Adapting to Workforce Challenges: How WM and Goodwill Innovate to Stay Competitive

WM (Waste Management): CEO Jim Fish is addressing labor shortages by investing $3 billion in recycling infrastructure and technology. They’re rebuilding plants to reduce employee needs, as finding truck drivers is challenging and expensive. This strategy helps WM compete by adapting to changing workforce preferences and reducing labor costs.

Goodwill Industries International: CEO Steve Preston is competing with well-funded for-profit businesses by expanding both brick-and-mortar and online presence. This creates a complex ecosystem connecting buyers and sellers of recycled goods, opening new growth opportunities. Goodwill’s strategy shows how non-profits can adapt to compete in a changing market.

By John Kell | SEP 23, 2024
Read the original article at FORTUNE

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Building a Global Business from Scratch: Key Lessons for Success

ENTREPRENEUR – With just $2,000, an entrepreneur launched a business that grew globally. He emphasizes the importance of starting with a clear vision and being adaptable. Early struggles included funding challenges and scaling issues, but persistence and smart financial management helped. Networking and strong relationships were crucial in expanding the business. He also highlights the need to focus on customer satisfaction and continuously improve products. These strategies helped transform a small startup into a successful global enterprise.

By AMANDA BREEN | JUL 15, 2024
Read the original article at ENTREPRENEUR

Mastering AI Compliance: Essential Steps for Mid-Sized Companies

1. Ensure AI Transparency and Ethics: Make sure your AI systems are clear and honest. For example, if using AI in customer service, inform customers they are speaking to an AI and explain data use. This builds trust and meets regulations.

2. Implement Robust Compliance Measures: Categorize AI systems by risk level. For instance, if using AI for recruitment, regularly test for fairness and provide clear decision-making info. This prevents bias and maintains trust.

By Benjamin Laker | AUG 1, 2024
Read the original article at FORBES

Maverick Moves: Lessons from Soros’ Misstep and a Sports Venture Triumph

In the 1987 bull market, investor George Soros boldly predicted a downturn in the Nikkei and growth in the S&P 500, positioning his stocks accordingly. However, the opposite occurred, leading to significant losses. This case shows mid-sized company CEOs the importance of balancing bold strategies with risk management and not blindly going against market trends.

An entrepreneur, passionate about sports, invested in a sports management business despite limited industry experience. Despite ups and downs, the venture resulted in a successful exit after 10 years. This case demonstrates how following personal passions, even without expertise, can lead to long-term success for mid-sized company leaders willing to take calculated risks.

By Jon Michail | SEP 16, 2024
Read the original article at ENTREPRENEUR

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