Entrepreneurship, Edition 35

Small and Mid-Sized Business: Products and Information

By: Giulio Chiesa

When writing about SMEs – so glorious and yet forgotten – one must include two basic concepts and a pretty evident consequence.

The first point, fatally obvious, is that if we cannot see the problems happening under our very noses and in our companies, it will be very difficult to find effective solutions.

The second one, shockingly obvious, refers to the possibility that a well-made product might not sell very well.

The consequence of this story can be summarized in one word: information. It might be absent or present, broad or reduced, useful or not, systematic or improvised. Market information, buying process information, all this produced by that capricious, vague, and errant daughter called communication.

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Accounting, Edition 35

Where is the Budget Headed?

By: Yaneli Cruz and Ana María Díaz

“The budget is the ruin of Corporate America. It should never have existed.”

Jack Welch, CEO of General Electric

Budgets are one of the accounting tools most widely used in the planning and control of organizations. However, there is ongoing debate as to the usefulness of the traditional budget. How can budgets be made more flexible? Who are the people who should be involved in drawing them up? What should be included and what should be left out? How often should information be revised or updated? These are just some of the questions that arise when faced with the need for financial planning systems that are able to respond to rapidly changing marketplaces.

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Edition 35, Strategy

Strategic Direction: Between Design and Implementation

By: Dr. Jorge Humberto Mejía

One of the most important activities of Strategic Management is to optimize the links between design and the implementation of the strategies. However, this task is not evident at all. Research and consulting activities have given me the opportunity to work with public and private organizations (small, medium and global companies) in Mexico and in France, and a set of experiences have allowed me to corroborate a recurring problem in literature.

Some very well known authors in the international arena such as Kaplan & Norton (2008) state that one of the main problems 21st century organizations face is the implementation of a strategy. There is abundant literature in strategic management and they mention this situation and show it in case studies (Kaplan & Norton 2008; Grant 2003). Notwithstanding the bibliography contribution, professional experience has allowed me to identify some characteristics that I describe in the following sections, and subsequently compare them to classic and contemporary literature on strategy. The objective of this article is to provide the reader some food for thought on the existing links between design and the implementation of strategies in organizations.

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