Print Page   |   Your Cart   |   Sign In
Business
Group HomeGroup Home Blog Home Group Blogs

Effects of Investing in Your Team Before, During, and After Economic Uncertainty

Posted By Kim Watson, Corporate Alliance Production, Tuesday, March 31, 2020

THE EFFECTS OF INVESTING IN YOUR TEAM BEFORE, DURING, AND AFTER ECONOMIC UNCERTAINTY

Research considered the impact of investing in team members before, during, and after times of considerable economic uncertainty. Those efforts included job-related selection activities (i.e. personality inventories, cognitive tests, interviews) and training. The researchers determined that the degree to which organizations made those investments in the quality of employees created a strategically valuable resource when the economic environment changed.

Firm-level data across 12 years from 359 firms was considered. Analyses indicated that investments in people influenced firm profit growth. Further, results revealed that firms who more effectively staffed and trained outperformed competitors pre- and post-recession, even after controlling for prior profitability.

Thus, selective staffing and training may be used strategically during economic uncertainty. That strategy will prime organizations for optimal growth and competitive advantage shortly after economic recovery.

I’m happy to provide a free 30-minute consultation to discuss strategy. Please reach out through my website: alliancepro.com

 

SOURCE: Kim, Y., & Ployhart, R. (2014). The Effects of Staffing and Training on Firm Productivity and Profit Growth Before, During, and After the Great Recession. Journal of Applied Psychology, 99(3), 361-3898.

 

1. EBIT scores based on Korean monetary unit (won)

Tags:  Competitive Advantage  Growth Strategy  Staffing  Strategy  Training 

Share |
PermalinkComments (0)
 

Gandhi says relax!

Posted By Carine Dieude, Biostress Imagery LLC, Tuesday, March 24, 2015

Gandhi says relax! He also said that "there is more to life than increasing its speed." In our modern days, it seems to be quite the opposite! We think the more, the faster, the better but is that so?

You can lure yourself into thinking you are doing more by multitasking, like talking to a prospect on your smart phone while texting with a client, and at the same, confirming an appointment on your tablet. Of course, you were not driving...

Truth is, you are actually wasting time! Your brain does not have the capacity to multitask. Multitasking is something that everyone does these days. You can think you are good at it. Sure, you are, with regards to habitual tasks that do not require brain power ,like walking and chewing gum. However, when you are trying to accomplish different tasks, some requiring a level of reflection and attention, multitasking falls apart. It is making you less efficient, not more. Your brain just can't process simultaneously separate streams of information and encode them into your short-term memory. Short-term memories can only store five to nine things at once.

Instead of juggling several tasks at once, work on your concentration skill. Learn relaxed focus to gain clarity and true efficiency. Throughout the day, take a step back and give your brain a break! Go for a brisk walk, a few stretches or simply some breathing exercise.

http://wp.me/p4sNMQ-OF

Author: Carine Dieudé, C.Ht., Biostress Imagery

 Attached Thumbnails:

Tags:  business  clarity  focus  strategy  success 

Share |
PermalinkComments (0)
 

Business plan: don’t wing it, be strategic!

Posted By Andre Wilson Sr., Altima Business Solutions, LLC, Tuesday, December 16, 2014

Whether you are a startup or an existing business, how do you establish what is supposed to happen without a business plan? Planning in your head is just a shortcut! If you are serious about business, designing an accurate map is critical to your success.

A business plan, in its simplest form, is a guide outlining your goals and the details of how you are going to reach these goals. It should contain sections such as Executive Summary, Strategy (S.W.O.T Analysis), Marketing Strategy, Forecast and Exit Strategy.

You can start simple and grow it organically. No matter what you use it for, business introduction, valuation, internal or external use, all business plans contain the following key elements:

  • Executive Summary: management experience
  • Strategy: direction of company including strengths, weaknesses, opportunities and threats (S.W.O.T.)
  • Marketing Strategy: how will you promote business
  • Forecast: how much capital needed and return on capital
  • Exit Strategy: how will you exit the business (sale, legacy, etc.)

Often left aside, your abilities as an entrepreneur are essential to a realistic planning so honestly assess your strengths and weaknesses. Like all forecasts, your pre-vision of the future will probably not be accurate. Nevertheless serious planning will give you a significant advantage over those who don’t.

December is National Write A Business Plan Month. And there is no better time than NOW to start.

For more relevant and congruent information, sign up for our email newsletter or contact us for any assistance or questions.

Author: Lisa Johnson, Director of Strategy, Altima Business Solutions LLC Chandler, AZ: 602-773-1488, Tucson, AZ: 520-762-7535

 Attached Thumbnails:

Tags:  business plan  strategy  success 

Share |
PermalinkComments (0)
 

New Year’s resolutions: good intentions gone bad!

Posted By Carine Dieude, Biostress Imagery LLC, Monday, December 1, 2014

From the Romans’ religious tradition to begin each year with promises to the god Janus, for whom the month of January is named, to today’s secular custom of New Year’s resolutions, the concept, regardless of creed, is to reflect upon self-improvement.

Despite such noble concept, their success rate is pitiful. One third of these resolutions don’t even make it past January. According to a study the University of Scranton conducted this year, 45% of Americans usually make New Year’s resolutions and only 8% are successful in achieving their resolutions.

You start out with the best of intentions but the worst of strategies! Here are 5 practical rules to pave your road to success:

            1. Spread your resolutions throughout the year.

Bad habits are hard to break—and they're impossible to break if you try to break them all at once! It makes no sense to try to quit smoking, lose weight, exercise, give up wine, and do something seemingly nicer for your next door neighbor all in the same month. Pick one at a time.

2. Opposing ideas cannot be held at the same time.

You always act according to what you imagine and believe about yourself and the world: behaviors must match beliefs. You have to make sure there is congruence between your talk and your walk. For example, if you want to quit smoking, is your belief “I am a non-smoker who happened to be temporarily challenged by the use of tobacco” or “I am a smoker who desperately try to quit”?

      3. You can’t think your way out of a bad habit.

To have made a formal resolution is certainly to be recognized as the first step toward change. Yet just thinking about it won’t do it. You have to take strategic actions. Be specific, realistic and positive about the new habit you want to build, spelling out all its components to formulate your plan with the what, when and where.

4. Play offense, not defense.

A study, led by Wilhelm Hofmann of the University of Chicago, showed that the people with the best self-control, paradoxically, are the ones who use their willpower less often. Instead of fending off one urge after another, these people set up their lives to minimize temptations, using proactively their willpower.

5. Practice, practice, practice and repeat.

As you repeat your routine daily, it will soon become a part of your conscious thinking but more importantly it will seep into the habit part of your mind, your subconscious mind, creating a new neurons-synapses connection. This new hard-wiring will increase your efficiency. As your actions become easier through constant repetition it may even become a pleasure to perform, transforming your past vicious cycle into a virtuous one.

 

Now, remind again, why do you have to wait for the New Year to invest in yourself?


Author: Carine Dieudé, C.Ht., Biostress Imagery LLC, www.biostressimagery.com

 Attached Thumbnails:

Tags:  change habits  new year's resolutions  strategy  success 

Share |
PermalinkComments (0)
 

What's Happening?

Newsletter

Join our newsletter to know what's new and upcoming at ASBA! 

LET'S CONNECT!

Join ASBA

ASBA

ASBA is the most powerful resource for your business in Arizona. We ensure the tools we offer are valuable and support the growth, education and connections necessary for today’s top business minds.

LEARN MORE

Partner Program

ASBA

ASBA’s Partner Program delivers your brand throughout Arizona. Share insights, connect with small business and highlight your company’s involvement with the association. Contact us to get started.

LEARN MORE

RSVP

Coffee Connect with ASBA

REGISTER

Date: Held monthly
Time: Click for times based on location

RSVP

ASBA Speed Networking

REGISTER

Date: Check our calendar 
Time: Click for times based on location

Have Questions on Health Insurance?

Health Insurance

We can get the answers you need. Contact us!

LEARN MORE

COVID-19

COVID-19

COVID-19 resources small businesses need to know!

LEARN MORE

Upcoming Events

Health+Plus

Join ASBA at any of our upcoming events!

REGISTER

Association Management Software Powered by YourMembership  ::  Legal