Management top updates: Peter Drucker, Neilsen Europe and Harvard Business Review


Management top updates: Peter Drucker, Europe and Harvard Business Review

1. The rise of the modern convenience store in Europe by Mike Watkins

2. The Great Transformation – Managing Our Way to Prosperity – Global Peter Drucker Forum Vienna, November 13 and 14, 2014

3. The Marshmallow Test for Grownups by Ed Batista

1. The rise of the modern convenience store in Europe by Mike Watkins

The slow economic recovery in Europe hasn’t delivered as much positivity as consumers had expected, keeping optimism in short supply. Consumers remain cautious, and the economic turbulence of the last five years has changed shopper behaviour in the process. In short, shoppers have grown increasingly focused on value, cost and convenience—attributes that have sparked expansion in the discount trade channel, the development of smaller store formats in many countries and the creation of a new online channel in some countries.

Prior to the economic rebound, inflation and new space from large stores were the primary drivers of growth in Europe’s existing store formats. With a recovery still some way off, a new race to drive consumer packaged good (CPG) spend is underway, and this race is developing the modern convenience store.

The Modern Convenience Store

In the context of the changes brought on by the recession, more and more consumers are seeking shopping options that fall between full-fledged supermarkets and traditional convenience stores. In the U.K. for example, 70 percent of shoppers say they typically prefer to shop for food and drink on a weekly basis, suggesting that many may not visit larger, out-of-town stores. The “modern convenience store” will meet the lifestyle needs of consumers wishing to buy a range of food and drink “little and often” and for the next few days, rather than shopping at large supermarkets to hold them for the next two or three weeks. These new stores will have a smaller grocery range, but importantly more space for fresh foods: chilled foods, fresh fruit and vegetables, bakery and fresh meat and poultry. Fresh foods will account for up to 50 percent of the category sales in these stores.

Read the complete Article here: nielseninsights

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The Great Transformation – Managing Our Way to Prosperity  ~ Global Peter Drucker Forum Vienna, November 13 and 14, 2014

There is a broad consensus among economists that we enter 2014 in a period of limited economic recovery – even though it will be uneven by country and region and fraught with uncertainties.

A cyclical improvement of the global economy will provide an opportunity to address the huge structural issues that are still looming. They include: unsustainable debt levels, underfunded social security systems in the Western world, currency imbalances, increasing income inequalities, bloated and inefficient public administrations, and excessive short-termism in big business driven by a value destroying and outdated shareholder value philosophy.

With unemployment, and in particular, youth unemployment reaching historic dimensions, the idea of progress and continuous improvement of our living conditions is giving way to increasing future-angst.

On the other hand, there is hope that digital technologies will provide unprecedented opportunities for transforming everything – states, economies, businesses, and individual lives. These are the underlying generic technologies that spur the development in fields such as biotech, nanotechnology, robotics, alternative energy, and new manufacturing technologies like 3D printing. They have the potential to transform “old” industries as well as to create new ones. Yet the exponential development of ICTs is a double-edged sword. They could lead to a new industrial revolution by boosting innovation and creating new industries; or they might have a devastating effect on jobs and employment, if corporations continue to target primarily productivity enhancements and cost cutting.

Read the complete Event details and more information about PETER DRUCKER GLOBAL FORUM 2014 CLICK HERE

WEBSITE Link – http://www.druckerforum.org/

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The Marshmallow Test for Grownups by Ed Batista

Originally conducted by psychologist Walter Mischel in the late 1960s, the Stanford marshmallow test has become a touchstone of developmental psychology. Children at Stanford’s Bing Nursery School, aged four to six, were placed in a room furnished only with a table and chair. A single treat, selected by the child, was placed on the table. (In addition to marshmallows, the researchers also offered Oreo cookies and pretzel sticks.) Each child was told if they waited for 15 minutes before eating the treat, they would be given a second treat. Then they were left alone in the room.

Follow-up studies with the children later in adolescence showed a correlation between an ability to wait long enough to obtain a second treat and various forms of life success, such as higher SAT scores. And a 2011 fMRI study conducted on 59 original participants—now in their 40s—by Cornell’s B.J. Casey showed higher levels of brain activity in the prefrontal cortex among those participants who delayed immediate gratification in favor of a greater reward later on. This finding strikes me as particularly important because of the research that’s emerged over the last two decades on the critical role played by the prefrontal cortex in directing our attention and managing our emotions.

As adults we face a version of the marshmallow test nearly every waking minute of every day. We’re not tempted by sugary treats, but by our browser tabs, phones, tablets, and (soon) our watches—all the devices that connect us to the global delivery system for those blips of information that do to us what marshmallows do to preschoolers.

Sugary treats tempt us into unhealthy eating habits because the agricultural and commercial systems that meet our nutritional needs today are so vastly different from the environment in which we evolved as a species. Early humans lived in a calorie-poor world, and something like a piece of fruit was both rare and valuable. Our brains developed a response mechanism to these treats that reflected their value—a surge of interest and excitement, a feeling of reward and satisfaction—which we find tremendously pleasurable. But as we’ve reshaped the world around us, radically diminishing the cost and effort involved in obtaining calories, we still have the same brains we evolved thousands of years ago, and this mismatch is at the heart of why so many of us struggle to resist tempting foods that we know we shouldn’t eat.

Read the complete Blog post here Harvard Business Review CLICK HERE

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Ananth V

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