Business impact analysis

The business impact analysis

 

A BIA or business impact analysis emphasizes the most important processes of your company that could threaten your normal business operations in case of a deficit or outage. These processes allow you to evaluate the consequences of a crisis more effectively and devise strategies...

 

Cost of sales method

The cost of sales procedure in the context of profits and losses

 

The profit and loss account (P&L) is also called an income statement. All general ledger accounts are summed up with expenses subtracted from the income to leave a profit or loss amount for the period, which is usually one financial year. Daily operating expenses are summarized...

 

Agile Working

Agile working: mastering the challenges of the digital world

 

“Agile working” is currently one of the biggest trends in the corporate world. It’s seen as the best way to master the challenges of digitalization. How does the agile approach work? What opportunities and risks does it involve? And what role will this hot topic play in the...

 

Supply and demand

Supply and demand – how they control the market

 

Supply and demand determine pricing in a free market. Demand has an influence on supply and vice versa. With no demand, any supply is redundant, and with no supply, demand is ineffective. When they are in equilibrium, prices remain stable and goods are affordable. But how exactly...

 

Six Sigma Method

The Six Sigma Method: How it Works and What it Does

Six Sigma is one of the most commonly used process optimization and quality management methods in companies. This method sets itself apart through its foundation in math and its clear focus on being able to measure change. In the following article, we show you how the Six Sigma method works, what benefits you can gain from it, and how to put it into practice.

ISO 9001

ISO 9001: Certificate for Quality Assurance

Quality checks are some of the most important objectives for every management team. However, measures that are introduced for this purpose do not always contribute to achieving this objective. Anyone who adheres to ISO 9001, however, will optimize their quality management system according to international standards. You can make a good impression on the international stage with ISO 9001...

What is financial analysis?

Financial analysis: What is it?

A financial analysis provides entrepreneurs with information on the current economic situation of their business. But the report is full of figures – you can lose track of things quite quickly. So what is a financial analysis? And how do you get to grips with it? What is the report actually good for? And can you also create one yourself?

What is a liquidator?

The liquidator: competencies and responsibilities

When the end is in sight, he moves out of the shadows: the liquidator! But don’t get too excited –there’s no superhero hiding behind this ominous title. So what is a liquidator? The short answer is: A liquidator is a competent professional who takes care of the liquidation and proper termination of a corporation or partnership.

Governance, Risk & Compliance (GRC)

What exactly is Governance, Risk & Compliance (GRC)?

The terms “Governance, Risk and Compliance”, known as GRC for short, comprises the three areas that are responsible for internationally operating (often listed) large companies functioning well. GRC includes management and internal cooperation, assessing internal and external risks, and ensuring that all business processes and laws and regulations are in sync.

Internal Control System

ICS: Internal Control Systems Explained

If you want to minimize the risks associated with organizational errors, damaging actions by senior employees or even just economic crime in your company, you do not want to leave anything to chance. An ICS - short for Internal Control System - establishes guidelines that enable the monitoring of operational processes. What does an ICS look like?

Constructive Criticism

How Companies Benefit from Constructive Criticism

Constructive criticism is important, and in the majority of companies, the concept is well-known on paper. Yet too few companies manage to use their errors to drive success. We provide an overview of what constructive criticism means and how it can be achieved in the workplace.

Corporate Governance

Corporate Governance: The Business Management Principles

Corporate Governance is a core topic of business management and has long since stopped being only relevant for market-listed corporations. What principles and objectives are behind the catchword? What legal requirements apply? And what relationship does governance have to compliance? We answer the most important questions regarding this topic.

What is call for tenders?

Call for tenders – How to search for procurement bids

When a US government authority or department procures services or goods, it is required to allow private contractors to bid on projects. This allows any interested company to submit an application to secure a project contract. The legislation ensures that there are no unfair competitive advantages and that state taxes for government projects are used economically. But what types of tenders exist...

Statement of work

Statement of work – the basis for an offer

When a company is interested in bidding for a public contract, it creates an invitation to tender based on a statement of work. This includes detailed information on the project’s goal and expected services. To make sure that the awarding entity receives suitable offers, a few points should be taken into account when creating a statement of work.

Grow Your Business

A solid business growth strategy is paramount for any business owner. This category focuses on all the aspects that follow the establishment of a company; from business strategy and growth, to recruitment, bookkeeping, and taxes.


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