Part 3/3: Improving staff motivation leads to a more productive workforce, and yet most business leaders are going about it the completely wrong way. Part 3 of this series looks at how providing a workplace culture of autonomy, mastery and purpose supercharges staff motivation leading to increased productivity and retention.
We know most management and incentive structures are demotivating to staff, now we explore key habits to stop and new practices to start to supercharge staff motivation and productivity in your workplace.
Improving staff motivation leads to a more productive workforce, and yet most business leaders are going about it the completely wrong way. In fact, most management structures and staff reward programs are having the opposite effect of demotivating staff!
As we come to the end of another year, like us you are probably wondering where the time went. Whilst the world may appear more uncertain as we continue to be bombarded by bad news, we thought you might enjoy some much needed positive news.
Here, Phil Ruthven, the founder of IBIS World expounds the virtues of data, outlining an evidence-based perspective debunking myths on various topics such as crime, inequality, the ageing population and marriage.
We hope you enjoy this short article as much as we did - 5 minutes well spent.
Larger, more traditional businesses offer the potential for significant capital, distribution and scale to smaller, more agile businesses who bring smarts and IP.
As seen this month with Wal-Mart’s record-setting $US3.3b acquisition of the year-old e-commerce retailer Jet.com, large players are not put off by the infancy of a business and are paying for opportunity, expertise and innovation.
I was struck by Philip Baker's article in the Financial Review last week entitled 'When a High PE is really a low PE' touching on the mistakes people make valuing businesses.
Here I further explore the way acquirers value a private business and how you can ensure you create your own market when selling your business.
I think the notion of ‘Preparing your business for sale or Exit’ is a complete oxymoron. When I hear professionals spout on about this increasingly fashionable topic fuelled by the impending retirement of the baby boomers I often wince and want to run in the other direction denying I ever worked in M&A. Why?
Go to any business broker or M&A Firm to sell your business and the first thing they’ll probably do is start preparing a detailed Information Memorandum (IM).
Wind forward a few weeks or months and most business owners work out that this was a very bad idea.
So why is producing an Information Memorandum the completely wrong approach to selling your business?