As we head into 2021, consumer facing organisations in New Zealand may be lagging behind a dramatic shift in consumer behaviour.
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It’s been one year since the Government introduced its new procurement rules – swinging its $42 billion wallet in the direction of sustainable, socially responsible spending. Is that massive spending power starting to pull our economy in the direction the Government wants?
Grant Thornton New Zealand has recently conducted research into how much progress is being made within agencies, to get a sense of how successfully the new rules are being implemented.
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Here, we remind you of your obligations for the upcoming Holiday Season.
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A very successful marketing and sales strategy, often overlooked, is the very simple phrase “Thank You” that can be added after a face-to-face visit with a prospect or customer, to the bottom of an email, to the end of a letter, to a text message, or to a proposal.
Read MoreIf your business in struggling to make ends meet, one serious option to consider is increasing your prices.
Read MoreIn the current challenging situation, even good New Zealand companies are unable to pay their suppliers on time, and some suppliers have the wrong attitude towards debt collection and are losing good customers as a consequence.
Read MoreSteady, reliable cash flow is crucial for the survival of any small business – so taking steps to ensure your customers pay promptly should be a key priority.
Read MoreThis article discusses the differences between an Agreement and a Contract, Contract and a Deed, Oral and Written Contracts and several more useful tips.
Read MoreMeetings have become an unavoidable aspect of a manager's role. Fortunately, it is possible to eliminate unnecessary meetings and to make the remaining ones more effective. An important ingredient is planning and preparation, as the following points reveal…
Read MoreRetention and engagement are always top priority for many businesses. However, the challenge of keeping employees engaged comes down to a number of factors. These include the work itself, the management and leadership environment and of course, the continuous development opportunities available.
Read MoreAll business people, will at some point, be required to negotiate a contract. Whether it is simply purchasing stock from suppliers or a more complex business deal such as buying a business or shares in a company, it can be highly advantageous to know some of the fundamental principles of contract negotiation.
Read MoreEach year we update our checklist for year-end planning, so as to ensure that you do not miss out on tax deductions that are available to you.
Read MoreThere is no doubt that organisational change can be difficult. Typical responses can be fear, anger and resistance, but rather than seeing change as something to be tolerated only when necessary, we have shifted our thinking to understand that change will now be constant. We recognise that innovative organisations embrace change as a tool to benefit all stakeholders and therefore this mindset of welcoming, rather than fearing change is often a competitive advantage.
Read MoreIt’s a classic Catch 22 for businesses, particularly those offering services. You charge for your time, IP, ideas and advice but you have to give some of it away in order to get the sale.
Read MoreNow is the time to pause and reflect on the year that has been and consider what you would like to achieve in 2019.
Read MoreEarlier this year, it was revealed that thousands of government employees had been receiving less holiday pay than their entitlement. So, you guessed it, a task force was set up to look at simplifying the system with change anticipated next year. In the meantime, we remind you, as always, about your obligations for the Holiday Season. Refer also to the 2018 tax change on Page 17 under From the IRD in Brief.
Read MoreThe Companies Act offers a cost effective option to enforce payment.
Your business’s cash flow can be adversely affected by your debtors not paying your invoices on time. It can often feel like you are acting as a lender to your debtors, by providing them goods and services and they then expect to be able to pay over time or not at all, in breach of your terms of trade.
Read MoreWorking capital is the term used to describe your short- term or current assets and current liabilities. Current assets typically include cash, accounts receivable, inventory and short-term investments, while current liabilities include accounts payable and short- term loans.
Read MoreUnfortunately, debt recovery is part of running a business. Too often businesses take stock of their debtor position when it might already be too late, for example when a debtor company has receivers or liquidators appointed. It is good practice to keep on top of your debtors and to undertake debt recovery health checks for your business from time to time.
Read MoreEffective KPI reporting is built on transparency, accountability, and comprehensive communication. It can help businesses to reduce costs, identify new opportunities, and make better decisions. It provides an opportunity for staff at all levels of a business to reflect on their performance and, if required, take actions that improve the overall performance of the business.
This short article will show you how to take control of the KPI reporting process.
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