Impact of Min Wage Increase / NYCHA Survey & Results

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See here NYCHA Survey and Results on Minimum Wage Increase

Key Ingredients For Successful Organizational Change

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As we approach the end of 2018, many of you are probably planning business transformations for the New Year. However, the loftier the goals, the more care needs to be given to the process in achieving them. All organizations today face the need for more frequent and ongoing change in order to maintain their competitive advantages and relevance in the the marketplace. But change is exceedingly difficult in today’s more complex business battlefield. In the Navy SEAL Teams, we operated in what we referred to as VUCA environments: volatile, uncertain, complex, ambiguous. Sounds just like modern business doesn’t it?

Five Key Ingredients

Successful change formulas involve (1) vision, (2) benefits, (3) sponsorship, (4) resources and (5) methodology. If any of these five ingredients are left out, the outcome won’t taste all that great. For example, if aligned vision is lacking confusion sets in quickly. The key word being aligned. If senior leaders have varying ideas of what success looks like, things get messy really fast. When the benefits aren’t clear (or not clearly communicated), ambivalence occurs. Without full sponsorship from leadership, resistance spreads. Without resources, frustration. Without a clear methodology and approach, procrastination becomes the norm.

Read more in Forbes article here.

The Biggest Surprises in NYC Dining in 2018

A dinner spread at Le Sia

“Serena Dai, editor of Eater NY: I suppose I shouldn’t be so surprised by this because the world is such a garbage fire, but it was interesting to see how quickly powerful people (and a lot of media) were to embrace the return of the Four Seasons Restaurant seemingly without any caveat. I guess I’m an optimist, which means I will always be a little bit surprised at how naive old-school power is. Did the 40 investors really think that Julian Niccolini’s past behavior wouldn’t impact perception of the restaurant among the new audience they were reportedly aiming to attract? Did they really think amazing food and a $30 million build-out could overcome years and years of baggage — now newly visible in the age of #MeToo — when nobody from the restaurant came out front to address the fact that the face of the restaurant is an admitted sexual assaulter? People can’t move forward without an apology, but here, there wasn’t even really that. Yes, it’s legendary; yes, it’s hugely influential. But we live in a different world now, and sometimes it is okay to pay our respects, and then lay a restaurant to rest.”

See more here.

Taco Bell’s Strategy to Win in Urban Markets Involves Delivery, Kiosks and Alcohol

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“Throughout its company history, Taco Bell has dominated with a development strategy that focused on sprawling suburban locations equipped with drive thrus wrapped around the side. That is beginning to change.

The gigantic American Mexican quick service chain has been testing a handful of small-format restaurant concepts, branded as Taco Bell Cantina and Urban In-Line restaurants, in various urban centers for the past three years. The Urban In-Line format is essentially a regular Taco Bell, modernized and shrunk to fit on a street corner. The Cantina format is similar but also features twists on the traditional menu, including alcoholic drinks and shared platters of food.

Both concepts are tailored for densely populated locations where the rent is overwhelming, the foot traffic is high, and there’s no space to fit a traditional Taco Bell unit.”

See more here.

 

Simple Tactics for Building a Solid Business Reputation

“According to new studies, one of the top ways you can go the extra mile for your customers is by personalizing their shopping experiences.

One report predicted that by 2020, the customer experience will be more important than price and product when it comes to setting your brand apart. And according to another source, this data is already starting to take effect. Forty-four percent of consumers said a personalized shopping experience would likely result in brand loyalty.

Going the extra mile for your customers by making sure their shopping experience is memorable isn’t just a recent trend, though. Treating customers as individuals has always been essential for business reputations. Who wants to talk to someone who is ushering them out the door? Some other ways you can show customers you care is by listening to complaints, rectifying problems, and establishing a loyalty program for small business.”

See more here.

84 Million U.S. Wine Drinkers Fit Into Six Wine-Buying Segments

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“Representing 10% of wine consumers, Engaged Explorers are identified as the younger population of wine buyers. These are the most frequent buyers and they spend the most on high-priced wines than any in the list of six. They are called explorers because they drink many wine styles, from many countries and regions.

At 19% of wine consumers, Premium Brand Suburbans are middle to older age. They spend much less on a bottle of wine than most wine consumers and they are hard wired into staying with wines and brands they know, and members in this group happen to know more about wine than any in the five other segments.

Contented Treaters make up 17% of wine buyers. Like the “Suburbans” this segment comprises middle to older aged, but this group is affluent; they spend up, but they also don’t consume nearly as much wine as their counterparts. They go for a broad range of wines and are interested in a wine’s origin.”

Read more here.

Designing a Chain Restaurant for 40 Million Travelers

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“The estimated 40,000,000 people that pass through Washington D.C’s Union Station annually were a major consideration throughout the 6-month development of one of its newest bars and restaurants. Legal Sea Bar (part of the 37-Restaurant Legal Sea Foods chain) opened this past July on the West side of the station’s mezzanine level, was designed with high traffic in mind.

And so the casual bar/restaurant combo is “primarily designed for people trying to catch a train.” Small details take travelers’ needs into account: there are designated areas to put suitcases aside where visitors are still able to keep an eye on them, sufficient space between tables to store luggage, and ample hooks underneath the bar for easier purse and backpack storage.”

Read more here.