Business customers are motivated by a variety of forces, many of which may be surprising. A new way of evaluating the dimensions of what a business customer values has been proposed, inspired by psychologist Abraham Maslow’s hierarchy of needs. The research was conducted by Eric Almquist, Jamie Cleghorn and Lori Sherer from Bain & Company,…
For a long time, it was thought that open floor plans were the best way to encourage collaboration and creativity in the workplace. However, recent studies have shown that this may not be the case. In fact, many companies are finding that open floor plans are actually detrimental to productivity. One such company is IBM.…
In any organization, it is important to have standards that workers can strive to meet. Some people may argue that workers should set their own standards, but this can be difficult in practice. It is often hard for an individual to be impartial about their own work. Standards provide a common goal for everyone in…
A recent study found that high-performing employees have a positive impact on those around them, boosting productivity by 15%. This spillover effect can result in an increase in profits of up to $1 million per year. As a business owner, it’s important to be aware of the impact that your employees have on one another…
Bain & Company’s research on what consumers value shows how people benefit in multiple ways from digital technology. It reduces cost, saves time, integrates sources of information, connects, organizes, informs and provides access to previously hard-to-find data and expertise — all “elements of value” that have direct application to both consumer and B2B purchasing and…
We’ve all been there; we’ve missed a deadline at work and felt the sense of failure that comes along with it. But what if I told you that being busy could actually increase your motivation to complete tasks? This may seem counterintuitive, but recent research has shown that people who are busy tend to be…
In today’s business climate, data is king. Companies are increasingly relying on data to make decisions about everything from product development to marketing campaigns. And for good reason – data provides a level of objectivity that opinions simply can’t match. After all, as the saying goes, “without data, you’re just another person with an opinion.”…
Anyone who has ever run a business knows that time is money. And yet, so many businesses allow their employees to waste time on tasks that could easily be automated or delegated to someone else. In this blog post, we’ll explore the concept of time waste and how it differs from material waste. We’ll also…
In any business, there is always room for improvement. But what should be the focus of those improvements? According to Shigeo Shingo, there are four purposes of improvement, and they should be prioritized in the following order: easier, better, faster, and cheaper. Let’s take a closer look at each of these priorities. There are four…
Have you found some of your employees struggle to get more work done? You might want to try some of these techniques. But much of it comes down to matters of perspective. See your role as an enabler rather than a task master. Then you can likely see the results you’re after. 1. Try to…
