AI Competency for Business Leaders: Essential Skills for the Future

FORBES – A Freshworks study found that 40% of employees believe IT leads AI efforts, compared to 23% who think business leaders do. This highlights the need for business leaders to take charge of AI integration. Business leaders must enhance their competency in AI technologies, although AI is often left to IT departments, to ensure that their employees develop new skills for the AI-driven business environment. This involves implementing mentorship programs, focusing on ethics, and building a community of AI-driven leaders within the organization.

By Sherzod Odilov | JUL 14, 2024
Read the original article at FORBES

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Managing Economic Challenges: Smart Pricing and Client Trust Strategies

1. Strategically Raise Prices: Increase prices to cover rising costs, starting with loyal clients. For example, if energy costs rise, explain to long-term clients why their fees are increasing, showing how you continue to add value to their business.

2. Build Client Trust: Maintain transparency about price increases by communicating clearly and demonstrating the benefits. For instance, sending an email detailing the reasons behind a price hike can help clients understand and accept the change.

By Peter Boolkah | JUL 31, 2024
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Avoiding Leadership Pitfalls: Key Strategies for Maintaining Effective Leadership

HBR – Leaders must navigate power dynamics carefully to maintain effectiveness and integrity. Common traps include overconfidence, isolation from feedback, and becoming too controlling. To avoid these pitfalls, leaders should foster open communication, encourage dissenting opinions, and remain grounded in their values. Delegating effectively and staying connected to their team’s experiences can help leaders retain perspective and adaptability. Emphasizing continuous learning and humility ensures leaders do not become complacent or detached from their organization’s needs.

By Julie Diamond, Lisa Zigarmi, and Lesli Mones | JUN 13, 2024

Read the original article at Harvard Business Review

Zoho Introduces CRM to Enhance Cross-Functional Collaboration Across All Teams Within a Company

Smallbiztrends – JUN 5 – Zoho has launched a new version of its customer relationship management (CRM) software, targeting small businesses and entrepreneurs. The update comes with an easy-to-use interface and affordable pricing, making CRM accessible to a wider audience. It offers features such as sales force automation, marketing automation, and customer support to help businesses streamline their operations and improve customer interactions. With this development, Zoho aims to democratize CRM, enabling small businesses to leverage the benefits of CRM tools for better management and growth.

By Joshua Sophy | JUN 5, 2024

Read the original article on Small Business TRENDS

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