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Provide an example of how a company, such as Coca-Cola, might engage a customer through the use of beacon technology.
On May 24, 2024
Answers will vary but should include that many customers enjoy the timely interactions with firms when they engage with them at the point of purchase. To reach customers at the right time, Coca-Cola relies on beacon technology, that is, technology that allows companies to detect where customers (who have enabled the feature)are at each moment, through their smartphones. In 2015, Coca-Cola's pilot campaign offered moviegoers a free Coke at the moment they walked through the movie house if they had already downloaded the appropriate app from the brand.
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Explain the role of trust in leadership.
On May 22, 2024
Answers will vary. Trust, the willingness to be vulnerable to the actions of another, is an essential element in leadership. Trust implies that followers believe that their leader will act with the followers' welfare in mind. Trustworthiness is also one of the competencies in emotional intelligence. Among top management team members, trust facilitates strategy implementation. That means that if team members trust each other, they have a better chance of getting buy-in from employees on the direction of the company. And if employees trust their leaders, they will buy in more readily.
Effective leaders understand both whom to trust and how to trust. At one extreme, leaders often make the mistake of trusting only a close circle of advisors, listening only to them and gradually cutting themselves off from dissenting opinions. At the opposite extreme, lone-wolf leaders may trust nobody, leading to preventable mistakes. Wise leaders carefully evaluate both the competence and the position of those they trust, seeking out a variety of opinions and input. Please see the section "Emerging Issues in Leadership" for more information.