Archives

The best suggestions to manage cash pressures caused by Corona virus disruptions

Millions of people worldwide practice social distancing to stop the overall spread of Corona virus. Many companies experience or anticipate important constraints on both cash and working capital in particular liquidity challenges. Well experienced business people are aware the ever-increasing requirements for the cash flow scrutiny in the days and months ahead. Finance departments have the responsibility to manage the cash pressures during a crisis.

Consider important things at first

Almost every company nowadays sees the low revenue and gets less cash flow along with other problems like the delayed receivable collection and requirements to step up payables to leading suppliers. These companies expect to become much more nimble for the purpose of managing the inventory in the supply chain with maximum uncertainty and demands on working capital. This is worthwhile to follow the best guidance from experts to manage the cash and liquidity position in the business during the high uncertainty times.

As a business owner or administrator, you have to test the overall incoming and outgoing cash flows as comprehensive as possible at first. You can spend enough time to be aware of worst case financial scenarios as well as downsides such as the impact of foreign exchange on the overall cash position. This is because you must act in the measured way. If you know about the status of the cash and liquidity runaway in your business today, then you can estimate what changes your business get during the next three to four months.

A proper assessment

Read More

Can Governments and Special Interest Groups Support EMNC Brand Building Effectively?

My answer is yes. A couple weeks ago I was teaching 40 young and promising executives in the TURQUALITY® program at my university in Istanbul. I have been teaching marketing strategy, brand building and global marketing within this program since its inception. I was so pleasantly surprised by the improved level and sophistication of marketing strategy and brand building knowledge in this group that I decided to share some insights on this program with you.

TURQUALITY® is a brand development program designed with the vision of “creating 10 global brands in 10 years,” very nicely fitting the focus of our book. It is mainly a support program aimed at creating global players out of Turkish company brands which have brand building potential. The brands go through a detailed application and screening process to qualify for the TURQUALITY® program. Selected brands/companies are provided with managerial, consulting and financial support on all links of the value chain, with an emphasis on marketing, branding, retailing and after-sales services. They also display the TURQUALITY® logo in their stores.

Recognizing that Turkish brands faced a negative country of origin perception in many of its export markets, especially in developed markets, the project was the brain child of State Minister Kürşad Tüzmen and was carried out by the Undersecretariat of Foreign Trade, Turkey Exporters Assembly and The General Secretariat of Istanbul Textile and Apparel Exporters Associations. As we explain in detail in our book, negative country of origin perceptions are major obstacles in brand building efforts …

Read More