People Respond To What's Inspected, Not What's Expected.

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Top Construction Project Challenges:

1. Cost Overruns: Due to inaccurate estimates and scope changes.

2. Schedule Delays: Caused by weather, material delays, and labor shortages.

3. Labor Shortages: Lead to delays and higher costs.

4. Design Errors: Result in rework and increased costs.

5. Regulatory Issues: Cause delays and legal complications.

6. Safety Risks: Lead to injuries and project delays.

7. Environmental Concerns: Require redesigns and delay projects.

8. Supply Chain Disruptions: Delay projects and raise costs.

9. Stakeholder Conflicts: Lead to disputes and delays.

10. Technology Integration: Resistance causes inefficiencies.

11. Risk Management: Poor planning leads to project failures.

12. Quality Control: Results in rework and legal issues.

13. Scope Creep: Causes budget overruns and delays.

14. Communication Breakdown: Leads to mistakes and conflicts.

15. Financial Management: Poor cash flow causes project stoppages.

- Mitigation: Effective planning, communication, risk management, and quality control are essential.

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Consistency is one of keys.

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Elettra Ghilardi Social Media Manager

How Much Does a Social Media Manager Cost - Elettra Ghilardi Social Media Manager

A Social Media Manager is a person who can help you gain further online visibility: When you start a new business, a brand new product or wh

A Social Media Manager is a person who can help you gain further online visibility: When you start a new business, a brand new product or when you simply feel you need more visibility on social networks.

Crisis management: how important is social media in a crisis?

Hi,

Welcome to my #2 blog post! I hope you enjoyed my previous post in which I wrote about creating your brand image and identity through social media. :)

This week, we’ll refer to crisis management. Crisis management is a part of public relations and it’s a process of dealing with some emergency situation. An important part of dealing with the crisis is social media.

Actually, when you think about it, many crises occur because organizations/companies don’t respond to the negative reviews and comments that people leave them on their social media accounts. I certainly think that a marketing team of a corporation thinks that it’s not a big deal when someone writes a rude comment about the products and services the corporation provides, so they do nothing regarding that question. And before they realize, they’re a step forward into downfall.

One good example of how to provide a customer service in an emergency is the situation when Sephora handled a crisis with the singer SZA. In April 2019, SZA tweeted that a Sephora employee called the security on her to stop her from stealing. She gained a lot of support, and people started tweeting how Sephora employees are rude and racist. Then, the official Sephora profile on twitter answered SZA’s tweet, and they let her know they are doing everything they can at the moment in order to clear the situation. A month later, Sephora posted on Facebook that all stores will be closed for an hour, because of a training of diversity. Clearly, SZA’s tweet encouraged whole Sephora’s team to do something about the customer’s service, which was, as we can see, terrible.

Sephora handled this situation pretty well, and they did the crucial things everyone needs to do, in order to get out of a crisis:

1. Value the customers’ comment and give them a feedback ASAP,

2. Imply that you’ll fix the situation ASAP;

3. Post about further steps taken in order to improve the customer service and satisfy every individual who comes into the store.

If every brand checked their social media multiple times a day, they would be able to prevent crises. With social media, “The customer is always right” upgraded to a new level. As a customer, if I’m not lazy to criticize a brand, then the brand should not be lazy to respond to me and give me feedback what will they do to improve the things I criticise.

After all, we all just look for some juciy drama on the Internet. And if we can’t find it, we create it ourselves. And companies should be aware of that!

References: 

“3 great examples of crisis management on social media” https://prconsultancy.org/3-great-examples-of-crisis-management-on-social-media/

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Key Performance Indicators, or KPIs, are a pertinent part of measuring the successes and failures of your business. Also known as a flash report or dashboard, a KPI allows business owners and managers to get an overview of how their business – or individual departments – is performing at any given time.

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How do you do property valuation as a real estate developer?

1. Market Analysis: Start by conducting a thorough market analysis to understand the current trends, demand, and supply dynamics in the local real estate market. This will help you identify potential opportunities and risks.

2. Property Inspection: Visit the property and conduct a detailed inspection to assess its condition, features, and potential for improvements or renovations. Take note of any repairs or maintenance that may be required.

3. Comparable Sales: Research recent sales of similar properties in the area to determine the market value. Look for properties that are similar in size, location, condition, and amenities. Analyze the sales prices, time on market, and any adjustments made for differences.

4. Income Analysis (if applicable): If you are evaluating an income-generating property, such as rental apartments or commercial buildings, analyze the income and expenses associated with the property. Calculate the net operating income (NOI) and apply an appropriate capitalization rate to estimate the value.

5. Development Potential: Assess the development potential of the property by considering factors such as zoning regulations, land use restrictions, and market demand for new construction or redevelopment projects. Determine if there are any limitations or opportunities for value-add strategies.

6. Financial Analysis: Perform a financial analysis to determine the profitability of the investment. Consider factors such as acquisition costs, financing options, operating expenses, potential rental or sales income, and projected returns on investment.

7. Risk Assessment: Evaluate the risks associated with the property, such as market volatility, potential legal or regulatory issues, environmental concerns, and any other factors that may impact the value or feasibility of the project

8. Decision Making: Based on the findings from the evaluation process, make an informed decision on whether to proceed with the property acquisition or development. Consider the potential returns, risks, and alignment with your overall investment strategy

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What are the causes of WeWork company bankruptcies?

1. Aggressive Expansion: WeWork's rapid growth and high-risk strategy led to significant overextension.

2. Leadership Issues: Adam Neumann's controversial leadership and governance practices contributed to the company's downfall.

3. Failed IPO: The failed IPO exposed financial vulnerabilities and led to a drastic reduction in valuation.

4. Pandemic Impact: COVID-19 severely affected demand for office spaces, compounding WeWork's financial issues.

5. Ongoing Financial Struggles: Despite efforts to stabilize, WeWork's substantial debts and lease obligations have continued to hamper its recovery efforts.

The story of WeWork is a cautionary tale about the risks of rapid expansion and the importance of sustainable business practices and transparent governance.

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One of the most important roles of a chief executive officer is analyzing every single unit of the company. The business unit analysis is an activity where a company reviews each unit to assess its effectiveness and efficiency.

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