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Innovative leadership involves creating an environment where greater inventiveness and creativity can occur
Inventors don’t necessarily have the expertise to manage others, but flourish under competent leaders
Business owners must be prepared to provide flexibility and embrace a diversified workforce
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With shutdowns related to the COVID-19 pandemic putting major pressure on brick-and-mortar businesses, entrepreneurs may consider whether their company can feasibly operate with just an online presence
Advantages include minimal overhead, lower operating costs
Business owners must also be aware of customer expectations and greater competition in online-only sales
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Large companies with supplier diversity programs support a variety of companies, including small businesses and those run by women, minorities, or LGBTQ owners
Supplier diversity enhances a large company’s reputation while broadening the economic opportunities for partnering businesses
Diversity commitments have been receiving more attention during the COVID-19 pandemic as well as social justice movements
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Having family members present while working remotely can significantly distract you from your workflow, but there are advantages to this setup as well
Spouses, children, and others in the household can be a surprisingly valuable resource in brainstorming and creativity
Spending some time with family can be a good way to spend a much-needed break
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Llewellyn King, who helped shape President Richard Nixon’s energy policy, says utilities are ripe for innovative change in the wake of COVID-19
Prolonged power outages after Tropical Storm Isaias also highlight the need for improved resiliency
Improved communications, decentralized power generation, and more battery solutions among the potential changes
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Partnership between Simon Property Group and Amazon would allow vacant “anchor” stores to be converted to Amazon distribution centers
Arrangement would guarantee steady rental income for malls while assisting with “last mile” delivery for the e-commerce giant
Simon reports stable second quarter income despite COVID-19 shutdowns
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Survey finds that a large share of small businesses have stopped accepting cash and transitioned to contactless payments during the COVID-19 pandemic
Younger customers are more likely to accept cashless transactions and favor companies that require no direct interaction for payment
Two-thirds of businesses try a new approach during the pandemic, primarily involving a pivot to digital
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Forbes Technology Council contributor says partnership models established during COVID-19 pandemic should continue in future
Benefits include better market research, more business opportunities, and lower R&D costs
Tips on how to engage in open innovation
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Jessica Moser visits the Small Business Radio Show to discuss the latest results of a Met Life/U.S. Chamber of Commerce poll on COVID-19 impact
Most small businesses said they had fully or partially reopened at the time of the survey
Small businesses show more optimism about future revenues and ability to rehire employees
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While large businesses may seem to overshadow their smaller counterparts, small businesses play a key role in influencing them
Small businesses have advantages over large businesses such as more free reign for innovation and less red tape
Small businesses and large businesses can produce harmonious relationships
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