When it comes to succession planning we often look outside the business for the next CEO rather than internally. In a recent HBR article Joseph Bower explores the trends in S&P 500 companies, finding that 80% promoted insiders in the past 12 months. So, which strategy is more successful and why?
When I start to reflect on discussions, interactions and business dealings with entrepreneurs over the past years they all seem to have some things in common. Typically, they have a good appetite for risk, but more importantly is that they are able to think quickly and make changes in their business that allow for adaptation as they realise what it is the market wants.
Understanding your business numbers isn’t always easy. So here are 5 Financial Ratio’s you can use to gain further insight into the performance of your business.
Setting goals is the key to achieving pretty much anything worthwhile in life. Whether it be in business, in your personal life, with health, with your family and children. If you don’t set goals how do you know where you are going? How do you know when you get where you wanted, so you can set some more goals?
