The pandemic put a strain on company finances and created huge administrative and fiscal burdens for organizations trying to cope with furlough schemes around the world. As a result, the role of finance director became even more important.
The Government’s newly appointed tsar has suggested companies play their part and make products and services cheaper by cutting expenses in other areas, but this strategy could have long-term and hidden consequences.
Research suggests that the number one reason why business transformation fails is that employees are not signed on. This may suggest if a business transformation effort is to succeed, people are more important than any tech solution.
What do business leaders need to re-learn or revisit to manage the business in a high inflation environment?
It’s clear businesses have a role to play in cutting costs, but some ideas present potential long-term concerns.
The short-sightedness of strategic purchasing has led to flying blind for years - after all, the supplier market often remains a black box.
Balancing entrepreneurial spirit with scalable infrastructure will helps SMEs build resilience and opportunity against a backdrop of economic unpredictability and rising costs.
Consumers have come to expect prompt delivery of goods, and organizations that keep extending lead times risk losing out – but it’s a hard balance to strike, which is why strategies should include foresight.
Yes, the oil companies have profited from a perfect storm, but a windfall tax is not the answer – instead, the government should collaborate with these businesses to accelerate innovation and help the most vulnerable.
The Ukrainian President was viewed as something of a comedian until Russia invaded, but by staying in Kyiv and rallying his people around a common cause, he has shown his authenticity, bravery, and now people are willing to die for him.
Tomorrow’s likely success can no longer be measured on today’s results, and without adequate investment in foresight and scenario planning business leaders will make poor long- and short-term decisions.
Over the past few years, gender diversity seems to have improved. For a while, it felt like there were a select group of NEDs who were on multiple boards to prop up the numbers, but this seems to have moved on.
