Competitive horizon
Article Type: Competitive horizon From: Strategic Direction, Volume 30, Issue 2
Global growth set to be lower, predicts IMF
The International Monetary Fund (IMF) has downwardly revised its forecast for global economic growth, several reports point out. The organization expects 2.9 percent growth at the end of 2013 and 3.6 percent growth for 2014. Both these figures are 0.2 down on its earlier July forecasts. According to the IMF, growth will be lower mainly because of weaker than expected performance in emerging economies including China, India and Brazil. The US is also set for weaker growth than previously anticipated, with the figure for 2014 lowered by 0.2 to 2.6 percent. However, greater optimism surrounds countries in the Euro zone as government control on tax and spending eases. Growth of 1.0 percent during 2014 is now predicted for these nations.
Key qualities that a leader should possess
Leadership constantly evolves and demands the acquisition and improvement of various skills and qualities, a report published by the Examiner (http://www.examiner.com) claims. A leader must first and foremost be a role model and aim to benefit the organization and its employees rather than seize any opportunity to exercise power and control. Setting the right example to the team where hard work is concerned is equally vital. Whatever the company size, leaders need to be at the forefront in order to motivate others to do the same. Shrewd leaders also know the value of their workforce and will prioritize their needs alongside those of the firm. This requires an ability to listen to what employees say, appreciating their concerns, and responding in a manner that is clear and polite. Another important quality is sincerity. It is invariably damaging to morale when leaders make promises to the workforce that they subsequently do not fulfill. Commitment levels are sure to fall among employees who feel let down. Mistakes along the way are inevitable but those who continue to learn and seek to better themselves will prove to be the most effective leaders.
Further short-term decline expected for global personal computers market
Statistics released by IDC and Gartner Inc. show that worldwide personal computer (PC) sales fell in the region of 8 percent during the third quarter of 2013. The market research firms blame consumer attraction to tablets and smartphones for what was the sixth successive quarter of decline. It is noted in addition that companies in developed nations are prioritizing their spending on other devices and are thus retaining computers for longer. The USA bucked this trend though, with evidence of stable performance there. It is reported by the New Zealand Herald (http://www.nzherald.co.nz) that the global market is expected to drop further during 2014. Both organizations are, however, more optimistic about prospects for the following year. According to Gartner, 2015 will herald a return to single-figure growth. Replacement of older PCs is cited as a key reason for this expectation.
Keeping your customers happy
Many businesses believe that strong sales and few complaints means that customers are content. But such assumptions are dangerous, according to an article published by the Examiner (http://www.examiner.au). Complacency takes root and firms fail to interact properly with clients and their needs are therefore not understood. And because of this divide, unsatisfied patrons are likelier to vent their concerns to other people rather than the firm. Negative publicity and lost trade are unwelcome consequences. Keeping customers happy is not difficult though. Providing the right things are done. Effective communication is vital, not least because it enables customers to have their say. Shrewd operators recognize this and go further by inviting their clients to suggest ways in which performance can be improved. It is important to listen and take these ideas seriously. Making contact with the organization should be straightforward and response to inquiries swift. It helps if contact details are easily accessible to the public. When complaints or problems arise, the matter should be dealt with in an equally efficient and prompt manner. Consistency is vital, in all aspects not just in this area. Customers who feel they can rely on a firm are likelier to be satisfied with their experience. Trust is obviously a key factor here, so companies must ensure they deliver on any promises made. It is even better when there is a willingness to go the extra distance as people will value any firm that makes them feel special. Such gestures positively impact on customer loyalty, which should also be rewarded. Giving an occasional discount or gift shows appreciation and even a simple "thank-you" demonstrates that the organization does not take anyones custom for granted.
