Several market researchers have identified consumer preferences for “foreign” products. Studies suggest that consumer prefer foreign shore developed or manufactured product at a cost higher than domestic companies, because of higher quality and “country-of-origin” influences. However, in markets like India and China, where domestic competitors have built substantial product and market knowledge, sticking to the... Continue Reading →
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Many reports assert that about 70% of all change management efforts fail. The reasons for failure could be many. Studies cite lack of champions, inadequate or inconsistent senior management support, and top down change push without involving the people at all levels or paucity of high quality resources review and guide the change management process... Continue Reading →
A strong willed founder sees an opportunity, builds clientele and services and all suddenly disappears leaving the business at risk. Academicians Sascha Becker and Hans Hvide in their study of 341 privately owned companies observed that the death of founder in the first 10 years of the establishment had a deep and profound effect on... Continue Reading →
Rewards and recognition is an important organizational element that used wisely can hasten the pace of business transformation and bring about the desired change in behavior and outcomes at various levels. Rewards and recognition come in many forms: monetary, prize, gifts, awards, empowerment, etc. A common fallacy in many organizations is that they tend to use... Continue Reading →