5 Attributes to learn from LEGO toys about Structural Engineering

Every person adult or a school going kid or a toddler has a set of toys. Some of them, such as dolls or remote control cars, or soft toys, serve entertainment without inducing any thought process in the child’s mind. The mind of a child is developing at a very rapid pace as he/she is growing. They have an immaculate grasping power that enables them to learn quickly and enhances their ability to question them. Read More

4 Finance Options for Hoteliers Surviving the COVID-19 Crisis

1.   Ask your lender to modify your loan terms and defer payments.  During this difficult period it is important to conduct amicable, transparent, and frequent communication with all stakeholders. This includes lenders along with your corporate business attorney and certified public accountant, as well as your hotel franchise company and any third-party management company. If you are experiencing a severe financial hardship, reach out to your lender and appeal for a modification to the existing loan terms reflecting the new business realities of today and seeking a temporary deferral of monthly loan payments. 

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Strategic Innovation

Innovators don’t do different things, they do things differently. Innovation is part of the human DNA. Innovation distinguishes a leader from a  follower. Innovation refers to the activity of people or organizations to change themselves and their environment. It is the successful exploitation of new concepts and ideas that are brought to market, put into practice, maybe leading to new products, processes, systems,  attitudes, or services that improve something or add value. It involves an individual stance, an organizational process, and a social movement all put together. The need for the creative orientation may be due to unsatisfactory existing circumstances and conditions in the organization, new opportunities socially, or implementation of the latest technology.

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Make or Buy Decision

Make or Buy have increased progressively over the years. For example, the Fashion Industry (Nike) (all manufacturing outsourced), and Electronics  Industry-Cisco (major suppliers across the world), Apple (over 70% of components outsourced). Brands such as Hewlett-Packard and PalmOne collaborate with Asian suppliers on the design of their PDAs.

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