Strategies for Improving Workplace Behavior and Performance

From Leadership Expert Dr. Diane Hamilton

10 Top Links to Explain Social CRM

 

Organizations use technology to keep track of customers’ information.  The hope is to build relationships with current and potential customers.  This is referred to as customer relationship management or CRM.  Social media has changed the way companies handle customer relationships.  The following is a compilation of some of the top sources that I have found regarding how social media has impacted CRM:

  1. How Social Media CRM Affects ROI
  2. Don’t Cold Call – Social Call
  3. Facebook is the Future of CRM
  4. Search Engine Marketing:  Effects on CRM and Online Exposure
  5. How Social Media is Changing CRM
  6. Connection Between Social Networks and Cloud Computing
  7. The Impact of Social Media on CRM
  8. Social Network Management Enhances Customer Relationship
  9. How QR Codes Affect Cloud CRM
  10. Empirical Study of Social Network Effects on CRM

As social networking changes and grows, organizations must keep up with those changes in order to remain competitive.  The company that does not create a Facebook page or is not on Twitter, may lose out to companies that have taken advantage of these sites.  There are unique ways to utilize these social networks.  British Airways uses online surveys for customer satisfaction.  Burberry launched a fragrance with Facebook, Salesforce.com and Twitter.

To find out more about social networking and CRM, check out a video by Salesforce.com titled:   What is Social CRM.  Paul Greenberg defines Social CRM as, “a philosophy and a business strategy, supported by a technology platform, business rules, workflow, process, and social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted and transparent business environment.  Social CRM is the company’s response to customers’ ownership of the conversation.”

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Entrepreneurs: Crowdfunding Options from Fundable

 

Crowdfunding is the latest buzz word in entrepreneurial lending. Fundable is a new company that offers “crowdfunding for startup companies”.  Crowdfunding occurs when people network through the internet to raise money to support other people’s ideas or interests. Fundable’s site allows entrepreneurs to raise capital through crowdfunding activities.  Fundable’s site states, “Startups create a funding profile that provides an overview of their company, their fundraising goals, and the rewards they are willing to provide potential backers. Thereafter, they reach out to their personal networks as well as the broader Fundable community to enlist their support.”

 

Backers may pledge money and/or offer assistance.  Fundable mixes Kickstarter-style and equity-based crowdfunding.  Fundable shares similarities to Kickstarter, in that the process involves all-or-nothing funding.  Goals must be met in order to receive the funds and there is no limit to the amount of money that may be raised. Scribd.com explained that there are differences between Fundable and Kickstarter.  “Fundable will seek to fund for-profit companies, while Kickstarter is all about creative projects, like literature, movies and the like.”

 

With the recent push for Obama’s Jumpstart Our Business Startups (JOBS) Act, Fundable may be able to take advantage of the crowdfunding law to solicit funds online from unaccredited investors.  However, Mashable explained, “Crowdfunding legislation is so new that the U.S. Securities and Exchange Commission (SEC) hasn’t set rules for it and Fundable needs to be approved by the SEC as a broker/dealer before it can handle investments. In the meantime, the company is focusing on offering rewards-based deals — which makes it look, for the time being, like a less-populated version of Kickstarter.”

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Today’s Organizations Embracing Virtual Business

 

Traditional brick and mortar businesses may become a thing of the past.  Today’s modern workplace has embraced the virtual environment.  In Managing Innovation by Tidd and Bessant (2009), the authors explained, “virtual organizations are increasingly a feature of the business landscape.”  In the article Virtual Organizations, the author noted, “The ultimate goal of the virtual organization is to provide innovative, high-quality products or services instantaneously in response to customer demands.”

Amazon is an excellent example of an organization that has pioneered virtual business.  Other successful organizations include:  e-Bay, Zappos, and Netflix.  There are some businesses that may not initially seem to be virtual organizations. Jet Blue is one of those companies.  In an article by Cisco Press titled, Defining the Virtual Business and Its Benefits, the authors explain how Jet Blue reduced inventory through standardization, reduced real estate expenses, and allowed employees to work from home.

In the book The Virtual Organization by Davidow, the author explained that virtual products may exist before it is even produced. “Its concept, design, and manufacture are stored in the minds of cooperating teams, in computers, and in flexible production lines.”

To find out more about virtual organizations’ background, characteristics, challenges, and future potential, check out Virtual Organizations.

 

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Big Business Embracing Entrepreneurial Thinking

 

Wal-Mart recently inspired an unusual entrepreneurial competition. Inventors could submit product ideas, with the hope of having their product available on the stores’ shelves.  Wal-Mart is not the first company to recognize the importance of fostering creativity in unusual ways. In college-level innovation and entrepreneurship courses, one of the things students learn is that organizations place a high value on entrepreneurial thinking.

Wal-Mart initially created the entrepreneurial contest  to create buzz in social media.  The popularity of the promotion led to some creative ideas by inventors who sought attention for their creations. The Wall Street Journal reported that the winner would have the opportunity to sell on Wal-Mart.com as well as in the physical stores.

The idea of organizations recognizing the importance of entrepreneurial talents is becoming more popular.  Check out some of the following articles that demonstrate the value of entrepreneurship in the modern workplac

  1. Forbes: A Growing Startup Should Hire Only Entrepreneurs
  2. Bloomberg:  Need Innovation? Hire an Entrepreneur
  3. Economic Times:  Top IT Companies Hiring Failed Entrepreneurs
  4. Google Hires Digg Entrepreneur
  5. Andrew Hamilton: Large Companies and Entrepreneurs Can Work Well Together
  6. Companies Hiring Entrepreneurs for Innovation
  7. UC Will Hire Entrepreneur to Set up Companies
  8. Entrepreneurship and Innovation in Large Companies
  9. Leveraging Dynamics Between Large Companies and Entrepreneurs
  10. Entrepreneurs Organization

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Entrepreneurs: Funding Options from Kickstarter

 

Entrepreneurs often find that one of the hardest parts of realizing their dream is to obtain financing.  Some have tried microlending sites like Kiva.org.  Others have discovered a new lending platform called Kickstarter.  The site’s tagline is “a new way to fund and follow creativity.”

Kickstarter describes its site as the world’s largest funding platform for creative projects.  This unique site allows entrepreneurs to keep ownership and control over their work while tens of thousands of people pledge millions of dollars to help finance their creative ideas.  The idea must reach its funding goal or no money changes hands.  Entrepreneurs that receive their anticipated funds, can test concepts without risk.

Kickstarter’s Blog offers advice to those interested in creating a new project. The site allows for people to browse current ideas or to create their own.  To begin a new project dedicated to film, art, technology, design, food, publishing and more, creators can check out Kickstarter school.

Once a project is listed on the site, it displays timeline and pledge information including:  Percent Funded, Amount Pledged, Number of Days Left to Receive Funds.  The picture displayed below demonstrates some examples listed on Kickstarter’s site.  On the site’s curated page, it lists “projects curated by some of the world’s foremost creative communities.” The site also allows users to view projects by staff picks, most popular, recently launched, ending soon, small projects, most funded, as well as by category and location.

 

For additional help with the entrepreneurial process, check out the Top 30 Links for the Successful Entrepreneur.  

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What is Socialnomics?

 

In Erik Qualman’s 2010 book Socialnomics, he described how socialnomics exists “where consumers and the societies they create online have a profound influence on our economy and the businesses that operate within it.”

Social media is the new word of mouth.  Now that individuals look online to find out information about products from their peers, marketing has taken a new turn. Companies must create a social networking presence in order to survive.

Click here to see some examples of socialnomics in action.

The following video gives some interesting statistics about the social media revolution.

 

Could Augmented Reality Technology Inspire the Next Steve Jobs?

 

One of the biggest obstacles the new entrepreneur faces is coming up with a unique idea.  The Steve Jobs and Mark Zuckerbergs of the world have raised the creativity bar.  By creating augmented reality phone apps, certain companies are getting attention.  Autonomy has developed a new technology called Arasmsa that may change how people interact with objects.  It works with a smart phone and can reveal some things that are not readily visible to the naked eye.  Check out the following video:

With the popularity of QR codes and now new technologies like Arasmsa, there is potential for some amazing app possibilities.  For example, you can now point your phone at a magazine and have an app translate the material from one language to another.  There are a variety of augmented reality apps already available on the market.  Check out 40 Best Augmented Reality Phone Apps and 2 Augmented Reality Technologies that are about to Change the World.

The question is who will be the next Zuckerberg or Jobs to create an idea that goes above and beyond what is already out there?  Perhaps they are listed in the article 8 Important Silicon Valley Innovators Not Named Steve Jobs.  Only time will tell.

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Chief Officer Abbreviations Explained: CEO, COO, CFO and More

 

There are a lot of abbreviations for top leadership positions that contain the words “Chief and Officer” in the title. It may be confusing to keep the players straight. It may help to explain that a corporate officer holds a management-level position, such as a President, Vice President, or General Manager. Other common positions include:

  • CEO – Chief Executive Officer – This person is the highest ranking corporate officer.  They are the head of management for an organization.  They report to the board of directors. They make high-level decisions about policy and strategy.  The people that report to the CEO include:  The CBDO (Chief Business Development Officer), CFO (Chief Financial Officer), COO (Chief Operating Officer), CMO (Chief Marketing Officer), CIO (Chief Information Officer), CCO (Chief Communications Officer), CLO (Chief Legal Officer), CTO (Chief Technology Officer), CRO (Chief Risk Officer), CCO (Chief Creative Officer), CCO (Chief Compliance Officer), CAE (Chief Audit Executive), CDO (Chief Diversity Officer), and CHRO (Chief Human Resources Officer).  Steve Jobs was an example of a top CEO.  To find out more about these other chief officer positions, click here.  Check out:  The Best Performing CEO’s in the World.
  • COO – Chief Operating Officer – This person is responsible for the day to day operations or an organization.  Not all companies have one.  In 2006 more than 60 percent of Fortune 500 companies did not have a COO.  This person may also be called the company’s President.  This person could be thought of as the second in command behind the Chairman or CEO.  An example of a top COO is:  Tim Cook was the COO for Apple before replacing Steve Jobs as CEO. Check out: List of Famous Chief Operating Officers.
  • CFO – Chief Financial Officer – This person manages the corporation’s financial risk.  They deal with data analysis, financial planning and record keeping.  Although they report to the CEO, they may also sit on the board of directors.  Peter Oppenheimer is Apple’s CFO.  Check out:  Bonus Babies . . . The Best Paid CFO’s.
  • CMO – Chief Marketing Officer – This person is the head of sales, product development and all things marketing-related.  The CMO can report to either the CEO or COO. Their job is to obtain growth through sales and marketing.  The CMO has become more commonly discussed in recent years.  Check out:  The Chief Marketing Officer . . . A new Boardroom Role.
  • CIO – Chief Information Officer – This person is the head of information technology.  They may report to the CEO, CFO or COO.  They must create strategic goals to increase information accessibility and manage integrated systems.  The CIO and CTO roles are often confused.  Check out:  What is the Difference Between CIO and CTO.

There may be other chief officers’ positions in other industries as well.  For example in hospitals there could be a CMO (Chief Medical Officer), a CNO (Chief Nursing Officer) and a CMIO (Chief Medical Informatics Officer).

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Companies Rewarding Employees for Entrepreneurial Ideas

 

Gone are the old days of having a suggestion box at work.  Today’s modern company has set up some much more sophisticated ways of obtaining knowledge and creative ideas from their employees.  The following list contains some useful tools that employers have utilized that have even replaced their need to go to outside consulting firms:

  • Innovative Management Programs – Sites like Brainbank, InnoCentive and Spigit are just a few of the popular sites that companies use to allow employees to submit and vote on ideas.
  • Idea-Management Websites –  PriceWaterhouseCoopers created a company site to gather employees’ input about cost cutting, improving customer service and other ways to improve revenue.  These sites can be very successful.  IdeasAmerica, an association for suggestion administration, surveyed customers and found that ideas submitted by employees saved over $110 million or an average of $1256 per idea.
  • Set up KiosksBruce Power is one of many companies who have set up idea kiosks.  Resembling ATMs, these kiosks are easily accessible and allow employees to vote on ideas.
  • Create Financial IncentivesCompanies may give rewards for employees’ ideas that result in cost savings.  They may receive financial incentives or points to use toward rewards.
  • Set Up Idea ChallengesAllstate created an online challenge for its employees to come up with some good ideas about how to create their company app.

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Stand Out In Job Market with Mini Resume Cards

Combining a resume with a business card in a smart, easy to read fashion, is a great way to capture a future employer’s attention.  ResuMiniMe is a site that has done a nice job of creating such a card.  In just minutes, job-seekers can create a traditional-sized business card that promotes their strengths while serving as a nice ice-breaker for networking opportunities.  Prices start at $90 for 1000 cards.  Gift packages are available.  A free profile on LinkedIn is required. 

They offer two style choices for the back of the card.  A traditional standard style that lists education and experience is one option.  Also offered is the option to include a QR code on the back.  For more information about using QR codes to find a job, click here. 

The following are examples of the cards that can be created on this site.  The back of the card is shown vertically here for easy readability.

Front (although not listed here, a phone number may be included):

Back Traditional:

Back QR Code Version:

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