In my previous collaboration of June 3 last , “The Origin of Constructive Ideas in Companies “, I raised a number of elements, where they come from this kind of ideas and how they should be promoted in enterprises, primarily in SMEs, on creativity and initiative among all its employees and workers, not only among his advisers and directors.
As you read the previous article, in the imagination of any reader restless, arise, the question:
What constructive ideas could be proposed for the company I’m working ? Although the possibilities for this can be many, depending on the type of company and the person who proposed and accepted that I propose to start with the following:
- How about if considering the historical growth and potential of our SME or large company, rather than continue borrowing from financial institutions, with the consequent payment of interest and commissions, we decided to evaluate the possibility of placing part of the capital of our company on the Mexican Stock Exchange to fund our productive projects.
- How about if we hire both executives as consultants and trained external auditors and greater business vision to promote growth and development of new and improved operating efficiencies and administrative in our companies.
- How about if we decide on our company enjoy the benefits of having an efficient corporate governance , to give a better image to the business community and our board of directors.
- How about, if we are planning the succession the CEO, executive officers and our board members of the council, to ensure have in the long term better corporate governance and better decisions in our company.
- How about if we do not persist in thinking that our products and services we offer our customers are the best, and instead, we explored to bring new and better concepts of product lines and services , related to our turn, that have been successful in other developed and emerging countries.
- How about if even platicáramos and negociáramos with these foreign innovative companies to be their distributors or partners , offering our experience, business success and distribution points.
- How about if we probe on the market, which other more effective and cost – effective systems exist to reduce electricity consumption, gas, and other fuels to reduce our production costs and operating expenses.
- How about if we take the opportunity that Mexico gives of being the second nation in the world with more signed free trade agreements in the world, with the European Union, Japan, and the Strategic Agreement Trans-Pacific Economic Partnership (TPP), to increase our export base to a larger number of countries, not only depend on our exports to the American union.
- How about if we were to think about developing new and more effective ideas of value Added to retain and attract more customers and differentiate ourselves from the competition.
- That such should be exporting, now that raised the value of the US dollar, if we hire currency hedging, to ensure greater value our exports for an extended period of time.
- How about if we hired a specialist in financial derivative instruments, to better plan the level of the exchange rate of the dollar for the next twelve months, either, we are exporters of products or importers of inputs or foreign products.
- How about if we make a proper and thorough financial evaluation of our investment projects, rather than deciding “to tanteómetro” or our “hunches” every time we get to open a new line production, a factory, a store, a distribution center or buy new machinery.
- How about if for the construction of our new building, plant, warehouse or store, we ensure that the volumes of actual work are paid, hiring an employee professional or an expert external consultant in technical audits independently for the administration of the work, determine and compare the actual volumes vs. billed volumes, in order to identify overpayments. My experience shows that in all private works there are always differences paid more than 1 to 15 percent.
- How about if we decided to our SME or large company, identifying and establishing performance indicators needed to better control all our operations purchasing, production, maintenance, distribution, sales, and accounting, establishing a system of statistics and graphs about it.
- How about if we think about installing an effective integrated information system, rather than having spaced systems to better control how the various operational phases of our company, purchases, production, distribution, sales and accounting of our company.
The above are just a few initial examples of constructive ideas that can help our company to make it more efficient and profitable, which are recommended boost to not only increase profits, but to keep it on the market under the onslaught of competition which may jeopardize its continuity.
The author is a member of the Finance Committee and the Financial System of the College of Public Accountants of Mexico and Business Consultant