery. (2) Timing: When the messaging and content is shared is the key to its effectiveness. Through collaboration, marketing can utilize the feedback that sales team receives from customers and time their campaigns, and plan for future strategy accordingly. On the other hand, sharing marketing strategy schedule with sales will help them know when to follow-up with prospects. (3) Content Developent: When sales team creates content it takes away their valuable time from their critical sales activities. By collaboratively developing content, sales and marketing can pool in their strengths and expertise, and focus on customers effectively. This will give sales the content they need and marketing a blueprint to create high value content that inturns generate more leads for sales. (4) Proposals and Agreements: There are software platforms that can help marketing and sales collaboratively create documents like proposals, agreements etc. According to James Kappen, CEO and Founder of Proposable, 'Marketing can go a long way to taking some of the tedious work off the shoulders of the sales team. This includes generating branded proposals with consistent formats and messaging based on the insights the sales team shares with them. That way, marketing can use its expertise in branding, corporate identity, and value-focused content to deliver a more compelling proposal to the sales team to use. The shared information and understanding of the potential buyer elevate the relevancy and engagement that the proposal can offer, enabling more conversions.' Similar tools like Eversign provide the collaborative platform marketing and sales need to work together effectively. The result is that documents can be created, revised, signed and shared between those within the company and the prospect. (5) Analysis: End of the sales cycle can also bring collaborative benefits. Working together of marketing and sales blurs the process of attracting and acquiring customers, thus making the analysis of the role each played in the process difficult. Hence, it becomes beneficial to analyze lead generation data together. This gives everyone opportunity to find out how they are contributing to the whole process and generate the necessary return. Read on...
Mohammad Anas Wahaj | 17 jan 2018
Design evolves with time and new trends become visible accordingly. Here are 5 design trends that are expected to make a mark in 2018: (1) Explained Algorithms: For the last couple of years artificial intelligence (AI) and machine learning have been most talked about in technology. Tech companies often kept the algorithms secret as protected IP. But now, considering the role of AI in serious decision-making situations, the need for openness and transparency in algorithms is becoming necessary. In this regard, AI community initiated the field of computer science termed as 'Explainable AI (XAI)'. David Gunning of Defense Advanced Research Projects Agency (DARPA) is building a system on XAI. This new field commits itself to make algorithms more accountable as their use involves sensitive user data. XAI expects to ensure that the relationship between technology and users is built on trust by explaining the working of AI and machine learning in critical decision-making. (2) Less Minimalism: Anti-consumerist in principle and aesthetically pleasing in practice approach to design, called minimalism, that has been at the forefront of design through lifestyle tidying guru Marie Kondo's life-changing concepts, will see a shift. More color and bolder concepts will bring new freshness. In home decor world, companies have replaced cleaned-lined Scandinavian design with chunky, gilded, colourful pieces. Online, people are celebrating ugly design with Tumblrs and Instagrams dedicated to a glittering and gaudy aesthetic. (3) Optimal Use of Technology: Excessive use of technology, specifically social media, has started taking its toll. User well-being is the new technology design mantra, as compared to the user time-spent. The idea is to build apps and technology that quietly augment our lives, not commander it. Some people who are propagating this 'Calm Tech' movement are former Xerox Parc employees Mark Weiser, Rich Gold, and John Seely Brown, who literally wrote the book on calm tech. Tristan Harris, an ex-Google ethicist, is also attempting to loosen technology's excessive grip on our attention spans through technology and app re-design. (4) No More Boring Hardware: New trends are beginning to surface in technology product design hardware, as compared to the typical - cold glass, shiny plastic, blunt shapes. Gadgets are now an inherent part of our living spaces and how they are designed influences the look and feel of our living environment. Some examples in this direction include Google's new smart speakers that were covered in a layer of soft polyester that came in white, grey, and a warm salmon hue and Microsoft Surface Pro tablet with a keyboard covered in teal and maroon Alcantara, the stain-resistant fabric that's used in luxury vehicles. (5) More Inclusive Design: Earlier products were often designed for an average user with a concept - 'If you design for everyone, you'll exclude no one.' But it is now changing and 'Inclusive' design ideas are becoming prominent. Companies like Microsoft and Google are developing a new design process that considers the problems of underserved populations as a lens for designing more thoughtful products and experiences for everyone. The idea is that by building products that are accessible to people with special needs, you're building better products. Read on...
5 Design Trends We'd Like To See More Of This Year
Author: Liz Stinson
Mohammad Anas Wahaj | 29 dec 2017
Marketing continuously evolves, and there is always something new for marketers to test, experiment and validate, and bring it to mainstream, whether it be ideas or technologies. Here are expert predictions for 2018 - (1) Zoe Burns-Shore (Head of Brand & Marketing, First Direct): 'Hopefully, more companies will start to realise digital marketing and marketing are one in the same, and the joy of all of that is seeing how everything works together, not in channel-led silos.' (2) Rachel Bristow (Director of Client Partnerships & Collaboration, Sky Media): 'It's no longer enough for brands to be passive about their brand identity as consumers are expecting more from the brands they engage with. Often this means taking a political viewpoint in order to be relevant and engaging...Although having a political voice can elevate a brand's purpose, it comes with a host of reputation risks which brands need to carefully consider. CSR also helps align a brand with a purpose while mitigating some of those reputation risks of being politically vocal.' (3) Harry Lang (Marketing Director at Online Sportsbook Pinnacle.com): '...I'm going with eSports...Now it's getting organised and brands are paying over the odds to jump on the bandwagon - the trend lines suggest it's only going to get bigger.' (4) Aedamar Howlett (Marketing Director, Coca-Cola Great Britain): 'We will add more choice and breadth to our portfolio...tap into macro consumer trends like healthy living, exotic flavours and on-the-go snacking...we will evolve the ways we communicate and engage our consumers. The trend for instant, real-time conversations and connections with brands will continue...also trialling chat bots and AI, as well as investing in editorial-style content-led media partnerships that tap into the mass appeal of social influencers to consumers...(there) is an evolution in the way marketers use and present data insights...(insights) will allow a more personalised, targeted approach for 2018.' (5) Craig Greenberg (Head of Strategic Planning & Insight, William Grant & Sons UK): 'As consumers are constantly bombarded with information across various channels, we will see more brands attempting to cut through the clutter to become memorable...it is brands that have a differentiator aligned with their brand heritage in a credible way that will win in the long term...consumers will seek brands that build on their identity, meaning a bigger push towards 'local' specificity in luxury brands...in a period of uncertainty, big brands may feel detached from a sense of place and strive to get closer to communities.' (6) Ben Rhodes (Group Marketing Director, Royal Mail): '...continued growth in retail ecommerce - and the associated need for more convenience and choice in delivery and return options...consumer trust in messaging received via physical mail to continue to grow, compared with digital channels.' Read on...
What's in store for 2018? Marketers share their predictions
Author: Lucy Tesseras
Mohammad Anas Wahaj | 28 dec 2017
Corporations and businesses are actively involving themselves in social and community development through corporate social responsibility (CSR), philanthropy, nonprofit partnerships, volunteering etc, to create social impact and a better world. Volunteering can play an important role in providing skills that help in building a solid foundation for a successful career. Ebony Frelix, SVP of philanthropy and engagement at Salesforce, says, 'Some of my most memorable character building experiences and important learning moments have come from volunteering. I really do feel that giving back deepens our connections, bringing companies, people and communities together.' During her early career at Salesforce she managed interns from a nonprofit and later on joined Salesforce.org to lead the company's volunteer programs in Americas. She adds, 'The role opened my eyes to the possibility that I could merge my passion for volunteering with my professional career.' Salesforce applies 1-1-1 model for CSR and philanthropic activities. Marc Benioff, founder and CEO of Salesforce, at the time of founding of the company in 1999, set aside 1% of employee time for volunteering, 1% of equity for philanthropic donations, and 1% of products or services to give away to nonprofits. As a result of applying this model, Salesforce has given more than US$ 184 million in grants, 2.5 million hours of community service and provided product donations for more than 33000 nonprofits and higher education institutions. Business, technology and social impact are interconnected. Businesses realize that to do well, they have to participate in doing good. Consumers are now sensitive to ethical aspects of businesses and expect them to align with their values. Cone reports that 87% of Americans will purchase a product because a company advocates for an issue they care about and 76% refuse to purchase a company's products upon learning it supported an issue contrary to their beliefs. Ms. Frelix says, 'I'm excited about the intersection of the nonprofit and technology industries, and seeing innovative systems and products now accessible to nonprofits after traditionally only being available to large corporations.' Read on...
Mohammad Anas Wahaj | 25 dec 2017
According to a recent survey by Create, a new marketplace for health systems, local health networks best serve the needs of today's healthcare consumer. The survey took a detailed look at the preferences of individuals when selecting and receiving healthcare. It finds that 1/3rd have received care from more than one health system, or network of affiliated providers. Simeon Schindelman, CEO of Brighton Health Plan Solutions, says, 'This data uncovers that individuals are already taking their own steps to make their care more localized and personalized, but they aren't reaping the cost and quality benefits of such a network model. The survey also finds that there is a strong discrepancy between how loyal healthcare consumers feel they are to their primary care doctors, and how loyal they actually are. Mr. Schindelman and his team observed that 'our current healthcare system simply does not meet the needs and expectations of today's consumer...To enhance healthcare for everyone, we must move away from the current one-size-fits-all health plan, and instead listen to the needs of individuals across the country.' He explains, 'Managed care executives are responsible for managing cost, utilization and quality of care provided, while pursuing strategies for value-driven solutions. As such, hearing the preferences and expectations of today's healthcare consumer is at the center of performing those duties...this survey also uncovers a value-driven solution that has not been explored in the industry: plans that prioritize local, integrated healthcare systems.' Mr. Schindelman suggests - (1) Offer personalized plans. (2) Stop giving people benefits they don't need or use. (3) Explore new ways of lowering costs that don't compromise quality. Read on...
Mohammad Anas Wahaj | 24 nov 2017
Nonprofits have big ideas for social good but limited resources to accomplish them. Nonprofit-corporate partnerships can be a solution to match the vision and commitment of nonprofits with the resources and practices of corporates for making a better world. According to Danielle Silber, director of strategic partnerships at American Civil Liberties Union (ACLU), 'Whether it's tackling the Muslim ban or protecting green spaces, nonprofits have products and services that many companies realize they need to create a healthy business environment, and to contribute to a world their stakeholders - employees, investors and customers - want to live in.' Jessica Scadron, founder of Social Harmony, explains ways to make nonprofit-corporate partnerships successful - (1) A Shared Vision: Although companies and nonprofits have different reasons for partnering, both should agree on the partnership's purpose and outcomes. (2) Define the Partnership: Make sure each organization knows who is responsible for what, how decisions will be made, and which organization will lead the project; Appoint individuals to fulfil commitments; Cheryl Damian, SVP of Ketchum Social Purpose, says, 'Partnership terms are negotiated like any other contract. Not only does it drive accountability, it provides a clear understanding of roles and expectations...' (3) Monitor and Evaluate: Measure progress and figure out how to align metrics with disparate entities; Measurement is critical to the success of the project in order to quickly build on what works, learn from what doesn't, and keep momentum. (4) Communicate: Open dialogue will strengthen your collaboration and lead to better outcomes; Establish processes for communicating with your partner, and your internal team; Create a project work plan, schedule weekly check-in calls, and use technology to communicate. (5) Flexibility: Organizations have their own culture and they evolve and grow, and so do partnerships. Be flexibile and accomodating in approach and resolve conflicts with patience and understanding. Read on...
5 Ingredients to Make Your Nonprofit-Corporate Partnership Succeed
Author: Jessica Scadron
Mohammad Anas Wahaj | 23 nov 2017
Customer data is key for effective decision-making in marketing and advertising. Even though technology has provided tools to collect and analyze data, and obtain valuable insights, both brand marketers and agency buyers are unsure of the transparency and effectiveness of the data their partners are providing. According to the recent study, 'More Data, More Problems: Trust, transparency, and Targeting in 2017' by Bazaarvoice and Ad Age, more than 75% of survey respondents admitted they are not fully confident that the data they're utilizing is hitting consumers who are in-market to buy. Additionally, 65% of respondents claimed they do not fully understand the origin of their data sources. Here are 10 important questions that one should ask the advertising data provider before embarking on a marketing campaign and get the best value from it - (1) What are the sources of your data? (2) How far does your data reach? (3) What percentage of your data is created from a look-alike model? (4) Which intent signals or behaviors place a user into an audience segment? (5) How do you maintain your audience segments? (6) Can you explain the process behind how you define your audience segments - and the data that feeds into them? (7) In which categories does your data best perform, and why? (8) For which metric(s) does your data best perform, and why? (9) Can you reach the same user across their multiple devices? (10) Does your data drive brand consideration and/or sales, and can you accurately attribute the performance lift directly to your campaign? If so, how? Read on...
Mohammad Anas Wahaj | 28 oct 2017
Over the years the dynamics of relationship between patients and healthcare providers have evolved into customers and healthcare businesses type. Rising cost of healthcare, multiple providers, privatization and technology are some important reasons for this transformation. Brad Dodge, President of Dodge Communications, and Andrew Pelosi, President of Partners & Simons, provide in detail what the patients as consumers of healthcare services expect from providers and how healthcare businesses can develop robust customer oriented strategies and fulfil the role of trusted partner in providing care services. They explain, 'Healthcare consumers have come to the realization that they have options. They don't have to settle for poor service, long wait times, limited hours, or confusing bills. Customer loyalty has to be earned - as in any other business. And consumers make it perfectly clear that if a provider can't deliver a better and more personalized experience, then they will switch to one that can. Moreover, the shift in mentality demands that providers be transparent and personal as much as possible. And from generation to generation, consumers are demanding clear communication and a trusted connection with their providers.' According to the Solutionreach Patient-Provider Relationship Study, 'The Ripple Effect Starts with Boomers', 43% of millennials are likely to switch practices in the next few years, 44% of Generation X are likely to switch primary care physicians in the three years and 20% of Baby Boomers are likely to switch in the next three years. Also, 70% of patients desire the ability to text the doctor's office, and 70% would like to receive text messages from their doctor, especially about appointments. Healthcare providers have to keep in mind expectations of these consumers and provide them personalized experience if they want long-term continuous relationships. Authors suggest - (1) Communication Drives Experience: 'The essence of creating a positive experience is making customers feel that they are heard and important — before, during, and after a transaction. Consistent, relevant communication between your company and customers is the answer to optimize that experience and engender trust. Honest communication with an emphasis on personalization builds the trust that all companies need to grow in this new information-driven, engagement economy.' (2) Entering the Engagement Economy: 'Consumers are demanding a more personalized relationship that requires a depth of knowledge of their wants, needs, and buying behaviors - and, ultimately, the best ways to engage them. Brands that succeed are the ones that manage engagement across the entire customer lifecycle. In most instances, the lifecycle and trust-building process starts very early in the customer's buying decision, even before they are considering a purchase.' (3) Who Are You Talking To: 'Creating a positive customer experience requires knowing your audience, engaging interpersonally, and meeting their needs. Answering those questions helps you develop an understanding that will be reflected in how you communicate with them across all channels, as well as what content you deliver. Also, organizations must be clear and concise; they must also offer up a valuable story; and they must be prepared to tweak that story as the marketplace changes.' (4) Focus on Delighting Customers: 'Focusing on ways to delight customers will go a long way in nurturing engagement and trust in your brand. Again, communicating and delivering valuable information to potential and existing customers can please them, especially when that information demonstrates an understanding of their pain points and goals.' (5) Harnessing Engagement: In an environment where trust is in short supply and customer engagement is spread across a broad digital ecosystem, companies must focus on their customers and on nurturing relationships through effective, relevant communication. Focusing on customer experience, needs, and preferences will not only enable brands to differentiate their products and services in a competitive market but also build the trust that results in loyalty.' Read on...
Mohammad Anas Wahaj | 25 oct 2017
Social enterprises are businesses driven by the purpose to do social good and work for the uplifment and betterment of society. Business corporations too are creating similar impact through their corporate social responsibility (CSR) initiatives and often partner with social enterprises. The concept of doing good while making money is becoming mainstream. According to a survey by Rappler, '90% of millennials today value purpose as highly as salary and career progression in choosing their place of work. They prioritize impactful businesses that are sustainable and responsible in conducting their operations.' Thomas Graham, founder of MAD (Make A Difference) Travel and author of 'The Genius of the Poor', explains how a community of social entrepreneurs, 'Gawad Kalinga (GK) Enchanted Farm' in Bulacan (Near Manila, Philippines), is making a difference in the local community and market, what for-profit businesses can learn from their way of working, and provides an example of a growing social enterprise that is part of the system. Even Jean-Philippe Courtois, President of Microsoft International, visited the GK Enchanted Farm, a 42-hectare farm-village-university, not only to give back but also to meet the entrepreneurs there and learn more about how their values-driven approach has been able to make an impression in the market. Mr. Graham says, 'The greater goal of the farm, however, is not to convince everyone to become a social entrepreneur, but to demonstrate that doing business in the spirit of 'walang iwanan' (no one gets left behind) can be beneficial to everyone, no matter how big or small a business is.' Explaining the working model of a social enterprise in the GK farm, 'Plush and Play' (founded by a Frenchman Fabien Courteille), Mr. Graham says, 'Instead of conducting a more conventional business approach, which might involve extensive market research and a strict business model, followed by the importing of skills from elsewhere, Courteille instead spent his time living in the GK village, discovering the aspirations and talents of the community - in this case, sewing - and building a business plan out through unleashing the potential he saw before him.' Mr. Courteille comments, 'I did not choose an industry, but a beneficiary.' There are lessons that are to be learned from the working and progress of social enterprises. Mr. Graham says, 'Of course, 'Plush and Play' still has a long way to go before its volume of sales can compete with other mainstream brands in the Philippines, but there are lessons we can take from Courteille progress thus far. As consumers become increasingly patriotic and socially/environmentally conscious, having a great and authentic story to tell can set you apart, even in the most congested of markets. In this sense, doing good really does make good business sense.' He further explains, 'There are over 40 different social enterprises all at varying stages of growth and development, but what is to learn from them is valuable to any business: hard work, resilience, ingenuity, creativity, innovation, sustainability and taking care of one's employees and environment.' Read on...
Big businesses could learn from social enterprises
Author: Thomas Graham
Mohammad Anas Wahaj | 23 oct 2017
To interact with customers, keep them connected and build long-term beneficial relationships is the goal of every business. But, achieving it is a challenge and takes a lot of planning and work. According to Cody Burch, founder of Red Anchor Marketing, far too many business owners are limiting themselves to one offering, and missing the bigger picture of what they can do to serve their target audiences. He suggests that businesses should focus on customer experience and offer them multiple products and services to choose from. Mr. Burch provides five steps to establish a complete customer journey - (1) Start with the ideal/ultimate solution that can be provided to people and gives best result. Find the price for this offering and set it as the benchmark. (2) Take a step down from the ideal and design an offering. Repeat the steps until you have an array of offerings from low-cost/low-touch to concierge-level service. Mr. Burch stresses that businesses need a variety of solutions at various price points. (3) Be clear on the transformation you provide. Make sure that the solution you offer is presented in a way your market intuitively understands and values. (4) Cross-sell (products related to and that will enhance your current offering) and upsell (an upgraded offering). Even after the first sale, continue to cross-promote your products and services. (5) Think about your customer experience as a competitive advantage. Mr. Burch says, 'No matter how big or small your business is, you can create a memorable customer journey, one that serves your market, highlights your brand, and makes it stand out from the competition.' Read on...
Your Customer Journey - Five Steps to Business Success
Author: Lain Ehmann
Mohammad Anas Wahaj | 22 oct 2017
Design conscious renters and buyers seek well designed interiors when searching for living spaces, in addition to location, price and amenities. Mary Cook, founder and principal at Mary Cook Associates (MCA), explains the fundamentals of design that should be kept in mind for successful interiors. Moreover, answering the following questions focused on the end user is key to achieve best results - who is my client, where do they live and what does that mean to how they live? Design basics she suggests are - (1) Scale and Proportion: Balancing the scale and proportion of the elements of the interior (like furniture etc) with the overall space is key to achieving comfort. Also keep in mind the target market and adjust the elements accordingly. (2) Function and Livability: Effective design is achieved by understanding the various functions that take place in the living space. Also understand the requirements of those who are expected to occupy it. Designers should consider how the target market will experience and utilize the various spaces within the unit before implementation of their ideas. (3) Lighting: Lighting design is essential and proper balance need to be achieved. It is one of the often overlooked element of interior design. Comprehensive lighting plans that fulfil the needs of those who will occupy the space makes it attractive. Layered lighting is the key to achieving optimal illimination. A combination of natural lighting, foundational lighting and task-centered lighting brings the necessary balance and efficiency. Read on...
Mohammad Anas Wahaj | 30 sep 2017
Data can be gold for those who can mine and transform it into a valuable form. Mastercard is giving a new meaning to it and evolving a concept of 'data philanthropy.' Shamina Singh, president of the Mastercard Center for Inclusive Growth, explains the idea of data philanthropy and how data can be utilized for social good and social impact. She says, 'The initiative first came up through a partnership with DataKind in the United States. They were set up to galvanize data scientists from around the world and plug them into social impact work. And so a number of our Mastercard data scientists signed up to DataKind programs, and this gave us the opportunity to form a much more lasting and strategic partnership between the organizations. It opened a new conversation about data for good, what it could look like, and who was doing what in this space. It was also around this time that we had the United Nations opening up to data and data initiatives, and companies like Microsoft thinking about data for good.' Explaining some of the elements of data philanthropy Mastercard is focused on, she says, 'One is working with actual Mastercard data and trying to figure out if there are uses with anonymized and aggregated data that will not only respect the rules of the road around privacy, but can be used for research. We first opened our data for use by Harvard University, who approached us with a proposal to use the data to understand how economies grow, with a specific focus on tourism data and understanding how tourism dollars move in a country. Using Mastercard transaction data, we were able to provide new insights into this area...The other area of data philanthropy is around data analytics. What we have found is that many social impact organizations or NGOs do not need Mastercard data at all. Instead, they need to understand their own data, but often don't have the capacity or resources to help themselves. In those instances, we provide either a grant to hire a data scientist, fund an expert consultant, or provide our own data scientists to build their capacity and ability to learn. The inspiration for this element of data philanthropy came from our work with an organization called DoSomething...' Providing information on how Mastercard data scientists are internally looking for insights, she says, 'We started something called the charitable donations insight, and that is something that one of our colleagues is doing where she is using Mastercard data and drawing insights to help nonprofits understand charitable giving. We asked what a spending poll would look like for not-for-profits and social impact organizations, and insights is the first attempt at that...What she realized is that a lot of the not-for-profits have to raise their own funds, but there is not a lot of science behind potentially where and how they should be doing this. So she thought if she could unlock some of the data around the charitable contributions that we know of, she could offer insights to assist them. The other thing we did, which was very interesting, was we created a dataset that organizations could pull down if they want to, and mix it with your own data to self-regulate your own work.' Read on...
Mohammad Anas Wahaj | 23 sep 2017
Team of researchers - Anatoli Colicev of Nazarbayev University (Kazakhstan), Ashwin Malshe of University of Texas at San Antonio (USA), Koen Pauwels of Northeastern University (USA) and Peter O'Connor of ESSEC Business School (France) - in their paper 'Improving Consumer Mind-Set Metrics and Shareholder Value through Social Media: The Different Roles of Owned and Earned' published in Journal of Marketing, describe the impact of social media on stock market performance via three consumer mindset metrics: brand awareness, purchase intent, and consumer satisfaction. According to the research all the social media posts are not created equal. Owned social media (OSM), i.e. company's own posts, is likely to increase brand awareness and customer satisfaction but not purchase intent. While earned social media (ESM), i.e. what consumers say about brands on social platforms, is even more valuable, potentially increasing all three consumer mindset metrics. Prof. Koen Pauwels says, 'Consumers look to their peers before making purchasing decisions, which is why earned social media is so valuable. Both investors and consumers distrust companies who boast about themselves, because it's hard to know what weaknesses they're trying to hide.' The researchers also found that consumer satisfaction and purchase intent are primary contributors to firm value. While higher consumer satisfaction was found to increase stock market returns, greater purchase intent was shown to both increase stock market returns and lower idiosyncratic risk - risk that is endemic to a particular stock and not a whole investment portfolio. The researchers used time series analysis to decipher the link between social media posts on various platforms consumer mindset metrics, and shareholder value. Prof. Pauwels suggests that research findings could assist marketers to develop more effective social media strategies. He says, '...marketers and social media managers should craft their OSM messages to target customers to improve brand awareness and customer satisfaction. Due to the value-relevance of customer satisfaction, OSM that is targeted toward helping customers post-purchase, addressing their concerns, and reinforcing their purchase decisions is much more valuable than OSM crafted to persuade customers to buy the firm's products.' The research also found that brands with high credibility (reputation) are far more likely than brands with low credibility to increase purchase intent with their own posts. Read on...
News @ Northeastern:
When it comes to social media, consumers trust each other, not big brands
Author: Jason Kornwitz
Mohammad Anas Wahaj | 18 sep 2017
According to various studies corporate ethics and social responsibility (CSR) are becoming integral to the realm of businesses and corporations. Ethisphere Institute has been compiling list of 'World's Most Ethical Companies' since 2007. Robert Reiss, host of CEO TV Show and co-author of 'The Transformative CEO', interacted with business leaders to discuss the state of business ethics and CSR, particularly emphasizing on the concepts and their meaning, relationship between ethics and responsibility, best practices in building an ethical culture, and insights on measuring ethics. Here are their summarized responses - (1) Dan Amos (Chairman and CEO of Aflac): 'Ethics is a mindset, not an option.' Consumers respond to it in positive way; Ethics is a subset of CSR. Ethical companies will always display strong governance and compliance. Socially responsible companies are ethical but also understand their overall obligation to make the world a better place; Culture begins at the top. Communicate and celebrate responsibility regularly. Don't be partially ethical; Annual scientific CSR survey, work with Ethisphere and Reputation Institute to validate the direction of ethics and CSR programs. (2) Timothy Erblich (CEO of Ethisphere Institute): 'Good Ethics is Good Business.' Financial return of ethics is significant; CSR is a critical component of overall ethics quotient just like governance culture, transparency, customers, gender equality, philanthropy etc. Its all combined to build trust; Empower managers at the local level. Top leadership must be all in. Be committed and focus on integrity. Measure and communicate results. Incorporate culture at all levels and in all activites; Measure through peer-to-peer analysis and networking. Directly engage with employees. Routinely survey employees, customers and stakeholders. Join exclusive networks like the Ethisphere's Business Ethics Leadership Alliance (BELA). (3) Rodney Martin (CEO of Voya Financial): 'Ethics is a reflection of our commitment to doing business the right way. We emphasize trust and transparency.'; CSR includes key aspects of company culture like ethics and transparency, diversity, inclusion and equality, environmental sustainability, governance, and volunteerism and philanthropy; Exemplary leadership is essential. It should be part of the core values. Building ethical culture must be centered on doing the right thing in a safe and open environment; Participate in Ethisphere Institute's annual World's Most Ethical Companies. It enables to benchmark the company with other industry leaders. Read on...
Mohammad Anas Wahaj | 16 sep 2017
E-commerce has disrupted traditional retail but at the same time pure-play e-commerce companies find it challenging to be profitable. Steve Dennis, strategic advisor, keynote speaker and founder of SageBerry Consulting, provides economic dynamics of e-commerce companies and analyzes the challenges to their road to profitability. He cites the case of e-commerce behemoth, Amazon, that accounts for 45% of US e-commerce and being in business for more than 20 years, still operates at below average industry margins. Some e-commerce companies are even investing to have physical retail presence. Regarding e-commerce among traditional retailers, Mr. Dennis says, '...it's clear that the e-commerce divisions of many major omni-channel retailers run at a loss - or at margins far below their brick & mortar operations.' According to him, increasingly high cost of acquiring (and retaining) customers online is one of the main dynamics that is an impediment to profitability. He explains, 'As it turns out, many online brands attract their first tranche of customers relatively inexpensively, through word of mouth or other low cost strategies. Where things start to get ugly is when these brands have to get more aggressive about finding new and somewhat different customers.' He provides three factors that lead to this - (1) Marketing costs start to escalate: To seek growth, advertising spend increases; Online platforms like Facebook, Google etc are utilized to gain broader audience. (2) More promotion, less attraction: Customers in the growth phase need more incentives, so gross margin on these incremental sales comes at a lower rate; Customers now expect discounts for future purchases, making them inherently less profitable than the initial core customers. (3) Questionable (or lousy) lifetime value: Customers that are acquired as the brand scales have lower incremental lifetime value, both because on average they spend less and because they are inherently more difficult to retain. Read on...
Mohammad Anas Wahaj | 31 aug 2017
Executive pay is always a topic of debate and more so when it is a case of nonprofits. Moreover, when nonprofit healthcare executives are in focus, the dynamics of the issue become even more complex. As healthcare is an essential aspect of everybody's life, rich or poor, and has a humanitarian dimension, the issue is an everyone's concern. In healthcare, just like in education, for-profit and nonprofit delivery models co-exist, but general population treats these sectors as noble and a large number despises the business-like profit-making approach. A debate is brewing up at the University of Vermont Medical Center (USA), a nonprofit healthcare provider, where CEO's salary is more than US$ 2 million. To justify the compensation, hospital board members say that their executive pay is in line with competitors and makes up a small portion of their budget. But there are other differing views. Sen. Chris Pearson (P/D-Chittenden) says, 'To see that the CEO of our hospital is getting US$ 2 million...it's just way out of whack with the Vermont economy.' State of Vermont has 14 hospitals, all of them nonprofits. Kevin Mullin, the state's chief health care regulator, decided to highlight the salaries of top officials in these hospitals. He says, 'I think it might be illuminating to the public.' Scottie Emery-Ginn, UVM's board chair, justifying executive compensation, says, 'Our health care professionals come from a national market...In order for us to get the best people and keep the best people, we need to pay competitively.' There are no clear rules on salaries of nonprofit employees. The IRS requires only that compensation be 'reasonable', which has been interpreted to mean comparable to similar organizations. A Wall Street Journal analysis of Form 990s found that, in 2014, 2700 nonprofits provided seven-figure compensation packages, and 3/4th of those organizations worked in the health care sector. Executive pay is a concern during the debates on cost of medical care. The US spends US$ 3 trillion annually on health care - more than any other country - and administrative costs are 20-30% of that sum. Sen. Pearson says, 'It obviously inflates our health care costs...When you have public-relations people at the state's largest nonprofit hospital making half a million a year, it undermines confidence in the entire system.' Views of other employees are important in this regard. Maggie Belensz, a nurse at UVM's neurological unit, says, 'It's difficult to hear those numbers as a nurse.' Laurie Aunchman, a UVM nurse and president of Vermont Federation of Nurses & Health Professionals, acknowledged the need to pay competitively but said the hospital should balance 'offering someone a million dollars or 2 million dollars' with investing money in 'taking care of the patient.' Mari Cordes, a UVM nurse and health care activist, says, 'We think it's an ethical issue. That excess money could be used to improve access to health care for everyone in Vermont...It could be used to provide support for people actually providing the frontline high-quality care.' Dr. Deb Richter, a universal health care proponent, described executive pay at Vermont hospitals as 'obscene.' Read on...
Seven Days VT:
Million-Dollar Question - How Much Should Nonprofit Hospital CEOs Earn?
Author: Alicia Freese
Mohammad Anas Wahaj | 30 aug 2017
Businesses invest heavily on external communication and PR, but internal PR can sometime take a back seat and get neglected, although it is as important and keeps organizations focused and uniformly branded. Lindsay Nahmiache, Co-founder and CEO of Jive PR + Digital, explains the value of internal PR and provides three creative ways to enhance internal PR strategy. She says, 'Effective internal PR benefits brand identity, boosts employee retention and paves the way for a connected culture where teams are focused on common collaborative goals.' Moreover, digitally evolved workplaces and remote collaboration has brought in new communication dynamics that need to be addressed with robust internal PR strategy. She explains, 'In my experience, creating a forward-thinking internal strategy requires consistent and open two-way communication that is fueled by team cohesion and recognition.' (1) Openness: Promote teamwork; Place trust in your team; Attend outing with employees and do team oriented activities; Start hashtags that reflect your office culture and encourage team member participation; Once a month organize socializing events during office time. (2) Consistent Two-Way Communication: Encourage questions and open discussions on best practices and solutions; Consistency is key for collective innovation and individual responsibility; Publicize internal PR through multiple channels; Hold scheduled weekly meetings with all employees in one place to ensure lines of communication are open about current and future projects; Give higher-level insight into new employee hirings, business decisions, holiday news and more during weekly manager meetings. (3) Team Recognition: Team members respond positively to recognition of their work because it confirms their impact on the bottom line; Take time to reward your team through informal or formal awards; Hold innovation challenges by creating opposing teams; Focus on client wins as much as you do with client struggles. Read on...
Mohammad Anas Wahaj | 23 aug 2017
Rapid pace of innovation is the defining feature of the current era. According to the World Economic Forum, 'The speed of current breakthroughs has no historical precedent.' Financing industry now have innovative lending platforms, both for-profit and nonprofit, for small businesses. But there are concerns regarding many products as they may trap small businesses in a cycle of debt. Gina Harman, CEO (U.S. Network, Accion), explains the challenges that nonprofit lenders face due to rapid innovation happening in the industry and shares insights from the conversation between industry experts - Kate Mirkin (Salesforce.org, Salesforce's nonprofit social enterprise); Prashant Reddy (DemystData); Patrick Davis (CRF, Community Reinvestment Fund); Shaolee Sen (Accion). Myth 1 - The only barrier to scale is the absence of technology: Technology investments get wasted if there are no capable people to deploy it internally and manage the necessary changes in business processes. Challenges are even more when multiple organizations are involved in the project. Establishing and maintaining discipline is essential. Right technology with right data is required to maximize its utility. Myth 2 - For nonprofit organizations, passion to serve more people outweighs fear of change: Nonprofits must overcome lack of investment in talent, knowledge and resources required to drive technological innovation. Nonprofit organizations in business lending industry must consider change necessary to better serve their stakeholders. Collaborative approach to manage technological change must be adopted between the organization and the key stakeholders. Myth 3 - Only organizations with large technology budgets can innovate: Small investments in incremental improvements can add real value to organizations. Even effective data utilization can bring transformative changes at low cost. Within the social impact and mission-driven space, an approach with shared purpose and collective interests can help organizations collaborate and pool resources to implement and utilize costly technological innovations to provide value to the group. Read on...
3 Innovation Myths that Nonprofit Lenders Should Abandon
Author: Gina Harman
Mohammad Anas Wahaj | 19 aug 2017
Design influences products and services from inception to completion. John Maeda, Global Head of Computational Design & Inclusion at Automattic, in his '2017 Design in Tech' report explains that markets are relying on intangibles like design for a higher ROI. Tracy Leigh Hazzard, CEO of industrial design firm Hazz Design, explores the value of design in today's market, and the details Mr. Maeda has provided in his recently released report. Mr. Maeda is spearheading the new convergence across the design & technology industries. Data shows that design is an all-encompassing process of offering something to the market that is complete in every way, and also inclusive. Linking design directly to ROI provides measurement of value that design offers to organizations and how sucessful it actually was/is. Design is about market relevance and meaningful results. Mr. Maeda says, 'We moved from 'tech-led' to 'experience-led' digital products as services on smartphones took over and gave access to everyone.' Designers are finding more acceptance in the technology industry and their headcount is increasing. Linda Naiman, Inc.com Columnist, says, 'Making inclusive design profitable hinges on the principle that if you want to reach a larger market, you have to reach people you're not already reaching by being inclusive. This new frontier of design requires some technical understanding outside of purely classical design. The hybrid designer/developer, referred to as a 'unicorn' in the tech industry, is often relied upon to bridge that gap.' Read on...
Mohammad Anas Wahaj | 17 aug 2017
A research study by Strategy Analytics' AppOptix practice (AO) brings good news for B2B players as it finds that 50.4% of consumers use their personal smartphone for business purposes. Employees are using their personal smartphones to conduct business and installing public domain and company-sponsored apps for file sharing, data security, time sheets, expense reporting, and collaboration. B2B companies can identify these business users disguised as consumers to target their offerings. The study also found - 20.5% of business users utilize their personal smartphone over 50% of the time to conduct business; 20.8% of business users are compensated by their employer for their network/wireless operator charges. Author of the study, Prabhat Agarwal (Director, AppOptix), says, 'This research showcases and substantiates there are entry points for B2B players that are looking to offer business services to consumers...By analyzing combinations of apps, we can create probability profiles that identify likely users of business services.' Barry Gilbert (VP, Strategy Analytics), says, 'The business and enterprise user is a critical and lucrative market for mobile operators, device OEMs, and many enterprise software firms...' Read on...
50.4% of Consumers Use Their Personal Smartphones to Conduct Business, Finds Strategy Analytics
Mohammad Anas Wahaj | 09 aug 2017
Research paper 'Secular Trends and Technological Progress' by Prof. Enrico C. Perotti and Robin Döttling (Ph.D. student) from University of Amsterdam (Netherlands) finds intangible capital or assets have played a key role in shaping growth, asset prices and inequality in recent decades. Researchers explain, 'The transition to a knowledge-based economy and the associated shift from physical to intangible capital is a primary cause for the rising excess savings over productive investment in advanced economies, presented in the 'secular stagnation' hypothesis. Falling interest rates and rising long-term asset values can be interpreted as a direct consequence of this gradual process. Critically, the approach also allows (us) to interpret the growing share of income gained by innovators, the progressive reallocation of credit from productive to asset financing uses (primarily for housing) and the rise in household leverage.' Secular stagnation, with its low inflation and low growth, can be understood by the growth of information economy and the expansion of intangible assets. In the information economy companies rely more on intangible assets and over the years they have boosted their investment in intangibles like intellectual property from about 30% of company capital in 1980 to nearly 70% today. According to the researchers, both intangible capital and skilled labor have outpaced the broad economy in productivity growth. James Saft explains the implications of the research findings - Secular stagnation may be here to stay, at least until the intangible economy starts coming up with projects that require huge capital investment; Monetary policy may be fighting a losing battle to spark investment and build inflation and lower-skilled wage growth; Taxation and redistribution may end up the only way to let the market work in producing innovation and also reach a democratically acceptable allocation of the proceeds. Read on...
Mohammad Anas Wahaj | 08 aug 2017
According to Prof. Pritam Singh, Oxford Brookes University (UK), BRICS nations will lead the global economy and play vital role in spatial shift of the global capitalist economy. While speaking at expert session on 'Global Economic and Environment Crisis Faced by BRICS Economies' at Chandigarh University, Prof. Singh said, '...By 2050, if the Indian economy continues to maintain the current growth pace (GDP growth 7%), it will be the dominant global supplier of services while China would dominate the global manufacturing industry...' Read on...
Mohammad Anas Wahaj | 25 jul 2017
Technology is taking away traditional jobs from many industries. Even the workers in technology intensive graphic design sector face challenges from online artifical intelligence (AI) platforms that provide graphic design services. Canada-based Logojoy is one such platform providing personalized graphic services for small businesses, startups and entrepreneurs. It's AI platform is intuitive and mimics the process of working with human graphic designer. Dawson Whitfield, founder of Logojoy, says, 'The magic of Logojoy is the groundbreaking algorithm, user-friendly interface, and premium design ingredients. Logojoy has close to 1000 design rules built into its algorithm.' According to EY's recent 'Millennial Economy Report', 72% of new businesses do not have the funding for graphic design services. Mr. Whitfield adds, 'As a graphic designer, many of my clients were looking for budget solutions for their businesses, so this is when I realized I could help a lot of people in the start-up and SMB spaces with this software.' Read on...
Mohammad Anas Wahaj | 24 jul 2017
Time management is a critical component of work-life balance. Content marketing is a busy and stressful job. Following are valuable tips for content marketers - SETTING THE STAGE: Make a plan before you start creating content; Use to-do lists; Set clear goals; Know who your audience is. INCREASING PRODUCTIVITY: Work when you feel alert and creative; Do similar tasks in groups; Do one thing at a time; Reuse your content; Take breaks. USING TIME WISELY: Find productivity tools that work for you; Automate chores; Delegate when it's appropriate; Prioritize tasks that give you the most ROI; Drop unnecessary tasks; Create evergreen content; Spend time on the right social media channels; Curate content; KEEPING THE WHEELS TURNING: Make an idea bank; Have a backlog of content; Listen to your audience; Stay on the same page as the rest of your team. Read on...
Mohammad Anas Wahaj | 20 jun 2017
Social media is a great digital marketing tool for businesses to connect and engage with customers, and for internal communication. Integration of social media within customer relationship management (CRM) modules can help to draw, close and create repeated engagements with customers. Inputs from different social media platforms can assist in lead generation and also set up post-sale engagement with customers. Following are some advantages of social media to businesses - (1) Business professionals can find and engage with peers and customers. (2) Responding to customer complaints, obtain feedback and engage with other customer communication has become much common on social media platforms. (3) Sales people seeking prospects and leads can utilize professional networks on platforms like Linkedin. (4) Companies with robust social media strategy can counter and overcome issues before they transform into crisis due to viral nature of social media. (5) Social media can be utilized as an effective recruitment tool. Somesh Misra, VP at Deskera, a global cloud-based ERP and CRM provider, says, 'In fact, CRM providers are developing functionalities in order to deliver the benefits of Enterprise 2.0 and built-in Web 2.0 technology. Embedding innovative features such as activity feeds, conversation threads, chatbots, etc. into CRM applications could open doors to new and immense possibilities in the field of software development as well as integrated digital marketing.' Read on...
Mohammad Anas Wahaj | 31 may 2017
Personalization and customization are key for better customer relationships. According to a new research commissioned by RICOH, more than 2/3 of European consumers say the best brands are those who treat them as individuals. The survey of 3600 consumers across Europe was conducted by Censuswide. Consumers were asked to rank brands in terms of the quality of the relationships with them before (reach), during (respond) and after (retain) purchase. Chas Mahoney, director at RICOH Ireland & UK, says, 'The research we commissioned shows 57% of consumers would also spend more with brands that make them feel like valued customers. This heightens the fact that driving business growth must be intimately linked to making interactions easy and ensuring consumers feel appreciated. ...The right technology along with streamlined digital processes are the most powerful tools in the battle to satisfy and retain today's consumers.' Read on...
Mohammad Anas Wahaj | 19 may 2017
According to design experts at 'ASEAN Creative Cities Forum and Exhibition' (Philippines), creative industry plays an important role in a country's economic growth. Some of the experts that participated include Prof. John Howkins (Author of the book 'The Creative Economy'), Nora K. Terrado (Chairperson, ASEAN 2017 Committee on Business and Investment Promotion-CBIP), Paolo Mercado (Nestle Philippines), Andrew Erskine (Tom Fleming Creative Consultancy), Katelijn Verstraete (British Council East Asia), Kenneth Cobonpue (Philippines), Anon Pairot (Thailand) and Colin Sean (Singapore). Ramon Lopez, Secretary of Department of Trade and Industry (DTI), says, 'The goal of the event is to channel these (creative) assets into innovation , employment, trade opportunities, and mobilizing it to drive each of the economies in the whole Southeast Asian region.' Rhea Matute, executive director of Design Center of the Philippines, says, 'We really are committed to develop the creative quotient of the Philippines...This is really an important opportunity by which our designers, our creatives, can branch out beyond our borders to have a more open system of having dialogue with our ASEAN partners in view also of the ASEAN integration.' Moreover, the event was also intended to initiate a movement to have at least one Philippine city to be a member of the UNESCO Creative Cities Network (UCCN). UCCN currently have 116 cities from 54 countries covering seven creative fields: Crafts and Folk Art, Design, Film, Gastronomy, Literature, Music and Media Arts. It's goal is 'to promote cooperation with and among cities that have identified creativity as a strategic factor for sustainable urban development.' Following are some takeaways from the forum: (1) Working in the creative industry is a lucrative career. (2) The road to success is challenging yet fulfilling. (3) Always look around you, and be original. (4) Standing up with your decisions. (5) Government plays a big role in developing the creative industry. (6) School plays an important role, too. According to Colin Seah, Singapore-based architect and Ministry of Design's Founder and Director, 'At the school level, I'm not saying you need to train everyone to be a creative but if you introduce design education at an early stage, then what you do is two fold - you unlock any potential for people who may be seeking these professions. Secondly, you train and educate people who will eventually become patrons and consumers...then it becomes a cycle. You have good creatives, and you get people who can pay for creatives.' Read on...
ASEAN Forum - Creativity is the driving force in economic growth
Author: Romsanne Ortiguero
Mohammad Anas Wahaj | 16 may 2017
The way technology is applied and the transformations it brings, can be analyzed by viewing technology as a complement or a replacement to humans. Every industry is impacted by technological advancements. Gartner predicted in 2011 that 85% of all customer interactions with the enterprise won't involve another human. Artificial intelligence (AI) software is now capable of helping employees from both a people standpoint and a hard data standpoint, a combination of culture with productivity. Mario Martinez Jr., CEO of M3Jr Growth Strategies, interacts with Rob Käll, creator of Cien, an app that helps sales teams use AI to fix productivity, improve motivation, and increase sales effectiveness, and explores how AI can successfully help sales teams. Mr. Käll believes that AI can also solve one of the greatest challenges to sales - Motivation. He says, 'Productivity goes down as you grow your sales team. As you grow, it's hard to keep the passion.' Following are three factors that AI can assist to create successful sales team - (1) LEADS: According to Gleanster Research, only 25% of all leads are legitimate and deserve further attention. AI can help sort leads quickly and look out for good leads. Loren Baker, member of Forbes Agency Council, 'AI bots and other AI solutions will better prequalify inbound leads and assist with customer retention. Chatbots and messenger bots can lead the lead or concerned user down a path that lets the sales team know exactly what they need from a lead (qualification) perspective.' (2) PEOPLE: AI doesn't remove people from the process, it assists them to do better. AI helps select good leads and opportunities, offer personal advice, provide daily reminders, lead prioritization performance measurement comparison etc. AI can help to monitor and evaluate team members. (3) MACRO: In sales, macro factors are to be kept in mind - economic growth, competition, seasonality etc. AI can gauge macro factors and help plan accordingly. It can assist in predicting and calculating things. Mr. Käll says, 'How do you incorporate human behavior into a quantitative model? There are plenty of learning algorithms out there, but very few take human behavior into account...We give them the ability to see and understand how and why they achieve their goals.' Read on...
Business 2 Community:
3 Ways Sales Managers Can Use AI to Increase Sales Effectiveness
Author: Mario Martinez Jr.
Mohammad Anas Wahaj | 28 apr 2017
The rise of the mobile phones and mobile internet users worldwide is expected to result in growth of mobile advertising. But according to Celtra and On Device Research, mobile ads are unpopular with users - 60% of clicks on mobile banner ads being an accident, 71% saying half the ads disrupt the mobile experience and 69% saying that mobile ads obscure content. The research also finds that top-performing mobile ads (top 20%) follow some common principles, when followed (6 or more) by brands will lead to better ad performance - Logo presence on every frame; Human presence; Product shots; Placing branding at the top; Caution with dual branding; Single clear message; Video; Humour; Interactivity; Strong call to action. Alex Saric, CMO of Celtra, says, 'To effectively tell their stories, brands must ensure quality creative in their ads...By combining the guidelines from this study with a compelling story, and enabling such quality ads at scale, only then will advertisers realize the full potential of their advertising efforts.' Alistair Hill, CEO of On Device Research, says, 'These recommendations are rooted in robust quantitative analysis and as such provide a useful check list for mobile marketers to reference before embarking on a mobile brand campaign.' Read on...
Mohammad Anas Wahaj | 26 apr 2017
John Murphy, founder of Interbrand, first coined the term 'branding' in 1985 in his book 'Branding: A Key Marketing Tool'. He explains the value of brands and branding and its evolution through the years. According to him, 'Our view of a brand 25 years ago was quite prosaic and utilitarian. We viewed it as a business asset whose purpose was to enhance the earnings of the brand owner. We saw a brand as a product or service, or business, which had developed a personality that was appealing to consumers. This is still mainly true today, but with the development of branding has come a great deal of over-elaboration. Much of what is being offered by branding consultants today seems to be deliberately over-complicated...A good consultant makes the complicated simple, not the simple complicated.' He adds, 'A further trend, which I dislike, is to view branding as a kind of religious or life-enhancing process...It amazes me that brands, things developed to benefit their owners, have acquired such reverence. In practice, branding's reach has expanded greatly over the last quarter century, but the fundamentals have not changed much at all; and a great deal of the increased sophistication of the brander's art is illusory.' He cautions, 'Just remember that a brand is a differentiated product or service, or company, with a distinct persona. Treat it carefully and appropriately in order to reflect and enhance this persona. Even if you develop the most wonderful brand in the world, you may still suffer business failure. On its own, a brand can never guarantee business success; conversely, without a brand, business success may prove impossible.' Read on...
Branding might be everywhere, but it's as simple as it ever was
Author: John Murphy
Mohammad Anas Wahaj | 24 apr 2017
Among the many challenges that startups face during their early stage is that of hiring a first employee. With unspecific and variable requirements, and limited financial resouces, hiring a full-time employee could be a costly option. Autumn Adeigbo, ethical fashion advocate and founder of a fashion label, explains how first hiring or working with freelancers can be an optimum alternative for startups. It not only saves on costs associated with full-time employee, but also prepares the entrepreneur to select the best candidate in future based on specific needs. She shares 7 steps to successfully hire a freelancer - (1) Create A Job Description, Experience & Education Requirement: Be specific in creating a human resource document for every freelancer, advisor and intern needed during the first year of company's operation. (2) Work with an HR Mentor/Advisor: To obtain right guidance, get a mentor. Moreover, obtain information through articles and high quality content. (3) Source Your Talent: Use a combination of offline and online processes to reach out for the talent. Post requirements on focused websites and job boards, in addition to approaching your own network. (4) Interview The Candidates: Take time to prepare the questions to be asked. Browse their profiles diligently. Discuss specific requirements with the candidate. Seek for the right fit with balanced expectations. (5) Alert The Chosen Candidate & Sign Paperwork: Communicate to the selected candidate the period for which they would be needed initially and do the necessary paperwork. (6) Train The Candidate With Company Culture, Background, Rules & Expectations: Create a brand/company culture document to avoid ambiguity. Share brand's evolution. (7) Start Work & Review Their Early Performance: Observe and review the work and communication style for better understanding and working partnership. Read on...
7 Steps To Successfully Hiring Your First Freelancer
Author: Autumn Adeigbo
Mohammad Anas Wahaj | 08 apr 2017
According to the findings of KPMG 2017 Global Technology Innovation report, US and China continue to be the most promising markets for technology breakthroughs that have global impact, with India and the UK progressing in third and fourth place with innovative tech hubs of their own. The report is based on survey of 841 business executives globally that focus on technology, and highlights the changing landscape of disruptive technologies, with perspectives on technology innovation trends, barriers to commercialize innovation, and insights into technology innovation leading practices. Although various countries are trying to emulate Silicon Valley to develop their own technology hubs, some are finding success in their efforts while others are facing macroeconomic and infrastructure challenges. Tim Zanni, Global and US chair of KPMG Technology, Media and Technology practice, says, 'What we have seen emerge over time is the result of countries and cities striving to replicate and build on the Silicon Valley tech innovation blueprint, and their increasing degree of success. One can debate whether or not replicating Silicon Valley is possible, but the benefits of the effort are undeniable.' Mr. Zanni states in the report that growing ecosystems as tech innovation has spread across all industries, is fueling the expansion of technology innovation development. Respondents of the survey consider the following as the top global technology innovation visionaries - Elon Musk, CEO of Tesla and SpaceX; Tim Cook, CEO of Apple; Jack Ma, Chairman of Alibaba; Larry Page, CEO of Alphabet; Sundar Pichai, CEO of Google; Satya Nadella, CEO of Microsoft; Bill Gates of Microsoft; Mark Zuckerberg, CEO of Facebook; Jeff Bezos, CEO of Amazon. Read on...
The Next Silicon Valley:
US and China are top innovation hubs, followed by India and UK
Author: Nitin Dahad
Mohammad Anas Wahaj | 30 mar 2017
According to CMS.gov website, 'Accountable Care Organizations (ACOs) are groups of doctors, hospitals, and other health care providers, who come together voluntarily to give coordinated high quality care to their Medicare patients. The goal of coordinated care is to ensure that patients, especially the chronically ill, get the right care at the right time, while avoiding unnecessary duplication of services and preventing medical errors. When an ACO succeeds both in delivering high-quality care and spending health care dollars more wisely, it will share in the savings it achieves for the Medicare program.' ACOs promise to get patients more involved in their own treatments. These healthcare delivery systems are held accountable to meet cost and quality criteria. The study, 'A Multilevel Analysis of Patient Engagement and Patient-Reported Outcomes in Primary Care Practices of Accountable Care Organizations' (Authors - Stephen M. Shortell, Bing Ying Poon, Patricia P. Ramsay, Hector P. Rodriguez, Susan L. Ivey, and Thomas Huber of the UC Berkeley School of Public Health (USA); Jeremy Rich of HealthCare Partners Institute for Applied Research and Education, Los Angeles, CA; and Tom Summerfelt, Advocate Health, Chicago, IL), published in Journal of General Internal Medicine, found that adult patients who were treated in a primary care practice site that promoted a patient-centered culture reported fewer depression symptoms and displayed better physical functioning. According to Prof. Stephen M. Shortell, principal investigator of the study, 'These findings add to a growing literature on the importance of engaging patients in their care to achieve better outcomes that matter to patients like how they function physically and socially. In addition, it breaks new ground by identifying specific features of primary care practices that appear to be associated with achieving such outcomes through increased patient engagement.' He adds, '...more highly activated, engaged patients ask more questions to have their concerns addressed, and, as a result, are more satisfied with their care experience and more motived to achieve desired outcomes.' Prof. Hector P. Rodriguez, study co-investigator, says, 'Healthcare organizations will increasingly need to find ways to efficiently collect patient-reported data and strategies to use this information for monitoring treatment plans, engaging patients in their own care, and improving their health behaviors.' Read on...
UC Berkeley Research:
How patients, ACOs, and researchers partner to achieve better health
Author: Jaron Zanerhaft
Mohammad Anas Wahaj | 28 mar 2017
As crowdfunding becomes a mainstream strategy for individual fundraisers and nonprofit organizations, it becomes imperative to understand the industry trends that provide best fundraising results, and have potential to continue into the future. Christopher Moore, Marketing Mixologist at Floship, shares important trends shaping the industry and shows how to incorporate these ideas in crowdfunding campaigns - (1) Diverse Crowdfunding Platforms: Assess crowdfunding needs. Select the right platform to get specific target audience. Niche platforms are now available. (2) Nonprofit Crowdfunding Campaigns: Many crowdfunding websites are specific to nonprofits. It's easier for nonprofits and charitable organizations to meet their fundraising goals through crowdfunding. The benefits include - Expanded social reach; High speed fundraising; Low-risk giving. (3) Fully Customizable Fundraising Experiences: Fundraising process is becoming more customizable. Campaigns could be specifically designed and promoted. Ways it is happening is - Brandable campaign pages; Fundraising model flexiblitiy; Variety of sharign options. (4) Crowdfunding Campaigns Paired with Events: Events add a real-world component to the online campaign. It boosts the fundraising potential. Following ideas can be used - Pick the perfect theme; Include a variety of fundraising activities; Simlify event registration. (5) Highly Visual Campaigns: To make an impact on online donors include videos, photos, graphics and to-the-point campaign story. Read on...
Mohammad Anas Wahaj | 19 mar 2017
Tony Bacigalupo, founder of New Work Cities, on his website (Whatiscoworking.com) explains 'Coworking' as - 'The word "coworking" as it is known today originates with a concept put forth by Brad Neuberg in 2005...It is directly related to Neuberg's original concept and had since evolved into a decentralized movement centered around a core set of shared values: Community, Openness, Collaboration, Accessibility, and Sustainability...A Coworking Space is generally a phrase used to describe a business or organization that is dedicated to the full Coworking concept. These spaces represent a critical foundation of infrastructure for a new and growing workforce of people who work where, when, how, and why they want. A coworking space's relationship with its members is one that is primarily predicated on the values that drive the Coworking Movement, in direct and deliberate contrast to a more traditional relationship predicated on renting space from a landlord.' Kara Kavensky, President of Absolutely Consulting, shares how the coworking space 'The Refinery Center' in Marion (Indiana, US), created by Shelby Bowen (VP of Development at Envoy Inc.), is helping economic development of the city along with establishing a sense of community in local population. The space was developed with financial support from the Community Foundation and Indiana Wesleyan University. Jim Swan, owner of the building that was transformed, understood the concept and worked with The Refinery on their financial constraints of starting a coworking space. The Refinery offers low-cost monthly access without long-term leases. The amenities include Wi-Fi, a professional environment with other like-minded people, conference rooms, dedicated workspace, and an on-site cafe. According to Mr. Bowen, 'We listened to the needs of the community. We have not taken a cookie cutter approach to the coworking space. We offer very affordable monthly memberships starting at US$ 30/month and host a lot of meetings here at no charge. We are also a community center in addition to a work space.' Entrepreneurial events at The Refinery are facilitated by Indiana Wesleyan University with the help of the grant from Lilly Endowment. Carol Brown, Associate Dean of Life Calling & Career at Indiana Wesleyan University, says, 'This program is funded through the Lilly Endowment's "Accelerate Indiana" grant, which seeks to encourage entrepreneurial activity among students and local entrepreneurs. We fund internships, even if the company is a student-run business with the goal of creating jobs in Indiana.' Read on...
Mohammad Anas Wahaj | 14 mar 2017
Seeking customer loyalty is a challenge that every business faces. But to achieve success at it consistently, requires precise understanding of what customers want and provide it to them. Hotels are utilizing big data analytics to gain insights into which amenities help them attract and retain customers. According to Anil Kaul, CEO of Absolutdata, which provides marketing and customer analytics to hotels, 'We want to help hotels determine which free amenities give them the best chance to boost their hotel's appeal, increase sales, and improve customer satisfaction.' He explains two scenarios that hotels deal with while attracting customers - (1) 'When the customer first begins to seek a hotel. You want to offer a free amenity package that will convince him or her to choose your hotel over many other possibilities.' (2) 'Providing a great customer experience to your guest during his or her stay. Part of this customer satisfaction is achieved by offering the right free amenities. If you do this well, the guest is likely to return.' Based on Mr. Kaul's research and analytics on different types of hotels, Wi-Fi is at the top of guest's expectations, followed by free bottled water. To gather the data and compute a hotel's amenity analytics, the software uses a methodology that taps into the hotel's reservation system and then combines this data with survey data from customers on amenities and other elements of their stays. Read on...
How big data analytics help hotels gain customers' loyalty
Author: Mary Shacklett
Mohammad Anas Wahaj | 07 mar 2017
Richard Howells, Vice President of Solution Management for Supply Chain at SAP, says, 'New technologies get the most press before they reach maturity, part of a phenomenon Gartner calls the hype cycle. When people stop talking about new innovations...is just about the time they get deployed in a meaningful way.' Following are 7 supply chain developments he expects in 2017: (1) IoT will begin to disrupt the extended supply chain (There are 6 billion IoT devices in use today, and there will be 21 billion within the next three years). (2) 3D printing will begin to revolutionize R&D and manufacturing (Worldwide sales of 3D printers doubled in 2016, and 6.7 million will ship in 2020. While only seven percent of companies use additive manufacturing to produce end products today, 31% use it for prototyping, and 42% will rely on 3D printing for mass manufacturing in the next few years). (3) Robotics and augmented reality will infuse manufacturing (Robotics use will grow by 10% a year over the next 10 years. In some industries, robots will soon handle 40% of manufacturing). (4) Autonomous vehicles and drones will become proof of concept (In October 2016, Uber's self-driving truck made its first autonomous delivery...Amazon, for one, is actively pursuing 30-minute delivery, and companies from Google to Walmart are also investigating drones). (5) Cybersecurity needs will drive new technologies such as blockchain. (6) New Big Data tools will drive predictive analytics (With the emergence of IoT, Big Data is just getting started. That will drive a critical need for predictive analytics in 2017). (7) Focus on customer centricity and product individualization will only increase (Fully 90% of companies believe their customers value or strongly value individualized products. But 3/4 say it's hard to get a clear understanding of what customers are willing to pay for). Read on...
Mohammad Anas Wahaj | 25 feb 2017
'Drop Shipping' is a practice adopted by retailers where orders are shipped directly from the supplier's warehouse. It gives retailers opportunity to provide more products on their website without keeping them in stock, thus saving on inventory. Some analysts predict that drop shipping will be a mainstream process this year. According to a retail industry survey by SPS Commerce, 40% of respondents said they expect more drop-ship vendors in 2017. This will also benefit logistics companies as small suppliers and manufacturers often outsource tasks like inventory management, shipping etc to them. Josh Miller, VP of business development at CTL Global Inc, says, 'The (supplier) gets the audience, the retailer gets the sales. Drop shipping accounts for about 20% of CTL's revenue, compared with 5% five years ago.' The downside of drop shipping is that retailer has to give control of inventory management, shipping etc to third parties, while in case of wrong orders retailers are still on the hook. Nikki Baird of Retail Systems Research LLC, that conducted the survey for SPS, says, 'It's a big trust issue. Heavy, bulky things are better to ship from the supplier. But the problem is that the retailer then doesn't have control or visibility as to how that process is going.' Moreover, retailers also run the risk of turning suppliers into rivals by sharing customer data. Moreover, number of manufacturers are themselves turning to ecommerce to sell directly to customers. Following are some expert comments on the dynamics of online retail - (1) Irv Grossman, EVP at Chainalytics: 'Retailers are looking at Amazon and saying I may miss an opportunity. They're concerned about market share.' (2) Cathy Morrow Roberson, head analyst at Logistics Trends & Insights LLC: 'Managing capacity as drop-ship orders ebb and flow could pose a challenge for logistics companies.' (3) Frank Layo, retail strategist at Kurt Salmon: 'The practice (drop shipping) also costs more than buying items wholesale, because logistics and delivery get baked into the price.' Read on...
The Wall Street Journal:
'Drop Shipping' Looks Set to Go Mainstream as More Retailers Get on Board
Author: Jennifer Smith
Mohammad Anas Wahaj | 23 feb 2017
Society continues to face challenges to construct affordable, high-quality, innovative and future-focused built environments. Many building processes are sub-standard and obsolete, with sustainability concerns. Current research on integration of digital technologies within architectural and construction processes promises substantial contributions to sustainability and productivity. Research connections between diverse fields like architecture, structural design, computer science, materials science, control systems engineering, and robotics are required. Researchers during the American Association for the Advancement of Science (AAAS) 2017 reveal latest developments in digital fabrication in architecture at 1:1 building scale. They explain successful integration of digital technologies in design, planning, and building processes to transform the building industry. (1) On Site Digital Fabrication for Architecture: Prof. Jonas Buchli, Agile and Dexterous Robotics at ETH Zurich (Switzerland), proposes a radical focus on domain specific robotic technology enabling the use of digital fabrication directly on construction sites and in large scale prefabrication. (2) The New Mathematics of Making: Prof. Jane Burry, Director of the Spatial Information Architecture Laboratory at RMIT University in Melbourne (Australia), explores how these opportunities (Digital computation; Linking of design attributes to extraneous factors; Mathematical design models etc) for automation, optimization, variation, mass-customisation, and quality control can be fully realised in the built environment within full scale construction. (3) Building Materials for 3D Printing: Prof. Ronald Rael, Architecture at University of California at Berkeley (USA), reveals the development of new materials that can overcome the challenges of scale and costs of 3D printing on 1:1 construction scale. He demonstrates that viable solutions for 3D printing in architecture involve a material supply from sustainable resources, culled from waste streams or consideration of the efficiency of a building product's digital materiality. Read on...
ETH Zurich Global News:
Digital Fabrication in Architecture - The Challenge to Transform the Building Industry
Author: Rahel Byland Skvarc
Mohammad Anas Wahaj | 12 feb 2017
Although simulations and branching scenarios are valuable online training tools, but 'Virtual Reality' is a step ahead and provides learners ability to seamlessly immerse themselves into the learning environment without distractions. Christopher Pappas, founder of eLearning Industry, shares ways to use virtual reality (VR) in online training - (1) Take The Risk Out Of Compliance And Safety Online Training. (2) Allow Corporate Learners To Perfect Their Approach. (3) Offer Online Training For The Masses. (4) Prepare New Hires For Professional Success. (5) Provide Mistake-Driven Learning Opportunities. (6) Transport Corporate Learners To Another Locale. Read on...
Mohammad Anas Wahaj | 28 jan 2017
Creating long-term and sustainable partnerships between businesses and nonprofits, can play a valuable role in tackling social challenges facing communities. Hussein Farah, founder and executive director of New Vision Foundation, explains how nonprofits can build partnerships with corporations and derive benefits from these meaningful relationships for the communities they serve - (1) Have a strong and relevant mission that provides distinctive value to the community and relates to the values of a corporate partner and identifies it as a significant contributor. (2) Leadership of nonprofits should effectively and compellingly communicate the mission to the corporate partner. Strong marketing effort is required that embodies the mission and displays business sense. (3) Nonprofits should create a solid board that assists in dissemination of its value proposition on a peer-to-peer basis. Boards that include corporate members would be more effective in negotiating the terms of partnerships. Moreover, nonprofits must be clear in their expectations from corporate partners, who should beforehand know their resource commitments. Read on...
Mohammad Anas Wahaj | 21 jan 2017
Building a successful CSR (Corporate Social Responsibility) program requires commitment, consistency, continuity and culture within an organization. Claudia Schiepers, Chief Marketing Officer of Greystone and winner of The CMO Club's CSR Award'2016, helped promote a culture-centric curriculum for CSR and shares valuable insights to inspire marketing leaders to develop a successful CSR program in their organizations - (1) Start from the ground up: 'We try to engrain it in everything that we do. I would say start small, test and grow it from within the company...It's all about making suggestions, trying things out and then rolling them out across the organization.' (2) Assemble a top-notch toolbox: 'We gave them a lot of tools. We have employee engagement data that we share with managers, (teaching) them how to have difficult conversations and great conversations. So, it's all about empowering the managers in your company to use the system, having your employees feel like they are involved in it.' (3) Give instruction: Developed a culture book that outlines standards of behavior when it comes to being charitable. 'We say, at Greystone, (caring) means being interested in or concerned about the wellbeing of others. It means that you actively listen, keep an open mind, seek to understand, treat people with respect and kindness. We don't allow yelling. Mentor others, foster other's development, lead by example.' (4) Know that if you build it, they will come: Strikes a balance between good PR and sincerity by publicly commending their local offices' good deeds on social media platforms. 'I think that makes the story more powerful because it is not a corporate driven initiative. We don't do it to get a pat on the back afterwards. I think that's the key for our social responsibility. That is the biggest return on the investment, that we get people that care about other people to join our company.' Read on...
Mohammad Anas Wahaj | 09 jan 2017
According to eMarketer's Sept'2016 ad spending forecast, digital will overtake TV ad spending this year for the first time (Digital - US$ 72.09 billion; TV - US$ 71.29 billion), and will represent 36.8% of US total media ad spending. Scott Symonds, MD of media at AKQA, 'In 2017, digital will become the single largest media investment channel, passing television for the first time...digital is no longer just a test or an innovation budget. It needs to be expected to work as hard or harder vs. every other investment channel.' Experts from across the industry suggest ways digital marketing will evolve in 2017 - (1) Artificial intelligence gets smarter: Tom Edwards, Chief Digital Officer at the agency within Epsilon, says, 'From leveraging machine learning to accelerate sentiment analysis and domain-specific insights to cognitive computing solutions that automate experiences without human intervention to the rise of voice-based user experiences that will continue to expand in 2017 to deep learning that will fundamentally change how brands approach SEO to predictive API's that will expose access to predictive models to further create seamless experiences for consumers, cognitive and intelligent systems will play a key role in how we approach marketing in 2017.' (2) Measurement takes priority: Brigitte Majewski, an analyst at Forrester Research, says, 'The fundamentals have to take priority. Measurement and data are the only way for marketers to get control of a situation they have completely lost control of. They have to understand what part of the mix is truly working and that takes measurement...Once marketers get control of their measurement and connect the dots with the data, they can really start to do orchestrated branded experiences told in a sequence that makes sense.' (3) Turning up the volume: Audio-driven experiences will become mainstream in 2017. Trevor Guthrie, Co-founder of Giant Spoon, says, 'Giant Spoon believes the rise of voice-based AI - Google Home, Amazon Echo, etc. - will have a profound impact on computing and how consumers interact with technology. The next wave of computing will be driven by voice, and clients need to begin to build a voice strategy for their brands.' (4) Reestablishing trust: Forrester's Majewski says, 'The biggest difference in 2017 is going to be a focus on transparency. But now marketers have gotten much smarter and they can legitimately ask hard questions that they might have let pass before. They will really dig into the numbers from agencies and platforms - they are not going to let things slide.' (5) A clearer picture for digital video: AKQA's Symonds says, 'As video becomes untethered from television in terms of its primary investment opportunity or most likely viewing occasion, we believe it will continue to have exciting emerging opportunities in and around the space including augmented and virtual reality, 360 video, live video, programmatic innovations, etc.' (6) Social pivots back to sharing: David Song, MD at Barker, says, 'It will no longer be about paid, earned, and owned social but rather, how a consumer engages with a brand through its social channels. Social channels are and will continue to become more important than client websites.' Epsilon's Edwards says, 'Marketers will need to shift their strategy from one of personification of the brand to a seamless experience that is about simplifying and predicting needs while also empowering consumers to create their own stories.' (7) Cleaning up the landscape: Anna Bager, SVP and GM of mobile and video at Interactive Advertising Bureau, says, 'The days of static display banners are numbered. Consumer expectations for rich, relevant ad and content experiences are growing.' Gabe Weiss, digital experience and transformation leader at SapientNitro, says, 'I feel like there's been a significant maturation of understanding within leadership that the old-normal approaches no longer work. They have bought into designing approaches that work for their brand and for their customers. They will be more committed to delivering their messaging in all forms of content and fragmented channels to make an impact. They will offer engaging and unique experiences and not just yell at their audiences.' (8) Getting the message: IAB's Bager says, 'In the U.S., the rapidly evolving messaging space represents a tremendous opportunity beyond social media platforms to engage with consumers in a native way.' (9) Mobile evolves into people-based marketing: Kurt Hawks, SVP of cross-device and video, at Conversant, says, 'Additionally, as the digital and physical worlds continue to converge, a focus will be placed on the intelligent and responsible use of location data to better understand and anticipate consumer needs and track in-store visits. Mobile will finally evolve from a device to a set of behaviors that inform people-based marketing.' Giant Spoon's Guthrie says, 'We're finally starting to see UIs truly built for mobile instead of just converting what we're used to on desktop. I don't simply mean 'make it vertical' or 'make it short and snackable.' A few companies are completely reworking the structure - not just the details of the content pieces.' (10) Looking towards a post-broadcast, post-digital future: Giant Spoon's Guthrie says, ' The digital media bubble will pop this year. Media will bifurcate into massive networks that roll up many properties for scale and synergy or niche publications charging premium prices based on the strength of their brand. Media's middle class of independent venture-backed digital publishers will either get acquired or fold.' Jeff Liang, Chief Digital Officer at Assembly, says, 'Digital marketers can no longer think inside the box to reach and engage with digital consumers effectively. They must quickly adapt to how audiences are using new forms of digital media to avoid getting lost in the sea of change.' Read on...
Mohammad Anas Wahaj | 26 dec 2016
According to the recent report by Global Impact Investing Network (GIIN), 'Impact Investing Trends: Evidence of a Growing Industry' (Authors: Abhilash Mudaliar, Aliana Pineiro, Rachel Bass), impact investors have demonstrated strong growth, collectively increasing their assets under management (AUM) from US$ 25.4 billion in 2013 to US$ 35.5 billion in 2015, a compound annual growth rate of 18%. The report provides compelling evidence that impact investing industry is growing, both in terms of size and maturation. More than 60% of AUM was allocated to emerging markets each year, and the top three sectors receiving the highest proportions of AUM were microfinance, other financial services and energy, respectively. Read on...
Mohammad Anas Wahaj | 26 dec 2016
10 biggest architecture trends of 2016 - (1) Minimalist interiors finished with cool-toned marble, uniform woodwork and block coloured walls (2) Prefabricated houses for long-term housing (3) Co-living and co-working spaces, largely targeting millennials (4) Shingles (Concept is broadly utilized with a huge variety of materials and scales demonstrating the versatility of the cladding) (5) Charred timber (Japanese wood-preservation technique known as shou sugi ban has been used to blacken the cladding of hotels, houses, pavilions and studios the world over) (6) London house extension boom resulting from inclination towards contemporary design (7) Sustainability (8) Backyard and garden studios are constructed by architects, designers, writers and artists as they seek to maximize limited inner city space (9) Skinny skyscrapers (10) Carbon fibre is tipped as building tool of the future. Experts suggest that when the material is combined with robotic construction techniques is paving the way for a fourth industrial revolution. Read on...
Mohammad Anas Wahaj | 21 dec 2016
To identify common traits of entrepreneurs, Harvard Business Review (HBR) and Ernst & Young (EY) recently collaborated on a study to review three decades of entrepreneurship and 9200 winners of EY's Entrepreneur of the Year program. According to the report, winners over the past 30 years created more than 14 million jobs and contributed roughly US$ 1 trillion of revenue to the U.S. economy. Moreover, 46% percent of the winners were the founders of more than one business. The report found the following charachteristics that entrepreneurs share - (1) They recognize talent. (2) They are focused on growth. (3) They do their research. (4) They're purpose driven. Read on...
All Successful Entrepreneurs Share These 4 Qualities
Author: Nina Zipkin
Mohammad Anas Wahaj | 10 dec 2016
Gifts are an important tool for initiating and enhancing relationships, and it is often challenging to give just the right gift that connects well. According to Prof. Cassie Mogilner Holmes of University of California at Los Angles, 'What we found was that the recipient feels more connected to you as the gift giver after receiving an experiential gift rather than a material one.' Prof. Holmes is a social psychologist and marketing expert, and is a world's leading authority on consumer happiness. She says, 'Everbody wants to be happy. But we don't often know the best path towards that end. I am trying in my research to understand what are the ways we can think and behave that are most conducive to our happiness and well-being.' Prof. Holmes has been exploring the relationship between happiness, time and money for almost a decade. Her studies found that when your attention is drawn subconsciously to time, you are more motivated to engage with other people, and that will make you happier than if you were thinking about money. Prof. Holmes and her UCLA colleague, Prof. Hal Hershfield, posed the question of what people want more of - time or money - to thousands of Americans representing different ages, socio-economic levels, occupations, races and genders. According to her, 'We found that those who were more likely to choose having more time over having more money were happier.' She further explains that the psychology around these choices has less to do with age than with people's outlook on their futures and on time. She adds, 'Younger people who feel their time is expansive and that they have a very long future in front of them will enjoy greater happiness from extraordinary experiences. For older people who feel their time is limited and fleeting, they feel a need to savor the moment. These people extract happiness from even mundane, ordinary experiences, like having coffee with a friend.' Read on...
UCLA marketing prof probes what will make you happier
Author: Cynthia Lee
Mohammad Anas Wahaj | 02 dec 2016
The rising tide of mobile devices brought with it the deluge of apps. As of June 2016, there were an overwhelming 4.2 million apps available on both the Google Play Store and Apple App Store. For an app to stand out among such a crowded app-place is not an easy task. Dima Rakovitsky, Founder and CEO of ROKO Labs, shares the following best practices for an aspiring app inventor - (1) Know Your Audience: Diligently figure out who will use the app and what problem will it solve; Focus on customer aesthetics based on the platform (iOS or Android) they use and design accordingly. (2) Validate Before You Build: Research the competitive market; Do customer surveys; Draw user flows; Professionally design the app and make a clickable prototype; Share it with potential users and seek suggestions and feedback. (3) Marketing And User Acquisition Plans: Make sure app has viral components; Create a marketing strategy supported with strong tactics; Have a marketing and advertising budget. (4) Make a Positive First Impression: It is key to acquiring and retaining users; Have a well-designed and memobrable app icon with short engaging description; To reduce churn rates, make sure your app is fast, intuitive and allows anonymous usage. (5) Easier is Always Better: Keep your app simple and accessible to everyone; Have understanding of UI (User Interface) and UX (User Experience). (6) Consistency Is Key: The app should look and feel cohesive; Have unified color scheme and consistent typography; Make sure your app takes advantage of the unique features and norms of each mobile platform, but still coordinates with your website. Read on...
Mohammad Anas Wahaj | 23 nov 2016
Research by Prof. Ali Besharat of University of Denver, 'The Effect of Review Valence and Variance on Product Evaluations: An Examination of Intrinsic and Extrinsic Cues' (Other authors - Ryan Langan of University of San Francisco; Sajeev Varki of University of South Florida), explores how the rating and variance in reviews affect the decision process. Researchers find that the nature of products, a product's brand, reviewers' credibility, and the structure of online customer reviews all significantly impact consumer decision-making and, subsequently, a company's bottom line in terms of sales. According to Prof. Besharat, 'In the case of high online review variance, we find that when brand equity is high - Nike for example - then reviewer credibility does not influence consumers' purchase intentions. But when a consensus among reviews exists (low variance), reviewer credibility emerges as a significant diagnostic cue.' Another research by Prof. Ana Babić Rosario of University of Denver, 'The Effect of Electronic Word of Mouth on Sales: A Meta-Analytic Review of Platform, Product and Metric Factors' (Other authors - Francesca Sotgiu of Vrije Universiteit Amsterdam; Kristine De Valck of HEC Paris; Tammo H.A. Bijmolt of University of Groningen), confirms Prof. Besharat's findings and demonstrates that a wide variance in consumer opinions has a detrimental effect on product sales. According to Prof. Rosario, 'The reason why variability of reviews can harm sales more than negativity is that electronic world of mouth, in theory, is a way for consumers to reduce risk and uncertainty, which does not happen when other consumers' feedback is highly inconsistent.' Prof. Rosario's findings should be of interest to product and platform managers, internet and social media monitoring agencies. Read on...
University of Denver News:
What Brand and Marketing Managers Need to Know About Online Customer Reviews; How They Influence Purchase Decisions
Author: Amy Jacobson
Mohammad Anas Wahaj | 15 nov 2016
One of the ways in which health systems, particularly in the resource-starved developing countries, can improve is by applying concepts that make social enterprises successful. Health systems serving the most vulnerable, bottom of the pyramid market, can learn from social enterprises that make challenging markets work better. Yasmin Madan, global marketing director at Population Services International (PSI), explains in an interview with Lizzie Cohen, that adapting the model of a social enterprise can ensure a more sustainable health system that continues beyond donor funding. She says, 'Any successful business has the consumer right at the center as its main audience and it generates value for the consumer as well as the market.' According to Ms. Madan, 'Social enterprises by addressing failures, by putting consumers at the center, by generating value, are strengthening health systems, or put simply - making markets work better.' Read on...
Mohammad Anas Wahaj | 06 nov 2016
Organizations should continue to seek innovation to stay relevant and competitive. Achieving continuous innovation is challenging and organizations have to create an innovation-driven culture as a long-term strategy to sustain it. Manoj Vig, Enterprise Architect at Shire Pharmaceuticals, shares his views on innovation, how to establish innovation teams and what should be done to ensure innovation success - (1) Organizational DNA: Innovation is neither a project nor a process, it needs to be part of organizational DNA; Focus on teams and groups. (2) Collaboration is important: Collaborative environment helps innovation to sustain and succeed in innovation; Collaboration develops and refines innovative ideas. (3) Find zoom out team members: Include members with diverse set of skills and competencies, and those who can zoom out to get a bigger picture. (4) Innovation teams and performance engines: Innovation teams are necessary to provide performance teams to work better. Better coordination and partnership between the two for seamless and continuous innovation. (5) A crazy man's idea: Nurture ideation in organizations even though ideas may initially seem difficult or impossible; Encourage sharing and free flow of ideas. (6) Glocalization and reverse innovation: Innovation teams should learn from these concepts and seek out what has been successfully done as a prlect for a specific use case at one place and reconfigure it for a larger user base within the organization. (7) Innovation catalysts and champions: Look for innovation catalysts that will become part of a dedicated team and then find innovation champions within existing and potential user communities to work with catalysts to solidify the innovation-based culture thinking within the organization. (8) Don't worry, be crappy: As Guy Kawasaki once said the phrase to make a point that when something is done to be radically different and better, waiting for perfection is not a good strategy; Deliver products and services quickly and without fear of failure. Such products/services can be tagged as beta or in incubation for user awareness. This helps engage with users early, set the right level of expectations and create a positive feedback loop. (9) Don't just focus on problems: Solving current problems with users provide quick wins and credibility boosters and must be used by innovation teams to expand their focus and work towards identification of opportunities for users that did not exist before; Focus on creating new opportunities and disrupting current ways of doing things. Read on...
Mohammad Anas Wahaj | 03 nov 2016
There is always a difference of opinion when it comes to whether entrepreneurship is an inherent trait or it can be taught and learned. Both sides seem to have reasonable examples to justify their perspective. For those who value the concept of entreprenuership in business or are contemplating to tread entrepreneurial path, here are some good reads - (1) 'Stay Hungry, Stay Foolish' by Rashmi Bansal (2) 'Creativity Inc.' by Ed Catmull (3) 'Zero to None' by Blake Masters and Peter Thiel (4) 'Business Start Up 101' by Chris Gattis (5) 'The Four Hour Work Week' by Timothy Ferriss (6) 'How To Win Friends And Influence People' by Dale Carnegie (7) 'The Life and Business Lessons of Warren Buffett' by George Ilian (8) 'The Fountain Head' by Ayn Rand (9) 'Think and Grow Rich' by Napoleon Hill. Read on...
Mohammad Anas Wahaj | 30 oct 2016
According to Mapp Digital's whitepaper, 'Consumer Views of Email Marketing', more than 98% of consumers, aged 18-64, check emails at least one to three times a day. The survey for whitepaper included a national panel of 1765 consumers between the ages of 18-64, 70% had a household income of over US$ 35000 and participants were evenly distributed by gender and geographic region. The findings point out the importance of age in receptiveness of email marketing. Nearly 2/3rd (64%) of respondents aged 55-64 said that they will delete email, as opposed to 38% of 18-24 year-olds. 91% aged 18-24, and 83% aged 25-34 said that they use smartphones to view emails. It suggests that for effective email marketing, optimize for smartphones. Mike Biwer, CEO of Mapp Digital, says, 'Email marketing is still very relevant to brands, specifically for the hard-to-reach 18-34 year-old audience. The survey results suggest that this group of consumers are engaging with fewer brands on a more intimate level. Millennials and Gen Y are strong audiences for email marketers, but now more than ever, the email marketing experience needs to cater to what they want and how they want it.' Read on...
Email marketing still vital for targeting young US consumers
Mohammad Anas Wahaj | 14 oct 2016
To avoid customer attrition in the digital age requires multiple service-centric online strategies. Cynthia Johnson, Managing Partner & Director of Marketing for RankLab, provides some of them - (1) Use Your Customers' Information to Benefit Their Experience: Ensure effective customer data collection using browser cookies, account login data in CRM and marketing automation tools; Personalization; Targeted product recommendations, send event triggered messages and auto-fill forms. (2) Make it Easy for People to Reach You: Display contact information prominently; Use multi-channel chat solutions. (3) Have a Mobile-Friendly Website Design: Mobile digital media time with 51%, exceeds desktop and other devices combined; Use responsive web design; (4) Pay Attention to Reviews and Rants on Social Media: Ensure monitoring of social chatter about your business; Use tools that can provide you with alerts when there are comments, reviews and inquiries on social media. (5) Above All Else, Listen and Respond. Read on...
Mohammad Anas Wahaj | 06 oct 2016
According to the IMF's October 2016 'World Economic Outlook' report, global economic growth will remain subdued this year (3.1%), as US slowdown and Brexit happened. Moreover, persistent stagnation in advanced economies could further give rise to anti-trade sentiments and populist call for restrictions on trade and immigration. Maurice Obstfeld, IMF chief economist, says, 'Such restrictions would hamper productivity, growth and innovation. t is vitally important to defend the prospects for increasing trade integration. Turning back the clock on trade can only deepen and prolong the world economy’s current doldrums.' IMF suggests - For near term growth, central banks in advanced economies should maintain easy monetary policies; Governments should spend more on education, technology, and infrastructure to expand productive capacity while taking steps to alleviate inequality; Many countries also need to counteract waning potential growth through structural reforms to boost labor force participation, better match skills to jobs, and reduce barriers to market entry. IMF found emerging markets and developing economies as the only bright spots, where growth will accelerate for the first time in 6 years to 4.2%. They are expected to grow 4.6% next year. Although, prospects differ sharply across countries and regions. Growth in emerging Asia, and especially India, continues to be resilient. India's GDP is projected to expand 7.6% this year and next, the fastest pace among the world's major economies. Sub-Saharan Africa's largest economies continue to struggle with lower commodity revenues, weighing on growth in the region. While, economic activity slowed in Latin America, as several countries are mired in recession, with recovery expected to take hold in 2017. Middle East remains in challenging conditions due to subdued oil prices, civil conflicts and terrorism. Commenting on the policy challenge, Mr. Obsfeld concludes, 'By using monetary, fiscal, and structural policies in concert - within countries, consistent over time, and across countries - the whole can be greater than the sum of its parts.' Read on...
Mohammad Anas Wahaj | 30 sep 2016
According to the first experts' poll conducted by Thomson Reuters Foundation (poll2016.trust.org), in partnership with Deutsche Bank, the Global Social Entrepreneurship Network (GSEN) and UnLtd, the top nations for social entrepreneurs are - (1) United States (2) Canada (3) United Kingdom (4) Singapore (5) Israel (6) Chile (7) South Korea (8) Hong Kong (9) Malaysia (10) France. The poll included survey of about 900 social enterprise experts (social entrepreneurs, academics, investors, policy-makers and support networks) in the world's 45 biggest economies. 85% of the experts said the number of social entrepreneurs finding ways of combining business with social purpose was growing although there is little data tracking the sector. According to Natalia Oberti Noguera, founder of Pipeline Angels (US), 'If someone's interested in financial return on investment, that's not a good fit. We're about so much more. We're about doing good, we're about doing well.' Nearly 60% of the experts surveyed cited three major challenges in the growing sector - people do not know what social entrepreneurs do, which makes raising funds difficult and selling to governments is an uphill struggle. Anne Katrine Heje Larsen, founder and CEO of KPH (Denmark), says, 'There are still too many people who view social entrepreneurs as a bunch of hash-fuming utopian people in knitted sweaters. They couldn't be more wrong.' According to Ayşe Sabuncu, co-founder of Impact Hub Istanbulin (Turkey), 'People do not understand social entrepreneurs create money making businesses like any other business, and they question the philosophy of it if the entrepreneur ends up making profit.' Andy Carnahan, a Swedish social entrepreneur, says, 'A greater understanding of how for-profit businesses can be a driving force for social good would help. We need this (awareness)...among the public who don't realize how much good can be done by a for-profit business that has a social good built into its business model.' Poll found that India, Philippines and South Korea are among those where social entrepreneurs were finding it easiest to access investment. According to Prashanth Venkataramana of Essmart Global, 'A lot of people see India as an opportunity overseas, especially in America.' Bank of America's 2016 survey found that 85% of millennials were interested in having a social impact through investment. It also found that women were more interested in impact investing than men. Peetachai 'Neil' Dejkraisak of Siam Organic (Thailand) says, 'World-class social enterprises are run by women in Asia. They do a really good job balancing the social and financial objectives.' Rosemary Addis, chair of Impact Investing Australia, says, 'Individual enterprises are finding a niche and finding they can engage the market and sell their products or services. But as a sector, the concept of social enterprise and purpose-driven business has not yet got mainstream awareness. That's a job ahead to educate the public.' Read on...
Mohammad Anas Wahaj | 27 sep 2016
Patient focused care delivery driven by technological advancements is bringing transformations in healthcare ecosystem. Experts in a panel discussion 'Future of Health Care: Technology Innovations' shared their views on high level technology that has been in use in Pittsburgh (USA) as biotechnology, informatics and medicine are used to create a more responsive system for both consumers and health providers. Dr. Rasu Shrestha, Chief Innovation Officer and EVP of UPMC Enterprises, said, '...we'll go with a 'best of breed' approach, solutions that work best toward specific ends and, while doing so, invest in interoperability, or making those systems talk to each other. This was 10 years ago. No one else was doing this; this was before 'interoperability' became the buzzword that it is today in the industry.' According to Prof. Don Taylor, Assistant Vice Chancellor of University of Pittsburgh, 'The future of health care coordination rests, in part, with analytics, the ability to make data useful in the same way companies like Amazon and Netflix are able to suggest what movies to watch or what products to buy.' Ellen Beckjord of UPMC Health Plan, while describing the current state of digital health information, used the analogy of the cookbook that contains unorganized list of all ingredients that are disaggregated from recipes. She said, 'Just because it's integrated and all in one place doesn't mean it's actionable.' Kim Jacobs, VP of consumer innovation for UPMC Health Plan, said, 'Close to 60% of UPMC's telemedicine encounters led to emergency room avoidance.' According to Prof. Steven Handler of University of Pittsburgh's School of Medicine, 'Telemedicine increases access to qualified professionals and reduces variability of care. It hits the sweet spot of medical devices, informatics and clinical medicine.' Read on...
Pittsburgh Business Times:
Analytics key to future of health care coordination, panel says
Author: Lydia Nuzum
Mohammad Anas Wahaj | 19 sep 2016
Comedian John Oliver in one of the recent episode of 'Last Week Tonight' on HBO described journalism industry's 'dire straits' and analyzed the depressing financial state of journalism in 2016 and the subsequent tendency for news outlets to focus on stories that get the most traffic. Moreover, he emphasised the importance of traditional reporting via newspapers that often get quoted by TV news channels. He says, 'It's pretty obvious without newspapers around to cite, TV news would just be Wolf Blitzer endlessly batting a ball of yarn around. The media is a food chain which would fall apart without local newspapers.' On the current financial situation of journalism, falling print advertising revenue and digital journalism, he says, 'A big part of the blame for this industry's dire straits is on us and our unwillingness to pay for the work journalists produce. We've just grown accustomed to getting our news for free and the longer that we get something for free, the less willing we are to pay for it...If journalists are constantly required to write, edit, shoot videos and tweet, mistakes are going to get made. It is clearly smart for newspapers to expand online. But the danger in doing that is the temptation to gravitate towards getting the most clicks.' Read on...
John Oliver examines journalism's many problems: The blame is on us
Author: Adam Gabbatt
Mohammad Anas Wahaj | 09 sep 2016
Journalism industry faces numerous challenges and is going through a difficult phase, as comedian John Oliver recently expained in his show on HBO. But there is also a ray of hope as the demand for good content is high and there is need of editorial skills. Journalism aspirants, who aspire to be Bob Woodward or Carl Bernstein, may not feel happy about it though. Kayvan Salmanpour, chief content officer at digital marketing agency iCrossing, says, '99% of brands struggle with content because they publish without an editorial mindset. So I think (editorial is) hugely important - now more than ever.' He explains what brands can learn from media companies when it comes to content and suggests the following - (1) Hire an editor in chief who can have ultimate control of the content produced and can assure it's quality. Content represents the brand. (2) Create an editorial mission statement before anything else. There is need for clarity of objectives and everyone in the organization should be aligned to it. (3) Put the audience first as compared to brand/product first. Create content that is audience focused. Find the intersection between what the audience wants to read and what the brand stands for. (4) Don't try to be everything to everyone. Good content fits seamlessly between the brand and its target audience. It may even require conducting psychographic studies of the target audience and thinking about their habits in excruciating detail. Read on...
Journalists, take heart - Content marketing needs you
Author: Lisa Lacy
Mohammad Anas Wahaj | 07 sep 2016
Students have to be taught about entrepreneurship and innovation early in their educational stage to better prepare them to adapt to the technology-enabled disruptive future of the world of work. Experts predict that technology is transforming work so rapidly that 40% of the jobs of today will disappear within 10-15 years. According to The Committee for Economic Development of Australia (CEDA), advances in computer technology and automation would result in around five million job losses. Prof. Stephen Martin, Chief Executive of CEDA, says, 'If we do not embrace massive economic reform and focus on incentivising innovation, we will simply be left behind in an increasingly competitive global marketplace.' Jo Burston, serial entrepreneur and founder of small business platform 'Inspiring Rare Birds', has created an education venture 'Phronesis Academy' with Prof. Richard Seymour of Sydney Business School. According to Ms. Burston, 'Phronesis in Greek means practical wisdom - it's all about learning in action. There is actually no right or wrong and there is no pass or fail because we know that in entrepreneurship those things don't actually exist...We need to have young people thinking as entrepreneurs as they go into businesses because businesses are wanting to innovate. So the people who can innovate and create new revenue lines are the ones who are going to be highly regarded in their positions and I think there's an entrepreneurial mindset around being able to do that.' Jayant Prakash, business teacher at Darwin High School, says, 'It's very important to know entrepreneurial skills because every day we get up in the morning and we are dealing in the world of business, we want our young people to be innovative in nature and this subject gives them the chance to develop ideas.' Read on...
Why High School Is The Best Place To Nurture Our Entrepreneurs
Author: Cathy Anderson
Mohammad Anas Wahaj | 31 aug 2016
Technology-driven transformations are clearly visible in human resources management. HR experts from Forbes Human Resources Council share their views regarding five areas where technology is impacting to make human resource practices more effective and efficient - (1) Digital Interviews Save Time And Money: Rohit Paul of Academy For Urban School Leadership, says, 'Digital interviewing allowed candidates to use whichever technology they preferred - phone, tablet or laptop - to record their responses and provided screeners with an opportunity to review on their own time. It saved my team hundreds if not thousands of hours.' (2) Everyone Can Connect Through Social Media: Ben Martinez of HireVue, says, 'Social media opened doors for human resources professionals years ago, allowing us to be more open and to connect with people in a different way...we use live-streaming apps like Periscope or Facebook Live for big meetings or Snapchat to share stories of our workdays.' (3) Paper Records Are Now Digital: Sarah O'Neill of Digital Trends, says, 'Technology has allowed everything from new hire paperwork to cases of discrimination to be easily trackable by including date/time stamps and reminders to help keep never-sleeping HR departments on track.' (4) More Focus Can Be Placed On Relationship Building: Angela Nguyen of Ad Exchange Group, says, 'With technology greatly helping to streamline (basic HR tasks)...professionals can now spend more time on what humans do better than machines. They can keep their ears to the ground, analyze what motivates employees, ensure that values from leadership align with the culture of the company, and refine ways to develop stronger and happier teams.' (5) Geographical Boundaries Are Eliminated: Sabrina McGrail of Techstars, says, 'It's now entirely possible to have a global team and talent pool...alignment to our values is stronger than it's ever been. That wouldn't be possible without tools like Slack and advanced video conferencing.' Read on...
Five Ways Technology Is Impacting HR For The Better
Mohammad Anas Wahaj | 28 aug 2016
The interactions and engagement of brands with their audience and customers now happens in real-time, thanks to social media and technological innovations. But the similar engagement with employees and worker is far off, and happens only through annual performance reviews or employee surveys. Michael Papay, Co-founder and CEO of Waggl, explains, 'Even organizations that really care about personal development typically run a 360-degree feedback process only every 3-5?...Most business and HR leaders agree that traditional methods of listening to and engaging with employees, while full of positive intent, have had little impact on driving business health, let alone business strategy. Yet, despite this shift in attitude, most organizations are still relying primarily on the annual survey to communicate with employees.' Waggl conducted a survey on its platform obtaining response from 575 people (business leaders, HR leaders and consultants) - 98% were positive about listening to employees and incorporating their ideas is critical to an organization's success; Only 38% were positive about hearing from employees once a year (via an annual survey) gives organizations the timely insights they need to be successful. Following were the response (526 answers, 7550 votes) about top human capital/people priority for 2016 - (1) Encouraging/engendering a growth/ownership mindset, we call it leadership at all levels. (2) Leadership development throughout the field, with a strong emphasis on personal accountability. (3) Agility, collaboration and trust. (4) Finding the right talent who are innovative and can take the organizations to the next level. (5) Influencing the company culture to have more authentic, people oriented people managers and reward and promote those who are successfully engaging their people, not the ones that get the best results but do not show the right leadership behaviors. Read on...
Business 2 Community:
The Importance of Developing a People Strategy that Supports Your Business Strategy
Author: Michael Papay
Mohammad Anas Wahaj | 26 aug 2016
Businesses work in ever changing environment and they have to effectively adapt to it for survival and success. Continuous learning and knowledge seeking approach can help owners and employees safeguard their business's future. Nowadays, with technology-enabled knowledge and learning available all the time online, they don't even have to leave their work and can get it whenever they have time. Flexibility and accessability are the strengths of online education. Currently, with a number of online initiatives by many education providers, the range of learning modules available in a number of diverse fields have multiplied. The choice is in the hands of the learner and acquiring new skills is just a click or tap away. Virtual Learning Environments (VLEs) provide courses on various topics of business, management, technology etc, and students can submit coursework, receive feedback and marks, and participate in duscussion forums with mentors and peers. Synchronised teaching allow students and teachers to connect and communicate in real-time from different locations. MOOCs have made massive progress since 2008, when they were first launched. Many traditional education providers have MOOCs as part of their online strategy. MOOCs incorporate various elements like forums, social networks, blogs, videos and written materials as part of their learning environment. With continuing advancements in communication technologies, MOOCs will also improve and transformation will also happen in their business model. Latest concept under research in online education is MiRTLEs (Mixed Reality Teaching and Learning Environments). The emphasis here is to enable students to virtually join a lecture through webcam. As the research in online education continues, there will always be availability of better learning environments that fulfil the needs of business owners and their employees. Read on...
Mohammad Anas Wahaj | 25 aug 2016
Entrepreneurs thrive in regions and countries that have developed better and facilitating entrepreneurial ecosystem than others. According to Alberta's Center for Innovation Studies, Canada has the second-highest level of entrepreneurial activity in the world. Andrea Stairs, Managing Director of eBay Canada, provide five traits of successful online entrepreneurs shared by winners of eBay Canada's 'Entrepreneur of the Year' award - (1) They are strategic. They map out their growth. A recent BDC survey of Canadian entrepreneurs found that successful businesses are much more likely (71%) to have a strategic plan than less successful companies (46%). (2) They think globally from the outset. (3) They focus on niches to differentiate themselves from the competition. (4) They are passionate and resourceful. (5) They are resilient. They learn from failure and pivot in the face of obstacles. Read on...
Mohammad Anas Wahaj | 18 aug 2016
According to WordStream.com, 'Marketing analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). Understanding marketing analytics allows marketers to be more efficient at their jobs and minimize wasted web marketing dollars. Beyond the obvious sales and lead generation applications, marketing analytics can offer profound insights into customer preferences and trends. Despite these compelling benefits, a majority of organizations fail to ever realize the promises of marketing analytics.' It is imperative for marketers to overcome analytics related challenges and bring customers closer to the brands and serve each one of them in the best possible way. Ensuring better data quality, effective knowledge and skills to analyze data, focus and clarity of goals, collaborative approach and creativity, will provide what marketing analytics promises. In KPMG's 2016 Global CEO Outlook, 84% of CEO's indicated their concern about the quality of the data they use to make decisions. Moreover, Forrester Research noted that 58% of the work in a business intelligence initiative is spent on trying to find the right data and integrate it for analysis. Openprise released a study on marketing data management, noting barriers to data management success included - Poor data use/accessibility (54%); Poor data quality (44%); Poor database integration (37%). Study by Ascend found similar challenges to data-driven marketing, listing integrating data across platforms and enriching data quality and completeness as the top two challenges. Finding the right data and analyzing it properly and gain valuable insights is the key to effective data-driven marketing. This requires specialized knowledge and expertise for marketers. eMarketer points to an IAB study that found that 34.8% noted a lack of internal experience at the functional and operational level as a major obstacle to deploying and deriving value from data-driven marketing. Moreover, collaborative approach and focus are other critical factors required to get maximum results. Amar Doshi, VP of Product at 6sense, says, 'Marketing can't operate in a silo if the enterprise wants to be successful at data-driven marketing. It takes a team that includes resources across the organization to work together.' He adds, 'Marketers are also trying to do too much and, as a result, not doing anything well.' The key is to agree on performance goals and metrics. CMO Solution Guide suggests to always be testing and measuring. But in all these processes and focus, importance of creativity should never be forgotten. Robert Glazer, founder and managing director of Acceleration Partners, says, 'Marketing needs to do both, but too often it's choosing the data over creative. Focusing on creative doesn't mean ignoring data. In fact, data plays an important role in directing creative. Incorporating both data and creativity means maintaining a balance between insight-driven ideas and compelling execution. Smart marketers bring their creative team and data geeks together.' Read on...
Mohammad Anas Wahaj | 04 aug 2016
According to Wikipedia, 'Corporate Social Responsibility (CSR) became popular in 1960s and is a form of corporate self-regulation integrated into a business model. CSR policy functions as a self-regulatory mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and national and international norms.' While BusinessDictionary.com defines CSR as 'A company's sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship - (1) Through their waste and pollution reduction processes. (2) By contributing educational and social programs. (3) By earning adequate returns on the employed resources.' According to a Global CSR Study conducted by Cone Communications/Ebiquity, 91% of global consumers expect companies to do more than make a profit but also operate responsibly to address social and environmental issues. From integrating a social mission into cross-departmental activities to engaging in sustainability practices, there are myriad ways in which organizations can adopt both a good business and commerce-driven model. A new report from PSFK Labs, 'Impact Debrief', explores how brands can innovate around this decades-old concept of CSR to elevate their social impact and influence. The study provides 5 key ingredients for creating social innovation - (1) Identify And Unite Around A Relevant Social Problem. (2) Promote Cross-Functional Integration. (3) Incentivize And Empower Employees. (4) Create Value By Maximizing Sustainability Efforts. (5) Deliver Transparency. Read on...
The 5 Fundamentals For Corporate Social Innovation
Mohammad Anas Wahaj | 28 jul 2016
Packaging is an important component of product handling, logistics, advertising, marketing and selling. There are variety of materials that are currently in use for packaging. Environmental challenges arise due to the waste generated through discarded packagings. The packaging industry is exploring better materials that can reduce environmental footprint. In spite of scientific breakthroughs in developing new packaging materials, there are issues related to their performance and price, inhibiting their mass adoption and usage. Bryan Shova, packaging designer and industrial design director at Kaleidoscope, explains sustainability aspects of packaging. He says, 'I dream of the day when material science and manufacturing can deliver on the promise of zero environmental impact, high performance, premium finish and low costs.' He explains, 'The viability of true sustainability is a complex economic challenge, and the ugly truth is that few consumers, brand owners or municipalities are willing to pay the premium price for cutting-edge sustainable packaging solutions. True solutions will come through "systems thinking" that requires the material supplier, manufacturer, retailer, consumer and the municipality to share in the premium costs and labor required to design, collect and recycle packaged materials.' He provides 10 principles for designing sustainable packaging - (1) Start with commodity materials that are commonly recycled. (2) Design the package from a single material. (3) Focus on the product-to-package ratio. (4) Design for assembly at the point of manufacture. (5) Avoid gluing and laminations. (6) Design for distribution. (7) Eliminate secondary and tertiary packaging when possible. (8) Design for disassembly. (9) Clearly mark the materials on the packaging components. (10) Use Lifecycle Assessment. Read on...
10 ways to design sustainable packaging with intent
Author: Bryan Shova
Mohammad Anas Wahaj | 17 jul 2016
In today's highly competitive and fast paced world of business, innovation can be a differentiating factor and a source of strategic advantage. It can help businesses to stay ahead on the success curve. Risk-taking is an important component of innovative thought process and activity. Val DiFebo, CEO of Deutsch New York, suggests three ways to encourage employees to take risks and build an innovation seeking organization - (1) Explore Unchartered Territory: Encourage risk-taking by rewarding and applauding new ideas and by listening and building when teams want to do things that don't exist. Explore the uncharted territory strategically and patiently. (2) Support the Ideas: Provide support financially and practically. But budget carefully for risks involved. Be realistic when evaluating returns on these investments. Encourage employees to take calculated risks. (3) Be Passionate: It takes courage and passion to introduce new idea. Ask employees to bring ideas they are passionate about. Asking people to be a bit vulnerable encourages risk-taking and can be tremendously rewarding, as well as provide an element of team bonding. Accepting failures of the past and learning from them minimizes the risk of repeating them in future. A smart risk is well thought out and demonstrates that employees have looked at other options and genuinely believe that the risk is worth the gain. Read on...
The One Thing Every Company Gets Wrong About Innovation
Author: Val DiFebo
Mohammad Anas Wahaj | 30 jun 2016
E-Commerce strategy once was a source of competitive advantage and differentiating factor in business. But now it is an essential strategy for businesses to connect and engage with their customers and, market and sell their products and services online. AJ Agrawal, Founder and CEO of Alumnify, suggests 4 affordable marketing strategies to boost e-commerce efforts and stand out from the competition - (1) Start Testing More On Facebook: Utilize split testing or A/B testing to evaluate advertising effectiveness and save cost. Continue the process until best results are achieved. One tactic you can implement in your testing is to prequalify leads. (2) Use The Right Influencers: Word of mouth generates twice the number of sales as paid advertising. Invest in reputation marketing and word of mouth marketing. Use the right and relevant influencers. (3) Invest In Your Email Marketing Campaign: 44% of customers click on promotional emails and then make a purchase. Build email list and invest in email marketing campaign. Finally get a group of brand ambassadors from the list and initiate word of mouth marketing through them. (4) Retargeting In The Right Style: Use retargeting to highlight and establish that unique selling point to convince them to buy and not go to competitors. Use data analytics to understand customer behavior. Segment your adds based on user interactions with site. Keep testing advertising effectiveness until best results are achieved. Continuous testing of marketing strategies and improving upon them will help in differentiating from competitors and attract customers. Read on...
4 Marketing Strategies To Take eCommerce To The Next Level
Author: AJ Agrawal
Mohammad Anas Wahaj | 27 jun 2016
Women are more prominently visible in some professions, but not in all. According to the International Interior Design Association, 69% of the 87,000 design practitioners in the United States are women. But the dismal stat is that, only 25% of firm leaders are female. Although Zaha Hadid, Odile Decq and Jennifer Siegal have reached the top and inspired other women to walk in their footsteps, but there are challenges that women face to get there. Here are views of the four creatives that have worked hard to be leaders in design and architecture - (1) Nicole Hollis, Principal and Creative Director of NICOLEHOLLIS: CHALLENGES - 'Working on construction sites can occasionally be challenging...Also, getting out of my office and working together on site, rather than via email or phone, generates a lot of mutual respect.' OPPORTUNITIES - 'I believe that women have the same opportunities as men. Often having quiet determination and hanging in there during the tough times can be more of a factor than gender.' (2) Lisa Bottom, Design Principal at Gensler San Francisco: CHALLENGES - 'I learned early on that my proclivity for hard work would serve me well. I had to work harder than most of the men and ensure that all my delivered product was the best I could produce.' OPPORTUNITIES - 'The Co-CEO of Gensler, Diane Hoskins, is a woman. Our most recent Chairperson of the Board of Directors of Gensler, Robin Klehr-Avia, is a woman, and the Managing Directors of many of the Gensler offices are women. Gender is no longer the determining factor for success in a design career.' (3) Anne Fougeron, Principal of Fougeron Architecture: CHALLENGES - The challenge is to convince people that you are as capable as your male colleagues. There seems to be an underlying assumption that men understand and know more about construction than women!' OPPORTUNITIES - 'I think women are primed to take over and be the new emerging voice in the field of architecture...We must remember to always ask for what is rightfully ours.' (4) Kendall Wilkinson, Principal of Kendall Wilkinson Design: CHALLENGES - I never thought about being less or more because of my gender, I always knew that I had something to bring to any table, regardless of the audience.' OPPORTUNITIES - 'Doors are opening in so many areas related to design now. More and more, you are seeing women in construction be it electricians, project managers, or even general contractors...our industry is undergoing disruption which I think will lead to interesting new paths for both women and men.' Read on...
Mohammad Anas Wahaj | 23 jun 2016
According to the survey by U.S. Trust (a subsidiary of Bank of America), of 684 high net worth (HNW) individuals, all with investable assets of US$ 3 million or more, there is increasing interest and activity in social impact investing, particularly among women, Millennials and Gen Xers. The survey also found the 7 out of 10 HNW Americans have more confidence in the private sector to solve social and environmental problems than the public or nonprofit sector. Moreover, another 6 in 10 believe that private capital invested in social and public programs can produce superior outcomes, all while ownership and interest in impact investing climb. Jackie VanderBrug, Managing Director of U.S. Trust, says, 'Understanding how and why individuals make impact investments is an increasingly important component of nonprofit management. I think that nonprofit executives that look at impact investing as a trend to be welcomed and embraced are going to be the ones ahead of the curve. Impact investing is not going away. It's fundamentally changing how investments are being made by individuals and fund managers. Understanding that and what it means to your donor base, constituency and board members is an important part of a nonprofit executive's job.' The survey report also finds that, environmental protection and sustainability is the issue that matters most to HNW investors, followed by healthcare equality and access; disease prevention, treatment and cure; access to education; and assistance for veterans. Ms. VanderBrug further adds, 'This is not about confusing philanthropy. Our clients are extremely philanthropic and we don't think that that should stop. My experience is that most individuals who are interested in impact investing are also very philanthropic. They understand that all sectors of the economy need to work.' Read on...
The NonProfit Times:
Big Donors Losing Faith In Charity To Solve Problems
Author: Andy Segedin
Mohammad Anas Wahaj | 18 jun 2016
Family-owned businesses exist through out the world. According to Wikipedia, 'A family business is a commercial organization in which decision-making is influenced by multiple generations of a family - related by blood or marriage - who are closely identified with the firm through leadership or ownership...Family business is the oldest and most common model of economic organization.' During the formative stages, these businesses reflect the decision-making and working style of the owner and the ideas follow a top-down approach. But as the organization grows and become successful, and the management systems evolve there arise a need of outside professionals and top managers to bring fresh ideas and expertise, take over some tasks and roles from the owner, and further accelerate the growth of business. But according to Prof. Marleen Dieleman of National University of Singapore, an expert in strategy and policy, 'Unfortunately, this arrangement frequently does not end well because of a simple, crucial mistake: While they may invest considerable time and money in finding, hiring and training the right outside professional, all too often owners of family businesses assume that an outsider can do the job without the owner changing their own behavior.' If the owners are unable to embrace the change, the approach generally fails. With regards to Asian family businesses, she says, 'In Asia most family firms are built around strong, hands-on family leadership, but are weak in systems.' So to successfully strengthen managerial systems through hiring an external professional, Prof. Dieleman suggests four steps that family firms should consider - (1) Take Stock: Introspection is the first step in the process. Owners should ask themselves critical questions regarding the whys and wherefores. (2) Set Up Formal Corporate Governance Rules: Before hiring an outside professional, build proper procedures and systems. Clearly define responsibilities, performance targets and authority levels. (3) Implement New Routines: Owners should feel comfortable with a hands-off approach and should not overstep their boundaries. This requires awareness, acceptance, training, and practice for all parties involved. It shouldn't be just designing the system, but the discipline to stick to the new rules and roles. (4) Hire Multiple Outside Professionals: Once the system is in place and implemented, then hire for clearly defined roles. Accept increased overheads and cost of professionalization. It may require a team of professionals to fulfil the multiple roles that owner single-handedly performed. Read on...
Mohammad Anas Wahaj | 11 jun 2016
Dr. Amantha Imber's new book, 'The Innovation Formula: The 14 Keys for Creating a Culture where Innovation Thrives', provides an authoritative curation of insights into innovation. Dr. Imber is an innovation psychologist and founder of Australian innovation consultancy Inventium. The book draws upon author's experiences, academic journals and research studies on innovation. It begins with an 'innovation culture audit' based on a survey of 28 questions, that will help assess an organisation's readiness and journey on the innovation path. The tips and case studies are classified into four levels or units of analysis: individual, teams, leadership and organization. These levels have a total of 14 key factors of innovation. (1) INDIVIDUAL LEVEL: CHALLENGE [Imagination breakthroughs (GE), Personal development hacks (Inventium)]; AUTONOMY [Design changes (Etsy, Vimeo)]; RECOGNITION [Innovation Awards (Intuit)]. (2) TEAM LEVEL: DEBATE [Voice of Youth (Infosys), Reverse mentoring (GE, Cisco, HP)], SUPPORTIVENESS ['Flat' teams (Mirvac]; COLLABORATION [Experts from other business units (Pfizer)]. (3) LEADER LEVEL: SUPERVISOR SUPPORT [Design thinking (Disney)]; SENIOR LEADER SUPPORT [CEO office hours (FourSquare), Customer Meetups (Etsy)]; RESOURCES [Hack Days (LinkedIn), Innovation Champions (Pfizer), Toolkits (Adobe, Nestle, CBA)]; GOAL CLARITY [Innovation KPIs (Mirvac)]. (4) ORGANIZATION LEVEL: RISK-TAKING [Annual failure report (EWB), Dare To Try awards (Tata, Pfizer)]; COHESION [Buddy Program (Buzz Products)]; PARTICIPATION [Hack Weeks (Etsy)]; PHYSICAL ENVIRONMENT [Central atrium (Circus Oz), Participatory office design (Mirvac)]. Dr. Imber cautions, 'Creating a culture won't happen overnight.' She sums up, 'Innovation is a learned skill.' Read on...
The Innovation Formula - 14 tips for business creativity and growth
Author: Madanmohan Rao
Mohammad Anas Wahaj | 08 jun 2016
Creativity and innovation help organizations thrive, grow and, stay relevant and competitive. Fast Company developed a list of 100 most creative and innovative professionals for 2016. The list includes individuals from 13 countries and has 50% representation of women. Here are selected few in HUMAN RESOURCES, ORGANIZATIONAL DEVELOPMENT AND CORPORATE CULTURE (The numbering is retained as in the original list) - (15) Carlos Mario Rodriguez (Director of Global Agronomy, Starbucks): For keeping Starbucks and farmers everywhere, full of beans. (22) Anna Young (Co-founder, MakerHealth): For enabling nurses to create their own solutions. (25) Kakul Srivastava (VP of Product Management, GitHub): For seeing the people behind the code. (26) Yasmin Belo-Osagie (Co-founder, She Leads Africa): For developing female entrepreneurs across Africa. (33) Abby Falik (Founder & CEO, Global Citizen Year): For channeling teenage wanderlust toward social good. (39) Alex Wolf (Founder & CEO, BOSSBABE Inc): For leading a millennial girl gang. (42) Dani Rylan (Founder & Comissioner, National Women's Hockey League): For giving women a shot at a professional sport. (48) Mary Roach (Author of 2016 book 'Grunt: The Curious Science of Humans at War'): For finding innovation on the front lines. (49) Wendy Davis (Founder, Deeds Not Words): For continuing to stand up for gender equality. (50) Quincy Delight Jones III (CEO, WeMash): For fostering harmony between mashup artists and copyright holders. (55) Adam Grant (Professor of Management and Psychology, The Wharton School, U. of Pennsylvania): For pinpointing the secrets of success. Author of the book 'Originals: How Non-Conformists Move the World'. (59) Tony Long (Founder & Director of FabLab, Northrop Grumman): For luring DIY to defense. (64) Amy McDonough (VP, FItbit Wellness, Fitbit): For bringing exercise to the enterprise. (65) Neha Narkhede (Co-founder & CTO, Confluent): For teaching businesses to read Kafka. (71) Ivan Askwith (Founder, Askwith & Co.): For knowing how to get fans more of what they want. Specializes in community building and crowdfunding projects that empower fans. (73) Kate O'Keeffe (Director, Cisco Hyperinnovation Living Labs, Cisco): For enabling huge companies to figure out the future, faster. (77) Bill Johnson (President, Corrisoft): For helping ex-offenders and detainees, get their lives back. (79) Markus Kressler (Co-founder and Managing Director, Kiron University): For providing refugees with a pathway to employment through higher education. (85-86-87-88) Jerry Stritzke (CEO, REI), Diógenes Brito (Product Designer, Slack), Shannon Schuyler (Chief Purpose Officer, PwC), Michael Fenlon (Global Talent Leader, PwC): For taking radical steps to improve corporate culture. Read on...
Mohammad Anas Wahaj | 06 jun 2016
According to the new research by Prof. Eliza Forsythe of University of Illinois at Urbana-Champaign, when hiring slows during recessions, the brunt of job losses is borne by job-seekers in their twenties and early thirties. Prof. Forsythe is an expert in labor economics. She says, 'Younger workers are less likely to be hired during recessions and, when they are hired, they tend to find lower-quality jobs and earn lower wages. More-experienced workers see neither of these effects. In fact, the evidence indicates that these more-experienced workers actually crowd young workers out of the labor market during recessions.' Prof. Forsythe explains that this disproportionate affect on young workers during recession make it difficult for them to acquire skills and experience, and establish their careers. Moreover, it also has negative effects on overall economy. It can become difficult for firms to get trained workers when older workforce retires. Explaining the plight of students who graduate during recession, Prof. Forsythe gives an example of Great Recession when the market for new lawyers collapsed. She says, 'In more recent years, hiring has recovered, but firms prefer to hire new graduates rather than those who happened to graduate during the recession and couldn't find jobs.' Prof. Forsythe suggests that clear understanding of hiring patterns and labor market mechanism during recession, is crucial for the design of effective labor market policies. She says, 'Since there are these long-term consequences, it means we might need to do more active interventions for young workers during recessions to make sure that they're not left behind.' Read on...
Illinois News Bureau:
Research - Young workers hit hardest by slow hiring during recessions
Author: Phil Ciciora
Mohammad Anas Wahaj | 03 jun 2016
Creativity and innovativeness are some of the most sought after skills and qualities that are required in all types of industries. These abilities keep the wheel of businesses and organizations running, and stay competitive. Fast Company developed a list of 100 most creative and innovative professionals for 2016. The list includes individuals from 13 countries and has 50% representation of women. Here are selected few in MARKETING, BRANDING, ONLINE COMMUNITIES, MEDIA and ENTERTAINMENT (The numbering is retained as in the original list) - (1) Lin-Manuel Miranda (Composer, Lyricist & Performer. Rap Musical 'Hamilton'): For making history in entertainment. (2) Divya Nag (Head of ResearchKit and CareKit, Apple): For moving Apple into the doctor's office. (3) Jill Soloway (Writer, Director, Producer at Topple, Amazon Studios): For televising the revolution. (4) Jean Liu (President, Didi Chuxing): For building China's biggest ride-sharing business at breathtaking speed. (5-6) Maria Grazia Chiuri and Pierpaolo Piccioli (Co-Creative Directors, Valentino): For turning a storied fashion house into a US$ 1 billion juggernaut. (7) Cindy Holland (Vice President of Original Content, Netflix): For offering Netflix viewers a lot more to binge on. (10) Amit Agarwal (VP and Country Manager, Amazon India): For extending Amazon's reach, one vendor at a time. (12) Katie Nolan (Host of Sports-Comedy Show Garbage Time): For shaking up sports. (13) Mark Fields (President and CEO, Ford): For steering Ford in a more adventurous direction. (15) Carlos Mario Rodriguez (Director of Global Agronomy, Starbucks): For keeping Starbucks and farmers everywhere, full of beans. (17) Rachel Tipograph (Founder & CEO, MikMak): For making infomercials binge-worthy. (18-19-20-21) Sarah Schaaf (Community Director, Imgur), Alex Chung (Founder and CEO, Giphy), Adam Leibsohn (COO, Giphy), Nick Bell (VP of Content, Snapchat): For creating and curating the most clickable content on the Internet. (25) Kakul Srivastava (VP of Product Management, GitHub): For seeing the people behind the code. (27) Baba Ramdev (Founder, Patanjali Ayurved): For disrupting India's US$ 49 billion consumer packaged goods market. (28) Martin Lotti (VP, Global Category Creative Director, Nike): For stretching Nike in new directions. (29-30-31) Will Ruben (Product Manager, Facebook), Laura Javier (Product Designer, Facebook), Jasmine Probst (Content Strategy Manager, Facebook): For seizing the moments through Facebook Moments photo app. (35) Sara Wallander (Concept Designer, H&M): For putting a new face on H&M through eco-conscious beauty products at low cost. (37) Kathleen Kennedy (President, Lucasfilm): For restoring the Force to "Star Wars". (38) Dylan Field (Co-founder & CEO, Figma): For redrawing digital design. (39) Alex Wolf (Founder & CEO, BOSSBABE Inc): For leading a millennial girl gang. (40) Chance The Rapper (Musician, Chance The Rapper): For generating music that's priceless. (41) Jennifer Bandier (Founder, Bandier): For turning leggings into art. (42) Dani Rylan (Founder & Comissioner, National Women's Hockey League): For giving women a shot at a professional sport. (43) Jill Szuchmacher (Director, Google Fiber Expansion, Alphabet): For shaking up the hidebound business of broadband. (44) Zainab Salbi (Host of The Nida'a Show): For being a voice of change and foster frank communication in the Middle East and North Africa. (45-46) Abby Schneiderman and Adam Seifer (Co-founders and Co-Chief Executives, Everplans): For helping us make arrangements through a mobile-optimized consumer platform to build a digital vault of everything. (47) Chris Young (SVP & GM of Intel Security Group, Intel): For expanding Intel's arsenal through products with focus on bettering customer's security infrastructure. (50) Quincy Delight Jones III (CEO, WeMash): For fostering harmony between mashup artists and copyright holders. (51) Jeff Turnas (President, 365 by Whole Foods Market): For lowering the grocery bill. (52-53) Heben Nigatu (Social Producer, The Late Show with Stephen Colbert), Tracy Clayton (Co-Host, Another Round, BuzzFeed): For mixing comedy with commentary. (55) Adam Grant (Professor of Management and Psychology, The Wharton School, U. of Pennsylvania): For pinpointing the secrets of success. Author of the book 'Originals: How Non-Conformists Move the World'. (60) Ryan Coogler (Director, Marvel Studios): For being a knockout filmmaker. (63) Emily Oberman (Brand Designer & Partner, Pentagram): For giving Snoop's product line some California cool. (64) Amy McDonough (VP, FItbit Wellness, Fitbit): For bringing exercise to the enterprise. (65) Neha Narkhede (Co-founder & CTO, Confluent): For teaching businesses to read Kafka. (66) B. J. Novak (Co-founder, Li.st): For putting everything in order. Allowing people to create and share content in the form of list on Internet. (69) Ricardo Vice Santos (Co-founder and CEO, Roger): For being a fresh voice in messaging. Lets users exchange recorded sound snippets. (71) Ivan Askwith (Founder, Askwith & Co.): For knowing how to get fans more of what they want. Specializes in community building and crowdfunding projects that empower fans. (76) Susan Salgado (Managing partner, Hospitality Quotient): For spreading hospitality. (80) Asako Shimazaki (President, Muji USA): For importing the cult of Muji, Japanese housewares brand, to the United States. (81) Cassidy Blackwell (Brand Marketing Lead, Walker & Company Brands): For combining razor-sharp storytelling with product marketing. (82-83) Caitlin McFarland and Emily Gipson (Co-founders, ATX Television Festival): For getting television fans off the couch. (84) Nicole Van Der Tuin (Co-founder and CEO, First Access): For turning mobile phone payments into credit histories. (91) Kamasi Washington (Jazz Saxophonist, Kamasi Washington): For breathing new energy into jazz. (94) Moj Mahdara (CEO, Beautycon): For seeing beyond the cosmetic. (96) Sally-Ann Dale (Chief Creation Officer, Droga5): For energizing brands. (98) Ahmed Abdeen Hamed (Research Assistant Professor, University of Vermont): For discovering drug links in hashtags through computer program that data mines social media. (100) Lilly Singh (Entertainer, YouTube): For creating a unicorn business. Read on...
Mohammad Anas Wahaj | 28 may 2016
Technology continues to transform healthcare in a substantial way. Digital health expansion is visible and growing as technology infrastructure is getting better. Ryan Beckland, Founder and CEO of Validic, explains that optimizing the full potential of digital health will be the key to real progress, and building strong infrastructure to support patient engagement and data exchange capabilities will help make sustainable changes to care delivery and to achieving the full transition to value-based care. He predicts four major trends for 2016 - (1) Patients' expectations for care and care delivery are changing, and will force the industry to change: Patient expect accessability, affordability and better experience; Seek digital services. (2) We are going to see the evolution and increased sophistication of remote clinical technology: Advancements in wearables as sensors detect new data points; Digital therapies in the form of ingestibles and implantables; Platforms and applications are becoming smarter tools for consumers; Consumer empowerment through analytics and valuable health information. (3) Providers are going to begin seriously tackling long-standing interoperability and data access challenges: More investments in infrastructure for better connected systems. (4) There is going to be a shift in payment models to drive an outcome-based healthcare economy: Prevalent fee-for-service will transition to reimbursement for value instead of volume. Read on...
Healthcare Innovation and the Four Key Digital Health Trends Expected for 2016
Author: Ryan Beckland
Mohammad Anas Wahaj | 24 may 2016
Altimeter Group's April 2016 report, 'The Race Against Digital Darwinism: Six Stages of Digital Transformation', defines 'Digital Transformation' as, 'The realignment of, or new investment in technology, business models, and processes to drive new value for customers and employees to effectively compete in an ever-changing digital economy.' According to Brian Solis, an analyst at Altimeter, 'Many conversations around digital transformation are focused on the IT side, and technology does play a big role, but there's a human side of the story and it's driven by the customer experience.' He explains that most digital transformation happens without top leadership, and it actually develops from the middle of the organization, from change agents, who act as lawyers, cheerleaders, and politicians, as they have to gather evidence, rally everyone together, and convince people to work together. The report provides six stages for digital transformation - (1) Business As Usual: Digital is present but not prioritized; Leadership is change resistant; Roadmap focuses on technology, not customer experience; Customer strategies and processes are siloed; Teams are not collaborating. (2) Present and Active: Occurence of early adopters experimenting with new technologies; Teams operating independently; Focus on customer experience starts to develop; Change agents are present and engage with colleagues to share latest digital trends. (3) Formalized: More collaboration happens between change agents and early adopters; Decision making driven by data, analytics and insights starts; Conversations revolve around customer experience, digital vs traditional; Need for formal vision regarding digital transformation and executive sponsorship for it; Education and training for digital begins. (4) Strategic: Most parts of the organization are now aware of digital transformation efforts and mapped processes; They start to get streamlined; Change agents become prominent; Role of CDO (Chief Digital Officer) or CCO (Chief Customer Officer) emerges; Data and analytics become more important; More collaboration is visible; Digital investments become ROI focused. (5) Converged: Digital efforts converge and get streamlined; Customer experience efforts now influence all processes; Change agents become leaders; Top leadership gets actively involved in digital transformation; Governing body is established to oversee changes; More collaboration between IT and customer experience teams. (6) Innovative and Adaptive: Digital transformation and innovation become interwoven into the fabric of the organization; An omni-channel system develops and provides consolidated information on customer data and its effects; New teams and roles evolve that prioritize digital. Read on...
Mohammad Anas Wahaj | 22 may 2016
According to the latest report by PwC, 'Connecting the World: Ten Mechanisms for Global Inclusion', providing internet connectivity to the remaining 4.1 billion people and bringing them online would increase global economic output by US$ 6.7 trillion. It will lift 500 million people out of poverty over five years. The report says that affordability, rather than infrastructure and availability, is the main barrier to internet adoption in most areas. Therefore, the report suggests that improvement of existing technology or even simply installing existing technology in developing nations, will be sufficient to achieve the essential cost reduction. The report was prepared for Facebook, that itself advocates cost reduction through Internet.org project. Facebook's approach of limiting the low-cost access to a subsection of the web, giving access to select sites like Wikipedia and Facebook, termed as 'zero rating', has critics in 'net neutrality' advocates like Tim Berners-Lee, who says, 'I tend to say 'Just say no.' In the particular case of somebody who's offering...something which is branded internet, it's not internet, then you just say no.' On the other hand, Jonathan Tate of PwC argues, 'Facebook's approach is worth it in the long term. While zero rating provides access to a slimmer version of the internet than the full web, it's a crucial stepping stone to full access. The important thing here is to get things moving.' Efforts like Google's Project Loon and Facebook's Aquila, are geared to achieve total connectivity by creating 'disruptive technologies'. Read on...
Connecting everyone to internet 'would add $6.7tn to global economy'
Author: Alex Hern
Mohammad Anas Wahaj | 17 may 2016
Companies partner with public relations firms to build and enhance value of their brands. Chuck Cohn, Founder and CEO of Varsity Tutors, suggests identifying the right PR firm that is affordable, free of conflict of interest, have a skilled staff, understands your industry, provides the appropriate level of attention and support as you grow. He explains four criteria to consider while getting a PR agency on board - (1) Timing: Assess the need for PR; Are products and services mature enough; Is website optimized for sales; Is the content PR worthy. (2) Agency Type: Search for the right fit of agency for the business goals and desired outcomes. (3) Agency Staffing: Interact with the right people in the firm who will handle the account and not just the pitch team; Seek continuity in the team for a long-term. (4) Agency Size: Depending on the budget and specific requirements choose the optimum size PR agency. Read on...
What to Consider When Evaluating Potential PR Partners
Author: Chuck Cohn
Mohammad Anas Wahaj | 14 may 2016
As more innovation shifts towards entrepreneurial startups in the pharmaceutical industry, a number of executives are changing their stable big pharma tracks and joining the riskier, but more dynamic and rewarding world of small biotechs. They are somewhat championing the title of the book, 'Small is Beautiful' by E. F. Schumacher, in the pharma context. The shift also seems like a typical case of siding with David and abandoning Goliath in the race for developing breakthrough innovative drugs. Victoria Richon, as vice president of oncology drug development at Sanofi, experienced constant reorganization - teams shuffled, priorities shifted and processes changed - a usual situation at big corporations. After joining as president of a startup, Ribon Therapeutics, she says, 'At a small company, it's so much more about the science, and that's so much more satisfying to me.' The number of such career jumps are on the rise. According to pharma experts, startups have cash and they generate more innovative drugs (64% of drugs approved in 2015 originated from startups - HBM Partners). Graham Galloway of Spencer Stuart says, 'The shift is further fueled by rapid consolidation among the giants, shake-ups inside R&D departments, and succession planning inside big companies.' Some of the other prominent executives who made this big to small move include - Doug Williams, from Biogen to Codiak BioSciences; Don Nicholson, from Merck to Nimbus Therapeutics; Jeremy Levin, from Teva Pharmaceuticals to Ovid Therapeutics. Jackie Bandish, a biotech recruiter, puts it correctly, 'For many of these guys, a small company can be a breath of fresh air.' To compete in such an environment, giants are also modifying their strategies. Some are trying to become more entrepreneurial, others are enhancing their R&D. Moreover, they are also deliberately leaving early scientific research for startups, so that they can make deals later, licencing the drug (Small firms received US$ 5.6 billion in upfront licensing payments in 2014 - BIO.org) or outrightly acquiring the startup. High-risk and high-reward is the mantra for startups. Tony Coles, formerly with Bristol-Myers Squibb and Merck, got a US$ 62 million payout as CEO of Onyx Pharmaceuticals, when it was acquired by Amgen. While former Amgen executive, Terry Rosen, sold his startup Flexus Biosciences within 17 months of its inception for US$ 1.3 billion. According to PwC MoneyTree report, venture capitalists invested a huge US$ 7.4 billion in biotechs last year. But Greg Vlahos, parter at PwC, says that the pace has slowed a bit and expects a funding to top US$ 5 billion this year. Prof. Erik Gordon of Ross School of Business at University of Michigan, being positive on executive moves says, 'If anything, the flow of people to biotech startups may accelerate. because that's where they can make big stuff happen.' Jeff Jonas's motivation to move from Shire to a startup Sage, echoes with the trend. According to him, 'It's the chance to work unfettered - where everyone is rolling in the same direction - and the chance to do something big and unexpected. Who wouldn't want that kind of privilege?' Read on...
Mohammad Anas Wahaj | 06 may 2016
'It's an exciting time to be an edtech company,' says John Doerr, long-time partner and now chair at one of the prominent Silicon Valley venture capital firm, Kleiner Perkins Caufield & Byers. He has been at the firm since 1980 and led investments into some of technology industry's most successful companies like Google, Amazon, Twitter, Sun Microsystems, Compaq etc. Some of his investments are now focused on education technology companies and organizations. Although he sees the present environment to be conducive for entrepreneurs, but he points out, 'Building a huge company requires tremendous capital to get established.' Moreover, referring to billion-dollar-valued companies, he says, 'I'm concerned about the obsession with unicorns.' For him most VC's don't see edtech companies to fall in this unicorn category. He says, 'Edtech companies will attract edtech investors - but not general purpose investors. On the other hand, edtech entrepreneurs shouldn't want just any VC. Interview your venture backers - the way you'd interview a potential VP.' He considers 'augmented reality' to be the next wave of technology. According to him, 'inclusion' is another area that companies and industry overall should work on as a mission. Read on...
Mohammad Anas Wahaj | 04 may 2016
Shifts in healthcare systems, driven by policy, regulations, rising costs, technologies etc, signal towards a complex and uncertain future to deliver better and affordable health solutions to people. Stephen K. Klasko, President and CEO of Thomas Jefferson University and Jefferson Health in Philadelphia and Jack Welch, Executive Chairman of the Jack Welch Management Institute and former CEO of General Electric, explain the challenges that healthcare leaders face in coming years and how they can prepare themselves with knowledge and skills, and take actionable steps to successfully navigate the evolving healthcare landscape. According to them, 'Historically, physicians have pursued MBA programs to learn leadership, management and other critical business skills not gained in medical school. But shaping individuals who can make a difference in the changing health care field requires even more specialized training that will foster critical, game-changing thinking.' They believe that understanding and managing 'transformation' is the single most important concept that will guide healthcare leaders to ensure the survival and success of healthcare systems of tomorrow. They further suggest that physician leaders should assume the role of 'Chief Meaning Officers' as they guide their organizations through change and transformation. To achieve this they have to first develop clarity in their vision and then develop a comprehensive roadmap that they should communicate to their team. Mr. Klasko and Mr. Welch explain about creating a mind map through a three step process and bringing the right people in the team. They say, 'An environment of trust allows everyone around you to join in building the future of your rapidly changing business. Add speed and flexibility to this mind map, and you've imagined the kinds of skills needed to create a new generation of physicians prepared to lead in the new age of health care.' Read on...
Mohammad Anas Wahaj | 03 may 2016
Vinod Khosla is one of the most visible face of PIO (Person of Indian Origin) entrepreneurship in Silicon Valley. He initiated his entrepreneurial journey in 1982 with Sun Microsystems, evolved into a top venture capitalist with Kleiner Perkins Caufield & Byers and now runs his own venture capital firm, Khosla Ventures, where he focuses on assisting entrepreneurs to build companies in the areas of energy, technology, internet, education, digital health etc. He shares 10 points from his accumulated wisdom for entrepreneurial success - (1) Be Persistent. (2) Keep Innovating. (3) Add Value. (4) Have The Guts To Follow Your Beliefs. (5) Try And Fail, But Don't Fail To Try. (6) Transcend What's Traditional. (7) Shake Things Up. (8) Build A Great Team. (9) Dare To Be Great. (10) Be Brutally Honest. Read on...
Mohammad Anas Wahaj | 28 apr 2016
As web technologies continue to evolve along with user expectations, businesses have to keep pace with them for successful digital marketing and search engine optimization (SEO). User experience optimization (UXO) and user experience design (UXD) are at the core of online marketing and SEO strategies. UXO keeps customers hooked to the website and UXD is the process that is used to create the website with customers in mind. Optimal UXD utilizes best usability principles to provide best user interface by keeping customer interactions at the core of design. Dan Makoski, VP of Design for CapitalOne and most currently Chief Design Officer at Garage Partners, says, 'Experiences are personal moments felt by people, something that can't be owned by designers; however, we can design for it. The experience of the people we design for is what determines the success of the products, services and relationships that we create.' Don Dodds, Managing Partner and Chief Strategist at M16 Marketing, suggests a list of 38 tips for website design, content creation and online marketing strategies for better user experience. Here are some selections from the list - (1) Top of the page is critical for user attention. (2) Make sure content is visible and readable for everyone including colorblind users. (3) Provide symmetry in object placement. (4) Place objects in logical order for better user flow. (5) Keep site navigation panel consistent. (6) Design for ease of use and easy comprehension. (7) For better loading use content before images. (8) Keep pages as short as possible for ease of content utilization by user. (9) For long pages use sticky menu that moves with the scrolling. (10) Make sure your pages load quickly, preferably in couple of seconds. (11) Make it easy for users to undo an action or back out of a navigation option. (12) For mobile content, do not require a double-click to activate an element. (13) Pay attention to contrast when designing your mobile content. (14) Link anchor text should tell the user exactly where the link will take them. (15) Use fonts that are easy to read. (16) Most website visitors scan your content first before reading it. Use elements like bold text, headlines etc to attract attention to the content that is most meaningful to users. (17) Avoid pop-ups, banners and slideshows as much as possible. (18) Always be truthful regarding what you can offer. Avoid false advertising and misleading information. (19) Use icons that are simply designed and easy to understand. (20) Establish a brand image and include it everywhere you've established a presence online. Read on...
38 Design Tips for Creating an Amazing User Experience
Author: Don Dodds
Mohammad Anas Wahaj | 27 apr 2016
Financial services industry has vast amount of consumer data and firms can utilize analytics to gather purposeful insights for better customer relationships and business success. Consumers are now more digitally connected than before. But according to Boston Consulting Group, despite the huge availability of data and better analytics tools, banks are far from realizing big data's full potential. Some of the reasons are - Competing priorities like regulatory changes that happened during financial crisis; IT complexity due to multilayered systems and siloed data; Lack of coordinated vision. Jim Marous, Co-Publisher of The Financial Brand and Publisher of the Digital Banking Report, suggests steps that traditional banking and financial institutions can take to take advantage of consumer data and analytics - (1) The Partnership Between Banking and Fintech: A win-win is created by combining data and technology skills of many of the entrepreneurial financial technology firms with the data from the larger legacy firms. (2) Removing Friction from the Customer Journey: Focus on providing better digital experience at each step of customer interaction by leveraging advance customer insights that go far beyond simple demographics to include channel preferences, lifestage insights and even geolocational information. (3) Making Data Actionable: Beth Merle, VP of Enterprise Solutions at Epsilon, says, 'Banks need to stop talking about gathering big data and starting using big data to make a difference for the consumer. We need to see the integration and synchronization of data sources, enabling real-time determination of relevant data points for analysis, communication, and decision making, the 'trifecta' of big data. (4) Introduction of Optichannel Delivery: Financial organizations have to go beyond multichannel and omnichannel strategy and provide 'optichannel' experience by delivering solutions using the best (optimum) channel based on the customer's need and preferred channel. In the future, the integration of processes from the consumer's perspective is foundational to the optichannel theme. According to Nicole Sturgill, Principal Executive Advisor for CEB TowerGroup, 'Rather than looking at channels independently, banking needs to develop and provide financial tools that are integrated in daily life.' (5) Exploring Advanced Technology: Jim Eckenrode, Executive Director of the Deloitte Center for Financial Services, says, 'By enabling the collection and exchange of information from objects, the IoT (Internet of Things) has the potential to be as broadly transformational to the financial services industry as the Internet itself.' In the process of leveraging customer data legacy firms face multiple challenges that they need to overcome to reap financial benefits and establish data and analytics expertise that would be hard to replicate by competitors. Some of these challenges include - Lack of talent; Lack of resources; Lack of urgency. Despite advanced data analysis being one of the top challenges mentioned in the recently released State of Financial Services Marketing, only the largest regional and national banks (over US$ 10 billion) ranked improving data and analytics capabilities in their top three priorities (47%), compared to community banks and credit unions (only 8%). Read on...
Mohammad Anas Wahaj | 25 apr 2016
According to a recent study by Prof. Leanne Cutcher of the University of Sydney Business School, a leading expert on intergenerational employment, ageism in the workforce is built on a faulty premise and the most innovative companies are the ones where the age of employees does not matter. Prof. Cutcher says, 'When we say baby boomers are not good with technology and Generation Y don't have enough experience, it becomes a self-fulfilling prophecy. Because people who have good ideas then don't share them because they have been told they are too old. But you are just going to replicate the same ideas where you start labelling people as either too old or too young for a role. Where that is happening, it is stifling knowledge exchange.' Michael Shaw, Executive Vice President Healthcare at Siemens Australia, comments, 'Siemens takes the best people for the job. Personally, for me it's not important if the person is in their 20s or in their 60s, I am simply looking for the best minds with the best attitude.' Another study by Australian Seniors Insurance Agency (ASIA), based on survey of 1200 people across Australia, found that age discrimination at workplace is rife. According to the study, close to half the Baby Boomer respondents claimed they have been turned down for a job since they turned 40, and 3 out of 5 people over 50 said that they faced substantial obstacles in attempts to find a job. The research also found that more than 3/4 of Baby Boomers adapt well to technological innovations, and 73% are actively seeking training opportunities. According to Simon Hovell, spokesman for ASIA, 'The findings point to what many organisations, academics and economists have known all along - Baby Boomers are a real asset to the workplace.' Read on...
The Sydney Morning Herald:
Companies that use older workers are the most innovative - New research
Author: Anna Patty
Mohammad Anas Wahaj | 13 apr 2016
Businesses apply different set of strategies and tactics when they market and sell to other businesses or directly to consumers. Daniel Scalco, CEO of Digitalux, provides 5 important B2B (Business to Business) marketing strategies that should be considered to increase leads, ROI (Return on Investments) and finally sales - (1) Dig deeper when targeting your demographic: Use 'hyper-targeting' to narrow down audience. (2) Get feedback: Strategy should be data driven; Use survey process into marketing methods. (3) Extend your funnel: B2B marketing strategy cycle to go from a prospect, to lead to consumer is much longer than B2C; Nurture leads by extending funnel through better content, webinars and social media to engage with target audience. (4) Invest in an explainer video: eMarketer study found that B2B buyers consider video as top 3 most useful content for marking purchases; Inform potential customers through a story-based video. (5) Create goals and milestones: Break down the journey to reach marketing goals into smaller steps or milestones for effective execution. Read on...
Mohammad Anas Wahaj | 27 mar 2016
Food wastage is becoming a substantial cause of concern around the world. France recently passed laws to restrict throwing away or destroying food and UK's biggest retailer, Tesco, pledging to give all leftover food to charities. According to Food and Agriculture Organization of the United Nations website (fao.org) - Roughly one third of the food produced in the world for human consumption every year, approximately 1.3 billion tonnes, gets lost or wasted; Food losses and waste amounts to roughly US$ 680 billion in industrialized countries and US$ 310 billion in developing countries. Governments, food chains and retailers, charitable organizations and social enterprises, need to come together to find ways to restrict and minimize food waste and make substantial part of it available to where it is required most. Following are some valuable suggestions - (1) Logistics: Efficient coordination between supermarkets and charities is essential. Supermarkets shouldn't just dump food at charities. Elaine Montegriffo, CEO of SecondBite, says, 'It is not just having enough trucks and storerooms...Some organisation has to take responsibility for coordinating donations so the right food reaches people in useable condition.' (2) Education: Create awareness about food labels and other specifications among consumers. Ronni Kahn, CEO of OzHarvest, says, 'Consumers need to understand what date marks mean.' (3) Food consumed at home should have minimal losses and consumer buying and eating behaviors need to be transformed. (4) Growing less food: Ms. Montegriffo says it's counterintuitive but if producers and retailers were not throwing away 1/3 of the food produced, the cost of producing it would drop. If supermarkets did not over-order food, their costs would reduce. (5) UK's model of collaborative understanding and commitment, between environment ministry, sumpermarkets, manufacturers and packaging companies has been effective and can be emulated. (6) Denmark's model with an organization buying surplus food from other supermarkets and selling at discount can also be helpful to reduce food waste. (7) Legislative measures can be considered and that should evolve with deliberations among various stakeholders. A number of organizations in Australia, for example retailers like Woolworths and Coles, and charities like OzHarvest, SecondBite and Foodbank, are currently working towards achieving minimal food wastes through the following 6 methods - (1) Reasonable and achievable long-term targets through diverse strategies like food donations, commercial composting, fertiliser, electricity production and animal feed. (2) Using food charities. (3) Buying ugly fruit and selling at cheaper rates. (4) Supermarkets are ordering less by using supply chain technologies and ordering systems. (5) Good incentives: Australian Environment Minister Greg Hunt introduced an incentive for businesses to reduce food or garden waste in landfill. (6) Talking about food waste and seeking collaborative solutions through participation from wide array of public and private organizations. Read on...
Mohammad Anas Wahaj | 20 mar 2016
According to the latest study 'The State of Consumer Healthcare: A Study of Patient Experience from Prophet and GE Healthcare Camden Group', that incorporates responses from 3000 consumers and 300 senior leaders (Vice President or higher) at healthcare provider systems that employ at least 20 physicians, patient experience is one of the main concern as 81% of consumers surveyed indicate that they are unsatisfied with their healthcare experience. Moreover, the study also points towards a large gap between consumer expectations and what providers believe regarding their service offerings. Jeff Gourdji of Prophet says, 'There is a misperception among providers about how well they are truly meeting consumer expectations.' CEO's surveyed in the study also said that patient satisfaction is not currently among their top five priorities. According to Helen Stewart of GE Healthcare, 'The common misperception is that focusing on the patient experience means spending less time on other cost and revenue initiatives...Investments to improve the patient experience can drive both growth and cost reduction.' Paul Schrimpf of Prophet says, 'Providers are struggling to adapt to the rising culture of 'consumerism', which has heightened people's expectations. The power has shifted to the consumer in nearly every industry, and now it's healthcare's turn.' Laura Jacobs, President of GE Healthcare Camden Group, explains, 'Creating better and more holistic experiences doesn't just mean happier patients. It translates to increased capacity, lower operating costs, improved financial performance, and higher employee satisfaction and retention. For healthcare providers, the key to profitability and longevity lies in their ability to deliver a superior consumer experience.' Read on...
Mohammad Anas Wahaj | 16 mar 2016
Organizations invest money, time and efforts in branding to build their credibility and reputation. In the online world with expanded global reach, social media and changing dynamics of customer relationships, there are further challenges that the organizations face to keep and sustain their brand image. Moreover there are also steps that are required before embarking upon creating and developing a brand. John Lincoln, Co-founder and CEO of Ignite Visibility and professor at University of California San Diego, explains 8 branding mistakes that should be avoided for brand value and business success - (1) Not Getting a Trademark. (2) Not Vigorously Searching Google and Doing Proper Research. (3) Not Coming Up With a Good Domain Name. (4) Picking a Name That Competes With a Well-Established Brand. (5) Picking Color Schemes and Visuals That Aren't Relevant to What You Do. (6) Not Checking Cultural References Around the Name. (7) Not Checking the Name's Translations in Other Languages. (8) Check Potential Stigmas Associated With the Name. Read on...
8 Branding Mistakes That Can Result in Major Setbacks
Author: John Lincoln
disclaimer & privacy