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      • Coins to Buy on the Dip
      • Fastest Growing Crypto
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      • Long Term Investments
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      • How to Spend Bitcoin
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      • Bitcoin Blackjack Sites
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        • Aqru Review
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        • What is APY in Crypto?
        • Yield Farming Platforms
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        • Best DEX Coins
        • DAO Crypto Projects
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    • Bitcoin Price Prediction
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      • Axie Infinity Prediction
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      • CateCoin Price Prediction
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      • DogeBonk Price Prediction
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      • Dogelon Mars Prediction
      • Ethereum Price Prediction
      • Floki Inu Price Prediction
      • Hoge Coin Price Prediction
      • Kishu Inu Price Prediction
      • LBLOCK V1 Prediction
      • LBLOCK V2 Prediction
      • LUNA Price Prediction
      • Pi Coin Price Prediction
      • Polygon Price Prediction
      • SafeMoon Price Prediction
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      • Stepn GMT Price Prediction
      • SXP Coin Price Prediction
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      • XRP Price Prediction
    • Best Altcoins
      • Buy Battle Infinity
      • Buy Bitcoin Cash
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      • Buy Celo
      • Buy Cardano
      • Buy Cartesi
      • Buy Chiliz
      • Buy Cronos
      • Buy Dash
      • Buy EOS
      • Buy ENS
      • Buy Ethereum
      • Buy Ethereum Classic
      • Buy FTX Token
      • Buy HBAR
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      • Buy IOTA
      • Buy Litecoin
      • Buy Livepeer
      • Buy Loopring
      • Buy Lucky Block
      • Buy LUNA 2.0
      • Buy LUNC
      • Buy Neo
      • Buy Pitbull Coin
      • Buy Polkadot
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      • Buy Solana
      • Buy Spark
      • Buy VeChain
      • Buy XRP
      • Buy ZCash
    • Best Crypto Exchanges
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      • Margin Trading Exchanges
      • Social Trading Platforms
    • Best Meme Coins
      • Best Dog Cryptos
      • Buy Baby Doge
      • Buy Dogecoin
      • Buy Floki Inu
      • Buy Kiba Inu
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      • Buy Tamadoge
    • Best DeFi Coins
      • Buy 1inch
      • Buy Aave
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      • Buy Avalanche
      • Buy Balancer
      • Buy Bancor
      • Buy Chainlink
      • Buy Compound
      • Buy Cosmos
      • Buy Curve
      • Buy DeFi Coin
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      • Buy Maker
      • Buy Polygon
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      • Buy Sushiswap
      • Buy Tezos
      • Buy Uniswap
    • Best Web 3.0 Coins
      • Buy Basic Attention Token
      • Buy Biconomy
      • Buy Filecoin
      • Buy Theta
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      • Buy NFTs on Binance
      • How to Flip NFTs
      • Make Money With NFTs
    • Best Metaverse Coins
      • Buy ApeCoin
      • Buy Axie Infinity
      • Buy Decentraland
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      • Buy Enjin
      • Buy Gala
      • Buy GMT
      • Buy Immutable X
      • Buy The Sandbox
    • NFT News
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      • New NFT Projects
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      • Sport NFT Drops
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      • Azuki NFTs
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      • Buy Ford Stock
      • Buy Gamestop Stock
      • Buy Hertz Stock
      • Buy Lockheed Martin Stock
      • Buy Matterport Stock
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      • Buy Nikola Stock
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    • Best Trading Platforms
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      • How to Day Trade Stocks
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      • Low Spread Forex Brokers
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      • Bitcode AI Review
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      • Bitindex Prime Review
      • BitIQ Review
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      • Immediate Edge Review
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      • Prime Advantage Review
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      • Teslacoin Review
      • Today Profit Review
      • 7Tesler Review
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      • Bitcoin Smarter Review
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  • Investing
      • Best Cryptos
      • Best Beginner Cryptos
      • Best Crypto Under $1
      • Best Crypto Winter Tokens
      • Best Emerging Cryptos
      • Best ERC20 Tokens
      • Best Future Cryptocurrency
      • Best Move to Earn Crypto
      • Best Utility Tokens
      • Best Video Game Crypto
      • Coins to Buy on the Dip
      • Fastest Growing Crypto
      • Hottest Cryptos Right Now
      • Most Promising Cryptos
      • Next Crypto to Explode
      • Invest in Crypto
      • How to Invest in Bitcoin
      • How to Invest in DeFi
      • Long Term Investments
      • Low Market Cap Cryptos
      • Most Undervalued Cryptos
      • Penny Cryptocurrencies
      • New Cryptos
      • Best Crypto ICOs
      • Best Crypto IDOs
      • Best Crypto IEOs
      • Best Crypto STOs
      • Best Crypto Crowdsales
      • Best Crypto Presales
      • Best Crypto Private Sales
      • Buying Coins Pre Launch
      • Crypto Games
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      • Best GameFi Cryptos
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      • Best Play to Earn Games
      • Crypto News
      • Best Crypto Reddit
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      • Crypto Tiktok Trends
      • Crypto Youtube Channels
      • Twitter Crypto Trends
      • Crypto Wallets
      • Best Cardano Wallets
      • Best DeFi Wallets
      • Best Ethereum Wallets
      • Best XRP Wallets
      • Crypto Bank Accounts
      • How to Spend Bitcoin
      • How to Spend Ethereum
      • Bitcoin Casinos
      • Best Bitcoin Gambling Sites
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      • Bitcoin Blackjack Sites
      • Bitcoin Roulette Sites
      • Bitcoin Slots Sites
      • Ethereum Casinos
      • Earn Free Crypto
      • Best Crypto Airdrops
      • Best Crypto Faucets
      • Best Crypto Giveaways
      • Earn Free Bitcoin
      • Make Money With Crypto
      • Earn Interest on Crypto
      • Aqru Review
      • Best Staking Coins
      • Crypto Interest Accounts
      • Crypto Lending Platforms
      • Crypto Loan Sites
      • Crypto Savings Accounts
      • Crypto Staking
      • Earn Interest on Bitcoin
      • Earn interest on Ethereum
      • Earn Interest on Stables
      • What is APY in Crypto?
      • Yield Farming Platforms
      • Yield Farming vs Staking
      • DeFi Crypto Guides
      • Best DeFi Apps
      • Best DeFi Interest Rates
      • Best DEX Coins
      • DAO Crypto Projects
      • DeFi Lending Platforms
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      • DeFi Swap Exchange
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      • Worldwide Crypto Guides
      • Best Africa Crypto Projects
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      • Buy Bitcoin AU
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      • Buy Bitcoin UAE
      • Buy Bitcoin UK
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      • Crypto Exchanges AU
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  • Cryptocurrency
      • Buy Crypto
      • Buy Bitcoin
      • Buy BTC with Apple Pay
      • Buy BTC with Credit Card
      • Buy BTC with Bank Wire
      • Buy BTC with eToro
      • Buy BTC with Paypal
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      • Bitcoin Price Prediction
      • ALICE Price Prediction
      • ApeCoin Price Prediction
      • Axie Infinity Prediction
      • Battle Infinity Prediction
      • CateCoin Price Prediction
      • Cardano Price Prediction
      • Chia Coin Price Prediction
      • DeFi Coin Price Prediction
      • DogeBonk Price Prediction
      • Dogecoin Price Prediction
      • Dogelon Mars Prediction
      • Ethereum Price Prediction
      • Floki Inu Price Prediction
      • Hoge Coin Price Prediction
      • Kishu Inu Price Prediction
      • LBLOCK V1 Prediction
      • LBLOCK V2 Prediction
      • LUNA Price Prediction
      • Pi Coin Price Prediction
      • Polygon Price Prediction
      • SafeMoon Price Prediction
      • Samoyed Coin Prediction
      • Shiba Inu Price Prediction
      • Stepn GMT Price Prediction
      • SXP Coin Price Prediction
      • VeChain Price Prediction
      • XRP Price Prediction
      • Best Altcoins
      • Buy Battle Infinity
      • Buy Bitcoin Cash
      • Buy Binance Coin
      • Buy Celo
      • Buy Cardano
      • Buy Cartesi
      • Buy Chiliz
      • Buy Cronos
      • Buy Dash
      • Buy EOS
      • Buy ENS
      • Buy Ethereum
      • Buy Ethereum Classic
      • Buy FTX Token
      • Buy HBAR
      • Buy IOST
      • Buy IOTA
      • Buy Litecoin
      • Buy Livepeer
      • Buy Loopring
      • Buy Lucky Block
      • Buy LUNA 2.0
      • Buy LUNC
      • Buy Neo
      • Buy Pitbull Coin
      • Buy Polkadot
      • Buy RadioCaca
      • Buy Solana
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      • Buy VeChain
      • Buy XRP
      • Buy ZCash
      • Best Crypto Exchanges
      • Best Altcoin Exchange
      • Best Metaverse Platforms
      • Best Crypto Apps
      • Best DeFi Exchange
      • Best P2P Exchange
      • Binance Referral Bonus
      • Binance vs Coinbase
      • Binance Review
      • Best Binance Alternatives
      • Best Coinbase Alternatives
      • Bitstamp Review
      • Bitstamp Sign Up Bonus
      • Coinbase Review
      • Coinbase Sign Up Bonus
      • Crypto.com Review
      • Crypto.com Sign Up Bonus
      • Crypto.com Visa Card
      • Crypto Credit Cards
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      • Margin Trading Exchanges
      • Social Trading Platforms
      • Best Meme Coins
      • Best Dog Cryptos
      • Buy Baby Doge
      • Buy Dogecoin
      • Buy Floki Inu
      • Buy Kiba Inu
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      • Buy Tamadoge
      • Best DeFi Coins
      • Buy 1inch
      • Buy Aave
      • Buy Algorand
      • Buy Ankr
      • Buy Avalanche
      • Buy Balancer
      • Buy Bancor
      • Buy Chainlink
      • Buy Compound
      • Buy Cosmos
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      • Buy DYDX
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      • Buy Kyber Network
      • Buy Maker
      • Buy Polygon
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      • Buy Tezos
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      • Best Web 3.0 Coins
      • Buy Basic Attention Token
      • Buy Biconomy
      • Buy Filecoin
      • Buy Theta
  • NFTs
      • How To Buy NFTs
      • Best NFT Apps
      • Best NFT Games
      • Best NFT Giveaways
      • Best NFT Lawyers
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      • Best NFT Presales
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      • Make Money With NFTs
      • Best Metaverse Coins
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      • Buy Axie Infinity
      • Buy Decentraland
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      • NFT News
      • Celebrity Backed NFTs
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      • New NFT Projects
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      • Invest in the Metaverse
      • Best Metaverse Apps
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      • Real Estate Investment Club Review
      • Identity 20XY Review
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      • Binance
      • Crypto.com
      • DraftKings
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      • Magic Eden
      • NFT Launchpad
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      • OpenSea
      • Rarible
  • Stocks
      • Types of Stocks
      • Best Biotech Stocks
      • Best Bitcoin ETFs
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      • Best Cannabis Stocks
      • Best Cheap Stocks
      • Best DeFi Stocks
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      • Buy Stocks on eToro
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      • Buy Stocks with PayPal
      • Invest in Stocks
      • Invest in NFT Stocks
    • Trading
        • Best Trading Platforms
        • Best Investment Apps
        • Capital.com Review
        • Copy Trading Platforms
        • Demo Accounts for Stocks
        • Day Trading Platforms UK
        • eToro Review
        • eToro Review UK
        • eToro Review ZA
        • How to Day Trade Stocks
        • How to Trade Commodities
        • How to Trade Crypto
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    Digital & Social⟩Leadership

    Lessons on Internal Team Building from Eddie Lampert and Sears

    author imageJay Leonard Last updated: 8 August 2013
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    Keeping Meetings Far From ColleaguesIn a world where new business models are being re-imagined and industries are applying their approaches to different corporate structures, it’s worth examining the successes and failures of these methods. If you work in customer service management—and particularly if you have a team of sales people in charge of customer relationships—it’s a good practice to follow trends in customer service management.

    As important as it is to follow what works in customer service management strategy, it’s equally important to follow what doesn’t work. An article in Bloomberg that profiled Eddie Lampert’s approach to managing Sears highlights this very point; namely, a successful management structure in one industry does not always apply to other industries. Though Sears is a retail behemoth, the lessons the company is (painfully) enduring under Lampert’s leadership are especially applicable to customer service management and sales-heavy organizations – or essentially any company that is housed under one brand, has a goal of serving customers through products, and shares the same pool of resources. Let’s examine Sears and Lampert’s approach.

    Lampert’s strategy: Autonomous businesses within the business

    Eddie Lampert made his name and fortune in the hedge fund world. A billionaire by the age of 41, Lampert became a majority owner in Kmart and used Kmart to buy Sears in 2005. His move from a Goldman Sachs superstar to managing established (though flailing) department store brands puzzled many, but what’s become even more puzzling is his insistence that Sears be managed like a hedge fund portfolio. He chose not to run the company according to the traditional retail model: department heads run product lines, but they all work under the same merchandising and marketing team, with the overall company goals as the overarching yardstick. Instead, Lampert broke the company up into 30 separate divisions, making them autonomous businesses within the company (sound familiar, you in sales?). All of the separate divisions must prove their value in order to gain their share of marketing spend and company resources, and they even have their own individual presidents, board of directors, chief marketing officers, and profit and loss statements.

    Lampert insists that this structure gives him insight into the individual businesses that he’s created within the company, and, as he’s continued to argue, forces the department heads to fight and work harder in order to get their share of the pie. Instead, what has happened is that department heads are fighting against other divisions, forcefully protecting their own resources, and aggressively hoarding what they can—often at the expense of other brands within the company, and even the overall company brand. After eight years of managing the company this way, Sears has seen its stock fall 64 percent, and its holdings have gone from $49.1 billion to $39.9 billion. Many forecast that the company will continue on this path of decline under its current structure.

    Customer service management strategy: The competitive versus the collaborative approach

    It’s easy to read about stories such as Sears and think – “well, of course that’s not going to work.” Or, “that’s not how we manage our company, so we have nothing to worry about.” Before you get too confident in your corporate structure, and specifically, your customer service management strategy, think more about your individual departments, department heads, and teams. If you run sales, specifically, are you building a sales team that truly collaborates with other teams? Are they focused so much on their own metrics and successes that they forego the company’s main goals and image? Do teams help each other, and are they willing to sacrifice resources so that other divisions can prosper? In short, does your company operate more like a page out of “The Hunger Games,” or an episode of “Survivor,” or are you collaborating like a winning sports team?

    Striking a balance in customer service management

    While it’s true that competition spurs teams to outdo the others and can inspire added motivation, it can also breed unwanted behavior and lower morale – as is the case at Sears. Clearly there needs to be a balance. In the case of Sears, standard meetings to discuss marketing dollars for the various brands erupt into loud shouting matches, and company turnover has increased since the corporate re-structuring.

    What’s notable about the Sears example is that the company is in the business of sales and ultimately serving customers, but nowhere in Lampert’s strategy do you find “serving the customer” or “upholding Sears’ image as a 120-year old venerated retailer.” Instead, he seeks to ignite selfish behavior among the divisions and looks for higher sales by essentially forcing the departments to thwart the efforts of other divisions within the company.

    How about building a customer service team that’s more like an ecosystem?

    If your company is in the business of serving customers and selling a product, are you operating in silos, or is your structure envisioned as a holistic ecosystem, where the parts depend on the other parts to grow and thrive?

    The Sears story is a good reminder to take stock of your company’s values, goals, and customer service management strategy. If you’re there to sell and serve customers, make sure that every division, department head, and team member understands that the overall brand and goal of increased customer satisfaction must trump any individual department gains.

    Unless, of course, you’re running a hedge fund.

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      This article originally appeared on Impact Blog! and has been republished with permission.
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    author image

    Author: Jay Leonard

    Jay is a UK-based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. Jay has a great deal of hands-on experience in analysing financial markets and performing technical analysis. Jay is currently focusing on the institutional adoption of cryptocurrency and what it means for the future of

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