The Lead, AchieveForum’s weekly brief of leadership news and insights, provides quick clarity into relevant headlines and straight-forward analysis for applying effective leadership tools and techniques.
Amazon could reshape America’s pharmacy business model in a variety of ways. Amazon’s shipping and logistics operations alone could devastate its rivals by starting its own mail-based drug-delivery business that cuts out drugstores and distributors.
Our View: Business leaders in all industries must be prepared to mitigate the impacts from costly supply chain disruptions. Company leaders should deploy different strategies in different settings or at different times in order to lessen the effects of disruption, because the straightforward solutions of increasing inventory, adding capacity, and having multiple suppliers can damage efforts to improve supply chain cost efficiency. Further Reading
Underexplored sites create opportunities for tourists to embrace the novelty of discovery without feeling like part of a crowd. Seven newly accessible world wonders are now available for visits, including an ancient capital in Morocco, the lost city of Colombia, and a lion-shaped fortress in Sri Lanka. These world wonders encourage travelers and locals alike to invest in preservation of enchanting historical sites.
Our View: Research findings show that shared leadership in a team setting could promote the creativity of that team. When people feel a sense of connection to the preservation of a common purpose, they work harder and more creatively to achieve the common goal. Further Reading
According to a corporate executive data provider called Equilar, median compensation for the nation’s top marketing executives jumped 24 percent in the five years ending in 2016 to $1,261,755 and nearly 200 leading marketing executives are among the top five highest-paid employees at their respective companies. Meanwhile, chief marketing officer tenure is decreasing as recorded by consulting firm Spencer Stuart.
Our View: Part of being a leader is knowing your worth, which is one of the many tips career coaches have for negotiating salary. Other tips include that you should seek agreement on your achievements before asking for a raise, you shouldn’t make demands or ultimatums, and you should conduct thorough research prior to a salary negotiation. Further Reading
Entering with a sonic boom that was heard over a large part of central Florida, a military “space plane” returned to Earth after two years in orbit. While little is known about this classified plane, the program manager for the experimental X-37B aircraft, Lt. Col. Ron Fehlen, said that the team is “excited about the data gathered to support the scientific and space communities.”
Our View: Leaders must protect classified information, and in today’s digital world, information security is an evolving challenge. If sensitive data and systems are breached, organizations become vulnerable to harm such as the compromising of customers, partners, and other stakeholders. Digital documents that contain confidential data should be updated to be more trackable, controllable, and secure. Further Reading
Ikea, the Swedish furniture giant, found that costs increased at Ikea U.K. after last year’s Brexit. Ikea’s U.K. and Ireland head, Gillian Drakeford, said, “to keep our range accessible and affordable for the many, we absorbed most of these costs, increasing prices by just 3.6 percent.”
Our View: External factors that can impact your business include the economy, finance, weather, laws, infrastructure, trends, and customer base. The global economy is influenced by politics, terrorism attacks, wars, and currency devaluation, and all of these external factors impact most commercial enterprises. Scenario and contingency planning can help prepare your organization to mitigate the effects of external factors. Further Reading