Reach for the sky
Article Abstract:
Many business leaders believe that corporate helicopters, jets and yachts make good business sense. Some argue that flying executives where they need to go reduces their travel time, thus allowing them to better manage their companies. Aside from speed and efficiency, others claim that corporate jets are a good investment since their value can appreciate. Another argument for corporate jet ownership is the privacy it gives executives. Traveling business leaders can work without fearing for the security of sensitive company information. Companies that own or charter yachts contend that this luxury transportation helps cultivate client relationships as it discourages the usual corporate formalities and promotes camaraderie. Furthermore, it eliminates the need for hotels for accommodation and entertainment.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1997
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Knickers in a twist?
Article Abstract:
Marks and Spencer (M&S), the 115-year-old UK-based clothing retailer, has suffered a drastic decline in its corporate profits that has been attributed to top management complacency. M&S reported pre-tax earnings before exceptional items of 635 million pounds sterling for FY ending Mar 31, 1999, a huge drop from the 1.1 billion pounds it posted the previous year. The company's CEO, Peter Salsbury, has attributed the poor performance to the group's inability to react appropriately to a changing competitive market and a lowering of the quality standards due to overseas sourcing. Industry observers blames M&S' past successes for its present problems, a condition that they said has resulted in complacency, arrogance and introspection.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1999
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Genuine all-rounder required: what does a CEO look for in a finance director?
Article Abstract:
UK chief executive officers are looking for finance directors (FDs) that possess skills other than expertise with numbers. One of these is commercial awareness. This means having a thorough understanding of a company's market and its competitors. Another requirement of CEOs is a knowledge of technical issues. FDs must be abreast of the latest trends such as new financial instruments and their impact on business. FDs must also possess excellent communications skills to be able to deal with individuals in and out of the organization. They should be able to work independently and possess physical stamina to cope with long working hours and stress. CEOs also select FDs whom they believe they can work well with.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1998
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