Business Up Front - February 2008

Business Up Front

Consumer Electronics Industry Sales to Jump

The consumer electronics (CE) industry is projected to post a 6.1 percent increase in revenues in 2008 with total shipments forecast to top $171 billion. The Consumer Electronics Association released its estimate of final shipment revenues for 2007, which totaled $161 billion, up 8.2 percent over 2006. The overall projection for growth of 2008 is closer to the long-term historical average for the industry, and is well above expected growth levels for other industry sectors, including housing and new vehicles. Sales of television displays continue to be the largest contributor to the CE industry, representing 16 percent of shipment dollars. The video gaming category continues to set records, with estimated growth of 50 percent in 2007.

Fostering Creative Environments

Work environments can tend to feel stagnant and cumbersome when filled with forms, protocol and chains of command. How do you move beyond methodology of business to spark ingenuity throughout your workforce? Here are some suggestions to encourage creativity from Dale Carnegie Training.

• Initiate creativity – set up brainstorming sessions and be the first to throw out a radical idea that contradicts current practices.

• Create a trusting environment – provide a space where employees feel comfortable brainstorming and conveying ideas that may be more adventurous.

• Provide training and vocational opportunities – organize workshops for your employees to improve leadership skills and interoffice communications.

• Be open and accessible – make it known that your door is always open to all ideas.

• Ask for feedback – solicit requests from your employees to confirm your loyalty and investment to the staff.

How CEOs Should Determine Leadership Roles

CEOs, for any type and size of an organization, cannot and should not do it all, but today’s CEOs attempt to wear too many hats. Based on their capabilities and the organization’s needs, they should focus on their most precious commodity – time. Here are eight primary CEO roles, according to Kepner-Tregoe Inc., an international consulting and training services firm.

• Visionary – generates big, new ideas.

• Strategist – identifies products/services to offer, selects market to serve, determines product emphasis, and builds competitive advantages.

• Implementer – ensures operational excellence.

• Motivator – builds an executive team, empowers employees, and creates an attractive culture.

• Rainmaker – establishes high-level customer relationship, and lands big orders – the salesperson-in-chief.

• Marketer – embodies the brand by giving speeches, handles interviews with media, and appearing in advertisements.

• Dealmaker – finds partners, and negotiates business arrangements.

• Ambassador – satisfies investors, persuades lawmakers, educates and impacts regulators, and meets the needs of board members.

More Clicks Than Conversation

Business people are doing more typing than talking when communicating on the job. Sixty-five percent of executives prefer to receive e-mail over other forms of communication, according to a recent survey from OfficeTeam. Conversely, the preference for face-to-face meetings, paper memos and voicemail has dropped.  Here are five tips to avoid e-mail overload and ensure your messages are well-received.

• Make it clear. State the purpose for the message upfront, followed by back-up details.

• Avoid sending a copy to everyone. Only forward messages to those who are directly involved with the topic being addressed.

• Keep it brief. Don’t expect others to read a long message or e-mail chain – provide a brief summary.

• Don’t cry wolf. Only mark a message “urgent” when it is truly critical for the recipient to read immediately.

• Provide context. Describe the e-mail contents in the subject line so the recipient can prioritize messages and search for your note in the future.