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planning Archives - Eric S. Degen, CPA Titan Accountancy

July 22, 2024

Innovation is a State of Mind

You probably know the myth of innovation as a sudden flash of insight that comes from nowhere. We read about that “aha” moment, or that light bulb turning on in the mind of some inventor or innovator, and this is true to an extent. Einstein really did get flashes of insight while shaving in the

December 20, 2023

2024: Shifting Trends, Technologies and Regulatory Changes

As we look towards 2024, small businesses are poised to navigate a landscape shaped by various trends, technologies, and regulatory changes: Artificial Intelligence (AI): AI continues to be a significant trend, with its integration in various business operations such as marketing and customer service. Small businesses using AI have reported more successful outcomes. The focus

October 23, 2023

15 Tips for Small Businesses to Prevent Fraud

Fraud can be a devastating blow for any business, but small businesses are particularly vulnerable. Limited resources and lack of specialized staff make it challenging to implement extensive anti-fraud measures. However, there are practical steps small business owners can take to protect their assets, reputation, and future. Here are 15 tips to help you prevent

June 23, 2023

Calculating Business Risks

In the intricate landscape of business, risk is an inherent element that could potentially derail the pathway to success. Understanding and calculating business risk is a critical aspect of strategic decision-making and can often differentiate a thriving company from a failing one. At its core, business risk refers to the possibility of inadequate profits, or

April 25, 2023

Critical Planning for Success

In this rough inflationary environment, one thing is for sure: sooner or later many businesses simply won’t be able to hold off any longer on making critical business decisions while waiting for a strong uptick in the economy.   Furthermore, customers may sooner or later say “I’m tired of this,” or “I can’t wait anymore,” or

March 22, 2023

How Small Companies Should Prepare for a Crisis

Small businesses face a unique set of challenges when it comes to dealing with a crisis. It’s important for owners to be proactive and take preparatory steps. The following tips will help small businesses prepare for and manage a crisis. Develop a crisis management plan: Small businesses should develop a crisis management plan that outlines

January 25, 2023

Strategic Drivers of Business

Strategic drivers of business are forces, both internal and external, that shape an organization’s business strategy.  Strategies that fail to adapt to forces such as technological change, competition and regulations are recipes for disaster. By no means comprehensive, below we discuss eight such drivers, to set you on the right path: Organizational Effectiveness: Does the company

August 25, 2022

Strategic Planning vs. Long-Range Planning: What’s The Difference?

Although many use these terms interchangeably, strategic planning and long-range planning differ in their emphasis on the “assumed” environment. Long-range planning is generally considered to mean the development of a plan for accomplishing a goal or set of goals over a period of several years, with the assumption that current knowledge about future conditions is