Interesting post today on Richard Branson’s blog by one of his colleagues who talks about how innovation was the key component behind making the Virgin brand so successful. My favourite line is right at the bottom: One of the key things I have learnt from Richard over the past 15 years or so is always challenge. Challenge your business to innovate by asking the unaskable, challenge industry norms and always ask, why? And then more importantly, why not? I concur…
It’s interesting to note how many academic subjects end up being used in practical applications without most people being aware of what they’re actually doing. For example, you can look at subjects like mechanical engineering for example; where people who drive cars have no idea what’s going on beneath the bonnet. Another similar subject, is finance, particularly in the world of insurance. Insurance is really all about managing some sort of risk. The formal disciple, called risk management, has evolved…
Here’s an interesting way to present some golden rules to help the general public deal with the current recession. It’s a great post today that lists the 10 Commandments of Personal Finance. Here’s a summary: Though Shalt Take Action Though Shalt Pay Off All Credit Card Debt Thou Shalt Understand the Difference Between Wants and Needs Thou Shalt Live on Less Than You Earn Thou Shalt Pay Yourself First Thou Shalt Set Financial Goals Thou Shalt Educate Yourself and Be…
With economic turmoil at our shores it is easy to forget that others around the world are facing similar hardships. I was reading today that Japan’s economy isn’t looking too hot at the moment. The base rate is set to 0.1% (lower that the UK or the US), unemployment has risen to 4% and output has dropped 8% in November with another expected 8% drop in December. The problem is that forcast sales of the goods produced by the Japanese…
I was reading about a financial instrument we have available here in the UK called an IVA (Individual Voluntary Arrangement) which is a formal and legally binding agreement between someone in debt and his creditors. It’s not quite a free ride through because although the terms of may vary, creditors will expect that their prospects of recovering money will be at least as good as in bankruptcy. Creditors also don’t lose their right to bankrupt you if you don’t fulfil…
I was looking at how much the Sterling is worth against the Euro today and was shocked to see the exchange rate is pretty close to 1. Here’s how the Pound has dropped recently: It’s amazing to see how far down it has come, I remember it being at around 1.5 Euros to the Pound. Will be interesting to see what happens in the next few months …