Survival in the evolving technological environment

Technology has changed the way people do business. With different platforms emerging every year, most entrepreneurs are now adapting to various media channels to promote and sell their products and services.

 

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Pointing out the extinction of dinosaurs as an example, Nitin Pangarkar, associate professor of strategy and policy at the National University of Singapore Business School, emphasizes the threat of “technological change” in the survival of companies that fail to adapt in today’s technological evolution.

According to Pangarkar, a company’s ability to integrate internal and external knowledge is crucial for survival. He adds that by achieving this, businesses will not only achieve integration, but will also be able to enhance their competitive position in the market.

In his article, Pangarkar exemplified Kodak’s failure to adapt to the digital photography revolution, and Nokia’s inability to adjust in the smartphone market.

 

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“With an appropriate strategy, companies can maintain, or sometimes even enhance, their competitive positions during technological revolutions. For every Kodak, which failed to adapt, there is a Canon, which successfully handled the challenges posed by such upheavals; and for every Nokia, there is a Fanuc,” he explains.

This said, it is indeed important for companies to stay proactive not only in following technological trends, but also in filling both internal and external knowledge gaps to survive the technological evolution.

 

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Steven Rindner is a results-oriented executive with a strong background in business development and growth strategy across a number of industries including media, technology, real estate services, and healthcare. Follow this Twitter account for the latest in the business world.

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Leadership road map: Turning employees into leaders

 

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Staying on top of the game is what company leaders do. However, they have to face the inevitable somewhere along the way. Whether they get a promotion, a resignation, or a transfer, respectable leaders always have an exit plan. Among these is to train people to fill in their roles when they leave. This is beneficial not only to exiting leaders but also for the betterment of the careers of those who are left behind.

Leaders have to prepare employees for leadership roles because even high-potential employees cannot do it on their own. The stage has to be set for them to assume a new position. A proven way to push people to higher performance is through leadership training programs that suit a company’s culture and environment. The use of varied training modalities is important to engage employees. Once is not enough; hence, there’s a need for take-away materials and follow-up instructions for continuity.

 

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Meanwhile, Forbes provides five ways to hone employees’ leadership skills. They are as follows:

1. Teaching them networking skills
2. Showing and giving them the right experience
3. Giving them room to find solutions to situations themselves
4. Doing the mentor-mentee progression
5. Instilling in them the value of an ‘ownership mentality’

Leaders’ mentality must be cognizant of the fact that telling people to lead is totally different from teaching them how to actually lead.

 

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Business executive Steven Rindner is known for his results-oriented leadership style. Know more about leadership strategies and other related topics by following this Google+ page.

Steven Rindner on Preparing for Your First Marathon

Running your first marathon can be an enormously satisfying experience – but when it comes to training you need to start out slowly and do it right! Here are a few tips to prepare yourself for the big day:

1. Especially if you’re not used to long-distance running, you need to visit your doctor before you start training. Marathons have a much higher risk of injury than other types of exercise.

2. Why do you want to run a marathon? The answer to this question will motivate and inspire you as you train, so keep it in the forefront of your mind.

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3. If you’re anxious to jump in and sign up for that race, that’s great. But you should be able to run a consistent base mileage for a year – and that’s just the prequel to a marathon training program. A good goal to shoot for is being able to run 20-30 miles a week regularly before you head into training.

4. Run some short races before jumping into a full marathon. This will help you to see what you’re up against. Even if you just go to a marathon and watch, it will help you get an idea of what running a race entails.

5. Plan your training. Most training plans will range from 12 to 20 weeks, and you’ll spend the time building your endurance. You should start out slowly, running three to five times a week, and increasing your mileage weekly. However, this week-to-week increase should never be more than 10%.

6. Don’t forget to incorporate some rest into your plan, as well! This means a few days of the week where you don’t run at all. This will let your muscles recover from the days you do run, which will help to prevent injury.

To ensure a successful marathon, make sure you plan ahead!

For more tips on running a marathon, check out Steven Rindner‘s website.

Inside the business: Picking the right media channel

Media has always been an essential part of business. Whether traditional or digital, various communication channels give business executives and companies the opportunity to grow with their consumers. These channels also allow them to connect and communicate their messages during both campaigns and crises.

But how can one know the right media channel?

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According to the book, “Organizational behaviour: Emerging knowledge, Global Reality,” by Steven L. McShane and Mary Ann Von Glinow, choosing the best communication channel depends on social acceptance and media richness.

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Social acceptance refers to how well the communication medium is approved and supported by the consumers. A good example of this is the use of top social media technologies such as Facebook and Twitter to enhance engagement with an organization, teams, and individuals. Some of the world’s most recognized brands such as Coke and Starbucks have taken advantage of social networking sites to create a conversation with their consumers.

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Media richness, on the other hand, is the medium’s data-carrying capacity. This includes the volume and variety of information being transmitted to the consumer at a specific time. One has to assess how effective a vehicle the medium is for what the brand wants to convey. It should cover verbal and non-verbal communication.
Steven Rindner is a business and corporate development executive with experience in media, technology, real estate services, and healthcare businesses. Find strategic similarities among these industries by visiting this Twitter page.