Walmart is spending on in-house research and acquiring retail brands and technology startups, all in pursuit of Amazon's e-commerce and advertising businesses. Walmart is not only selling its own products but increasingly partnering with other brands that can sell in stores and on Walmart's website, says Jet.com founder Marc Lore, who leads Walmart's domestic e-commerce business.
Many restaurants are struggling to keep workers during the tight labor market and some eateries are testing expedited pay to help support retention. Eight Church's Chicken sites next month will begin paying workers 50% of their day's wages -- the day after a shift -- and may increase that amount, depending on employee response.
The sculpture titled "Rabbit" by pop artist Jeff Koons was sold for $91.1 million at auction at Christie's in New York, making it the most expensive artwork by a living artist ever sold. The steel sculpture that looks like an inflatable bunny was purchased by art dealer Robert Mnuchin.
Selling may be a science, but not because there's a specific, repeatable process that will always result in predictable success, writes David Brock. Instead, selling is like science in that it requires participants to constantly ask questions and display "incessant, sometimes obsessive, curiosity," Brock writes.
When seeking to solve problems, first create a statement that clearly lays it out different perspectives, writes Jamie Flinchbaugh. While formulating the statement, also address how any potential solution will be validated.
Hard conversations can be handled better by displaying vulnerability, being clear about the type of conversation taking place and using open-ended statements to respect the other person's emotions, writes Jenn Lofgren. "You might need to have a series of conversations instead of trying to push for a result in a single discussion," she writes.
PR is an important part of any company, but it helps when what is being told to the outside world lines up with internal communication, whether it be celebrating success or acknowledging mistakes, writes Cate Huston. "When PR is inauthentic, when the outside doesn't match the inside, it's an exercise in fantasy," she notes.
Decision-making can be improved when the process involves all relevant stakeholders but the decision is delegated to the proper reporting level, according to McKinsey research. When such decisions also account for enterprise-level concerns, companies can move quickly without sacrificing quality.
Walter Bettinger, CEO of Schwab, learned from his father that a good reputation is the most valuable asset anyone can have. "I think the two most important things in leadership, whether it's in a time of crisis or even if in wonderful times, come down to transparency and vulnerability," he says.
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