Tag Archives: Commercial Trends
I am seeing the word 'Entrepreneur' used a lot these days and in many cases it refers to people that are not Entrepreneurs at all.
There is a lot of difference between someone that builds a business and an Entrepreneur.
The trouble is, the word comes from French:
1875–80; < French: literally, one who undertakes (some task), equivalent to entrepren (dre) to undertake (< Latin inter- inter- + prendere to take, variant of prehendere ) + -eur -eur.
So basically it refers to an employer or business owner. However, over the years we have used it to describe someone that starts a business or develops a business normally in an innovative or creative way and often against significant odds.
Now we seem to be using it liberally to describe anyone starting up a business or owning one.
I think that is sad. We should be able to differentiate those that are simply running or building a business and those that are reinventing businesses.
The parallels between the game of golf and being in business help us understand where we should focus and what should be important. Golf is a game where the player is largely competing against himself and seeking to improve ways to improve his performance.
In this video, Paul Bridle will look at other important parallels and why this is important to business and the way we approach our business every day. If we approached business in the way a golfer approaches golf, it may make a significant difference to our performance.
During the lifetime of any organisation, it may from time-to-time require the support of an external business advisor, consultant or coach – but what is the difference and how can they help?
There’s a certain amount of confusion in the business community about these three roles. Ask ten people, and you might get ten different answers.
Here is just one set of definitions for you to consider.
Business Advisor: Is pretty much hands-off. They are called in to assess, advice, and counsel on a topic or set of topics. They provide their recommendations - and then they walk away. There might be follow-up discussions, but generally the actual implementation of any recommendation is performed by company staff. Their only hands-on work usually involves writing up their recommendations.
A Business Consultant: Usually performs at least partially as an advisor, offering advice & recommendations - but then they go hands-on to implement their recommendations alone or in concert with company staff; whether it be a new strategy, technology, problem-fix, etc. (more…)
Christian Mutschlechner has more than 30 years experience of working in the meeting industry. He is currently Director of the Vienna Convention Bureau.
With theVienna Convention Bureau living and experiencing a lot of dramatic changes within the sector, adapting the strategy of the organisation has been vital.Trying to be part of the permanent change and influence change wherever possible.
In this Be Inspired Interview Christian explores the importance of responding to and implementing change within the meetings industry.
The Boston Matrix or Boston Box – so called because it was developed by the Boston Consulting Group (BCG) – is a tool that may help you to analyse potential routes forward and discuss strategic options.
Developed by BCG’s founder, Bruce D. Henderson and his colleagues, the Boston Box offers a simple technique for assessing your organisation’s position relative to others in terms of its product range.
To find out more about this model, click on the following link: Boston Box
The Adecco Group UK&I has joined forces with the CIPD (Chartered Institute of Personnel and Development) to produce the CIPD/The Adecco Group Labour Market Outlook (LMO). The LMO is a quarterly report providing analysis and commentary on key employment trends.
The LMO is one of the most authoritative employment indicators in the UK. The report is based on a survey of more than 1,000 HR professionals and senior decision makers. Further information about the survey methodology can be found in the report.
The headline finding in this report is the UK’s buoyant labour market. The net employment balance (the difference between hiring and redundancy intentions) is up for all sectors: private, public and voluntary. The report cautions readers of the report to keep these findings in context with the wider political environment. Brexit still presents a number of unknowns for the UK labour market. We also feel that training provisions, to safeguard future talent, should be addressed by the Government via both apprenticeship and non-apprenticeship courses.
The other key finding from the report is that employers’ expectations for raising pay have not really changed since the last LMO (spring 2017), and is at 1%. A piece of the (more…)
Benchmarking is a systematic tool that allows a company to determine whether its performance of organisational processes and activities represent the best practices.
Benchmarking models are used to determine how well a business unit, division, organisation or corporation is performing compared with other similar organisations.
A benchmark is a point of reference for a measurement. The term 'benchmark' presumably originates from the practice of making dimensional height measurements of an object on a workbench using a gradual scale or similar
The term 'benchmark' presumably originates from the practice of making dimensional height measurements of an object on a workbench using a gradual scale or similar tool and using the surface of the workbench as the origin for the measurements.
Traditionally, performance measures are compared with previous measures from the same organisation at different times. Although this can be a good indication of the speed of improvement within the organisation, it could be that although the organisation is improving, the competition is improving faster...
FIVE TYPES OF BENCHMARKING
- Internal benchmarking (benchmark within a corporation, for example between business units)
- Competitive benchmarking (benchmark performance or processes with competitors)
- Functional benchmarking (benchmark similar processes within an industry)
- Generic benchmarking (comparing operations between unrelated industries)
- Collaborative benchmarking (carried out collaboratively by groups of companies (e.g. subsidiaries of a multinational in different countries or an industry organisation).