When a company is bought, sold, merged or reorganized, unexpected employee benefits issues may surface that can significantly affect the structure of the deal, liabilities and future benefit plan design for the surviving entity and its employees. Those buying, selling or merging businesses should consider the following situations in the early stages of exploring potential … [More]
Buying or Selling a Business? Look Out for Employee Benefits Issues!
There could be unexpected impacts on liabilities and more
Using Famous Artwork: Perils in the Public Domain
A dangerous path awaits Arizona businesses looking to profit from famous art now in the public domain
Earlier this year, Steamboat Willie, the original version of Mickey Mouse from 1928, officially lost its copyright protection held by Disney and moved into the “public domain.” Only one day later, Variety reported that Steven LaMorte is set to direct an untitled horror-comedy about “a sadistic mouse” that “torment[s] a group of unsuspecting ferry passengers.” Likewise, the 1926 … [More]
The Power of Feedback and Communication in Fostering a High-Performing Culture
A strong combination to avoid misinterpretations that lead to mistakes
Effective communication is the No. 1 ingredient to build and sustain an effective workplace culture. However, according to our recent survey, just 26% of knowledge workers strongly agree their leaders are good at it. So, what does it take for leaders to be successful at effective communication? It starts with recognizing that communication is about much more than just … [More]
It’s an Election Year for the Arizona Corporation Commission
Here’s why Arizona business owners and residents should care
This November, Arizona voters will have the opportunity to elect three of the five seats on the Arizona Corporation Commission — thereby determining the majority of officials controlling this powerful regulatory body. For those wondering, “What is the Commission?” and “Why should I care?” read on. What Is the Arizona Corporation Commission? The Commission is unique. First, … [More]
Moving from Feedback to ‘Feedforward’
How managers and companies can push employees to their best
We’re all familiar with the term and concept of feedback. Now, we are beginning to hear a new term applied to performance reviews: feedforward. From what I’ve read, this new term stems from younger employees challenging the status quo regarding feedback practices at their companies. This, in itself, is a good thing! Any business or organizational practice that has been around … [More]
Best Practices for Activating Brand Purpose
A business’s decisions must be founded on a crystal-clear sense of its values
Companies that put purpose first are invariably becoming industry standouts—manifest in their exemplary corporate cultures, publicly recognized competence, or as heralded champions of vital causes. Numerous benefits accrue to these purpose-driven companies, including a proven positive correlation between purpose and profit, outperforming the overall market, an ability to … [More]
Conquering the Karen Conundrum
5 steps to turning the tide on tough customers
She wanted to return a cake that was almost gone. How bad could it have been? Normally, if something is spoiled or not up to standards, it's returned almost intact. This thing was a pile of crumbs. But it gets better: She demanded cash, yelled at me and started causing a scene. I hope she never comes back. He brought his car in for a repair and demanded that we detail it at … [More]
Negative News Packs a Punch
Businesses grapple with misinformation crisis
Misinformation in the digital age has become a rising concern for brands worldwide, indicating a need to get ahead of the curve. The rise of social media has made false information more accessible and dangerously potent. This is harmful to businesses, regardless of size, and it's up to each to stand against it. The Dangers of Misinformation in Business Strategies Some … [More]
Acquisition as Strategy for Growth
Evaluating potential buyers as well as add-on opportunities
There are many strategies business owners may choose to grow their company. Growth via acquisition is one such strategy that can result in accelerated growth if executed properly. Whether a business is considering this strategy for itself or has been approached by a larger company looking to acquire the company as an add-on (also known as a bolt-on acquisition), the process may … [More]
Retail Quandary: Returns
And how to make this problem easier to solve
Retail growth has been on a roaring upswing since the dawn of e-commerce. The effect of which, as retail inventory experts know, is that each year e-commerce grows, the returns problem grows as well. We saw the best example of this throughout the pandemic, as people were locked down at home; e-commerce marketplaces saw a boom in business as people turned away from … [More]
10 Ways to Strengthen Your Next Loan Application
Demystifying decision-making — and 10 ‘red flags’ to avoid
What business owner hasn’t dreamed about what could be done for the business with more capital. Buy new equipment? Hire more staff? Expand into a new market? When it’s time to explore putting dreams into motion, seeking financing is often the next step. Banks typically have well-documented criteria business owners must meet to qualify for a business loan. But what they may … [More]
The Burnout Battle: Why Leaders Must Lead the Charge
Close the burnout gap to improve well-being and productivity
Burnout is impacting every industry, company and role. There are no exceptions. Leaders often find themselves in the trenches, navigating through the chaos and driving their teams toward success. However, amidst the pursuit of goals and objectives, there's a lurking enemy that can undermine all efforts: burnout. In the burnout battle, we often find the great … [More]
The Future of Rebranding: Top 2024 Trends That Will Drive Business Success
Since the pandemic hit, businesses have been shifting gears, lanes and categories all in an effort to stay relevant. The result is a tsunami of rebranding that’s been shifting the landscape we all traverse every day for business and personal purchases. But there’s a problem. Some treat rebranding like slapping on a fresh coat of paint and calling it a day. Here’s what you … [More]
Let’s Make Layoffs Rare Again
The Long-Term Costs of Mass Job Cuts … and How to Avoid Them
The layoff news just keeps on coming. Many of the job cuts being reported are in the tech sector, but the hatchet is also hitting industries from air travel to healthcare to music. Nobody loves mass layoffs, but their increasing frequency seems to imply an alarming level of acceptability. This is a symptom of a bigger problem — the tendency of today’s corporate leaders to make … [More]
Implementing Vacation Time Enhances Business Operations
Restaurant owner gives evidence that the proof is in the pudding
One crucial element of running a restaurant is valuing our employees’ work-life balance. At Dolce Vita, I have made the decision to close every Monday and for a week each summer to give my staff a day of rest as well as a true vacation. Many business owners may be concerned about how this will impact their bottom line, but, by fostering a healthy work environment, they will see … [More]
Thriving in the Fast Lane: Essential Healthy Habits for Young Professionals to Beat Hustle Culture
And a healthy reminder for professionals at any stage of their career
The hustle-and-grind culture is widespread, especially in the United States, and while one needs to work to get ahead, a constant go-go-go schedule isn’t healthy for anyone. In the long run, no matter how good someone is at what they do, the exhaustion from constantly living in the fast lane will eventually slow them down. This is why young professionals can hugely impact the … [More]
Is Your Company Headed for the Commodity Death Spiral?
Turn it around with a strategy of market-facing innovation
Once upon a time in a company’s evolution, its founder would be laser-focused on delivering superior, differentiated value to customers. Those customers would have specific needs, and the company sets out to fulfill them better than anyone else. But as the years pass and the business grows, that intense focus, well … drifts. Leaders get caught up in other priorities — say, … [More]
Why ‘Influence’ Is the 2023 Word of the Year for the Business Sector
Influence is what allows us to find the opportunity hidden in the uncertainty
As 2023 drew to a close, everyone was releasing their word of the year. The Associated Press chose “AI.” Oxford chose “rizz” (short for “charisma”). Merriam-Webster chose “authentic.” Now, I’ve put my own twist on the annual tradition: I’ve zeroed in on a word that captures the zeitgeist of today’s business world — and not just for 2023, but for the foreseeable … [More]
