In the past two blogs, we have discussed the impact of mental toughness (also called mental resilience, perseverance and grit) on both individual and organizational performance. We explored the impact the global COVID pandemic has had on mental resilience, and we reviewed a bit of the research exposing the lack of mental toughness in the
How to grow and where to focus now vs. later A strategic alliance is an agreement between companies to maintain independence while working together on a mutually beneficial project. Often, these companies are referred to as partners. When going into business with another company, you must determine if you feel that you can trust each
When Should You Get an Audit? The purpose of an audit is to provide reasonable assurance that a company’s financial statements are free from material misstatement. Reasonable assurance is not absolute assurance and therefore does not put your auditor at risk for your financial statements. Material misstatement varies by account, industry, and volume. Material misstatement
Guidance for COOs There are five main strategies you can implement in your business to stimulate growth and increase sales: Cost Leadership: Organizations provide a low price, allowing them to compete for a broader customer base. Differentiation: Firms have a broader customer base because they are more unique. These firms offer a higher price and
Why Do You Need One Or the Other or Both? A Chief Information Officer (CIO) is responsible for the information that is both shared and produced within a company. Their key responsibilities include but are not limited to: Managing an organization’s technology infrastructure Working with vendors and internet service providers to improve productivity Oversee IT
Creating relationships with employees at all levels, not just peers or your direct reports is important and encourages an openness to your company. Being able to show your employees that you are approachable and that you listen will encourage them to stay with your company. While there are a variety of ways this can be
W. Edwards Deming said, “In God we trust. All others must bring data.” If there were a single quote to encapsulate the importance of quality Key Performance Indicators (KPIs), Deming’s would be just that. What are KPIs? KPIs are indicators used to measure a specified result in your business and aid in providing a focus
Collaboration and Communication are the two superpowers that will turn even the unimaginative companies into innovative machines. Two-way communication can mean the difference between success and failure when it comes to innovation (Forbes, 2018). Collaboration means “to work jointly with others or together, especially in an intellectual endeavor” (Merriam-Webster). Communication is defined as “a process
Are black swan events in a business really black swan events, or do we have on blinders? Are we ignoring the signals that we see in front of us? Black swan events offer a sizable change, like the Covid-19 Pandemic. They are large, unexpected, and unpredictable. They cause adversity, and the different things that came
A staggering 87% of employees take corporate information when they leave a company. How do you protect your organization from this? And what’s to blame for this information theft? The Great Reshuffle could be affecting your organization more than you initially thought. As employees of all ages and levels leave their jobs despite marked pay
