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Blog
Archive by tag:
LSP business management
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How to Make Your Mission, Vision, and Core Values More Than Words
Every CEO knows they must develop three core elements to business management: a mission statement that explains the fundamental purpose of their company, a vision statement that plots a destination for their business, and core values that represent the fundamental beliefs and principles defining the company and its culture. Executive teams will commonly invest significant time developing these elements, even hiring consultants or advisors to help them. Yet, once satisfied with the results, these...
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October 03, 2023
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Hélène Pielmeier
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LSP business management
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LSP growth
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For LSPs
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For Technology Vendors
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Share
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Caring for the Mental Health of Language Professionals
May is Mental Health Awareness Month. During this period, organizations seek to raise awareness of trauma and the impact it can have on physical, emotional, and mental well-being. What does it mean for the language services industry? What are the negative effects of working as an interpreter, translator, project manager, or in any other role in the industry? With this blog, we hope to shed some light on the work-induced mental trauma that language professionals may experience and strategies to h...
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May 09, 2023
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Hélène Pielmeier
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LSP business management
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Corporate social responsibility
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For LSPs
,
For Buyers
,
For Technology Vendors
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Share
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Is a 4-Day Work Week Possible for LSPs?
Companies all over the world are experimenting with breaking away from the traditional five-day work week to move to a more condensed or shortened one. My husband, an HR manager, has implemented 4x10 (4 days of 10 hours each) at his company for over two years now and I have had countless discussions with him on whether language service providers could switch to such a model. I originally had some reservations because LSPs need to be there for their clients at a minimum of five days a week – if ...
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January 31, 2023
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Hélène Pielmeier
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LSP business management
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LSP strategic planning
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For Technology Vendors
,
For LSPs
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Share
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Competing against Bigger LSPs
When competing with large language service providers, small and mid-sized LSPs can feel at a disadvantage when it comes to securing or safeguarding revenue. However, it does not have to be that way. It is not always about size when presenting your company as a successful match for buyers’ needs.
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September 14, 2022
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Hélène Pielmeier
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LSP business management
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LSP growth
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LSP maturity
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LSP sales and marketing
,
LSP strategic planning
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For LSPs
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Share
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The LSP Journey to Digital Transformation
“Digital transformation” has become an inescapable buzzword. The COVID-19 pandemic sped up the shift to everything digital – even for predominantly paper-based language service providers. However, what LSPs call digital transformation (DX) ranges from eliminating every scrap of paper in their business to reinventing their whole business model. As a result, providers are all on a different step in their journey.
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June 08, 2022
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Hélène Pielmeier
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LSP maturity
,
LSP business management
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For LSPs
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Share
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7 Tips to Prevent Pricing Objections
All too often, LSP salespeople don’t know how to counter the “you’re too expensive” argument, viewing it as the end of the road. But it doesn’t have to be.
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July 21, 2021
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Hélène Pielmeier
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LSP business management
,
LSP sales and marketing
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For LSPs
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Share
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How The Pandemic Accelerated Change at LSPs
Ask people working in the localization industry if the move to working from home affected them, and many will tell you that they were already “remote” – set up to work from home, due to the nature of their jobs. Language service provider have no physical products to ship, no warehouses to store goods, and no fleets of trucks or ships to coordinate for deliveries. Coordinating language services in this day and age is essentially an ebusiness. On the surface, the switch to working from home app...
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April 28, 2021
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Alison Toon
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Business climate
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Crisis preparedness
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LSP business management
,
Technology adoption
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For LSPs
,
For Buyers
,
For Technology Vendors
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Share
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Planning a Strong 2021
The COVID-19 pandemic has challenged many LSPs’ abilities to grow. In a January 2021 survey, we found that 44% of them experienced a setback in 2020. But that’s not to say the market overall performed that poorly. On average, despite the losses of many, we calculated a 3% growth from 2019 to 2020 for this group of providers, which has traditionally outpaced the industry as a whole. And they are overall optimistic about 2021, as their sales goal amounts to an average planned increase of 18% ove...
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February 03, 2021
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Hélène Pielmeier
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LSP business management
,
LSP growth
,
LSP sales and marketing
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For LSPs
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Share
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M&A: Want to Sell or Merge?
In a recent blog we updated the changing M&A landscape for 2020. We also noted that respondents to CSA Research’s annual Global Market Study (GMS) have shown consistent interest over the years in buying, selling, or merging in response to the question, “How important will the following actions related to merger and acquisitions be in 2020?” Of the 356 respondents from the representative sample of 462, 29% said they wanted to sell, 34% would like to buy, and 30% preferred a merger.
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October 28, 2020
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Donald A. DePalma
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Buyer strategic planning
,
LSP business management
,
LSP strategic planning
,
M&A
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For LSPs
,
For Buyers
,
For Technology Vendors
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Share
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Language Sector Joins Global Surge to a Trillion Dollars of M&A in Q3
2020 started out with great financial momentum. The MSCI All Country World Index of large-, mid-, and small-cap stocks across 23 developed and 26 developing markets had risen almost 24% over 2018, an ounce of gold was worth 18% more than 12 months prior, and private equity groups had accumulated US$1.5 trillion in funds to invest. Businesses were primed for a stellar 2020, but by March, COVID-19 pushed most of the world to shelter in place. Companies shut down, employees were furloughed, and lif...
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October 20, 2020
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Donald A. DePalma
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Business climate
,
Industry news
,
LSP business management
,
LSP growth
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For LSPs
,
For Buyers
,
For Technology Vendors
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Share
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