Month: March 2021

7 Principles for Exceptional Performance

There is an old proverb that states: tall oaks from little acorns grow. Businesses focus on an idea plus some develop into successful ventures. Back in 1997 a smaller group of entrepreneurs through the UK, as well as Ghanaian business partners, established the Blue Skies fruit processing factory in Ghana. The concept involved processing tropical fruit, chilling and air-freighting for the UK and elsewhere in Europe. Passenger planes were flying from Accra each evening with convenience of additional cargo, so transport was available.

Business success builds on a specific vision, but this has to be backed by proactive behavior and effective action. During the newbie there was ought to identify and overcome obstacles that will have prevented the newest company from achieving critical mass. As in many business situations, progress much simpler if stakeholders are identified, potential problems are avoided, and resources are focused effectively. With a completely operation, systems should be applied. By 1998 the Blue Skies business had began to export products.

One point out note is Blue Skies, just like ventures, required a team of men and women to overcome initial problems and assist the business grow. Initially, there were a must confirm the possible market, clarify essential measures in the distribution process and identify how to construct the factory. In nearly all organizations, there’s benefit in going through the network of connections that give rise to successful outcomes. This becomes increasingly crucial in modern business.

The Blue Skies story offers a useful illustration of successful investment in a very developing economy. The start-up highlights issues pertaining to individual initiative, teamwork and private resilience. There was also the must appreciate the wider social and cultural context. The Sustainable Agriculture Group from the World Bank included Blue Skies in a very guide to making value chains work with agribusiness in Sub Saharan Africa.

The guide observed that since 2000, the corporation has grown tremendously, expanding its value chain with many additional operations into its processing facilities. It goes onto note that several factors adding to Blue Skies’ success… including high numbers of trust, sharing of data, innovation, value addition, positioning collaboration, and risk mitigation. Blue Skies emphasizes prompt payment to farmers, the production of training and education on EurepGAP standards, certification of farmers, interest-free loans for dedicated farmers, and willingness to boost local road infrastructure to enhance access to farms by company trucks.

Looking time for 1997, we are able to see the steps that enabled a smaller start-up business to become a multi-national operation with production facilities inside a number of countries. The vision supplies the start point, but other guiding principles also help with long-term success.

The book, 7 Principles for Exceptional Performance explores the need for developing an obvious vision, based on a positive, proactive approach. This is the Second with the 7 Principles discussed inside the book, which challenges old assumptions and identifies the steps ultimately causing positive future change.

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Enterprise Blockchain Solutions

Despite the popular conviction that blockchain technology is designed to do cryptocurrency transactions and earn bitcoins, blockchain continues its entry into many aspects of life: social media marketing, gaming, healthcare, real-estate, while others. The technology plans to enhance work efficiency, spend less for businesses and improve customer experience.

Blockchain is a a digitalized database and yes it belongs to digital ledger technology (DLT), which means no central data store or administrative functionality. Why is it a bonus for an enterprise? Decentralization together with transparency, gives each participant a way to view all recorded data, ensure its security and track information.

Here are areas blockchain has entered and it has proven that technology will be worth relying on.

Supply chain management, for example, is usually a major yet vulnerable portion of the workflow of countless companies. Parties doing the process often don’t connect to each other directly yet still apply paper-based strategies to information collection and storage. Blockchain offers complete excretion of paperwork: documents flow becomes automated, digital certification must be used as well. More importantly, each authorized an associate the supply chain can track this product from the manufacturer for the consumer and stop counterfeit distribution.

Several American retail giants that encountered foodborne illnesses outbreaks and further food recalls, have implemented blockchain technology inside their food supply chains. Before, tracking one product took around few days minimum, these days a food item’s provenance could be identified for a couple of seconds.

Thus, blockchain solutions made the method of recall faster, better, and cost-saving. Meanwhile, customers also have experienced blockchain adoption of their hypermarkets. In Walmart’s Chinese stores, as an example, they could scan the QR code and acquire all the information about the merchandise: in the farm location towards the inspection certificates.

Healthcare could be the field where blockchain-based solutions have established themselves to be a highly secure and transparent means of keeping electronic health records (EHR). Both doctors and patients receive authorization to reach the records and make use of them at the appropriate time. In the same time, blockchain solutions are powered by smart contracts which enable EHR data privacy protection. Healthcare device data and clinical research are encrypted, insurance might be executed and stored, too. Another use case is prescription medicines and equipment supply chain control.

E-commerce increasingly requires blockchain technology. Again, supply chain can be a crucial aspect here: monitoring goods and managing supplies will often be challenging tasks but blockchain helps businesses manage their inventory well. Consumers who trust their funds and data to e-commerce organizations are involved about data security and transparency but this issue could be addressed with blockchain development. Even slight modifications in transaction are obvious with a blockchain, and tracking who produced mistake is not a problem anymore. It is also possible to execute crypto payments.

The next area is in fact related to cryptocurrency transactions. DeFi, short for decentralized finance, doesn’t only include simple assets transfer, but additionally refers to more difficult financial use cases. The implementation of blockchain leads to intermediary exclusion and, consequently, reduces costs. All transactions are encrypted and immutable, multi-step authentication mechanisms result in the system hard to get into for unauthorized members. Among recent novelties could be the opportunity to choose P2P lending services and digital banking.

Social media has possibility to be affected by blockchain too. Along with its global popularity as well as the ability to connect people around the globe, social media marketing is still at risk of account hacking, identity leakage and copyright infringement. To tackle those issues, blockchain offers author rights protection, digital identity verification and unbiased licensing.

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