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Imagining how hotels and restaurants are run in smart cities
Linchi Kwok Travel, Hospitality & Event ManagementWe have seen more robots and machines are replacing humans in the service sector. This trend is irreversible, but the good news is there are ways to cope with such changes at work. What if these changes also take place in the macro level? Then, what can businesses do to embrace this wave of innovations?
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Struggling malls aim to satisfy customers’ hunger
Katherine Radin RetailWith the acceleration of retail closures in recent years, shopping malls and commercial landlords are finding themselves pressed to find new, profitable tenants. I've previously noted that commercial property management teams have begun looking for other ways to fill the void left by shuttered retailers.
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3 easy tips for negotiating commercial leases
Dale Willerton and Jeff Grandfield RetailFor many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Metals Thoughts: Same as the old boss
Brad Yates Natural ResourcesWe seem to be gearing up for the next overreaction as markets and President Donald Trump learn that it's difficult to implement immediate change from the executive office. Geopolitical strife and some disappointing U.S. data managed to give us a bid last week and push us up out of the two-month $1,200-1,260 range amidst dollar weakness, but the last few days have seen a slight reversal of trend.
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3 rules to help beat the competition (instead of your customers)
Damon Sayles MarketingFirst, it was Uber, which continues to find itself in the news for all the wrong reasons. Then, it was Pepsi nearly breaking the internet and adding a new line in the oil-and-water discussion of race relations and police brutality. Both companies went through situations that left them embarrassed, backpedaling and answering to myriad negative headlines.
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How looking back can help today’s entrepreneurs look forward
Cait Harrison Business Management, Services & Risk ManagementBecoming an entrepreneur may be one of the most challenging things you've ever done, but it's probably also one of the most rewarding. Day-to-day, you're focused on your business. Whether you're developing new ideas or handling customers, staffing and marketing issues — the to-do list goes on.
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How Snapchat can drive foot traffic
Emma Fitzpatrick MarketingSnapchat went public last month. There was a lot of buzz surrounding this IPO, and CNBC reported that there were 12 times more orders than there were shares offered. On the first day of trading, share prices rose as high as $26.50, which is about 30 percent less than Facebook's debut cost per share.
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How not to get replaced by machines at work
Linchi Kwok Travel, Hospitality & Event ManagementI was not exaggerating in my previous article when I discussed how "machines will soon perform more service jobs than humans." My proposition was supported by more than 10 recent examples where service jobs are being replaced by robots or automatic service in restaurants, hotels and other fields in the service sector.
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Grocery stores changing tactics to beat the competition
Bambi Majumdar Food & BeverageThree decades ago, bigger grocery and supermarket brands were swallowing up their smaller counterparts and squashing competition in the age-old way of business tactics. But grocery stores are no longer competing with just each other; now they must deal with their online counterparts as well.
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The ultimate connection: Word of mouth
Jessica Taylor MarketingHow do customers find out about your business? According to a recent survey, 85 percent of small businesses stated that it's by word of mouth (WOM). Since small businesses are more about the personalized approach, they are able to connect with customers instilling trust and loyalty, which ultimately passes onto friends. WOM isn't something you can purchase, but it's also not difficult to get. It's truly based on giving your customers an incredible experience that makes them want to come back for more.
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