Wonderful Wefinda weekly news (Week ended 19 November 2010)

The negative impact of targets
A recent long running survey by CIMA has revealed that the imposition of strict targets can actually hinder performance. When targets are strictly applied and can lead to performance bonuses employees will take action to ensure the targets are seemingly met. This includes cutting corners, signing off incomplete work and concentrating on short term goals at the expense of long term growth and stability.

Quangos come and Quangos go but entrepreneurs are on the up
The Business Secretary, Vince Cable, celebrated the start of Global entrepreneurs’ week by setting up a quango. The Entrepreneur’s Forum will advise the government on business and enterprise policies. At the same time Vince Cable created a business mentoring network consisting of around 40,000 successful business people who are prepared to give some time mentoring business start-ups.

How do you conduct your business calls?
Research by T-mobile says that most business people switch off in the first 5 minutes of a call due to waffle. Whilst building a relationship is important, too much chat can actually kill a conversation and lose a potential sale. 86% of those poled thought they wasted time each day in conversations with people who wouldn’t get to the point.

A timely Christmas warning
With internet sales on the up this Christmas, security software company McAfee have published their 12 scams of Christmas. These include Low Price traps to tempt people into handing over card details, Fake gift card offers with the same aim and virus spreading via holiday jingles and greetings on e-mail.

So, what do we have to look forward to?
With Parliament working a 4 day week, there is little to report in terms of business news. On Tuesday and Thursday there is a general committee meeting to consider the Postal Services Bill whilst the Treasury Select committee continues to investigate competition and choice in the banking sector and the November inflation report.

And finally
Watch out and draw those curtains. A new pictorial survey of London has been released by 360cities.net producing the highest resolution pictures ever seen on a city-scape. The project was so detailed they even had to edit out an embarrassing picture of a woman standing by a window. The photos took three days to shoot from the top of Centre Point and are so detailed that individuals on the ground can be recognised.