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Surviving the dreaded "R&D" in business.(selected topic)
To many people in the business community, "R&D" stands for research and development. To many others, the dreaded "R&D" refers to restructuring and downsizing. In today's global market, many companies that merge or buy out smaller businesses are required to make certain profit margins or need to cut costs in order to stay afloat. After reducing as much as possible from operating expenses, the next phase of "trimming the fat" often means reducing the workforce.
No one can be 100% sure that their jobs are safe. Employees, managers and executives are all fair game when companies scale back. One reason for terminating employment can occur when companies are bought and sold. Often the end result is duplication within departments: two credit managers, two controllers, multiple accounting staff, etc. In most cases the company buying the other business retains its employees and the company being bought out or merging with that other operation takes the hit in the staffing area.
In the event that you or someone you know has been "let go" (with or without a package), there are some emotional steps to deal with that will occur in one form or another. Once you have passed through these various phases, you can move forward, get back on your feet and gain meaningful employment again. There are some factors to consider before making a life-altering change. Losing your job is almost like going through a divorce or a death in the family. When they call you into the"room" with the"We've had to make a hard decision today and this isn't going to be easy for us" line, hold your breath and keep your cool. Don't get angry and say anything to compromise your integrity. You may need references from these individuals and you want to be portrayed in a positive light. Oftentimes an HR representative will sit with you and give you some options. They may provide assistance in the form of out-placement counseling. Make sure you take advantage of any help you are being offered.
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At one point or another you will experience some or all of these emotions:
* Shock/disbelief What's going on? Why am I here? Panic may flash across your mind (thoughts race to how you're going to pay bills, support your family/lifestyle).
* Denial. This can't be happening to me.
- The secret power of networking at Credit Congress: play the host.(Selected...
- Magazine article from: Business Credit Ensman, Richard G., Jr. April 1, 2005 700+ words
...carry the tools of their trade ... these might include business cards, miniature brochures, photos, tiny samples, or other...An important hint: when passing paper products, such as business cards, remember to write a brief note on the back; notes create...
- Securing your workplace.(selected topic)
- Magazine article from: Business Credit Hull, Terris September 1, 2007 700+ words
How can you better secure your workplace? The majority of corporate theft is internal. How does this happen? This can occur with negligent hiring processes, as well as negligent internal investigations. A lack of communication or a breakdown of internal security procedure or equipment could also
- Domestication of judgments.(selected topic)
- Magazine article from: Business Credit Knowles, Kavita May 1, 2008 700+ words
You went to court and got a judgment against your debtor. That should be it, right? If the debtor does not voluntarily pay the judgment, you will still have to execute on the judgment through a garnishment, levy or other attachment of the debtor's assets. What if your debtor is in another state or
- Sustainable business practices.(SELECTED TOPIC)(Website list)
- Magazine article from: Business Credit June 1, 2006 700+ words
As global awareness and concern about the long-term health of the worlds environment increases, some stakeholders and business leaders have begun to call on the business community to play a major role in moving the global economy toward "sustainability." This concept arose from a 1987 report of the
- Electronic bankruptcy noticing.(Selected Topic)
- Magazine article from: Business Credit Sumner, Lisa P. October 1, 2003 700+ words
Many times creditors have asked us whether they could provide some central computer with their address, so that all bankruptcy notices would immediately go to that address. The day has arrived in part. Many creditors struggle to quickly route such notices to the appropriate individual or
- UCP500. (Business Credit Selected Topic).
- Magazine article from: Business Credit Shaw, Martin November 1, 2001 700+ words
This is the first in a series of commentaries which will examine UCP500 systematically and in detail, concentrating on individual Articles and sub-Articles as they apply both to importers and exporters. The emphasis will be on their practical application and relevance to ordinary regular trade
- Federal marketplace.(SELECTED TOPIC)
- Magazine article from: Business Credit Carroll, Deb September 1, 2006 700+ words
The federal government is a $360 billion customer looking for procurements in both supplies and services of every type. Most businesses meet the requirements to be competitive as a government contractor. It is the lack of knowledge that stops most companies from entering the federal marketplace.
- Evaluating collection software.(SELECTED TOPIC)
- Magazine article from: Business Credit Ellwood, John May 1, 2006 700+ words
Companies often reach the point where their accounts receivables department simply needs better software to help track and collect outstanding debts. This can occur due to variety of reasons: the amount of outstanding debts has increased, current billing software does not cater for credit