Category: General

84% of CEO’s who participated in the 14th Annual PricewaterhouseCoopers LLP  2011 Global Survey report they are changing their focus to “bridging skill gaps to meet emerging growth opportunities”.

Because new markets are presenting new challenges, businesses, including the internal audit function, must shift to adapt to increased and complex risks, international acquisitions and partnerships, and varying country regulations.

Interestingly, many internal audit functions are not involved in the strategic changes of their companies when it comes to the emerging markets and new technologies.  Yet this is not only where most business growth is predicted, but also where risk management is most needed and can potentially add the most value.

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In business, what you don’t know can – and inevitably will – hurt you. It’s a truth that can be delivered with a particularly large hammer via loss of market share, lawsuits, and even bankruptcy.

Usually, when I begin working with a company, it’s because they are in some kind of trouble that could have been prevented had the executive team had a consistent system for evaluating the status of their business. Large companies have teams of auditors to do this task, but executives in privately held smaller companies often ignore the critical details of a proper systems analysis until it’s too late.

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Corporate values is a subject that’s been given much attention since the days when Tom Waters and Bob Peterman, management experts, started popularizing the concept in the latter part of the 20th century.

Although the idea is a good one, as demonstrated by the continued success over decades of companies like Apple, Marriott and Sears through good times and bad, values now are too often platitudes and tag lines that have little meaning to the company’s management or employees. Even worse, arbitrary values chosen by executives often conflict with the real goals of the company and are used in an attempt to motivate confused employees.

Is it time to conduct an audit of the values eschewed by your business? Do you know the goal of your company’s values (often called core values)? Has your team integrated them into everyday business operations?

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Quality service, quality products, quality control, quality committees.

Focusing on these aspects of quality are all a part of your business because you know how important it is to the bottom line and your company’s reputation. Yet as a business owner or leader, there is an area of quality that is critical to your personal leadership effectiveness.

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If you are like most successful leaders you place your business, your team, your next product or service and your clients or customers first. It just makes sense, because this kind of prioritizing is just what propelled you to where you are today.

Often executives tell me that they want more balance in their lives – to work less, stop over delivering and undercharging both in terms of their customers and themselves. As your business grows it’s likely that the decisions get tougher, the implications of decisions have more impact, and the level of stress rises. The very work and achievement ethic that has brought you to the top may be draining your energy and overloading your action list, leaving you with little time to enjoy your life.

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Here’s a dismal and startling fact for business owners: “70 per cent of small businesses go broke before their 10th anniversary,” according to the U.S. Small Business Administration.
The most important question that owners and executives need to ask is “why?” Without knowing the “why,” you can’t make the critical changes that will allow your business not only to survive, but to prosper. Naturally, there are many reasons why a business might fail, including economic downturns, reduced demand for a company’s core products and ineffective marketing and/or advertising.

However, there are many other silent killers that sink otherwise sound businesses every year. The good news is that these company killers can be corrected if identified early enough. The bad news, however, is that most business owners and executives simply don’t know where to find the source, or more frequently multiple sources, of their losses. While they may realize they’re not as profitable as they should be (their bottom line tells them that), no matter how many times they crunch the numbers, a full understanding eludes them.

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In this fourth and last of my four part series on the Chinese influence on the U.S. and global economies, we focus on the benefits of working with international expertise for your business if you have plans to enter the Chinese business market.  My own extensive Asian market business experience prompted me to write this series for you to help you understand more about how you can open your business to benefit from the Chinese markets.  (for access to the first three articles in this series, go to www.lourdesgant.com/blog.

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Intro: In this third of my four part series on the Chinese influence on the U.S. and global economies, we focus on the preparation work necessary for your business if you have plans to enter the Chinese business market (for access to the first two articles in this series, go to www.lourdesgant.com/blog)

Preparation ups your chances of success in international market

‘Failing to prepare means preparing to fail’ seems like another one of those management coaching phrases that is all about word play.  Yet like most trite sayings, it’s based in truth.
Everyone can think of a few people and companies who lucked out without having much of a clue what they were doing. But let’s be intelligent about it. Preparation helps you chances of success. A lot. And unlike luck, you can do something around being prepared.

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“No other country shocks the global economic hierarchy like China.” This statement is from the book China Inc. by Ted C. Fishman, written in 2005.

With my extensive experience in the Chinese market, I know how important it is for you and your business to understand the ramifications of the Chinese influence on the U.S. and global economies and vice-versa. A clear understanding of some of the key issues will help you make sound decisions if you are doing or considering doing business with a Chinese enterprise, directly or indirectly.

In this second of my four part series, we begin the review of the importance of learning how to work in the Chinese business market (for access to the first article in this series, go to www.lourdesgant.com/what-you-need-to-know-about-the-chinese-economic-picture#more-284

China, no matter how much you complain about how their lower prices, isn’t going away. More than that, with the US economy pulling round achingly slowly from recession and Europe teetering on the edge of a banking collapse, China could be the only game in town.

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“No other country shocks the global economic hierarchy like China.”  This statement is from the book China.Inc by Ted C. Fishman, written in 2005.

With my extensive experience in the Chinese market, I know how important it is for you and your business to understand the ramifications of the Chinese influence on the U.S.  and global economies and vice-versa.   A clear understanding of some of the key issues will help you make sound decisions if you are doing or considering doing business with a Chinese enterprise, directly or indirectly. 

I’ve prepared for you a four part series to share what I’ve learned about doing business in and with Chinese companies.  In this first of the series below, you’ll find a broad view, big picture information that you may find surprising.  It sets the stage for future articles dealing with how your business can best manage in this emergent economic climate. 

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