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Key Priorities For The Leaders In The New Normal

Amidst the pandemic, various organizations have extensively and often successfully embraced the new methods of working. They’ve also adapted digitization and restructured their supply chains. All of this has been inevitable, but it's not going to be enough. To get ready for the post-pandemic era, leaders are required to work more than just fine-tune their everyday tasks; they must get prepared and willing to reconsider how they function, or even why they exist. In other words, leaders need to take a step backward, contemplate, and take into account a broader perspective. Here are the key priorities that organizations must adopt as their Polaris while they follow the developments that are r Read more

10 Ways To Meet Customer Expectation In These Uncertain Times

The repercussion of COVID-19 has intensified the uncertainty in almost every sector of our economy. The battle is real, particularly for companies and their customers. During tough times like this organizations are pressurized to adapt in line with the new circumstances. But there's one aspect that can't be compromised, and that's customer experience. For every organization customer experience is the foremost factor which plays a crucial function in determining its success. As per a survey, 73% of consumers claimed that they become fond of a brand and stay faithful to it, simply because their customer service was remarkable. Also, 77% of clients are most likely to endorse a business brand to Read more

10 Ways To Develop Resilience In Your Business

According to the Mental Toughness model, mental toughness incorporates 2 things: Resilience, the capability to recover from mishaps and failures; and Confidence, the capability to identify and grab opportunities. It demonstrates resilience as the method of accommodating well while confronting adversity, trauma, disaster, threats, or any substantial source of stress including family and relationship issues, critical health issues, or workplace or economic stressors. It means recovering from such tough situations. Research shows resilience is ordinary, not something extraordinary and that people generally exhibit r Read more

Salary Benchmarking: A Win-Win Process For All Organizations

Companies are always keen on knowing whether their remuneration packages are in line with what is commonly called the 'market rate.’ It involves extracting information about the pay packages from their competitors, which isn't very openly available for obvious reasons.  Despite the complexity, the task needs to be completed. It defines the future for every company thriving in markets where varied salaries directly influence the retention and loss of highly valued employees.  The matter of concern here is, therefore, salary benchmarking. 

What Is Salary Read more

6 Signs Of Employee Burnout And How To Prevent It

The global pandemic has given rise to a growing challenge in workplaces worldwide: employee burnout. As per research by a top consulting firm, before the pandemic, 76% of employees mentioned experiencing burnout sometimes, while 28% of employees stated they have been burned out frequently or always at work. However, with the mishaps of last year, the figures are ever-rising. It must be noted that employee burnout is not simply about needing a break from work or being briefly exhausted by a tough job. Rather, it’s a condition of long-term workplace exhaustion that brings about tiredness, exasperation, and a defeatist Read more

How Can Organizations Navigate Through These Uncertain Times

With no manual present on how to respond to the increasingly evolving issues regarding the global coronavirus pandemic, most decision-makers are struggling to address the correct balance between judicious cautiousness and anxious reaction. With so many uncertainties, playing it extra-safe is undoubtedly a practical response. Yet playing it too safe has its own disadvantages. Steering through the uncertain future course with methods that reduce the ongoing disruption would require all who are in the higher management roles to maintain calm and reanalyze risk past its normal parameters. The American Psychological Association claims resilience< Read more

Embrace Sustainability To Drive Your Business

The fact is sustainability is turning more crucial for every industry out there. 62% of business leaders today believe that a sustainability strategy is essential to be competitive, and another 22% view it'll be in the future. As the expectations on company obligation are sky-rocketing, and as limpidity turns more widespread, businesses are discovering the emergence to act on sustainability. Before getting to the reason sustainability is crucial for the success of a business, it is essential to outline what sustainability in business is.

So what is meant by sustainability in Read more

Develop A Winning Strategy For The Digital World

Digital initiatives are reintroducing the policies of planning and embracing winning strategies almost instinctively. The huge revolution of the business world in recent years has been powered by ‘Digitalization’, primarily stimulated by “pure plays”, organizations that only have online projects and aren't laden by both the resources or the organizational inertia of most imperative, conventional businesses. Legacy corporations seeking to make similar performance upgrades need to begin by revisiting the conventional Read more

How Leaders Can Adapt In The Next Normal

While coping with the coronavirus crisis and its impact would be the imperative of our generation, the question arises, ‘How will the new normal look like?’ It is not possible to realize what is going to happen. However it's possible to take into account past lessons, both distant and latest, and following that, to contemplate effectively about the future. During the pandemic, organizations have extensively and often successfully accommodated new approaches of operation. They’ve additionally adopted digitization and rearranged their delivery chains. All of this is necessary, however, it's not going to be enough. To get ready for the post-COVID-19 era, leaders are required to do more Read more

How To Build Your Organization's Strategic Agility

Considering how fast-paced today’s world is, few matters hold greater importance to business success than a quick response to unexpected alterations in market conditions or client needs. Whether the disturbance is caused by the advent of new technology, a new contender whose appearance was expected, or drastic modifications in financial policy and trade agreements, the organizations that reach the pinnacle of magnificence are generally those that respond the fastest. You can call this strategic agility. What is strategic agility? The capability to constantly accommodate and adapt strategic course within the central management of the business, as a feature of strategi Read more

Why Culture Change Is A Priority Now For The Leaders

When it comes to the question ‘what unique thing can you do in today's date to assist your enterprise return to a new normal,’ where will you begin? With disruption a common reality now, modifying the company culture to be extra nimble, risk-tolerant, and experimental is the most important HR and business opportunity and the hurdle of the decade. Organizations that incorporate a quick prevailing culture and scaling will revolutionize at a pace that leaves their contenders and rivals behind.

Why does culture have to be a priority in this post-COVID world?

A study conducted recently at Boston Consulting Group determined that organizations that concentrated on cu Read more

The Future Of Work: What Skills Will You Require For The Future?

We all understand that virtual and AI technologies are modifying the sector of work together with the need to learn new abilities and discover ways to constantly adapt as new occupations emerge for today’s personnel. Also, we realize that the COVID-19 pandemic has multiplied this modification. Since this is the period of the transformative effect of the 4th Industrial Revolution, it is high time to get started with the planning for the future of work. Believe it or not, in five years from now, more than one-third of the abilities and skills you consider is crucial for today's generation of employees might be altere Read more

Double Your Consulting Sales

Isn't it tiring trying to constantly demonstrate your value to potential consulting clients? Wouldn’t it be a lot less complicated when you needn’t leap through hoops simply to prove that you could assist them? The greater the value your potential customers associate with you, the greater they will be ready to work with you, and the greater they may be inclined to put money on you. So promoting consulting services not only calls for understanding a way to promote and sell your business, but also a way to qualify customers for your specific services. Both will let you save time and result in higher outcomes, that is, to finalize the deal and winning new or repeat projects. So what can Read more

Embedding Risk Management In The Company Culture

Following the 2008 crisis, financial establishments have been spending billions of dollars on risk management. However, most of their amendments have been short-lived since they failed to change their fundamental company culture. According to Weber Shandwick’s latest research, only one in every five personnel globally strongly admits that their business enterprise creates a positive culture, paving way for a lucid opportunity for improvement.

What is risk culture?

Risk culture is the same for every commercial enterprise. It is a culture that is consta Read more

Make Payroll Your Global Company’s Strategic Resource

Payroll influences the worker experience and presents records vital for making strategic business decisions. At the same time, it’s complex, includes a high risk of error, and may have considerable repercussions whilst errors occur. For international corporations, these issues are way more challenging as they need to additionally factor in taxes and legal guidelines affecting personnel worldwide. Albeit global payroll has its complications, it’s more than just a process to be handled. It can be used as your global company’s strategic asset. A specialized payroll process can enhance the recruiting and retention of personnel, engagement, and generate more visibility. Global industr Read more

Are You Worried About The Legal Risks Of Your Company?

While assessing your business risk profile from time to time, are you being worried about the several legal risks that emerge out of your business operations? Legal risks are typically specific and identifiable, and after they take shape, they can turn out disastrous in a lot of ways.

Why manage legal risks?

Legal risks intimidate you with various undesirable consequences. It includes huge fines, lack of goodwill, terrible reputation to even closure of business, loss of licenses, or imprisonment for people who are accountable for non-compliance with numerous legal guidelines. Here are some of the most important reasons why you need robust legal risk management Read more

Top 9 Management Consulting Ideas In India In 2021

In the present day, the management consulting industry is valued at 132 billion USD. This huge, especially profitable industry keeps developing globally, with industry hotspots situated in the UK and the US. To begin with, a consultancy business is a type of business that doesn’t require a whole lot of finance. The complete knowledge regarding the field is sufficient to start the lead. What is Management Consultancy? Management consultancy services offer professional guidance in the field of interest of the client's organization. The fundamental goal of a consultancy firm is to assist businesses to obtain their desired goals through learning. According to a last y Read more

The Evolving Role Of A Business Consultant In 2021

Consulting is a massive industry. In 2018, companies worldwide invested greater than $155 billion with consulting corporations and specialists. 75% of organizations spend between 2% and 5% of their consulting assistance fees. And another 13% invest greater than 5% of their expenditure on consultants. A consultant is someone who is a specialist in a specific field and offers expert advice to people and organizations in their field of expertise. It is contracted generally on a temporary or agreement basis till a specific goal has been attained. Rely Read more

Business of Culture: Aligning People Ideals to the Company Culture

According to a current LinkedIn survey, it is discovered that people could instead put up with a decreased pay (65%) and let go of an elaborate title (26%) than cope with a terrible workplace environment. Applicants are in search of places of work wherein they could intertwine their ideals with those of the organization, and work collectively for a common motive, and achieve success. As authorities struggle with ways to recruit the best applicants and retain employees, they ought to reconsider how they’re shaping and constructing a culture that unites everyone around a com Read more

Managing Business in Uncertain Times

Uncertainty is very similar to weather conditions. A circumstance over which people and businesses have little or no control. The extremity of uncertainty, just like the severity of the weather, can be fluctuating up and down. At most times, across the world, CEOs are working under a sequence of intense uncertainty alerts. How to come up with a good business approach in highly uncertain business environments? Some executives are looking forward to forming the future with high-stake bets. The business press likes t Read more

3 Smart Ways Businesses Can Improve Employee Morale Following COVID-19

While work may very well never be "normal" again, businesses are starting to learn how to best adapt to the “new normal” in the wake of the coronavirus pandemic. While many people may be eager to return to the office, there are a number of things to keep in mind in order to keep everyone as safe as possible. However, when it comes to adapting Read more

How to thrive in the corporate world?

Importance of Growth Strategy to Thrive in the Corporate World

“Growth is never by mere chance; it is the result of forces working together”.

- James Cash Penney

To thrive in the market, a company must craft its growth strategy skillfully and chart the path with poise and focus. The growth strategy helps the management identify various possibilities and choose the avenues of growth that will elevate them to the next stage of the company’s evolution. It is a process that every company follows in order to grow their business stronger and bigger. The company has to increase its revenues and strengthen other financial Read more

DEPLOYMENT OF VALUE STREAM MAPPING PRINCIPLES IN A SERVICES INDUSTRY CAN PROVIDE LARGE IMPROVEMENTS

Deployment of Value stream mapping principles in a services industry can provide large improvements The most important aspect that a company needs to focus on in order to ensure profitability for itself is to control the cost of production.  The major contributors to the cost aspect of production tend to be Manpower cost, Material cost, Machinery cost and Facility cost. The aforementioned costs need to be optimised to ensure maximum profitability from the product. Productivity programs are commonly deployed for the production side of the product based companies and not much emphasis is paid to the service side that eventually becomes the face of the product in Read more

IMPORTANCE OF VISION, MISSION AND VALUES (VMV) FOR AN ORGANIZATION

VMV as it is called, sounds like a no brainer to the world of strategy. Simply formulated and nicely articulated few sentences make up to the most important column of our websites. While it is important to lay down boundaries and focus in what we want to achieve, how we want to achieve and why we want to achieve, it is more important to ensure that the thoughts should reflect and encompass the changes that happen at both the micro and macro level. Not many organizations understand the power of having and practicing the right VMV. The “many organization” here includes companies from various segment, industry and sizes precisely from a bootstrapper to a record breaker and hence VMV i Read more