No business is immune to a crisis, but some recover better than others by avoiding these business mistakes.
Throughout the course of any technology business–from start-ups to established businesses–periodically, crisis hits. These crises could be related to finances, a key employee leaving, industry changes, and so on. There are three mistakes that most often affect a company’s ability to cope with and recover from a crisis.
Mistake #1 – Dissemination of Information
When things go south, there are often two information-related mistakes management makes. First, they ignore sharing information with employees, which churns the rumor mill. In many cases, the rumors that come about are far worse than reality and can lead to poor decision-making further down in the business structure. It is incredibly important to share information as quickly as possible, even if that is simply to state that you have no further information.
Second, when management does decide to tell employees what is going on, they often do not have a . . . . click here for full story
Due to COVID-19, employers and workers in our region are facing challenges of epic proportions.
During these unprecedented times, the LAEDC has established this LA Covid-19 Community Connectory which seeks to provide crucial resources for vulnerable residents, small businesses, and nonprofits. The Community Connectory:
Engages LAEDC’s award-winning staff of business assistance and layoff avoidance professionals to directly help employers overcome challenges, retain staff and position for economic recovery.
Spotlights a growing array of financial resources that directly support individuals, as well as programs to help businesses and community-based organizations.
Provides frequent analysis and economic outlooks from LAEDC’s Institute for Applied Economics to help all people in our region plan for economic recovery.
All the services of LA Community Connectory are provided at no charge, in keeping with LAEDC’s public-benefit mission, and true to our history of helping save over 240,000 direct jobs in LA County over the past 20 years.
We were throwing out our plastic bags – until suddenly the supermarkets don’t want our reusable bags brought into their stores any more. Even the most vocal anti-plastic critics are now relying on a soap or sanitizer pumped or poured from a plastic container. . . .
Rather than all out bans on plastic, are there ways to make them less harmful to the environment, more sustainable?
Single-use packaging can evolve towards lightweight cartridges used in conjunction with durable soap and sanitizer dispensers. The lighter package, which may not have ideal aesthetics, could be hidden inside a shroud or housing so that it is not visually jarring. The design of the dispenser itself can be optimized for minimal human contact, or even touchless, to help improve hygiene and sanitation. . . . what else? more
The LAEDC’s COVID-19 Economic Implications Briefing series continues next Monday, June 1st at 11:00 AM PDT. Bill Allen, LAEDC CEO, and the LAEDC’s Institute for Applied Economics (IAE) will discuss their findings on the economic implications for Los Angeles County related to this pandemic. Join us for this quick update to gather insight on your local economy. Space is limited, and registration is required.
We invite you to submit questions to firstname.lastname@example.org to have them answered on the webinar by the IAE team.
By registering to take part in this webinar you agree to receive regular updates from our organization about future events, data, research, programs and initiatives. When you receive such updates, you will be able to opt-out, if you wish to unsubscribe from future communications on behalf of the LAEDC.
Attend a Back to Business Webinar from the Valley Economic Alliance for answers and information regarding your Worker’s Comp and Health Insurance questions: Protecting Your Business in the New Business Environment: Special Topics Risk Management
Both reshoring and the deployment of automation have become more interesting to respondents. The survey reveals that 64% of manufacturers say they are likely to bring manufacturing production and sourcing back to North America, which is a 10% increase from the same sentiment reported in Thomas’ March survey of manufacturers. Another key finding shows that 25% of US manufacturers are considering expanding industrial automation as a result of COVID-19. . . . . full story click here
Technology companies are bringing their expertise to the fight against coronavirus. This week we saw even more companies contributing to the effort.
Optima: The need for specific consumer goods and hygiene products, pharmaceuticals and medical technology has increased exponentially. The broad-based Optima Group has responded to this development by supporting customers with special machine solutions which can be flexibly adapted to suit the new market requirements. A new website provides information about the portfolio. Anchor Harvey, an aluminum forging company with more than 30 years of experience forging products for the medical industry, has announced the expansion of the company’s medical industry forging capabilities to meet the increasing demand for emergency medical supplies during COVID-19. MaskForce Consortium: Recently, a consortium of Milwaukee-area manufacturers teamed up to help alleviate the shortage of N95 masks that hospital workers desperately need today. The group, which calls itself MaskForce, has accomplished a lot in only three weeks. They collaboratively designed an innovative mask with a replaceable filter that can be worn for hours without discomfort. One partner helped to speed regulatory approvals and sourced filter media. And another has set up a manufacturing cell to produce at least 50,000 masks. Stratasys, Inc. and Origin have signed an agreement in which Stratasys will market and promote Origin 3D-printed nasopharyngeal swabs to healthcare providers and other testing centers in the U.S. Origin plans to increase production from 100,000 per week to over a million per week in May.. more and details at link
Here are some of the big name tech companies that are hiring during the pandemic — many of which have more than 100 openings. Glassdoor, John Deere, Apple, Zynga, Facebook, Microsoft, Nvidia, Mathworks, Google, Zoom, GE Healthcare, Siemans, HP, and more click here to go to site for more details