Is Your Organization Facing an Innovation Crisis? Low Innovation Scores Predict Bankruptcy in Just 2 to 3 Years What if the key to a company’s survival and success could be measured as precisely as its financial performance? For Professor Grant Burgess, a bacteriologist turned innovation expert, this question became the driving force behind a groundbreaking discovery. Through decades of experience in pure research and biotechnology, trying to understand how best to commercialise his ideas, he uncovered a startling reality: innovation isn’t just a buzzword it’s a measurable, quantifiable force that can determine whether a business thrives or fails. His journey, which began with studying the intricate workings of bacteria, led him to develop a revolutionary method to measure innovation. The…
The strategic value of accounting in business Accounting is often perceived as a back-office necessity— primarily to manage cash flow and for regulatory purposes. However, this limited view can be costly. Misconceptions about the role of accounting can lead business leaders to neglect financial oversight, increasing their risk of cash flow and compliance issues. Beyond simply transactional record-keeping, accounting can provide valuable insights to highlight operational inefficiencies, drive business growth and stabilise long-term financials. This article examines common misconceptions about accounting, challenging the belief that it is only relevant for large corporations or that profitable businesses can afford to deprioritise financial oversight. By tackling these five prevalent myths, we highlight how accounting is essential, regardless of the size, stage of…
woman shopping online with VR headset and colorful shopping bags are all around Imagine this: customers effortlessly order products through their smartphones, then stroll into a store to collect their items. They employ Augmented Reality (AR) to virtually test products, engage in witty banter with chatbots before human assistance steps in. Are they in a digital daydream or a physical escapade? The truth is, they're immersed in both, surfing the vibrant waves of the 'phygital' experience – an emerging trend that is redefining customer engagement post-pandemic world. Coined by Chris Weil in 2007, the Chairman-CEO of Momentum Worldwide, ‘phygital’ highlights the inextricable links between our tangible surroundings and the virtual spaces we navigate. But how did this fusion of "physical"…
A Brief Overview of Accounting’s Evolution Accounting has always been central to business management, traditionally focused on recording and reporting financial transactions, providing essential compliance and monitoring capabilities. For much of its history, it was seen as a back-office function, holding valuable data without directly influencing collaboration or decision-making across the organisation. The first major transformation came with the rise of information technology (IT). Technological advancements and automation kicked off accounting's evolution, steering it from reliance on paper records toward becoming a robust data-driven discipline. These advancements improved accuracy, streamlined information, and reduced repetitive tasks, allowing finance professionals to shift their focus from routine processing to deeper analysis. This technological shift marked the beginning of accounting’s evolution from a passive…
TBP PHOTO: iStock Photo Now, who pops into your head when we utter the word 'entrepreneur'? Does your mind race through names like Steve Jobs, Jeff Bezos, Elon Musk, or Mark Zuckerberg? These are the experts who didn't just pique the world's interest, they reinvented the whole playbook of business. Indeed, they've reshaped entire industries and won us over with their ingenuity, giving us a fresh perspective on how we live, work, and connect. Let's ponder on this: How would you define an entrepreneur? Venturing into the thrilling world of business, entrepreneurs are often a sight to behold. Some believe this intriguing breed is born, crafted with an inherent drive that continues to burn brightly. Yet, there’s a different school of…
