Business & Finance

Mohammad Anas Wahaj | 14 may 2015

Pervasion of technology in every aspect of society is leading to ease of access and instant availability of products and services to customers. There are multiple vendors vying for consumer's attention. This highly competitive environment makes the marketers job more relevant and challenging. They need to equip themselves with the right skills, tools and strategies to reach out effectively to their target audience. Christian Eriksen, Regional Director of Marketing and Solutions at SimCorp Asia, provide four tips to marketing professionals for efficiency, effective communication, partnerships and growth - (1) Buyer Personas: Know who you are selling to. (2) Buyer's Journey: Know where your buyers are at in the buying process. (3) Invest in Technology: Automation in marketing is key. (4) Partner with the Right People: Those who understand your brand and market. Read on...

CMO Innovation: Four tips for marketing professionals
Author: Christian Eriksen

Mohammad Anas Wahaj | 13 may 2015

Adam Smith believed in laissez-faire world and his theory of 'invisible hand' of free markets has been a defining element of the capitalist economies. It explains that when markets are left alone, they allocate resources better and efficiently. This evolved into an economic school of thought that unregulated markets are inherently stable. According to Friedrich von Hayek, a free-market economist, the best way for an economy to recover after a slump was for it to be left alone. Deregulation was the main mantra in the global economy throughout the 1980s and 1990s. Alan Greenspan, chairman of the US Federal Reserve (1987-2006), has been instrumental in this shift. Subitha Subramanian, chief economist at Sarasin & Partners, explains the reshaping of the free markets and the rise of the 'visible hand' in global economy in recent years. According to her, 'In 2007, the sharp collapse in asset prices and economic growth prompted a sea change in the attitude towards laissez-faire economics. Only expensive government interventions seemed capable of arresting the economy's plunge.' Works of economist John Meynard Keynes on the Great Depression is finding new relevance to understand volatility of markets. She further explains, 'The biggest distortion facing financial markets today comes from the repression of interest rates by the world's central bankers...Currency markets, too, are being subjected to large distortions owing to central banks introducing activist policies at different paces. In a laissez-faire world, wealth creation is a reward for risk taking and innovation. In a world of financial repression, it is linked to central bank policies pushing up asset prices, which disproportionately benefits the older and wealthier segments of society.' Rising inequality, shifting of tax systems away from economic activity towards wealth and assets, instability of credit-based financial system, shifting of geopolitical landscape away from US leadership and governance, and rise of regionalization and localizaiton, are all contributing to the reshaping of global economy by deliberate interference of policy makers who are seeking growth and stability. Read on...

The Financial Times: The rise of the visible hand in economic policy
Author: Subitha Subramaniam

Mohammad Anas Wahaj | 06 may 2015

According to Modern Healthcare Magazine, although healthcare workforce in US is dominated by women, but they don't hold top leadership positions - 78% of all healthcare and social assistance workers are women, and 77% of hospital employees are women. In 2014, of the 5767 hospitals and health systems in the United States, only 1508 (26%) are led by women CEOs. Modern Healthcare Magazine recently compiled a list of top 25 women in US healthcare selected from about 200 who were nominated - (1) Leah Binder, President of Leapfrog Group (2) Maureen Bisognano, President and CEO of the Institute for Healthcare Improvement (3) Marna Borgstrom, CEO of the Yale New Haven Health System (4) Deborah Bowen, President and CEO of the American College of Healthcare Executives (5) Mary Brainerd, President and CEO of HealthPartners (6) Ruth Brinkley, CEO of KentuckyOne Health (7) Sylvia Mathews Burwell, Health and Human Services Secretary (8) Debra Cafaro, CEO of Ventas (9) Christine Cassel, MD, President and CEO of the National Quality Forum (10) Pamela Cipriano, President of the American Nurses AssociationRead (11) Karen DeSalvo, MD, MPH, National Coordinator for Health Information Technology (12) Susan Desmond-Hellmann, MD, MPH, CEO of the Bill & Melinda Gates Foundation (13) Susan DeVore, president and CEO of Premier (14) Tejal Gandhi, MD, MPH, President and CEO of the National Patient Safety Foundation (15) Patricia Hemingway Hall, President and CEO of Health Care Service Corp (16) Karen Ignagni, president and CEO of America's Health Insurance Plans (17) Sister Carol Keehan, President and CEO of the Catholic Health Association (18) Risa Lavizzo-Mourey, MD, MBA, President and CEO of the Robert Wood Johnson Foundation (19) Donna Lynne, responsible for Kaiser Permanente's Pacific Northwest and Hawaii regions (20) Patricia Maryland, President of healthcare operations and COO at Ascension Health (21) Elizabeth Nabel, MD, President of Brigham and Women's Hospital (22) Debra Osteen, Senior Vice President at Universal Health Services (23) Nancy Schlichting, CEO of the Henry Ford Health System (24) Lynn Simon, MD, MBA, President of Clinical Services and Chief Quality Officer at Community Health Systems (25) Penny Wheeler, MD, CEO of Allina Health. Read on...

Medscape: America's Top 25 Women in Healthcare
Author: Megan Brooks

Mohammad Anas Wahaj | 05 may 2015

Big data has potential to transform how healthcare is delivered. But considering the huge volume and complexity of data, it is difficult to analyze with the usual data processing tools. In healthcare, big data is multi-structured and multi-sourced (Claims data; Clinical data; Status data). Specialized tools and softwares have to be used to make this big data actionable. Actionable data is standardized, predictive, preventive, timely, and comprehensive. Actionable data, which is ready for advanced analytics, can provide an organization with insights that improve patient care, reduce risk and strengthen the bottom line. Optum infographic shows how to make big data actionable and get value. Read on...

Forbes: Infographic - How To Make Big Data Actionable For Better Health Care Insight And Value
Author: NA

Mohammad Anas Wahaj | 02 may 2015

Seven design experts and judges of the 2015 Innovation by Design Awards define what an innovative design means to them - (1) Richard Florida, founder of the Creative Class Group: Innovative design is strikingly elegant but simple and intuitive to use. (2) Mark Rolston, founder of argodesign: By its very nature it should surprise us. It exposes the intrinsic power of technology. It reminds us of the profound nature of invention...should make life more beautiful. (3) Bradford Shellhammer, founder of Bezar: Did this design change the world and change it for the better...I am much more interested in the problem design solves. (4) Andrew Dent, vice president of library and materials research at Material ConneXion: How is it solving the problem it was designed for? What new approaches have been taken in this solution? Is it really offering an improvement over other designs or is it just 'new'?...I always initially zone in on the materials choices. I feel that there needs to be at minimum an 'appropriateness' when selecting them. (5) Bobby Martin Jr., co-founder of Original Champions of Design: Innovation comes from pushing beyond the expected... Innovative design is thoughtful, appropriate and ambitious. Innovative design is risky, so not everyone can be an innovator. (6) Dan Gardner, co-founder and executive creative director at Code and Theory: Is the design timeless? Does the design demonstrate new thinking and/or solve a problem in a new way? Does it have broader impact and application beyond the specific instance of the design? Does the design affect behavior in a meaningful way? (7) Stuart Karten, founder of Karten Design: Innovative design is new and different. It introduces aesthetics that haven't been seen before...the product must be meaningful. It must respond creatively to a real market need...when 'inventive' tech-driven products have functionality that is driven by people and connects to human needs that innovation occurs. Read on...

Fast Company: What Is Innovative Design? 7 Designers And Thinkers Weigh In
Author: Suzanne LaBarre

Mohammad Anas Wahaj | 29 apr 2015

PR is undergoing transformational shifts. In this year's Agency Business Report, the main themes are integration, convergence and the enhanced value of digital and social media. The new PR firm is highly influenced by these factors as they change the dynamics of agency leadership roles, the structure of the firms, and the talent that is recruited and retained. Richard Edelman, CEO of Edelman, defines the largest PR firm in the world as, 'It's a Venn diagram where the overlaps of the four [media, PR, social media, advertising] are becoming more present. It used to be distinct valleys and now the roads are crossing. We're going to try to have stronger creative, stronger planning, and look at problems differently.' Inspite of recognition of advertising agencies for their PR work and some ad-shops 'integrating forward', most PR agency leaders still believe PR has a unique mentality and heritage to bring to the modern content marketing mix. They don't see the need to rebrand as something other than PR. According to Andy Polansky, CEO of Weber Shandwick, 'Some advertising firms, like Mullen, have a strong PR capability - others do it around the edges. The key is to develop depth and have a credible, strong offering. PR has never been held in higher regard by the C-suite, and there's a lot more dimension to our business now. We've emerged as leaders in content marketing and social.' He further believes the sweet spot for PR agencies is the ability to engage multiple constituencies across different platforms and stakeholder groups. Fred Cook, CEO of PR firm Golin, says, 'It's getting harder to define what a PR agency is...We're competing with different types of agencies in different categories. You can call yourself anything you want, but it is how your clients define you. Our clients still define us as a PR agency, but a PR agency that does a lot more than before.' According to Dave Senay, CEO of FleishmanHillard, the principles of PR have never changed. He cites Edward Bernays' definition of PR as informing, persuading, and connecting people with people. He points out, 'PR is no different than it's ever been. If you take the two schools of PR, the behaviorist or socially responsible or conscious side, they are converging like never before. The wind is completely blowing into our strengths.' He believes modern marketing communications is all about how and why people behave the way they do, which requires an understanding of their culture, media consumption habits, and the global push toward shared value. Online video is at the forefront of new PR services. Although it has been mostly associated with ad agencies, but PR firms are now effectively utilizing the medium to construct engaging narratives. The change in skill sets required at the "new PR agency" is changing the people who come into the business and inevitably resulting in legacy personnel leaving at the other end of the talent funnel. It is also evolving different workforce structures more suited to the new environment. Many agencies have restructured their practice offerings and tried to inculcate collaboration across disciplines, geographies, and offices. Compensation structures are being amended to better reflect overall results at agencies, rather than being based on individual office P&Ls. Bonus pools are increasingly tied to individual objectives aligned with strategy and client goals rather than offices. Skeptics about this new age of PR and subsequent delineation for PR agencies may highlight the issue of measurement and how these new skill sets are producing return on investment for brands and clients. But in reality the payback and return on investment of content-based executions built from smart data can totally be monitored in real time, via measurement and social analytics. Effectiveness is measured on criteria such as the number of people who link to, share, view, or create their own content using the source material. Social metrics are much more powerful because they show someone is actively involved in the content and sharing it with their community. Rob Flaherty, CEO of Ketchum, points out, 'And now with the Internet of Things you can link these metrics to visits in-store and to purchases, which is the Holy Grail for every communicator and marketer - and also for the new age of PR firms servicing those clients' needs.' Real-time marketing is fueling a new range of skills, services, and ways of working at PR agencies. Read on...

PRWeek: What is the new PR agency?
Author: Steve Barrett

Mohammad Anas Wahaj | 27 apr 2015

To get a for-profit social enterprise started and make it self-sustaining requires different types of fundraising at different stages of the venture's growth. Lisa Curtis, founder of Kuli Kuli Foods, suggests the following stepwise process to effectively finance the enterprise - (1) Put the idea for an enterprise on paper and participate in business plan competitions to win prizes and also to learn, connect and promote it to increase the chances of future funding. (2) Join an accelerator program as it helps to build the necessary funding network or sometimes it provides funds directly. (3) After business plan competition and refining the idea through an accelerator program, get on with crowdfunding campaign. But before the launch of crowdfunding it is important to know exactly how much money is required and what the final product will look like. (4) Once the product is ready for the market, it becomes important to sustain the business without running out of money. At this stage acquiring a loan will be an important financial strategy. (5) Once the business starts to grow and idea has got 'proof-of-concept' from the market, the next step is to seek angel investors. One way is to do an accredited-only crowdfunding campaign. Moreover join an investor network, prepare a solid executive summary and keep on pitching to prospective investors. (6) Keep the focus on the main purpose of the social enterprise i.e. to make a positive impact on the world. This will provide the strength to carry on during the challenging times. Read on...

Triple Pundit: 6 Steps to Finance Your New Social Enterprise
Author: Lisa Curtis

Mohammad Anas Wahaj | 26 apr 2015

According to CDC estimates, about 30 million of US population had diabetes in 2014, and more than 1/4th of them were undiagnosed. Moreover another 80 million were classified as 'pre-diabetic', meaning they have greater chance of getting diabetic in the next decade if they don't change their lifestyle. Diabetes costed US$ 176 billion in direct medical bills and US$ 69 billion in indirect costs, including disability, work loss and premature death, in 2012. Considering data-intensive nature of diabetes, patients have to continuously monitor, calculate and control their blood sugar levels within a healthy range. As there are numerous and complex factors that affect blood sugar - including food, physical activity, and sleep patterns - it's not always clear what exactly occurs between a good blood sugar reading and a bad one. According to Jeff Dachis, co-founder of digital marketing firm Razorfish and now founder of diabetes managing app called One Drop, 'It's math all day long...if I stay in range, I can stay considerably healthy and unimpacted by diabetes.' Adoption of wearable health devices is somewhat trying to solve the mathematical aspects of diabetes. Moreover the coming wave of wearable technology and social media and mobile apps show prospects to transform how people live with and manage diabetes. Companies are also developing innovative devices like continuous glucose monitors, which constantly measure blood sugar levels through a small sensor that is inserted under the skin, providing a lot more insight into how a good reading turns into a bad one. Another technological advancement is an 'artificial pancreas', an implantable device which would monitor blood sugar as well as automatically deliver insulin. Researchers are developing small implants that can do both, eliminating the need for daily finger pricks and injections. Google and Novartis AG are partnering to develop less invasive way to measure blood sugar, a contact lens that monitors glucose contained in tears and transmits the data through a tiny antenna. These technology devices although hold a considerable promise to overcome challenges regarding the management of diabetes but they will be expensive and will take time to be commercially available. Read on...

The Washington Post: How the data revolution could transform the way people live with diabetes
Author: Ana Swanson

Mohammad Anas Wahaj | 20 apr 2015

The expansion and transformation of healthcare ecosystem with new models of healthcare delivery is creating rapid growth of required human resources. The industry now have new types of insurance companies, novel provider organizations and new health information technology companies. Physicians and nurses are having shifts in roles and responsibilities in order to effectively and successfully lead these organizations. They need different set of skills from the ones they acquired during their clinical training. Sachin H. Jain, chief medical officer of CareMore Health System and lecturer in healthcare policy at Harvard Medical School, suggests three skills that are critical for doctors and nurses as they transition to management and assume higher level of influence in the business of health - (1) Operations Management and Execution (2) People Leadership (3) Setting and Defining Strategy. Dr. Jain quotes one CEO's remark, 'Physicians and nurses run the risk of losing their clinical identities as they develop into executives.' On this, he comments, 'It would be a shame if they did. As they transition to careers in the business of health care, clinicians must hold on to the heart and practice of medicine as they continuously develop the core executive skills required to effectively lead and shape their organizations.' Read on...

Harvard Business Review: The Skills Doctors and Nurses Need to Be Effective Executives
Author: Sachin H. Jain

Mohammad Anas Wahaj | 14 apr 2015

According to MarketingTerms.com, 'Affiliate Marketing' is the 'Revenue sharing between online advertisers/merchants and online publishers/salespeople, whereby compensation is based on performance measures, typically in the form of sales, clicks, registrations, or a hybrid model.' Wikipedia defines 'Customer Relationship Management' (CRM) as 'System for managing a company's interactions with current and future customers. It often involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.' Affiliate managers need to keep track of their affiliate relationships efficiently and they can use CRM tools to stay organized. According to Dustin Howes, Director of Marketing at Marketing Clique, 'Using the CRM creates full transparency of the current state of the affiliate program and the growth in the near future.' He provides the following ways CRM can be effective for affiliate marketing - (1) Document Hot Leads (2) Task Reminders (3) Institutional Memory (4) Predicting Affiliate Performance. Read on...

FeedFront: Growing your Affiliate Program with a CRM
Author: Dustin Howes

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