Challenging Times for Retail Franchises in Australia
A series of recent high profile cases of retail franchises in Australia behaving badly has increased focus on the franchising business model itself. Having said this, we know there are many retail franchises that are thriving without poor relationships between the franchisor and franchisees. These franchises have a committed franchisor, a proven and evolving brand, and franchisees that are well supported. The franchising industry in Australia is currently facing a range of challenges, including economic volatility, heightened international competition, and legislative challenges. In today’s...
Read MoreWhat has gone wrong with SME banking relationships in Australia?
The Banking Royal Commission has recently started taking submissions from Australian SME business owners and the tales of horror are very real for many families caught up in the grip of our major banks acting badly. The way our family business owners are treated by the major banks is nothing short of a disgrace. We have been working with a number of clients caught up with submissions to the Banking Royal Commission and have a detailed understanding of just what is going wrong with banking relationships in Australia. SME Responsibility Cash Forecasts We will start with the SME business owners...
Read MoreWhy Advanced Manufacturing Matters To Australia!
Advanced manufacturing may put an end to the decline of the Australian manufacturing sector. For over a decade, we have seen an exodus of manufacturers and Australia has lost a vital part of our economy as a result. This is changing right now as onshore advanced manufacturing is alive and kicking, thanks to “Industry 4.0”. Industry 4.0 is the cyber connected world of people, machines, robotics, data and artificial intelligence, all coming together in ways that have not been possible before. Whilst large scale heavy industries may still depend on offshoring, new or niche...
Read MoreLessons for CEOs from air crashes-errors of judgement
Errors of judgement can cause air crashes and research about the social relations in the cockpit could help CEOs. One pilot is designated as the “captain” and is responsible for the flight, even though all the first officers in the cockpit are capable of flying the plane. Captains often have greater experience, higher remuneration and allocate the duties to the other pilot(s). This creates a cockpit hierarchy which can lead to problems. Errors of judgement that can occur due bias: The captain may hold onto their own views and beliefs in a situation, even when another first officer...
Read MoreProcess Automation Traps To Avoid-5 tips for CEOs
Automation is a hot topic. Artificial Intelligence (AI) promises to automate the repetitive tasks in service industries, driver-less cars will move us around, whilst aerial drones deliver our packages. We could even have robots walking around doing our jobs -well, some of them. CEO’s may be thinking that, their profits will climb as automation will reduce their overheads. Consider these practical 5 tips that I learnt through actually running businesses with automated processes. Tip #1- automation may not be so flexible. Humans are very dexterous and flexible in movement. We can perform a...
Read MoreInnovation-please stop telling us about Uber and Airbnb!
Innovation is a much-used word in the business community. Unfortunately, it is often associated with digital or disruption examples, such as Uber or Airbnb. Many CEO’s simply don’t relate their own situation to these examples and innovation therefore appears abstract. Innovation is not abstract, nor is it about a particular industry or business size. It is simply about using creativity, invention and change to improve your business. One example of innovation is developing new products or services. These can increase profitability, market share or open up new revenue streams. Taking a...
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