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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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The hospitality industry been struggling with a loss of income due to a slump in travel and event cancellations during the COVID-19 pandemic
Some hotels have been buttressing their revenues with short-term room rentals for people to enjoy a new remote work location
Long-term stay packages also being offered
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Remote work during the COVID-19 pandemic has highlighted inefficiencies with the traditional office model
More casual workplaces emerge, with greater understanding for employee circumstances among both employers and clients
Automation likely to accelerate as a result of remote work
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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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Building employee camaraderie should go beyond a drink or two shared virtually once a week
Specialized apps allow team-building, icebreakers, trivia, and other activities to encourage co-workers to meet up remotely while social distancing
Efforts can help improve work-related collaboration and communication
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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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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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Research from Creative Strategies shows that workers under 30 are unlikely to collaborate through e-mail, while it remains a preferred choice among older workers
Tools used for business collaboration will likely need to adapt as younger employees age and become more dominant in workforce
Workers use a suite of collaboration tools from multiple tech companies
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