Archive Search

Advanced Search

×

Warning

JUser: :_load: Unable to load user with ID: 2549

Search results
Tuesday, 26 January 2010 19:00

Risk quantification

Written by
When approaching risk financing decisions, the first step is to establish your foundation for risk appetite. (See part one of this series in last month’s issue.) Next, analyze a key risk or risks to investigate whether alternative mitigation strategies would be a better management approach. By leveraging the risk identification and prioritization elements of a risk management program, the key risks to model can be identified. “Examples of key risks include supply chain risks, political risk, fraud and commodity price risk,” says Keith DeCoster, managing director, Aon Risk Services. “If one of the key risks arising from the risk management…
Saturday, 26 December 2009 19:00

Game changers

Written by
Many companies become reactive when it comes to hiring talent. A position opens or a need arises, and the company’s leaders spring into action.That approach isn’t adequate for David Becker. As the founder, chairman, president and CEO of First Internet Bank of Indiana, he’s built his company from a start-up to 50 employees. To achieve growth, Becker has taken a vigilant, proactive approach to finding and hiring the best talent.“I’m a hands-off leader. I don’t get wrapped up in the details,” Becker says. “But as a general rule, the success of my company has been hiring and retaining very talented…
Saturday, 26 December 2009 19:00

The butterfly effect

Written by
To the employees who kept walking past it, the broken case of beer in the warehouse at Monarch Beverage Co. Inc. was a mess that they didn’t make and didn’t need to clean up. But to John Xenos, the puddle of beer was symbolic of a much larger problem. Thirty minutes had gone by and the mess was untouched. But instead of grabbing the first employee he could find and handing that person a mop, Xenos, the company’s general manager, decided it was time for a lesson. Phil Terry, Monarch’s CEO and executive vice president, picks up the story from…
Monday, 14 December 2009 19:00

Envisioning the vision

Written by
Your vision and values can be clearly stated on signs throughout your office, but in the end, it’s still more about what your employees think it is than what you say it is.It’s a lesson that Michael Evans has taken to heart at the American Institute of Toxicology Inc., a forensic testing and research company that does business as AIT Laboratories.As the founder, president and CEO, Evans says his job is to identify the vision and values for the company, and then communicate them to the company’s 325 employees with consistency and passion.“My real job is keeper of the culture,”…
Monday, 26 October 2009 20:00

Firm commitment

Written by
Paying a lawyer may be the last thing you want to think about. But when it comes to keeping your company afloat, seeking counsel can be your life vest. During troubled times, you need an adviser who understands your business and your leadership personality. While many CEOs see trips to the lawyer’s office in terms of dollar signs, keeping ahead of the legal curve will pay off in the long run. “Seeking legal advice can prevent small legal issues from becoming big, expensive legal problems,” says Byron Myers, chief managing partner, Ice Miller LLP. Your attorney can be a valuable…
Monday, 26 October 2009 20:00

The Stewart File

Written by
Born: Beaver Dam, Ky.Education: Bachelor of science in allied health sciences, Western Kentucky University; Master of health administration, University of LouisvilleWhat was your very first job? Registering patients in the emergency room at the (former) Norton Children’s Hospital in Louisville. You got to experience behind the desk an extremely busy inner-city emergency room. It got me excited about the potential of working in health care. I spent eight years as a respiratory therapist specializing in newborn ICU. I started my career in a clinical role before moving into management. Most of my career has been in cardiovascular service administration.Whom do…
Friday, 25 September 2009 20:00

Space exploration

Written by
By Carolyn LaWell Savvy CEOs are taking advantage of the slumping commercial real estate market by evaluating whether their space meets their needs while the cost to buy or lease is low. Commercial real estate prices fell again in the second quarter, showing an 18 percent national decrease compared to the previous quarter, according to Massachusetts Institute of Technology Center for Real Estate’s index. The drop placed the price index 39.2 percent below its 2007 second-quarter peak. Clearly, the market is experiencing volatility, but opportunities are presenting themselves. “With a stalled or slowing economy, demand is way off, and that…
Friday, 25 September 2009 20:00

Speaking up

Written by
Fred Klipsch is keenly aware of the power his words carry when he speaks to his employees at Klipsch Group Inc.“The one thing you can count on is, every time you talk to your employees and you tell them something, they are going to remember,” says Klipsch, the company’s chairman and CEO. “When the facts all become clear, they know whether they got the straight scoop or not.”When the national economy went into the tank in 2008, Klipsch knew changes needed to be made. He also knew that he had to be very forthcoming with employees about what they were…
Wednesday, 26 August 2009 20:00

Business exposure

Written by
This economy probably has your company facing heightened risks — risks that you might not be prepared for and that could ultimately cripple your business. The global economy is the No. 1 risk businesses say they face today, according to the Aon 2009 Global Risk Management Survey. But the survey points out that less than 66 percent of respondents have formally reviewed their major risks or have plans in place to deal with them, including the economic downturn. Now is a crucial time to have a detailed risk management program in place. After all, budgets are tight, you’re looking for…
Wednesday, 26 August 2009 20:00

The Shuel-Walker File

Written by
Born: IndianapolisEducation: University of Arizona, bachelor of arts in marketingWhat was your very first job? I worked here at HP. I filed and answered the phone. I was 16. My father, Donald Ames Shuel, started this business a long time ago. He bought the company back in 1964, and he began making it a success before I was born. He was instrumental in instilling a work ethic in my life. He has been a huge mentor in my life. He taught me the business.It was his vision to diversify product lines and to expand to other product categories, which has…
Sunday, 26 July 2009 20:00

Hidden costs

Written by
In response to current market conditions, many organizations are paying increased attention to carefully managing balance sheets in an effort to remain competitive or, in some cases, viable. Companies are taking steps to free up capital and cut costs while also trying to keep their work forces engaged and productive. In that climate, many employers are finding that health care programs present a cost reduction opportunity, as it’s their fastest-growing business expense. One way to reduce those costs is to make sure that you are only paying for dependents who meet the company’s eligibility guidelines for group medical benefits. Conducting…
Thursday, 25 June 2009 20:00

3 Questions

Written by
Chuck Johnson has nearly 25 years in education, training and human resource management. Johnson, who has been with Purdue University’s Krannert School of Management for 12 years, serves as director of executive education programs. He manages the administrative aspects of Krannert’s MBA programs for working professionals and teaches organizational behavior and human resource management courses, all while pursuing his Ph.D., which focuses on training and adult education. Q. How can a company determine effective training techniques to maximize training spending? To the extent possible, I’d encourage companies to develop longer-term partnerships with training and education providers. Identifying and establishing such…
Thursday, 25 June 2009 20:00

Improving performance

Written by
As health care costs continue to rise, employers are searching for progressive strategies to improve the performance of their health plans. One way to do that is with a worksite wellness program, which uses a variety of methods and incentives to reward employees for making healthy lifestyle choices. Incentives are typically activity-based, rewarding participants for doing things such as completing a health screening, and employers are now recognizing that they can gain tremendous savings by implementing a well-designed, achievement-based wellness program. “Achievement-based programs create a win-win situation for employers, employees and their families,” says Sally Stephens, president of Spectrum Health…
Tuesday, 26 May 2009 20:00

Insurance Directory

Written by
ADVANTAGE Health Solutions Inc. 9490 Priority Way W. Drive Indianapolis, IN 46240 (317) 573-2700 www.advantageplan.com Vicki Perry President and CEO About ADVANTAGE Health Solutions Inc. was founded in 2000 with less than 20,000 members and today is one of the fastest-growing health plans in Indiana. ADVANTAGE is owned by four area Catholic health systems. The company provides a broad range of products from HMO to consumer-driven health plans. Key products Health care, dental, vision, pharmacy, wellness Anthem Blue Cross and Blue Shield 220 Virginia Ave. Indianapolis, IN 46204 (800) 331-1476 www.anthem.com Robert W. Hillman President and general manager About Anthem…
Tuesday, 26 May 2009 20:00

Putting people first

Written by
Many leaders talk a good game when it comes to building relationships with their employees, but Denny Sponsel says that talk without action is cheap. Sponsel, president and owner of RJE Knoll Business Interiors Inc., says that you can talk all day about connecting with your employees, but the real test comes in how you seek that connection. You can engage your employees over something as simple as a coffee-break conversation, but you have to actively seek opportunities to speak with them and give them an opportunity to ask questions. “Some of our warehouse employees, if the president of the…
Saturday, 25 April 2009 20:00

The Ranger File

Written by
Born: Hamilton, OhioEducation: Technical associate degree, biomedical engineering, Ivy Tech; bachelor’s degree, business, Indiana WesleyanWhat was your very first job? Baling hay on a farm when I was 14. I went from baling hay to being a general farmhand and driving the wagons and doing all that kind of stuff. To be able to work and see what you do and produce, I wanted to be a farmer for years. When I was getting toward the end of my high school years, I graduated in 1975, home loans were about 16 percent. You had to have a farm to be…
Thursday, 26 March 2009 20:00

Empowering employees

Written by
When Bob Dillon bought Unique Home Solutions in 1993, it wasn’t because he had a great desire to own a business. Instead, he just wanted to be part of a company that cared for its employees. Since then, Dillon has evolved that philosophy into a process of empowering employees to reach their full potential. And that starts with realizing you have to delegate responsibility, teaching employees, talking them through problems and rewarding them for a job well done, says the president of Unique Home Solutions, who, along with his 125 employees, has grown the home improvement company to 2008 revenue…
Monday, 23 February 2009 19:00

Having care close at hand

Written by
As costs for business owners continue to rise, owners are welcoming new ideas and ways to reduce costs without affecting their company or employees. American employers faced with the rising cost of insuring their employees are turning to on-site clinics integrated with wellness to improve employee health, boost employee productivity and reduce their costs, says Sally Stephens, president of Spectrum Health Systems. According to David Beech, a senior health management consultant at Hewitt Associates Inc., “A clinic serving about 1,000 employees (usually considered a minimum number for critical mass) can expect to make hard-dollar savings of $70,000 in the first…
Monday, 26 January 2009 19:00

The place to be

Written by
Andy Medley has seen one too many executives model a culture after that of another company and then watch it fail because it didn’t fit the organization. To eliminate that potential problem at his three companies, the president of Trace Communications LLC and his partner, Scott Hill, decided to separate their companies from under one roof. That transition left them with the challenge of redefining a culture for the 35 employees at the printing company, which helps newspaper customers generate revenue. “The initial thing was looking at what are the things that are most important to us and what do…
Friday, 26 December 2008 19:00

The quest for greatness

Written by
Before you can begin a quest, you need a goal, so S. Sam Yadav makes sure his employees at Quest Environmental & Safety Products Inc. have goals to work toward. “Try to find out what the individual wants out of their career,” he says. “In individual meetings, I ask them personally, ‘What do you want from Quest to help you become the businessperson you want to be?’” Yadav, founder and president of Quest, has guided the developer of safety solutions to 2007 sales of $11 million and anticipates 2008 sales of between $12.5 million and $13 million. Smart Business spoke…
Tuesday, 25 November 2008 19:00

33 best management ideas

Written by
We’ve all had days where we would rather not open the newspaper, turn on the TV or pick up the phone for the fear of learning about more bad news. Unfortunately, there have been a lot more of those days for all of us lately. The stock market is going through extreme ups and downs, capital has dried up, and key customers are cutting back. You start to wonder where the sales are going to come from to enable you to make this quarter’s budget. If things don’t turn around soon, you’ll have to consider drastic cutbacks yourself. In times…
Sunday, 26 October 2008 20:00

E-mails and litigation

Written by
An October 2007 report by technology market research firm The Radicati Group estimates there were 1.2 billion e-mail users worldwide in 2007. The same study states that the average business user sent and received 600 e-mails each week that year. Apart from the technical burdens on companies to route and store all of those messages, companies must worry about what is contained in all those e-mails. This is particularly true when the companies, or their employees, become entangled in litigation and the e-mails become evidence. Smart Business spoke with Tony Paganelli, a litigation partner with Taft Stettinius & Hollister LLP…
Sunday, 26 October 2008 20:00

The power within

Written by
When Bill Corley needed help with part of a $170 million expansion, he turned to his employees. Corley, president and CEO of Community Health Network, a $1.17 billion health care provider, was overseeing the expansion of his Community Hospital North facility. The patient rooms needed to be as functional and comfortable as possible, so he sought out employee input to help make that happen. Rather than studying a pile of drab, lifeless blueprints, officials transformed a room at one of the company’s existing locations into a mock-up of the new accommodations. Employees were then asked to provide their feedback. “You…
Thursday, 25 September 2008 20:00

Joining forces

Written by
Mark Hall has always thought of himself as a co-worker rather than as an executive. Hall — founder, president and CEO of PinPoint Holdings Inc., which does business as PinPoint Resources — says that a business coach set him straight on that several years ago. “You have to understand that you cast a very long shadow and where your shadow lands has big impact,” says Hall, whose work force solutions firm posted 2007 revenue of $8.1 million. “The attitude of the leader determines the attitude of the pack. It is a conscious choice.” Smart Business spoke with Hall about the…
Tuesday, 26 August 2008 20:00

Words of wisdom

Written by
Tom Jackson enjoys the freedom that comes with running his own business.But, he says, there is also a responsibility that goes hand in hand with that freedom.“Most business owners like the flexibility and the opportunity to make good money,but if you don’t have a plan in place, that’s going to dry up and you won’t have those benefits,” says the co-founder and CEO of Jackson Systems LLC, an HVAC manufacturing and distribution company.To help him create that executive game plan, Jackson meets every other week with a business coach.Smart Business spoke with Jackson about how those meetings — and the …
Saturday, 26 July 2008 20:00

Plain language

Written by
John Rowe has two basic rules when it comes to communication: Keep it direct, and keep it simple. The president, managing director and co-owner of $24 million Cargo Services Inc., a global freight transportation provider, says effective business communicators put themselves in front of their employees — be it in-person or via electronic means — and offer straightforward messages that don’t get bogged down with excess language. And they don’t stop delivering the message until they are certain everyone understands it. Rowe says that a communication strategy built around understanding and plain language helps build trust between employees and management…
Saturday, 26 July 2008 20:00

Loud and clear

Written by
Robert Laikin does not mince words when asked to explain thesignificant slowdown in growth that Brightpoint Inc. experiencedfrom 1998 to 2002.“It was my fault as the CEO,” Laikin says.The wireless device distributor had grown swiftly in the yearsprior, hitting $1 billion in revenue in 1997 and $1.5 billion in 1998.The pace of growth slowed considerably over the next few years.The industry was consolidating and markets were shifting asBrightpoint sought to find its way through the changes.When 2004 rolled around, the company was still looking to getover the $2 billion mark in revenue.When everything is going great and revenue records are…
Page 5 of 5