The World Cup is well underway and whilst football fans around the world are enjoying a feast of top football there are a number of “missing faces”.
By “missing faces” I’m not referring to players who aren’t at the World Cup but instead I’m referring to some top global companies.
Johnson & Johnson, Sony, Continental and Castrol were leading sponsors of the World Cup but decided not to renew their contracts when the corruption scandal at FIFA (the governing body of the various football associations around the world and the body that organises the World Cup) hit the headlines a few years ago.
The money that FIFA gets from sponsorship is significant. It’s believed that a 4-year top tier sponsorship costs in the region of $150 million.
Previously, Johnson & Johnson, Sony, Continental and Castrol had no doubt spent that type of money in the expectation that it raised their profile and increased their sales
Their hope was that football fans around the world would be watching the games and then be exposed to, for example, the Sony brand and as a result somewhere down the line would end up buying a new Sony television or other electrical product from Sony.
The new sponsors for the current World Cup are a bit different though. They include major state backed companies such as Gazprom (Russia’s oil giant), Qatar Airways and Wanda (the Chinese conglomerate).
Wanda calls itself the world’s biggest property developer and Gazprom has a virtual monopoly.
It’s difficult to see how their sales would receive a boost from the World Cup exposure.
It’s not just sales though that are in the mind of sponsors. With the World Cup being held in Russia there’s an obvious link to sponsorship. Qatar are hosting the next finals in 2022 and the presence of Wanda will help increase the exposure of football in China where it’s been reported that President Xi has ambitions to make China a great footballing nation.
Either way, I’m sure the supporters of the team that ends up winning the World Cup won’t really care too much over who sponsors the World Cup – It’s the winning the tournament that counts as far as they are concerned…
https://www.theexpgroup.com/wp-content/uploads/2018/07/world-cup-sponsorship.png9441678Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-06-29 08:11:202018-07-05 08:22:05Missing faces at the World Cup.
If you look at the finance side of running a bar then things should (in theory) be quite simple. Revenue is what your customers pay for the drinks they buy and the main expenses are the amount you pay to the brewery for the beer, staff wages and property costs.
Over in Belgium though some bars are facing a unique problem which is causing unwanted expenses but it looks though that they are coming up with some ingenious solutions.
Belgium is famous for its beers. Monks from local Abbeys started brewing different types of beer in the 12th century and nowadays some of the bars in tourist areas in Brussels and Bruges stock several hundred different types of beers.
Each of these beers has their own particular glass which it is served in. These glasses come in all shapes and sizes and are nice looking objects.
Unfortunately for the bar owners they are also very collectable in the eyes of certain tourists. As a result, lots of these glasses go missing as tourists take them for a souvenir.
This can involve a significant number of glasses. Tens of thousands of glasses a year are stolen in Belgium and replacing these glasses represents a significant cost.
Some of the bars are coming up with innovative ideas to stop the thefts.
The Bruges Beerwall café had 4,000 glasses taken in one year and has now introduced security alarms which are attached to each glass. If a glass is taken past the scanner at the door an alarm sounds.
A slightly less hi-tech solution to the problem (but arguably as effective) can be found at the Dulle Griet bar in the Belgium town of Ghent.
The bar stocks over 500 different types of beers and has some very attractive glasses in which these are served. If you want to have a drink though you have to hand over some security to make sure you don’t steal the glass.
The security is a shoe.
And not just any shoe but one of the shoes you are wearing. You hand it over and it is put in a basket which is then pulled up to the ceiling so that you can have a drink knowing that your “security shoe” is safe in the basket.
A great idea by the bar to keep the thefts of their glasses to a minimum and it has proved so successful that it has now become a bit of a tourist attraction with people popping in to look at the basket and have a drink.
One thought does spring to mind though and with 500 tasty beers on the menu I wonder how many customers have had one too many drinks and woke up in the morning with different shoes on each foot….
https://www.theexpgroup.com/wp-content/uploads/2018/06/belgium-beer-profits.png9441678Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-06-17 15:04:332018-06-21 15:15:49Don't put your foot in it...
Creativity and innovation in any organisation should always be welcome and whilst technology is often at the forefront of innovation it is sometimes the really simple ideas that can create benefits.
Unfortunately, in this particular situation it didn’t quite go according to plan.
The initial idea was good. Officials in charge of the 1,200 acre Minto-Brown Island Park in Oregon in America were concerned that several invasive plants were taking over the park and killing off a number of the native flora including maple and hazelnut trees.
The solution put forward was to create a crack team of 75 goats who would eat the invasive plants such as the Armenian blackberry and the English Ivy which would then mean that the native flora would thrive.
75 goats were duly obtained from a company called Yoder Goat Rentals (as an interesting aside I wonder how many of you were aware that you could rent a team of goats. I certainly wasn’t.)
The goats got down to work but 6 weeks later the project was cancelled.
There were a number of issues.
Firstly, the goats were fairly relaxed about what they ate. In terms of the invasive Armenian blackberry for example they decided to eat the tasty blackberry leaves but left the prickly bramble. This resulted in the plant carrying on growing.
Secondly, they didn’t show any distinction between the (tasty) maple and hazelnut trees which they were supposed to be helping and the invasive plants.
Thirdly, the total cost of the 6-week pilot programme was $20,719 which was nearly 5 times the $4,245 cost for a normal parks maintenance man supported by a prison inmate work crew.
Finally, according to a report to the city council the goats “had a barnyard aroma”.
In summary, a nice try but it didn’t quite work. Still, as any successful business person will surely agree, you don’t progress unless you try. Better luck next time and at least the goats had a nice 6-week holiday in a lovely park…
https://www.theexpgroup.com/wp-content/uploads/2016/03/goat-workers.jpg19193411Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-06-03 16:22:122018-06-03 16:22:12Grab your goat and let's go...
What’s one way of increasing the chances of getting hold of someone’s password?
Does it involve the use of the very latest supercomputer? Does it involve some clever IT geeks hacking into a computer for you?
Or does it involve chocolate?
A bit of research published in the journal Computers in Human Behaviour attempted to find out how people are obligated by the kindness of others. Or in other words, if someone does something nice for a person, how likely is it that the person will be nice back to them?
The researchers in Luxembourg conducted a survey of random people in the street asking them about internet security including questions about passwords.
Some of the people interviewed were given chocolate and some weren’t.
30% of those that were not given chocolate revealed their passwords which to me is a surprisingly high percentage and just goes to show that quite often human stupidity is the weakest link in internet security.
For the people who were given chocolate at the beginning of the interview the figure rose to 44% and if the chocolate was given just before the question on passwords was asked an incredible 48% gave their passwords! Yes, nearly half of the people asked their passwords as part of a survey told a complete stranger their password if they had been given chocolate.
Andre Melzer, the author of the study said that “when someone does something nice for us we automatically feel obliged to return the favour”.
So, in conclusion, if someone walks up to you in the office and offers you a piece of chocolate be careful what you say…
https://www.theexpgroup.com/wp-content/uploads/2016/07/chocolate.png9211637Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-05-25 02:55:442018-05-25 02:55:44Would you do this for a bit of chocolate?
A lot of our readers are accountants or are training to be accountants. It should arguably follow therefore that you are good with figures. You are good with numbers and can manage your finances.
Not everyone though may be as good at managing their own personal finances and for any of you who may have problems controlling your spending, a new product will shortly be hitting the market which could be of interest to you.
A British company by the name of Intelligent Environments has developed a wristband that will deliver an electric shock to the wearer when they exceed pre-set spending limits.
The Pavlok wristband links to an individual’s online bank account and when a pre-set limit is exceeded a 255-volt electric charge is delivered to the wearer. The wristband is named after the Russian scientist Ivan Pavlov whose research showed that the behaviour of dogs could be altered by the prospect of reward or punishment.
Submitting yourself to an electric shock to stop yourself spending money does seem a bit extreme and with a cost of £120 then the buyer may well end up having an electric shock earlier than anticipated…
https://www.theexpgroup.com/wp-content/uploads/2016/07/Financial-Control.png8301475Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-05-17 11:53:422018-05-17 11:53:42This is shocking…
Well, if you are male and your boss is also male there could be some disappointing career news for you if you think you are better looking than your boss.
A study has suggested that male bosses are less likely to promote good-looking men who work for them.
The study by University College London’s School of Management concluded that good-looking men were considered competent by their male bosses but as a result were also seen as a threat to them and their own personal career aspirations.
This raises an interesting point. Organisations no doubt want to employ the most competent people but if a male boss is reluctant to recruit or promote good-looking men because they take the view they are a threat to them personally then it means that good-looking men could be discriminated against whether or not they are competent.
Dr Sun Young Lee, the lead researcher on the study was quoted as saying “organisations want to hire competent candidates but individuals have their own agenda. When employing someone, they do not want the newcomer to do better than them and show them up”.
“What about good-looking females” I hear you say?
The study concluded that the same prejudice did not apply to women. Being a good looking lady was not associated with competence according to the study.
The study was published in the Organisational Behaviour and Human Decision Processes journal and Dr Lee felt her results suggested that organisations should consider appointing external recruitment consultants to avoid personal preferences impacting on recruitment decisions.
One additional point though is that if you yourself are male and have recently been overlooked for a promotion by your male boss then surely the only reason you didn’t get the promotion was because you are better looking than him…
https://www.theexpgroup.com/wp-content/uploads/2016/02/ExP-Blog.jpg9441678Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-05-10 19:38:022018-05-10 19:38:02Are you better looking than your boss?
Some of you may have heard of the website Ashley Madison.
For those of you who haven’t heard of Ashley Madison, it’s a website where married people can register to meet other married people without their respective husband or wife knowing and then have an affair.
In fact, some of you may be registered members of the site (this does raise the question that if you are a registered member of Ashley Madison and are reading this business blog then at the moment you are finding business stories more interesting than having an affair so well done on that).
Ignoring the rights or wrongs of a website facilitating affairs, Ashley Madison has had an up and down ride over recent years.
Back in 2015, they were hacked. As a result the personal details of their users were leaked and there were a lot of users. When I say “a lot”, there were 32 million users.
The situation got worse for Ashley Madison though.
As well as their systems being hacked and details of who had signed up being leaked, it turned out that the vast majority of users were men and of the women who had signed up a significant proportion were Bots (i.e. a piece of software) or prostitutes.
All in all, not great selling points when trying to encourage new members.
In an attempt to build up trust (if trust is a relevant word for people looking for affairs that is…), Ashley Madison commissioned Ernst & Young to cast an eye over the membership data and see if it stood up to scrutiny.
There were some interesting results including the fact that 15,542 new members signed up each day in 2017 (that’s nearly half a million new users per month).
There were also more active women on the site than men. Globally, the ratio of active males to active females was 1 to 1.13 but there were variations on a regional basis ranging from Australia where the male to female ratio was 1 to 0.78 and Columbia where the ratio was 1 to 2.39.
Ernst & Young also reported that “The Client had used Bot programs to generate message activity with paying customers in prior years. The Bot programs were decommissioned in 2015 and our procedures related to calendar 2017 found no evidence that the use of Bot programs previously operated had been reinstated.”
So, in theory the registrations are human and there’s no danger of falling in love with a bot.
The full Ernst & Young report can be found at www.ashleymadison.com/2017report but I would be careful as if you’re viewing this on a computer at home and your husband or wife finds you’ve been visiting ashleymadison.com then there could be some difficult questions to answer.
Then again, if you start typing in the website and your web browser recognises it from a previous visit to that site then maybe…
https://www.theexpgroup.com/wp-content/uploads/2018/04/ethics-in-business.jpg18833347Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-04-26 13:34:212018-04-26 13:34:21EY confirm the women were real
We’ve all been there haven’t we? Long boring meetings that don’t seem to be going anywhere.
Maybe you’ve tried to give the impression of being interested in what was being said but in reality the meeting wasn’t relevant for you and your mind was wandering to other more interesting things.
Well, if you’re not a great lover of excessive meetings then you are not alone. In fact, you share the thoughts of an incredibly successful and admired business person. Namely, Elon Musk.
Mr Musk’s current business interests include Tesla and SpaceX.
In the past he founded x.com which later became PayPal. Paypal was subsequently bought by eBay for $1.5 billion.
He currently has a net worth in excess of $20 billion.
But what does he think about meetings?
In an email to his staff that was leaked to the electrek website there were a few productivity recommendations:
In the words of Mr Musk, these include:
– Excessive meetings are the blight of big companies and almost always get worse over time. Please get of all large meetings, unless you’re certain they are providing value to the whole audience, in which case keep them very short.
– Also get rid of frequent meetings, unless you are dealing with an extremely urgent matter. Meeting frequency should drop rapidly once the urgent matter is resolved.
– Walk out of a meeting or drop off a call as soon as it is obvious you aren’t adding value. It is not rude to leave, it is rude to make someone stay and waste their time.
– Don’t use acronyms or nonsense words for objects, software or processes at Tesla. In general, anything that requires an explanation inhibits communication. We don’t want people to have to memorize a glossary just to function at Tesla.
– Communication should travel via the shortest path necessary to get the job done, not through the “chain of command”. Any manager who attempts to enforce chain of command communication will soon find themselves working elsewhere.
– A major source of issues is poor communication between depts. The way to solve this is allow free flow of information between all levels. If, in order to get something done between depts, an individual contributor has to talk to their manager, who talks to a director, who talks to a VP, who talks to another VP, who talks to a director, who talks to a manager, who talks to someone doing the actual work, then super dumb things will happen. It must be ok for people to talk directly and just make the right thing happen.
– In general, always pick common sense as your guide. If following a “company rule” is obviously ridiculous in a particular situation, such that it would make for a great Dilbert cartoon, then the rule should change.
Nicely said Mr Musk.
https://www.theexpgroup.com/wp-content/uploads/2018/03/Tesla_garage.jpg19883534Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2018-04-17 22:54:212018-06-11 10:50:27Nicely said Mr Musk
Homelessness is a growing problem in a lot of countries but coffee company “Change Please” has come up with a brilliant business model that could help.
They’ve brought together the problem of homelessness with people’s love of coffee and have created a radically different coffee company that is now looking to expand around the globe.
Their whole focus is on helping people whilst at the same time providing an excellent cup of coffee to the end customer at a fair market price.
When it comes to suppliers, the coffee beans they use are from farms that support local communities. For example, one of their suppliers from Peru helps victims of domestic abuse and a supplier from Tanzania helps people injured by landmines.
Once the coffee beans arrive in the UK, the people who roast them and serve them are people who have been homeless and sleeping on the streets. They are trained as baristas and work at one of the company’s locations. They are paid the Living Wage of £10.20 per hour and are given help in terms of opening bank accounts and finding housing.
Whilst the big coffee chains such as Starbucks and Costa Coffee are discussing introducing recyclable cups, Change Please has beaten them to it as all of their cups are 100% recyclable.
All profits are being invested in helping reduce the level of homelessness.
Things are going well for the organisation and they are planning on expanding the number of locations they operate from in the UK. They are also in talks to open in Australia and America with the same ethos of helping homeless people get back on their feet via a well and truly ethical cup of coffee.
They have also signed agreements with 2 big supermarkets, Sainsburys and Ocado, to stock packets of Change Please coffee beans.
It’s a common sound on the streets of cities in the UK to hear people asking if you have any “Change please”. With this fantastic business model for a coffee company, hopefully it will soon be a common sight to see the request for “Change please” replaced by coffee outlets called “Change Please”.