Management Matters

Friendly service is the secret weapon for local businesses looking to attract customers away from large retailers and firms, according to a new survey by American Express.

Use your trademark as an adjective, and not as a verb or noun. This will prevent your mark from becoming generic. For example, you can now Hoover a floor or Google a person. But this type of use of language undermines the trademark.

Unless you're involved in a startup, it's unlikely that you work in a highly adaptable organisation where change is normal and built into everything you do. In fast growth companies, founders, investors and staff plan on change. It is one of their greatest strengths and allows disruptive companies to topple larger competitors. But the sad fact is that, for the majority of us, this is not our reality.

MYOB, an Australian business that specialises in management solutions for SMEs, will award a $20,000 grant to the business owner who gives the best answer to two questions: "What are you most passionate about?" and "How would you spend $20K on your business?"

RMIT economist Steve Kates talks about the economic issues in the election campaign. He says the latest ACCI investor survey shows that business performance has deteriorated sharply after a rebound and suggests that the next government will have to deal with a softer economy.

Leon and Garry talk about Treasurer Wayne Swan’s announcement that the government is headed for a larger-than-expected surplus. They look at speculation that Australia’s biggest banks could be forced to raise interest rates independently of the Reserve Bank decision. But they won’t do it until after the federal election.

It's been a heavy news week. Talking Business is a podcast review of the Australian economy, presented by seasoned business journalists Leon Gettler and Garry Barker, produced in association with the RMIT College of Business. Just press play to listen.

Authenticity and trust will be two of the key cornerstones for corporate reputations in this Era of Responsibility. This will come not only from your policies and public pronouncements, but from the actions and beliefs of your employees.

As curtains fall for Masterchef Australia this season, a renaissance has begun in other quarters of business, says a report by IBISWorld. The program brought a feast of ratings victories for Channel 10, culminating in its record breaking episode last night. However, the real boon may come over the next 12 months for the broader food industry.

Leon and Garry look at how the RBA has cleared the way for an August election by keeping rates on hold at 4.5%. Inflation is building a head of steam with the latest jobs figures showing unemployment now at 5.1% and the ANZ jobs series showing more companies are hiring.

Corporate remnants of the global financial crisis are back. According to new research by Vera Advantage Bureau, “phoenix companies” are on the rise. These companies have come back in the guise of new entities and are hiding their bad credit history by starting over on a clean slate. According to the report, the news has spooked many business owners.

RMIT economist Sinclair Davidson talks about the employment figures and Australia’s current account surplus. While it’s good news on the surface, it signals interest rate rises which he predicts will come in August, coinciding with the federal election. He also predicts that banks will raise their rates even higher than the RBA rate.

The term empowerment within the context of a business organisation is one that is much misunderstood and misdirected. What does it mean to ‘empower' your staff? What does an empowered team look like and how will it help the business achieve?

The term empowerment within the context of a business organisation is one that is much misunderstood and misdirected. What does it mean to ‘empower' your staff? What does an empowered team look like and how will it help the business achieve?

Loyalty schemes on the most part are old-fashioned, generic and with little incentive for the consumer. Chintan Bharwada outlines how a business can rejuvenate how they reward consumers in a way that retains consumer interest.

User rage over Facebook's revised privacy settings may have settled down for now but that's no reason to get complacent. According to AVG's Lloyd Borrett, managing your Facebook privacy is as simple as one, two, three.

Recruitment company Ambition’s chief executive Paul Lyons talks about the Australian recruitment market and skills shortages. Gen Y and Baby-Boomers might have more in common than you think.

Recruitment company Ambition’s chief executive Paul Lyons talks about the Australian recruitment market and skills shortages. Gen Y and Baby-Boomers might have more in common than you think.

Do you know where your favourite coffee shop sources its beans? What about the fat and sugar content of your breakfast cereal? Or how about the environmental standards of the paper you use in the office? Well duh, of course you do. And no, I'm not setting out here to judge your choices, but rather to point out that you probably wouldn’t have had that information 20 years ago. Times have changed and your business is about to be exposed.

In his last article, marketing consultant Steven Howard argued that businesses must invest with a social purpose to win back the trust of consumers. Here, he continues his analysis of a recent worldwide survey on consumer preferences.