1. Patagonia focused on repairing and reusing clothes rather than pushing new sales, appealing to eco-conscious consumers and turning a potential weakness into a brand strength.
2. In-N-Out Burger kept its menu simple and refused to franchise widely, maintaining quality and customer loyalty even against giant fast-food chains.
By Chris Kille | AUG 12, 2024
Read the original article at ENTREPRENEUR
1. Build a Strong Company Culture: Focus on defining your company’s mission, vision, and values to attract employees who align with them. For example, a mid-size company sets clear values of teamwork and innovation. This attracts candidates who are passionate about collaboration and creativity, leading to a cohesive and driven team.
2. Identify Key Competencies and Offer Attractive Benefits: For example, a company needs adaptable and innovative employees. They offer flexible hours and career development opportunities, attracting candidates who thrive in dynamic environments and are eager to grow.
By Sergii Malomuzh | JUL 26, 2024
Read the original article at ENTREPRENEUR
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NYTIMES – JUN 10 – Corporate firms are reexamining the concept of meritocracy, recognizing its potential pitfalls and biases. Leaders are finding that merit-based systems often overlook diverse talent and perpetuate inequality. To address this, companies are implementing more inclusive practices, such as blind recruitment processes and diverse hiring panels. Emphasizing holistic evaluations, they consider a wider range of skills and experiences. This shift aims to create a fairer, more equitable workplace, ultimately fostering innovation and improving business outcomes by leveraging diverse perspectives.
By Sarah Kessler | JUN 10, 2024
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A study found that managers who self-promoted, believing they were better leaders, performed worse than those chosen randomly. These “lottery managers” were better at reading people and had stronger social skills, highlighting the risk of overconfidence in leadership.
Ben Weidmann from Harvard Kennedy School suggests that companies should promote managers based on their economic decision-making skills rather than just their eagerness to lead. This approach can uncover hidden talents and improve team performance by selecting leaders who are more resourceful.
By Natalie McCormick | AUG 28, 2024
Read the original article at FORTUNE