Image source: Inc.com
Thought leader is a term used to describe individuals or companies that are recognized as experts and an authority in selected fields of specializations. It's a great honor to be among the businessmen and entrepreneurs to earn that title. But, you shouldn't call yourself a thought leader out loud or in public - even if others consider you to be.
Topics: management, entrepreneurship, leadership
Image source: Harvard Business Review
Creativity has become one of the most valued personal characteristics in the modern business world. However, not everyone is born with this trait. This still doesn't mean you can't be perceived as a creative individual, even if you're not essentially known as one across your organization.
Topics: management, leadership, personal branding
Image source: Small Business Trends
Good employee training is essential for every small business. It helps increase your profits, and companies that conduct internal training as an ongoing process tend to reach their business goals more successfully.
Topics: management, training
Image source: Inc.com
Jocko Willink and Leif Babin were members of the US Navy military elite (SEALs) during the battle of Ramadi in Iraq. They are also the authors of the book called Extreme Ownership, how US Navy SEALs lead and win, in which they share leadership concepts that are used within the US Navy SEALs.
Topics: management, leadership
Image source: MIT
In economics and finance, investors are perceived as rational actors focused on maximizing profits, and markets are anticipated to operate near a state of perfect efficiency. However, in reality, market sentiment creates radical swings like we've all seen. In order to understand how financial markets change, the purely efficient view has to be reconsidered.
Image source: Small Business Trends
Small business owners often don't make the right use of financial statements. They don't fully understand what they are, and can't read them properly. Although most people assume the business owners know these numbers, they usually don't have the knowledge they need for understanding and planning for their business throughout the year.
Topics: management, finance, strategy
Image source: Entrepreneur
Many business leaders are known to make decisions based on instinct and put a lot of trust in their inner voice. Richard Branson reportedly said, “I rely far more on gut instinct than researching huge amounts of statistics". However, this might not be the best growth strategy tactic if you're a small business owner. If your instinct turns out to be wrong, you don't have a corporate cushion to catch you when you fall.
Image source: Harvard Business Review
Behind every successful company, there's a flawless business strategy execution. But in these days of digital transformation, if you're looking to disrupt the markets it's not enough to focus only on creating the best business model.
Topics: management, entrepreneurship, strategy
Image source: McKinsey Global Institute
A short-term approach at the corporate level has been the subject of debate for a long time. Research has been done, and systematic measurements of long-term and short-term thinking has provided us with evidence that companies with long-term views outperform their short-term peers across many fields.
Topics: management, economics, strategy
Image source: Harvard Business Review
The human brain has a tendency to think linear - it just wants to make straight lines to simplify understanding. Although many situations this thinking serves us well, business is full of highly complex situations straight lines can't fix. Are you able to recognize them to logically process the situation, or do you rely on your gut?
Topics: management, strategy, cognition, bias