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While a certain dose of consistency always exists in the world of business, there are times that offer more opportunities than others, especially for small business owners. If you're looking to start a small business, or you're currently growing one, the time is now right. Technological, economic, and even psychological factors are all working in favor of the business environment.
Topics: management, entrepreneurship, economics
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: 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: 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
With all the recent talk about trade deals in the news and politics - it's important to take a step back and consider what they are.
Topics: management, international, trade, politics, finance, economics