Identity Theft

What is Identity Theft? Identity theft is the misuse of another person's identifying information. In true identity theft, an identity thief uses another person's Social Security number and other identifying information to fraudulently open new accounts for financial gain. Victims may be unaware of the fraud for an extended period of time, which can allow the criminal to continue the ruse for months or even years. The criminal can use the victim's identity to work, receive medical care and commit other types of fraud. Account-takeover and credit-related fraud are common problems associated with identity theft. The Case of the Disappearing $300,000 Loan. Content published by CyberScout.com For homebuyers, nothing beats the excitement and relief that comes with a home loan approval. So you can imagine the horror when those funds suddenly disappear.  John and Nancy Ritter* experienced the trauma of this situation firsthand when a thief used stolen personal information to initiate a fraudulent wire transfer of…

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Innovation!

Eight Steps to Better Understanding and Addressing Customers' Needs. In my April 2018 MMR column titled, “Measuring Customer Perceptions,” I introduced a great innovation tool called Net Promoter Score tool. Net Promoter Score is a free tool and depends on asking one simple question to customers: How likely are you, on a scale of 0 to 10 to recommend this product or service to a colleague or friend? The higher the number, the better. Zoho. com offers a free version for your website. The Net Promoter score is a great tool to promote innovation Innovation is important, for it can help a business remain relevant in changing markets by creating new products and services. To read the rest, Click Here to check out my April MMR column.

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What Do Your Workers Really Care About? Walmart was surprised.

When employees are asked what their biggest business complaints are about, one might jump to the conclusion that their compensation would be listed as the number one issue. Walmart found out otherwise. Walmart's CEO asked his employees a question  and even he was surprised at the response. Greg Foran, the recently appointed US CEO of Walmart asked workers the following: "Can you send me three things where you think we've cut muscle instead of fat, and can you email it to me?" From the thousands of responses he received, a surprising theme emerged: Workers wanted toilet-seat covers returned to the stores' restrooms. Foran said, "Small thing, but really important. In the interest of saving money, we'd taken those things out."  Foran and his team came to the conclusion, that fixing "hygiene factors" were vital to get employee's buy in for the turnaround plan. Why this matters? Gallup has reported that organizations…

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How is Caring Measured?

When my son was growing up in NYC he was obsessed with the NY Knicks and Coach Pat Riley. Many say Coach Riley is on the top ten list of all-time best basket ball coaches. Perhaps the number one NBA coach of all time is Coach Gregg Popovich, AKA Coach Pop, president and head coach of the San Antonio Spurs. What can MI retailers learn from Coach Pop? In one word: Caring. Below I’m paraphrasing from Culture Code by Daniel Coyle who writes about Coach Popovich’s ability to keep his players fully engaged by establishing trust through caring. The first tip you’ll find about the character type Coach Popovich looks for is when you look at the Spur’s scouting template. To read the rest, check out my March MMR column.

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Strategies to Engage and Keep Your Best Employees

For those of you who had the opportunity to attend my winter NAMM talk with the same title as this column, consider this a concise summary. For everyone else, here’s the reader’s digest version. I began my talk by introducing a fictional music retailer, named Barron Key, owner of Harmony Music Anywhere, USA. And the story begins… It’s 10:10 and Barron is about to meet with his employees in the conference room to address a serious company wide problem. You see Barron wasn’t satisfied with his quarterly revenue. He believes that his team is not executing previous agreed upon sales goals.  He’s not in the best of moods.  Before the meeting begins, let me introduce you to his two key managers. To read the rest, check out my February MMR column.  

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My Journey With Tinnitus

Since I was in my teens, I’ve heard a high pitch sound in my left ear. Like many of you, I was exposed to loud music from my rock band. Protecting ears wasn’t really a conversation anyone was having in the 60’s and 70’s. Still I wasn’t really bothered by it. That is until this past March of 2018. The sound seemed to suddenly explode. It sounded like someone just turned the volume up to 10+. At first, I thought the sound was coming from external sources, so I started to walk around the building I was in. No matter where I went, the sound seemed to follow me and was still ringing very loud. I was scared. After going to three different ENT doctors, I was diagnosed with Tinnitus, a medical term for auditory perceptions heard in the ear(s) or head, but not produced by external sound. I’m not alone. Approximately 50…

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