Economic Development

Regulate technology in the workplace

Debate about social media in the enterprise is just so damn silly. It seems crazy to me to try to regulate technology in the workplace when the real harm (or benefit!) comes from the people using that technology. My recommendations to organizations are simple: Have guidelines about what you can and cannot do at work. Hold employees to a measurable standard for performance on the job. (Read cydcor articles about direct marketing) But don’t try to ban a specific set of social media technologies.Your guidelines should include advice about how to communicate in any medium, including face-to-face conversations, presentations at events, email, social media, online forums and chat rooms, and other forms of communication. Rather than putting restrictions on social media (that is, the technology), it’s better to focus on guiding the way people behave. Cydcor provides you enough informations about marketing.

The corporate guidelines should inform employees that they can’t reveal company secrets, they can’t use inside information to trade stock or influence prices, and they must be transparent and provide their real name and affiliation when communicating. As long as your employees get their work done in a satisfactory manner, there should be no need to regulate their minute-to-minute behavior. You don’t regulate how often people can use the restroom, when they can chat with a colleague in the hallway about their kids, or whether they use a mobile phone for company calls while taking a cigarette break, so why regulate how they interact via social media? If you have individual cases of people not getting their jobs done in a satisfactory manner, deal with that problem as the “people issue” it really is. If it persists after several warnings, fire the employee, but make sure your expectations were clear from the start..

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Franchise business opportunities

Before you buy a business:

• Study the disclosure document and proposed contract carefully.

• Interview current owners in person. (They should be listed in the disclosure document.) Visiting them in person may help you identify any that are “shills” — people paid to give favorable reports. Don’t rely on a list of references selected by the company because it may contain shills. Ask owners and operators how the information in the disclosure document matches their experiences with the company.

• Investigate claims about your potential earnings. Some companies may claim that you’ll earn a certain income or that existing franchisees or business opportunity purchasers earn a certain amount. Companies making earnings representations must provide you with the written basis for their claims. Be suspicious of any company that does not show you in writing how it computed its earnings claims.

• Sellers also must tell you in writing the number and percentage of owners who have done as well as they claim you will. Keep in mind that broad sales claims about successful areas of business — “Be a part of our $4 billion industry,” for example — may have no bearing on your likelihood of success. Also, recognize that once you buy the business, you may be competing with franchise owners or independent business people with more experience than you.

• Shop around. Compare franchises with other business opportunities. Some companies may offer benefits not available from the first company you considered. The Franchise Opportunities Handbook, published annually by the U.S. Department of Commerce, describes more than 1,400 companies that offer franchises. Contact those that interest you. Request their disclosure documents and compare their offerings.

• Listen carefully to the sales presentation. Some sales tactics should signal caution. For example, if you are pressured to sign immediately “because prices will go up tomorrow,” or “another buyer wants this deal,” slow down. A seller with a good offer doesn’t use high-pressure tactics. Under the FTC rule, the seller must wait at least 10 business days after giving you the required documents before accepting your money or signature on an agreement. Be wary if the salesperson makes the job sound too easy. The thought of “easy money” may be appealing, but success generally requires hard work.

• Get the seller’s promises in writing. Any oral promises you get from a salesperson should be written into the contract you sign. If the salesperson says one thing but the contract says nothing about it or says something different, it’s the contract that counts. If a seller balks at putting oral promises in writing, be alert to potential problems and consider doing business with another firm.

• Consider getting professional advice. Ask a lawyer, accountant, or business advisor to read the disclosure document and proposed contract. The money and time you spend on professional assistance and research — such as phone calls to current owners — could save you from a bad investment decision

Ticket markets

Ticket markets raise a large variety of pricing questions that are of substantial interest for theoretical economists. They also offer a unique laboratory experiment for empiricists because they exhibit rich sources of price variations. Prices vary because seats are different, because seats are located in different places, because performances take place on different dates, because venues offer different complementary goods, or because the promoter bundles several tickets together in a season ticket package such as New York Rangers Tickets, to name just a few examples.

Some of these pricing issues have received scant attention as applications of broader economic theories. In the last ten to twenty years, however, ticket pricing as such has started to receive more attention. This recent interest has produced a set of papers that cover both theoretical and empirical issues. What will surprise the reader who fancies these issues is that many of them have been studied in isolation. Surprisingly enough, these works rarely reference each other. In fact, there are many disjoint works on ticket pricing but no real literature per se on the topic.

In ticket markets, firms do not sell a homogeneous good since no two seats offer the same experience. One does not see or hear the same way from two different seats in the premises. These differences in visibility and hearing will depend mostly on the distance to the performance. In extreme situations, consumers are so far away that they can barely see the performance but rather experience it on nearby television screens. Firms will take these differences in product quality into account and will accordingly sell different seats at different prices. You can analyze some tickets such as Rogers Centre Tickets, Toyota Center Tickets, and Boston Opera House tickets as your own literature.

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