Dry cleaners have gone from $11 billion in annual revenue to $9 billion just this decade as people dress more casually and spend less on individual clothing items. In response, some dry cleaners are marketing themselves digitally, adding wash-and-fold services and offering pickup to build business, writes Allie Volpe.
Good leaders know how their purpose aligns with the company, emphasize values and understand their role, says Best Buy CEO and Chairman Hubert Joly. "If you believe you're serving the servants, meaning people on the front line, and your role is to help them be successful, then you've got it," he says.
Professional sports leagues are caught up in federal tax changes that require capital gains taxes for trades of certain assets, and no one is sure how such taxes will be calculated when teams trade players under contract, writes Jim Tankersley. "This is a change we hope was inadvertent, and we're going to lobby hard to get it corrected," says Daniel Halem, MLB's chief legal officer.
One way to better focus your business and strategic efforts is to ask employees how current efforts are going and what you can do better to help them succeed, writes Art Petty. Another way to bring in feedback is by developing a leadership charter that clearly states how you will lead others.
Dissatisfied customers aren't always the loud ones but those who will tolerate you and give you money until they can jump to a better offering, writes Tamara Kleinberg of GoToLaunchStreet. Withstanding this disruption requires, among other things, putting yourself in the customer's shoes to identify frustrations and being willing to reinvent your business model, she writes.
There's reason to believe workplace stress is a leading contributor to health and family problems, and yet it's unlikely we'll change our ways like we did with issues like environmental pollution, says Stanford University professor Jeffrey Pfeffer. "If I had to bet on how this will change, some company is going to get sued, some lawyer will win an enormous award, and that will open the floodgates," he says.
Data-driven forecasts will go wrong if you have bad data, a bad model or a biased view of the data, writes Eric Brown. "Just because they look good on paper doesn't mean they will be perfect (or even average) in the real world," he writes.
Feedback should look to help someone learn going forward and not simply be a list of criticisms, writes Shubha Apte. "Feedback can work wonders for continuous development and is often considered a gift for improvement," she writes.
Facebook's chief information security officer, Alex Stamos, will leave the company this year, reports say. Stamos has been a proponent of disclosing more information about Russian activity on Facebook, which is dealing with a backlash over disinformation campaigns and reports that Cambridge Analytica used data gathered without Facebook users' permission.
Laura Alber moved to the West Coast after college and worked in various positions before landing an entry-level job at Williams-Sonoma, where she is now the CEO. Women hold just over half of the company's top leadership roles, a fact that Alber attributes to the business' emphasis on performance.