The impact on behaviour of money, value, and social responsibility may not be as predictable as many people, and indeed many business people might think. All three are nonetheless important. Following are five tips relevant to communicating value. To encourage compliance, replace financial penalties with a social contract.  It is in the best interests of […]

The impact on behaviour of money, value, and social responsibility may not be as predictable as many people, and indeed many business people might think. All three are nonetheless important. Following are five tips relevant to communicating value. To encourage compliance, replace financial penalties with a social contract.  It is in the best interests of daycare centres to ensure that parents pick their children up on time. Unfortunately, the behaviour of parents in this regard is variable. To examine the impact of penalties or fines on deterring the late pick up of children in daycare, researchers at the University of California studied a facility in Israel. Two groups were tested: Control group – parents simply asked to pick their children up at 4.00pm. Test group – parents fined 10 shekels (US$2.84) for a pick-up after 4.00pm. The findings were revealing. The frequency with which parents in the control group were late and…