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It has been repeatedly observed that customer acquisition is far more difficult than retaining existing one. This can only be possible if a through customer experience is provided that is both personal as well as unique. In order to provide this, every possible medium of engagement must be applied. Business consulting provided by Deloitte confirms that over ninety percent of enterprises regard customer experience across multiple channels as a competitive edge. That is where tracking mentions on social media outlets like Twitter becomes so important. An omni-channel approach is good for providing service but for engagement, multiple platforms helps. Website design now needs to be structured to integrate with tablets, laptops and smart phones. This is because as Pew Research has found out majority of people in the developed nations and increasingly in the others as well use multiple devices. Predictive analytics must be used to extract vital business intelligence about customer segments. It uses techniques of data mining, modeling and machine learning to provide the solutions.

Source:http://customerthink.com/how-to-make-your-customers-experience-unique-and-personal/

 

It has been observed over multiple studies that respect is one of the key drivers to generate employee engagement and invariably talent management in any organization. Nearly three-fourths of the workforce across organizations has been found to be at various states of disengagement. With due respect being accorded, employees feel themselves to be core members of their respective teams. Their productivity reaches the next level when they feel respected so they’re motivated to put in the extra effort. Their morale erodes when they feel a lack of respect around their work. Small triggers can then lead to breakdown in otherwise harmonious relationships at work.

Source:http://www.forbes.com/sites/victorlipman/2017/01/10/why-respect-is-key-to-employee-engagement/#483d04a11b77

 

Corporate philanthropy has undergone major change as per business analysis conducted by the Forbes publication. Companies are getting involved to eventually engage fully with activities of social welfare. The subjects of the philanthropy are now experienced enough to recognize genuine efforts from those that simply aren’t. Senior management of the organization must be involved in the actual execution. Fresh recruits these days have a stronger voice than in times past and these people often exhibit genuine idealism towards social welfare. Philanthropy ahs moved away from being an activity conducted by large firms, to one that is being pursued by small and medium players as well. Crucially, corporate strategy,goals and employee interests are now being closely aligned with non-profit needs.

Creating a company culture akin to the requirements of the entrepreneurs has always been a challenge. A management consulting publication has provided us with three ways in order to achieve the same. First of all the firm mu realize that it is part of a broader social group and thus communication with outside world beyond the organization is necessary. Also the company culture must be built from scratch and not improvised from an already existing culture prevalent in some other firm. Finally the onboarding process for new recruits must be smoothed in such a ways that the personnel are on solid footing from day one.

The great Formula 1 racer Juan Manuel Fangio once miraculously got saved from what would have been a life threatening injury only because he showed the willingness to learn from a chance piece of information he stumbled upon. Similarly the best of business leaders need to constantly learn by scanning information from across the world in a process termed as searchlight intelligence. Beyond corporate training, this comes from Personal Knowledge Mastery (PKM). The leaders need to seek such information, sense its availability and finally share with their respective teams.

When we think of sustainability, the first thought in the minds of many, is products within a category which are devised with a primary moral and social inclination. However, the giants who operate in sustainability are those who excel at business innovation and have indeed disrupted the market. Perfect case would be that of Tesla. On the other side exists the case of Kodak who were industry leaders but have slid off primarily because they ignored the more sustainable business model of digital photography and instead continued to be loyal to print and films leading to eventual downfall. Apple seems to have taken a huge slice off that industry through their i-Photo application. 

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