What do the United States of America, the Federated States of Micronesia and the Kingdom of Tonga all have in common? Aside from being decidedly long-named nations, none of these three countries requires employers to provide their staff with time off for holidays or vacation. In fact, the U.S. is the only advanced economy in the entire world without such a requirement. As a result, American workers have seen their vacation time shrink from an annual average of 20.3 days Continue reading
The online shoe retailer Zappos has always set out to be an innovative employer as well as a successful business. Along with quality benefits and perks, CEO Tony Hsieh grants his staff the freedom to do their jobs according to their terms. In fact, recently the Zappos boss put a radical new corporate structure into place that eliminates all traditional managers or job titles. Instead of a traditional hierarchy, employees now work in “circles” that encourage more collaboration and agility. Continue reading
Modern retailers stock so many items that consumers can usually buy whatever products they want whenever they want them. Still, a number of companies utilize limited-run sales and exclusive partnerships with brands in order to generate buzz about their business. Target is one of the biggest users of this strategy, teaming up with more than 150 companies in one-off joint ventures since 1999. The retailer’s latest gimmick sale brought them together with the clothing and lifestyle brand Lily Pulitzer, a Continue reading
Ownership of private property is one of the United States’ oldest economic principles. But like many other seemingly everlasting ideas, modern technology has enabled companies to put this concept to the test. For instance, a few years ago Keurig’s single-cup coffeemakers became a big hit with consumers. Rather than brew an entire pot of coffee, those in need of a jolt simply place a small pod of grounds into the machine and wait a few seconds for their drink to Continue reading
For many environmentally conscious diners, where their food comes from is almost as important as the food itself. Followers of the “farm-to-table” movement try to avoid items made on industrial-scale factory farms in favor of locally produced, organic goods. Over the years this concept has expanded from the stands at local farmers’ markets and into mainstream foodie culture. But while this concept works for farm-cultivated products like vegetables, beef and poultry, following fish from “ocean-to-table” is trickier to pull off. Continue reading
In the 1960s Northeast Italy’s artisans banded together to form small family-owned businesses that depended closely on one other. Each company manufactured a single part of a finished product that held the entire town’s attention. For instance, the tiny burg of Montebelluna specialized in making ski boots, with dozens of companies contributing parts like buckles and foam linings. The town eventually became famous for its high quality footwear, producing about three-quarters of the world’s ski boots at its height. One Continue reading
While nonprofit organizations do the world an immeasurable amount of good, their restrictive structure can prove frustrating for some entrepreneurs. After all in order to stay afloat, many nonprofits depend on the generosity of donors, a source of capital that could suddenly dry up at anytime. That’s why a few startups are combining the social drive of nonprofits with sustainable business models to form benefit corporations, or “B-corps” for short.
On the surface these companies seem like normal firms: they Continue reading
In an ideal world, FIFA, the global governing body of soccer, wouldn’t need to have its money management practices closely scrutinized. After all, FIFA is a nonprofit association whose primary function is to enforce the rules of the game and encourage its global expansion. In reality, however, the organization has been long accused of acting as a haven for corruption and corporate impropriety.
This much was confirmed in late May when Swiss police raided a luxury hotel in Zurich and Continue reading