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Inside Internal Controls

News and discussion on implementing risk management

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innovation

Business incubators: solutions for various types of fledgling entities

Business incubators are often on the radars of new businesses with no prior or current affiliation with any other business ventures. But despite its potential for broader applications, the incubator concept is often overlooked by fledgling subsidiaries or associated businesses of well-established entities.

 

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Accountants call for national entrepreneurship strategy

Canadians are pretty good at creating businesses that last, according to a new study by the Chartered General Accountants’ Association of Canada. Around 85 percent of new Canadian businesses survive for a year, 62 percent make it at least three years and 51 percent are still going after five years. The Business Development Bank of Canada puts this last number above 66 percent.

 

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A broader view of workplace diversity

Workplace diversity efforts often focus on employees’ gender, race and ability. The Canadian Institute of Chartered Accountants wants to broaden employers’ horizons and help them see the larger picture of diversity. “The concept of diversity encompasses factors including age, culture, personality, skill, training, educational background and life experience. The influence of a variety of perspectives and viewpoints can contribute to flexibility and creativity within organizations, which can help them thrive in a complex and competitive global economy.”

Is she suggesting organizations hire unskilled and inexperienced workers with poor personalities? Probably not.

 

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Social responsibility, social media – can’t I just run my business how I used to? (Part 1)

Do companies really need to implement and integrate social responsibility and social media strategies in order to succeed in today’s business world? These ideas didn’t even exist until relatively recently, and most businesses appeared to run smoothly before. But in the last couple of years, rarely a day has gone by without some mention in the news of companies taking on the role of social or environmental steward or engaging their customers and creating communities on the Internet. With all the talk, it seems businesses that don’t incorporate these strategies will look like obsolete outcasts, soon to disappear from the market.

 

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