Market Watch

True teamwork begins to take shape with a recognizable culture of collaboration within your … [+] Getty Images While there are many factors that can play a role in creating the ideal office culture, few things can prove more important than building a culture of collaboration. In fact, research from Stanford reveals that working in a collaborative setting makes employees 50% more effective at task completion, while also boosting their engagement and motivation. It may sound cliche, but it’s true: your team is the lifeblood of your business. No matter what your industry, building a healthy office culture driven by collaboration is key to driving outcomes for your company. Positive work cultures have been found to boost productivity, engagement, retention and other vital statistics. Building a collaborative culture within your business is well worth the effort — and with the right practices, you can quickly strengthen this aspect of your work. 1. Establish a Foundation of Trust and Communication As a leader, you set the tone for how collaboration can be carried out within your organization. Similar to establishing strong partnerships with other businesses, an internal collaborative culture needs a solid foundation of consistent communication and transparency. This doesn’t […]

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A Washington County working space and small business accelerator event will be at the Mills Seed Co. Building on the 22nd. This “Idea Mill” event is geared toward individuals currently operating recently formed startup businesses or are thinking about doing so. The reason behind the event is to bring like-minded people together to share ideas and to help develop businesses in the Washington area. Discussion will be had on what it takes to begin a company and the challenges that go with that process. This event will run from 2-3 PM. You can find a link to the event with this news story at KCIIradio.com.

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While Triad business leaders are bullish about the Triad economy , their top challenges for 2023 are very much in line with concerns cited by their counterparts statewide in a Business Journals statewide economic outlook survey. The rising cost of business, with inflation a major part of the equation, tied with the U.S. economy as the top concern cited by respondents across the state in the survey. That finding is echoed by 12 Triad business leaders ( see below ) that TBJ’s news team approached at Thursday’s N.C. Economic Outlook event at High Point University. Labor and access to capital were among other top concerns local leaders to the highlighted, again mimicking survey that was conducted statewide. In the Business Journals survey a year earlier, the U.S. economy was the No. 1 concern, with rising costs second. The global economy has been the third-greatest concern both years. Access to capital, business loans and credit was the concern that jumped the most as somewhat or very concerning among respondents, cited by 41% compared with 32% a year earlier. A closer look reveals a slight difference by metro area in which concerns ranked highest, with rising costs the greatest concern cited […]

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Corporations can advance stakeholder metrics by joining the Global Alliance for Social Entrepreneurship. Crowdsource Innovation By partnering with social entrepreneurs, corporations can deliver measurable progress to help protect and regenerate environmental ecosystems, develop and invest in communities, promote value chain resilience and advance strategic business objectives. Social enterprises already partner with business but there is much room for broadening the scope within value chains. The Global Alliance for Social Entrepreneurship and its 100 plus members are surfacing partnership opportunities between social entrepreneurs and corporations and building the business case for collaboration. Today, there are many examples of social enterprises, cooperatives and innovative, entrepreneurial non-profits that have long created social and environmental value and provided pioneering examples of purpose-driven ways of organizing economic activity. As such, they are already improving the lives of hundreds of millions of people and changing whole industries . Partnering with these potent change actors could allow businesses to trial new approaches that help them navigate the challenges of the year(s) ahead while simultaneously achieving business objectives. And as businesses find themselves operating in a challenging economic environment, they should prioritize such engagements with urgency to help build resilience for future market disruptions. From rising inflation, […]

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For business leaders, the current ‘polycrisis’ means continually confronting new and different challenges. The Big Picture Crowdsource Innovation The world is experiencing prolonged economic, social and geopolitical turbulence. Business leaders have no choice but to learn how to operate effectively within today’s unpredictable environment. To face an uncertain world head-on, businesses must think big and develop growth strategies that are purpose-driven and focused on long-term value creation, not just short-term profits. In the past three years, the global economy has been reshaped by a string of shocks from the COVID-19 pandemic to soaring inflation and the outbreak of war in Ukraine. The pace of climate change also continues to accelerate, unleashing extreme weather events that claim lives and inflict heavy economic damage. Have you read? The world is experiencing prolonged economic, social and geopolitical turbulence, driving uncertainty and volatility to their highest levels in decades. For business leaders, that means continually confronting new and different challenges. Facing uncertainty head-on One thing is clear, we won’t return to the old normal. Business leaders have no choice but to learn how to operate effectively within today’s unpredictable environment. Successful business leaders realize now, more than ever, that businesses have a greater […]

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Shelmore Village in Mount Pleasant is a densely built 2006 development where each building has a ground-floor commercial space, and a residence on the upper floors. A development just like that one would not be permitted under a proposed Mount Pleasant zoning change. Thursday, Jan. 12, 2023. Grace Beahm Alford/Staff MOUNT PLEASANT — The town’s latest attempt to restrict housing and apartment development by slashing the number of residences that could be built above businesses is misguided and will only create more sprawl according to real estate interests. Town Council members say the pending change in land-use rules would block high-density developments that could overcrowd schools and increase traffic while also providing incentives for more affordable housing. The curious thing about Mount Pleasant’s proposed zoning change is that it targets a rule that’s existed for decades but has only been used once, for the 41-building Shelmore Village development in 2006. It’s a development of townhouse-style three-story buildings, with commercial space on the ground floor and two-story homes above. The rule that allowed Shelmore Village permits development of 12 residences per acre if they are built above first-floor businesses with street frontage in a commercial area. The town’s proposal is […]

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Kathi Klawitter (photo courtesy of Allied Payment Network) FORT WAYNE, Ind. – Fort Wayne-based Allied Payment Network Inc. has appointed Kathi Klawitter as chief operating officer. Allied, which provides payment technology for financial institutions, says Klawitter brings more than 20 years of experience building business units for companies within the financial and fintech industries. Klawitter will report directly to Allied CEO Geoff Knapp and will oversee the company’s operations to support growing demand and market share. In her new role, Allied says Klawitter will work to establish new business development, client retention, product development and performance optimization. “Kathi is a deeply experienced fintech leader who possesses a clear client-first mentality,” said Knapp. “Kathi has worked with community financial institutions her entire career, which puts her in the unique position of knowing exactly what it takes to nurture and grow those customer relationships. We are fortunate to have her join our leadership team.” Prior to her appointment, Klawitter worked for Wisconsin-based Fiserv Community Financial Institutions as head of operations, as well as head of operations & initiatives for the global business solutions division. Klawitter’s background also includes work as chief operating officer for Mississippi-based Security Card Services, as well as […]

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It’s a tale as old as time. Nepotism in family businesses is a phenomenon that has been present for centuries, but it has recently gained more attention due to the increasing number of family businesses and the growing awareness of the negative effects of nepotism. Nepotism is the practice of favoring family members in business decisions and operations, often without giving priority to selecting the most qualified individuals. Two generations of owners inside their factory getty One of the main reasons nepotism is prevalent in family businesses is that the owners of the business are often emotionally invested in their family members and want to ensure their success. They may also believe that family members are more trustworthy and loyal than non-family members. However, this can lead to the exclusion of qualified and capable employees, which can negatively impact the business. Nepotism can also lead to a lack of accountability and poor decision-making, as family members may not feel the need to justify their actions or may not have the necessary skills or experience for the position. Another major issue with nepotism in family businesses is that it can lead to a lack of diversity and inclusivity within the […]

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Floods, storms, wildfires, and other natural catastrophes create countless exposures for businesses. For most, planning for when (rather than if) disasters strike is a must. But two key issues place organizations at more risk and increase the need for robust disaster risk management plans: remote working and physical expansions. “Employees are going to work from home for the foreseeable future,” said Dale Buckner (pictured), CEO of Global Guardian. “So, when it comes to planning for natural disasters and disruptive events such as earthquakes, hurricanes, tornadoes, tsunamis, and wildfires, I think the number one difference is that you now must account for people that you think are in North Carolina, but could be in Australia, the Caribbean, basically thousands of miles away.” Buckner also strongly advocates for business leaders to put disaster risk at the top of their criteria when planning to expand their physical footprint. As executives consider their expansion plans for office locations, plants, and warehouses, they need to be aware of the natural disaster risks of chosen locations and potentially reassess plans to avoid those risks altogether. How does remote work influence businesses’ disaster risk planning? Around 5.1 million Canadians were working from home as of May […]

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The Bank of Canada has raised borrowing costs by 4 percentage points since last March. Canadian business sentiment fell to its lowest since the Covid-19 pandemic in a central bank survey, while consumer expectations for short-term inflation held at a record high. Data released Monday by the Bank of Canada show the economy adjusting to high interest rates and heading to a period of weaker growth or even a mild recession. More businesses than usual expect their sales to decline, and consumers have reduced their spending plans. The central bank’s business outlook indicator fell to 0.07 in the fourth quarter, from a revised 1.74 previously. Firms said rising interest rates and high inflation are crimping their outlook for demand and plans to invest. About 70% expect the economy to enter a recession. Higher rates and inflation have also limited the ability of consumers to spend, the bank said in a separate survey. Most workers don’t expect their earnings to catch up with recent price pressures, and about half of households think they will be negatively affected by a potential recession. About half of consumers who expect a recession think it will be moderate in severity and length, while 90% […]

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