Press release from the Open University The Responsible Financial Management webinar from The Open University Business School (OUBS) took place Wednesday 12 March. The webinar introduced video highlights from the Business Perspectives Thought Leaders Roundtable discussion that took place in London on Thursday 20 February 2014. You can listen to what speakers had to say […]
How to Maximise Goodwill when losing a client – Risk Management
Some business relationships that start with a bang end not only with a whimper, but can also sometimes prove to be both harmful and expensive. Here we look at Risk Management strategies on how to preserve goodwill when the relationship has come to an end. Reasons The reasons for customer/supplier relationships coming to an end […]
How to improve Client Retention with Value Added services
There are two ways you can Add Value to improve your Client Retention First off there are the traditional direct methods: 1 Direct Value Add There are a whole range of areas where a supplier of products or services can add value to client relationships. There is of course the issue of striking the right […]
How to maximise the Lifetime Value of customers
The Lifetime Value of a client or customer How do you Measure it and Why is it important? 1. How do I work it out? The traditional method as defined in Wikipedia: Customer lifetime value (CLV): The present value of the future cash flows attributed to the customer during his/her entire relationship with the company. […]
Client retention – How can we be better at it?
Customer retention versus Customer acquisition It is argued that it costs on average 8 times more to acquire a new client than it does to retain an existing one. Indeed, a recent article by The Chartered Institute of Marketing suggests that it can cost up to 30 times more! Customer care is something we hear […]
Risk management post financial crisis – Business Finance Solutions
Risk Management – Is it better now? I have recently taken part in a roundtable discussion on Responsible Financial Management organised and facilitated by the Open University Business School drawing together experienced people from both the world of business and academia. In particular the discussion focussed on what has changed since the onset of the […]
6 steps for Solving Business Problems – Creatively
Creative Problem Solving When I first learnt about Creative Problem Solving (CPS) techniques, I thought it was all a bit crazy and could never work in the real world. I WAS VERY WRONG. THEY WORK – I would urge everybody to give it a try Over the last 10 years, when dealing with business problems, […]
9 Ways to develop a Creative Climate and improve Employee Engagement
Definition ‘A creative climate is a safe nurturing environment for people to work in and one that encourages innovation and creativity.’ Why a Creative Climate? In today’s world, with globalisation, the advances of IT and ever more government intervention, everything is moving so fast that companies cannot afford to stand still. Increasing competition means that […]
How Empowering your people gives better employee engagement
Employee Empowerment has become an increasingly popular way of working for many organisations in direct contrast to the control and command strategies of the past. Jan Carlzon, the ex CEO of SAS, famously said: ‘That to free an employee from traditional business controls, was to unleash a whole range of resources previously unknown to the […]
Experienced Sales Directors for better Business Management Solutions
Should you Hire experienced Sales People or Ambitious Rookies? A good sales strategy is key to any successful business but hiring experienced sales people in your sector is not always the best option. Sometimes hiring the inexperienced yet ambitious can be a solution to dwindling sales. To illustrate this point, I met up with a […]