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Hub You - Records Management And Its Key Role In Business Continuity And Disaster Recovery
Procurement can be defined as the purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. These good and services are also purchased at the correct time and location for the express gain or use of government, company, business, or individuals by signing a contract.The process of acquisition of goods or services required as raw material (direct procurement) or for operational purposes (indirect procurement) for a company or a person can be called procurement. The procurement process not only involves the purchasing of commodities but also quality and quantity checks. Usually, suppliers are listed and pre-determined by the procuring company. This makes the process smoother, promoting a good business relationship between the buyer and the supplier.The synonyms for procurement, which are gain, purchase, buy, and acquire, can throw light on the meaning of procurement. The process of procurement may differ from company to company, and a government institution may have a slightly different procurement process compared to a private company.Procurement can also be simply defined as the procedure in which goods or commodities are bought when prices are low. Procurement is advantageous if the goods are bought in bulk. E-procurement is another method in which the electronic media is used for acquiring or purchasing goods. Everything is processed electronically,
* Brand Building
The past can be used to support present performance. Archives add detail and depth to the public image of a company, differentiating it from the competition. Celebrating significant anniversaries or birthdays brings the long
If you are thinking about setting up a business, it pays to be thorough in your preparations. Before you invest as little as a single dollar, it would be advisable to compile a business plan to verify the feasibility and sustainability of the business you have in mind.In other words, the very first step to take when setting up a business is building a comprehensive business plan. Inside this plan, you will need to specify the product or service you intend to sell, which market segment you intend selling to and what the potential market size for your product is. The plan needs to contain information on the source of the goods or services you intend selling and note any potential risks in terms of supply. Infrastructure, human- and other resource requirements also need attention, should it be relevant to your proposed business.A critical aspect in setting up a business is the financial element. Do not forget to include possible financial sources, and to prepare realistic assumption-based financial projections on potential revenue, expenses and profits of the proposed operation. In developing the business plan, you should do some research about the industry in which you intend operating and study all government regulations that may be applicable to the proposed business. This time devoted to preparing for setting up a business, is a valuable investment.If you decide, based on the outcome of the busine
These days most employees rely on electronic systems to do their job and lost or damaged files can spell disaster. However while IT systems are often carefully considered and any perceived emergencies planned for, paper records can frequently be neglected. It’s difficult to pinpoint why this is except to say that perhaps manual records are considered unimportant when compared to expensive IT systems. Perhaps it is also the case that the sheer physicality of a paper record makes people (wrongly) believe it is not as important to safeguard as a computer file that could more easily be destroyed or corrupted. But to take this viewpoint is ill advised and short sighted.
Many organisations are under a legal obligation to keep certain records for a specified period of time. For example, financial institutions are now required to keep mortgage loan files for up to ten years after the loan has been repaid. Some medical records must be stored throughout the life of the patient and government institutions are now required to keep certain records for up to 50 years. Companies pay a high price for inadequate record keeping. In January 2003 The Bank of Scotland was fined ?1.25m for breaching anti-money laundering rules on the identification of customers because it had failed to retain a copy of customer ID or a record of where it was kept. Often there is a legal requirement to keep the original paper document even when it exists electronically and in any action, the legal weight of records will be greater if the original version is produced. The Business Archives Council, which promotes the preservation of business records of historical importance, gives some other reasons why it can be prudent to save original documents.
Among their points are:
* Transparent corporate governance
Good record-keeping is an integral part of transparent corporate governance. The implementation of the Sarbanes-Oxley Act in the US has brought heightened scrutiny of an organisation's internal controls and practices. Trustworthy and accurate records serve as a bedrock for a company's reporting systems and ensure that they comply with best practice
* A key part of Corporate Social Responsibility
Caring for your heritage can be a key part of a Corporate Social Responsibility policy. Businesses have impacted on the lives of their staff, customers, shareholders and on the communities in which they operate. Business archives record how lives have been affected and changed. Some companies have publicly acknowledged that their own histories are an important piece in the jigsaw of the past and that they have a duty of care to their own archives. Making business archives accessible to the public is a real contribution to the community.
* Brand Building
The past can be used to support present performance. Archives add detail and depth to the public image of a company, differentiating it from the competition. Celebrating significant anniversaries or birthdays brings the long-
The British food giant Tesco chooses its foreign markets based on the similarity of culture of the foreign market to that of its present markets. The company calls it psychic distance from the parent market. The factors comprising in the psychic distance are (Jody Evans, 2006) – Economic environment, legal and political environment, business practices, language and market structure. As per the Tesco management the psychic distance is one of key factor determining organizational performance. The company finds that it is relatively easier to position the products in the market where the psychic distance is less hence the learning curve for the company in these markets is relatively smaller compared to markets that have greater psychic distance.Strategy of Force in Expansion and Acquisition“One has to remark that men ought either to be well treated or crushed, because they can avenge themselves of lighter injuries, of more serious ones they cannot; therefore the injury that is to be done to a man ought to be of such a kind that one does not stand in fear of revenge” ( Machiavelli, Chapter 6)One of the hard fact in the world of corporate Mergers and Acquisitions is that majority of them fail to deliver the promised value. The returns of the hostile take over are even worse. Most prominent reasons for a merger or acquisition failure are the failure on part of management to incorporate the employees of ac
Many organisations are under a legal obligation to keep certain records for a specified period of time. For example, financial institutions are now required to keep mortgage loan files for up to ten years after the loan has been repaid. Some medical records must be stored throughout the life of the patient and government institutions are now required to keep certain records for up to 50 years. Companies pay a high price for inadequate record keeping. In January 2003 The Bank of Scotland was fined ?1.25m for breaching anti-money laundering rules on the identification of customers because it had failed to retain a copy of customer ID or a record of where it was kept. Often there is a legal requirement to keep the original paper document even when it exists electronically and in any action, the legal weight of records will be greater if the original version is produced. The Business Archives Council, which promotes the preservation of business records of historical importance, gives some other reasons why it can be prudent to save original documents.
Among their points are:
* Transparent corporate governance
Good record-keeping is an integral part of transparent corporate governance. The implementation of the Sarbanes-Oxley Act in the US has brought heightened scrutiny of an organisation's internal controls and practices. Trustworthy and accurate records serve as a bedrock for a company's reporting systems and ensure that they comply with best practice
* A key part of Corporate Social Responsibility
Caring for your heritage can be a key part of a Corporate Social Responsibility policy. Businesses have impacted on the lives of their staff, customers, shareholders and on the communities in which they operate. Business archives record how lives have been affected and changed. Some companies have publicly acknowledged that their own histories are an important piece in the jigsaw of the past and that they have a duty of care to their own archives. Making business archives accessible to the public is a real contribution to the community.
* Brand Building
The past can be used to support present performance. Archives add detail and depth to the public image of a company, differentiating it from the competition. Celebrating significant anniversaries or birthdays brings the long
I’ve had the pleasure and honor to meet some of the world’s greatest leaders and leadership gurus, from Sir Richard Branson, General Tommy Franks, and Captain Mike Abrashoff to Dr. Warren Bennis, Dr. Henry Mintzberg, and Tom Peters. And I get paid to do it! Through our work with Linkage Inc., we help support their broadcasts of these famous people by designing and developing participant and facilitator guides that many clients use to turn a 90-minute presentation into a true learning and growth opportunity.I recently had the opportunity to meet with Marshall Goldsmith, world authority in helping successful leaders get even better by achieving positive change in behavior: for themselves, their people, and their teams. His newest best-seller, What Got You Here Won’t Get You There, has sold over a million copies in two months!In his coaching, Goldsmith emphasizes the importance for successful leaders to first have a realistic view of their own successes before attempting change in themselves or in others. Goldsmith bluntly states, “One reason that it is hard for successful people to change is that successful people are (in a positive way) delusional.” Successful people, Goldsmith has found, often ascribe their success directly to themselves and their behaviors. Successful people, sometimes to their peril, believe:1) I am successful. 2) I act a certain way. 3) Therefore, I am successful
Among their points are:
* Transparent corporate governance
Good record-keeping is an integral part of transparent corporate governance. The implementation of the Sarbanes-Oxley Act in the US has brought heightened scrutiny of an organisation's internal controls and practices. Trustworthy and accurate records serve as a bedrock for a company's reporting systems and ensure that they comply with best practice
* A key part of Corporate Social Responsibility
Caring for your heritage can be a key part of a Corporate Social Responsibility policy. Businesses have impacted on the lives of their staff, customers, shareholders and on the communities in which they operate. Business archives record how lives have been affected and changed. Some companies have publicly acknowledged that their own histories are an important piece in the jigsaw of the past and that they have a duty of care to their own archives. Making business archives accessible to the public is a real contribution to the community.
* Brand Building
The past can be used to support present performance. Archives add detail and depth to the public image of a company, differentiating it from the competition. Celebrating significant anniversaries or birthdays brings the long
When you come up with great ideas for business gifts by looking at all of the wonderful possibilities available on the market today, you will be very pleased. Merchandise like nice office supplies that serve a practical purpose as well as looking great, or office items that are strictly for use as elegant office d?cor, there are many types of business gifts. Search for great business gifts that no one else will think of. You can come up with the very best business gifts of all when you reach out to find the perfect merchandise for your office or business location. Business gifts can be virtually anything, depending in the situation that warrants the purchase of top-of-the-line business gifts.For example:Say you have a real knack for picking out office d?cor, and furthermore, you have really been able to get a feel for the type of office d?cor that best suits your boss’s personal taste, if the business gift you need is for your boss, you may want to select a nice clock, a sculpture or even a painting as a business gift. Not your typical business gift, right. No matter, let your business gifts be original and unique ideas that no one else in the office will duplicate.Find something ideal for that office party on any occasion. If you are looking for a business gift for an office party, whether it is a Christmas party, or a birthday party for a co-worker, or a celebration of the company’s recen
Among their points are:
* Transparent corporate governance
Good record-keeping is an integral part of transparent corporate governance. The implementation of the Sarbanes-Oxley Act in the US has brought heightened scrutiny of an organisation's internal controls and practices. Trustworthy and accurate records serve as a bedrock for a company's reporting systems and ensure that they comply with best practice
* A key part of Corporate Social Responsibility
Caring for your heritage can be a key part of a Corporate Social Responsibility policy. Businesses have impacted on the lives of their staff, customers, shareholders and on the communities in which they operate. Business archives record how lives have been affected and changed. Some companies have publicly acknowledged that their own histories are an important piece in the jigsaw of the past and that they have a duty of care to their own archives. Making business archives accessible to the public is a real contribution to the community.
* Brand Building
The past can be used to support present performance. Archives add detail and depth to the public image of a company, differentiating it from the competition. Celebrating significant anniversaries or birthdays brings the long
Are you a homeowner or a business owner who would like to have your home or business inspected for mold? If you are and you are from the Burbank area, you will need to find a Burbank mold inspector to do business with.When finding a Burbank mold inspector to do business with, you will find that you can find Burbank mold inspectors by speaking to those that you know, using your local phone book, or by using the internet. The only thing is that you shouldn’t pick a Burbank mold inspector out of a bunch of business listings. Mold can have a serious impact on your health, as well as the value of your home or business. For those reasons, you will want to be sure that you don’t do business with just any ole Burbank mold inspector.When choosing a Burbank mold inspector to do business with, you will want to keep training and certification in mind. Most Burbank mold inspectors have undergone the proper amount of training and received certification for that training, but there are always a few people who end up flying under the radar. You will want to make sure that you not only ask a Burbank mold inspector about their training and certifications, but you should also ask to see proof. You may even want to ask about experience in the field. How long have they been working with mold?Should you end up having a mold problem, which can be determined after a visit from a Burbank mold inspector, the mold will n
* Brand Building
The past can be used to support present performance. Archives add detail and depth to the public image of a company, differentiating it from the competition. Celebrating significant anniversaries or birthdays brings the long-standing nature and the achievements of the company to the fore. Historic information and images can also be used to support particular brands emphasising their position in the market place.
* A market for nostalgia
Exploiting your heritage can bring in revenue. Companies with well known advertising and packaging logos and images can licence their reproductions in all kinds of ways: the Guinness Toucan, Colman's mustard and Pears soap are just a few examples of well known images that bring in money for their owners.
* Education
Archives can be used within a business to inform and educate new recruits about a company's history and successes and pass on company values and principles. Archives can also be used as an educational resource by learners of all ages - some companies have produced very popular and highly regarded educational resources aimed at schoolchildren.
Clearly some of these points would not be put under the heading of ‘Business Critical’ but they do give further background as to why paper records can be so important.
The first rule of thumb for any organisation should be to asses their records according to the following criteria: business value, legal value, administrative value, historical value. The records can then be classed as vital, important, useful or non-essential. For those records deemed vital, the next step is to ensure that the storage of those records is an integral part of your business continuity plan and this means considering how and where they are stored. In exactly the same way as you would safeguard your IT systems and electronic records, consideration should be given to the possible disaster scenarios and how you can guard against loss or damage of those records.
For many companies the first obvious factor to think about is physical location. A Morgan Stanley Brokers note in June 2003 estimated that 70% of businesses are storing records on their own premises. Clearly this has huge implications should that office be subject to any kind of negative event. The horrific and devastating events of 9/11 showed all too clearly the potential risks of storing vital business records on site with many thousands of important documents destroyed. But if not on site then where is the best place? Some companies discount off site storage for those records that are deemed ‘active’ since they can be concerned that, should they need them, it will be a difficult process to retrieve them but any professional records management company should be able to deliver a document back to you within 24 hours and/or a scanned electronic version within a few hours.
If that is not acceptable then consideration should be given to copying the record and placing the original off site. The same factors apply to long term or ‘inactive’ storage. When deciding on an off site storage provider another important point to consider includes the environmental c
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