Corporate training is such an important cog for most organizations, yet it is often ignored due to sales pressures. Dale Carnegie is a top institute for teaching MBA, yet training courses at the college have rarely been a success. Most management training programmes can be categorized into four levels. At basic level, it is about the reaction of the trainees and how favourably they react to the programme. Next up, is the indoctrination of knowledge and skills during the time period. Then there is the level which enhances behavior. Finally, at top level, the organization gets the desired results post training. Unfortunately most trainees do not progress after the first two levels and this leads to high levels of attrition.

As per market research conducted by real estate and management consulting giant Jones Lang Lasalle, New Zealand is experiencing a massive boom in construction of high end tourist properties. Four Seasons and Ritz Carlton have joined in the queue. The country is also enjoying increased numbers of inbound tourists. China, India, Indonesia and Latin America are proving to be the top sources of tourists. Chinese tourists’ numbers have increased so much that a direct flight has started from Beijing to Auckland.

In order to develop the firm’s marketing strategy, a thorough business analysis must be undertaken. This data can help product strategy by understanding what customers like or not so new product launch may be considered. Hypothesis tests can be launched online to gauge the product pricing. Competitor study can be conducted to find out their strengths and weaknesses. One can also deduce brand awareness and identify ways to strengthen the same. Granular data can even be extracted to track potential customers in geographically close area.

Marketing strategies are being reworked to suit the present needs. Digital marketing is now something organizations are increasingly relying upon. Thus age old practices have evolved for the current scenario. Social media for example is proving to be a beacon for advertising whereas other forms are getting obsolete. Due to the digitization, recording is more stable now and opportunities are not being missed frequently. Ultimately, any firm’s success in marketing their product- digitally or conventionally- depends largely on the level of creativity and business innovation effected.

Business research anchored by the World Travel & Tourism Council (WTTC) has opened up some startling facts. There exist more than five million tourism jobs at present in the USA which is more than double of the numbers held by the banking industry. This report was launched at a convention in the town of Austin in Texas. About 8% of the country’s GDP was generated from the tourism sector. Also the sector has among the best ratios of number of jobs created per million dollars invested.

Discover is among the world’s predominant finance companies while being especially known for issuing cards. However, the organization also rates highly on employee engagement. In fact at Discover, nearly ninety percent of employees undertook a survey as part of internal business research to gauge effectiveness of process.  The motivation levels among employees is so high that about three-fourths of them have opted to work extra in related activities. This rate of success is phenomenal for a firm with more than fourteen thousand employees spread globally.

Amidst the pressures of running gargantuan operations, innovation often takes a backseat amongst big firms. One of the ways to break this ennui is to constantly engage with startups as they possess certain vitality. There are some typical ways in which large firms have teamed up fruitfully with startups. One of the ways, though inorganic is through acquisitions. Then there are accelerator programmes where big firms adopt startups on term basis and provide them training and development platforms. Further there are third party collaborations with startups where certain verticals or projects are leased out to them. There is the concept ofhackathonswhere creative minds are put to test on business, technological or societal issues. Sometimes even competitions are specifically designed for startups to compete in. Conferences and networking meets have been all time favourites for such engagement practices. Beyond such forums, specific meetings are often organized at entrepreneurship hotspots like Bangalore or Silicon Valley. Some large firms have specific programmes aimed at attracting startups as their customers. Some media are specifically designed to organize thought leadership aimed at startups. Special interest groups where members have particular interest areas bring similar minds together. They often eventually merge or collaborate with entrepreneurship networks. There are even informal groups based around coffee clubs or weekend hobby societies. Company sponsored incubator programmes are increasing in span. There are certain universities dedicated to fostering entrepreneurship and these universities get large firm grants especially for R & D purposes. The most unique initiative however is where entrepreneurs set up space within confines of the large firm’s office and develop their innovation. This culture rubs off on the employees who are encouraged to be more innovative.