The normal process of approving accounts payable is for someone who actually received the goods or services to indicate that the invoice is both correct and that the goods or services were appropriately received. Often, this is often indicated by …
Last month, I wrote about “The Weakest Link” and referred to the old adage “a chain is only as strong as its weakest link”. I made the argument that the same holds true in any organization and that those weak …
Last month, I talked about the amount of risk that businesses take on through various initiatives. Today, I’d like to address a topic that people usually put into the risk category but which I think goes to the subject of …
All businesses take some amount of risk. Just opening the doors for the first time involves the risk of capital and labor. From then on, every business decision could be thought of as a risk reward trade-off. For most decisions, …
Truthful financial statements are a mirror. They are a reflection of what is happening in the business on a day to day basis. They reflect the decisions that management is making and the efficiency (or lack thereof) with which they …
I think business debate is good. But I am a product of my early career environment. I spent the first ten years of my career at Unisys Corporation. Unisys was (and probably still is) predominantly an engineering company. Open debate …
Most companies have either just completed or are diligently trying to finish their budgets and plans for 2009. Given the tumultuous 2008 and the similar start to 2009, it’s easy to imagine that many companies are thinking about what it …
If there is one thing that causes inefficiency in the work place more than any other, I think it may be ripple effect of missed deadlines. Generally, missed deadlines come in two forms. One is the simple passing of a …
As the 2008 Presidential Elections fade from our collective memory, I’d like to ask you to take a look back and think about the voting process. No, not the two years running up to November 4th, how you selected your …
There is an old saying: “When opportunity knocks, answer the door.” But in these volatile times, it is hard to know whether you are looking at an opportunity or not!? One can get whiplash just watching the stock market with …
