On Friday 29 March 2019, the UK will formally leave the European Union (EU). Although a transition period should apply from that date until Thursday 31 December 2020, it is not yet clear what the UK’s relationship with the EU will look like after that, especially as a trade deal between the two has not been agreed. The uncertainty is causing concern for UK corporates who are forecasting hypothetical scenarios. In fact, it is possible that there will be no transition period at all, if a withdrawal agreement has not been signed by the date of the UK’s departure.
During my years as a CFO, I would share this formula with my team: NP + E ≠ P. Spelled out, it means non-performance plus an excuse do not equal performance. I let my team know it fell under E to discuss their reasons for failure to deliver on commitments.
Natural disasters are unpredictable and costly. When hurricanes strike, the damage can be devastating, especially if you are not prepared.
If there is a business lesson to be learned from natural disasters, it’s the importance of proper and ongoing business continuity planning (BCP), a strategy for keeping an organization operating during an unplanned event, such as an earthquake, hurricane or something else. According to a 2017 survey by CFO Research, just 33 percent of senior financial executives felt their organizations were prepared to recover from a natural disaster.