Why We Share and Collaborate for Business Profit

As a human species we have learned that it is beneficial to share ideas and resources in order to get more of what we need out of life. Our survival rate increased and our lifestyle increased compared to our ancestors and this may be due in part to collaboration. Business also can improve their health through sharing and collaborating. Hedging resources can be a good thing when both companies can succeed together.

If collaboration is in our blood as a species why don't all businesses collaborate? In many cases this occurs because these businesses compete with each other. Sharing information and resources can lead to advantages that may help one business over another.

The other option is to collaborate on businesses that are not in the same markets. For example, a technology company and auto supplier can provide updated smart products that are more efficient than what is currently on the market. They are not natural competitors and can gain more then they lose.

Two businesses working together typically is on beta test through the use of a collaborative team with supportive resources. The team focuses on specific projects and works to achieve some objective such as a new product line or solution to a long-standing problem. If the project is successful they can work on more complex tasks.

To be innovative companies should explore the possibilities of hedging current competencies and resources in order to develop new products and services. Collaboration can lead to a win-win outcome for both businesses if a trusting relationships arises. Industry knowledge is an additive process and the more we put into it the more it returns.

Federal Reserve Chairman Janet Yellen States Higher Education is Needed in Global Economy

Federal Reserve Chairman Janet Yellen states that higher education will increasingly be important in a global economy. As the world changes and the borders become more permeable and new skills will be needed to maintain a reasonable lifestyle. The changes are coming and education offers the hope of personal development that meets these global needs.

The world is complex and will continue to change quickly. Human beings must continue to adapt and adjust to those changes or they will slowly decline in financial healthy. Higher education helps people be more adaptable to coming technology changes.

Technology will continue to put pressure on worker skills. “While globalization will likely continue and technology will continue to advance, we don’t know how fast the economy will grow, what new technologies will be developed, or how quickly and consistently employment will expand," she told graduating students at the University of Baltimore. 

As workers we sometimes become lethargic in our learning process. We rely on our employers to keep us up-to-date on necessary skills. While this may be adequate in terms of our ability to maintain employment with that employer it is not wise to wait for companies to tell us to update our skills because their actions are focused on their current needs. 

To stay ahead of changes means updating our skills. It doesn't necessarily need to be higher education but it does need to be a constant engagement with personal development, training and other learning. To be effective one must learn to be a life-long learner that can accumulate and integrate new knowledge. Higher education provides a conduit for personal development for many people. 

Holding Students Accountable for Learning

Student learning is one of the essential requirements of obtaining a degree. That learning starts with the personal standards the professor maintains. This requires day-in and day-out dedication to the needs of students and holding the line even when students grumble. At the end of the day the university wins and the students win.

One thing professors dislike hearing is, "no other professor graded me down for this". Sometimes it may be true while at other times it may not be true. However, the total learning experience is the different grading requirements by different professors.

It is the total educational experience that counts.

Students who deal with different expectations also learn to be adaptable and adjust their learning process to the expectations of the professor. If the professor gives an easy A the students learn to do less work and expect more.

Professors who maintain their standards do the students, the university and other professors a favor. The students learn more by putting forward more effort, the quality of the university rises as the educational standard rises, and other professors obtain the benefit of a more competent student who have high expectations of their own work.

Wetlands as a Place for Birds to Habitate

Birds flock toward habitats that offer lots of cover, food, water, and nesting areas. Birds also love to socialize so they desire having many places to sit near each other engage in their communal activities. Even in the cold of winter some of these birds hang around for the season when they can find what they need for survival.

Wetlands offer adequate cover to protect them from the natural elements and predators. A source of water is also vitally important. During the hunting season wetlands offer excellent bird hunting areas. Because wetlands are rich with wildlife it is important to ensure they are not protected areas.

Black-Capped Chickadee

Matching Customer Needs and Improving Sales

Customers are needy creatures that are willing to pay for those needs if the right items or services are available. When companies have better focus on meeting those needs they are able to increase sales and improve marketing performance. At the end of the day, performance is about discovering needs, fulfilling those needs and converting those needs into sales.

One of the first things to assessing customer needs is understanding your core customer demographics. Once you have a grasp of your customer's spending habits, income, location, and interests you can find those products generate significant market appeal.

Beyond finding marketing driven products you will need to poll and question your customers to determine which specific features, brands, services and products appeal to them the most. Obtaining your general customer demographics and specific needs will help you develop offerings that serve those needs.

Finding your customer needs is one thing but getting them to make a purchase is another. This will require tapping into their motivational interests. In many cases this is based in their self-esteem needs while in other cases it is more related to to their specific utility.

The marketing campaigns you create should tap those interests and provide specific information on how to make a purchase. Making this process as easy as possible lowers the annoyance factor associated with buying. Conversion is related to the ability of making purchases easy as possible.