Influence of Social Media Marketing

Isn’t it enormous how many people use social media?

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Source: http://tobesocial.de/blog/social-media-marketing-mobile-online-trends-2013-studie

When I saw this current statistic from 2013 I was really impressed by the huge amount of people hanging around at social media platforms. Concerning the rising trend of those platforms in all various facets my interest focuses more on the marketing and advertising part that is generated there.

 

Marketing Possibilities for Businesses

Looking at a business’ marketing concept: In general you want to address a lot of people, want to connect them and want to put the record of your business straight.

That’s why Stephanie Chandler, an economic book writer is convinced of social media marketing. She demonstrates that the possibility to sell your business or your product in the best customer addressing way and use the repeat exposure tool to influence the users mind subconsciously with your advert is provided by the platforms. Banners decorating social websites assure the constant stream of commercials and logos.

Supportingly, David Dubois, assistant professor of marketing INSEAD, invokes the example of American Express which includes the introduction of a conversational page at Facebook(Amex on Facebook). The successful leverage hereby is that Amex provides continuously relevant information for potential customers or investors to stimulate interaction between the audience. Including facts and trends as well as professional contributions on their Facebook page, Amex is able to address the audience directly and because of the conversations Amex is also able to align their business to customer needs.

As well as American Express is able to position itself in the center of information exchange, HP also experienced a boom becoming the first business which has 1 million followers on LinkedIn which are in return connected to 43 million other members.

To turn the tables, Paul Dunay, global VP of marketing for Maxymiser, states that the usage of social media may also end up in a total mess! Quantas Airlines for instance ventured a faux-pas by raffling a first class pajama to promote their possibility of luxury flying and raise Twitter followers. The thing was, that this came after months of negative publicity stemming from disputes which then lead to Twitter comments like:”Getting from A to B without the plane being grounded or an engine catching fire. #qantasluxury”, which were spread over the internet immediately and finally, resulted in the grounding of the entire Quantas fleet.

 

Trends of Social Media Marketing coming up 2013

To drift away from good and bad examples of social media marketing I was wondering what the year 2013 will bring us in relation to marketing trends.

What caught my attention was the increasing trend towards the mobile usage of social media. In Germany, the acquisition of smart phones in relation to other mobile phones raised from 67% to 77% in the end of 2012. Last December, about 16 million Germans had access to social networks or blogs via their smart phone.

To relate this trend to marketing via social media, Facebook already faces a downturn in revenues because of the declining PC usage.

Advertisers are not willing to pay as much for mobile ads because they simply are not as effective as ads on a desktop. And the mobile ads that advertisers are buying are a lot cheaper than ads on a desktop, pricing at 56 cents on the dollar”, Colin Gillis, analyst for BCG claims.

The development of viable advertisement from desktops to mobile platforms is not as easy as thought. Recent studies show that 41% of adverts are shared via display, whereas only 8% attention is given to mobile adverts.The question arises how to squeeze ads on tiny mobile screens to still afford marketing options for businesses.

Ryan Holmes, CEO of HootSuite announces that new social ad models characterized by innovative offerings like Promoted Tweets and sponsored Stories will replace the traditional banners and pop-up ads. The main concept is convergence. The target is to combine ads and content.

 

How important are the social media ads? How do they influence users?

Social networks became more powerful than one has probably thought of: navigating purchase decisions, rising confidence in brands and communicating with customers affect the everyday usage of social networks. According to a recent report from YouGov, in the UK 23% of users researched a product after seeing it on a social media site, which represents a 6% increase of the year before. In addition to that research 13% of the people decided to actually buy something, which increased 7% from the year before.

To come back to the percentage of users who researched on a product the study also reveals that only 5% actually claimed that they have clicked on an advert in the last year. For me it seems to be an indicator for subconscious marketing. Another aspect which is interesting to me is that according to the study less than 1 in 10 feel that targeted advertising is relevant to them.

To conclude, users are obviously open to influence by adverts in social networks. Although at the moment it seems to be more like a subconscious absorption, I guess that when target groups would be addressed better advertisement would me more relevant for them and had more potential to grow.

 

Does CSR actually pay off?

Economy, Environment

After asking the question “Corporate Social Responsibility or just a Marketing Tool?!” and writing about Social Entrepreneurship I finally want to examine what professionals say concerning the profitability of CSR and whether companies should even bother with investing into the society and raising social welfare. So, I will try to outline some opinions experts in this field have on this question.

As an opponent of CSR Aneel Karnani, professor at the University of Michigan – Ross School of Business, claims in his article “The Case against CSR” that “the idea that companies have a responsibility to act in the public interest and will profit from doing so is fundamentally flawed.”

He warns that “It’s not surprising that this idea has won over so many people—it’s a very appealing proposition. […] But it’s an illusion, and a potentially dangerous one.”

He explains his position by saying that the main responsibility of a manager in a company, in most cases, is to act in the interest of its shareholders, so-to-say, to make the highest possible profits. And this would stand in direct opposition to acting for social welfare, as this would always incur costs and therefore lower profits. Managers would be paid to bring profits to the companies, otherwise they get fired and are replaced by another person who will then try to pursue the interest of the shareholders better. So, it should be irrational, says Karnani, for a manager to act against that will.

He insists that CSR, which as per definition are “voluntary activities undertaken by a company to operate in an economic, social and environmentally sustainable manner” therefore can’t exist with for-profit organizations. Organizations seeking profit will probably contribute to social welfare but only because it will profit themselves in return.

But Karnani also gives an exception to this assumption. Only when owner-operated businesses choose to accept decreasing profits for the sake of social welfare they clearly do not fall under that assumption but do an admirable thing by giving some of their fortunes back to the society.

Moreover, Karnani is of the opinion that profit is the right goal for companies because profits generate taxes that allow governments to spend money to tackle problems in the society. Therefore he argues, “as society looks to companies to address these problems, the real solutions may be ignored“, what would mean that CSR even brings negative effects for the society and not only to the business or the manager.

Mike Lawrence (Chief Reputation Officer & Executive Vice President at Cone Inc.) shares the view that companies should have profits as their first priority, but that CSR is “the right approach for a company’s long-term viability… and its bottom line” as he claims to “see from experience that profit and the public interest are interdependent.”

He argues that companies must invest into CSR, first, because prospective employees are more likely to accept a job at a socially responsible company what will also increase their morale and decrease training costs, second, corporations can expect support from local authorities in turn for CSR programs, thirdly, costs will be reduced when environmental impacts are reduced and that CSR offers even more advantages.

To back up his arguments he refers to a study by AT Kearney that shows that “companies committed to sustainability had a 15 percent stronger financial return even in the down economy” and also adds that Walmart reportedly could save $1 mill. in costs just by turning off some lights in 4000 employee break rooms.

Looking closely at Lawrence’s and Karnani’s arguments, we can detect that both pursue a strictly capitalistic view but that, on the one hand, Karnani insists that any corporate spending, as responsible as it may be, towards the society contradicts the assumption that the government should maintain social welfare but, on the other, Lawrence totally supports the idea that things that can benefit the community or the environment and indirectly also benefit the company are to made use of. That means that the calculation of profitability and evaluation of Corporate Social Responsibility, when properly planned and practiced, actually is a matter of economic theory and highly depends on one’s economic perceptions.

Welcome to the robots vs. welcome to creativity

In Internet age, creativity is a necessity in business

David Usher, a very popular singer songwriter from Montreal believes that creativity is, and not only for him in the music business, a necessity. Since the Internet has got that important and therefore changed our society very much, Usher is convinced that creativity isn´t a luxury or risk anymore, but a requirement. I absolutely agree that our century can be seen as an Internet age. However, I can´t imagine which impact it has on creativity. David Usher remembers us that there is now a much bigger competition due to all the possibilities which the internet offers. Before we had a so called protection of location which I find is a funny term. Besides from all this it is important to understand that creativity isn´t only about creating better and newer products. David Usher thinks it is “really about adopting an attitude or a culture that embraces change because the environment we are living and working in is so much faster.” A recent IBM study of 1,500 CEOs found out that creativity is the number-one “leadership competency” of the future. There are a lot of companies that show that this is true. Apple iPod outplays Sony Walkman, Starbucks’ beans and atmosphere drown traditional coffee shops, Skype uses a strategy of “free” to beat AT&T, and Southwest Airlines flies under the radar of American and Delta.

Ways to foster creativity

David Burkus is convinced that new ideas are and always have been rejected from others in the first place. He asserts that man has difficulties in valuing the usefulness of something new. Since we only know and are used to the old idea, he believes that we initially ignore the new one. I don´t think that it is that bad but apparently he seems to be right. David Burkus points out that this isn´t only a recent problem, but existed also centuries ago. Igor Stravinsky´s inharmonic music pieces were seriously rejected by the audience until a few years later Walt Disney rediscovered its uniqueness and incorporated the melody into the movie of Fantasia. Many people wouldn´t even assume this, as we grew up with these kinds of movies and never were aware of the reaction. David Burkus calls this kind of behavior an initial reaction of rejection. This is only one example, as also in companies like Kodak new ideas were also initially not accepted. Therefore David Burkus criticizes our way of judging new things. Instead of ignoring them he recommends us to reconcile the new and the value of an idea. Only then we can benefit from it. He does believe that there is still potential, but important is to recognize the ideas that already have been invented. His aim is to find people who will spread these ideas. That is the merit.

Say yes to your own voice

Scott Berkun remembers us that now is the best time in history to create something new. 100 years ago it was much more difficult as there still weren´t all those inventions that there are now. In contrast to David Burkus Scott Burkun argues that the passive consumption of others´ ideas isn´t the appropriate way of gaining inspiration and positive energy. He reminds us that creating new ideas is hard work and needs its time. No matter how inspired we might be, the challenge will always be to have patience. For Scott Burkun the source of inspiration is our own soul. He describes our soul as the voice in the “inside” of ourselves that gives us orientation. Unfortunately Scott Berkun regrets that as we get older the voice gets smaller and smaller. We have the feeling that we have to adapt ourselves to our teachers, professors and bosses. Therefore unconsciously we leave behind our voice and forget it. I do agree that as we get older we more and more change and adapt ourselves to others, but I have mixed feelings about that we should not get inspiration from others. Scott Berkun encourages us to listen to it and find moments to concentrate on it. In my opinion this can only work out if we in addition discuss our ideas together with others. Nevertheless he concludes that inspiration cannot come from other people and creativity books, but especially from our inner voice. Looking at these two videos I can´t really decide with whom I agree. I think a good solution would be to make a mixture of both. Unfortunately I doubt that companies take creativity that serious as they should do.

Convergencing” an innovative company

Everybody knows that being innovative isn´t easy at all, but leading an innovative company sounds even trickier. Jeff Dyer wants us to understand that innovative companies have all something in common. They apparently innovate on three different levels: growth, sustaining and efficiency innovation. Surprisingly creativity is only one-third given. According to researches with twins the other two third is influenced by our environment. So there can´t be any excuses of not having the talent. To make it short: Jeff Dyer concludes that each business can be creative, the clue is to find a balance between these three mentioned levels and a good leader. Bob Lord sees the secret behind something a different. That is how I suddenly found the word convergence. Of course I can imagine what it means, but in this context it was something new. Bob Lord defines convergence as the coming together of media, technology and creativity in order to create experiences that enrich the consumer´s relationship with the brand. He wants to point out that as these three points are always changing and reemerging in a different way it is always a great challenge for a company to be quick enough to adapt to customers´ expectations. It may sound simple in the first moment, but unfortunately adapting your organization to convergence is a never ending an exhausting cycle.

What are Creative conflicts?

A lot of people assume that in order to create something new a peaceful and harmonic atmosphere are of a great importance. However, Robert Williams wants to prove the contrary. We very often see a conflict as a destructive shadow, as the author calls it. But instead he encourages us to take conflicts as an opportunity to be even more creative. Only by discussing an idea, it can be remodeled and improved. I fully agree with this wonderful of Picasso: “Every act of creation is an act of destruction.” This doesn´t mean that employees should provoke conflicts, but he wants to point out that we should rather give up at least one fact, belief or assumption. I understood this way: creativity certainly benefits from conflicts. There are even some people that talk about conflict management. “When a project is being developed, but isn’t fully formed, criticism and constructive conflict are vital to testing the value of the ideas.”Of course it is always important to engage the right kind of fight.

Marketing creativity

Due to the hard pressure of global competition Yannig Roth claims that creativity is becoming the most treasured asset for a company. He believes that creativity is crucial to experience a business success. It is quite interesting to say that creativity in a company is connected to the quality and talents of the employees. Only then it is possible to develop a product which fulfills customers´ needs. So he certainly knows that is essential to foster creativity and not to see it as something given. Some easy methods can be workshops and courses for the employees and managers. I´m not that convinced that this can always work out as it should do. Therefore Yannig Roth introduces another interesting trend of how to attract creativity. Crowdsourcing and Co-creation is often a good and effective way of killing two birds with one stone. Yannig Roth believes that it is the best solution as the company directly has contact to the customers´ preferences. According to researches many firms like Unilever made good experiences with this kind of creative method. Let the customer be creative. On the one hand I agree that companies still have to do a lot to call themselves creative, but why not build a connection to the customer and reach creativity this way. The workplace is changing and it won´t always be easy to be up to date. Very often one even talks about new digital trends. It shouldn´t be an excuse for companies, but rather a small push in the right way.

Female Genital Cutting

This week I came across this topic when I watched a documentary on the German television station ZDF. This documentary was about Female Genital Cutting in the world but especially in African countries. 

On one hand I was always interested in this topic but on the other hand I was also really afraid of what it would bring and do to me. Because as a women no matter what age having to deal with this issue is not really easy.
I read the book “Desert Flower” by Waris Dirie who got cut when she was just five years old. After the book was released a movie which shares the same name as the book title was published in 2008.

So what is Female Genital Cutting? A synonym to this name is also Female Genital Mutilation, in short FGM. It involves the partial but unfortunately mostly the total removal of the genital organs where there is no medical intention behind it.
According to the World Health Organization (WHO) FGM is being practiced in 28 countries in the Middle East and Africa. The countries who are being considered to proceed this procedure are countries with a high degree of Islamic orientation, for example Somalia, Ethiopia and Mali. More further the WHO had estimated as of 2013 140 million female around our globe had to experience it. And out of this about 101 million just in Africa.

FGM rate in Africa

Nahid Toubia a Sudanese journalist from The New England Journal of Medicine” wrote in her article that FGM is applied on females at the age of 4  or during the beginning of their puberty. But she also declared that FGM is conducted on infants and also adults.

So many people who never dealt with this topic might ask themselves why people are doing this.

What is the reason for FGM?

In his paper “Ending Footbinding and Infibulations: A Convention Account” Gerry Mackie explains that the reasons for this are not really anchored in the Islamic religion, but more in the view of some societies were FGM is being practices. Women who have been cut are considered to be more aesthetic, honorable and decently. But more important for the people who believe in this procedure, FGM is a kind of cultural identity. With this outsiders take the control over the women’s sexuality especially by reducing their sexual desire and promoting chastity and fidelity among the people.

Many independent and dependent organizations such as the WHO, the United Nation, unicef, the Economic Commission for Africa and many more have been trying to stop FGM. But as you can see it is still a big problem in this world. But here I ask myself is it really a problem of the world, or is this a problem for the Western world?

Accept cultural differences?

FGM does not take place in Western countries. But I feel like that this is an bigger issue for Western countries than it is for Non-Western countries. We have seen that no matter how awful these procedures sound like, it is still supported by the people who do it. The legal restrictions in the countries were FGM is being proceeded have abolished it from their law, but it should be considered that most African countries still have many nations or ethnicities that do not live by the rules of the countries law.

I think that the effort many organizations are doing is important for us as humans to get an better understanding of what is going on. I think that it would be fair to give the people affected the opportunity to choose for theirselves if they want to be cut.
But is this our duty to play the world police?

How Big Data is transforming business

Why use Big Data?

As defined by IBM, ‘Big Data’ is an opportunity to explore new and ‘intelligent’ decisions. This data is collected from social media posts, digital pictures, GPS signals, purchase transactions, and more. Data journalist such as David McCandless visualizes the data to reveal patterns and connections.

This field is booming with analysts discovering statistics that change our view. In Hans Rosling’s TED talk, he explores global trends in order to “debunk” myths with statistical evidence. As stated by Rosling, information needs to be more accessible because it has the potential to change the quality of the information itself. ‘Big Data’ is used as a way to inform individuals and businesses on the most intelligent choice that uses statistical evidence instead of intuition. In ‘Just-in-time’ descriptive analytics, Kandogan intelligently explains that visualization techniques coupled with analytic techniques allows the structure of the data be understood easier. Although Kandogan reports on how to observe statistical trends and patterns by seeing where the ‘data-points’ lie on the graph, this isn’t ground breaking information that will be significant to a business. I now know what ‘Big Data’ is and many of these articles explain how to read the structure of data but in a business, one needs to be ready to explain something that another person is not familiar with at all.

It’s all a story

Innovators such as Hans Rosling were using big data to move forward as I researched more. What was his appeal? He told a captivating story of why and how the data looked; he stayed away from statistical terms but engaged every member of the audience to understand his research. Kristain Hammond from the Harvard Business Review insists that a narrative that gives context to data is more valuable than the data itself. As Hammond asserts, communicating what the data means provides useful insights for businesses and individuals to make the best decisions.

To supplement Hammond’s view with formal research, the Journal of Statistics Education published an article that highlights students develop a conceptual depth and inferential thoughts. The research argues in favor of stories as verbal clarification in order for the audience to ingest the information. My research has led to me to explore the building blocks of data-driven story telling to help everyone in the business understand.

My research felt incomplete and I needed to find out how would this launch a business forward. From what I’ve written before, ‘Big Data’ is changing how we learn and express the information but what is new in the field of ‘Big Data’?

Beyond Advertisements

No longer ‘Lost in Translation’, ‘Big Data’ isn’t only for the sophisticated researchers such as Hans Rosling. Today and in the future, everyone has the capacity to become informative and contribute to their business. In Mona Patel’s article, she points out data is easily accessible for even small businesses today. Businesses ask their own questions and explore different views that could be extremely beneficial, as Patel evaluated. The ability to explore new viewpoints is transcending beyond internet advertisements.
Jeffrey Hammerbacher is using his experience to combine genetic information with the medical histories to build more sophisticated models of biology and health outcomes. He once worked as a data analyst for internet advertising, today he aspires to move medicine in the direction of a quantitative discipline. His talents are helping medical research evolve. Jake Porway also has used his skills in order to social issues and real world problems. His mission is to collaborate an understanding and insight through data in order to serve humanity.

How are Hammerbacher and Porway changing business? They are addressing issues beyond internet advertisement. They are solving real-world problems. Their innovative businesses and projects add value to our transforming society. In my conclusion from the research I found, these innovators are explaining what they see from the data collected. They translate their ideas and views to their teams in order to focus on a singular goal of solving the world’s problems.

Review pages: Shift to consumer power

The development

Most of us are at least consulting one online rating website before booking their next stay in a hotel. One of the most important ones is TripAdvisor, which is already running now since 12 years. They have created a platform for the public that makes it very easy to share recommendations about travels and also offers a booking service. Realizing that people are usually quite collaborative and like sharing experiences they turns it into a successful business. According to PhocusWright this could lead to a “power shift toward consumer” in the hospitality industry.

Threats for the industry

Even though the number of contributors should give the reviews some reliability the most important contra is still how accurate and genuine the reviews really are. There is no checking before writing a review if you have really travelled to that certain venue. Moreover author Summer is reporting on the TravelLog on Washington Post about experiences she had, with reviewers that were ‘nitpicking a place to death’ without understanding that some of the things there were criticizing actually formed the unique experience in a hotel.

New ways and opportunities

TripAdvisor has turned into a vast store of information. Undoubtedly of the utmost importance re the over 50 million reviews and opinions by average travellers, which gives it on the first hand more reliability than smaller pages of its sort. The company managed to make it fun for their visitors, by adapting strategies from the gaming industry, from profile pictures to a strong connection to social media. The pages can not only help the hotels to increase traffic, but also have high revenue by for example click-on advertisements as illustrated below.

busapps

So what is the answer?

Considering the professional discussion I followed and my personal point of view, these pages are rather favorable. However I found it quite interesting that also professionals were concerned that some reviewers were not actually getting the point and sometimes being harder on the hotels than actual professional testers would be.

Choosing the right device for your next booking

What is price discrimination?

Price discrimination indicates the method of either manufacturers, retailers or wholesalers to advertise with different prices for exactly the same products based on who wants to buy them. In earlier times this practice was misused, by for example offering different prices to people of other sex or skin color. This is really rare today.

Today most people might be aware of the fact, that they are offered different prices for example by airlines, depending on for example when they book, there are however even more and more characteristics that are used to differentiate between customers.

Applications to business

There are booking websites out there that actually give you a discount on whether you are booking from a usual computer or from a mobile device.
Liz Uber, vice president of revenue management at Pillar Hotels & Resorts explains this by saying that “some of these reservations will be booked the same day or 24 hours in advance when some of your discount rates are not available. If a hotel is not priced competitively in the market they will not be able to convert this potential guest.”

The travel sites Orbitz and CheapTicket for example used this technique already. Some deals are only available when you installed the sites app on your iPhone or Android device. Customers could by that see discounts of as much as 50 % from the original price. Moreover this applications is also determining the physical location and by that will offer different prices based on where the customer is located.
So when you shop or book next time, might be a good idea to recheck it undercover…

Social Media – Friends, Trends .. and Jobs?

Because of the restrained German economy in 2012 the job market was recently not very offensively. But the perspective for the next 5 years are all in all increasing!

Recent surveys show that the educational level still plays a crucial role for recruiting. Employers prefer Master degrees with more than 86% whereas Bachelor degrees are only demanded by 38%. To attract graduates of Generation Y a lot of employers have changed their handling concerning the junior staff. To mention is here of course the recruiting trend towards Social Media.

The “Social Media Recruiting Studie 2012 von Deutschland” compares the popularity of social media with the traditional ways of recruiting. One can say, that especially the use of the Internet in total has gained a lot of importance. 84% of German companies operate HR websites as well as online job boards. The number of companies using Social Media has increased in the last years to a percentage of 74% whereas recruiting via print is only used by 45% of the companies. Stefan Schär of Social Media Schweiz invigorates this by emphasizing the advantage of using Social Media to receive a more authentic insight into a company which doesn\’t work as good using print. To continue, further Social Media extension plans are already made by 2/3 of German companies for the year 2013.

As the 2nd prevalent platform right after Xing(68%), 65% of companies use Facebook for searching and communicating with potential employees. “The connection barrier between employer and employee has reduced and it is easier to build up business relations.” states Schär.

To mention another point of view: “Indeed Facebook is established as a recruiting channel but nevertheless it is still way far from being professionalized!” claims Jan Kirchner, partner of the digital agency Atenta. This statement probably refers to is the insufficient upkeeping of most of the firm\’s fan pages. Recently, it is enormously criticized that after the “Facebook Recruiting Study 2012”, 46,7% of the companies show no reaction to fan activities on their pages at all!

But on the other hand there is still high potential for improvement. To present one\’s company with videos or pictures on Facebook is one possibility that already exists and another that was introduced lately is the Emplido- Facebook App for applicants which includes filtering one\’s strengths and looking for valuable connections for professional success to help you find a job. A further project which Facebook is planning on is the introduction of a meta-job board to focus more intensively on the Social Media recruiting trend.

In the view of Alexander Senn of KPMG, Social Media should just serve as a primary source of information or as a leverage but will never replace the personal contact.

Let the Picture do all the Talking

It’s the Same Old Song

Presentation skills are a completely important skill set to have. Whether in undergraduate or employment, effective communication has been stressed as important foundations for career success. Those basics of body language have been done over countless times. Communication skills can only impress the audience so far. An effective presentation needs to invigorate rather than trying to make “boring” information less “boring” in a few steps.

Welcome to the 21st Century

Today, there have been such great presentations by Steve Jobs and TED Talks that have completely captivated the world. They do more than follow a basic 7 step outline. These presentations were engaging, passionate, and exciting. Each of these awe-inspiring presentations have visual aid to convey their powerful message. Researchers have noted effective presentation skills based off what people like Steve Jobs have done. Steve Jobs didn’t convey the iPod to be less boring as others put it, he visualized a story for his audience.

“A Picture is Worth a Thousand Words” is recognized as “seeing is believing” according to the Picture superiority effect which confirms: humans more easily learn and recall information that is presented as pictures than when the same information is presented in words. Bulletpoints aren’t effective tools anymore to explain “how things work”, according to Marta Kagan. Kagan provides seven ‘lessons’ on how the human brain learns better through visual aid and emotion in the form of a story.

Brainstorm ideas, visuals, and concepts that break down complex data into a simple narration that supports a message to the audience. As stated by Kagan, let the message be clear and concise such that the audience retains what is said. Information is not provided but a message is conveyed, according to Kagan.

Explore!

Visualization is an extremely effective tool for presenting on “how things work”. Today, visual presentations aren’t “what is”, they tell a story of what could be and how we get there as concluded by Kagan. Exploring the road map to “what could be” is all in the process of how we learn.

Watch when Steve Jobs first introduced the iPhone in which he delivers a presentation using visuals as key points to reinforce his message.

Companies for the People – some great examples

As we, the authors of this blog, try to address current topics related to Management, Business and Economic, every reader can easily guess that we are students which all, momentarily, take Business and Economics courses. Therefore most of the time we hear lectures about how to optimize processes, maximize profits and minimize costs. These are some of the most basic goals most economic players try to achieve.
Therefore sometime everyone of us had to think/ happened to think at least once about alternative business models because the economic world does not stop to evolve and innovative new ideas and niches have to be found for novel entrepreneurs and also long-established companies to keep up with the today’s fast development in all markets.

So it happens sometimes that some of these new alternative business models get astray from the conventional path of economic principles and bring about evolutionary trends.

One of these trends is certainly the sharing movement that frees customers from the obligation to buy products they just need maybe a few times.

But such alternative thinking also brings about concepts that suddenly have completely different goals. Which are not aimed at generating money for the shareholders or owners, what is the totally understandable usual goal, but which are designed to help to address problems of the society. This kind of entrepreneurship is widely known as “Social Entrepreneurship“.

The probably most famous social entrepreneur is Muhammadd Yunus, the inventor of microfinancing and founder of the Grameen Bank in Bangladesh. For his commitment to provide really poor rural population with small amounts of unsecured loans to give them a chance to overcome yield shortages and be able to pay longterm debts, in 2006 he was awarded the Nobel Peace Prize.

This is a very interesting video explaining Social Entrepreneurship further and giving many more examples of social entreprices: