Predicting The Business Landscape for 2016


2015 has been the year of the entrepreneur with new business models and start-ups constantly popping up. This is due, in part, to innovative use of technology, social media and extremely low-interest rates. 2015 indeed, is a great time to start a business. However, as 2015 is coming to a close you may wonder what the future holds for 2016. 


What technology trends will create unique new business opportunities and change the worldwide business landscape for better or worse. Although we cannot predict the future, we’re going to share with you my predictions for three important changes that should be taken into account before setting up a business in the new year. 

3-D Printing
3D printing makes it possible to create an object simply by creating a digital file through computer aided design (CAD). The software then sends it to the 3D printer where the image is split into 2-dimensional representations, these are then fed through the printer that builds the object layer by layer. A rise in popularity in 3-D printing has the potential to totally revolutionize the global business landscape. Basically, 3-D printing means that anyone anywhere in the world can produce an object they want or need pretty much on demand.


Global shipments of 3D printers were forecasted to grow an astonishing 98% by the end of 2015. In 2016, these sales are expected to double. Over the next several years, it is expected that the price of 3-D printers will decline while means of use will continue to expand. 


Big Data
For the most part, Big Data has mainly been used by larger organisations in order to get a grasp of consumer behaviour. However, this is changing, relatively quickly in fact. Digital marketers and many start-ups collect distinct information about customers, then this data is used to improve their strategy. All the while collection strategy and analysis techniques are improving so many organisations are becoming better at collecting and analysing data.


In the past, companies had so much data they actually struggled to mine it for the useful information. Now, enhanced analytics means that big data is a completely different ballgame. Big data is helping organisations meet their goals and objectives. It’s being used to help retailers predict their customer’s future purchases, for pre-targeting in advertising which generates additional traffic and incremental sales by targeting new customers. This only scratches the surface of how increasingly crucial and useful big data is becoming. 

Smartphone Resale Market

Smartphones are expensive. Yet consumers want their hands on new smartphones with exclusive features, without having to pay the large retail price. This has generated vast business opportunities. This is breathing new life in the mobile phone resale market, especially in markets emerging throughout South-east Asia and China. Additionally, businesses that offer services to help users unlock their iPhone iCloud accounts on second-hand phones are becoming increasingly popular. As the smartphone resale market continues to expand, business opportunities like this will continue to emerge.


What These Changes Mean

It is vital to understand how the business landscape is changing if you are an entrepreneur. Developing an understanding of new technology trends and adopting them before others are key to maximizing your potential earnings, whether you’re trying to figure out uses for big data or are planning to involve 3-D printing in your prototyping process.

Celebrating In The Workplace


Many leaders struggle when faced with a celebration in the workplace, and can be left wondering whether they should or not. The argument arises “why should we celebrate, people are already aware that we are succeeding” after yet another milestone has passed. The best answer is to get an equal balance between celebrating when necessary and not overdoing it. However, more than often celebrating when reaching a goal is forgotten about.


In procurement we regularly talk about how to maximise the effectiveness of your workforce, and this can be done through recognising and rewarding achievements.


Why should we celebrate progress?
There are two clear reasons for celebrating progress and this is to reinforce focus and momentum within your employees. During long and tedious projects, focus can get lost as employees concentrate on reaching an end goal. Employees can become engrossed and can easily miss the progress that they have made. It is very important for leaders to help employees to recognise the progress and rejuvenate their focus and team momentum.
 
How should you do it?
We have identified 7 simple components that will help you when considering and executing a workplace celebration.
  1. Base it on milestones.
In order to justify a celebration, you must understand the progress that has been made. Having a completed project plan will be an excellent reference, allowing you to see the milestones that were set and when they were achieved.


  1. Get the team involved.

Inform the entire team when a celebration is due and allow them to get involved in the process, from organising when and where its taking place, to selecting a gift. Giving this responsibility to participants who may not have had a direct involvement in the achievement will let them feel meaningful.

  1. Don’t be shy.
Don’t celebrate half heartedly. Let your employees know how much you appreciate their hard work, commitment and overall progress.


  1. Keep the celebration in perspective.
The purpose for the celebration should be clearly outlined. This is not an opportunity to celebrate everyone and everything. Make the individuals involved feel special.


  1. Be authentic.
There is little point in holding a celebration if you are unable to give them a genuine congratulations. If you are not feeling it, hold back on doing the celebration. Authenticity is vital.  


  1. Make it an event.
It doesn’t have to big or extravagant, but it does need to be an event. Spread the word around the office so everyone knows when it is.


  1. Consider gifts/rewards  
A gift can be a great surprise to add to any celebration. Why not consider a personalised card, vouchers or something else? This also relies on your office’s existing gift-giving culture. Remember that the gift should be appropriate for the specific achievement.


We hope that these suggestions will aid you in your celebration decision-making. When used effectively, celebrations can increase employee motivation, productivity and overall morale.

Is technology the answer to better productivity?



With Britain’s economy and employment levels growing much faster than other countries, productivity remains a key topic for improvement for businesses far and wide.   In a recent statement George Osborne expressed the importance of cracking the UK’s productivity puzzle in order to secure future prosperity.  Research has shown that the global financial crisis has had a negative effect on UK productivity levels. While this crisis is gradually improving, we cannot assume that our productivity levels will too.


Statistics show that even though the French shut down business during the summer holidays, they still produce more than the UK who work all year round.  A 2013 Government study provides additional support for this statement, revealing that French workers are operating at a 27% higher productivity rate per hour than UK workers.  This percentage is even higher when compared against Germany and America too.


However the ongoing investment and advancement in technology offers a promising opportunity for the productivity of the UK workforce. For example, the UK’s manufacturing sector has benefited from such technologies, allowing for them to produce 50% more than in 2009. Technology can be hugely advantageous for businesses and start-ups,  helping to reduce costs, provide access to new markets and enhance customer service. Globalisation has meant that local businesses can now be accessed worldwide, thanks to technology. This digital marketplace opens many doors for businesses, enabling them to sell their products nationally and even internationally.


Although there are a growing amount of success stories of businesses breaking into international markets, this is still not mirrored throughout the UK. Larger businesses think investing in IT and new digital innovations will guarantee them better business, but this is not the case. Businesses need to be more efficient when it comes to optimising these technologies in order to reap the rewards. The mixture of creativity, the right channels and data usage can create future opportunities.


The importance of an effective online presence is also crucial for businesses. However it is shocking to see that less than 30% of UK business have an effective online presence. Cloud-based computer file storage and sharing abilities now allow teams to collaborate across locations, providing much more flexibility. However the majority of businesses and employees understand the importance of the digital marketplace but are merely lacking the skills to take full advantage of these technological advancements.

The Government’s Digital Transformation Plan is the strategy we need to transform productivity. The extra focus on the role of digital technologies will be beneficial for the UK economy and help to drive productivity. If executed effectively the potential rewards for the UK are massive.  Future investments in IT systems and training is essential for the strategy to succeed. A change in behaviour and workplace culture is also needed for productivity to improve. There is no better time than now to implement these changes and get all businesses to embrace the technology at their fingertips.

What is the the best way to manage your online reputation?

Back in the 90’s before the great internet revolution, much of what we said and did was almost instantly forgotten. Our hobbies were only known by the people we did them with or told about them, not to mention job histories could not be found without references and CV’s. These days thanks to Google, social media and the internet in general, what we do is here to stay – without careful reputation management at least.

Whether you’ve ranted on Facebook after a particularly bad Monday, misspelt Tweets or had unflattering photos of your night out posted by your friends, it can be difficult to manage your online reputation, especially now social media archives it all for posterity. Managing your online reputation isn’t just about making sure any past online mishaps are hidden – it’s also about making sure you show your best side, coming across knowledgeable, confident, capable and internet-savvy.

Although there are a plethora of companies who will help you clean, protect and build a professional online reputation for a price, in reality you can do it yourself for free, here’s how:

1) Google

As with most things on the internet, reputation management starts with Google. The first thing you should do is search for yourself and not just on Google either, use every search engine out there as well as social networks and forums to find out everything there is (good and bad) about you on the internet.

Remember to search for your name, nicknames, maiden name, misspellings of your name – to be honest, it might even be a good idea to search for your first name coupled with some keywords. These should include things such as your hometown, current city, your employer, your university and your current occupation.

It is worth remembering that if a potential employer is going to search for you, they’d only have a limited about of information to go on. This would include your full name, email address, a phone number and possibly your social media handles. So it is important to focus your searches around these terms.

Also remember to make sure you scour through your old social media accounts, blogs and any forums you may have frequented – especially if there may be any damning posts or photos that you forgot about. Also it may be worth checking the Wayback Machine which is a way to see if any of your accounts or forum posts are archived on the internet.

Finally, remember your online persona is not just what you have personally put on the internet. Your friends, family and significant others are likely to have posted about you at some point too and they might not have been so vigilant with your online reputation.

2) Reinforce your Privacy Settings

After you’ve spent the initial time hunting down all the things on the internet you don’t want anyone to see, you need to start the process of getting them removed. The next move is to try and get those links/photos/blog posts taken down, or at the very least made private.

On Facebook, make sure your privacy settings are tightened up, this can easily be done in a few seconds and is an essential step. Limit the audience for statuses and posts you’ve shared to Friends-only, also click where it says ‘Limit Past Posts’ so that your past post will also be friends-only. This action cannot be undone, so make sure you don’t have a need to do have any of the posts public, however this saves a lot of time over doing it one post at a time.

On Twitter, open up Setting and click Security and Privacy. Here you can make your tweets private and then they can only be viewable by your followers and people you approve to follow you.

A quick word of warning though, employers and other potential online stalkers are smart, so just making your social media accounts private may not be enough. The only way to guarantee no one will see the content you don’t want out there is to have it removed or ask the person who uploaded it to take it down. As much as untagging yourself removes it from your profile, the photo still remains visible unless the original uploader takes it down. It also worth noting, you can ask Google to remove personal information from its search results, but this doesn’t apply to content you or others have put on the internet.

3) Change your Name?

This isn’t as drastic as it sounds, we don’t mean legally changing it or anything that dramatic. But having a work name which is a variation of your full name for professional purposes may be advisable. In the same way people in entertainment have ‘stage names’, a work name can provide a useful buffer against your personal internet life leaking into your professional internet life.

If your name is very hard to find online because it is quite a common one, like John Smith, choosing a variation to separate yourself from the millions of other more famous Mr Smith’s that will come up in a search can be advantageous. Adding a middle name or another initial to your professional can make it easier for future employers to find you and not a John Smith account dedicated to trolling someone they particularly hate on Twitter.

The best way to have a clear distinction between your personal and professional accounts is to changing both the name of your personal accounts and professional accounts. This way they will never get confused, for your personal account you could use a nickname or your first and middle names. For the professional accounts try using your full name, initials of your middle name and surname. This way it is unlikely someone will come across either account by mistake.

4) Online Brand Building

One of the best ways to manage your online reputation is to be proactive with your brand. Suppressing embarrassing content will only get you so far, in a way it is best to concentrate on your future and build new content you would want people to see. By adding new content in the form of new social network accounts, blog posts, articles and forum post, you can improve your professional standing online and even position yourself as a leader in a particular field. This is particularly important because Google looks for new content and weights it as being far more relevant than your university photos.

Here are our top tips for branding yourself online:

 – Start a blog or personal website. This doesn’t have to be a professional blog, although that’s preferable for your career, it could simply be a blog showing work safe posts about your life. Also consider purchasing the domain name for your name (although John Smith might be hard to aquire).

Professional Social Media Accounts. Create a separate Facebook for your professional identity, you can then add your boss, co-workers and colleagues, but make sure to post (interesting and work safe) content to this account. It will seem very suspicious if you never post anything to this profile and not to mention they’ll think your quite boring. If you’re going to join social networks do so under your professional identity, LinkedIn is a good example, as well as review sites like Amazon and Trip Adviser; alumni sites like Friend Reunited; and blogging sites like Tumblr. This lets your potential employer know you’re a well rounded person.

 – Be an Expert. As we said above, being an expert in your field can be very beneficial for not only your career but managing your online reputation. Getting placed in industry blogs or magazines can really help you out on both counts. It is particularly valuable to online reputation management as these publications are likely to have a much higher clout on Google and will show up first in search results. As well doing this, you can solidify your position as an expert by posting on industry specific forums, writing a blog as well as doing video blogs and through your social media interactions.

– A Word of Warning. Although you might think completely cleaning your online presence is the best thing to do, a completely blank or sterile presence is not ideal. It will make people suspect that you’re hiding something much worse than a few drunken uni pics. It will be obvious to anyone who does this sort of thing as a job that you’re cultivating it and they’re likely to search much harder. You want to reflect yourself in a way that shows your a professional, but you have a personality too.

5) Stay Vigilant

Finally, it is worth remembering a great online reputation is priceless, but it doesn’t take much to fall to pieces. Be on your guard, Google Alerts let you track search terms (such as your name), and be notified immediately when a new search with that term pops up. The Google Alerts page even has a handy “Me on the web” widget, which lets you create alerts for your name and email address.

Have separate email addresses.If you decide to go the route of different names or personal and professional profiles, use two different email addresses. Many social networks let people search users by email address or find users in their contact list (by email address). In fact, if you can, use separate everything for personal and professional accounts: separate phone numbers, separate names etc…

Be diplomatic.This is especially important if you’re managing the online reputation of a business: words carry about 10x as much weight, and 5x less humor, especially when they’re written down and posted on the Internet. Think before you post, especially if you’re responding to someone, and try to err on the side of “overly diplomatic.” Think about it this way: you’re not going to get in trouble for not tweeting something controversial.

FTSE slumps amid Eurozone uncertainty

Disappointing retail sales in the UK combined with a bleak economic outlook in the Eurozone have contributed to a decline in the price of shares for many of the leading companies on the FTSE.

The exchange fell by 18.3 points to 7010.11, following an unexpected drop in retail sales in March and a slump in German growth. The German DAX is down more than 1 per cent. Poor figures in French stocks are also adding to the pressure.

Uncertainty in Greece continues to cause instability in markets as the country runs out of time to resolve its economic crisis. The upcoming election in the UK is yet another source of uncertainty for some traders.

Positive movers included United Utilities, up 12.5p, Citigroup up 50p to 950p and Severn Trent up 17p. Tesco made a recovery of 2.4p, after their record breaking loss of £6.4bn. William Hill fell 3.6 per cent, after reporting a 19 per cent drop in first quarter profits.

Shares in the engineering firm Rolls-Royce were the best performer on the FTSE, up more than 4%, after the company announced a new chief executive.
In the currency markets the pound rose 0.64 per cent against the dollar and gained 0.75% against the euro.

UK retail sales were down 0.5% in March from February. Figures show that consumers are still cautious about spending.

Keith Richardson, managing director for retail at Lloyds Bank Commercial Banking said “Even with continued falls in fuel and food prices, consumers are responding to this current period of uncertainty by being just as careful about their own spending as they have been for the past few years.

“Despite the fact that Mother’s Day fell in March and Easter fell early in April, this wasn’t enough to bring forward any boost in spending into March, doing nothing to allay fears that while consumers may have a little more money in their pockets, they are spending it on leisure treats like eating out and going on holiday, rather than on High Street goods,” he said.

Alan Clarke, at Scotiabank, said: “The monthly data all point towards sluggish Q1 GDP next Tuesday, not the sort of reading that the coalition government will be hoping for.”

But Howard Archer, chief UK and European economist at IHS Global Insight, said that although the retail data was “disappointing”, wage growth and low inflation should bolster consumer spending over the coming months.

“Despite March’s weaker-than-expected performance, the prospects for retail sales and consumer spending look bright, as purchasing power has strengthened and should continue to do so,” Mr Archer said.

The Procurement Group

Join us...

and 2000+ other CFOs and FDs who are already enjoying our free resources and industry insights.

Subscribe: