New Financial Statements

The new look of financial statements – welcome to the future of accounting In the not too distant future, assets may not equal liabilities, up may become down, black will be white, and night becomes day… Or so it might seem. Get ready – the accounting world as we know it may be turned upside…

The Value of Older Consumers

Tipping sacred cows for fun and profit. The value of older consumers. It’s official. If you’re older than 46, MOST advertisers are ignoring you. Why? Because conventional wisdom says you are an old bat? Probably. Conventional wisdom (and the ever-wise media) says older consumers wear black socks with Bermuda shorts, hate change, and can’t use…

Do Nothing?

In the absence of information, do nothing? When information is plentiful, a conscious and deliberate decision to do nothing can be strategic. But what do you do when the future is uncertain and information is scarce? Lack of clarity is the “new normal.” Current market conditions have driven many companies to trade the uncertainty of…

Complexity is…well…Complicated

Complexity is….well….complicated The Invisible Gorilla psychology experiment (http://www.theinvisiblegorilla.com/gorilla_experiment.html) is interesting because it demonstrates the many ways our brains and our intuitions can deceive us… especially in complex situations. Even more interesting is the fact that approximately half the people watching this video don’t notice the gorilla. In business, this kind of complexity brings an illusion…

What Motivates Us

What Motivates Us The 4 P’s of marketing tell us that customers are motivated to purchase through Price, Product, Promotion, and Placement. What about the fifth “P”? People. Your people are a core marketing asset. They produce and deliver the product and service that ultimately motivates the customer. But what motivates your people to perform?…

Flight Simulators for Business

On February 12, 2009, a pilot flying near Buffalo, NY, pulled his plane into a steep climb, stalled and slammed into a private residence, killing the homeowner and all 49 passengers. Because there is no Federal requirement to use simulators that accurately represent how out of control planes behave, pilots receive little or no hands-on…

Toyota and Managing a Crisis

We recently read a great analysis of Toyota’s recall crisis in The Detroit Free Press. The article describes how growing pains caused by rapid expansion, strained engineering resources, and a centralized corporate structure put stress on Toyota’s admired corporate discipline – and created the the company’s first serious recall in more than 50 years of…

4-Actions to Survive and Emerge Triumphant

Here is an outstanding blog entry we wish we had written! The article was published on HBR’s weblog and was written by Rosabeth Moss Kanter, a professor at Harvard Business School and the author of Confidence and SuperCorp. The author outlines four specific actions that companies can take to not only survive the recession, but…

Ask the Dumb Questions | March 2010

An article titled Ask the Dumb Questions in USA Today caught our eye. It was so relevant to new business decision-makers that we’ve made it a pre-read for all our PriSim courses. It takes courage to admit that you just don’t understand the whys and wherefores of the current U.S. financial crisis – especially when…