Best Business Books to Read in 2018

As we further head into the new year, what are the best business books to read in 2018 ? With this in mind, we present links to many “best” business book lists. So, click a link below. And start reading a business book that interests you. 🙂 🙂 🙂 🙂

For comparison, take a look at Great Books to Read in 2017.

 

Best Business Books to Read in 2018

To access one or more of the “best’ links, click below. [Note: They appear in alphabetical order.]

 

Best Business Books of All Time

In addition to the lists recommending recent business books, there are lists citing the best business books of all time. Here are three such lists:

12 Best Business Books of All Time. From USA Today. This list is divided by category. Self-Improvement. Leadership and Management. Strategy. Marketing. Entrepreneurship. And General Business. Its number one for Marketing? Click the image for the full list of 12.

Best Business Books to Read in 2018

15 Best Business Books of All Time. From Business Insider. Its number one? Click the image for the full list of 15.

Best Business Books to Read in 2018

42 Best Business Books of All Time. From Book Authority. Based on Recommendations by Jeff Bezos, Warren Buffett, Eric Schmidt, Steve Jobs and 57 other experts. Its number one? Click the image for the full list of 42.

Best Business Books to Read in 2018

Posted in Career Useful Information, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 8: Putting It All Together | Tagged , , , , , , , | Leave a comment

Free Online Salary Surveys

As we have noted before realistic salary data are available. With our post  Looking for Retailing Salary Information?, we can review data for jobs in retailing. Now, we look at free online salary surveys from PayScale.

Free Online Salary Surveys

So, how about getting salary information tailored to us? If you answer yes, read on for free online salary surveys.

At PayScale’s salary survey Web site, there are three survey options:

  • Survey option 1, Current Job. “Let’s start building your report with the basics. Such as your job title, location, and experience. As of now, PayScale has collected salary and career data from 54+ million people, covering 16,000 unique job titles.”
  • Survey option 2, Job Offer. “Congratulations! You’ve been offered a job. Now, we’ll help you compare the offer to what you’re actually worth in the job market.”
  • Survey option 3, Just Exploring. This option emulates the “Current Job” survey.

Click the image to visit the salary survey site. Then, choose your survey option. And answer the questions. Then, see the results. You can take all of the surveys multiple times. How? Just modify your inputs.

Free Online Salary Surveys from PayScale
 

PayScale Salary Data for Employers

In addition to providing salary information, PayScale works with employers:

“Compensation, communication, and company culture are linked. With our cloud compensation management software, employers have their finger on the pulse of their talent markets. And that transforms the once dark art of compensation into a data-driven science.”

“Are you are a people manager at a small business or a compensation professional at a Fortune 500 firm, employee compensation strategy is part of your firm’s bottom line and success. Give us a few details and we’ll serve up solutions and content relevant to your comp situation.”

Here is an employer example involving minimum wages.

 
Finally, PayScale offers an Insight Lab for employers, as the chart shows.

Free Online Salary Surveys for Employers
 

Posted in Career Useful Information, Careers in Retailing, Part 5: Managing a Retail Business | Tagged , , , , | Leave a comment

Recognize Declining Retailers: Three Stages

As we read regularly, many retailers are having tough times. Today, we study how to recognize declining retailers: three stages of decline.

Previously, we discussed other types of failure. For example, see Reasons Why Many Startups Fail and Why Don’t Some Store-Based Retailers Get It?

According to Retail Dive, these retailers filed for bankruptcy projection in 2017. Many of the firms continue in a weakened state. But others have gone out of business:

Aerosoles
Alfred Angelo
BCBG Max Azria
Charming Charlie
Eastern Outfitters
Gander Mountain
Gordmans stores
Gymboree
Hhgregg
Papaya Clothing
Payless
Perfumania
RadioShack
Rue21
Styles For Less
The Limited
Toys R Us
True Religion
Vanity
Vitamin World
Wet Seal

Now, click the image for a description of each firm’s status.

Recognize Declining Retailers: Three Stages

And view CNN’s video on U.S. malls and shrinking retailers.

     

    Recognize Declining Retailers: Three Stages

    Though not always considered as such, data analytics must start with knowledge of what to monitor. In the case of declining retailers, it is essential to be aware of their stage of decline.

    With the preceding in mind, let’s look at the framework devised by Outcalt & Johnson: Retail Strategists. That firm operates Retail Turnaround Experts. And it founded the Retail Owners Institute.

    According to Outcalt and Johnson, eight “vital signs” indicate a retailer’s stage of decline. As shown in their chart, these vital signs can be placed into three stages:

    In stage one, retailers have entered decline. This is the best time to modify strategies and tactics. Why? Because it is easier to turn performance around. By the time retailers move to stage three, it may be too late to fix things. Why? Because the vital signs are so off, it may not be possible to successfully modify them.

    Recognize Declining Retailers: Three Stages
     

    Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business, Part 8: Putting It All Together | Tagged , , , , | 1 Comment

    Professions Perceived as Most Ethical – and Most Unethical

    Today, we discuss the professions perceived as most ethical – and most unethical. And this builds on our coverage of ethical firms and marketing practices: World’s Leading Ethical Retail Firms and Do Company Ethics Affect Consumer Behavior?

    For most of us, the leading study of ethics in the professions is from Gallup. Let’s look at its December 2017 U.S. poll results.
     

    U.S. Professions Perceived as Most Ethical – and Most Unethical

    For several years, Gallup has polled the American public to learn how the ethics of 22 different professions are perceived.

    Before reading further: Which professions do YOU view as the most ethical? And as the most unethical? In alphabetical order, here are the 22 professions:

    (1) Advertising practitioners. (2) Auto mechanics. (3) Bankers. (4) Business executives. (5) Car salespeople. (6) Clergy. (7) Day care providers. (8) Grade school teachers. (9) Judges. (10) Lawyers. (11) Lobbyists. (12) Local officeholders. (13) Medical doctors. (14) Members of Congress. (15) Military officers. (16) Newspaper reporters. (17) Nurses. (18) Nursing home operators. (19) Pharmacists. (20) Police officers. (21) State officeholders. (22) TV reporters.

    After doing your ranking, review Gallup’s December 2017 findings. And study this chart.

    Professions Perceived as Most Ethical - and Most Unethical

    As Gallup reports:

    “For the 16th consecutive year, Americans’ ratings of the honesty and ethics of 22 occupations finds nurses at the top. And more than eight in 10 (82%) Americans describe nurses’ ethics as ‘very high’ or ‘high.’ In contrast, about six in 10 Americans rate members of Congress (60%) and lobbyists (58%) as ‘very low’ or ‘low’.”

    “In sum, a majority of Americans rate six groups as ‘high’ or ‘very high’ for honesty and ethics. Besides nurses, that list includes military officers, grade school teachers, medical doctors, police officers, and pharmacists. Although the rating of pharmacists remains high, it fell 5 points from 2016. And this may reflect the opioid crisis.”

    In 2017, “only members of Congress and lobbyists get majority negative ratings. Yet, the other 14 occupations rate ‘average’. Lawyers, local officeholders, bankers, and auto mechanics have majority ‘average’ marks. Also, the public is divided between positive and average rankings for both judges and clergy. And these two groups require honesty and ethical standards.”

     

    Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 7: Communicating with the Customer | Tagged , , , , , | Leave a comment

    Influencer Marketing Keeps Evolving

    At the beginning of 2018, we offer another post on influencer marketing. With the growth of social media, influencer marketing is vital. Today, we examine how influencer marketing keeps evolving.

    To recap, these are two of our posts on this topic: Whom Do Internet Users Trust Most? and NRF’s Top 25 People Impacting Retail.
     

    Influencer Marketing Keeps Evolving

    Within a short period, influencer marketing has made its mark. And the variety and number of influencers are both growing. In addition, social media stars may outdo big-name celebrities.

    Consider these observations from Tom Hopkins. He is the Managing Director of One Productions. It is a video production firm based in Dublin, Ireland:

    “Did you know that 94% of marketers find influencer marketing effective? Research shows it can generate 11 times the ROI of traditional ads. Micro influencers (non-celebrities) have great power. It may exceed macro influencers (celebrities). People seem to trust non-celebrity bloggers. And 60% consult blogs, vlogs, and social media posts prior to purchases. Thus, I have devised this infographic. And it looks at the impact of influencer marketing.”

    The infographic reviews:

    • Influencer marketing stats.
    • Choosing influencers.
    • Influencer-generated engagement.
    • Trust in influence marketing.
    • Reach of influencers.
    • Impact of influencers.
    • Costs of influencer marketing.
    • Influencer marketing pricing models.

    Influencer Marketing Keeps Evolving -- Join the Revolution

    As A.T. Kearney reports. And as we have noted before:

    First. The shift from affluence to influence rises from these factors. Demographic shifts. Changing values. Hyper-connectivity. That rewrites rules of global consumer purchases. Second. As a result, the future mass market will thrive on this. Influence. Customizing. Trust. Third. Last, brands will appeal to consumers. Why? Because they use technology to influence and sell. And the ability to engage people will be key.”

    To conclude: Please, grasp your ability to influence. And your ability to be influenced.

    Posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Social Media and Retailing | Tagged , , , , | Leave a comment

    2017 American Personal Consumption Spending

    Due to a strong economy, 2017 saw an uptick in consumer spending. So how good a shopping year was it? Let’s look at 2017 American personal consumption spending.

     

    Good Times: 2017 American Personal Consumption Spending

    Before noting total-year spending, consider these posts:

    Now, on to some interesting 2017 U.S. spending data.

    According to 24/7 Wall St.:

    “American consumers spent $130.6 trillion through November 2017. That was a 2.7% increase over 2016. And personal spending by U.S. consumers accounts for two-thirds of all spending in the United States. Thus, it is the primary driver of economic growth. Spending on luxury goods such as yachts and private planes has risen. So has spending on necessary expenses such as housing, food, and health care. Additionally, due to better technology more Americans are able to afford televisions, internet access, and other consumer electronics. Changes in technology have also led some Americans to abandon certain outdated products and services altogether.”

    “To determine what Americans spent in 2017, we analyzed real personal consumption expenditures from January to November 2017 from the Bureau of Economic Analysis [BEA]. We chose 50 consumer categories that best represent what Americans spent in 2017. Money continues to circulate over the course of the year once it is spent. Thus, while personal consumption is a good reflection of how Americans spend their money, it far outweighs the total value of goods and services in the economy.”

    Click the 24/7 Wall St. logo to read its fully story. Then, check out the top five spending categories below the logo.

    2017 American Personal Consumption Spending -- Top 50 Categories
     

    Top Five Categories: 2017 American Personal Consumption Spending

    Here are 24/7 Wall St.’s top five spending categories based on BEA data.

    1. Occupied housing payments. 2017 spending: $19.39 trillion. Share of total expenditure: 14.85%. 1-year change: +1.24%. 10-year change: +14.01%.
    2. Groceries. 2017 spending: $7.89 trillion. Share of total expenditure: 6.04%. 1-year change: +2.49%. 10-year change: +5.14%.
    3. Physician and dental visits. 2017 spending: $6.68 trillion. Share of total expenditure: 5.12%. 1-year change: +4.40%. 10-year change: +25.80%.
    4. Restaurants and bars. 2017 spending: $5.61 trillion. Share of total expenditure: 4.30%. 1-year change: +0.84%. 10-year change: +15.65%.
    5. Clothing and footwear. 2017 spending: $4.24 trillion. Share of total expenditure: 3.25%. 1-year change: +2.01%. 10-year change: +19.08%.

     

    Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information | Tagged , , , | Leave a comment

    Cash Used to Be King — Now?

    Cash used to be king — now? As reported by the Federal Reserve Bank of San Francisco (FRBSF), in 2012, cash represented 40 percent of U.S. consumer spending. By 2016, this figure had fallen to 31 percent. Furthermore: “Most consumer payments are for small transactions. About 60 percent of in-person payments under $10 are made in cash, compared to 20 percent of in-person transactions for $25 or more.” As online and mobile shopping grow, cash use will drop even further.

    Firms of all types and sizes need to aware of these trends. AND plan accordingly.

     

    Cash Used to Be King — Now?

    Consider these FRBSF infographics.

    (1) Estimated aggregate volume and value shares of all payments (including bill payments and non-bill payments). Includes cash, check, credit cards, debit cards, other electronic payments made through bank accounts, and other payments

    Cash Used to Be King -- Now?

    (2) Cash used most often for payments less than $25. Credit and debit cards used more often for amounts between $25 and $100. Checks and electronic payments used more often for amounts of $100 and over.

    Cash Used to Be King -- Now?

    (3) Greater reliance on cash by households with an annual income of less than $50,000 per year.

    Cash Used to Be King -- Now?

    (4) Those under 35 years-of-age less apt to use cash than those over 35.

    Cash Used to Be King — Now?
     

    Posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing | Tagged , , , , | Leave a comment