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Business schools dig deeper into diversity.

Nebojsa Vujinovic

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Simona Catana turned to executive education to increase her confidence after she felt that she was subject to subtle discrimination in her job due to her gender. She remembers being the sole female in a conference and being asked to write notes.

A freelance consultant based in Paris, She previously worked as a salesperson for IP security services in London. “When you’re a woman in a male-dominated industry, it can feel a bit overwhelming,” Catana says. Catana is Romanian.

In December 2020, she was enrolled in the Women’s Leadership Excellence program at ESMT Berlin. Students learn bias, build the leadership skills of others and create an inclusive professional network. Catana was able to leave feeling confident, according to her.

“Having others with whom to share a relationship . . . Reflecting on their experiences and the best way to deal with these difficulties, you realize that you’re not alone, which is incredibly powerful,” she says. “You need to be self-assured to speak up, have initiatives, and come up with new ideas because otherwise, you will just sit quietly and wait for things to happen to you.”

Inclusion, diversity, and equity were already top priorities for executives. However, movements like #MeToo, which protests against sexual harassment, as well as the global Black Lives Matter protests that follow George Floyd’s murder in George Floyd in 2020, have heightened attention on the issues.

The shift in attitudes is now increasing demand for education to aid senior managers in facing the issues and opportunities associated with providing diversity, equity, and inclusion at work and managing effectively across a variety of dimensions, including sexuality, gender, or ethnicity. Research from the academic community that links diversification with higher profits has also sparked interest in this field.

Businesses have responded by introducing new courses designed to help bring about structural and cultural change within the workplace. In the year 2000, King’s Business School announced the development of the program Building Gender-Inclusive Workplaces, developed in collaboration with The Global Institute for Women’s Leadership at King’s College London.

This comes as shifts in workplace practices triggered through Covid have brought inclusion to the forefront. “Flexibility has been seen as a good thing, but hybrid work can be a nightmare for women,” Says Madeleine Wyatt, reader in diversity and inclusion at King’s Business School, citing the increase in work and home obligations for caregivers and parents.

The King’s program teaches participants — females and males are taught how to remove the systemic barriers to gender equality like informal processes and political structures. “There are issues around networking and women, and people of color can access powerful mentors and sponsorship, two big levers you can pull,” Wyatt explains. Wyatt.

Executives are also working to stop the exodus of employees, dubbed”the “Great Resignation,” driven partly by the increasing importance given to corporate culture.

“There’s been a noticeable uptick of interest from organizations — after the murder of George Floyd and others — in addressing past social injustices by bringing in diverse talent,” says Gary Fraser, associate dean for diversity and inclusion at the New York University’s Stern School of Business. “But they’re considering the metrics and not the actual outcomes when someone is hired. This is the reason we’re having issues with retention.”

Within Fraser’s Leadership for the 21st Century course, Fraser teaches a module that focuses on developing intercultural competence and the ability to work effectively with individuals from diverse cultures. Fraser declares that the most important thing is to understand by having a dialogue about the different dimensions of differences to relate and understand them personally.

“The reason that organizations aren’t able to attain the number of numbers they should regarding women and people of color is that they try to conform to a society which isn’t the person they are. They wear the same uniform every day to work but aren’t in a position to express their true persona.”

Shaheena Janjuha Jivraj, associate professor of business leadership, diversity, and entrepreneurial management at the HEC Paris’s Qatar campus, agrees. “There is this assumption that performance elevation will occur if you build diverse teams,” she claims. “But it’s not so simple. Gains won’t be realized until you begin to fundamentally alter the leadership and culture.”

HEC began its Moving Beyond Equality program in Paris this year. The program aims to foster an intentional approach to curiosity to create an atmosphere of psychological trust and security that allows for risk-taking and creativity can thrive. “This is incredibly difficult for leaders as they shift from being the superhero who knows everything to encourage more conversations and asking questions,” says Janjuha-Jivraj.

Innovation is the goal: Boston Consulting Group research finds that companies with above-average diversification in their management report the revenue from innovation 19 percentage points higher than those with more homogeneous leadership.

Yet, Roberto Fernandez, professor of organizational studies at the MIT Sloan School of Management, is skeptical of the business case for diversity, noting that correlation is not the same as causality. “If that is driving you, you do so with some peril,” he warns. “If you stray too far from the moral case, you risk losing your social license to operate.”

Fernandez co-invents The leading a Diverse Workforce program at Sloan to foster inclusive, diverse, and productive teams and organizations. The main focus is challenging deeply held beliefs. For instance, many participants believe the gender disparities in leadership result from promotions, when in reality, they’re due to exit and hiring patterns, according to Fernandez.

But bringing up these sensitive topics in the classroom could cause tensions among the students. Like the workplace, managing teams with conflicting views requires a cunning hand. “Managed well, diversity is an asset but managed poorly. It won’t add value.”

Hi, my name is Nebojša, and I've been involved in digital marketing for over 15 years. I've written for various websites, covering a wide range of topics. I'm particularly interested in subjects like technology, gaming, app development, and I also have a passion for automobiles. Additionally, I work on SEO optimization. In my free time, I enjoy reading, walking, traveling and spending time with my wife and daughter.

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Post-Purchase Customer Experience – Why It’s the Key to Retention and Loyalty

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In today’s fiercely competitive marketplace, securing a sale is just the beginning of the customer journey, not the end. Post-purchase customer experience has emerged as a pivotal aspect of not only retaining clients but also building unwavering loyalty.

Once the transaction is completed, a new chapter unfolds—one that can either transform a one-time buyer into a lifelong advocate or reduce them to just another statistic in the sea of disengaged consumers. Every interaction a customer has after the purchase, from personalized follow-ups to seamless customer support, plays a crucial role in shaping their perception of your brand.

As the dust settles on their initial decision to buy, it’s the ongoing experiences that will ultimately determine whether they return for more or drift away into the clutches of competitors. Understanding and optimizing this journey is not merely an option anymore; it’s a necessity for businesses striving to cultivate lasting relationships in a world where choices abound.

The Path to Loyalty: How Post-Purchase Experience Shapes Customer Relationships

Source: reverselogix.com

The journey to fostering customer loyalty begins long after the initial purchase is made; it is intricately woven into the fabric of the post-purchase experience. Picture this: a customer who eagerly anticipates their delivery, receiving a thoughtful follow-up email that not only confirms shipment but also includes tips for maximizing the product’s use—this simple gesture cultivates a sense of connection.

Afterward, a timely survey asking for feedback demonstrates that their voice matters, transforming a transactional relationship into a dialogue. Each element, from personalized recommendations based on their purchase history to dedicated customer support, deepens trust and enhances the emotional bond.

In this ever-competitive landscape, understanding that retention hinges not on the initial sale, but on the entire journey afterwards, can unlock the secret to creating lifelong advocates for your brand.

Beyond the Sale: The Critical Role of Aftercare in Customer Retention

Source: globalresponse.com

In the whirlwind of commerce, where transactions often take center stage, one critical aspect frequently slips through the cracks: aftercare. This pivotal phase begins the moment a customer clicks “confirm” on their order, extending well beyond the point of sale.

It’s not merely a follow-up; it’s a commitment to nurturing the relationship, a chance to reinforce the connection established during their buying journey. Think of aftercare as the secret sauce of customer loyalty—personalized messages, helpful tips, and timely support can transform an ordinary experience into an extraordinary one.

Customers who feel valued and supported are more likely to return, not just for the products they cherish but for the community and service that accompany them. In a landscape flooded with choices, businesses that prioritize aftercare don’t just sell products; they cultivate loyalty, turning one-time buyers into lifelong advocates.

Conclusion

Source: youngurbanproject.com

In conclusion, the post-purchase customer experience is a critical pillar in fostering retention and loyalty among consumers. By understanding and enhancing this stage of the customer journey, businesses can build lasting relationships that go beyond a single transaction.

Effective post-purchase marketing not only reinforces the value of the initial purchase but also encourages repeat business through personalized communication and ongoing engagement. As companies strive to differentiate themselves in a competitive landscape, prioritizing the post-purchase experience will prove essential in transforming customers into brand advocates, ultimately driving sustainable growth and long-term success.

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From Trader to Business Owner – How to Build Your Own Trading Firm

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Transitioning from a trader to a business owner is a thrilling journey, a leap from the exhilarating chaos of the markets into the strategic realm of entrepreneurship. Many traders, fueled by their passion for the financial world, dream of establishing their trading firm—a bold move that promises both independence and potential prosperity.

Yet, this path is strewn with challenges, requiring not just deep market knowledge but also formidable skills in management, finance, and strategic planning. How do you go from analyzing charts and executing trades to overseeing a team of traders and making critical business decisions? In this article, we’ll explore the multifaceted process of building your trading firm, offering insights on everything from legal considerations to cultivating a strong company culture.

Prepare to navigate the nuances of this transition—where the fierce nature of trading meets the intricate art of business ownership. Your journey begins now.

Identifying Your Niche in the Trading Market

Source: udemy.com

Identifying your niche in the trading market is an essential first step on your journey from trader to business owner. Start by reflecting on what truly captivates you—whether it’s forex, stocks, options, or commodities—and the unique strategies you’ve developed through experience.

Tools like depth of market software can play a pivotal role during this process, offering detailed insights into market trends and liquidity levels, which can help you pinpoint areas of opportunity. Dive deep into market trends, analyzing which segments show potential for growth and profitability, while also considering the competition.

Don’t shy away from experimenting; this phase often involves trial and error, as you test different trading styles against varying market conditions. Additionally, leverage your existing knowledge to carve out a specialized area, perhaps focusing on a demographic or asset class that isn’t saturated.

Ultimately, the key lies in blending your passion with market demands, creating a distinctive offering that speaks to both your interests and the needs of prospective clients.

Creating a Business Plan for Your Trading Firm

Source: www.getwork.co.uk

Creating a business plan for your trading firm is not merely a formality; it’s the foundation upon which your entrepreneurial dreams will stand. Begin by defining your vision—what kind of trading strategies will you employ? Will you focus on equity markets, forex, or perhaps cryptocurrencies? This clarity will inform every aspect of your plan, from your target market to your operational framework. Next, conduct a thorough market analysis to identify your competitors and potential clients, ensuring your unique selling proposition shines brightly amidst the noise.

Financial projections are crucial; outline your startup costs, expected revenues, and break-even analysis to illustrate the viability of your venture. Don’t forget to address risk management—how will you safeguard your capital against market volatility? Each section of your plan should weave together, showcasing not only your ambitions but also a pragmatic approach to navigating the complexities of the trading landscape.

This document is your blueprint for success; invest the time to make it comprehensive and compelling.

Legal Considerations for Starting a Trading Firm

Source: luxalgo.com

Establishing a trading firm entails navigating a labyrinth of legal considerations, intricately woven into the fabric of financial regulations. Aspiring business owners must first determine the appropriate business structure—whether a sole proprietorship, partnership, or corporation—each carrying its legal ramifications and tax obligations.

Securing the necessary licenses and permits is paramount; depending on your trading strategies and the markets you operate in, you may need to register with regulatory bodies like the SEC or FINRA. Additionally, compliance with anti-money laundering laws and data protection regulations will shape operational protocols, safeguarding both your firm and clientele. As you forge ahead, consulting with legal professionals proficient in financial regulations is not just wise—it’s essential, ensuring that your firm not only thrives but does so within the bounds of the law, avoiding the perilous pitfalls that could threaten your entrepreneurial dreams.

Conclusion

In conclusion, transitioning from a trader to a business owner by establishing your trading firm is an exciting yet challenging journey that requires careful planning, strategic decision-making, and an adept understanding of market dynamics. By leveraging essential resources, including cutting-edge tools like depth-of-market software, you can enhance your trading strategies and gain valuable insights into market trends.

Building a successful trading firm involves not only honing your trading skills but also developing a solid business framework, fostering a collaborative environment, and staying agile in a rapidly evolving marketplace. With the right approach and commitment to continuous learning, the path from trader to business owner can lead to remarkable growth and fulfillment in the world of finance.

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How the Rise of AI and Automation is Impacting the Accounting Profession

Anita Kantar

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The adoption of advanced technologies is reshaping how businesses handle financial processes. Tools powered by artificial intelligence (AI) and automation are transforming traditional workflows, introducing both opportunities and challenges for professionals in finance.

Accountants must now adapt to thrive in a landscape dominated by innovation.

Key Points:

  • Automation reduces manual data entry, boosting accuracy.
  • AI enables predictive insights for better decision-making.
  • Technology frees up time for strategic tasks.
  • Skills in data analysis and AI tools are essential.
  • Ethical considerations are critical for implementing automation.

Automation and Its Role in Streamlining Financial Tasks

Automation tools have become indispensable for reducing repetitive and time-intensive tasks. Functions such as payroll processing, tax filings, and financial reconciliations can now be completed faster and with fewer errors. Businesses looking to optimize their operations rely heavily on platforms like those recommended by Accountancy Capital for sourcing qualified professionals. For more information visit their website www.accountancycapital.co.uk.

By eliminating the burden of repetitive tasks, automation allows accountants to focus on advisory roles, providing higher-value services to clients. This shift highlights the need for upskilling to remain competitive in a changing landscape.

Source: rvnatech.com

How AI Improves Decision-Making in Financial Management

AI tools analyze vast amounts of data to identify patterns and trends that humans might overlook. This capability enhances decision-making, particularly in areas like forecasting and risk assessment. For example:

  1. Predictive analytics ─ AI can anticipate cash flow trends or market risks, giving businesses a proactive advantage.
  2. Fraud detection ─ Algorithms flag irregularities in real-time, reducing financial losses.
  3. Expense optimization ─ Automated systems recommend cost-saving measures based on historical spending patterns.

Leveraging such capabilities requires an understanding of technology, coupled with expertise in interpreting results for actionable insights.

Challenges Created by Technological Advancements

The rapid adoption of AI and automation poses challenges for professionals, including:

  • Skill gaps ─ Transitioning from traditional methods to tech-driven workflows require upskilling.
  • Job displacement ─ Roles focused on manual tasks are at risk of becoming obsolete.
  • Ethical concerns ─ Decision-making algorithms may introduce bias if not properly monitored.

Mitigating these challenges involves ongoing education and embracing continuous professional development.

Source: runeleven.com

Skills Accountants Must Develop to Stay Relevant

The changing landscape necessitates a shift in core competencies. Key skills include:

  1. Proficiency in data analysis tools ─ Knowledge of software that integrates AI is crucial for staying relevant.
  2. Soft skills ─ Communication and advisory capabilities remain vital, even as technology handles routine tasks.
  3. Ethical awareness ─ Understanding the limitations and implications of technology ensures responsible implementation.

Combining traditional expertise with technological fluency is the key to long-term success.

Benefits of Automation for Accounting Firms

Automation tools deliver measurable benefits for firms, including:

  • Efficiency gains ─ Faster processing of routine functions, reducing turnaround times for clients.
  • Cost savings ─ Automated workflows lower operational expenses.
  • Scalability ─ Firms can handle larger client bases without increasing staff.

By adopting technology thoughtfully, firms can maintain a competitive edge while providing exceptional service.

Source: mcgowanprofessional.com

Ethical Implications of Adopting AI in Finance

AI’s growing role introduces ethical concerns that professionals must address. Bias in algorithms, privacy concerns, and transparency issues are common challenges. Firms must establish guidelines to ensure that AI tools align with ethical practices. Regular audits and accountability measures help maintain trust.

Future Trends and Opportunities in Financial Automation

Looking ahead, technologies like blockchain and machine learning will further transform financial practices. Accountants who embrace innovation will find opportunities in consulting, compliance, and strategic planning. Staying informed about emerging trends ensures readiness for new developments.

Conclusion

The rise of AI and automation is not just reshaping workflows but redefining the role of accountants altogether. By investing in upskilling and adopting tools thoughtfully, financial professionals can transition from traditional roles to strategic advisors, ensuring continued relevance in an evolving landscape.

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