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Customer Lifetime Value: The Most Important ROI Calculation You Will Ever Use
Customer Lifetime Value (CLV) is one of those buzz terms that may make you say, “Huh?” But, it doesn’t have to be. Seemingly, everywhere we turn, the term ROI (return on investment) is discussed. In this digital age, these analytics and calculations are much more accessible than they have ever been. Almost everything can be […]
Ice Bucket Challenge offers nonprofits a fundraising lesson
The ALS Association, seeking a cure through research for Lou Gehrig’s Disease, has absolutely gone viral with its “Ice Bucket Challenge.” Videos are all over social media and TV showing people from all walks of life dousing themselves with icy water to raise money for the cause. The results are stunning, with close to $100
Why Do Physicians Permit, If Not Encourage, Futile Medical Care?
The economics of health care are the awkward combination of cost and caring. In prior columns (see Sept. 5, 19, and 26 issues of The Central New York Business Journal) we have looked at the economics of health care based on the challenging questions from patients that Dr. Michael Kirsch, a practicing physician and newspaper
Employer-Reporting Requirements Under the Affordable Care Act
The Affordable Care Act (ACA) has not only redefined employee-benefit plan requirements, but also employer-reporting requirements. In 2015, CFOs and their human-resources managers will be faced with the need to manage unprecedented employee-level data tracking in order to comply with the latest aspect of the “Pay or Play” mandate. Prior to Jan. 1, 2015, employers
Career and Technical Diploma Approval By Regents Will Fill Thousands Of New York Jobs
New York state is in the midst of a middle-skills job crisis. When you look at help-wanted listings across our state, the positions being advertised are for computer-network specialists, electricians, machinists, welders, and high-tech manufacturing workers. We often hear from employers who say many job applicants for skilled labor or high-tech positions lack the necessary
CNY CEO: An interview with the leader of the Food Bank of CNY
Editors Note: CNY CEO is a new feature appearing regularly (about every month) in The Central New York Business Journal, authored by guest writer Jeff Knauss who is president of his own digital marketing firm. In each edition of CNY CEO, Jeff will chat with a different top executive of a Central New York business
Financial Leadership: Who’s in control?
Recently, a client business called in search of advice on how to transition its accounting department in light of a loyal and long-tenured employee nearing retirement. Just earlier this summer, a separate discussion centered around the right kind of hire for a department that is outgrowing the current chief of accounting and the related potential
OSHA Changes Reporting Requirements for Work-Related Accidents
On Sept. 11, 2014, the U.S. Department of Labor, Occupational Safety and Health Administration (OSHA), announced a final rule (https://www.osha.gov/recordkeeping2014/NAICSReporting.pdf) amending its injury and illness recording and reporting requirements. Although the rule has not yet been published in the Federal Register, it has been submitted for publication. The final rule will be effective on Jan. 1, 2015. The
Who should be making commitments in the sales process?
Are you in sales? If so, are you the one making commitments or is it the buyer? Who should be making commitments in the sales process? If you already follow a sales process, you may know the right answer to this question. Or you may be very surprised — without commitments and a sales process,
Learning About Ethical Leadership from College Students
Back-to-school season wasn’t just for those that headed back to formal classrooms. We should all take this opportunity to reset our minds to learning modes. But there is certainly great value that comes from classrooms. One of my favorite courses to teach at the Newhouse School at Syracuse University is ethics. The formal title of
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