FORTUNE – Viking Cruises CEO Torstein Hagen, at 81, designs a $10.4 billion luxury cruise line catering to baby boomers’ tastes and preferences. With a focus on the older demographic’s desire for cultural experiences, Viking’s strategic marketing and exclusion of children and casinos contribute to its success. Hagen’s precision and analytical approach, shaped by his background in physics and business, have propelled Viking’s growth despite setbacks. The company’s resilience during the pandemic, commitment to quality service, and plans for expansion reflect its steady course in the cruise industry. However, challenges lie ahead as the industry matures and pricing dynamics evolve, potentially impacting Viking’s position.
Venture Capitalist Says Google, Meta And Amazon Employees Are Doing ”Fake Work”
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Keith Rabois, a general partner at Founders Fund, critiques the culture of ‘fake work’ in tech companies such as Google and Meta, arguing that many employees are over-hired and engage in unnecessary tasks. This over-hiring serves as a vanity metric, allowing employees to coast without fear of termination. Rabois highlights that the tech sector’s recent austerity measures, prompted by rising costs and layoffs affecting nearly 130,000 workers in 2023, have shifted the landscape dramatically. Companies are now enforcing performance improvement plans and stricter promotion criteria, creating a competitive environment among employees.
At Google, a new policy reduces senior-level promotions, requiring employees to enhance productivity substantially. This change follows the layoff of 12,000 employees in January 2023, which was conducted without clear communication about selection criteria. Amazon’s CEO Andy Jassy has mandated a return to the office for at least three days a week to foster company culture, coinciding with significant layoffs impacting over 18,000 employees. Meta has instituted performance ratings, labeling thousands of workers as subpar and cutting bonuses, with a hiring slowdown of at least 30% planned for 2023, demonstrating cost-cutting initiatives and potential for future layoffs.
By Jack Kelly | MAR 09, 2023
Unlocking Strategic Thinking and Creativity with AI Tools
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1. Use AI to Enhance Strategic Thinking: AI can help analyze data and identify patterns quickly, freeing you to focus on big-picture strategy. Example: A retail company could use AI to analyze customer purchase trends and refine its marketing strategy accordingly.
2. Boost Creativity with AI: AI can act as a brainstorming partner, offering fresh ideas and solutions. Example: A product development team could use AI to generate new product ideas or improve existing ones, sparking innovation.
By Ginette Gagnon | AUG 8, 2024
Read the original article at FORBES
Hockey to Hustle: Doug Adlam’s Entrepreneurial Hat Tricks
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Doug Adlam’s tech startup, Finmo, faced bankruptcy when an investor pulled out. With only 11 days left, they managed to secure funding just 22 minutes before payroll was due. This experience highlights the importance of perseverance and quick thinking in crisis situations. Companies can learn from this to develop resilience strategies, potentially outperforming larger competitors in adaptability during financial challenges.
Adlam’s mortgage company won “Brokerage of the Year” at the Canadian Mortgage Awards in 2017, despite having fewer than 25 employees. This unexpected triumph demonstrates how smaller firms can compete with industry giants by focusing on client commitment and team values. Companies can leverage this lesson to build strong company cultures that attract top talent and clients, potentially outshining larger competitors.
By ENTREPRENEURS’ ORGANIZATION | OCT 06, 2024
Read the original article at INC