We have all seen the gloating by sales people who cling unshakeably to the mistaken belief that they – and they alone – are holding the company afloat. ‘I brought in £500,000 in revenues last year,’ they say. ‘Without me we wouldn’t have a business.’
Next time you find yourself trapped in a similar conversation, suggest they swap jobs with you. If you deliver nothing, they really are worth £500,000 to the organisation. If you deliver £450,000, they are worth £50k. If you deliver £600,000 it might be time your once-esteemed colleague bids you goodbye. If that sales person were to take a moment for personal reflection, he or she might feel a tightening in his or her stomach. This is known as cyclosis.
Many CEOs and CFOs are already sufferers. For them it starts with a pang, before leading to intense feelings of bewilderment as they realise they are not making the difference to shareholder value they thought they were.
The highs were the result of a general economic upturn and the lows, well the lows were the result of their failure to anticipate the turning of the curve – and of their failure to deal with it.
Baffled by business buzzwords? Send them to firstname.lastname@example.org and we’ll attempt to deconstruct them.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements