7 Things Every Leader Should Know About Strategy!

Strategy is a cool word. People like to use it. It leaves a good impression with your audience when you talk about ‘strategy‘.  But strategy is probably the most over and misused word in business. And we often have the impression that the more someone uses the word ‘strategy’ in a conversation, the less they know about the subject .

Most people who use it don’t really know what strategy is all about or don’t understand the important underlying business strategy principles. This mini guide about strategy wants to change that.

Know these inside out and you will do better than 80 percent of the managers that you will come across

1.      Business Strategy = compete to be unique, not to be the best

Strategy is not about being the best, but about being UNIQUE. Competing to be the best in business is one of the major misconceptions about strategy.  And if you only remember one tip from this list, it should be this one. Many leaders compare competition in business with the world of sports. There can only be one winner. But competing in business is more complex. There can be several winners. It does not have to be a zero sum game – you win, I lose or vice versa.

Within a single industry, you can have several companies beating the industry average, each with a distinctive, different strategy. They are no direct threat to each other. There can be several winners. So the worst possible approach to strategy is to seek out the biggest player in the industry and try to copy everything they do.

“Strategy is a pattern in a stream of decisions” Henry Mintzberg

 

In January 2017, the second-largest bank acquisition took place in Uganda. We anticipate that more mergers and acquisitions are looming in the Ugandan financial services industry. To this end, JSR provides herein a matrix of risks that participants in the deal should consider in the due diligence. For further clarity, Financial Services Partner can be contacted on This email address is being protected from spambots. You need JavaScript enabled to view it.

JSR bank

The appointment was to fulfil the requirements of the Tax Procedures Code Act 2014 in which a Committee of five members was to be appointed. Every Ugandan tax payer is entitled to a Tax Identification Number (TIN). However, it is understood that some tax payers will require the services of a competent and authorized tax agent. The Tax Procedures Code Act 2014 was enacted to bridge this gap but also regulate and protect and tax payers through a formal and robust accreditation process by the Tax Agent Registration Committee (TARC)

At JSR, we believe we have the credentials to become your tax agent. The qualifications are set out in the TPC Act 2014. JSR will formally submit its registration details to the TARC once the Committee begins calling for applications.

The TARC will then publish a list of accredited tax agent’s on the appropriate media.

Deadline: 15 May 2017

 

J.Samuel Richards® & Associates (operating under the brand name JSR) brings together a team of professionals with both local and global experience in the areas of auditing, tax, accounting and consulting with an ultimate goal of optimizing performance of our clients.

JSR is looking to recruit a number of Assistants and Seniors. Applications should be submitted electronically to This email address is being protected from spambots. You need JavaScript enabled to view it. by Monday 15 May 2017.

Criteria

The candidate should demonstrate the following:

  • Bachelor’s degree in accounting, finance, technology or the equivalent combination of education, training, and work experience.
  • Strong organization and follow up skills including the ability to handle competing priorities and meet all deadlines and commitments
  • Reliability
  • Possess an appropriate combination of technical expertise in fields such as auditing, finance, technology, operations, or investigations
  • Ability to flourish in a fast-paced, complex environment and willing to adapt to change
  • Public accounting firm experience is desirable but not required
  • For Seniors, a minimum of two years’ audit experience is required as well as partial professional accounting certifications.

Your role

JSR mission is “to enable our clients build and sustain high performance”. Your role will be to:

  • Understand the client’s needs;
  • Work as a team and suggest solutions to client needs;
  • Ensure the firm complies with International standards;
  • Translate knowledge into practice;
  • Train the client staff to address any gaps; and
  • Optimize performance of the clients and the firm.

 

JSR has implemented the automation of its audit/assurance processes through the acquisition of the DraftWorx software – affordable and renown solutions for achievement of IFRS and ISA compliance. The software provider can be visited at www.dataprime.co.za and JSR is pleased that the solutions will yield benefits for the firm and its clients.

JSR will be able to import trial balance direct from a number of accounting applications that are used by clients; namely SAGE, QuickBooks, Xero, CaseWare, DraftWorx and even Microsoft Excel. We believe that this software will lead to a win-win result for both JSR and its clients. Furthermore, the software is flexible in that it also has capabilities for IPSAS, ISRE and ISRS compliance.

Acronyms:

IFRS       International Financial Reporting Standards

ISRS       International Standard on Related Services

ISRE       International Standard on Review Engagements

ISA          International Standards on Auditing

IPSAS    International Public Sector Accounting Standards