“The World’s Most Attractive Employer companies, must rank in the top 90% of employers within at least six regional markets. If an employer is not listed or is ranked outside the top 90% in a market, it gets a default ranking which is equal to the position of the last company in the top 90% for that market. Results are weighted by GDP, so that a high ranking position in the U.S. has a greater influence than a high ranking position in India, for example.”
Here are the 2016 global top ten most attractive employers for business:
Each year,Universumpublishes the results of its extensive surveys in various fields and countries/regions. This post covers Universum’s 2016 survey of more than 72,000 U.S. students (more than 20,000 business majors) at 359 universities and colleges about the most attractive employers for those interested in business careers.
For job candidates, the benefits of these surveys is obvious. But they are also essential for potential employers too.According to Universum:
“Today’s businesses operate in a highly competitive employment landscape, and you can gain valuable insight into how your organization is perceived by tomorrow’s workforce with the results of Universum’s 2016 Most Attractive Employers ranking based on student talent in the USA.”
Here are the top most attractive employees, based on Universum’s U.S. survey. [Number 10 is an especially interesting choice]:
Note: This post applies to both (a) business planning and the firm’s flexibility to change as needed and (b) personal planning and YOUR flexibility to change as necessary. In either case, we must be able to adapt to an uncertain future.
Scenario planning involves planning for the future by understanding that different marketplace outcomes may occur in response to any strategy and that each possible marketplace outcome must be planned for to avoid the worst case scenario.
Here’s a simple example: Suppose that a major soda company introduces a new non-carbonated cola beverage into the marketplace. These are just a few scenarios that are possible:
The sales of the new beverage meet expectations and do not cannibalize the sales of other company products. Overall company revenues and profit rise.
The sales of the new beverage meet expectations, but slightly cannibalize the sales of other company products. Overall company revenues and profits rise slightly.
The sales of the new beverage meet expectations, but greatly cannibalize the sales of other company products. Overall company revenues stay the same, and profits fall somewhat due to the investment in the new item.
The sales of the new beverage do not meet expectations and do not cannibalize the sales of other company products. Overall company revenues rise very little, and profits fall a lot due to the investment in the new item.
The premise of scenario planning is to anticipate the possibility of each of these outcomes occurring and have in place a pre-planned framework (contingency plan) to deal with each scenario.
Recently, Shardul Phadnis, Chris Caplice, and Yossi Sheffi wrote an article for the MIT Soan Management Review titled “How Scenario Planning Influences Strategic Decisions.” The authors reached three major conclusions:
“The use of multiple scenarios is not necessarily an antidote for overconfidence.One should not assume that simply using multiple scenarios to evaluate a long-range decision will help alleviate the negative effects of decision makers’ overconfidence in their own judgment.”
“Scenarios influence judgment — and their content matters.More than half the judgments in our studies changed after single-scenario evaluations. Scenario users became more favorable of investing in an element — either by increasing confidence in their original recommendation to invest, decreasing confidence in their original recommendation to not invest, or changing their recommendation to favor the investment — when they found the element useful in a scenario.”
“The use of multiple scenarios can nudge executives towards more flexible strategies.Executives often choose strategies optimized for a particular environment. While such strategies may perform well in the environment envisioned at the time of their implementation, they may not be easily adaptable to new opportunities or in response to unexpected threats. Under such circumstances, evaluating strategic decisions using multiple scenarios can help executives appreciate the importance of choosing more flexible assets or approaches — even if doing so is not the most optimal choice for present-day conditions.”
by Joel R. Evans and Barry Berman, the Zarb School of Business
One of the most crucial areas of decision making for small firm is pricing. Yet, we have found that small firms often do not have well-conceived pricing plans. And many such firms seem to panic (or ignore the problem) when large discount-oriented firms enter their trading areas – or become more aggressive. This is not necessary; small firms CAN prosper in today’s more discount-oriented environment, as long as they have a good understanding of their niche in the marketplace.
With this in mind, we have prepared a six-part series on pricing. We offer a number of tips to help you improve your pricing decisions. In this article, we begin with several questions for you to consider. When you address these questions for your firm, always ask yourself the rationale behind your answers:
Do you have an overall pricing philosophy? What is it? (high-end, medium, or low-end)
What are the characteristics of the people who shop with you? store? For what reasons do they shop at with you? (for low prices, for convenience, for service, etc.) Is this consistent with your pricing philosophy?
How do you compute prices?
When setting prices, do you take all of your operating costs into account? (including your own salary)
How does your firm use manufacturer suggested list prices?
Are your prices “fair” to the customers who shop with you? What does the term “fair” mean to you?
Do you or one of your employees research competing firms to check on their prices? Do you check competitors’ ads for prices? If you do check competitors’ prices, how does your firm react to what you learn?
How often do you change prices? Does this vary by product category?
How often do you run sales? Does this vary by product category?
Do you plan for stock shortages (due to shrinkage and clerical errors) when setting prices? How?
Do you use price lining? (whereby you sell items at a range of prices, such $12, $17, and $25 dollar ties)
Do you advertise prices? Where?
Do you let customers bargain over the prices of any items?
How do you use prices in competing with larger firms? (such as Amazon)
Have you formed a buying group (cooperative) with other small firms to get better terms on your purchases?
Do you use odd prices ($4.95, $59.95) rather than even prices ($5.00, $60)?
When you take a physical inventory, how do you compute the value of the merchandise remaining in stock?
Do you understand the difference between an initial markup and a maintained markup? Do you use these concepts in setting your prices?
How are your prices displayed?
What payment method(s) do you accept? (cash, check, store charge, bank card, PayPal)
Do you understand both of these terms: Elastic demand? Inelastic demand?
What do you think about everyday low pricing?
In Part 2, we start examining these issues. So, why don’t you look over the preceding questions now and come up with your own answers. Then, compare them with our commentaries.
As a Zarb School alum, current undergraduate or graduate student, faculty member, or any other connected-device user, the Internet of Things is a crucial concept for today and the future.
With the rapid advancement of technology around the globe — and our expanded use of connected devices — the Internet of Things (IoT) is here in full force, and major IT companies are acting accordingly in expanding their client offerings.
For those who are unfamiliar with or unsure about the concept, what exactly is the Internet of Things?According to TechTarget:
“The Internet of Things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, animals, or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.”
Here is an interesting infographic on the IoT and its importance from B2B giant Oracle.
Over the past few years, many universities, companies, and analytics experts have become greatly enamored with “big data,” now that such data are easier to collect and analyze. Nonetheless, there still remain many instances when “small data” can be quite useful.
“Ask Google how many people are searching for the term ‘big data’ and you’ll geta graph that resembles a steep mountainside. The concept has become incredibly hot over the last few years and it shows no signs of cooling anytime soon. And why not? Every day, our devices spew out an incredible amount of data on our behavior, preferences, and relationships. What could be wrong with our newfound obsession with combing through numbers for profit-boosting insights and previously unnoticed correlations?”
“The trouble according to Martin Lindstrom, author ofSmall Data: The Tiny Clues That Uncover Huge Trends, is when we overuse data to the point that we forget to actually talk to people. In an interview with Knowledge@Wharton, Lindstrom argues that what he terms ‘small data,’ i.e. face-to-face conversations with actual, real-life customers often in their own homes, is a more reliable source of great business ideas than massive databases and sophisticated number crunching. ‘I think it’s fair to say if you take the top 100 biggest innovations of our time, perhaps around 60 percent to 65 percent are really based on Small Data,’ Lindstrom claims, citing breakthroughs ranging from the idea for Snapchat to the resurgence of Lego as examples of the fruits of small data.”
Click the clever image to read more from Stillman.
The 2016 BrandZ most valuable global brands report by WPP’s MillwardBrown is now available.
This year, a lot of FREE information about valuable brands is presented online, in addition to what is shown visually in our post. To access these other materials, click the links provided below the three visuals we highlight.