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Health Recipes-VITAMINS & MINERALS #8 Live Zoom 10 NOVEMBER 2020 By Maureen G Mulvaney, MGM #1 Rated Prosperity Recipes Professional Speaker Contact Information: Website: www.MGMSuperStar.com Email: MGM@MGMSuperStar.com Business: 480-280-6776 AVAILABLE FOR GROUP SESSIONS AND PRIVATE SESSIONS Amazon Best Selling Author of: THE WOMENғ MILLIONAIRE CLUB Prosperity Recipes is a Practical Guide to LivinҠthe Dream! MGMҳ Prosperity Recipes Program Reveals the Secret Ingredients of 21 Women Millionaires! MGM Explores; Vibrant Health, Harmonious Relationships, Meaningful Ways to Give Your Gifts and Talents to the World and Your Treasures. This Series of Prosperity HEALTH Recipes Focuses Entirely on YOUR VIBRANT HEALTH. HOW TO ATTRACT AND MAINTAIN VIBRANT HEALTH! Finally, a PRACTICAL Prosperity Program, using Universal Laws, thatҳ helping thousands by providing EASY to Learn Prosperity Recipes for LivinҠTheir Dream Life. MGMғ Prosperity Recipes Program Provides a Set of Instructions with Specific Ingredients that Leads to PROSPEROUS RESULTS! VIBRANT HEALTH! EACH HEALTH RECIPES SESSION, Explores Different Bodily Systems from a Western and Eastern Medicine Perception. YouҬl learn how your body works, physically, and how you can create VIBRANT HEALTH TO have more ENERGY AND VITALITY. YouҬl enter the Abundance Banquet Hall where you will feast on Delectable Recipes to Attract..Your Ideal Vibrant Health, You Will be Expected to Get UP & Go Get YOUR OWN HEALTH from the Abundance Buffet Table. You Will be Encouraged to Manifest Prosperous Results for Yourselves, Your Family, Your Spiritual Community, and your World Community. You Will be Supported by your Fellow Prosperity Guests to эarinate in Positive EnergyҠand Vibrate at a Higher Level. MGMҳ Hilarious Speaking Style Mixed with her Cutting-Edge Content provides Participants an ѕnforgettable Learning ExperienceҠthat will be anchored with Practical Applications to Implement Effortlessly into your Daily Lives. You Will Make Forward MOVEMENT to CREATE VIBRANT HEALTH-Or Money BACK! Be prepared to Laugh as You Learn. Contact Information: Website: www.MGMSuperStar.com Email: MGM@MGMSuperStar.com Business: 480-280-6776 AVAILABLE FOR GROUP SESSIONS AND PRIVATE SESSIONS Amazon Best Selling Author of: THE WOMENғ MILLIONAIRE CLUB
The role of a COO varies widely from company to company and even within the same industry. A common theme is the COO's close relationship to the CEO. According to the book Second in Command, the COO's role is similar to that of the vice president of the United States. The CEO will often be the one who defines the COO's role, and this may be the case in some companies. This makes it important to choose a COO who understands how all these areas fit together and how to combine them to serve the needs of the company. The role of a COO involves directing and improving efficiency. This person reports to the chief executive officer (CEO) and serves as a go-between. He or she engages with production, sales, and personnel management to ensure that the company runs smoothly. When hiring a COO, make sure that they have a background in operations management. Then, find the right candidate who has the skills and experience to be the most effective COO for the company. As a COO, you have a broad scope of responsibility. Often, your COO will be the primary executor of the company's strategy. Depending on the nature of the business, your COO's role could include a variety of responsibilities. The job description of a COO will depend on the size of the company, the area of expertise, and the certifications you have. But regardless of your background and experience, there are certain things you should be prepared for in order to be the best at your job.

Wie Sie hochwertige Leads für Ihr Unternehmen generieren

 Software warum auf qualitäts-leads setzen? , was ist ein qualitäts-lead? , wie generiert man qualitäts-leads? https://www.le-blog-de-mathieu-janin.net/Wie-Sie-hochwertige-Leads-f%C3%BCr-Ihr-Unternehmen-generieren_a763.html
Sind Sie am suchen Methoden, um qualitativ hochwertige Leads für Ihr Unternehmen zu generieren? Wenn ja, dann sind Sie auf dem besten Weg. In diesem Artikel, werden wir einige Vorschläge und auch Ansätze, die Sie benutzen können, um Erstellung von Leads, die wahrscheinlicher in Kunden oder Klienten umzuwandeln sind. Wir werden anfangen, indem wir erörtern, was ein qualitativer Lead ist und auch, warum Sie sollten konzentrieren erstellen. Wir werden danach einige Vorschläge darüber teilen, genau man Top-Qualität Leads produziert, einschließlich genau man soziale Medien, Webinhalte Werbung, E-Mail Werbung, bezahlte Marketing auch Bleimagnete.
Lou Cysewski, EO Seattle, is co-founder and CEO ofïolperx, the worldҳ first net carbon neutral merchandising company. As a minority female entrepreneur, Lou shared her observations on the Olympics and how they reflected and exposed the struggles of female entrepreneurs striving to build sustainable businesses. With the 2022 Winter Olympics upon us, weҲe reposting this article that originally appeared on EOҳ Inc.com channel. The 2020 Summer Olympic games (which took place in Tokyo in 2021), were my 10-year-old daughterҳ first real exposure to competitive sports. SheҤ watch and ask, in her sweet innocence, ӗhy are the Americans teasing the other team with the ball? Why donҴ they throw it? I donҴ like that!Լ/p> Her observations alerted me to ways in which we see and experience competition throughout our lives. I noticed many similarities between the athletesҠexperiences prior to and during competition and my own journey over the past four years as a minority, female entrepreneur. Here are three observations I made about how the Olympics are similar to entrepreneurship: Courage is required. I care deeply about the environmental impact of my industry, which led me to gather carbon emissions data on all consumer goods. I knew I couldnҴ hold this data for just my clients. This was important information to share with the world, as we slowly but surely shift to more sustainable ways of working and living. But I was uncertain about presenting it publicly. The little voice inside my head, the one that questioned whether people would work for me, buy from me, and follow my lead at the beginning of my entrepreneurial journey gave me pause about my companyҳ important contribution to stopping and reversing climate change. During the Olympics, I watched athletes crouching on the starting lines and waiting for the starting gun so they could get out there and defend their gifts, strengths and talents. They were laser-focused and completely in the moment, ready to give their all. I realized that in order to succeed and push for a different future, I also had to get out there. My husband and I were surprised at how much slower some Olympic records of the past are compared with those that athletes are setting now. It only takes one exceptional athlete, with a mountain of courage, to completely raise the bar and change history. Like the Olympians, I need to get out of my head and raise the bar for environmental sustainability in my industry by revealing the attributes my company, Coolperx, was built to bring to the world. There is still a lot of bias to be dealt with. When I heard about the refusal to allow black athletes to wear swim caps that are comfortable for their hair, I thought of all the ways in which prevailing bias can keep us from evolving. Similarly, Sha҃arri Richardson joins Colin Kaepernick and many others who were ousted from sports simply because of their beliefs. They are now recognizable household names because of their efforts to draw attention to systemic racism and injustice. In my experience, female entrepreneurs are not taken as seriously as our male counterparts, despite the fact that 42 percent of all businesses are owned by women. Yet women own only 2 percent of business revenue. Any woman entrepreneur will tell you that the primary way systemic sexism pops up is the issue of securing adequate funding to start a business. When Iҭ invited to participate in a round of pitching to potential investors, itҳ more often than not part of a companyҳ marketing strategy around proving to the world that they care about equity for women. For example, IҶe had to post a 30-second pitch video on my social media and direct my followers to visit the companyҳ website to vote for me. My husband has never once been asked to pitch this way, but he has gotten into the room with some very large investors to pitch his inventions. Most of those rooms had no women on either side of the pitching table, further evidence of the many ways that insidious biases exist everywhere. You have to look out for your own mental health. Simone Biles and Naomi Osaka are proving that, in a world where self-care is not culturally accepted or guaranteed, you must occasionally be willing to put down some important work and take care of yourself. One of my cherished self-care actions, around which I place strict boundaries, are my therapy sessions. During my weekly appointments I can move out of my overly active thinking brain and into a more clear and present state, where I can look at myself and examine the impact Iҭ having on people and the world around me. Meditation and other forms of self-care are good tools, but I need more in order to do this important work. Clearing my own belief systems and biases is a crucial part of my mental health care. My job is challenging and often exhausting. Taking care of my own mental health enables me to reset, regroup and refresh my resolve. I see it as key to my companyҳ long-term success. Any woman who wishes to start a business, and any athlete who wishes to become an Olympian, must know how to stand strong in the face of many challenges. The road is not always clear, and we also need to keep renewing our own energy to continue on the path. This is, I believe, the winning formula for success. The post 3 ways the Olympics are similar to entrepreneurship appeared first on THE BLOG. ------------------------------------------- By: Anne-Wallis Droter Title: 3 ways the Olympics are similar to entrepreneurship Sourced From: blog.eonetwork.org/2022/02/3-ways-olympics-are-similar-to-entrepreneurship/ Published Date: Fri, 04 Feb 2022 13:32:17 +0000 Read More Did you miss our previous article... https://chiefoperatingofficer.blog/chief-operating-officer/executive-education-how-to-get-the-job-done-in-the-new-normal
What is a strategy? Simply put, it's a general plan for achieving a goal. It can be short-term, long-term, or an overall goal that is achieved under uncertainty. If you don't have one yet, read this article to learn more about developing a strategy for your business. This article will also cover how to measure the effectiveness of your strategy and how to keep it fresh. It will help you achieve your goals with your business. Defining a strategy What is a strategy? A strategy is a comprehensive plan for success in a given area, whether business, sport, or war. A strategy is a coherent response to a critical challenge, and the process of defining a strategy includes discovering the key factors and designing a plan to address these factors. This article discusses how to define a strategy, which can serve as the foundation for developing a winning strategy. A strategy is a set of goals and objectives for a company, so its managers must analyze its position and use methods to achieve them. A SWOT analysis is a common tool to identify weaknesses and strengths of a company and its industry to come up with a strategy that will lead it to success. A strategy helps guide the actions of management and employees and plays a pivotal role in decision-making. In addition to providing a clear direction for business operations, astrategy is crucial in providing the proper direction for a company. In defining a strategy, the goals must be aligned with the school's strategic direction. This process can take 18 to 24 months, depending on the complexity of the school's environment and its mission. A strategy is also measurable and flexible, allowing the school to adjust and update the strategy as needed. The strategic roadmap must provide clarity and responsibilities for each step in the process. Once a strategy is clearly defined, the process can proceed to the next step. Defining a strategy is an important process. A bad strategy can be a disaster, destroying a business, or even causing thousands of unnecessary deaths in a pandemic. A strategy can be very useful in establishing a strategy, but it requires hard choices and saying "no" to many potential interests. It defines the focus and sacrifices you must make in order to achieve your goals. Developing a strategy Developing a strategy for your company is critical to its success. The process requires managers to create a mission statement that states the company's purpose and emphasizes the needs of its customers. It forces managers to develop a clear strategy that includes measurable objectives, clear responsibilities, and realistic goals. In addition, requiring managers to develop concrete objectives forces them to think deeply about their strategy. However, the process is not without risks. One of the most important aspects of strategy development is communication. Because a strategy is a broad-based change, it must be implemented throughout the entire organization. Managers must implement the strategy within their departments. They must identify training needs and process improvements to make it a reality. However, it's not enough to develop a strategy. To make it successful, managers must communicate and train employees on the plan. Here are three tips for communication with employees. Creating a concrete implementation plan will help your strategy become more tangible to your organization's members. It will also be easier to communicate and understand, which will improve the strategy's implementation performance. To make it even more tangible, use a framework that involves specific execution tasks for each of your organizational units. The implementation plan will help your managers understand and execute the strategy. When done correctly, strategy development and execution are integrated processes that lead to success. In order to effectively develop a strategy, you must align your company's mission with the changing environment. While external factors may be out of your control, internal factors are often hard to predict and can affect the success of a strategy. To help you analyze both internal and external factors, you can use the TOWS matrix. ToWS is a combination of the SWOT and Porter's Five Forces analysis. Using this matrix helps to determine how your company can benefit from these external changes. To create a successful strategy, executives must take a long view of their starting position and their future goals. After analyzing these details, they must identify different ways to win the game. After determining the best strategy, executives must then create a plan and reallocate resources to implement the strategy. This is the crucial first step in developing a strategy. If you're going to implement a strategy, make sure you know what your strategy is and how to implement it. Measuring strategy success Measuring strategy success is an important step in the process of evaluating marketing and reporting activities. Organizations that have not yet developed a measurement strategy should gather the relevant stakeholders to set goals and align around success measures. These objectives should include specific goals, key performance indicators (KPIs), metrics, and ways to segment them. Once the goals and metrics are set, the organization should organize the information into a grid called a measurement matrix. In this matrix, each analysis segment can be evaluated separately, and any success is important and can be attributed to a specific strategy. The selection of strategic measures is crucial to the success of your business. Selecting the right ones can help you build brand recognition, add to the bottom line, engage staff, convince stakeholders, and develop a loyal customer base. In choosing the right measures, consider the following tips: First, determine the objectives of your business. The objectives should be clearly defined. By doing this, all parties in the planning process can reference them. If your objectives are unclear, you may find it difficult to implement the strategy. As such, it's vital to define these objectives before beginning the planning process. After all, if your strategy isn't working, you can't do anything about it. And when you have a clear strategy, you can build your company's capability to overcome future challenges. Identify the key performance indicators (KPIs). These KPIs will help you focus on the metrics that matter. The KPIs help you understand the strategy's impact on your business and how to better execute it. This will help you measure your progress towards your objectives. A strategic goal may have been to increase new customer trials by 15% in 2019; however, the objective might have been to grow net-new revenue by 30%. Developing a strategy for a company One of the most important aspects of developing a strategy for a company is its core purpose. This is the declaration of why you exist. This statement identifies your core values, highlights your strengths, and highlights your customers' needs. While it might seem like an abstract and lofty idea, a clear understanding of your mission and values will help you formulate your strategic goals. Developing a strategy for a company should not only outline your business model, but it should be as short and simple as possible. Once you've identified your strategy, you must implement it. It's vital to communicate this new direction to every employee in the company. It's important to get buy-in from all levels of the organization, including the functional operators. Managers should be involved in the implementation process, including the training needs and process improvements. They can also help implement the strategy. However, the best implementation plans are those that are implemented and communicated well across the organization.
Subscribe Here! Email Address Subscribe to Supply Chain Game Changer The Digital Supply Chain road, or Supply Chain 4.0, is the path to the future. Enabled by highly publicized technologies such as Blockchain, Big Data, the Internet of Things, Autonomous Vehicles, Cloud Computing, Artificial Intelligence, Virtual/Augmented Reality, 3D Printing and more the Digital Supply Chain holds great promise and exciting opportunities. But even with established technologies the road to implementation can be challenging to say the very least. As you are developing your Digital Supply Chain strategies it is important to understand, consider, and account for the inevitable problems and obstacles that will test your resolve and your leadership. It is an extremely exciting time to be in Supply Chain. The range of new technologies that have direct applicability to Operations, Logistics, Procurement, Distribution, Planning, Management, and all end to end Supply Chain activities is staggering and unprecedented. But anyone who has been in Supply Chain long enough and has gone through the experience and pain associated with implementation of new processes, systems or technologies knows that there are problems galore. Even with established technologies such as ERP, TMS, or WMS systems just surviving a system implementation can be a miracle. Given that there is a lot of past experience with obstacles and hurdles associated with trying something new it is most appropriate to consider those experiences, learnings and battle scars as you develop your strategies and plans to implement new Digital technologies. 1. Lack of a Strategy It can be very exciting to think about all of these new technologies and just jump in and start implementing things. But Supply Chainҳ scope and responsibility is so vast, and there is so much technology and complexity involved, that a knee jerk approach to going Digital without a larger plan will inevitably fail. Develop a thoughtful overarching Supply Chain strategy for your business first, including deployment of a Digital Supply Chain, and from there you will have a plan and approach to invest and implement these technologies in a more calculated and impactful manner. This can be an iterative process whereby you refine your strategy as knowledge increases and circumstances change over time. 2. Technological Immaturity Technology is always changing, improving and advancing. It can be difficult to try and keep up with the latest advancements which will invariably surpass whatever you implement. For those who are thinking of developing internal, home made systems they will soon find that this is not only a resource intensive and time consuming approach but it is costly and will be soon outdated. There are enough companies out there developing Software as a Service (SaaS) covering all technological needs that you can buy or rent software more cost effectively than doing it yourself. Further the company providing the software will do all of the work keeping it up to date and managing all of the back office work. This approach will allow you to keep up with any and all technological advances. And if you wait until technology is full developed you will never make any changes. Even well understood systems like ERP and TMS are constantly being improved. Another issue is the lack of standards. As the technologies evolve it is critical that there be some set of standards. Implementing Blockchain, for instance, requires that literally tens of thousands of suppliers be operating on the same Blockchain platform. We discuss this in Maritime Industry in Search of Blockchain Orchestrator. A failure to adopt standards will impede technology adoption and progression. 3. Fear of Failure Implementing new systems, making big changes, and introducing technologies can be scary. And there is absolutely no guarantee that these investments will be successful. In fact there is a very good chance that at least some aspect of what you are trying to change will fail or at the very least fall short of expectations. And especially for those who are leading the change they are, and should be, held accountable. Executives will want answers and some of them truly do give lip service to the idea of understanding and accepting failures. But doing nothing or only making safe changes will do no one any good. True leaders will be courageous and bold and drive changes that are not 100% guaranteed to succeed. If there are failures then the key is to understand what went wrong, to learn from these mistakes, mitigate impacts, and make course correction as needed. 4. Cost and Return on Investment Hurdles New Supply Chain systems can cost a lot to implement. Depending on what changes you are making millions of dollars can be required. Especially when you get in to making physical changes (eg. conveyor, sortation systems) in Warehouse or Distribution Centers the dollars can add up pretty fast. Any new investment must also inevitably clear financial hurdles within your company. Return on Investment, payback period, and cash flow are all items your finance team will certainly want to see in your business case. While the expenditure of money is unavoidable if you are going to make any meaningful change in the area of digitalization there could be alternatives. As discussed earlier there are options to rent, or lease, software (SaaS) for instance and avoid the extensive internal resources required with developing and maintaining home grown software. Additionally we believe that to bring these technologies into the reach of more small to mid size companies there will be a greater proliferation of companies offering services which can serve these needs. We call this Supply Chain as a Service (SCaaS). Think about outsourcing not only software but services as the platform to create your Digital Supply Chain. 5. Inadequate Resources and Skills Everyone in your organization is busy. So when it comes time to tap people on the shoulder to work on a new project there is can be real challenges in terms of resource availability. On top of that the skills that you will need on the Digital Supply Chain road can be significantly different from the skills you need to run todayҳ conventional Supply Chain. In Quantum Leap to the Top 10 Supply Chain Skills of the Future we discuss the many characteristics that need to be developed in your team. There will be a return on your investment in terms of resource savings. Simply there will be fewer people needed to do transactional activities and more people required to do more analytical and higher level activities. Investment in resources and skills development is essential to realizing your Digital Supply Chain strategy. 6. Lack of Buy-In Making change happen is often very difficult. The type of change you are making affects processes, systems, policies and practices, long standing ways of operation, and most significantly peopleҳ jobs. For that reason there can be just as many people working to make your changes fail as there are trying to help you succeed. At its extreme people can actually work to sabotage your project and stop it in its tracks. There is no denying this reality. As such it is best to face it head on. For any change that you are making you must engage Human Resources and be ultra sensitive to the human aspects of the change and not just the technical aspects. For that reason we believe that you must incorporate a Change Management Work Stream into any project. It is also most important to get Executive Sponsorship for your program. Having the CEO, for instance, acting as a vocal supporter and advocate for the Digital transformation you are undertaking will help to quiet dissension and bring people on board. You must spend the time to educate, update, and convince Executives of the importance of your Digital Supply Chain strategy. 7. No Process Improvement Focus Most people think that there are opportunities to improve systems, job tasks and operating procedures. Unfortunately many people also think that just installing a new system on top of the current way of doing things will make things better. It wonҴ! Just automating the existing process will not improve it or make it more efficient. It will only make the existing bad process produce bad results more quickly. Before ANY system change it is absolutely critical to map out both the Current State and Future state processes. Optimize the process FIRST and then install a system that supports, and advances, the new process, not the old process! 8. Time is Not on Your Side! Unlike the song time may not be on your side. There could be issues of company survival, competitiveness, cash flow, resource constraints and more. And an ambitious Digital Supply Chain strategy can be very complex requiring the deployment of multiple technologies. By definition this can be very time consuming. If you do have the pressure to make changes faster then lack of buy-in may not be your issue. So you do need to consider alternatives to help shrink the time line to implementation. As discussed previously Supply Chain as a Service (SCaas), SaaS, Outsourcing and more are all strategic options that will enable you to get going faster. The Digital Supply Chain Road The prospects for a Digital Supply Chain are incredible exciting. It is the future. It only a matter of time before your competitors will be leveraging a Digital Supply Chain platform to succeed. But as exciting as the Digital Supply Chain road is it is also full of potholes and obstacles. It is important to be cognizant of these challenges and incorporate strategic elements to mitigate, to avoid, or to overcome these. Copyright 頍ortson Enterprises Inc. All Rights Reserved. Originally published on August 20, 2019. The post The Digital Supply Chain Road is Full of Potholes, Construction and Accidents! appeared first on Supply Chain Game Changerٮ ------------------------------- By: supplychaingamechanger@gmail.com Title: The Digital Supply Chain Road is Full of Potholes, Construction and Accidents! Sourced From: supplychaingamechanger.com/the-digital-supply-chain-road-is-full-of-potholes-construction-and-accidents/ Published Date: Wed, 13 Oct 2021 10:24:56 +0000 Read More Did you miss our previous article... https://chiefoperatingofficer.blog/suply-chain/seasoned-leadership-in-action-tm-a-conversation-with-wolfgang-lehmacher
Subscribe Here! Email Address Subscribe toSupply Chain Game Changer Featuring Our 12 Best Procurement Articles! Itҳ a good question. We often see these terms used interchangeably, but there are some concrete differences between Procurement and Purchasing such that we think they are two different practices, each with their own set of concerns and skills. We thought weҤ take it upon ourselves to do a summary-style Infographic that highlights some of the core differences between whatҳ considered ӐurchasingԠand whatҳ considered Ӑrocurement.ԠIn short: Purchasing is an activity thatҳ a subset of the overall Procurement process. But thereҳ more to it than that. We should give a caveat: in some professionalsҠopinion, arguing about the difference between these areas is a matter of semantics. The terms are often interchangeable. But at the very least, the discussion helps give some perspective on two different approaches to how organizations buy the goods and services they need to run. Some organizations are ֠sadly ֠still concerned only with ӐurchasingԠinstead of the more nimble and strategic approach of Ӑrocurement.Լ/p> Check out the Infographic below! We hope you enjoyed the Infographic. There are many different opinions about the definition of Procurement and the definition of Purchasing. There can be differences of opinion between Industries, across Geographies, and from various levels and parts of your organization. Most importantly individuals may have different views of these functions even if they work beside each other. Please share your thoughts on this comparison! Originally published on Supply Chain Game Changer on August 2, 2017. The post Whatҳ the Difference between Procurement and Purchasing? (Infographic) appeared first on Supply Chain Game Changerٮ ------------------------------- By: supplychaingamechanger@gmail.com Title: Whatҳ the Difference between Procurement and Purchasing? (Infographic) Sourced From: supplychaingamechanger.com/whats-the-difference-between-procurement-and-purchasing-infographic/ Published Date: Wed, 13 Oct 2021 20:03:00 +0000 Read More
The primary responsibility of the chief financial officer (CFO) is to monitor the company's financial health. These duties include risk management, record-keeping, and financial reporting. The CFO may also make strategic recommendations to the board of directors. If you're wondering how to become a CFO, read this article. It will give you an overview of the role and responsibilities of this position. Also read about the different types of CFOs. CFOs are responsible for monitoring a company's financial health The CFO's role is to monitor a company's financial health. In this regard, there are several indicators that CFOs should look for, including Accounts Payable Turnover (APT), which measures the amount of time it takes to pay suppliers. A decreasing ratio means that cash flow problems are developing, while an increasing ratio indicates inefficient resource allocation, meaning that the company could be using money more efficiently. Understanding the underlying causes of financial stability and distress is essential to a CFO's role. He must question trends in the company's financial statements and other ratios, and understand how these trends relate to the strategic plan. In order to ensure this, he or she must use a common language with other business managers. Regardless of the industry, CFOs are expected to be aware of changes in the financial market, and the company's competitors. Another key function of a CFO is to provide forecasts. Financial forecasts are based on a company's performance, as well as internal and external factors. The CFO is also responsible for departmental forecasting and profit projections for the CEO. Among the internal and external factors that influence forecasts are sales trends, labor costs, and other business metrics. External factors, on the other hand, include new competitors and technological advances. As a CFO, you have the power to drive growth through expansion. The right team is critical to business success, and a CFO can be the key to achieving it. In addition to financial performance, a CFO's cross-functional understanding of the company will help him or her identify key capabilities. They will also ensure that the company's strategy and execution are in sync. They manage risk The role of the modern Chief Financial Officer (CFO) has evolved significantly from the time when he or she was simply a numbers-driven analyst to the time when a CFO oversees initiatives throughout the digital enterprise, and has a much deeper focus on risk. According to Accenture, the role of the CFO is expected to change in the years to come. It takes a new set of skills, and requires a CFO to be more knowledgeable about security threats, technology trends, and regulatory hurdles. CFOs must be well-versed in financial and commercial risks to effectively manage them as a company implements its strategy. They must also have a firm grasp on the internal controls environment and ensure the business maintains a strong financial reporting process. This is a crucial role for the CFO. The CFO can help the C-suite manage risk by developing a comprehensive risk management strategy. And while the CFO is the head of the finance department, he or she can still be a key partner to the business's board. A CFO's role has become more complex as regulatory pressures increase the need for more timely and accurate financial information. An Accenture report reveals that CFOs and finance teams are increasingly involved in data management and governance, two key areas of risk management. Unfortunately, only half of CFOs say they can harness the benefits of data analytics and risk management to the fullest. The report cites a recent Accenture survey where executives indicated that they do not know how to effectively manage risk. A Chief Financial Officer must have several years of senior management experience. They should have a degree in finance, accounting, economics, or business. Many CFOs begin their careers as accountants, external auditors, or managers of small divisions. The years of experience they gain in the field will vary based on the size of the company they work for and the extent of their responsibilities. However, many CFOs hold an advanced degree in their field. They comply with regulations As the chief financial officer, you have a great responsibility to ensure that your organization is in full compliance with all applicable regulations. If you suspect that a business is not in compliance with the regulations, you should immediately bring the issue to the Board of Directors and the Audit Committee. They will discuss it and determine the appropriate action. In many cases, these actions will include a written notice to the individual, censure from the Board, demotion or re-assignment, suspension with or without pay, or termination of the individual's employment. As the chief financial officer, you are responsible for overseeing the budget, accounting systems, and financial performance requirements of the corporation. You also act as a liaison between executive management and staff, and must be fully aware of all relevant federal and state legislation and initiatives. As the chief financial officer, you have to coordinate reporting to the State and review the timeliness and accuracy of data submissions. Your job description may include other duties, but these are the main responsibilities. The Chief Financial Officer is also responsible for maintaining the integrity of the organization's financial records and finances. He or she may access Department records and documents, as well as those from the Office of Inspector General. In addition, he or she may request information from any other governmental entity. The Chief Financial Officer should be familiar with these regulations and be aware of all the ways they are changing. It's also important to stay up-to-date on changes in accounting and financial management, because they may affect your organization's ability to meet government goals. A CFO is responsible for overseeing the financial health of an organization, including developing long-term financial plans and forecasts. He or she will advise the chief executive officer on strategic directions, such as ensuring compliance with laws and regulations. Generally speaking, the CFO reports directly to the board of directors and is the strategic advisor for the CEO. In addition to overseeing financial matters, the CFO also manages the organization's accounting and finance staff. They manage cash flow Cash flow management is crucial for the survival and growth of a company. Managing cash flow is critical because expenses can run out of cash faster than revenues. According to a survey by the U.S. Small Business Administration, a business's failure is the second most common reason for not making a profit. It is therefore crucial for the CFO to be knowledgeable about the cash position of a business. However, despite the fact that cash flow management may seem like an obvious task, the reality is that circumstances can change. Hence, it is important to plan for possible cash flow issues. To become a successful CFO, you should possess a demonstrated track record in financial management and must have extensive experience in nonprofit organizations. The right candidate will possess in-depth knowledge of accounting practices and multiaffiliate nonprofit reporting. In addition, he or she should be able to communicate with the Board of Directors and executive teams. Finally, he or she should have excellent listening and coaching skills. The successful candidate will be responsible for managing the cash flow of the organization and funding programs on an as-needed basis. The current economic climate has created unprecedented uncertainty for businesses, which has made it critical for CFOs and their teams to track numbers in real time. While governmental stimulus plans have provided some relief, most businesses are unlikely to see an influx of cash in the near future. In addition, businesses need to be ready to react quickly to changing conditions. As a result, it is essential that finance teams keep track of data in real time and understand it in detail.
Undoubtedly the economies of almost every nation have been badly hit by the pandemic of COVID-19. All the businesses operating in the global market have been adversely affected by this significant problem, and signs of healing are not even near. Stats show that this adverse impact on businesses worldwide will continue to the following year. Many companies might also face permanent closure amid this pandemic. Larger corporations like the famous MNCs might be able to cope with this loss, but the real trouble is for all the small businesses in the global industry. Things are uncertain for small businesses, and they do not seem to get better any time soon. Small businesses live on the earnings of a few prior months, and they cannot last long without profits. In such situations, the entrepreneurs of small businesses might panic and close their ventures in fear of a significant loss. So, surviving during these challenging times will be exceedingly difficult, especially for these small ventures, and the answer to their problems is also not that straightforward. However, there are always some pointers, which these merchants must practice to control the possible damage. Stay composed Not losing your composure is the first and foremost thing to do when going through tough times. Business owners must not panic, and they should stay calm. They should also take care of themselves and their businesses and do not even think of closure unless things become extremely tough for survival. Doing this can be incredibly challenging, especially when you are gradually running low on cash. Also, you have the fear that you will run out of money very soon. When the panic begins, remember, you need to maintain your calm and composure. Take good care of yourself in any possible way you deem fit. For example, do your daily exercise, try to get enough sleep, eat well, etc. Lookout for aids In such situations of uncertainty, there is always an aid program announced by the state. Look out for it and grab as many resources through it as you are allowed to. In this way, you might get enough help as needed and assigned to you in your quota. It might be just sufficient for you. These aid programs from governments worldwide are especially for middle and lower-class people. These programs are for those too who are running small businesses. Since they know that owners of large corporations will be easily able to cope with the pandemic, and they would deal with no critical damage since they have enough resources, large corporations can survive on their revenues for years. The pandemic is temporary, and people have already come up with solutions since we do not know how long it will last. The good news is that the pandemic taught everyone alternate ways to work on a business and to think outside the box, which is a crucial entrepreneur skill that every business person must have. Look out for alternatives and how you can benefit your business during the hard times. Look for opportunities Find ways to continue your business; for example, if you can shift your business online, why not? You need to work on a few tweaks and start an online business. So, let us say you run an institution, take classes online. And if your business is product-based, you can still thrive online. If you have a brand, shift your business to social media. Before the pandemic, most people already loved shopping online since they had no time or energy to go out and shop, which means you already have half of the social media population on your side. And now, because of the pandemic, people have moved to online shopping since they do not have another choice. Either way, it is a win for you. Once the pandemic is over, regular business competitions will probably be more competitive than ever. So as a heads-up, you must be prepared and work hard on your strategies. These hard days shall soon pass; look at everything as an opportunity. About Complete Controller Americaҳ Bookkeeping Experts Complete Controller is the Nationҳ Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controllerҳ technology, clients gain access to a cloud platform where their QuickBooks file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controllerҳ team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. The post Conducting Business During COVID-19 Pandemic first appeared on Complete Controller. ------------------------------------------------------ By: Complete Controller Title: Conducting Business During COVID-19 Pandemic Sourced From: www.completecontroller.com/conducting-business-during-covid-19-pandemic/ Published Date: Mon, 20 Dec 2021 18:00:05 +0000 Read More Did you miss our previous article... https://chieffinancialofficer.blog/controller/all-you-need-to-know-about-a-subprime-loan-mortgage
For small entrepreneurial businesses, equity compensation can be a very attractive way to attract and retain highly talented employees. In a nutshell, equity compensation is defined as non-cash remuneration that takes the form of stock options, restricted shares, employee stock purchase plans, and other vehicles that provide employees with an equity stake in the company. Equity compensation may also apply to non-employee services provided by independent contractors, board members, or advisors. This is a win for the company because it requires little or no initial cash outlay and provides a powerful incentive for all parties to drive the company forward to success. Itҳ a win for employees and contractors because the potential upside can be very high. The downside, of course, is that the companyҳ equity could turn out to be worthless. In this respect, equity compensation offers a model in which both risks and rewards are shared by plan participants. Different Forms of Equity Compensation Equity compensation can take a number of different forms. These include: Employee stock options afford an employee the right to purchase a given number of company shares at a predetermined price. Employees must generally time purchases to specific periods, providing incentives for employees to remain with the company long enough for shares to vest. There are two types of employee stock options ֠incentive stock options and non-qualified options. These two are taxed differently, and there are different guidelines that dictate who is eligible to receive them. Employee stock purchase plans ( ESPPs) enable employees to buy shares of the company at a discounted price, often using after-tax payroll deductions. There are qualified and non-qualified forms of ESPPs. The former offers some tax benefits, although it may require a minimum holding period or vesting period. Restricted stock units (RSUs) involve an outright grant of shares, with a vesting requirement. Employees pay nothing for RSUs, but are liable for taxes when the shares vest. Restricted stock awards (RSAs) do not involve a vesting date, but may require employees to pay for shares at fair market value. Stock appreciation rights ( SARs) give an employee a claim to the companyҳ share price increase over a given period. SARs do not require the employee to actually purchase shares. They often involve a simple cash payment in lieu of actual shares. Performance shares are awarded for achieving predetermined performance targets. They are frequently given to top executives and board members and aligned with strategic company objectives. Managing Equity Compensation Plans Although equity compensation plans can be a very powerful component in your companyҳ overall strategy, there are a number of complexities to consider. These include share dilution, employee income reporting requirements, legal compliance, and properly accounting for expenses and liabilities in the companyҳ financial statements. Early startup companies may find it difficult to accurately assess the value of equity shares. This presents a number of challenges, potentially impacting hiring decisions and appropriate share allocations for new employees, as well as tax reporting and financial accounting. Although companies may find valuation difficult, there are several well-established methods for coming up with a reasonably accurate number. Perhaps even more importantly, these approaches provide your company with the legally sound method of determining share values, which supports you in your efforts to remain compliant with all relevant legal, reporting, and tax standards. A key element in managing equity compensation is a cap table (short for ӣapitalization tableԩ. This is a list of company shareholders, plus any warrants, options, and other related securities. The cap table provides one-stop visibility to the companyҳ overall capital structure as well as detailed information pertaining to each stakeholder. It lists each ownerҳ legal name and address, spells out how much was paid for equity, and calculates the percentage of ownership for each investor. Cap tables can also serve an important function in managing the company. When human resources wants to make an offer of employment , theyҬl need to know how many shares are available, and how much of an incentive those shares might represent. Without an up-to-date cap table, the company wonҴ have accurate answers to those questions. The best equity management solutions will make it relatively easy to manage cap tables and record allocations of company stock, whether that is in the form of options, ESPP shares, RSUs, or any other vehicle. TheyҬl also streamline tax reporting and compliance, helping your company to avoid potential headaches down the road. Tax and compliance issues can be especially complex for companies with a globally dispersed workforce. Proper management of equity compensation requires an adequate understanding of the particular requirements in each jurisdiction (including tax compliance and regulatory reporting). Capitalization & Equity Compensation Management Access Resource Scaling Up Early startups often resort to spreadsheets to manually track equity compensation. Before long, though, that process becomes unwieldy. As the company takes in new rounds of investment and as new employees join the organization, the cap table can quickly grow complicated. Keeping your cap table up-to-date can become challenging. As it becomes more and more complicated, the likelihood of errors can increase significantly. With each new investment round or new hire, new entries must be made into the cap table. As employees leave the company or exercise options, you must make further adjustments. Many companies end up with multiple versions of a cap table spreadsheet, leading to confusion about which is correct. Considering the negative impact of getting things wrong, companies should place a high priority on accurate, reliable management of equity compensation plans. Good, clean record-keeping becomes critically important to meet legal and tax obligations and to maintain positive relationships with investors. They need systems that can easily scale up as their business grows. Tailor-Made Tools for Equity Compensation Management A word of caution is in order here: growing companies should not wait until things get too complicated before they take action. The time to bring equity management under control is when things are still working well ֠not after they have broken. Certent Capitalization and Equity Management provides private companies with complete and accurate control over the capital management process. As your company grows through various rounds of funding, through IPO and potentially even the complex world of public company equity and reporting management, Certent can scale with you. Start your business off on the right track. Just got Handed Equity Compensation? 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Δ The post Ultimate Guide to Equity Compensation Management and Software appeared first on insightsoftware. ------------------------------------------ By: insightsoftware Title: Ultimate Guide to Equity Compensation Management and Software Sourced From: insightsoftware.com/blog/guide-to-equity-compensation-management-and-software/ Published Date: Fri, 04 Feb 2022 20:40:20 +0000 Read More