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Tag: Impact

  • Entrepreneurship and Innovation: The Inconvenient Truth

    Entrepreneurship and Innovation: The Inconvenient Truth

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    Entrepreneurship and innovation: The popular belief

    Entrepreneurs are widely believed to be the agents behind economic growth and innovation. They are, we are told, the movers and shakers who create new industries, unseat current leaders from their thrones, and open new frontiers for everyone. Popular culture tirelessly propagates one success story after another – from Facebook's Mark Zuckerberg, who was glorified in "The Social Network" movie, to Tesla's Elon Musk, an immigrant who became a household name, to Google's Sergey Brin, whose internet search engine name has officially become a verb in English.

    So persuasive is the narrative of the entrepreneurial technological prowess and success, that many countries – including developing countries that feel they are lagging behind – develop comprehensive policies to support and promote entrepreneurship and even set aside sizeable funds to invest in startups via government-run venture capital programs. But is this fascination with and belief in entrepreneurs justified? How likely are entrepreneurs to push the technological frontier and bring about the kind of change that governments want? Entrepreneurship Professor Sergey Anokhin from Kent State University says the hard evidence is far less convincing than the popular culture makes you believe.

    The dark side of entrepreneurship

    In a study of 35 countries over a 7-year period, Professor Anokhin from Kent State and Professor Joakim Wincent from Sweden's Lulea University of Technology show that there is no universally positive relationship between entrepreneurship and innovation. While for the world's leading economies such as the United States the positive link between startup rates and innovation may be true, for the developing economies the relationship is actually negative. Such countries are more likely to see innovation championed by the existing companies, not startups. With few exceptions, entrepreneurs there pursue opportunities of a different kind that are based on imitation and dissemination of others' ideas, and are not equipped to produce truly advanced "grand" innovations. On average, startups are less efficient than existing firms. Accordingly, if local governments support entrepreneurship, economic effectiveness may suffer, and innovation is less likely to occur. In fact, successful technological development in emerging economies is often associated with an aggressive entrepreneurial behavior of large corporations, not individual entrepreneurs. Such is the case, for instance, of South Korea with its chaebols .

    The figure below shows the vastly different impact of startup rates on innovation and technological development (as measured by patent applications) across countries. Only rich countries can expect more entrepreneurship to result in more innovation, says Dr. Anokhin. For the lesser developed countries, as the plot demonstrates, an increase in startup rates will only lead to less, not more innovative activities. The problem, according to Sergey Anokhin, is that developing countries often look up to the leading economies when trying to design their own policies. Moreover, quite naturally, the very textbooks that the students across the world use, are written by the scholars from the world's leading countries, and do not take developing economies' context into account. Taken together, it often locks policy makers in assuming the relationship between entrepreneurship and innovation that will not hold in their particular parts of the world. The pro-entrepreneurship policies will not bring about the effects expected, and the limited resources will be wasted to support activities that are largely detrimental.

    What it all means

    It is time to recognize that the relationship between entrepreneurship and innovation varies across countries, says Professor Anokhin. That is why World Economic Forum's Global Agenda Council for Fostering Entrepreneurship explicitly acknowledges that Silicon Valley success stories do not necessarily resonate in other parts of the world. Broad-strokes policies that aim at fostering entrepreneurship to boost country innovativeness may well be misguided. A contingency approach that takes regional specifics into account should be employed instead.

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    Source by Sergey Ahmetov

    Views: 0

  • Sports Medicine

    Sports Medicine

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    Despite what the name implies, sports medicine is not confined to the athletic field. The branch of orthopedics consists of the treatment of injuries resulting from physical activity. These injuries can occur due to overuse, over-exertion, traumatic collision, or over-extension of the ligaments and cartilage of joints. Sports injuries can occur to any part of the body; however, the majority of sports injuries occur in the major joints, including the shoulder, hip, knee, and ankle.

    Minimally Invasive Rotator Cuff Surgery

    A common sports-associated injury of the shoulder is a rotator cuff tear. Composed of a group of four different muscles and tendons, the rotator cuff coordinates the movement of the arm at the shoulder. A tear of these muscles due to a traumatic impact, repetitive motion, or a strong pull may result in serious pain and the loss of mobility in the shoulder.

    Based on severity of the injury, a rotator cuff tear can be repaired through surgical or non-surgical methods. If pain is not relieved through non-surgical efforts and surgery is required, rotator cuff tears can be repaired through arthroscopic techniques. A minimally invasive procedure, arthroscopic surgery involves two small incisions for the insertion of a fiber-optic camera and specialized operating tools. Arthroscopic surgery usually results in the successful repair of the rotator cuff and an abbreviated and less painful recovery time.

    ACL Repair Surgery for Knee Pain

    A commonly performed sports medicine procedure is the repair of the anterior cruciate ligament (ACL) located within the knee. The ACL provides rotational stability to the knee and tears to the ligament occur due to over rotation, sudden changes in direction, landing incorrectly, or traumatic collision. Symptoms of an ACL tear include a 'popping' noise and the inability to put weight on the knee joint, followed by pain and swelling.
    Non-surgical treatment options are available after an ACL tear; however, a torn ACL will not heal on its own and surgery is necessary to return to an active lifestyle. Advances in knee surgery techniques now allow a torn ACL to be repaired through an arthroscopic procedure. Arthroscopic surgery techniques allow for a faster recovery time, although an athlete will require at least six months before returning to sports.

    Torn Meniscus Surgery for Knee Pain

    The meniscus consists of two pieces of cartilage located between the thigh bone and the shinbone that act as cushioning and 'shock absorbers' between the two bones. Sports-related meniscal tears result from excess stress on the knee joint from traumatic collision, squatting, or over rotation, and often accompanies other knee injuries, such as an ACL tear.

    Walking is still possible after a meniscal tear and athletes may continue to play through the injury. However, the knee will gradually become more stiff and swollen over a period of a few days. Non-surgical approaches to treatment include the RICE protocol of Rest, Ice, Compression, and Elevation. If the severity of the injury necessitates surgery, arthroscopic techniques utilizing a fiber-optic camera and miniature instruments will allow for the minimally invasive repair of the meniscus.

    Shin Splint Repair

    Shin splints are a common sports-related injury, as the condition results due to exercise-related overuse. Shin splints, or medial tibial stress syndrome, develop as repetitive, excessive physical activity causes muscle fatigue leading to extra force to be applied to the tissue attaching muscles to the shinbone.
    Shin splints are treated with rest and a refrain from physical activity. Rarely do shin splints require surgery; however, persistent pain may indicate the development of multiple microfractures in the tibia. Microfractures are severe and may require the evaluation of a physician.

    Achilles Tendon Repair Surgery

    The Achilles tendon is the largest tendon in the body and connects the muscles in the back of the lower leg to the heel bone. The Achilles tendon is essential to mobility as it is used to walk, run, and jump. Tears can occur when the Achilles tendon is overstretched and cannot withstand the large forces exerted on it during physical activity. Pain and swelling accompany an Achilles tendon tear, as well as the inability to bend the foot downward.

    Surgery is likely the only option to repair a completely torn Achilles tendon for patients who wish to return to sports. Surgically repaired Achilles tendons are more likely to return to near normal performance and less likely to be re-injured.

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    Source by Blake Nonweiler

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  • Boost Your Style Through Self-Confidence

    Boost Your Style Through Self-Confidence

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    Did you know that how you feel can impact what you wear? And did you know that confidence and clothes are connected? When you feel good on the inside it shows on the outside. And when you are not feeling a high level of self-confidence that can also show up on the outside.

    Your self-confidence can give your style strength. And that strength can cause things like, you to attract the right type of people in your life, you receiving a promotion on your job, you feeling successful, you feeling happier, and you feeling powerful. Interesting, isn’t it? Our confidence and our style play a huge role in our lives.

    You deserve to feel your best and look your best at all times. And that doesn’t mean you have to go out and spend a lot of money. It can simply mean boosting your confidence and “rocking” what you’ve got. Why? Because it’s more about what’s on the inside than what’s on the outside.

    And don’t be so preoccupied with what you are wearing. If you look good in it and feel good in it that’s all that matters. The truth is that regardless of what we wear we will never please everyone. Even the top models wearing the most expensive clothing face scrutiny. There are critical people everywhere. So you can’t live your life according to what others think or feel. You should live your life in alignment with your authenticity. And that includes your fashion personality. Your fashion statement is all about you and not others. So if you love color, print, and bold jewelry, then go for it!

    When you look in the mirror you should adore the person looking back at you. You should feel like that person is amazing, phenomenal, and fashionable. Don’t feel self-conscious about how you look, love yourself from the inside-out. And be confident in who you were born to be. Don’t focus on what you think is wrong with you, focus on all of the wonderful qualities you have. Those type of confidence boosters will help you shine bright. And true style is about being confident “in the skin you are in.”

    Your outer style is a reflection of your inner-image. So when you have a positive self-image you feel better and you can look better. Because what’s in your mind can show up on your body.

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    Source by Dr. Shauntel Peak-Jimenez, Ph.D

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  • Emotional Labour – Organisational Behaviour

    Emotional Labour – Organisational Behaviour

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    Abstract:

    Putting on a good show, keeping face, professionalism in customer treatment can all be examples of emotional labour. When in the workplace dealing with others whether they be colleagues or customers we tend to give a positive emotional response despite the negativity of the other person (customer complaint) or our own current mood state (sadness, irritability) known as emotional dissonance. In this paper we will explore the phenomenon of emotional labour and its effect on workers productivity and social relations. The general outcome being that the strain of that dissonance creates mental health problems in the workplace.

    Introduction:

    Emotional labour can be seen as the affect of the current mood of a worker whilst engaging in interactions with others – putting on a good face for example despite feeling emotionally uncomfortable. (1. Robins/Judge 2013) These emotions can be driven by organisational expectations of an employees behaviour towards customers, clients and co-workers in support of the business goals to profit. For example in the service industry, customer complaints should be handled with a polite professional smiling attitude so that the customer perceives that their complaints are receiving serious attention. Despite the fact the service provider (customer relations officer) maybe be in a personal bad mood, have life problems or employment concerns – all this is swept aside to provide the company’s public positive image to the customer. For the employee engaged in such activities the strain of appearing positive and enthusiastic may cause both physical and emotional strain often leading to further deterioration in mood after work and in between assignments. You could argue that a good deal of the time we are in fact faking our emotions (feelings) in front of and towards others to support social conventions for example being polite. If a customer’s complaint is unreasonable, they are showing anger, accusing the company or misleading them and selling shoddy products – the company service support worker must maintain control over their own emotions despite feeling that the customer is wrong and the complaint is unwarranted or even ridiculous they still have to maintain the company driven reaction to the customer with calm professionalism. (2. Myler – Case Studies 2018) Some companies make being happy at work almost mandatory – where staff entertain, create an atmosphere or encourage excitement over the product and its associated feelings of happiness. For example, theme park staff forced to smile all day – try it yourself – it is very stressful to keep a happy demeanor in the face of disgruntled visitors waiting hours in a queue for a five minute ride or the phone shop worker being asked to entertain the queue of waiting customers with hi-fives and silly games. (3. Grandey et.al. 2010) Many customers in fact reporting discomfort at being targeted for unwanted attention and interaction). Therefore there is a difference between felt emotions (what I am actually thinking and feeling) than with displayed emotions (what is expected of me). After an interaction the employee can feel both exhausted by the forced situation and emotionally angry at faking their feelings for the benefit of others. Many people who suffer from depression report that faking happiness is the biggest strain of the day.

    Culture and Emotional Labour

    Culture may impact on how someone sees emotional labour as the expectations of others in the light of social comparison. (4. Matsumoto etal. 2009) For example many American service jobs, such as retail staff, service providers and customer interaction workers all feel that a positive upbeat smiling enthusiastic person is a definite requirement for the companies image management. The monocor – have a nice day – often rings false in the ears of those who understand this is not a genuine sentiment but a practiced social grace. In other cultures such as Japan or Asia in general – forced politeness or deference to not displaying emotions may in fact cause particular strain on everyday life where displaced emotion can be seen in acts of violence and sexual deviance. The French tend to not display openness in dealing with customers but in fact a non-smiling or even impolite attitudes towards their clients. This can cause companies dealing in global markets problems with staff in having to adapt and understand policy in line with the cultural underlying expectations of behaviour.

    Mental Health

    Many psychologists, counsellors and others such as nurses encounter patients (clients) who maybe presenting mental health problems such as anxiety (worry about future events) or depression (living with the past) that report difficulties in the work place in faking their emotions towards both colleagues and customers – that they feel the strain of the day at home later through irritability, sexual indifference a lack of appetite and sleep. Keeping up appearances at work therefore effects the very quality of our lives both in and out of the work place. (5. Myler Case Studies 2018) Dealing with difficult people whether customers or colleagues leaves us feeling exhausted physically and mentally. In therapy the psychologist maybe searching for psycho-dynamic reasons for the negative feelings from past patterns of behaviour and often miss the power of the here and now effect of faking your feelings at work simply due to enforced company policies that require us to present an image of well- being and happiness that actually is not there. Treatment therefore should focus on workplace stress rather than personal history.

    Role Play & Emotional Labour:

    Of course we are schooled from an early age in how to act given certain social situations, for example being happy at a birthday party ( don’t spoil it for everyone) to look sad at the funeral (even when we did not even like the deceased). We have learned behavior for situational displays of affect. Have you ever been told off – criticised – looked at the person with a smile on your face – and they say, “what are you smiling at?” they think you are not taking them seriously enough, acknowledging their concerns – the truth maybe that we think their remarks are unwarranted and silly – however our learned correct response is to – look serious and be intently listening – while all the time inside feeling what an idiot this person is! In other words we are often asked to fake it – for the sake of the other persons feelings – this is often seen as high empathy when in fact it is more often just a learned reaction to a situational event. Emotional intelligence is seen a as a panacea for management effectiveness but maybe little more than learned responses to situations, rather than a genuine cognitive response to some event. In other words emotional intelligence maybe more pop psychology than a fact. Measurement for emotional understanding may reflect no more about the learned response to given situations we have come to understand through cultural, generational and traditional customs of our community or group behaviour. Psychometric tests for emotional intelligence may in fact be invalid and not robust enough to provide any useful measure of a persons feelings towards others but in fact reflect that learned behaviour – what should be the response not what I actually feel inside.

    Attributions Theory – Misunderstanding Others:

    Attribution theory ( 6. Heider – 1958) suggests that we attend to what we see more than what we know. In other words – we do in fact judge a book by its cover. So if we are busy faking our emotions so must everyone else? So how do we know that the mood being displayed to us is genuine or faked. We pride ourselves on being able to know others feeling by their facial expressions, there seemingly genuineness and authentic sounding responses. In fact much of the time we maybe reacting to the faked emotion rather than the real one. We are often surprised to hear someone committed suicide – we may say – they always seemed so positive and happy looking – but that is exactly what a mis-attribution is – the lack of skills to identify a real emotion from a faked one – we are actually quite good at emotional labour at work and so do we really know what anyone is actually feeling, as opposed to what they are displaying to us. So the helpful shop assistant may in fact be bored rigid at having to seem enthusiastic about a product she has already spoken about ten times that day already.

    In Summery:

    Emotional labour is a situation where the employee expresses the companies desired response to a given situation. Emotional dissonance are our feeling of confusion between our internal feelings and the face we put upon the situation given company policy towards others. Felt emotions therefore being what we actually feel as opposed to displayed emotion being the faked response to another person. Finally emotional intelligence being no more than learned responses to events as we behave given the situation we find ourselves in. The consequences of faked emotions can be strain leading to emotional exhaustion that has both physical and emotional outcomes for mental health and general well-being. Judging others may in fact lead to mis-attributions where we think the faked emotion is in fact the real feelings of the other party.

    To be honest, open and authentic would be real intimacy in our relationships but carries the high risk of rejection and misunderstandings.

    References:

    1. Robins S.P. Judge T.A. 2013 – Organizational Behavior 15Ed Pearson Publishing

    2. Myler S.F. 2018 – Myler Case Studies 2018/19 Unpublished

    3. Grandey A. et.al. 2010 – Work in the Global Services Economy – Journal of Service Management.

    4. Matsumoto D. 2009 – Culture & Emotional Expression – New York, Taylor & Francis publishing.

    5. Myler S. F. 2019 – Myler Case Studies 2019 Unpublished

    6. Heider F 1958 – Attribution Theory – Oxford Dictionary of Psychology 2001

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    Source by Stephen F. Myler

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  • Reiki Healing Can Ease Your Pain

    Reiki Healing Can Ease Your Pain

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    I was looking through a newspaper the other day and one thing that caught my eye was an article about the opioid crises. In this article, addiction specialist Dr Robert Lefever, spoke about how so many people are hooked on drugs that are designed to take pain away.

    When this happens, someone will end up taking them for years instead of a matter of days or weeks. He didn’t blame the drugs companies, though; he pointed the finger at the doctors that are happy to keep prescribing them.

    A Powerful Figure

    In the western world, a doctor is often perceived as an all-powerful, all-knowing figure. Therefore, if a doctor tells someone to do something, it is unlikely that they will question what they are being told.

    The fact that is has come out of this persons mouth can be seen as a sign that it is the right thing to do. Thus, if someone is in a bad way and a doctor prescribes then more pills, pills that are designed to take their pain away, why would they bat an eyelid?

    Another Part

    When it comes to drugs or even healing modalities, the placebo effect is often spoken about. Quite simply, this relates to the effect that one’s mind has when it comes to the impact that a drug or healing modality has on them.

    In other words, what they take or what is done to them is not the only factor involved in the healing process. The way that their mind perceives what they are given or what is done will also play a part in how effective something is.

    The Connection

    So due to how one perceives their doctor, this person can also play a part in what effect something will have on them. Someone can then find that they feel better simply for being in their presence.

    And, if this person was to give them a load of sugar pills but told one that they were powerful pain killers, they might find that they feel better after they have taken them for a while. It could be said that the placebo effect is always at work and this is because the mind can’t be cast aside.

    A Number of Solutions

    This doctor didn’t just talk about on what is not right or say that doctors need to change their approach, he also spoke about a number of other options that should be offered instead. There was acupuncture, transcutaneous nerve stimulation (TNS), and Reiki.

    I was familiar with the first thing, hadn’t heard of the second thing, and had experienced the benefits of the last thing. From my own experience, I can say that Reiki can be used to take pain away and to heal the body.

    A Real Example

    A little while ago, I had a minor operation and once the anaesthetic wore off, I experienced a fair amount of pain. Fortunately, I had learnt Reiki healing many, many years ago and was able to use this healing technique on myself.

    I placed my hands on the area where I felt pain and my hands soon felt incredibly warm. I did this for about half an hour and from that moment onwards, the pain was not as strong as it once was.

    It’s not a Magic Wand

    I continued to use Reiki on this area for a number of days and for the same amount of time each time, which caused the pain to diminish even more. It was then not that I did it once and then everything was fine – I was consistent with it.

    In the same way that a pill needs to be taken on a regular basis to work, Reiki healing also needs to be experienced on a regular basis to have a big impact. That is, of course, unless it doesn’t, and one or a few sessions is enough.

    Final Thoughts

    After reading this you may believe that Reiki healing can assist you and be open to giving it a go or you may be sceptical. If you are sceptical, I can relate to what you are experiencing as I can also be very sceptical.

    However, the best thing may be for you to give it a go and to see what happens. If you are in pain, and this pain has been with you for a while, it must surely be worth a go?

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    Source by Oliver JR Cooper

    Views: 0

  • Why Customer Concentration Impacts a Business Sale Transaction

    Why Customer Concentration Impacts a Business Sale Transaction

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    Few owners recognize the major impact that customer concentration has on the sale of their business. Customer concentration represents a significant obstacle and will affect the salability, valuation, and deal structure of a business-for-sale transaction. Not only will it create problems in qualifying buyers but it will impact the ability for any prospective purchaser to obtain third party financing to complete the acquisition. Determining if customer concentration is present in an enterprise is a critical element of the succession planning process.

    Customer concentration is a situation when one customer represents a significant portion of revenues or when the business has a very small customer base. Based upon the expert one consults, the exact percentage for a concentration to exist varies. In most cases it is recognized when one customer represents more than 10% of sales or when the top five customers comprise greater than 25% of a company’s revenue. In either situation, a huge risk is created from the lack of diversification and steps to mitigate it should be taken years in advance of a planned business exit.

    When evaluating a business sale it is important for an owner to recognize that their client base has a significant impact on the enterprise value of the company. A broad and diverse base of customers where there are a large number of clients contributing to the business’ revenue will achieve a higher transaction value as it reduces the risk that a sizable decrease in earnings will occur if any one customer is lost or a particular industry segment that the business serves encounters economic distress.

    In addition to a lower sales price, businesses with customer concentration issues are more difficult to market for sale. For main street business transactions (those with adjusted earnings of less than $2mm) third party financing is used in the majority of cases. Businesses with high levels of customer concentration are very difficult to get financed. Lenders may provide only partial financing, offer sub-optimal terms, or decline the loan altogether. In situations where third party financing is not available, the pool of available buyers is significantly restricted and the terms of a deal could be heavily weighted on a contingent earn-out based on retaining the revenues derived by the largest customers. “Typically we want no customer concentration over a 10% level when considering financing an acquisition. Higher levels are possible with much more explanation and supporting documentation but remain a major concern” states Steve Mariani, President of Diamond Financial Services.

    Lastly, customer concentration will have a direct impact on the deal structure for the business sale transaction. Buyers will strive to bridge the customer concentration risk through a variety of delayed ‘performance based’ financing methods. For example: Assume both parties agree on a transaction price of $900,000 based upon $300,000 of adjusted earnings (a 3x multiple). If the key account in question represents $75,000 of the $300,000 this would represent $225,000 of the transaction price. A buyer will strive to isolate the $225,000 component to ensure that revenue is maintained post sale. After a period of 12 months, if the customer and income are still in place the seller would receive the funds. If the identified client and corresponding revenue was lost during this period, a pricing adjustment would be made.

    In situations where the buyer is unable to obtain transaction financing due to customer concentration issues, the seller might have to accept a “contingent earn-out” for the revenues derived from the largest customers, or worse, they may also have to finance a major portion of the “non-contingent purchase price” negotiated with buyers.

    Contingent payouts could be structured in a variety of methods:

    Earn-Out:

    Earmark part of the purchase price with payments made over a period of time contingent upon the retention of specific customers or achieving specific revenue targets.

    Escrow:

    A percentage of the acquisition price will be held in an escrow account for a specified time.

    Seller-Financing:

    The seller would be responsible for financing a major portion of the purchase price through a seller note. The seller note could be structured with contingencies for revenues derived from the largest customers.

    With any of these deal structuring techniques, the seller cannot be expected to guarantee the revenue in perpetuity and if the transaction price is based upon retaining one or more key customers, the seller may require more active involvement in maintaining the client relationship during the term of the agreement. Obviously, this brings an additional complexity to the transaction.

    In most cases, buyers will look to discount the amount they are willing to pay for a business (with high customer concentration) unless they receive assurances that the risk is low. While the obvious strategy to reduce customer concentration risk is to diversify and increase the business customer base, there are a number of situations where customer concentration either does not pose a significant risk or could be mitigated.

    Customer Contracts:

    Having a contract in place will not eliminate all of the risk of losing a key customer, but it will provide the buyer with security that the revenue and profits will continue after a change in ownership takes place. When customer contracts are involved, the ability to assign or transfer will be important to understand. In many cases, a stock sale vs. asset sale is elected to preserve these contracts.

    Barriers to Entry or Exit:

    Businesses could have intellectual property, product expertise, or patents that create competitive advantages barring competition. Others are located in geographically remote areas where the supply benefits discourage customers from changing the relationship. Lastly, there could be significant capital requirements for manufacturing and tooling or agency approvals (pharmaceutical or government contracting industry) that creates a barrier to entry from potential competitors.

    Providing a Variety of Products and/or Services:

    Having a broad relationship with a key customer where the relationship is not based solely on one product, one location, and one individual decreases the risk that a singular change will fundamentally impact the future revenue stream and continuity of the account.

    Economies of Scale or Synergies:

    The acquisition may be pursued by a strategic buyer where they are bringing new products/services to the enterprise, a broader geographic distribution footprint, or economies of scale in production. Any of these elements would assist in reducing the concentration of revenue risk that an identified key client would represent to the future organization.

    Summary

    Businesses which have high levels of customer concentration are inherently risky and it is important for the owner to appreciate this concern from the perspective of a potential acquirer. Ultimately, the buyer seeks only to retain the customers which have contributed to the success of the business and are factored in the valuation and transaction price. From the position of a buyer a few logical questions and concerns would be:

    1. How does the value of the company change if a customer representing 10% or more of revenue and/or profits is lost in the first year?
    2. How easy would it be for the client representing the customer concentration concern to leave the business?
    3. What unique situations exist within the business to preserve the customer relationship in the years ahead?
    4. What are the logical steps and corresponding costs to mitigate the customer concentration risk?
    5. How do I achieve a win-win transaction? Protecting me, the buyer, against the risk of a near term revenue loss while providing the seller with the proper remuneration for the fair market value of their business?

    While the risk may not be able to be totally eliminated, there are a number of situations where customer concentration is more palatable and a proper explanation should be provided to the buyer at the earliest opportunity. Getting out in front of this potential challenge is critical to achieve a win-win deal. When good communication exists, and two fair and reasonable parties are at the table, there are a number of structuring options available, when necessary, to mitigate the risk and negotiate a fair and reasonable transaction price. Obviously, the best approach for a prospective business seller would be to develop and implement plans to reduce any customer concentration elements years in advance of a business exit. Eliminating this type of risk is just sound advice for any small business owner regardless of whether a sale is contemplated.

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    Source by Michael Fekkes

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  • How Excessive Exercise Might Negatively Affect Your Health

    How Excessive Exercise Might Negatively Affect Your Health

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    A great deal of people engage in cardiovascular and several other activities primarily in order to lose weight. Then again, carrying out excessive workouts of any kind could cause the body to begin reacting in a negative way. This brings to memory the proverb that says – too much of anything is bad. And workout is no exception here.

    Training is a great thing and it would appear that training even more ought to provide a lot more benefits. In the truest sense, it really does give a little extra gains, until it is taken just a little bit too far. At this juncture, your body may start responding otherwise.

    This is correct besides the fact that training is acknowledged to be more of a “healthy stress.” However, your adrenal glands are unable make a distinction between them.

    Stress and Cortisol

    Excessive physical exercise induces a hormone called cortisol. This hormone tells your body to hang onto its fat stores. The body secretes cortisol anytime it is under any sort of tension.

    The stress might be from the school, place of work, unhealthy eating, too little sleep, family issues, and a number of other things. They can easily stress your body and cause it to release cortisol. The regrettable thing is that the body also looks at physical fitness as a stressor.

    Consequence of Excessive Physical Exercise

    If you push the body way too hard for a long time it may result in higher cortisol levels, adrenal fatigue, and even elevated food cravings.

    Stress, regardless of its source, has a way of influencing neurotransmitters. These neurotransmitters, including dopamine, GABA, and serotonin, are our feel-good, anti-anxiety brain chemicals. Stress and excessive extreme training reduces the quantities of these types of neurotransmitters. This usually brings about debilitating weariness, sleep disorders and also depressive disorders.

    Continually high amounts of cortisol may have detrimental impact on fat loss. It could also raise your associated risk of a range of health issues.

    Female Athlete Triad

    For the women, excessive physical exercise can equally result in the “female athlete triad”. This is a condition of, the likely stoppage of her menstruation, eating problems, and brittle bones or bone mineral loss. A mixture of workout and calorie restriction typically leads to these kinds of symptoms.

    Decreased Immune Effectiveness

    Moderate physical fitness helps to enhance your body’s immune system whereas too much physical exercise tends to suppress it. Excessive workout raises the body’s exposure to infections. Likewise, there is the elevated seriousness of minor infections and also the decreased production of immunoglobulins.

    Decrease of Testosterone

    Also, it is a reality that cortisol and testosterone clash with each other. Testosterone is important for the development and preservation of skeletal muscle, bone, and red blood cells. They equally assist in weight reduction as they are very metabolically active.

    Workout depth (which is over 50% of maximal oxygen intake) of extended period sets off the sympathetic nervous system and results in cortisol overproduction. On the flip side, this stops the discharge of testosterone.

    The reduced testosterone, for males, could easily cause decrease in libido. This might however be a combined consequence of both bodily exhaustion as well as the reduced testosterone levels.

    In the event that you have been working out too much, the very first course of action is for you to truthfully recognize and acknowledge this reality. You have to admit to yourself that you are really struggling with this problem.

    One other idea that may assist you to cut back on the amount of your training routines will be to stick to a training schedule. This schedule should vary your exercise load and equally incorporate obligatory rest periods.

    Nevertheless, it will be necessary to seek help from a healthcare professional for the treatment of both the psychological and physical symptoms.

    On the other hand, this is not suggesting that you should give up on performing exercises but rather that you have to get the right amount.

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    Source by Marcus J Michael

    Views: 0

  • Starting a Woodworking Business With Little or No Related Experience Will Require a Proven Plan

    Starting a Woodworking Business With Little or No Related Experience Will Require a Proven Plan

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    If you have little or no woodworking experience it is possible to start a profitable business in this trade. There are guides available on the internet that will give you step-by-step instructions on how to start-up such a business.

    To start your woodworking business you will need a materials list that help you access wood and tools from local sources. These materials and tools will have to be affordable and of good quality. Having a resource to guide you with this challenge will help you save time and money. Materials that you will need, do not have to be from the local hardware store. Some of these materials can be found at a garage sale. I know a person who found a pile of two-by-fours that a home owner left on his curb. This wood was pine. He made this pile of discarded pine into a picnic table and sold it for $250.

    There are a number of steps to consider when starting a woodworking business. The key to starting such a business requires a proven plan. You need to know what types of products to build and will give you consistent sales. The types of woodworking project you get involved in will be determined by the area you live in. Oe course knowing what your potential customers needs are will go along way with regards to making sales.

    How to build these woodworking projects, in a timely and cost-effective way, will while require that you master certain woodworking skills. Of course you will need to learn which types of tools to purchase that will make constructing these various woodworking project in the most efficient manner

    This knowledge of how to use these various tools can be found on the internet. These various tools need to be used with safety in mind, Various tools you will to learn how to use complete you woodworking projects can cause serious hard to your body if used in a safe manner. A proven woodworking resource will teach how to use these tools in a safe manner

    These tools will be critical in completing these various projects in a timely and cost-effective manner. Such tools will include a circular saw, chisel, hammer, drill, various drill bits, impact driver and even a miter saw. Of course you will need a place to work such a backyard shed.

    Of course you will have to consider what types of wood you will be using to construct your woodworking project. Certain types of wood are more to certain projects than others. Good woodworking plan will help you to make the best choices with regards to this.

    Whatever woodworking project you decide to start your business with, will require some planning. Having a proven woodworking plan to start this endeavour would be a good step.

    Best Regards

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    Source by Paul Luciw

    Views: 0

  • An Insight Into the Different Sectors of the Healthcare Industry

    An Insight Into the Different Sectors of the Healthcare Industry

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    Health has always been one of the major factors determining the growth magnitudes of the economy of any country. The margin between a developing and a developed country is often drawn based on the progress in the fields of healthcare. A strong healthcare sector refers to a lower death rate and a higher level of life expectancy, which largely influences the growth and development of any economy. Hence, it is critical that a country takes good care of its healthcare sector to cater to its populace in an effective manner and to contribute to the country’s growth index in a positive way.

    As far as India is concerned, it has one of the largest and most diverse population frame comprising of individuals belonging to different social and economic conditions. To cater to the multiple needs arising out of the diverse living conditions in India, we have a healthcare sector that upholds a bunch of services ensuring good health and effective prevention. Though if we segregate the sector based on its functioning, you will find a lot of distinct sectors attached to the main industry. However, if we take a brief insight into the broad categories that serve as the backbone to the industry, we would have four major domains as described in the article below.

    Hospital Services and Facilities

    Hospitals are the primary lifeline of the health sector and the core of the health industry. Comprising of general medical hospitals, surgical hospitals, substance abuse and psychiatric hospitals, specialty hospitals, hospices and palliative care centers, family planning and abortion clinics, emergency and other outpatient care centers, dental laboratories, blood and organ banks, sleep disorder clinics, and more, hospitals form a long chain that binds the entire landscape together in terms of serving health to the people. There are residential and nursing care facilities available as well. Nursing, supervisory, residential care are some of the services that are available through this vertical. The other facilities extended through the hospital services are Urgent Care Centers, In-Home Senior Care, Mental Health and Residential Developmental Handicap Facilities, Community Care for the elderly, and so on. Besides, since it is critical that patients receive ambulance services in time, there are direct and indirect services available for ambulatory patients as well. The outpatient care centers, diagnostic centers, hospitals, and some private players in the field also provide this facility to guarantee uninterrupted health service.

    Healthcare Equipment and Diagnostic Tools

    The present-day advancement in science and technology has rendered the healthcare industry with some of the most innovative and effective equipment and processes to diagnose and treat the ailments as critical as cellular malignancy. There are multiple companies who cater to the rising demand of this equipment. In-Vitro diagnostic substances, ophthalmic goods, surgical appliances and supplies, Mammography Machine, Robotic Surgery Equipment, Venous Access Device, and Glucose Meter are some of the examples that help the healthcare professionals in treating and detecting the diseases in a streamlined manner. To manufacture and supply these, there is a huge industry involved that ensures smooth operations and timely delivery of the equipment and tools.

    Medical/Health Insurance

    Apart from the direct health care industry, there are services attached to it that render value to its being. Medical insurance and other organizations that back up the entire process of operations for the healthcare industry have a major impact on the existence and growth of this industry. With active participation and spontaneous service, medical insurance has become primary support for the majority of the treatments that involve considerable expenses. With facilities like TPA and cashless treatments, the patients can now enjoy a hassle-free treatment at best-facilitated hospitals.

    Pharmaceuticals Sector

    The pharmaceutical industry manufactures, markets, and innovates licensed drugs that are effective and integral for better healthcare facilities. This is a huge sector employing a large percentage of population to cater to the market requirements. From drug wholesalers to over the counter stores, the pharmaceutical industry is a major player in this domain. With the rise in the health consciousness in the general public, nutritional supplements have also taken a major share of the healthcare industry, which are again the products of the pharmaceutical sector only.

    As the days have walked into modern times, the increasing level of dependency on technology along with the rising pollution levels have worked to make the diseases even more complicated and varied. Hence, it is imperative that there exists an equally strong healthcare sector guiding the mass to cure. With government interventions and private sector initiatives, the number of hospitals has increased over the years catering to a larger crowd. The other sectors like pharma, insurance, and medical equipment have also grown in parallel to support this emerging sector in every possible way. Covering a large landscape encompassing villages as well as the urban corners of the country, the healthcare sector promises high to keep up with the upcoming challenges and demands of the time.

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    Source by Alok Mishra

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  • How Can Poor Customer Service Affect A Business

    How Can Poor Customer Service Affect A Business

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    Today, potential customers have wider choices than ever in making a purchase. It’s easier to compare services. With visible online reviews and customer engagement in a variety of channels, your company’s performance is under scrutiny. Clients and prospects have no problem switching over to a competitor if they consider them fit.

    It’s more expensive to get a new customer than to keep an existing one, so customer retention is crucial for business success. And customer service has a drastic impact on customer retention. 89% of customers have stopped doing business with a firm after a bad experience and 58% will never deal with that firm again.

    Loss of Business and Returning Customers

    No matter how great your products are, if you don’t meet the service expectations of your clients, they’ll never be happy with what you’re offering them. Not listening to your customers and ignoring their needs will not just annoy them, but it will also make them leave your company. If your customer service is poor, you’ll have poor customer retention rates and you’ll never meet your business goals.

    Bad Reviews Online

    If you don’t take your customer’s complaints seriously and you don’t resolve those issues immediately and sincerely, you’ll lose customers and this will impact your company’s reputation. Most of the customers will reveal the truth about your poor customer service on social media platforms like Facebook, Instagram, and Twitter. Negative comments and bad reviews spread quickly across social media and this will affect your reputation and your business’s goals.

    New Customers Stay Away

    New customers seek companies based on recommendations from people they know, and they’ll avoid a company when they hear first-hand accounts of poor customer service. People give more weight to negative reports than positive reports and they believe first-hand experience from their friends and family more than they believe impersonal sources such as advertising.

    So if your customer service is poor, prospective clients may find your business but they’ll choose what your competitors offer.

    Employees Leave

    Employees know when things are not right in the company they work for. If they see frequent occurrences of poor customer service, they’ll start looking for opportunities with other companies. This is because dealing with dissatisfied customers makes their jobs hard and it makes the working environment toxic.

    Management that doesn’t treat its customers well probably doesn’t care about the well-being of its employees either. High staff turnover tarnishes a company’s name. It creates more costs because of the increased need for recruiting, hiring and training of new employees.

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    Source by Jon Allo

    Views: 0