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wherebee

Short termism

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So I noted that Trump asked senior businessmen in the US what they wanted to change to make America more competitive, and in the top three was 'quarterly reporting'.  

 

I've seen again and again decisions in large companies which are destructive and mental over the 5-10 year period, just to hit a short term target for the market analysts.  Usually around cost/income ratio.  Add in the fact that official action is normally long after the decision makers have retired to their private islands, and it's easy to see why short termism is so common.

 

How would DOSBODDERS change business to make long term planning better?

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3 hours ago, wherebee said:

How would DOSBODDERS change business to make long term planning better?


I would ensure banks only lent sensibly to sensible businesses.
I would stop councils owning any land or buildings that were not essential for the housing of directly employed staff or services.
I would put a huge tax on any wage earnt after an MP has finished being an MP and during being an MP, in order that the benefits they gain from having been an MP are paid back to the country.




 

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Rip to shreds almost all employment law/regulations for any firm with fewer than five employees.

Allow sole traders access to some kind of 'student loan' style finance.

Make PAYE reporting annual for businesses with just one employee.

more to come ....

 

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Make all bonuses payable on a cash accounting basis. A deal is not a deal until the money is in the bank.

I started that at my company three years ago and that has focused their minds.

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The economy is based on the pathological notion that there can be consistent perpetual growth in all things, year on year. Reform this and it is likely businesses will change their behaviour. I think it all starts with the money system. If that is corrupt then everything that lives on it is corrupted.

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23 minutes ago, Cunning Plan said:

Abolish full repairing long term leases for small businesses.

Move them more to a residential style lease.

 

Good point. Also outlaw yearly rent reviews to prevent landlords soaking up all the businesses profits.

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Completely second making it easier for small employers to shed useless staff. I had to mediate a bust up between two "senior" managers when one broke another's "sum function" in an excel sheet that neither knew how to fix. Just summed it up for me, they'd spent a morning trying to figure it out. This is the state of the team I manage, people sat in jobs for 30 years and whose skills stagnated in the late 80s. Owners unwilling to upset the apple cart for the short term blowback so most of the day is spent having to wipe the arses of people paid £40-50k+ whose only contribution is upsetting team morale. Anything to make it easier to remove these parasites the better.

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In my industry there is a massive problem of no companies being willing to train people. Colleagues 10-20 yrs older than me got loads of training but then all the jobs got out sourced to save money. Great for short term savings. But now all the out sourcing companies have to compete to do the work for the lowest possible price meaning they cannot afford to waste time or money training the younger people. If they do spend on the training a competitor will steal the employee. The result is there is now a massive shortage of skilled people and the knowledge is not being passed down. Business leaders then complain not enough people with these skills seemingly unaware that this is the long term effect of outsourcing everything and paying the lowest price.

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How would DOSBODDERS change business to make long term planning better?

How about mandating that anyone who want's to become an MP has to have at least X (5?,10?) years experience in real life "business".

That'd surely go some way to focus some effort on how business(es) could be better run?

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13 minutes ago, leggers said:

How about mandating that anyone who want's to become an MP has to have at least X (5?,10?) years experience in real life "business".

That'd surely go some way to focus some effort on how business(es) could be better run?

You mean like Grant Shapps?

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10 hours ago, PatronizingGit said:

Limit the number of times someone can start a business, run it into the ground and start over!

More than 5 failed businesses behind you, thats it...unless you can pay off all past creditors. 

How do you expect Saffer contractors to survive if they pay tax you heartless bastard? 9_9

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12 minutes ago, Cunning Plan said:

You mean like Grant Shapps?

Maybe we could use him as some kind of minimum entry requirement.

 

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8 minutes ago, leggers said:

Maybe we could use him as some kind of minimum entry requirement.

 

Oddly enough he is one of the very few people to run a moderately successful print business in the UK for 20 odd years without Phoenixing. So he must be doing something right.

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2 hours ago, maudit said:

In my industry there is a massive problem of no companies being willing to train people. Colleagues 10-20 yrs older than me got loads of training but then all the jobs got out sourced to save money. Great for short term savings. But now all the out sourcing companies have to compete to do the work for the lowest possible price meaning they cannot afford to waste time or money training the younger people. If they do spend on the training a competitor will steal the employee. The result is there is now a massive shortage of skilled people and the knowledge is not being passed down. Business leaders then complain not enough people with these skills seemingly unaware that this is the long term effect of outsourcing everything and paying the lowest price.

 

Yes exactly this.

The other issue imo is that company recruiters need to get off their backsides and go into local schools, colleges and universities and tell them exactly what “skills” they require. The schools can then work with them to develop these skills in and out of lessons. No cost to company and the teachers will be very grateful for some focussed current industry feedback to work with rather than the useless union/MSM/ofsted guff. 

And of course then a good crop of local young and energetic workers to recruit from every year that you had a hand in training. But of course British youths are idle and lazy and gobby apparently so they won’t put themselves out.

 

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