Business

Outsourcing: The good, the bad, and the ugly

The competition experienced in the global market has tuned up brands to do everything possible to come up with products and services of sterling qualities. To this end, a lot of brands resort to outsourcing in order to fill up gaps that will enhance their competitive advantage. Outsourcing is all about brands hiring sources from outside the company to perform services or create products which ordinarily should have been done in-house by employees and staff of the company. Outsourcing was first recognized as a business strategy in 1989 and became an integral part of business economics throughout the 1990s. In the business world, outsourcing is subject to considerable controversy. A group, especially in the manufacturing sector argues that it has caused the loss of domestic jobs. Supporters say it creates an incentive for businesses and companies to allocate resources where they are most effective, and that outsourcing helps maintain the nature of free market economies on a global scale. The good There are a whole lot of reasons why you may decide to embark on outsourcing some certain tasks in your company. It can help you to reduce labor costs significantly by avoiding expenses associated with overhead. You also have…

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Business

Why You Need The New Face of Retail

A few years back, the determinants in retail success have basically been location, store design, and curb appeal, with most of them completely relegating to the background any insight to the changing customer behavior. The retail apocalypse has, however, necessitated the new face of retail. According to the Statista, The fact that the ongoing rise of e-commerce in the United States is hurting brick-and-mortar stores is undisputed. Two corporations that filed for Chapter 11 bankruptcy protection in October 2018, are retail giant Sears and Mattress Firm. Despite reducing assets and selling real estate over the years, Sears was unable to pay off $134M worth of debt. Sears Holdings, the parent company of Sears and Kmart, said it plans to keep profitable stores running. By the end of 2018, the company is looking to shutter at least 188 stores. The latest list of store closures includes 45 Kmart locations and 18 Sears boxes. Mattress Firm, on the other hand, said it would shutter 200 underperforming locations right away, and look to potentially close 700 stores altogether over the next few months. In conjunction with its prepackaged restructuring plan, it received commitments for about $250M to help support ongoing operations during the…

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Business

How The Lean Approach Will Enhance Your ROI

Lean may apply to you as not a solid and firm capable organization but a thin, grim one that will crumble when pressure is applied. Businesses could harbor this fear since a lot of half-baked and ill-planned applications of Lean have failed.

Business

Rebranding For a Better Marketing 2019

Rebranding can be a very good cause, especially when its aim is to tone up some grey areas in the business. Especially as brands can go off-message, or find their message no longer resonates with their target audiences.

Business

Why Your Small Brand Needs Commitment to Purpose

Your brand’s purpose should set out how your company intends to change the world for the better. In a branding sense, the purpose has become like a sort of “utopia.” Everybody wants to be purposeful, but the majority of people don’t know why and how.

Business

How to Transform Your Business With Customer Experience

Customer experience (CX), is the sum total of interactions to transform your business which can include awareness, discovery, cultivation, advocacy, purchases, and sales between a corporation and a customer over the duration of their relationship. Customer experience is an integral part of Customer Relationship Management(CRM).