The most exciting thing for business over the 2019 summer was when the Business Roundtable put out a Statement on the “Purpose of the Corporation.” Signed by 181 American CEO’s all of whose brands are well known to consumers or businesses, the statement reflects the changing times. Download the Roundtable Statement here and check out the 181 signatures from many CEO’s of companies you are already familiar with.American politicians have been telling us what we know to be true – the “American Dream” eludes most folks today due to rapid changes in globalization and technology. Thankfully, leaders of American businesses have taken notice and have decided to move their focus from the “next quarter” to “long term shareholder value” on the shareholder element and have included all stakeholders in the “Purpose of the Corporation”. The times have truly changed in the last decade with all stakeholders having a voice on social media and the old dictum of “just focus on shareholder (short-term) value” can no longer work. See Eric Posner’s article “Milton Friedman was wrong” in the Atlantic.
Over the last week there were two speakers who influenced this post. The first was the famous goal setting expert Gary P Latham who spoke at Yale University. And the second was Bob Bowman, (Michael Phelp’s coach) who was interviewed on NBC for his new book “The Golden Rules.” It also turns out that ourContinue reading “Why forward looking performance “previews” for business are better”
We get frequent questions from innovative solution sellers about how to deal with the power and politics of B2B Buying Centers. This is after you have started talking with people at a prospective customer organization. And yet a deal doesn’t seem to be coming through.Here is our take and we hope this makes our dearContinue reading “Dealing with the power and politics of B2B buying centers”
Winter Marketing Academic Conference(#WinterAMA16) involved a lot of discussion about the impact of online negative reviews on customers. Researchers have been doing massive work with lots of data to examine: Are negative reviews for your business catastrophic? There is cheerful news for all organizations who feel bad about a few negative reviews out there. Now,Continue reading “Negative Online Reviews:Customers check “What’s the worst that can happen?””
Frank,regular and constructive feedback is hard to give or receive in any work relationship. For example, HR performance appraisals are dreaded by both the boss and the employee. If you are a great leader your employees deserve to know how they are doing on a frequent basis , according to the legendary Jack Welch (Also seeContinue reading “Why it’s hard to share feedback in B2B Markets”
The primary challenge for their innovation teams, according to the Innovation head of a Fortune 50 corporation, is to consciously engage the bosses at the front end of the project. The bosses sign off on initial costs and then when things progress to the stage of making prototypes and trial production- the bosses suddenly wake up. “I never realized that there are such big costs involved,down the line…” is a common refrain.
Here is an old Blockbuster video membership card, what nostalgia! Renting video cassettes from Blockbuster video seems like so long ago .. How Internet affects business is one of our favorite topics but there is an underlying larger idea in strategy. That idea is sustainable competitive advantage by which a business maintains enduring success. CompetitionContinue reading “What is your sustainable competitive advantage?”
If you have enabled demographic reports on your B2B marketing website in Google Analytics, you would have noticed it: there are lots of visitors from the 18-24 and 25-34 age group. We would not be surprised if you sell some non-glamorous industrial product (eg. valves or switches.. with no offence to readers from these industries)Continue reading “B2B Buying Center members getting younger”
How to engage your organization in social media content creation? is a challenge for most organizations. Call it the legacy of the old industrial world, you joined a large organization and hoped to keep your job for life. The formula was ” keep your head down” , “keep your mouth shut” , “stay out ofContinue reading “Why is it hard to engage your organization in social media content creation?”
Sales and Business Development are different- and there is a whole lot out there on the web, that consists of all manner of opinions and views on this very important topic. For, it lies at the very definition of marketing viz: “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, andContinue reading “What’s different between Sales and Business Development ?”