Reputational Risk in the Post-financial crisis era, Part 1: Business’ Global Deficit of Trust

June 17th, 2009

Jon Low“My Administration is the only thing between you and the pitchforks.”

U.S. President Barack Obama felt compelled to speak these words to the leading U.S. bank CEOs at a White House gathering to which they had been summoned on April 9, 2009. Driven by the public’s anger at the financial crisis, the President employed a metaphor invoking 19th-century images of “peasants with pitchforks” and scythes rising up to demand better treatment from their overlords. That such revolutions regularly occurred from 1776 until 1917 in Europe, North America and South America added a modicum of historical weight to the implied threat. more »

7 Tips for Licensing a Product

December 12th, 2008

Do you have a great idea for a product? If the answer is “Yes,” you have probably asked yourself the next logical question: How do I make money? That next step may seem daunting: Do you want to build a new company from the ground up in order to market and sell the product, or do you sign a product licensing deal with a pre-existing company that already has the resources to get your product out into the market ASAP?
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The Social Media Lawyer: How to Integrate Social Media into Your Business Without Violating the Law

August 30th, 2009

As social media becomes more and more integrated into all business functions, employers are faced with the increasingly complex task of utilizing these new forms of communication effectively without suffering legal consequences. To do so, many have begun implementing formal policies to protect against the risks and maximize the opportunities made available by social media. With this in mind, executives should consider the following step-by-step guide to creating effective social media policies: more »

Business in Transition Quick Tips: Cross-Train to Bulk Up the Bottom Line

February 22nd, 2009

So many people, including our president, are referring to the upcoming year as a difficult time. However, it’s also a good time to see how positive change can get you ready for 2010 and beyond. So instead of calling 2009 a difficult year – how about naming it a rebuilding year. The best leaders and managers will use this time to show a willingness to do away with ineffective practices and replace them with effective ones. It’s a time for management to work a little harder and to inspire others by example. One of the best ways to inspire employees, take away the insecurity of the daunting news reports about the economy and make them feel like valued members of your organization and use this time to talk to them, listen to their ideas and put time and effort into training them to be an exceptional team. Developing a strong team is of critical importance to companies. When a company is succeeding, training is something that gets pushed to the side and is often considered a waste of time. Now is the time for companies to work with their employees, teach them the best, most efficient ways to get the job done and send them into the work force feeling secure in their position and confident in their ability.
Rebuilding is getting back to basics. Here are some suggestions to inspire your employees and involved them in training without adding to your budget:
1. Cross Train employees to learn each other’s jobs. This improves morale and provides a better trained and more flexible work force.
2. Map out work flow and solicit ideas for improvement. Cross trained employees who understand the “big picture” will see opportunities to improve processes, save time and money. You can suggest establishing cross-functional teams to map out the processes and generate ideas. Empower the workforce to do this.
3. Review, prioritize and implement change.
4. Reward employees for their contributions. Point out how this can be done cheaply.It’s always exciting to watch an exciting play and see someone run the ball 90 yards into the end zone for a touchdown. Wouldn’t we all love to be the one with the ball when the ref holds his hands up and the crowd starts to go wild? How do we get to be a part of that glory? We go back to the basics and we learn and relearn every step that gets you to that moment.
The easiest thing to do right now is to be self defeated, fearful and frustrated. This will, of course, give the same feeling within your staff and cause the eight to ten hours you spend in the office to be a difficult experience for all and it will do nothing to help you when the economy bounces back. The best thing to do is to use the time to make your organization a better, more organized, more effective place to work and get you ready to be better than ever when the economy bounces back. As Benjamin Franklin said Lost time is never found again.  Teresa Cavanagh is owner of Mercer Technology Consultants LLC specializing in the recruitment and placement of professionals in the digital workforce. She can be reached at teresa@MercerTeC.com.

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