Showing posts from November, 2014

Did China Waste 6.8 Trillion Dollars In Mismanagement and Corruption?

According to a report by China's National Development and Reform Commission and the Academy of Macroeconomic Research the country wasted nearly $6.8 trillion dollars in investment money (as cited in Business Insider ).   Half of the investment money between 2009 and 2013 was wasted in ineffective construction projects that were supposed to improve the nation’s infrastructure to spur growth.   A sign of major corruption or just mismanagement? Low interest rates can spur all types of investments and these are beneficial for national growth. There is always a cost with such stimulus if infrastructure investments in the provinces don't actually lead to growth or simply don't have a return on their investment. Local government makes decisions on where and how to spend resources but continued poor investments can damage growth.  As with any large project it is possible that money is not spent in the most effective places to obtain a significant return on investment.

Why We Should Support Small Business Saturday

Small Business Saturday came and went just after the Black Friday Holiday shopping spree. Small business Saturday is that one day where shoppers come out in droves to support their local businesses. For good reason small business is seen as the backbone of the American economy with higher growth rates and potential than many large corporations offer.  According to the Small Business Administration small business has contributed to 64% of new jobs and 44% of private payrolls. Small business is a significant contributor to the American economy and supporting small business has a long lasting impact on the overall economy. Small Business Saturday is designed to remind us of that importance and support small business through our purchases. America itself was started and developed from family owned small businesses. It is this entrepreneurial spirit that has helped a great many native and immigrant Americans moving up the social ladder. Even in today’s world small business stil

The Difference Between Coaching and Counseling Employees

Managers are part administrators and part cheerleaders. Without strong employees the manager is unlikely going to make much of a dent in the performance of his or her department. The very nature of management requires the coaching and counseling of employees.  Coaching and counseling seems the same but are very different in how they function. Coaching is the act of giving advice in much the same way as counseling except with a difference; coaching is more specific. It requires a focus on something narrow and teaches how to improve that function. Coaching uses a person with higher levels of skill to show the employee how to improve their performance. The coach may provide direction, training, or advice to improve performance. The employee gains more skill and the department functions better with the use of that new skill. Counseling is a different kind of interaction with employees. Someone who is engaged in counseling helps employees work through options but doesn't ne

Improving Customer Care Quality Through Efficiency

Service efficiency and service quality have often been considered two different dimensions that don’t work well together. As service quality improves the efficiency of service moves downward. Likewise, as service quality moves down efficiency can move upwards. Conventional wisdom may not be accurate. A study by Talluri, Kim and Schoeherr (2013) used both transactional and survey data to show how service quality and efficiency can work together. What they did find was that service efficiency should be improved through the development of higher levels of technology before moving into service demand quality. Without efficiency in place quality becomes more expensive. Focusing on efficiency and then on quality appears to push growth higher.   Efficiency allows for the use of less resources to service customer’s needs. As core service functions are defined the processes and procedures streamline to cut out any waste. There may not be a lot of options in the types of services of