Lights, camera and action. This would be the normal sequence when shooting for a scene. The same rules should apply to the corporate world when making decisions. The problem is the sequence has been missed and so often, company directors and executives tend to take action without lights or preparing the camera. Look at some recent company failures and it is no surprise that the financial mark was missed.
In all companies, finance is the key and without proper and adequate financial management, companies tend to fail. Many financial systems are available but the problem is that the top level executives simply don’t get it right often. They look into financials without having a good grip of what financials are all about.
This article is prepared with the intention of offering directors and executives how to detect value drivers and avoid smokescreens without micromanaging. It is planned with the intention to further offer suggestions on how to make savvy decisions and apply a...
We see rapid changes taking place globally and technology disruptions forcing companies to tweak and make relevant changes to their business to adapt to these external realities. Though this article aims at help all sizes of companies, research indicates that 96% of small businesses fail in the first 10 years.
I have come across businesses who are doing well on paper, but face serious cash flow problems. The reason is, directors and executives don’t take enough time to evaluate the critical triggers which drain company value.
Before we go into the question, I often get asked as to why I refer to both directors and executives. After all, the duties of directors are different and segregated from what management does. Directors must not entangle themselves into micromanaging and not all executives are on the board.
The following are some of the reasons why directors and executives need to work together in certain circumstances:
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