In business, things don’t always go as planned. Whether it’s a mishap with an order situation, or too much debt, a company can quickly find itself staring in the face of financial ruin. No matter the situation, creditors will still be demanding their legitimate monetary claims, regardless of whether your company is facing insolvency or not. The final option is liquidating the company. The goal is...
Around the world, hundreds of thousands of companies exist without the purpose of producing a profit. What defines these so-called nonprofit organizations (NPOs)? Here, we explain what a NPO is and explain the various areas of activity of nonprofit organizations, as well as why managing one is so special. Read on to also learn more about the challenges NGOs are currently facing.
Insolvency has a bad reputation. It stands for a lack of funds and high debts. However, people often forget that insolvency proceedings don’t necessarily spell the end of a company. Insolvency administrators can help settle outstanding liabilities and help people keep their jobs.
Good crisis communication is important for any type of business because brands can damage their reputation in the long-term by using bad communication. Find out more about the process of establishing a crisis communication plan and the three phases the plan should cover. This article provides valuable tips to implement a crisis communication plan for each of the three phases using examples.
Crises or emergencies can affect any company. However, a well thought-out crisis management plan helps your company get back on track. To safely navigate through tough times, a company needs a competent crisis team which can examine the reasons, make decisions, and coordinate the right steps to take.
For many companies, a crisis management plan is at least as important as a solid business plan. It ensures that corporate governance is maintained during critical times and a business can respond to an existential threat more efficiently. But how do you create a crisis management plan and what else do you need to know? Find out in this article.
When businesses face a shortage of work for their staff, they may be able apply for government aid as part of a work-sharing program instead, often also referred to as short-time working. As an employee, this means that you would be working fewer hours but at a reduced pay. To replace partially lost wages, staff can claim some unemployment benefits. Here’s what you need to know about work sharing...
Employees are generally given a certain number of vacation days which they are free to use as they please. There are certain situations, when an employer can intervene and put staff on unpaid leave. Find out what the conditions for furlough are, when it can be ordered, and how many days employees can be furloughed for.
Whether you’re self-employed or employed – a growing number of professionals are working from home and many even set up a dedicated space to perform their job duties. To reduce any resulting financial burden, the costs for working from home can be deducted from your taxes. However, certain conditions need to be met for you to qualify and only some expenses can be claimed.
What is crisis communication? Many companies make the mistake of remaining silent during a crisis. Instead of addressing issues head-on, they are swept under the carpet – creating a perfect breeding ground for rumors that have the potential to damage a company’s reputation further. Businesses that don’t react well and initiate good crisis communication can damage their image long-term.