The Five Areas of Success

Question 1

What are the five areas of success?

Answer 1

Globalization, Ethics, Technology, Intellectual Capital, Workforce Diversity.

Question 2

What is Globalization?

Answer 2

The idea that there are no longer borders that exist. The connection between nations and countries.
(eg. Shipping products, Working from home)

Question 3

What does globalization look at?

Answer 3

1. Expansion of borders: Are they expanding beyond their own borders? How are they doing in the rest of the world? Are their products accessible? Do they have offices in other countries?
2. Supplier relationships: Are they taking advantage of cheap labor? Or skilled labor? (China vs germany) Can you find the skills you need in other markets? Relationships with trading partners?

Question 4

What does Ethics look at?

Answer 4

1. Employees: How do companies treat them? What does the company stand for? Their values? Do they give back? Do they have HR team? Care about mental health? Benefits? Job flexibility?
2. Customers: How do companies treat customers? Warrantees? Do they care?
3. Community: Do they give back to the community? Donations? Do they care?

Question 5

Why is technology important for success?

Answer 5

Business have to move with the changes to be successful. Data for any business is so important to improve efficiency and function of any business.

Question 6

What is intellectual capital?

Answer 6

The brain power of a work force or the collection of knowledge that everyone brings to the table

*Most important

Question 7

What does Intellectual Capital look at?

Answer 7

1. Attract: How to get best and brightest? How do we get them to stay?
2. Retain: Experience over education. Keeping them valuable.

Question 8

Why is workplace diversity important?

Answer 8

Creates stronger perspectives, skills background experience, culture points, connections, etc contribute to overall success