When a conflict of interest disclosure reveals a potential, perceived or actual conflict of interest, a management strategy needs to be in place to document and proactively address questions that may arise regarding an individual's objectivity, integrity or professional commitment as a result of the disclosed activity, relationship or financial interest. A Conflict of Interest Management Strategy outlines …
Continue reading Why is it important to manage Conflicts of Interest?
Many of the world’s most successful businesses are run by multigenerational families. Walmart, BMW and Samsung are three prominent examples. However while over 70% of businesses are family run, only 30% survive the transition from first to second generation and just 12% making it to the third generation. What is it about family businesses that make them …
Continue reading Does your family business have a succession plan?
I many times come across clients who need a Business Plan for various reasons, many times for bank financing or other funding applications. I however rarely meet any business owner or manager who really understands the value of a good Business plan and that such Business Plan needs to be constantly updated. Business Planning is …
Continue reading Writing a Business Plan – beyond the financials
It is obvious that Malta's economy rests on SMEs and family businesses. In dealing with many SMEs as part of my work, I have come to realise about the various external challenges they face and the internal weaknesses they presently operate with. In the last publication of "The Accountant" journal I had an article published …
Continue reading Common Challenges faced by Small Businesses
Leadership has always been a topic I loved. I was always intrigued by the power that good or bad leadership has on people. The power to inspire or literally destroy people. In all my reading, I never found a better research article like the one published in 2000 by Goffee and Jones, headed with "Why …
I often hear business leaders grumble that he/she cannot understand why suddenly his/her business is struggling, this although they work hard at it. As they say the only constant is change but surprisingly many business leaders overlook just that. There are multiple dangers that come from not changing and adjusting to new customer expectations, competitors, …
Continue reading Why do leaders fail to think strategically?
A Business Blog for SMEs & Family Businesses 