Family business is big business. They make up 64% of the U.S. GDP and about 2 out of every 3 jobs in the U.S., according to a study by Joseph H. Astrachan and Melissa C. Shanker. Family businesses are a large part of the U.S. economy, yet their advantages and management challenges can be quite different from public companies.
Month: June 2012
“Invest in your employees’ success, they will invest in yours.” Check out these six strategies that Dr. Noelle Nelson suggests for a more cheerful and consequently more productive workplace. Among these strategies she lists frequent and specific feedback as an important tool for employees to both celebrate their successes and progress as individuals. Join Aluminum Company of America, Starbucks, and […]
The approach known as “short-termism” is known to affect the stocks but recent studies have also shown that short-termism directly affects the prosperity of a business. A Booz & Co. brought attention to a recent Harvard Business School study which revealed that businesses often encourage managers to set current goals that will not produce benefits in the future. […]
A plan to reduce car accidents by 80 percent is well on its way to success. Connected Vehicle Technology, a partnered project of the University of Michigan and the U.S. Department of Transportation, is a perfect example of SMART strategy. This is a system that employs wireless technology to create a web of communication between your […]