As I approach the end of my first set of university courses, I’ve learned that number of hours spent working doesn’t always correlate with the amount of work completed. With this in mind, Vivian Ho’s blog post entitled “Work Hours Versus Work Efficiency” especially caught my eye. The blog explored the dilemma outlined in a New York Times article that many law firms are facing. Due to the fact that employees are paid per hour as opposed to per case, the employees’ productivity is lower.

The Academy of Management Executive article, ‘On the folly of rewarding A, while hoping for B‘, explains the problem. While law firm management hopes to have as many cases solved as possible, they are ultimately rewarding their employees for the number of hours spent on a case. There is a lack of incentive for employees to work harder on each case and be more efficient.
As Vivian correctly suggested in her blog, it would be a good idea to pay employees per case. It’s important to make sure that employees are rewarded for activities that bring the company closer to reaching its goals. Hoping for one outcome but rewarding another leads to inefficient workers.

As a young student, one of the best ways to impress future employees is through valuable experience gained through internships.  It’s a great way to experience the working world by offering your services to companies who are in need of fresh, ready-to-learn students. Unfortunately, there are occasional concerns that interns are taken advantage of. There are some accusations that companies abuse the cheaper, and maybe even free, labour. A recent article in the Globe and Mail explores this debate and shows why interns are valuable for companies. The story of Just-Eat Canada’s internship programs outlines why treating interns the right way leads to benefits for all involved. The following video gives a greater understanding of Just-Eat’s opportunities as an intern.

Through seeing the enthusiasm of Just-Eat interns and reading about companies like Zappos, it is clear that culture within a company is a very important component of success. Many of the most successful companies, like Google, warrant their success to a great sense of community among their employees. The company’s togetherness is something that must stretch from the most powerful in the organization to those who have just started. This basic Organizational Behaviour knowledge shows that treating interns the right way will have positive impacts on the company as a whole. A recent article in The Globe and Mail provides further proof of this concept.

At Just-Eat, interns are given the responsibility that an fully paid employee would. They are challenged to execute the ideas that they propose. As many interns go on to become full-time employees, establishing the right relationship with interns is crucial to building a healthy team environment within a business.

I came across Stephen Gates’ blog rather by accident. As I was researching how to be creative when making presentations, I read a post called Presenting Creative 101. The lesson was split into three parts and each provided valuable tips and suggestions on how to improve presentation skills. Along the path through a business education and career, presentations will become more and more frequent. Learning how to captivate an audience and effectively present is a fundamental skill. I highly recommend the post to any student who wishes to become a better presenter.

Although the specific post attracted me initially, I soon started exploring the rest of Gates’ blog. Gates is a brand designer and creative mind that works in the world of marketing. His blog posts reflect his career and he often offers interesting opinions. His “My Weekly Inspirations” section offers links to some really fascinating stories from the past week. Stephen Gates’ blog is an good read for anyone interesting in marketing.

Supply chain management is a procedure that can be very beneficial for a company. However, the recent Hurricane Sandy highlights the need for businesses to ensure their supply can survive unpredictable events.
The New York Times article shows that many businesses in New York and New Jersey are facing a bleak fourth quarter due to the effects of Sandy. Road closures have prevented the transportation and delivery of goods, while flooded warehouses have resulted in a loss of merchandise for many companies. As businesses are entering their peak season due to Christmas orders, this is a problem that will be hard and almost impossible to overcome.

The events in New York bring forth a lesson that can be learned about supply chain management. It is often understood that keeping a large inventory of goods is not advised due to the possible changes in demand. Hurricane Sandy adds another reason to avoid a large backup of goods. Companies with weeks of supply stored in a single warehouse have loss an enormous amount of money due to a single natural disaster. The companies with a smaller inventory turnover will have avoided the magnitude of losses.
Many companies will be heavily impacted by Hurricane Sandy due to the effect that it has had on the supply chain. The impact further emphasizes the positives of short distribution channels and lower inventory turnovers in an unpredictable world.

A vital characteristic that a business needs is adaptability. Anyone familiar with the stories of Kodak and Blockbuster will easily be able to see why the ability to modify a company is so necessary. As technology advances and consumer preferences change, the need and attractiveness of companies inevitably fade unless change is instated.

A recent article shows how one brand is evolving.
Newsweek, 79-year-old news magazine, is combatting the faltering popularity of print media by switching to solely online publication. Annual losses in recent years left Newsweek with a bleak future. With tablet and smartphone apps being more popular than ever, the strategic change to become completely digital could prove to be a great decision. Also, by eliminating the printed versions of Newsweek, production costs are being dramatically cut.

The question lies in whether or not consumers will make the transition into purely digital news. Like the many suggestions that books will eventually die out and be replaced by eBooks, the same can be offered to explain the future of newspapers and magazines. As this transition takes place, it is important for news providers to ensure that the strategic change is implemented properly.