Ever seen a black swan? The term was coined by Nassim Nicholas Taleb. A finance professor and former Wall Street Trader, Taleb created the term in his book, “The Black Swan”. It describes a situation that is both unexpected and hard to predict. Events like 9/11, Brexit, and natural events (like an earthquake) have caused
We hear about the Silo effect in companies all the time. Silos are formed in the large public companies as well as in small private companies. These organizational Silos can impact the profit potential of an organization because each department or silo is kept separate from one another. In this blog, we’re looking at the Silo
Job costing, cost accounting, manufacturing costs, what does all of this mean? Oftentimes, job costing, cost accounting, and manufacturing costs are used interchangeably. As a manufacturer, it does not matter what you call it. But it is critical that as a manufacturer, you capture all of your conversion costs. Simply put, you are taking raw material
Not too long ago, the Human Resource (“HR”) function was a clerical position that focused on helping the management team set appointments to interview prospect employees looking for work. Or they kept track of hours worked for a company. But those days are gone. HR impacts your business in ways that it once had no
Many people use Chief Financial Officer (“CFO”) and Controller interchangeably because they think it is the same position. In some companies, a Controller could be the top financial leader. But that does not mean they are a CFO or CFO-level. Before we answer the question of do you hire a Controller or a CFO, we
Difference Between Recruiting vs Staffing The difference between recruiting vs staffing is that recruiting is acquiring talent to be a full-time employee. Whereas staffing is the hiring of an agency to provide temporary workers. Recruitment / Placement There are many recruitment agencies or placement agencies. It may also be referred to as a retained search. They
See also: Recruiting vs Staffing What the Current Hiring Process Costs When You Know It’s the Right Hire What is a Staffing Agency? A staffing agency is an entity that has employees that can be hired out for temporary or long term work. A staffing agency is also referred to as an employment agency. It
As social media and search engines become more intelligent and prevalent, companies are battling the image that others outside the organization see as well as what employees feel. Entrepreneur Magazine even said that, “Company culture is more important than ever. It’s not that company culture was ever unimportant, but it’s quickly proving to be a
As we transition into Quarter 3 of 2017, companies are already planning for what 2018 is going to look like. Over the past year, we have seen a lot of change in the business landscape. Amazon acquired Whole Foods and dramatically sliced prices. Apple released not just one, but two iPhones in the past month.
Larry is operating a lemonade stand, and he thinks that his lemonade is the most valuable drink available. Because he interprets his lemonade as highly valuable, he decides to charge $85 for a glass of lemonade. Larry wonders why no one buys his lemonade. Although he may seem highly profitable when you work out his
How businesses can prepare for natural disasters in the future and how to best react to them is something financial leaders and business leaders often neglect to address until after the fact. Hurricane Harvey made landfall almost two weeks ago on the Gulf Coast of Texas and Louisiana, impacting some 50 counties. It dumped an
If you’re an entrepreneur, you’ll find that when you start your business you must decide on a structure – centralization versus decentralization. If your business expands, how will you control it? Will you have an office? Is it required that your team works at the office in order to drive value? As a business owner
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