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Selling learning curve and Today’s challenges

7 Aug

Recently I came across Gartner research on effective sales interactions guide (available here), I decided to write my thoughts on sales and elaborate on the subject that sales, marketing and company strategy is continuously evolving.

There are plenty of articles and for sure we have heard that business is an ongoing process that changes and we have to adjust our practices in order to remain in the business also tomorrow. Or in other words, the one will survive who is changing as said by famous Latvian writer Rainis. However I hear a lot from CEOs of SMEs who are in business of selling that they know their customers, they know what customer wants and that they have their best practices in place. In many cases practices means having not so impressive sales presentation, lousy company web site (that was updated couple years ago) and vague online presence – having Twitter or Facebook account without an administration. In these cases it seems that knowledge of customer is based on the prejudice and own beliefs of the world out there that it is not necessary true.

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Importance of breaking out of mental traps

5 Aug

Recently, Harvard Business Review published an article on Engineering Reverse Innovations that highlights the idea of designing products and services in developing economies and after exports them to developed countries. Article is definetaly worth reading not only if you are thinking about bringing products and services to the the developing world but also may help to enter markets relatively new markets of European Union where purchasing power is not still as strong as in old Europe. Authors of the article mention few traps and design principles to avoid those however I want to add my thoughts on topics that relate but were not covered by article.

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Turnaround that almost cost bankrupcy

21 Aug

According to The Guarding a federal judge has approved Kodak’s plan to emerge from bankruptcy protection. It seems interesting that company once so notorious in film and photo printing business has hit the bottom so harsh – but I suppose this is the price to pay for everyone who’s core competencies loses value in today’s world of business and who is over confidential to change.  Continue reading

Myth about costs and time consumption of financial analyses

5 Jan

Recently I have come across many misuses or avoidance of using financial analyses in corporate governance by some CEOs or pretty large companies in Latvia. Each time I try to understand the point of a person that is avoiding financial analyses as some kind of ‘disease’. It turns out that arguments usually are more or less the same. Summarizing main arguments against using financial analyses or even using some KPI are that it is expensive or it takes much time. By such reasoning obvious it is easy to relay on data received from accountant rather than calculating KPIs. As I do not agree to such reasoning I give few arguments for using financial analyses.

Simple financial analyses can be done using pencil and paper or in more ‘sophisticated way’ by using excel spread sheet. In times of start-up businesses when new projects and creative ideas tend to get born each day it would not be wise to employ expensive tools however it is more than important to use financial analyses and see perspectives. It is more expensive not to use financial analyses for day to day business than using it. Continue reading