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sore and frustrated … and fall well short of personal satisfaction. By confusing the result with the goal, you’d miss out on both, Adams says.


Employees need a higher calling to be inspired. If you’re the CEO and you think your employees are passionate about this quarter’s earnings per share, you’re out of touch. You might be excited about it because you have large stock options, but that’s not the kind of passion that’s going to rub off on your employees, Adams says. In fact, many employees will question your motivation to reach the goal when they know you will benefit disproportionately from the achievement of that goal. Meeting customer needs requires understanding them, and from that understanding can flow a river of profits.


Adams challenges company leaders to make a worthy new goal: “Understand and meet the needs of our customers.” Two points of clarification: First, “customers” includes both existing and new ones (sometimes in new markets). Second, “meeting needs” must include both value creation and value capture. Value creation is a new offering that provides value beyond the customer’s next best alternative. Value capture is returning some of this customer value to the supplier through appropriate pricing. Done correctly, Adams says, meeting customer needs will not reduce your profits; it will increase them. (Sources: Advanced Industrial Marketing, newproductblueprinting.com)


•••


Magnetic Product Wins ‘red dot’ Design Award


Smart enough to ask for your number


LUKE asks you for your mobile phone number when paying for parking so he can remind you when your session is about to expire. Simply reply to his text message to extend your parking.


Magnetic Autocontrol has been honored with the international “red dot” design award 2012 for the design and development of its new barrier range Magnetic MHTM MicroDrive. CEO Thomas Braunwalder said the award will be presented July 2 in Essen, Germany This globally prestigious award has


been presented since 1955 to organizations with outstanding product innovations and design. Braunwalder noted that the company “is delighted that we can now deliver to the parking and access control industry a barrier product that not only meets all standards and expectations, but also delivers performance respecting the environment and looks good.” Other companies receiving the red


dot award include Apple, BMW, Microsoft and Kia.


(Source: Magnetic Autocontrol) ••• Read PT’s sister Publication


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Learn more about the LUKE II pay station at digitalpaytech.com May-Half-Page.indd 1 40 See us at the IPI booth #226 12-04-10 2:41 PM Parking Today www.parkingtoday.com


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