The interest-based credit approach

On April 26, 2010, in making money, money advice, money issues, money management, money problems, by admin
0

I’ve worked with many organizations to implement what I call interest-based problem solving. One such client was the Waldorf Corporation, headquartered in St. Paul, Minnesota. This company makes packaging for huge corporate clients, from Land O’Lakes to Legos, from 3M to Hormel. They recycle paper products and work with governments around the globe in wastepaper recycling efforts.

Dedicated to forging partnerships with clients the world over, management has also formed partnerships with four unions in an effort to foster win-win relationships. Their interest-based activities have focused on prioritizing and then finding ways to satisfy the interests of each side.

The interest-based approach was used with the Dairyland Power Cooperative in Wisconsin in 1995 to negotiate agreements between unions and the company management. In this case the goal was to transform the mission statement originally approved by the labor/management committee in 1992 into a reality. Essentially both sides were bound by an agreement to use “interest-based bargaining/ consensus” guidelines to resolve grievances, make decisions, and find the best solutions.

Tagged with: • • • • • •
 

Using the internet for credit decision-making

On October 26, 2009, in crisis, debt, economy, money advice, money issues, money management, payday loans, personal finances, by admin
0

There are many ways to develop new products or boost the profitability of existing ones using the internet. The principles for online innovation are, with several additions, similar to those for offline product development.

The internet and customer-focused decisions

One of the most significant business benefits of the internet is the ability to create new relationships with customers. This includes the ability to capture, store and disseminate detailed information about customers and their preferences, thus allowing swift and practical decisions on everything from new product development and pricing to stock levels and future marketing plans. It enables faster, more reliable transactions, improving efficiency and reducing costs.

The internet also enables different scenarios to be tested, thus enhancing the accuracy of decisions. Another advantage is the ability to provide special-offer promotions offering significant value. As well as facilitating the promotion, the internet also enables customer data to be analysed and used to inform future decisions.

Tagged with: • • • • • • • • • • • • •