How Family Business Owners Should Bring the Next Generation into the CompanyHow Family Business Owners Should Bring the Next Generation into the Company

“Go find your passion,’’ Henry directed his children when they reached their late teens and early twenties. “Find your interests outside our family business and pursue them.’’ As inspiring as those words may have been, Henry, the patriarch of a successful automotive parts business, wasn’t simply freeing his children to follow their dreams. He was requiring it.

Having watched too many other family businesses bring kids into the company early on and “damage’’ them, in his words, Henry was afraid of doing the same thing with his children, somehow coddling them or making life too easy. He was a big believer that the best development possible is “getting your butt kicked” as you learned the ropes outside your family business. So he watched with pride as each of his children found their own career path — one as a lawyer, one an artist, and the other a successful banker...Read more

To Operate or To Dominate: How to Compensate Leaders for Business Model InnovationTo Operate or To Dominate: How to Compensate Leaders for Business Model Innovation

Traditional enterprises have been playing defense for the past decade. In media and hospitality, mergers and consolidation of supply are a tell-tale defensive move. In retail, incumbents are selling off business units or going out of business entirely. The reason for all of these industry upheavals traces back to the same source: the dominance of platform business models.

I co-authored the book Modern Monopolies, and we named it that because platforms are fundamentally restructuring the power dynamics in just about every industry throughout the first half of the 21st century. Fortunately, consumers benefit, for the most part, from these new monopolies unlike old, linear monopolies such as Standard Oil or Ma Bell. Unfortunately, traditional enterprises haven't figured out how to adapt or embrace this new business model. The existing incentive structures around executive compensation are a big factor as to why...Read more

Self-Leadership: Reflexive learner to reflexive leader and a career in the driver's seatSelf-Leadership: Reflexive learner to reflexive leader and a career in the driver's seat

In the classroom, both fledgling managers-of-the-future and Executive participants with decades of experience are taken aback when they enter into the stance of reflexivity. Out with top-down learning and in with personal transformation! A reflexive stance requires a profound investigation of one’s emotions, thoughts, behaviours, expectations, assumptions, personal strengths and personal barriers to success in their career paths as a leader (or a future leader). Having done so, the leader can then start doing things differently. They can begin to make informed and courageous career choices in line with their true desires, values, goals and emotions. This transformative way of learning and being teaches leaders to be agile and to build a career from the driver’s seat. Let’s look at a two examples of how a reflexive stance can help leaders move their careers forward.

From a business student perspective, two of the most common self-limiting barriers I see in the classroom are: 1) leaders are born; and, 2) introverts cannot be leaders (maybe somebody should have mentioned this to Gandhi). Through an inductive pedagogy, students are required to enter into self-dialogue and intense...Read more

6 Entrepreneurial Lessons Learned from Embracing Change6 Entrepreneurial Lessons Learned from Embracing Change

Andrew Colliver is an Entrepreneurs' Organization (EO) member in Melbourne, Australia and co-founder and CEO of Banjo Loans, an online lender that supplies unsecured loans to small- and medium-sized enterprises. Andrew learned valuable lessons during his transition from the corporate world to entrepreneurship, so we asked him what he'd tell people considering the leap into business ownership. Here's what he shared.

So many of us fear or dread change, but to what end? Life is a series of changes from birth to death--both minuscule and monumental. How we react, navigate, and grow from these changes is a critical aspect of our journey...Read more

1% Better is 1000% Better1% Better is 1000% Better

In today's business world, the differences between the good, better, and best companies have never been so large.

Gone are the days of a company succeeding because its product is 10 times better than that of the competition -- nowadays, consumers expect every product or service to be top tier.

Rather, today's companies succeed at the margin, such as through 1% improvements in granular metrics that aggregate and compound over time, ultimately creating huge effects. In fact, the concept of compound interest - which we've addressed here - shows exactly how seemingly tiny differences add up over time...Read more

4 Questions Every Great Leader Should Be Able to Answer4 Questions Every Great Leader Should Be Able to Answer

Most entrepreneurs--especially new ones--charge into leadership with a cloud of aspirational adjectives ("inspiring," "benevolent," "collaborative") roiling their brains but no clear idea what those things look like in practice. The result is confusion, as employees try to deduce the boss's intent ("Am I supposed to take initiative here, or wait for the white flag?") and grapple with leadership that is situational rather than consistent.

Ed Ruggero is a former Army officer, military historian, and business writer who teaches organizations about leadership, including in programs held at the sites of the Battle of Gettysburg and the Normandy Invasion. Among other things, he helps CEOs and their teams craft personal statements--or what he calls "leadership philosophies"--that codify...Read more

Three Ways Great Leaders Show They Care About Their TeamThree Ways Great Leaders Show They Care About Their Team

A few years ago, I worked with a large healthcare client with 74,000 employees. They have built an internal university and invite every clinic manager to attend a management development program for five days. Mid-week, the CEO stops by to do a “Town Hall” where he fields questions and shares whatever information is helpful. More importantly, he communicates, personally and individually, that he cares about each and every one of those 24 clinic managers.

How does he manage to connect in a meaningful way with each of those managers? Well, he has a trick that not many know about. In the days before he shows up, his assistant compiles a document with each clinic manager’s photo, name and important information about them — a son or daughter...Read more

Banks could be on the verge of the greatest of escape actsBanks could be on the verge of the greatest of escape acts

Five years ago when the RBI was pushing interest rates to their lowest levels, VS Parthasarathy, the chief financial officer of the nation’s biggest tractor maker, Mahindra & Mahindra, wasn’t celebrating. Now, when the rates are climbing, he is. Parthasarathy’s reaction may appear strange. But that reveals the reality that lies beneath the popular theories that rising interest rates are bad for corporate world and falling ones are good.

The demand is a lot stronger across the spectrum. His firm made record profits, with consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) margins at 16.03%, the highest since FY10. Of course, investors are bumping it up to record levels giving it a market value of Rs 112,999 crore...Read more

Gen. David Petraeus: Four Tasks of a Strategic LeaderGen. David Petraeus: Four Tasks of a Strategic Leader

David Petraeus is arguably the best known American general of the post-Vietnam era. He gained fame after leading the surge in Iraq, a controversial buildup of U.S. forces that was credited with a sharp reduction of violence during the American occupation. After retiring from the Army, he headed the CIA from late 2011 to 2012 and is now a partner at the private equity firm KKR. Petraeus has written about leadership and is known as a strategic thinker who emphasizes painstaking preparation.

During an appearance at a View From The Top session at Stanford Graduate School of Business in early April, he paraphrased a quote attributed to the Roman philosopher Seneca: “Luck is what happens when preparation meets opportunity.” Petraeus drew on lessons learned during his successful military career and his fall from grace at the CIA to share insights into leadership and personal growth...Read more

3D print is remoulding our lives3D print is remoulding our lives

The world's first commercial housing project based on 3D-concrete printing is underway in Netherlands. Companies around the world have already proven that not only can a large-scale projects be 3D-printed, it can be done cheaply, efficiently and easily. The technology is moving beyond plastic prototypes to everyday industrial use. Here are a few ways the 3D printing is transforming the way we live.

Described as a world first, Eindhoven University of Technology has joined hands with the Dutch company Van Wijnen to build five 3D printed concrete houses that are actually habitable. Local studio Houben & Van Mierlo Architecten is leading the design for the project. Called Project Milestone, these houses will meet all modern comfort requirements, and will be available for rent. These five houses - each with a unique shape and size - shows off the flexibility of cutting-edge tech, that allows the construction of buildings of almost any shape...Read more

12 Fearless Founders on Where They Find Inspiration12 Fearless Founders on Where They Find Inspiration

The founders who made Inc.'s list of the 25 most disruptive startups of 2017 know a groundbreaking idea when they see one. They're working on everything from growing diamonds in a lab to transporting people from Chicago to Detroit in just 25 minutes. So Inc. decided to ask these innovative founders where they turn for creative inspiration.

Some entrepreneurs say they bat around ideas with a trusted friend or colleague. One thing they can all agree on: You often get your best ideas when you least expect it...Read more

Three key questions you will not escape for industry 4.0Three key questions you will not escape for industry 4.0

A recent survey by IMD business school asked supply chain leaders across Europe to select from a diverse list of 20 hot topics what would be their biggest supply chain drivers in 2020. They were also asked to rank their company’s readiness to exploit these drivers.

The top five supply chain drivers for which the implementation gap was the largest touched on Big Data, Digitalization, Internet of Things and Artificial Intelligence, all pillars of Industry 4.0 along with automation, 3D printing and other digital innovations. These are exciting new technologies, but the survey shows that the current reality of supply chains is that, notable exceptions aside, the majority of companies are still not ready to use them...Read more

Jeffrey Katzenberg: How Failure Makes a Better LeaderJeffrey Katzenberg: How Failure Makes a Better Leader

Getting fired while seemingly at the apogee of a career would faze most executives. But it only took Jeffrey Katzenberg eight days to recover after being shown the door at Disney, where he’d headed its motion picture division for 10 years. In just over a week, he teamed with Hollywood heavyweights Steven Spielberg and David Geffen to launch DreamWorks, where they turned out hits including Saving Private Ryan, Castaway, A Beautiful Mind, and Shrek.

Despite the success of DreamWorks, Comcast pushed Katzenberg out when it bought the production company in 2016, an outcome that left him with a huge payout — and some bruised feelings, Katzenberg said during a recent visit to Stanford Graduate School of Business. “Well, what...Read more

A Study of 2.7 Million Startups Found the Ideal Age to Start a Business (and It's Much Older Than You Think)A Study of 2.7 Million Startups Found the Ideal Age to Start a Business (and It's Much Older Than You Think)

If you're in your 30s or 40s (or even 50s) and you believe conventional wisdom, you might think the entrepreneurial train has passed you by and it's too late to start your own business.

Wrong: A recent study conducted by the Census Bureau and two MIT professors found the most successful entrepreneurs tend to be middle-aged--even in the tech sector. The researchers compiled a list of 2.7 million company founders who hired at least one employee between 2007 and 2014. The average startup founder was 45 years old when he or she founded the most successful tech companies...Read more

Caveats to drafting a roadmap for a trillion-dollar digital economyCaveats to drafting a roadmap for a trillion-dollar digital economy

The 2.3 trillion-dollar Indian economy is leapfrogging towards a promising digital future, which is estimated to add a trillion dollars annually by 2025.

How can we sustain the scorching pace of digital growth and possibly reach the avowed goals, even earlier? The Draft National Digital Communications Policy 2018 is indeed a positive step in that direction, towards ensuring accessibility of the new technologies be made equitable, affordable and secured. While it is a comprehensive and well-intentioned document but as they say the proof of the pudding is in the eating...Read more

How to Master the 4 Types of Leadership That Will Make You SuccessfulHow to Master the 4 Types of Leadership That Will Make You Successful

It's unwise to be a one-trick pony when it comes to leadership. Rather, you need to be adaptable and have multiple leadership approaches at your disposal.

An adaptable leadership style is one that is flexible enough to enable you to give your team exactly what it needs to be successful. This means being aware of the work at hand and able to recognize what is required from you to make your team a success...Read more

The Future of FoodThe Future of Food

Today’s technology is rushing into one of the last traditional industries: agriculture.

A field largely still unaffected by the technological revolution, farming is ripe for change as need couples with opportunity.

“We’ve seen a wave of technology impact our information industries,” says Stanford Graduate School of Business professor Haim Mendelson. “Now we see another big wave of technology reshaping our traditional industries, and certainly agriculture is one of the most basic ones...Read more

Introducing the Inc. Entrepreneurship Index: 2017 Was Good to Solopreneurs, Not So Much for Job GrowthIntroducing the Inc. Entrepreneurship Index: 2017 Was Good to Solopreneurs, Not So Much for Job Growth

Entrepreneurs drive jobs, wealth, and innovation in America. Yet, despite their importance, most of the published data on entrepreneurship lags by a year or more. To close the gap and tap the pulse of American entrepreneurship in real time, Inc. asked me to develop the quarterly Inc. Entrepreneurship Index -- a benchmarked score representing the health of the startup ecosystem.

The sources behind the index are broad in scope. They include government data on 60,000 households, payroll records from...Read more

The Future of Farming May Not Involve Dirt or SunThe Future of Farming May Not Involve Dirt or Sun

Farming uses copious amounts of water--70 percent of all freshwater consumed is used for agriculture, according to the U.S. Geological Survey, only about half of which can be recycled after using. It also requires huge swaths of land and, of course, just the right amount of sun.

AeroFarms thinks it has a better solution. The company's farming method requires no soil, no sunlight, and very little water. It all takes place indoors, often in an old warehouse, meaning in theory that any location could become a fertile growing ground despite its...Read more

The 2 Types of Respect Leaders Must Show

Kristie Rogers, an assistant professor of management at Marquette University, has identified a free and abundant resource most leaders aren’t giving employees enough of: respect. She explains the two types of workplace respect, how to communicate them, and what happens when you don’t foster both. Rogers is the author of the article “Do Your Employees Feel Respected?” in the July–August 2018 issue of Harvard Business...Read more

What Attracts and Retains Today's Talent? LinkedIn's New Research Says 3 Surprising ThingsWhat Attracts and Retains Today's Talent? LinkedIn's New Research Says 3 Surprising Things

Guidance is needed now more than ever on how to attract superstar talent and keep them from bolting. Gallup research now indicates that an astonishing 51 percent of employees are looking for another job--an all-time high.

So maybe those long employee lunches aren't just because Chipotle was packed. New research from talent attraction and retention thought leaders, LinkedIn, reveals just what it takes in today's workplace to win The Great Talent Wars...Read more

5 Industries That Are Ready to Be Disrupted in 20185 Industries That Are Ready to Be Disrupted in 2018

When it comes to industries that offer entrepreneurs big opportunities, they often fall into the following categories: they're highly fragmented, outdated, or just generally reviled. Sometimes they're all three.

The industries below are, accordingly, ready for big changes. One of the surest signs? Several innovative, well-funded startups already have taken notice and are busy muscling their way in with products and services designed to change...Read more

Whiteboard Session: Why Every Organization Needs an AR Strategy

Michael Porter and Jim Heppelman explain how augmented reality will change how we work. For more...Read more

Electric vehicles have the potential to fuel India’s growthElectric vehicles have the potential to fuel India’s growth

A recent report by the World Health Organization revealed that 14 of the 20 most polluted cities in the world are in India. Emissions from the transportation sector contributed significantly to India’s pollution levels. As per the Union ministry of environment, forest and climate change’s estimates, the sector emitted about 188 MT of CO2 till 2010; road transport alone contributed to 87% of the emissions. This sector is also a large consumer of oil. India’s current oil import dependency is about 80%. According to the Petroleum Planning and Analysis Cell, diesel and petrol contribute to about 40% and 13% of oil consumption, respectively. The cell estimated, in 2014, that 70% of diesel and 100% of petrol demand was from...Read more

Does Your Company Run Without You? If Not, You Better Look For These 3 Things.Does Your Company Run Without You? If Not, You Better Look For These 3 Things.

As an entrepreneur, you have to own a business -- not a have a job. Wait, how do you tell which you is your case?

It all depends on whether your company can still run while you're not there. If your company depends on you to survive, then you don't own a business. You own a job.

But if you can take a vacation to Hawaii whenever you want, and this doesn't create a dent in your operations or revenue, then congrats -- you own a business!..Read more

Innovation, Collaboration Are The #EnergyIndustry's FutureInnovation, Collaboration Are The Energy Industry's Future.

“The energy industry needs to evolve if it is to meet the twin challenges of rising energy demand and reducing emissions,” writes Shunichi Miyanaga, president and CEO of Mitsubishi Heavy Industries, in Industry Week. In an opinion piece that explores innovation in energy ranging from ‘virtual pipelines’ for liquified natural gas to artificial intelligence in power plants, Miyanaga explains that as we work towards transforming the world’s energy systems, we must work together – drawing on the ancient Japanese concept of “chowa” – to jointly put our weight behind a mix of new technologies...Read more

India maintains position as top IT exporter, lags in ease of doing business – Check what report saysIndia maintains position as top IT exporter, lags in ease of doing business – Check what report says.

India slightly improved its rank in an index of the world’s most innovative economies, maintaining its position as the top exporter of IT services but still lagging in parameters of ease of starting a business, political stability and safety, and female employees with advanced degrees in the workforce. The Global Innovation Index (GII) rankings, published annually by Cornell University, INSEAD and the UN World Intellectual Property Organisation (WIPO) and GII Knowledge Partners, ranked India at the 57th spot this year, a slight improvement from the 60th position in 2017...Read more

Great Leaders Are Confident, Connected, Committed, and CourageousGreat Leaders Are Confident, Connected, Committed, and Courageous

Brad was leading a difficult turnaround of his company and had decided to fire his head of sales, who was a nice guy but wasn’t performing. Three months later, he still hadn’t fired him. I asked him why. His answer? “I’m a wimp!” Brad (not his real name — I’ve changed some details to protect people’s privacy) is the CEO of a financial services firm and is most definitely not a wimp. He’s a normal human, just like you and me. And he’s struggling to follow through on an important, strategic decision. Just like, at times...Read more

These 3 Industries Are Ready to Be 'Disrupted.' Are You Going to Be the One to Do It?These 3 Industries Are Ready to Be 'Disrupted.' Are You Going to Be the One to Do It?

Founders pour blood, sweat, and tears into their startups. Often, it pays off when they're able to "disrupt" their industry, taking on pre-existing inefficient methods, industries, institutions and market leaders. Netflix killed the video store. Wikipedia killed the encyclopedia industry. Uber is killing the taxi industry.

How can you tell which industries are ready for a change? Scholars from the Wharton School of the University of Pennsylvania took a look at that question, and published their findings earlier this month in the Summer issue...Read more

Amazon Prime Day Is Retail Industry BellwetherAmazon Prime Day Is Retail Industry Bellwether

One of the biggest shopping days of the year is just around the corner, Amazon Prime Day. Promoting exclusive offers to Prime members, Prime Day was started only three short years ago, but it is widely considered a brilliant coup by Amazon. Last year, the event generated an estimated $1 billion in sales, according to Cowen & Co. and JPMorgan Chase, and Amazon said it added "tens of millions" of Prime members to the platform overnight. What's more, other brands and retailers experienced sales gains...Read more

Research: The Average Age of a Successful Startup Founder Is 45Research: The Average Age of a Successful Startup Founder Is 45

It’s widely believed that the most successful entrepreneurs are young. Bill Gates, Steve Jobs, and Mark Zuckerberg were in their early twenties when they launched what would become world-changing companies. Do these famous cases reflect a generalizable pattern? VC and media accounts seem to suggest so. When we analyzed founders who have won TechCrunch awards over the last decade, the average age at the time of founding was just 31. For the people selected by Inc. magazine as the founders of the fastest-growing startups in 2015, the average age at founding was only 29. Consistent with these findings, Paul Graham, a cofounder of Y Combinator, once quipped that “the cutoff in investors’ heads is 32… After 32, they start to be a little skeptical.” But is this view correct?...Read more

India maintains position as top IT exporter, lags in ease of doing business – Check what report saysIndia maintains position as top IT exporter, lags in ease of doing business – Check what report says

India slightly improved its rank in an index of the world’s most innovative economies, maintaining its position as the top exporter of IT services but still lagging in parameters of ease of starting a business, political stability and safety, and female employees with advanced degrees in the workforce. The Global Innovation Index (GII) rankings, published annually by Cornell University, INSEAD and the UN World Intellectual Property Organisation (WIPO) and GII Knowledge Partners, ranked India at the 57th spot this year, a slight improvement from the 60th position in 2017...Read more

How to Master the 4 Types of Leadership That Will Make You SuccessfulHow to Master the 4 Types of Leadership That Will Make You Successful

It's unwise to be a one-trick pony when it comes to leadership. Rather, you need to be adaptable and have multiple leadership approaches at your disposal.

An adaptable leadership style is one that is flexible enough to enable you to give your team exactly what it needs to be successful. This means being aware of the work at hand and able to recognize what is required from you to make your team a success.

Most important, it requires a willingness to shift your leadership style to accommodate what your people need in different situations and at different points in time. To this end, you should become expert in at least four key leadership styles, including...Read more

India replaces France as world’s 6th biggest economyIndia replaces France as world’s 6th biggest economy

Paris: India has become the world’s sixth-biggest economy, pushing France into seventh place, according to updated World Bank figures for 2017. India’s gross domestic product (GDP) amounted to $2.597 trillion at the end of last year, against $2.582 trillion for France. India’s economy rebounded strongly from July 2017, after several quarters of slowdown blamed on economic policies pursued by Prime Minister Narendra Modi’s government.

India, with around 1.34 billion inhabitants, is poised to become the world’s most populous nation, whereas the French population stands at 67 million. This means that India’s per capita GDP continues to amount to just a fraction of that of France which is still roughly 20 times higher, according to World Bank figures...Read more

Disrupt or be disrupted!Disrupt or be disrupted!

Disruption has become closely associated with technological innovations. And with the pace at which industries and businesses are evolving, it seems that big, game-changing innovation is the key to a company’s success and relevance in the 21st century.

And if there’s one Indian city that has embraced technological advances and leveraged them to march towards success, it’s Pune. It’s no surprise, then, that the city played host to the inaugural leg of the India Business Summit – Leaders Speak, a joint initiative by CNBC-TV18 and ICICI Bank, which brought CXOs, innovators and thought leaders together to discuss, debate and deliberate how technology is changing the business world...Read more

Want to See a Great Leader In Action? The Best Will Often Do These 7 Rare ThingsWant to See a Great Leader In Action? The Best Will Often Do These 7 Rare Things

If you find yourself wondering where you stand as a leader, you will have to ask yourself how you measure up against the standards and behaviors of the world's top business leaders.

Here are seven reality checks you must face to answer the question, "Where do I really stand?"

1. Great leaders give others the glory.
So many bosses need the spotlight to keep their inflated ego fed. But the most remarkable servant leaders don't need the glory; they understand what they've achieved. They don't ...Read more

4 Effective Business Models That Built Billion-Dollar Companies4 Effective Business Models That Built Billion-Dollar Companies

It takes more than a mere initial idea to build a successful business. To start with, you’ll need a roadmap of where you’re headed and how to get there. Since businesses thrive on profit, one of the crucial questions you must ask yourself at the outset is how to grow your user base to build revenue. Both of these issues are covered under the umbrella term “business model.”

While a lot of business models exist, four of them are worth studying in the context of today's marketplace.

1. The on-demand model.
This model has been receiving a lot of attention because more and more startups are adopting it. As its name implies, the on-demand model pitches its tent...Read more

Global Innovation Index ranks India the 57th most innovative nationGlobal Innovation Index ranks India the 57th most innovative nation

BENGALURU: The Global Innovation Index (GII) has ranked India as the 57th most innovative nation in the world. The country has improved its ranking from 60th position last year. India has been improving steadily since it was ranked 81st in 2015. Meanwhile, China improved its ranking from 22 in 2017 to 17 this year.

The GII is being developed jointly by Cornell University, the Paris-based business school Insead and the World Intellectual Property Organisation (WIPO) in Geneva. GII ranks 126 economies based on 80 indicators. It is now in its 11th edition and has become a major input for policymakers on innovation around the world...Read more

The Most Successful Leaders Make These 4 Boundaries ClearThe Most Successful Leaders Make These 4 Boundaries Clear

No matter how many books and articles I read about the journey of the world's most successful leaders, one principle they all seem to have in common are clear boundaries. We live in a plugged-in world, where high-performance leaders often do not know when it is time to create boundaries to help them continue to elevate.

I remember when Arianna Huffington gave a talk years ago and stated that it was a lack of boundaries that led to her overworking and experiencing a traumatic fall in her office, which led her to create boundaries around the need for rest. It was a wakeup call for every attendee. Also, Twitter and Square co-founder and CEO Jack Dorsey has an uninterrupted morning routine of unplugging himself from the world for an hour to walk five miles to his office, so he can have clarity and focus for the day ahead...Read more

How CEOs Manage TimeHow CEOs Manage Time

In the lexicon of management, the CEO is the epitome of leadership. Yet surprisingly little is known about this unique role. While CEOs are the ultimate power in their companies, they face challenges and constraints that few others recognize.

Running a large global company is an exceedingly complex job. The scope of the organization’s managerial work is vast, encompassing functional agendas, business unit agendas, multiple organizational levels, and myriad external issues. It also involves a wide array of constituencies—shareholders, customers, employees, the board, the media, government, community organizations, and more. Unlike any other executive, the CEO has to engage with them all. On top of that, the CEO must be the internal and external face of the organization through good times and bad...Read more

Your Challenge as a Leader Is to Find Strength in Differences. Here's HowYour Challenge as a Leader Is to Find Strength in Differences. Here's How

Wouldn't it be nice if the world was made up only of people who are just like us, who like us, and who think exactly the way we do?

Well, no. Because (1) we'd be wasting iconic truisms like "opposites attract," and (2) it would be monumentally boring, and (3) it would be just plain un-American.

Anyone in a leadership position ought to have as a goal--especially here in the U.S. with our national holiday coming up--to be an instrument of unity, not division. And the reality is, we here in the United States are very far from united as a country. Our "team spirit" is in trouble...Read more

How Leading CEOs Nominate Their Top PeopleHow Leading CEOs Nominate Their Top People

Russian state carrier Aeroflot was an airline that the current CEO, Vitaly Saveliev, used to avoid. Known for bad service and an aged image, it had enough money for two weeks of business when Saveliev joined the company in 2009. But after five years in the top job, he had put the airline firmly back on track.

He was an industry novice, with no aviation background. But his insatiable thirst for learning and his vision to make Aeroflot one of Europe’s top carriers in customer experience, market share and profitability were crucial to the company’s turnaround. Equally important was how Saveliev nominated people to top jobs...Read more

HomeIndustry Secret to startup survival: 5 successful entrepreneurs share their mantrasHomeIndustry Secret to startup survival: 5 successful entrepreneurs share their mantras

Starting a business isn’t easy, and starting a successful one is even harder. So where to start? One good way is to listen to those who broke through. We talked to some of the world’s hottest startups right now and they are nearly unanimous: You’ll probably fail before you succeed. Turning a great idea into a viable business model will rarely be a linear path, and if you aren’t ready to work harder than you ever thought you could, you’re probably in the wrong business.

The entrepreneurs sharing their insights were all finalists in a $1 million search to find this year’s best social enterprise. The prize was won by Change Please, a London-based coffee company that trains...Read more

Family Business Longevity Requires Owners to Step BackFamily Business Longevity Requires Owners to Step Back

Professionalising a family firm is a necessary yet difficult progression. The owner-manager starts with a solo performance but the firm builds into a symphony orchestra in which the family continues to have a say in the running of the firm. Family-run businesses need to shift their deeply engrained organisational culture from a single-family member leader to a professional manager leading the firm. It can be a difficult process to get right because of the larger emotional issues at stake. For professional managers who have little or no experience with family firms, most will have never confronted this kind of transformation before since it is unique to family firms. In general, both owner-managers and professionals often underestimate the length of time and the scope the process can take.

One study has shown that large publicly-traded family firms in Hong Kong, Singapore and Taiwan have lost half their market value in the five years following the retirement of a family owner-manager. Most of these firms had been too dependent on the family leaders. Hence, embarking on the professionalisation process is crucial for the survival and prosperity of the family firm. In guiding the firm through this process, owner-managers will...Read more

Indian steel demand may double to 170 mt by 2025: BHP BillitonIndian steel demand may double to 170 mt by 2025: BHP Billiton

Anglo-Australian mining giant BHP Billiton has forecast Indian steel demand will double by 2025, even as it termed the government’s steel production target of 300 million tonnes by 2030 as “aspirational”.

“Steel is going to be a great enabler for the Indian growth story, particularly for the downstream sector,” Huw McKay, vice-president, analysis and economics, at BHP Billiton, said on phone. “Using 2016 as the base, we expect the demand to double to roughly around 170 MT by 2025,” McKay told ET...Read more

India records double-digit air passenger growth for 45th consecutive month in May: IATAIndia records double-digit air passenger growth for 45th consecutive month in May: IATA

India registered double-digit domestic air passenger growth for the 45th straight month in May even though volumes have fallen in recent months, airlines’ grouping IATA said today. The International Air Transport Association (IATA) said the country’s Revenue Passenger Kilometre (RPK) — a measure of passenger volumes — rose 16.6 per cent in May. Seasonally-adjusted passenger volume in India has fallen back in recent months alongside some mixed signs on the economic front, it said. “Nonetheless, the bigger point is that May was India’s 45th consecutive month of double-digit annual RPK growth (16.6 per cent). “Passenger demand has continued to be supported by strong growth in the number of airport connections within the country too; 22 per cent more airport-pairs are scheduled to operate in 2018 compared to last year,” IATA said.

While industry-wide RPK increased marginally to 6.1 per cent in May, the grouping said growth this year is expected to slow slightly due to reduced stimulus from lower airfares...Read more

Five Indian companies whose mantra is innovationFive Indian companies whose mantra is innovation

Hindustan Unilever has featured on the Forbes list of The World’s Most Innovative Companies twice before, and this year it breaks into the top 10. The FMCG giant—it is India’s largest consumer packaged goods company (by sales), with a market capitalisation of $50.1 billion—has innovated across product categories, by adding enhanced features to existing products and by launching entirely new products as well.

For instance, with an eye on sustainability, and reducing the amount of water required to wash clothes, it relaunched Rin (bar and powder) in 2017, with a ‘smart-foam’ technology that saves up to half the amount of water required otherwise. A similar strategy has been used to launch the new Surf Excel Quick Wash. Also in the homecare category was the launch of Domex Toilet Cleaning Powder, targeted towards rural...Read more

Why Age is No Bar to Pursue Your PassionWhy Age is No Bar to Pursue Your Passion

How many times have you been told – “Oh but you are too young to do this!” or “But haven’t you passed your prime age to go ahead with this?”. When you do hear such remarks, what do you do? Do you hold back on your dreams and ambitions or do you turn around with more confidence to say, “Age doesn’t defy me”.

When it comes to entrepreneurship too, these questions are heard far too often. But how does one define their dreams according to age? An idea at any age can click and can kickstart your career or give your career a much-needed turnaround...Read more

The Best CEOs Are Ready for CrisesThe Best CEOs Are Ready for Crises

Arguably the biggest corporate crisis we’ve seen this century was that faced by British Petroleum (BP) after an explosion at the Deepwater Horizon oil rig in the Gulf of Mexico in 2010. With 11 people dead and millions of barrels of oil spilling into the gulf, BP’s then-CEO Tony Hayward faced a barrage of criticism from the United States government, environmentalists, insurers and media for mishandling the response and was eventually ousted from the company. Bob Dudley stepped into the top job at a time when many observers believed that BP’s days were numbered.

But Dudley reversed what looked like a hopeless situation by demonstrating engagement, proactively reaching out to diverse stakeholders, communicating the truth to the company and energising employees with confidence and personal commitment...Read more

Business Process Improvement: stop struggling, start doingBusiness Process Improvement: stop struggling, start doing

“I am at a very early stage in my learning curve of business process management. I know our processes need to be improved, but I really don’t know where to start!” Is this something you are feeling? If so you are certainly not alone. This cry is something I often hear and it’s not at all surprising. For organisations new to business process management (BPM) – often from industries such as Government and Education who haven’t traditionally thought of what they do as being business processes - getting started is daunting.

Getting started with BPM
The tendency is to try and learn everything about business process management and to plan out in detail how you are going to capture, manage and improve the processes for the whole organisation - before you get started...Read more

Entrepreneurial Networking: 10 Approaches You Can UseEntrepreneurial Networking: 10 Approaches You Can Use

We’ve all been to a number of networking events in our given industry, but how well do you make use of your time while there? Building up awareness takes a diligent effort and a good approach: It is, after all, up to you to communicate your brand to the other professionals who attend. If you find you are reluctant to talk about yourself and your organization with the people who can help your business grow — or are simply not sure what approaches work best when meeting people cold — then you are losing out on a key opportunity to help your company grow.

Networking is an essential part of business. You never know who you are going to meet or how you could help each other in the future. So what are the best ways to network at an event — and beyond? Below, 10 members...Read more

What Makes a Leader?What Makes a Leader?

When asked to define the ideal leader, different people would have different definitions.

For some, it’s the right use of effective management skills and for others, the traditional traits associated with leadership such as intelligence, determination, will-power, and vision form integral components of effective leadership. And, then there is a set of people who feel personal qualities like analytical skills, technical skills and emotional intelligence possessed by an individual determines the effectiveness of a leader...Read more

What does 5G have in store for the telecom industry?What does 5G have in store for the telecom industry?

In order to maintain their status as bankable stocks that investors rely on for dividend as well as capital accumulation, telecom operators urgently need to get smart about how they will break into adjacent opportunities beyond basic connectivity. This may not be news, but the data below reveals just why it is so important that the industry addresses the question of “moving up the value chain” during the present network investment cycle of 4G leading into 5G.

Pre-5G, telecom capital intensity is on the rise (see graph below) despite much of the world’s telecom real estate sitting in already mature markets. This is both surprising and worrying. It is also a signal of worse to come, since 5G technology is expected to result in an increase in annual investment to achieve the network...Read more

Bring Out the Entrepreneur in You With These 5 Small ThingsBring Out the Entrepreneur in You With These 5 Small Things

With smartness being the groovy thing in, now, as far as starting new entrepreneurial ventures are concerned, newbie entrepreneurs need to remember that entrepreneurship does not necessarily refer to founding a hardcore commercial business by setting up a large office and recruiting multiple teams. Your entrepreneurship could also be furthered in the form of furthering your passions and hobbies.

If you are an individual desirous of turning an entrepreneur, you should be glad to know that the entrepreneurial community now recognizes offbeat entrepreneurial traits as well. For this, you need to introduce the entrepreneur in you to the world. In this regard, check out 5 ways in which you can relatively easily showcase the entrepreneur in you to the world; not necessarily through commercial business ventures...Read more

How Online Grocer Ocado Is Automating Warehouses Using Swarms of RobotsHow Online Grocer Ocado Is Automating Warehouses Using Swarms of Robots

Industry 4.0 is the catchall name for the current trend of harnessing the intersection of technologies such as the Internet of Things, big data, cloud computing, robotics, and artificial intelligence (AI) to create smarter, more productive, more resilient, and more adaptable factories and industrial processes. There is a lot of talk about Industry 4.0, but it can be challenging for companies to start getting their feet wet experimenting with this amalgam of technologies, let alone to deploy them at scale.

One practical example of Industry 4.0 in action is the swarm of robots that power Ocado’s new generation of automated warehouses for online grocery. Think of it as a huge chessboard where thousands of robots roam along rows or columns like rooks, and under every chess square is a stack of storage bins containing...Read more

India will be at centre of 'sunshine countries' of ISA: Suresh PrabhuIndia will be at centre of 'sunshine countries' of ISA: Suresh Prabhu

Commerce and Industry Minister Suresh Prabhu today said India will be at the centre of the 'sunshine countries' of International Solar Alliance (ISA) after achieving its target of having 170 GW of clean energy by 2022.

"India is running one of the largest and most ambitious renewable energy capacity expansion programmes in the world. When achieved, this will place India at the centre of 'Sunshine...Read more