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This article, “It is a Time for Innovation (CARTOON)” was first published on Small Business Trends
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Archives for 2020
WhatsApp Launches 3 New Functions. What Are They, and How Do You Activate Them?
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Some iOS users can already use them, while for Android devices they will arrive in the coming days.
2 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.
To close the year with a flourish, WhatsApp launches three new functions. Which are? Features include wallpapers, animated World Health Organization (WHO) stickers , and a search enhancement tool.
1. Custom wallpapers
As you read it, the most used instant messaging platform in the world revealed on its blog that now you can have personalized backgrounds for each chat instead of just one for everyone. You imagine? One for school, one for the family group, one more for your partner or crush, your group of friends and of course the company.
The platform also said that there will be different images of nature and architecture, which will be adapted for dark or light mode.
How to change the wallpaper of a single chat?
- Open the chat where you want to change the wallpaper.
- Click on “More options” (the three dots)
- Then go to “Wallpaper”
- Select a background category and choose the image you want to set.
Note : You can also tap Default wallpaper to restore the iconic WhatsApp background.
2. Sticker search engine
How long does it take you to find the right sticker when the conversation warrants it? If you are one of those who are constantly adding stickers to your collection and now you have them lost, you will love this.
Now you can find them through a search engine. It works by typing, placing an emoji, or browsing through the common categories. But in this life not everything is so easy. The improvements will work with the help of the sticker creators, since they will have to link with the emojis or related words.
“We encourage the creators of sticker applications to tag them with emojis so that they can be found by WhatsApp users,” said Facebook , owner of the messaging app.
Image: Depositphotos
3. Sticker packs
Finally, the last improvement of WhatsApp will be a new package of animated WHO stickers. This is called “Together at Home” and will be translated into 9 different languages. They were created to share between friends and family to show affection regardless of the distance.
Which feature are you most excited about?
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Choose the Best Whiteboard Markers
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If you buy something through our links, we may earn money from our affiliate partners. Learn more.
Whiteboards are a common feature in offices. Businesses use them for planning, identifying and prioritizing tasks, a message board, and other ways to communicate. A good marker goes hand in hand with your whiteboard.
Some whiteboard markers can also write on materials made from glass, porcelain, or melamine. The ink of these markers is manufactured to wipe off surfaces smoothly and easily without leaving streaks.
Whiteboard markers are ideal for writing on whiteboards and today’ market offer several options to consider:
Best Whiteboard Markers
Expo Low Odor Dry Eraser Marker
Top Pick: This is a dry erase marker with a plastic plain grip for easy skip free writing. The chisel tip can be applied on non-porous surfaces such as porcelain, whiteboards and even glass. It can be easily erased by using a dry cloth or eraser. The pack comes with 17 different colors and are ideal for the classroom, home office or the workplace.
EXPO Low Odor Dry Erase Markers, Chisel Tip, Assorted, 16 Count
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Amazon Basics Dry Erase Whiteboard Marker
Runner Up: This dry erase marker has a DryGuard ink feature that can work even when left uncapped for up to two days. This low odor marker’s versatile chisel tip allows users to write in multiple line widths with a simple change of the angle.
AmazonBasics Dry Erase White Board Markers – Low Odor, Chisel Tip – 12 Pack, Assorted Colors
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Quartet Dry Erase Marker
Best Value: The Quartet dry erase marker comes with a magnetic eraser cap for ease clean up. The marker set comes with different color options including black, red, blue, green, purple and yellow. It has a transparent ink indicator to let users see how much ink is left. The marker’s chisel tip helps to create bold and crisp lines with a non-toxic and low odor ink.
Quartet Dry Erase Markers, Whiteboard Markers, Fine Point, Mini, Magnetic, ReWritables
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U Brands Low Odor Magnetic Double Ended Dry Erase Markers
U Brands low odor magnetic marker has a small magnet to help place it on the whiteboard. This marker comes with two colors on a single marker for a total of 12 different colors. In addition to the magnet the markers also have a built-in felt eraser. The ink is non-toxic and low odor, and it can be applied on melamine, painted steel, porcelain and glass.
U Brands Low Odor Magnetic Double Ended Dry Erase Markers With Erasers, Bullet Tip, Assorted Colors
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Staedtler 2 mm Lumocolor Bullet Tip Whiteboard Marker
The Staedtler Lumocolor Whiteboard Marker is a low odor, non-toxic and quick-drying marker. Staedtler uses xylene and toluene-free ink with PP barrel and cap guarantee for long service life. You can leave it uncapped for days without drying and wipe the ink dry from whiteboards as well as glass and porcelain without leaving a trace. You get 8 markers with each set.
Staedtler 2 mm Lumocolor Bullet Tip Whiteboard Marker – Assorted Colours Pack of 8
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BIC Intensity Advanced Dry Erase Marker
The BIC intensity advanced dry erase marker is a low odor whiteboard marker that provides smooth, consistent ink flow. The fine bullet tip provides precision and detail work. The ink erases easily and comes with an ink indicator to let you see how much ink is left in the marker. One pack contains 24 nontoxic colors which can be applied on glass, and most non-porous surfaces.
BIC Intensity Advanced Dry Erase Marker, Fine Bullet Tip, Assorted Colors, 12-Count
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Arteza Glass Board Dry Erase Markers
Arteza makes a full range of art supplies, from canvas to paint. The markers come in a wide range of vibrant colors with fine or Japanese chisel tip for precision writing. You can also choose to get a magnetic cap with a felt eraser. They are safe and non-toxic and conform to the ASTM and EN71 regulations as well as AP certified.
Arteza Glass Board Dry Erase Markers Pack of 10 Bright Neon Colors with Low-Odor Ink
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Features to Look for in Whiteboard Markers
- Nontoxic and low odor: While shopping for Whiteboard markers you should make sure your read the fine print to see that there are no harmful, foul-smelling chemical solvents.
- Dry vs wet-erase markers: It is important to distinguish between wet-erase and dry erase markers. Wet erase ink markers can stay on a non-porous surface longer without smearing and you can erase it using either a wet cloth or a solvent. Dry erase is relatively semi-permanent and you can erase it using a dry cloth.
- Tip and ink: The market offers countless options for whiteboard markers. Some can write on surfaces such as porcelain, glass and other non-porous materials. Others have differently shaped tips giving you varying widths for different writing and drawing purposes.
- Comfort: When looking for the best dry erase markers make sure you look for ones with an ergonomic shape. A good dry erase marker should be easy to grip. This ensures you can write comfortably for long periods of time.
- Longevity: Whiteboard markers can be used a lot as such you will want a whiteboard marker that is slow to dry out. Some markers also come with an ink gauge to help you track your ink levels.
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Images: Amazon
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Why Tech Stocks Should Keep Outperforming in 2021
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6 min read
This story originally appeared on StockNews
The ascent of technology stocks that began at the March lows has been nothing short of incredible. The leading technology companies have seen their market caps’, influence, and power expand over the past months. COVID-19 has been the worst health crisis the world’s faced in a century. The virus has had a silver lining for technology companies. They provided the tools and services that allowed some normalcy to continue as people sheltered at home and isolated themselves. The coronavirus has hastened the technology industry’s growth as retail stores closed, people are working from home, and a new normal emerged fueled by technological innovations.
Technology shares have risen to dizzying levels, but many market participants continue to buy. The leaders of these companies face significant pushback from government officials and regulators in the US and Europe. They have expressed growing concerns that the control of data has allowed for an unacceptable level of influence. Cash hordes and trillion-dollar-plus market caps create an environment where antitrust issues impede competition have risen to the surface as we head into 2021.
Meanwhile, the legislators and regulators face a catch-22 situation. Any significant crackdown that breaks up the technology leaders or gets in the way of innovation may hand the leadership role to the Chinese. China’s political structure allows for monopolies as the nation has tight control over every aspect of its economy.
Valuations are at sky-high levels
Since the March low, the leading technology stocks recovered made new record highs and moved to levels where valuations expect a continuous stream of earnings and growth rate. The FAANG stocks, including Facebook (FB – Get Rating), Amazon (AMZN – Get Rating), Apple (AAPL – Get Rating), Netflix (NFLX), and Alphabet (GOOG – Get Rating), had a combined market cap of over 5.80 trillion as of the end of last week. All of the FAANG stocks have soared since the March low.
The Invesco QQQ Trust (QQQ) holds a portfolio of the leading technology companies that comprise the NASDAQ 100.
The fund summary and top holdings include:
Image credit:
Yahoo Finance
QQQ has net assets of around $130 billion, trades an average of over 48.15 million shares each day, and charges a 0.20% expense ratio.
NASDAQ QQQ Invesco ETF (QQQ)
Image credit:
Yahoo Finance
As the chart shows, the QQQ rose from a low of $164.93 to $299.01 at the end of last week, a rise of 81.3%.
The QQQ holds shares in the leading technology stocks, including the FAANG stocks and Tesla (TSLA). TSLA shares were over eight times higher than the March low as of the end of last week.
Innovation continues- Earnings could face roadblocks
Technological innovation will continue, but the trajectory and growth of earnings are more than likely to slow. Expecting the same rate of share price appreciation would require profit levels that are not likely in 2021 and beyond.
Increased regulation under the Biden administration and headwinds from the US Congress and European Commission could weigh on earnings over the coming years. Some politicians would like to see the leading technology companies broken into smaller pieces to foster more competition. Meanwhile, higher corporate tax rates and closing loopholes will weigh on earnings. As the global economy continues to suffer from the worldwide pandemic, increasing prices to cover the tax liabilities is not an option for the tech leaders.
We will continue to see new products and services from the technology sector that will revolutionize our lives, but earnings could weigh on share price growth after the incredible appreciation in 2020.
Rising taxes, regulations, and the potential of a breakup of the largest companies could set the stage for a substantial correction in the technology sector. However, the US and European politicians are likely to tread lightly for three reasons.
China could take control if regulators take a hard line on technology in the US and Europe
When it comes to technology, China is hot on the heels of the US technology industry. Any governmental roadblocks to US companies would only clear the road for Chinese companies to take a dominant role.
The Chinese government has allowed entrepreneurs in the technology sector to flourish, but the government keeps a tight grip on the sector as its political system considers technology innovation a matter of national security, and its goal is to dominate on a global basis. A perfect example is Amazon’s competitor Alibaba Group Holdings (BABA).
While Amazon.com, has a market cap of over $1.6 trillion, BABA is hot on its heels with its online and mobile commerce business. BABA’s market cap was at the $742.2 billion levels at the end of last week. Chinese tech companies could challenge all of the US and European tech leaders over the coming years if regulators decide to crack down on the sector.
A powerful lobby in Washington DC
The technology companies have established a powerful lobby in Washington, DC, and Europe to protect the industry. A November 21 article in The Guardian outlines the lobby’s power and influence and its impact on the incoming Biden administration. The title says it all, “If you think Biden’s administration will rein in big tech, think again.”
The President-elect appointed former employees of Facebook (FB) and Amazon (AMZN) to his transition team. Tom Sullivan, from Amazon, is headed for a senior position at the State Department. Mark Schwartz, also from Amazon, is heading for an appointment at the Office of Management and Budget along with Divya Kumaraiah from Airbnb and Brandon Belford from Lyft. These are just a few of the technology sector executives heading for government jobs in the Washington beltway.
A moderate Biden administration will tread lightly because of a fragile economy
With the US economy suffering from the coronavirus and another massive stimulus package on the horizon, President-elect Biden and his team could call off the dogs in the House and Senate regarding onerous regulations on the technology sector. Corporate taxes are likely to rise, but if the Republicans maintain control of the Senate, it could temper corporate increases in 2021 and beyond.
We are likely to see a bit more regulation and higher taxes on the tech industry over the coming two years before the US midterm elections. However, the incoming President’s team’s composition suggests that it will tread lightly because of the fragile economy and ties to the companies that are currently in the crosshairs of some politicians. Moreover, handing the technology power to the Chinese is a matter of national security for the US and Europe, which is a powerful argument for the advocates of the status quo in the technology sector.
Want More Great Investing Ideas?
9 “MUST OWN” Growth Stocks for 2021
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AMZN shares were trading at $3,162.64 per share on Tuesday morning, down $5.40 (-0.17%). Year-to-date, AMZN has gained 71.15%, versus a 15.41% rise in the benchmark S&P 500 index during the same period.
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Best Commercial Mop and Bucket
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If you buy something through our links, we may earn money from our affiliate partners. Learn more.
It is important to keep your businesses clean and tidy. As a business owner, you will need to make sure your office or shop is cleaned regularly and maintained to ensure your employees are happy, healthy, and productive. This will also help in making sure you leave a good first impression on your customers.
Whether you run a small business or large workshop, a mop bucket and wringer come in handy for everything from daily cleaning to doing away with surprise messes.
Commercial floor cleaning buckets help keep floors clean and safe. Unlike those for home use, these industrial-strength versions hold more water and come with strong wheels, so users can cover larger spaces with ease.
Our guide below will help you cover the best commercial mop and bucket options for your business.
Best Commercial Mop and Bucket
Rubbermaid Commercial Wavebrake Mopping System
Top Pick: This 21-pound commercial bucket has a 35-quart capacity and a rating of over 40,000 wringing cycles according to the company. It secures mops firmly and is also equipped with its own foot-operated built-in drain to easily get rid of the contents without lifting the bucket. The side press wrings mops with 18% less effort. A compact design (23.1 x 16 x 38.1 inches) and side press wrings mops with 18% less effort and also helps to reduce splashing by up to 18%.
Rubbermaid Commercial Wavebrake Mopping System Bucket and Side-Press Wringer Combo
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Carlisle Commercial Mop Bucket
Runner Up: This 26-quart capacity commercial bucket is made with corrosion-resistant polyethylene and can withstand temperatures from -40F to 180F. Non-marking swivel casters make for easy cleaning and mobility. The buckets come in different colors to comply with a color-coded system for identifying specific cleaning areas.
Weighing 14.5 pounds this mop bucket has a 50,000-cycle side-press wringer. The compact design (18.11 x 14.57 x 16.5 inches) makes for easy storage and convenience for tight-fitting environments.
Carlisle Commercial Mop Bucket with Side Press Wringer, 26 Quart Capacity, Red
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Amazon Basics Commercial Mop Bucket on Wheels
Best Value: The Amazon basics commercial mop bucket is made with Polypropylene and weighs 15.71 pounds. It has a 35-quart capacity and comes with a side-press wringer and a jaw mop holder.
This bucket comes with four rolling casters designed for easy and convenient mobility. With this bucket, you can simply snap the mop in place to keep it stable in the bucket while moving. The wringer works with fan mop holders which are designed to send water back down into the bucket with ease.
AmazonBasics Side Press Wringer Combo Commercial Mop Bucket on Wheels, 35 Quart, Yellow
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Hero EZ-Lift Dual Cavity Commercial Mop Bucket
The dual cavity of this bucket includes a 36-quart dirty water side and a nine-gallon cleaning bucket. This will reduce cross-contamination while using less floor cleaner. The side press wringer is certified for more than 31,000 wringing cycles, ensuring years of operations.
The non-marking bayonet wheels with cast-metal leave no marks on the floor. And the wheel guards will protect the wheels for long-life.
Hero EZ-Lift Dual Cavity Commercial Mop Bucket with Wringer on Wheels, Includes Dirty Water Bucket
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Rubbermaid Commercial HYGEN Press Wring Bucket
This flat mop bucket is for heavy commercial and industrial use. The no-touch wringing mechanism with a washboard surface removes dirt and debris from the mop pad before wringing. And the twists valve empties the dirty content without lifting for added hygiene.
The bucket is made with a smooth, non-porous surface to prevent bacterial growth and easy cleanup. And the non-marking casters won’t damage your floors.
Rubbermaid Commercial HYGEN Press Wring Bucket for Microfiber Flat Mops, Yellow
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Simpli-Magic Commercial Mop Bucket
With a 50,000-cycle wringer, this mob bucket is designed to last. The bucket is made from corrosion-resistant polyethylene capable of handling temperatures from -40°F to 180°F. The compact design has a 26-quart capacity sitting on top of four non-marking swivel casters.
Simpli-Magic Commercial Mop Bucket with Side Press Wringer, 26 Quart, Yellow
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Dryser Commercial Side Press Wringer
The spill-proof design of the Dryser mop bucket has a 33-quart capacity. This includes a rugged construction with anti-corrosive polyethylene web-molded body to keep its strength. The ergonomic wringer handle comes with premium steel and a spill-resistant side press for easy operation and minimal effort.
Dryser Commercial Side Press Wringer Combo Mop Bucket, 33 Quart, Yellow
Buy on Amazon
How to choose your mop and bucket
An important feature to always look for while deciding to purchase a commercial cleaning bucket is to look for a strong, durable product that will last for years no matter which design you decide upon.
- Size: The larger the cleaning mop bucket, the more cleaning solution there is to clean dirt and grime. Find a size that is easy for our employees to use and store.
- Mobility: It is important your cleaning bucket affords you good mobility. Make sure your bucket comes with non-marking swivel casters that will not damage your floors.
- Dual compartment buckets: help to separate the dirty water from the cleaning solution. The design makes cleaning more efficient because you do not have to go back and forth to empty the dirty water.
- Easy drain buckets: make the job easier for your staff. This means they will not have to lift a heavy and wet object that is potentially dangerous.
- Warranty: Like any workplace equipment it is important that your cleaning bucket supplier comes with a warranty. At the very least look for a solid return policy.
Cleaning
Mopping may seem like a simple chore, but it is important to use the right tools. This includes a good mop, bucket, wringer, and caution wet floor signs. With these tools, you can quickly and efficiently clean up your business. And it all starts with a good quality commercial mop and bucket.
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Images: Amazon.com
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48% of Small Businesses Fear Closing for Good
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Despite optimism during this holiday shopping season, 48% of small businesses fear they won’t make enough money during the rest of Q4 to stay afloat. This according to the Alignable Revenue Poll.
The sobering number from Alignable’s recent poll indicates small businesses are still not out of the woods when it comes to a post-COVID-19 recovery.
48% of Small Businesses Fear Closing for Good
Two months ago Alignable’s polls found pessimism among small businesses was at 42%. The latest poll results indicate the convergence of several factors that have added to the woes of small businesses. This includes the resurgence of COVID-19, elevated customer fears, and a surge in online shopping at Amazon and other national e-commerce giants.
Additional findings of the poll include:
- Some 50% of retailers could close for good and that figure is up from 45% only two months ago.
- 47% of small Business to Business (B2B) firms are struggling to keep the lights on and might not make it to next year. This is up by nine percentile points from September where the figure was just 38%.
- Among those hard hit are those in the travel and hospitality sector where 62% say they might not survive in the next three months.
- Others who expressed their concerns include owners of gyms (61%), beauty salons (60%), health and wellness shops and spas (46%), restaurants (45%), marketing and advertising agencies (45%), entertainment companies (43%), construction businesses (38%), law offices (36%), and even accounting firms (25%).
- Those seeking some form of support to weather the storm are shops and services with closure risks of 45% to 62%.
How Business Can Get Back their Customers
Despite the hard times ahead small businesses will need to dig deep to get their balance sheets back in the black.
One is to continue their engagements with their customers by reaching out to them online or through other channels. This will include providing information on what high sought goods and services are available to them. Also make sure you let them on discounts, holiday discounts and other promotions that customers can capitalize on.
Your message should also include allaying concerns regarding safety precautions your business has put in place as well.
Image: Depositphotos.com
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Facebook Will Launch Its Digital Currency Libra in January
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Libra would be a stablecoin and would be released in the month of January. Its value would be backed by the US dollar.
2 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.
Facebook’s digital currency project, Libra, will be released in January and its value will be backed by the US dollar.
According to information from the Financial Times, a year and a half ago Facebook wanted to launch a cryptocurrency that was similar to Bitcoin, which it called Libra, after some companies such as Visa and Mastercard withdrew from the project, and given the concerns expressed by some banks and financial institutions, As well as the European Union, in April of last year The Libra Association introduced changes that made Libra more of a PayPal-type payment system.
This project is still awaiting approval from FINMA (the Swiss-based Financial Market Supervisory Authority) and now it seems that it will also not be a payments system that is launched in January 2021, but rather a stablecoin.
A stablecoin is a virtual currency much less volatile than cryptocurrencies such as Bitcoin, since its value is fixed. In this case, it will be backed by the US dollar. Therefore, a Libra would have the same value as a dollar. That is, its value will depend on what the dollar is worth.
Depositphotos.com
The launch would take place only in the United States and in some Latin American countries. The goal, sources say, is to use the currency to offer a cross-platform payment system. Having a stablecoin, it is easier to get approved than with the volatility of a cryptocurrency. The project would also include the digital wallet Novi (previously called Calibra), from which stablecoins could be acquired and operated, for example, on WhatsApp and Messenger, in a way that allows the sending, reception and administration of the new cryptocurrency .
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40% of Americans Use Cash Less Frequently in 2020
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Since the COVID-19 outbreak, more than 40% of Americans say they use cashless frequently this year. This according to research data analysis by Comprar Acciones for the third quarter of 2020. When it comes to GenX the decrease in cash usage is down by 53% and it goes up to 64% for those with incomes higher than 150K.
Hardly surprising since more people are trying to limit their point of contact. For small businesses, this means implementing contactless payment solutions along with curbside and delivery services as part of their operations.
Finding the right balance of safety and convenience is key to keep customers happy and coming back. But the one constant is, the adoption rate of contactless payments is increasing.
Adoption Rate of Contactless Payments
In the report, more than one in six of the respondents said they made their first contactless payment after the pandemic started.
The highest adoption rate comes courtesy of Gen Z at 25% with millennials following at 23%. On the other hand, baby boomers came in at 10% with the lowest adoption rate. As far as existing users, 29% said they increased their usage during the pandemic. In this case, the highest users come from millennials at 40% and Gen X at 39%.
Globally, the segment is going to grow at a compound annual growth rate (CAGR) of 19.8% from 2020 to 2027. This is from the $1.06 trillion transaction value of contactless payments in 2019.
Countries around the world are also passing legislation to support the technology. According to the report, 48 countries increased spending limits on touchless transactions. This comes out to an average of 131% increase in transaction limits after the pandemic.
Another data point from the report is the growth of PayPal. The company experienced its strongest growth ever in payment volume during the past quarter. With a 36% YoY volume increase, PayPal reached $247 billion this quarter, up from $179 billion in Q3 2019. The 15 million new accounts also did not hurt, which now brings the total to 361 million.
Payment Flexibility
The large growth of PayPal in the third quarter, as well as the number of people using contactless payment solutions, shows consumers want more ways to pay. As a small business, payment flexibility is key to staying competitive as we move from the pandemic.
Image: compraracciones.com
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3 reports that every entrepreneur should generate in their business
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8 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.
Opinions expressed by Entrepreneur contributors are their own.
Editor’s Note: The following excerpt is from the book Total Alignment by Riaz Khadem and Linda Khadem.
The three reports that every manager should use are part of a reporting system that was first described in our book, One Page Management . They are ideal for keeping track of alignment in an organization. Let’s take a closer look at what those three reports can do for you and your teams.
The Focus Report
Report: Depositphotos.com
The Focus Report shows an employee’s performance in relation to the actual status of each of the process indicators assigned to him. The “state” of those indicators is the number that shows the result of the indicator in the previous reporting period. For example, suppose the metric on a scorecard is “Customer Returns Rate” and the return rate for April was 3 percent. Then the status of this metric in your May Focus Report would show that employee performance is 3 percent in the status column. This lets you know how your employee is performing so you can help align their efforts to improve the indicator.
When your status is assessed against some agreed upon criteria, you can determine whether it was “good” or “bad.” We like to use goals to establish those criteria. So for each critical factor on a scorecard, you will set three levels of objectives: minimal, satisfactory, and outstanding. The minimum target is the level below performance that is not acceptable. Satisfactory is the level that would make you feel good about your performance, and outstanding is the level of excellence.
For some factors, such as “number of units produced”, more is better. For other factors, such as “scrap percentage,” less is better. This is why you should set a “minimum or maximum target”. In this way, you can identify acceptable performance as being above the minimum level or below the maximum level, depending on the type of factor. With these criteria, you can determine three scenarios:
1. Excellent performance when the status is better than the pending objective.
2. Good performance or positive exception when status is better than satisfactory goal.
3. Poor performance or negative exception when the status is worse than the minimum target.
Besides “status” and “targets”, other important information is “trend”. The trend shows whether an employee’s status is getting better or worse. For example, your performance last month could be worse than the minimum, but the trend in the last five periods could be good. On the contrary, its performance last month could be better than satisfactory, but the trend could be bad. This is useful information.
Completing focus reports for your employees is a rewarding exercise. It allows you to reflect more deeply on the success factors you have assigned to them, the formula that defines them, the data that goes into your calculation, and the positive action they will require.
The Feedback Report
Image: Depositphotos.com
The second report is called the Feedback Report. This report is a summary of the “good news” and the “bad news” based on the status of your employee’s indicators. It illustrates the factors that have fallen below the unacceptable range in the state and those that are above the satisfactory level. Those that fall between the two are considered in the acceptable range.
This report also illustrates the number of time periods in a row where the factor has been better than the satisfactory goal or worse than the Min / Max goal. At a glance, you can see the feedback on your performance. You try to build feedback reports for each of your employees. Look at each factor on your Focus Report and compare their status to the goals you set for them. Consider whether it is better than the successful goal or worse than the minimum / maximum goal. You also need to take into account how many times in a row this factor has performed better than the successful goal or worse than the minimum / maximum goal.
The Management Report
Image: Depositphotos.com
As a manager, you will need to know the reality of what is happening in your pyramid of responsibility, from the bottom up and from the top down. To do this, you can study the individual focus reports of those who report to you directly and indirectly, although this could be time consuming and ineffective. To provide you with performance insights in a more useful way, there is a third report, the Management Report, which gives you a quick overview of the highlights of the Feedback Reports from everyone in your accountability pyramid, the people who inform you directly and indirectly.
This approach is “management by exception”. What does that mean? People who perform within the acceptable range will not appear in this report; they are doing a satisfying job, and at this point you have little need to address their individual performance. But star performers as well as those who are having challenges will show up. You are looking for the exceptions at both ends of the performance spectrum in this report. Obviously, reporting on all exceptions in the Management Report would saturate this report and reduce its effectiveness. Therefore, an escalation scheme is built into the reporting system to determine which exceptions are reported upstream.
Based on a customizable escalation rule, positive and negative exceptions increase when they are recurring. The rule we recommend is two or more consecutive exceptions worse than the Min / Max level or above the satisfactory level to start moving up to the next level. Beyond that, the speed of the climb depends on the importance of the factor. Some can quickly climb to the next level after three consecutive exceptions and others more slowly.
The rationale for the escalation rule is that, for example, a supervisor who has a rebate problem may have little time to resolve it. If not, notification of the problem will escalate. The boss has a predetermined period of time to help him fix it. If the problem continues, the next level is alerted and so on. If it’s a serious problem and no one seems to have the answer, then the most important person in the organization finds out. Most likely it is a systemic problem that is beyond the control of the supervisor who is at fault. When the problem appears in your Management Report, you know that everyone has tried to fix it. Now you have the opportunity to step in and solve the problem.
You’ll get good news too: with the Management Report, performance is transparent. Outstanding performance is reported upward and the right person is recognized.
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How Fast is 5G? (INFOGRAPHIC)
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From new laws to make the 5G network safer, to conspiracy theories suggesting 5G towers spread COVId-19, 5G is no stranger to making the tech headlines. The fifth generation of wireless technology follows previous generations of mobile tech. 3D paved the way for the launch of smartphones, while 4G allowed for faster browsing.
5G is proving faster than ever, but just how much faster? And how will it impact small businesses?
To show exactly how fast the fifth generation of mobile tech is, Reviews.org, providers of brand reviews on products on connected home products and services, compiled an infographic.
How Fast is 5G?
The ‘Exactly How Fast is 5G?’ infographic illustrates the speed differences between 4G and 5G.
Perth to London Flight Duration?
According to the infographic, the speed difference between 4G and 5G isn’t merely a few megabytes. On the contrary, the infographic likens 4G to a 17-hour 20-minute flight from Perth to London and the same flight on 5G being 3-hours 50-minutes.
To compare the flight durations to mobile network speeds, Reviews.org sourced average download speeds from 4G and 5G networks from Opensignal. They then converted the difference in speeds to a non-stop flight from London to Perth.
4.5x Speed Bump
In a blog about the 5G speed infographic, Joe Hanlon, Managing Director of Reviews.org, sums up the difference in speeds:
“We could tell you that you can currently expect a 4.5x speed bump from 4G, and that the difference is up to about 200Mbps on average We could say that this is just the tip of the iceberg (and that my personal best 5G speed is 808Mbps).”
How will it affect Small Businesses?
In a business sense, 5G is good news. Not only will small businesses get faster connections, but latency – the time it takes to upload data – will be faster to. For small businesses, faster connection and latency will make online operations quicker. 5G also makes cloud SaaS services quicker, another major plus point for small businesses.
5G is also described as having the ability to improve security and innovation. As we all know, data hacks and other cybercrime can cripple small businesses. By detecting threats and enhancing cybersecurity, 5G will help protect small businesses. This in turn we mean small businesses can try new things and experiment with greater confidence.
With its power, speed, and different prices options, 5G will provide small businesses with the tools to innovate and disrupt, and even go head to head with the big players.
How Accessible is it in the United States?
5G Ultra Wideband began rolling out in the US in April 2019. Verizon currently offers 5G broadband internet known as 5G Home. 5G Ultra Wideband is currently available in areas of 57 cities across the United States.
Image: Depositphotos.com
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