An accounting innovation worth commenting on
The International Integrated Reporting Council (IIRC) see http://www.theiirc.org are calling for commentary on a recently released consultation draft paper on Integrated Reporting by the 15th July 2013 – not much time left, but there is still time to comment. There are many interesting innovations in the draft paper, and one that I find interesting and valuable is around the business model. At the heart of an organization is its chosen business model. Current business model reporting is inconsistent, both in terms of uptake and scope. Uptake appears to be influenced by the presence of regional legislation, corporate governance codes and …
Sometimes you are privileged to share
On Friday, 7 September 2012, I talked to a group of leaders touring from Pakistan, the topic ““Defining business success and the relevance of the environment on business” The group was touring Australia through an AusAid Australian Leadership Award scholarship (http://www.ausaid.gov.au/scholar/pages/ala.aspx). There were 20 people in the group, and the intention was to visit a number of successful enterprises and get an understanding of how SME’s are approaching dealing with the environment in Australia. The group stated in Queensland, visited Melbourne and will be in Sydney next week, before returning to Pakistan where they will share what they have learned …
Sustainability – actions not yet in the spotlight
I have spoken to a number of audiences both locally and internationally in the last two months about sustainability and how it is shaping the way we look at business. While there are a number of trends that are occurring globally, not many are drawing the media attention of the “Occupy” movement. There are numerous explanations of “Occupy” and it is taking media space because it is dramatic, making its point that the current economic model is inequitable by taking public action to capture both imagination and publicity. I question that the movement represents the “99%”, however they have received …
Starting and growing your business
I spoke to an enthusiastic group of entrepreneurs on Saturday afternoon. The group was organised by Linh Hoang, an outsourcing specialist at http://www.outsourcingangel.com/ and also http://www.redandblacksolutions.com/ . Linh organises the group through meetup, and the meeting schedule is here: Startup Grind Melbourne Melbourne, AU 4,077 Entrepreneurs Startup Grind is the largest independent startup community, actively educating, inspiring, and connecting entrepreneurs globally in partnership with Google for Startups.The c… Next Meetup Time Rich is the New Rich: How to Get Twice as Much Done in … Wednesday, May 27, 2020, 6:00 PM1 Attending Check out this Meetup Group → The group …
Strategy and Execution
Strategy is about direction, setting the path and the support mechanisms to deal with reality encountered as you strive to reach your destination. The following discussion is a little about strategy and more about execution. Making the decision about strategy is the first strep of many along the path to success. Strategy and execution …
The price of growth
If you can find the time, I think the following podcast summarises a lot of my thoughts on the issues companies face as they grow. pd-sound-business-podcast.html?Division=Victoria&Segment=The+Rest We work with a number of companies who are on a growth path, and some of the issues we face are almost the same – Capacity – can we deliver on our promises People – do we have the right people doing the right thing – and do they have adequate resources to perform well Money – how do we manage the flow The business model – can it deliver on our promise consistently …
Being prepared
I recently completed a number of interviews with CPA Australia in relation to recovering from a disaster. One of the topics that came up several times was about being prepared. While you may never be able to know in advance what may lie ahead of you, and lots of things that do happen are unexpected, it is how well you are prepared and understand your business and your personal and team capabilities that will allow you to achieve success. You can have a listen at: http://www.cpaaustralia.com.au/cps/rde/xchg/cpa-site/hs.xsl/pd-sound-business-podcast.html?Division=Victoria&Segment=The+Rest …
Disaster recovery
CPA Australia has a great resource on Disaster Recovery, and recently I recorded some advice at the following link: http://www.cpaaustralia.com.au/cps/rde/xchg/cpa-site/hs.xsl/knowledge-practice-toolkit-disaster-recovery.html The point about recovering from a disaster is that we all should be prepared to deal with the unexpected. Recovery is about understanding your business and being able to adapt quickly when unusual events occur. Have a listen. …
Sustainability
Some of the reasons it is important for a business to be aware of its environmental impact and manage sustainability: Reduce waste Add value to clients and suppliers Improve the bottom line Develop systems that use resources effectively and efficiently Effectively manage company brand and positioning Be a good citizen Contribute to the environmental awareness of its communities and workforce Reduce carbon emissions It seems to me that sustainability is about being mindfully aware of our impact on others and the planet and taking positive action now. Good business sense really. …
So what is innovation and why is it important?
Management has a reputation for overusing words to a degree that they lose their ordinary meaning, and eventually lose relevance, even for the best intentioned of managers. Management speak, especially when not genuine, has the capacity to make eyes role and attention switch off, and rather than encourage performance can act as a disincentive. Innovation is a word that is used frequently, and it is the overuse of the word that blurs the importance of what innovation can be for you and your business. “Innovation is a new way of doing things” is the definition provided by Moody and NoGrady …