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3 Biases That Hijack Performance Reviews, and How to Address Them

Harvard Business

But according to cognitive science , everybody, by virtue of having a brain that’s constantly seeking efficiency, is biased in some way — and not all biases make us actively malicious. In sales, it could be solely focusing on revenue targets, without considering how the quality of client relationships drives future business.

How To 131
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7 Creative Ways to Boost E-commerce Sales

Tom Spencer

Here are 7 e-commerce marketing techniques to boost your online sales. APIs can be used to provide real-time shipping rates and other functionality that make the checkout process more efficient. Minimizing these costs can help e-commerce businesses retain customers during the checkout process and ultimately increase sales.

Sales 60
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Economies of Scope - Tom Spencer consulting blog

Tom Spencer

ECONOMIES OF SCOPE is an idea that was first explored by John Panzar and Robert Willig in an article published in 1977 in the Quarterly Journal of Economics entitled “ Economies of Scale in Multi-Output Production ”. Distribution – Shipping a range of products is more efficient than shipping a single product.

Cash Flow 118
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7 Key Differences Between Managers and Leaders

Clarity Consultants

In a book excerpted in the Wall Street Journal , Alan Murray explains that while leadership and management often go hand-in-hand, today’s knowledge economy requires the inspiration and purpose-driven vision that can only come from true leaders, not just efficiency-focused managers. Aren’t leaders and managers basically the same thing?

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Why New Leaders Should Be Wary of Quick Wins

Harvard Business

So, you set out for early wins in what seem like obvious areas to fix — on the cost side, perhaps the speed of processes within production, and on the revenue side, the size of the sales force. But rushing toward early wins, even in areas that seem uncontroversial, can be unexpectedly hazardous.

Journal 134
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Does Your Team Hoard Information?

Harmonious Workplaces

When auditing a sales report, the CRM manager notices the report omits contact information for many company accounts. The sales manager states that he doesn’t trust the other salespeople to not “steal his contacts,” so he does not report contact information, communications, or other data pertaining to his deals. Why allow stinginess?

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Why Nudging Your Customers Can Backfire

Harvard Business

Its goal is to influence what consumers choose, either to steer them toward options that the marketer believes are good for them or simply to stimulate purchases and increase sales. Obviously, the answer to these questions is that beyond the sale of produce, the nudge does nothing to promote the consumer’s healthy behavior.

Journal 70