Tag: Business Management

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10 Hiring Paradigms to Consider in 2021

This year continues to be surprising even after all that we went through the past year. As a result, we had to shift the way we work, the way we think, the way we process information, and the way we pivot in business. Many of us had to go through a new process of hiring and managing people, dealing with stress, organizing events due to the semi-remote nature of work, finding different ways to communicate with one another, and so forth.  As a result, hiring in 2021 for most companies out there is a lot different as compared to what… Continue Reading
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8 Specific Tips to Work Around Business Meetings

Time is money. Time lost means money lost. Time wasted means money wasted.  One of the leading causes behind businesses losing and wasting a lot of time and money is the amount of time they spend in business meetings. Middle managers typically spend 35% of their time in meetings while those who belong to the upper management spend 50% of their time. Employees, in general, spend up to four hours every week just to prepare for status update meetings. According to Bain and Company, 15% of the collective time of an organization is spent in business meetings and this has… Continue Reading
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Is Business Process Outsourcing Growing in 2021?

Is business process outsourcing (BPO) growing in 2021?  I'm not going to fool you or mislead you. BPO is still going to grow and is still going to expand in 2021 for multiple reasons, even though remote working is now more popular than ever.  We are entering a new work ecosystem where companies are now starting or even getting used to having their employees station remotely. This work arrangement poses a risk of shutting down opportunities to certain types of businesses that normally operate with onsite teams. But regardless, remote companies still need to deal with certain operations and certain… Continue Reading
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32 Techniques for Stress Management

Excessive levels of stress—and the inability to deal with it—have been leading to major outbursts both personally and professionally, impacting the global economy. The Mental Health Foundation in the UK reports that 74% of people have felt so stressed out that they have been overwhelmed or unable to cope at all.  The American Psychological Association estimates that the $300 billion in losses every single year across the American economy can be attributed to stress factors. Stress management techniques have been explored in different depths, but access to information is limited—or at least, distributed sparingly. Schools and universities rarely focus on… Continue Reading
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How to Handle New Clients When Overbooked

Complaining about an influx of prospects may sound ridiculous to many. But in reality, growing businesses *can* attract new customers if they need to, considering they’ve been in business long enough to build a reputation or a portfolio, save some capital, and explore a couple of channels that get the job done. In this case, it’s more about investing a lot more into the channels that work, and restoring the long-term pipeline in exchange for a short financial hit. Additionally, ongoing leads are not uncommon—it’s the line up of truly qualified and suitable leads ready to adhere to a specific… Continue Reading
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10 Global Industries That Need Business Process Management the Most

To become and remain successful and rise above the competition, businesses must continuously improve and monitor their processes. Failure to do so may result in big financial losses, lower investment capital, reduced motivation in employees, and fewer satisfied customers.  This is why more and more companies worldwide are adopting business process management (BPM) applications in different flavors. BPM tools are designed to manage workflows in a consistent, repetitive model, providing an instrument for collaboration among all team members. According to the report led by Market Research Future, the BPM market is expected to grow to approximately USD $16 billion by… Continue Reading
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Why Your Business Needed A Business Process Management (BPM) Software Yesterday

If your company hasn’t grown to a fully-fledged corporation yet, you’re probably terrified (if not disgusted) from all the enterprise lingo - workflows, procedures, contingency plans, risk management (to name a few). But scaling an organization is impossible without the implementation of business process management (BPM) practices in-house.  NASA tanked $327.6M through its Mars Climate Orbiter mission crashing the satellite in 1999 due to a software localization error. Some international horror stories such as Chernobyl could have been prevented with the right contingency plans in place. Let alone the COVID-19 spread we’re all victims of nowadays.  Case in point, business… Continue Reading
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Critical Thinking Strategies for Business Leaders

Critical thinking is a powerful skill that's applicable in both daily life and running a business. However, managers and executives are in charge of large budgets and diverse teams. Irresponsible business decisions and ignoring risk management can harm a group of people and their families, in addition to other areas of business (partners and vendors). What Is Critical Thinking? Thinking critically defines the process of analyzing problems from scratch, relying on a combination of your background, the context of your organization, the distribution of your team, available resources, the global market, and any data you can tap into to reach… Continue Reading
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Employee Motivation Strategies For Managers And Executives

What determines “progress” in terms of employment? Progress is defined by focusing on a higher goal without having to constantly worry about day-to-day needs (food, water, shelter, clothing). Those are the basic survival needs. Until you are sure that those are taken care of, your mind constantly switches back to the urgent needs at hand which are the absolute minimums for survival. A business organization employs that same process, but on steroids. Considering that the paycheck covers the basic needs and then some, employees must feel safe, comfortable, and motivated at the workplace. However, the reality is that employees may… Continue Reading
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5 Key Components to Tick Off Your Checklist When Starting A Business

Starting a business is no uncharted territory – almost every inch of it has already been conquered. But not everyone was able to write a successful conquest; most of those who tried failed. For there is a universal truth behind the stories of those who were fortunate: success doesn’t come easy. There’s a ton of things businesspeople considered before they laid the first brick of their empire. But there are some things most people tend to overlook that can actually become cornerstones for success. What are the key components you must consider when starting a business? 1. Overcoming Fears and… Continue Reading