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The International Standard Banking Practice for the Examination of Documents under Documentary Credits (ISBP 821) reflects the existing practice. It has evolved into a necessary companion to the UCP for determining compliance of documents with the terms of documentary credits. It is important to note that the ISBP does not amend the UCP 600. Instead, […]
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The phrase, “teamwork makes the dream work,” first coined by John C. Maxwell in his book of the same name in 2002, may now seem outdated. But it remains just as relevant in today’s workplace as it was twenty-one years ago. Most leaders recognize that their Saccos are deeply dependent on teams to accelerate innovation, […]
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McKinsey Global Institute director and senior partner Chris Bradley, a coauthor of Strategy Beyond the Hockey Stick, observed that “it’s a mistake to think that on your team you have the smartest people in the room. They aren’t there. They’re invariably somewhere else.” In an ever-changing world where conditions can evolve unpredictably, crowdsourcing invites the […]
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Even the most inscrutable problems have solutions— or better outcomes than have been reached so far. Here’s how the best problem solvers crack the code. Great problem solvers are made, not born. That’s what we’ve found after decades of problem solving with leaders across business, nonprofit, and policy sectors. These leaders learn to adopt […]
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There is much discussion and debate about how Internal Audit and Enterprise Risk Management (ERM) should be connected. Some say ERM can be embedded within the internal audit group but is this correct? Internal audit standards say that internal auditors should be objective and not unduly influenced. In other words, independent. We have to ask […]
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A SWOT analysis is a strategic evaluation technique designed to put a company’s market position into perspective based on its strengths and weaknesses. The SWOT acronym stands for Strengths, Weaknesses, Opportunities, and Threats. This analysis provides insight into the health of a company. They are used to evaluate various topics. For marketing purposes, a SWOT […]
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Your company culture can either be your greatest strength or your most damaging weakness. We weigh in on How to Successfully Manage Culture Change in the Workplace, so you’ll be well on your way to creating a culture geared for success. The most common reasons companies need to make a culture change The warning signs that a company’s culture is broken (including red flags!) […]
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Financial Literacy for Saccos continues. This week we will be taking a look at the basics of financial statements. What their function is, what they can tell you about your organization, and how to read them. At their most basic understanding, financial statements are the reports that provide important financial accounting information about your Sacco […]
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The high and rising cost of living is upon us and now is the time to help your members (and future members) really think about their finances. Based on a study we have done, nearly 80% of Kenyan workers live paycheck to paycheck, and 40% of Kenyans are not able to cover a Kshs 50,000/- […]
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Your company keeps experiencing negative events like vendor(s) not keeping their commitments, product changes that weren’t received well, or people leaving the company in droves because they feel like their job has no meaning or they are not valued. Management doesn’t understand why these events keep happening much less how to address them; they just understand the […]
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