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Why traditional marketing is broken (and 5 ways to fix it)

Jim Ewel Marketing

This should be the golden age of marketing. We have more tools at our disposal to implement and measure marketing, and, until the pandemic hit, advertising budgets were at record levels. Even with the pandemic, budgets are only down by roughly 5%. But ask any CEO whether he or she feels that marketing is delivering record levels of business and customer value, and, for most business leaders, the answer is a resounding no! So, what’s wrong?

Utilizing principles from ‘The Art of War’ in your business

Victoria Fann Business Management, Services & Risk Management

Being a business owner in 2020 has been extremely challenging. Many businesses have not survived. Others have pivoted. Still, others are hanging on by a thread. Perhaps it’s time for some advice from an ancient master of strategy, Sun Tzu, the author of the 5th century BC book, "The Art of War." What does war have to do with business? In times like these, everything. Many of the rules businesses have lived by and depended on have disappeared, having been replaced by the constantly shifting sands of mandates handed down by government officials. What advice would Sun Tzu give us all these centuries later? Here are some principles from his timeless book that may be helpful.

The cure for pandemic fatigue in your organization

Linda Popky Business Management, Services & Risk Management

COVID-19 cases are surging across the U.S. and in many other parts of the world. Even as the prospect of effective vaccines gets closer and closer, hospital ICUs are overfilling, leading to round after round of restrictions and shutdowns in many locations. One thing is for certain: We’re tired of all of this. We want to be able to move freely — to eat in restaurants, gather at sporting events, and celebrate holidays with families. But to quote the Rolling Stones, you can’t always get what you want — unfortunately. From a business perspective, we need to keep our organizations focused and on track. As we approach the end of the year, here are a few considerations to keep in mind.

Manufacturing sector shows growth late in 2020

Bambi Majumdar Manufacturing

IHS Markit recently released an analysis showing that U.S. manufacturing and services activity is expanding. Following the U.S. presidential election, the first pictures of the state of the U.S. economy look promising. The welcome news of an imminent and successful COVID-19 vaccine has added to the optimistic outlook for the year ahead. The survey showed that the manufacturing sector is showing its quickest pickup since September 2014. It's a rosy and hopeful outlook, though IHS' data does not match every survey on the subject.

The 5-step website audit to maximize your business

Jon Schickedanz Marketing

The COVID-19 pandemic forced the world to reevaluate the way we do business. With offices and storefronts shuttered, a company’s website or app is no longer just a complement to the brand. Often, it is the brand. To make your website a true extension of your business, it’s critical to understand what your brand stands for first. Before you spend any money or time to improve your digital footprint, try this five-step audit to clarify your brand’s mission, vision, values, character, and experience.

But I’m just a volunteer

Robert C. Harris Association Management

Nothing is more deflating than to hear a member of the board say, "You don’t understand, I’m just a volunteer." Volunteers are afforded opportunities to make a lasting impact. Through their passion and ingenuity, they can affect standards of excellence, quality of life, and the success of people, businesses, and communities. Sen. John McCain described the importance of volunteering, "Nothing in life is more liberating than to fight for a cause larger than yourself, something that encompasses you but is not defined by your existence alone."

Locating yourself in the places of greatest opportunity

Hank Boyer Business Management, Services & Risk Management

Are you being intentional about locating yourself in the place of greatest opportunity, or do you just let things happen to you? People who make things happen weren’t born that way, and they aren’t simply lucky. For the most part, people in this group are quite intentional in that they purposely locate themselves in the places of greatest opportunity so that they can capitalize when opportunity presents itself. Dig into the life of anyone who started in humble beginnings, became successful, and then sustained that success, and you’ll find someone who has learned the secret of hanging out in the places of greatest opportunity.

US economy gains 245,000 jobs; unemployment rate drops to 6.7%

Seth Sandronsky Business Management, Services & Risk Management

U.S. employers added 245,000 nonfarm jobs in November after 638,000 new hires in October and 661,000 in September, according to the federal Bureau of Labor Statistics. November’s unemployment rate dropped to 6.7% from October’s 6.9% and September’s 7.9%. The November federal jobs report reflects an easing of COVID-19 restrictions to slow coronavirus transmission, which have been unsuccessful as local and state governments resume restraints on gatherings of businesses and public places. November’s national nonfarm jobless rate has decreased 8.0 percentage points from an April high. However, November’s rate is 3.2 percentage points higher than February’s figure.

Price adjustment clauses optimization

Martin Hinterwimmer and Pablo Scaffidi Business Management, Services & Risk Management

The aim of this article is to extrapolate the concepts related to portfolio management for the optimization of price adjustment clauses in service and material supply contracts. Given that the Argentine Republic is recurrently affected by inflation, private service contracts and material supply contracts in the oil and gas industry normally include price adjustment clauses, which allow the parties to keep prices at a reasonable level for the term of the contract.

ABLE accounts for the disabled: FAQs

Grace Ferguson Business Management, Services & Risk Management

One in 4 U.S. adults have some form of disability, according to the Centers for Disease Control and Prevention. Further, 1 in 3 disabled people aged 18-44 had an unmet healthcare need due to cost in the past year, and 1 in 4 aged 45-64 did not have a routine check-up. These are just a few of the many needs people with disabilities are unable to meet. To help disabled people save and pay for disability-related expenses, the U.S. Congress created the Achieving a Better Life Experience (ABLE) Act — which was signed into law on Dec. 19, 2014.

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