April 2, 2016

Every business wants to grow. They want to become worth more (vertical growth) and they want to become bigger (horizontal growth). While this can be achieved through lengthy, hard work, there are also a number of shortcuts that can be taken. Organic growth, unfortunately, can be difficult and very slow. This is why so many businesses try to grow through mergers and acquisitions. This is a way to instantly expand the business, either horizontally or vertically or both.

Big corporations are notorious for always being on the lookout for an opportunity to acquire a different business or merge with it. In fact, in some of the largest companies, there are entire departments that focus on nothing but this. Generally speaking, they do so because:

• They want to diversify their offerings of products or services.

• They want to expand their reach in the market, effectively killing the competition.

• They want to strengthen their existing research facilities.

• They want to lower production costs.

Merger and Acquisition Strategies

There is a lot of software out there to help businesses with their merger and acquisition processes. This enables them, as well, to learn more about company mergers and the strategies that others have used in the past. Additionally, these software packages, which are usually online programs, tend to have lists available that show which companies are currently available for acquisition, or that are looking for merger. This is a really valuable tool for those who are looking to expand, as it enables them to gather enough intelligence before deciding what an appropriate next move would be.

Once one company identifies another company with which they want to perform a merger or acquisition, they have to think about next steps. First of all, they must decide whether they want to acquire the other company, which means that they totally take it over, or whether they want to merge, in which case both companies give and take a little bit. There are pros and cons to both options.

The pros of acquisitions include:

• The first company gets to keep all its staff members, as they do not have to reshuffle their organization to take in the old one.
• They will take over a piece of the market and, thereby, a piece of the competition, strengthening their own position.

The pros of mergers include:

• It is a friendly agreement, in which different types of talent join forces.
• It also allows for further market expansion, strengthening individual positions.

The cons of acquisitions include:

• They tend to be very risky. Only businesses that are at risk of failing tend to be available for acquisition.
• It is quite a hostile move, which can be hard on an ethical basis.

The cons of mergers include:

• A complete company reshuffle will have to be completed. This inevitably means that people in both original companies will lose their job.
• It can be difficult for two companies to properly merge and become one.

It is vital that you learn more about mergers and acquisitions before you decide to engage in one.

If you want your business to be successful in the globalized economy of today, you must be ready to innovate. Innovation is what will help you create a roadmap towards not just success, but the survival of your business. If you don’t use proper innovation management strategies in every element of your company or organization, you simply won’t be able to compete anymore.

What Is Innovation?

Many people believe that innovation is about coming up with a new product, but this is actually not true. Rather, it is about taking small steps that affect each part of the business, so that the company as a whole can develop and grow. Innovation never ends either, therefore. It is a continuous process that will only work if everybody is involved. It needs to be part of the culture of your organization, and not just your strategic manager. Anyone, from the janitor to the CEO, should be able to take part in innovation and should feel that their contributions are welcomed and respected.

What Is Innovation Management?

Somebody has to be responsible for the management of innovation. They need to make sure that people are able to put forward their ideas. There are multiple ways to achieve this, including:

• Open door policies

• Suggestion boxes

• Regular meetings

• The company’s intranet system

• Employee surveys and questionnaires

• Away days

• Corporate events

What matters is that everybody feels that they can put their ideas forward, and that they will be listened to. This does not mean that every idea also has to be implemented. Rather, it is about creating a culture in which everybody knows that they are equally valued, and that if an idea is not implemented, it is because the company as a whole agrees that it will not improve the current business model.

Innovation management is also about testing and implementation, but you won’t be able to get to that stage until you have changed the company culture.

Why Isn’t Everybody Innovating?

It is interesting to see that the vast majority of businesses know that innovation is hugely important, yet very few actually implement it as part of their business model. There are several reasons for this:

• Companies worry that they will be transformed in some sort of Google environment, with slides, relaxation rooms and free food for all.

• Companies still have a hierarchical culture, which means they simply cannot accept that the opinion at the lower end of the scale is as valuable as that of a senior manager.

• Companies don’t know how to get started on the process of innovation.

There are a number of consultants and specialists out there who will help you to transform your business into one that not just welcomes innovation, but embraces it. If you do want to make sure you remain competitive in this world, but you struggle to go about it alone, then these consultants are there to assist you. What isn’t an option, however, is to do nothing.

Imagine a situation in which negative reviews and comments are appearing online about you that are vindictive, invalid, unfair, or even simply untrue. That is a situation that many businesses face. It doesn’t mean, however, that you have to panic or throw in the towel believing that your business is now ruined. What you do have to do, however, is learn how you can mitigate the damage as much as possible.

Of course, doing nothing certainly isn’t an option either. Rather, you need to get help from a reputation management expert who will find out just how bad the damage is, and what the best course of action will be.

Three Management Approaches

• Approach the person who left the comment and ask them whether they would be willing to remove it. You can also contact the site owner and ask them to remove the comment, particularly if it is vulgar, threatening, inappropriate or offensive, or if it is very obvious that it is a malicious, vindictive comment. There are some people, known as ‘trolls’, who go out of their way simply to leave negative comments and if a site owner gets enough reports about a single person, their comments may be removed and they may be banned.

• Address the person directly. If you spot the comment very quickly, as you should if you monitor your reputation, then you have the chance to address the issue as well. However, you have to make sure that the response is appropriate, which can be very difficult to achieve. Make sure that, whatever you do, you don’t offer a standard, generic response. This will only inflame the writer more, who is expecting a personal reply. And make sure that there is no emotion in the post, except an apology from your side and a promise to try and resolve the problem.

• Ignore the situation. This is the least recommended option of all, but sometimes it does work. This is particularly true if you already have a very good reputation and your customers will know that the remark is inflammatory. Sometimes, if you address a problem, other people will start to get involved, and it can snowball out of control. Ignoring is a dangerous tactic, however, because your customers may also think that you don’t take them serious. Usually, a good approach is to respond once, asking the person to contact you directly through a private message, and to then not engage any further. Again, however, you should only do this under the guidance of an expert who is likely to know what the response is going to be.

Every situation you face is unique and will require a unique approach. Different strategies exist and each situation will need a different strategy. This is why it is so important to have a reputation management consultant on board who can help you. Don’t look for them once a problem arises, because you need to address is straight away.

Whenever there is a construction site, one issue that people have to face is how to manage restroom facilities. Luckily, there are now purpose made job site trailers available just for that purpose. These range from simple Portakabins to luxurious bathrooms with marble tops and more.

One of the other things site managers have to think about is that the facilities often have to move. This also means that they have to be disconnected and reconnected, all of which means that portability is very important. Luckily, those who rent out these types of facilities are also very much capable of reconfiguring the trailers and moving them to new locations.

Equipment Solutions for Common Job Site Problems

1. No existing toilet and no water or sewer. This means that the job site trailer has to be equipped with a wastewater holding tank, a water tank and a fresh-water flushing toilet. Usually, additional components are added to the trailer for the sink, although others can be fitted with a self-contained sink instead. In order for these trailers to work, they do have to be connected to the electricity network.
2. Existing restroom available, but no water or sewer. If someone already has a trailer with a restroom, but it isn’t hooked to water or sewer, a waste tank that holds 250 gallons should be fitted underneath the restroom. Additionally, a fresh water tank should be added, preferably one with an electric pump. Including these two elements will ensure that both the toilet and the sink can be supplied with water as well.
3. Limited space available and no water or sewer. In this case, a portable, small toilet should be added, which are perfect for areas that are low on space. There is no need for an external waste tank or water tank, as everything has already been built in. Similarly, a portable hand sanitizer dispenser or portable sink can be added. These are not suitable for heavy usage, however.
4. Existing toilet with water connection in place, but no sewer. In this case, a 250 gallon waste water tank can be added to the trailer. These are installed above the ground, usually underneath the trailer itself. This means that the ground is not disturbed and it also means that they are very easy and quick to install, while at the same time being hidden from sight.

If you don’t know what kind of system or technology you require, make sure you speak to a rental companies. Those who hire out jobsite trailers will also be more than happy to discuss your needs with you, and help you to identify which type is most suited for you.

If you work on a construction site, either because a new building is being constructed or an existing one is being renovated, there are plenty of opportunities out there to make sure that you can still use the restroom in comfort – and even in style!