“A poor strategy executed well is always better than a great strategy executed poorly.” — Michael Porter Strategy means choice. Unfortunately, many companies have a document labelled strategy. But when you ask “what is the strategy in your strategic plan” all they show you is a research paper full of great internal and external analysis using models like SWOT, PESTLED, Michael Porter’s 5 Forces and lots of the stuff. When you keenly analyze, you discover a missing link: lots of analysis but no relationships. Strategic choices are not properly informed by the analysis made. The measure of a great strategy…
How to win at Panel Interviews easily common questions answered
Have you ever lost that much needed promotion job at the last minute at the panel interview? Have you ever felt too intimidated by panel members? My first panel interview was also the toughest. A high-level job was advertised on the website of the professional accountancy body, which I am a member. I checked the listed minimum requirements. I saw I had all it took. I decided to try my luck. I took time to write a custom CV for the job from the perspective of the person who wrote it – in this case was the chief executive officer…
Training: Why you need Finance For Non-Finance Professionals
WHY summitFINANCE 4 NON-FINANCE PROFESSIONALS (summitF4NFPs) TOOLKIT TRAINING? Can you tell the difference between an income statement and a balance sheet? Do you understand why a business that’s profitable can still go belly up? Has the grasp of your company’s numbers helped or hurt your career? Do you understand your role in the financial performance of your business? If questions like these make you sweat or worry, this training is for you. Based on Harvard Business Review’s Exclusive Training Materials, you will get the tools and gain confidence you need to master finance basics, as all good professionals must. summitF4NFPs…
Business Continuity Plan/Disaster Recovery (Iso 22301) Implementation
In May 2014, the Chief Executive of one of the manufacturing Companies received a call that the factory was on fire. By the time Uganda Police Fire Brigade responded, the critical parts of the machinery were all lost in the inferno, with an estimated loss of US$ 1m. Despite having Insurance coverage, it took over five months to setup everything and resume normal operations. In the meantime, the factory lost business, order fulfillment and key partners. Business continuity plan would have helped reduce the recovery time to minimize costs and losses. In line with this, Summit Consulting Limited cordially invites…
Role of the Board in IFRS 9 implementation part 1
The board provides insights that the management may lack. For this reason, experienced and exposed people sit on board. Boards are helped by committees which have technical skills and expertise in the subject matter. For IFRS 9, the audit committee of the board plays a critical role in IFRS 9 compliance. The board and its committees must provide guidance to management especially the executive team to help navigate rough waters, identify and optimize opportunities, provide timely and reliable financial information to shareholders. Compliance is one of the key roles of the board. By now, many, if not all companies that…
A simple guide to shape company culture
A company without a culture is like a team with members who are strange to one another. You want to achieve the same goal, but you don’t know the skills and competence of your colleagues. The end result is playing hard and not passing the ball. Corporate culture is shaped by these things; Values Consistent practice of the values And behaviours of people As a leader, your role is to define the values that act as a bond among teams. What are those 3-5 desired qualities (values) that guide your way of life in running the business? Your chosen values…
