Starting an international business can be both a challenging and rewarding experience. The prospect of tapping into new markets, accessing new talent pools and discovering new business cultures can be exciting. However, before taking the plunge, it is important to carefully consider the location of your business.
As a leader, a large portion of your work relies on communication skills. You have to know how to communicate well with investors to get funds, with your employees to ensure maximum productivity and with your customers to make sales. Some business owners and professionals have discovered the power of silence as a communication tool. And that is where the rule of awkward silence comes into play.
Sunk cost fallacy refers to a situation where an irrecoverable expense (“sunk cost”) has been made and is used as a justification to continue that endeavor, no matter how futile it may be. Almost all of us have made irrecoverable expenses in our day-to-day lives, like buying tickets to a film or a concert.
As one of the most widely used social networking sites, Instagram boasts a staggering 1.28 billion users worldwide. Its enormous user base, coupled with its robust marketing capabilities, renders Instagram an ideal platform for entrepreneurs to expand their business prospects. Unfortunately, it’s not all smooth sailing for businesses on the platform.
Artificial intelligence (AI) has revolutionized the way industries operate, enabling machines to carry out tasks that were once the sole domain of human decision-making. With its ability to automate mundane and repetitive work, AI has quickly become an indispensable tool in various industries, including healthcare, finance, manufacturing and transportation.
Let’s face it, coming up with a catchy product name is hard work, and not all of us are capable of it. For people to buy your products, they not only have to find them useful but also have the product names deeply seared into their brains. Think of Xerox and Google. These household names have become so ubiquitous that people use them to describe the act of photocopying or searching for information online.
Whenever you apply to work somewhere new, what sells you on the switch is probably not just the salary hike but also the perks they offer. These perks can be small things like a paid gym membership to paid parental leave and mental health support. But not all perks are equally good. Welcome to the not-so-wonderful world of anti-perks—benefits that sound great on paper but are actually never useful to employees.
Some companies have become so deeply ingrained into our vocabulary that we use their names to refer to the products they sell. Take Google for instance. Do people say, “I’m going to search for XYZ’s meaning on the internet” or do we all just end up saying “I’ll Google it”? The term “Google” as a verb was added to the Oxford English Dictionary in June 2006.
The World Intellectual Property Organization (WIPO) defines intellectual property (IP) as creations of the mind. This includes inventions, literary works, art, names and images used for commercial purposes. IP is protected by means of patents, copyrights and trademarks, and these ensure that the creator of the IP experiences financial gain from it.
Data breaches have become common in today’s digital age, affecting businesses, individuals and even governments. In December 2022, Australian private health insurance company Medibank has fallen victim to a major data breach, with the personal and financial data of approximately 1.5 million of its customers leaked online.
Art is an expression of human creativity, and with the emergence of artificial intelligence (AI), a new era of artistic creation has begun. AI art generators, powered by various advanced algorithms and datasets, have revolutionized the way we produce and experience art.
Many of us romanticize the image of corporate life—high salaries, stimulating employment, glamorous workplaces and the opportunity to follow our goals. However, the reality is that there are numerous dark secrets about corporate life that are often not discussed.
The Covid-19 pandemic has fundamentally changed the way we work. As remote work and flexible arrangements become the norm, the idea of a four-day workweek is gaining traction worldwide. This alternative work model promises to improve productivity, increase employee satisfaction and well-being, and promote gender equality in the workplace.
While some CEOs have caused corporate upheavals and others, such as Elon Musk, have taken unorthodox approaches, a few have successfully navigated challenges and led their companies to great accomplishments. These captains of industry employed various strategies and styles, but they all shared a deep knowledge of their businesses and a clear vision for the future.
3D printing, also known as additive manufacturing, is a lucrative industry that is rising in popularity. It involves creating 3D objects—like hearing aids, shoes and even homes—by layering thin materials (e.g. wood, plastic, metal, etc.). In 2022, the 3D printing market was valued at US$18.33 billion and is projected to reach US$83.90 billion by 2029.
As if social media wasn’t enough, people now have a new way—a companion, rather—to promote disinformation: AI chatbots. The buzz around ChatGPT might have convinced you of the benefits on offer. It can write your essays, help you flirt and craft business strategies.
