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Showing posts from February, 2024

Innovative Management Approaches - Change Management

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  Do you see plenty of unfinished initiatives around at workplace? That’s because starting something new is easy, while making it stick is not. With these 6 steps, you can radically increase your success rate. A nagging problem that many organizations face is that they start a lot of new initiatives, but complete and really adopt only a few of them. While some initiatives do see the luminating success, the rest gets stuck somewhere along the process, clogging up, eating resources and blocking new initiatives. To break through this resource-consuming and frustrating cycle, the following six steps will help. 1. Re-evaluate your goals Set or revive your strategic priorities and define what you wish to achieve with the initiative and why you want to start it in the first place. 2. Don’t manage it all yourself Share responsibilities with others to get them on board from day 1 and share the workload. Clarify and manage who is responsible for what. 3. Build the hype Create a c...

Consumer Mindset – Habit, Loyalty or Dopamine!

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Consumer habits can influence a product’s enduring success. Let us understand how people develop them and the ways in which popular products pull consumers to keep coming back. Understanding Habit, Loyalty & Addiction In the product context, it’s easy to distort the variance between the three traits that can inspire a consumer to stick to the product and keep picking it over the  alternatives .   But let’s first deal with the big question: When is consumer behavior a “habit”, “loyalty” or “addiction”? What a habit is By  habit  we refer to an action that a person performs unconsciously (or semi-consciously) on a frequent and ongoing basis. Whenever that person can’t perform the action for whatever reason, they feel discomfort.   Examples of daily habits might include: ·          Taking the same route to work every day. ·          Putting keys in a particular poc...