BOOK A CALL WITH RALPH
Ask Ralph: Christian Finance
April 10, 2024

Unusual Business Traditions

Curious about unusual business traditions? Join Ralph Estep, Jr., as he dives into the world of unusual business traditions with our latest podcast episode! From lucky Kit-Kat bars to honking horns at Nike meetings.

Curious about unusual business traditions? Join Ralph Estep, Jr., as he dives into the world of quirky corporate customs with our latest podcast episode! From lucky Kit-Kat bars to honking horns at Nike meetings, we uncover fun and unusual practices. 

LISTEN NOW

WATCH NOW ON YOUTUBE (OUR VIDEO VERSION)

WATCH NOW ON RUMBLE (OUR VIDEO VERSION)

AppleSpotifyAmazon

Podcast AddictCastroOvercast

Please share our Podcast with all your friends and family!

Submit your questions or ideas for future shows - email us at ralph@askralph.com or leave a voicemail message on our podcast page Leave A Voicemail Message

Like us on Facebook and follow us on Facebook at https://www.facebook.com/askralphmedia Twitter (@askralphmedia) or visit www.askralphpodcast.com for more information.

To schedule a consultation with Ralph's team, contact him at 302-659-6560 or go to www.askralph.com for more information!

Buy Ralph's Book - Mastering Your Finances! on Amazon

Buy Ralph's Book - Gospel of Entrepreneurship: Following Jesus in Your Business Journey

 on Amazon

 

Thank you for listening to the Ask Ralph podcast. We encourage you to follow us on our social media pages and rate our show. For more information about the topics discussed on the podcast visit Saggio Accounting+PLUS.

Transcript
1
00:00:00,000 --> 00:00:04,500
Ralph: Have you ever wondered about some of the strange and unusual traditions that businesses follow?

2
00:00:04,950 --> 00:00:08,399
Why do certain companies insist on maintaining odd practices?

3
00:00:08,399 --> 00:00:10,290
that seem to defy logic.

4
00:00:10,770 --> 00:00:18,480
We'll stay tuned as we explore some fascinating, but bizarre business traditions, the reasons behind them and the lessons we can learn.

5
00:00:18,840 --> 00:00:20,430
You don't want to miss today's show.

6
00:00:51,906 --> 00:00:53,316
Welcome to our wacky Wednesday.

7
00:00:53,316 --> 00:00:55,086
show I'm so glad you chose to join us.

8
00:00:55,146 --> 00:00:57,606
I just want to thank you for listening and supporting the program.

9
00:00:57,816 --> 00:01:00,906
It's listeners and viewers like you that make this program possible.

10
00:01:01,356 --> 00:01:03,186
Today, we're diving into a fun topic.

11
00:01:03,186 --> 00:01:04,866
That's what we do on our wacky Wednesdays.

12
00:01:05,076 --> 00:01:07,806
And that is unusual business traditions.

13
00:01:08,316 --> 00:01:13,536
All companies develop their own unique cultures, but some organizations take it to surprising extremes.

14
00:01:13,986 --> 00:01:20,136
From wacky rituals to questionable policies, these eccentric corporate customs often leave outsiders scratching their heads.

15
00:01:20,286 --> 00:01:28,146
However, as odd as these traditions may seem, they are usually logical explanations and valuable takeaways behind the madness.

16
00:01:28,926 --> 00:01:34,126
It's another cold day in rainy day here on the farm, but the showers of today promise to green up our pastures.

17
00:01:34,146 --> 00:01:36,816
So the cows will be enjoying those luscious pastures soon.

18
00:01:37,626 --> 00:01:43,666
And before we get started, I want to remind you to subscribe to the show you do that at askralphpodcast.com

19
00:01:43,686 --> 00:01:47,736
.
You can also subscribe to our email list there because you don't want to miss tomorrow's show.

20
00:01:48,426 --> 00:01:52,986
There's only a few days left in a filing season and tomorrow to talk about how to file a tax extension.

21
00:01:53,346 --> 00:01:59,016
And don't forget, like I said, that tax filing deadline is just a few days away on Monday, April 15th.

22
00:01:59,496 --> 00:02:07,176
I also want to remind everyone that we are now releasing a video version yes you can see my beautiful face on our daily podcast on YouTube and rumble.

23
00:02:07,626 --> 00:02:14,406
The links are in the show notes, or you may simply search for the Ask Ralph Podcast on either platform and check out our show on video.

24
00:02:14,646 --> 00:02:16,296
We added that just a few days ago.

25
00:02:16,776 --> 00:02:24,006
Let's start as we always do with our relevant Bible verse and I had to dig deep for this one folks, and it might not be that relevant, but it's always good to start with the word.

26
00:02:24,396 --> 00:02:27,606
And this comes from the book of Proverbs chapter 16, verse eight.

27
00:02:28,014 --> 00:02:33,606
And it says this better, a little with righteousness than much gain with injustice.

28
00:02:34,440 --> 00:02:40,200
Let's start with the tradition at the Japanese division of Nestle regarding their famous Kit-Kat bars in Japan.

29
00:02:40,200 --> 00:02:43,110
Kit-Kats have become a hugely popular good luck charm.

30
00:02:43,440 --> 00:02:45,120
For students taking exams.

31
00:02:45,480 --> 00:02:56,610
This stems from the fact that the name sounds similar to the Japanese phrase, kitto katsu, which translates to surely win as a result, Nestle decided to capitalize on this quirky superstition.

32
00:02:56,910 --> 00:03:02,370
By releasing specialized Kit-Kat flavors in Japan, every January and June.

33
00:03:02,610 --> 00:03:13,020
These coincide with major exam periods, the limited edition bars come in, unique flavors like, and I don't know about these folks, soy sauce, matcha green tea and baked potato.

34
00:03:13,320 --> 00:03:15,450
I don't know if I want a big potato Kit-Kat.

35
00:03:15,750 --> 00:03:18,660
They even have a kit kat specialty store in Japan.

36
00:03:19,020 --> 00:03:21,780
So, if you're in Japan, you might want to check these things out.

37
00:03:21,780 --> 00:03:24,180
And while this tradition may seem bizarre to Westerners.

38
00:03:24,690 --> 00:03:29,760
It was a brilliant marketing tactic that helped Nestle dominate the confectionary market in Japan.

39
00:03:30,300 --> 00:03:34,710
The key lesson to learn here is to understand cultural nuances and local customs.

40
00:03:35,070 --> 00:03:37,410
In order to connect with your target audience.

41
00:03:37,740 --> 00:03:40,380
So you can get a soy flavored Kit-Kat bar.

42
00:03:40,380 --> 00:03:41,730
I'm not sure I'd want to like that one.

43
00:03:42,210 --> 00:03:43,830
Let's move on to the second tradition.

44
00:03:44,400 --> 00:03:46,530
And that's Nike employee meetings.

45
00:03:46,530 --> 00:03:48,360
So here's another odd corporate ritual.

46
00:03:48,780 --> 00:03:49,410
The unique way.

47
00:03:49,410 --> 00:03:56,880
Nike employees signal approval at company meetings rather than clapping Nike staff, honk horns and click pistols.

48
00:03:57,150 --> 00:03:59,730
That fire rubber bands as a form of applause.

49
00:04:00,343 --> 00:04:05,323
This tradition was started by Nikki's flamboyant co-founder Phil Knight in the early days of the company.

50
00:04:05,593 --> 00:04:06,973
He's certainly a colorful guy.

51
00:04:07,333 --> 00:04:10,483
He wanted to create a lively atmosphere at corporate gatherings.

52
00:04:10,813 --> 00:04:17,083
I imagine honking horns and shooting off rubber bands is definitely a creative and lively atmosphere.

53
00:04:17,503 --> 00:04:18,403
What's the takeaway.

54
00:04:18,553 --> 00:04:19,333
The takeaway is this.

55
00:04:19,333 --> 00:04:22,873
Don't be afraid to inject creativity and energy into your company culture.

56
00:04:23,473 --> 00:04:28,573
Think outside the box for unique ways to motivate your team and get people excited about your brand's mission.

57
00:04:28,993 --> 00:04:32,593
That's the key folks build in some excitement about your brands mission.

58
00:04:32,923 --> 00:04:36,043
Let's talk about an unusual job perk at a business analytics firm.

59
00:04:36,073 --> 00:04:38,623
It's called SAS Institute, founder, James.

60
00:04:38,623 --> 00:04:39,213
Goodnight.

61
00:04:39,373 --> 00:04:40,363
that's an interesting name.

62
00:04:40,723 --> 00:04:48,193
Instituted an unlimited job security policy, promising employees that they never could be fired for poor performance.

63
00:04:48,193 --> 00:04:48,343
Yes.

64
00:04:48,343 --> 00:04:49,033
You heard me right.

65
00:04:49,423 --> 00:04:51,073
The policy promises employees.

66
00:04:51,073 --> 00:04:52,963
They never be fired for poor performance.

67
00:04:53,413 --> 00:04:56,503
The rationale was to reduce stress and encourage creative problem.

68
00:04:56,503 --> 00:04:57,133
Solvings.

69
00:04:57,793 --> 00:05:07,183
Now, while this approach may seem counter-intuitive, it's worked well for SAS Institute landed on a Fortune's best companies to work for for 22 consecutive years.

70
00:05:07,603 --> 00:05:08,663
What's the key lesson Ralph?.

71
00:05:09,193 --> 00:05:11,263
It's to trust and empower your people.

72
00:05:11,653 --> 00:05:12,733
Offer job security.

73
00:05:12,763 --> 00:05:16,723
Your team will repay you with loyalty, engagement and innovation.

74
00:05:17,443 --> 00:05:23,263
So those are three fascinating examples of bizarre corporate traditions and the insightful lessons behind them.

75
00:05:23,713 --> 00:05:24,613
While there are unusual.

76
00:05:24,613 --> 00:05:31,063
These customs reveal important principles about understanding your audience, building a lively company culture.

77
00:05:31,333 --> 00:05:33,253
and earning employees trust.

78
00:05:33,613 --> 00:05:36,553
So as I always do, I want to give you some action items.

79
00:05:36,793 --> 00:05:42,403
If you found any of these strange business, traditions stop provoking, here's some steps to apply what we learned and that's

80
00:05:42,403 --> 00:05:42,943
number one.

81
00:05:43,303 --> 00:05:48,433
Identify a quirky habit, ritual or policy at your company reflect on the root purpose.

82
00:05:48,433 --> 00:05:49,033
It serves.

83
00:05:49,303 --> 00:05:52,243
See if you can gain insights in to improve your business.

84
00:05:52,813 --> 00:05:53,833
I think that's a great plan.

85
00:05:53,833 --> 00:05:56,713
Number two, brainstorm creative ways to energize your team.

86
00:05:57,043 --> 00:06:02,623
And reinforce your brand identity, fun customs, engage employees and promote community.

87
00:06:02,833 --> 00:06:04,513
I believe that is a hundred percent accurate.

88
00:06:05,083 --> 00:06:07,393
And number three, examine your management style.

89
00:06:07,393 --> 00:06:09,583
Are you instilling a sense of job security?

90
00:06:10,123 --> 00:06:14,383
Employees need reassurance in order to take smart risks and innovate.

91
00:06:14,383 --> 00:06:15,853
You've got to build that culture.

92
00:06:16,243 --> 00:06:17,953
Number four challenges, assumptions.

93
00:06:18,313 --> 00:06:21,343
Sometimes unconventional approaches are highly effective.

94
00:06:21,913 --> 00:06:25,453
You don't want to be afraid to experiment with bold new ideas.

95
00:06:26,203 --> 00:06:37,123
Before we wrap up on remind all of our listeners to visit our podcast page, you do that at askralphpodcast.com there you can leave a review, share your thoughts, or even send us a message with questions for future episodes.

96
00:06:37,483 --> 00:06:41,053
Maybe you'll be able to share some of the quirky things that happen at your company.

97
00:06:41,563 --> 00:06:45,733
Make sure while you're there, you join our email list that you can get a daily reminder email.

98
00:06:45,733 --> 00:06:47,233
What we're talking about on the program.

99
00:06:47,623 --> 00:06:49,303
You can also schedule a consultation with me.

100
00:06:49,303 --> 00:06:52,213
If you want to discuss some specific financial circumstances.

101
00:06:52,903 --> 00:06:53,683
And here's the thing.

102
00:06:54,043 --> 00:06:56,143
I want you to share our program and share this episode.

103
00:06:56,143 --> 00:07:00,043
If you know someone who needs a laugh and you found this humorous, do me a favor and share it with them.

104
00:07:00,523 --> 00:07:03,943
That wraps up our look at some odd and enlightening business traditions.

105
00:07:04,393 --> 00:07:07,183
Hopefully you now have fresh perspective on audience targeting.

106
00:07:07,453 --> 00:07:10,243
Corporate culture and employee empowerment.

107
00:07:10,933 --> 00:07:12,553
Every company has its quirks.

108
00:07:12,853 --> 00:07:15,943
The key is using them strategically to enhance your business.

109
00:07:16,393 --> 00:07:17,323
Thanks for joining us today.

110
00:07:17,323 --> 00:07:26,293
If you found this episode interesting, again, don't forget to visit our website at askralphpodcast.com for more business tips and financial wisdom with a Christian perspective.

111
00:07:26,683 --> 00:07:28,093
Stay savvy out there friends.

112
00:07:28,303 --> 00:07:29,768
And may God bless you abundantly.