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Ten Reasons You Should Consider a Career in Logistics

 

By Morgan International Staff Writers

Logistics have an important role to play in every company, whether you work in the manufacturing, services or public sector. You can learn about intricate supply chains and the workings of different types of businesses. Here are a few reasons you should consider a career in logistics:

  1. Every day is different- you will work with companies of all sizes and across sectors. One day you could be transporting raw materials to a chemical company, and the next transporting aid to an area after a natural disaster.
  2. Pay- In the USA, logisticians’ salaries are increasing incredibly, with the average salary hitting $74,000, and you don’t need a degree to achieve this.
  3. You don’t want to sit behind a desk all day- If you want to develop skills which aren’t necessarily “office-based”, then logistics is for you.
  4. Start anywhere- there’s no need to be in a specific region or area to work in logistics as almost every organisation in operation will have a need for logisticians.
  5. Make long-lasting relationships- Logistics is full of people from all walks of life, and given the need to interact on an every day basis with your customers, this could open up opportunities for further advancement and cultural learning.
  6. Global industry- logistics is a global industry. There are many opportunities for travel, as well as the chance to learn more about how international businesses operate.
  7. Promotion prospects- the industry is well known for training low-skilled employees and promoting from within over hiring externally. Logistics is an industry based on merit.
  8. Opportunities are plentiful- Logistics isn’t just arranging transport of a product, professionals can focus on other sectors within the industry such as warehousing, wholesaling and postal services. The industry is truly varied, with there being large multi-nationals, SMEs or government entities for which you could work.
  9. Jobs are available for people of all levels- You don’t require an advanced degree to work in logistics, with jobs available for those of any skillset.
  10. Stability- the logistics industry is the backbone of the economy. All companies will always require logistics, so employees can enjoy security that those in other sectors may not.

A career in logistics could change your life by giving you freedom, flexibility and growth not offered from other jobs. To change your life today, check out our courses. https://www.morganintl.com/cscp/#

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Marketing as a service: the importance of taking a holistic approach to customer experience

 

By Morgan International Staff Writers

A customer’s relationship with a business goes far beyond the purchase of a product or a service – so it’s crucial to take a complete view of their experience with the brand.

 

A customer’s experience of a business goes far beyond the purchase of a product or a service. This is the fundamental concept of branding – that the customer relationship begins with brand sentiments derived from advertising, marketing and word of mouth; and that everything about the delivery and the consumption of the product will affect how the customer engages with it. In the age of digital media, this is now more true than ever.

 

Consumers today expect personalization as standard, and if brands are inconsistent in their delivery, or have flaws in the experiences that they offer, then they will be deemed sub-par. This can even extend beyond their own offering and on to working with partners in order to meet all of the customers’ needs – ensuring that the overall experience is fast, frictionless and simple. This is what lies behind the evolution of marketing as a service: not just building a product and a brand but mapping out the complete customer journey and going above and beyond to optimize the experience.

 

Fields that can particularly benefit from this approach include the travel and online retail industries. When staying at a hotel or taking a flight, notably good service – which shows that the business understands the customer – will act as a key differentiator. In the field of ecommerce, meanwhile, being able to direct customers to appropriate products and to recommend additional similar or related items will be a crucial factor in driving sales growth and in satisfying customers.

 

There are three key steps to deploying marketing as a service as a strategy:

 

  • Ensure that you are collecting, retaining and collating information wherever possible and, if you have contact with customers across multiple channels, that data is unified.

 

  • Consider the customer’s experience from the very first stages and ensure that feedback is sought at every step of development.

 

  • Take a holistic approach to marketing, unifying your messaging, and the teams delivering it, across channels and platforms.

 

To learn more about innovative ideas in marketing, take a look at our professional training programmes here. https://www.morganintl.com/cdmp/#

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Human Resources (HR) In 2018. What should you look out for?

 

By Morgan International Staff Writers

As the Human Resource landscape continues to grow and develop, it is almost certain that the arrival for the new year will bring with it new trends and tools for HR professionals everywhere.

 

Unsurprisingly, the predicted shift in HR operations for 2018 are largely focused around technology; how to find, hire, retain and even replace the people within an organisation.

 

So, what should we be looking out for in 2018? We look into this further, exploring upcoming trends such as:

  • passive candidates,
  • remote working,
  • non-discriminative hiring and more.

 

Headhunting Passive Candidates Will No Longer Be Enough

While headhunting candidates currently in employment has always been a key HR strategy when it comes to recruitment, relying on workers posting their CV on a career site is no longer enough. The changes and developments in social media mean that HR professionals now have access to new untapped talent pools and the opportunity to take a more targeted approach.

 

Working Anywhere, Any time

Whether working from home, a coffee shop or in the office itself, HR teams should now be prepared to offer employees the option of flexible working. In fact, latest research shows that:

  • The number of employees working partially via telecommuting has quadrupled
  • Meaning, this now stands at 37%!

Ultimately, this means that organisations that want to maximise their employee wellbeing and workplace morale must be prepared to offer remote working as an option. This will be the key to best HR practices throughout 2018, and you can learn more about how to implement this via our courses.

 

Recruitment Without Bias

As bias in the workplace and hiring process becomes an increasingly popular talking point, the easiest way to avoid the issue, and a strong trend we’re predicting for 2018, is the process of ‘blind’ recruitment. By stripping away information such as:

  • name (first name and surname)
  • age
  • race
  • religion

about an applicant which could cause unconscious bias, will open both HR professionals and potential employees up to a fairer recruitment process. This will prompt organisations to find the best fit for the job through a non-biased approach.

 

Is It All Fun and Games?

Well, no. But gamification is a trend which has infiltrated many workplaces, and we suspect it will continue to do so throughout 2018.

By turning the most unlikely processes into a game, i.e. recruitment and personality testing, HR professionals should be able to make use of technology such as smart phones and apps to use gamification.  This includes algorithms and key metrics to devise whether an applicant is a good fit or not.

 

In Summary

For HR workers, the field is ever-changing. This is why it is crucial to stay up to date and ahead of new trends and technologies. Through our programme, we offer insight into what can be expected from 2018, and how this can be implemented into organisations to garner the best possible results.

 

More information is available on our courses, click here or get in touch now to find out exactly what you need to be looking out for in the year ahead.

 

 

Potential areas of risk for the 2017 audit cycle

 

By Morgan International Staff Writers

When a business is entering the audit cycle, there are some primary considerations that it should take with regards to the audit and potential areas of risk that might be within the business.  These need particular attention – how the auditor will plan and execute their audit, the tools being used and other more complex areas of the process.  The business should also consider the auditor and indeed their suitability for the role.

  • Auditor independence

The auditor needs to be a completely neutral person who isn't affiliated with the company or connected companies in any way to ensure that the audit is consistent and high quality.

  • Multinational audits

If the auditor is from outside the country, it is important to check the professional reputation and independence of the auditor with companies and professional bodies in their home nation.

  • New accounting standards

If the company has transitioned to any new accounting standards during the year, this is a high risk for the audit cycle as the overlap could leave areas of vulnerability.  New standard approaches are being encouraged for revenue recognition, credit losses and preparing the financial statement.

  • Economic factors

All businesses can be affected by certain economic factors – the rise of fuel prices is a classic example.  Ensure these are factored into the audit cycle appropriately.

  • Financial reporting areas

Potential areas of risk include the assessment and management of ongoing concerns by the auditor and that the procedures of evaluation and testing can cover earnings in foreign jurisdictions.

  • Ever increasing transparency

New rules require the disclosure of more information in auditors including the role of an engagement partner and other participants so this needs to be factored into the audit process.

There are also other considerations that should be used to look for risks and problems within the method including:

  • Engagement quality review
  • Improper alteration of documents
  • Cybersecurity risks
  • Software audit tools
  • Auditor’s reporting model (if a new version is pending approval)

Controlling risks

An important part of the auditor’s role and that of the company using their services is to identify and handle the many risks within the audit cycle to help minimalize or remove them entirely.  By considering areas such as the economic factors affecting the business and any new accounting standards employed by the business, areas of risk can be identified before the audit and made certain to give the correct attention during the undertaking.  This makes for a more successful audit process.

 

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10 Steps to Acing Your CFA Exams

 

By Morgan International Staff Writers

Taking CFA exams can be a daunting prospect. Here are 10 steps that will put you on course to getting the best results possible.

 

Taking CFA exams can be a daunting prospect – and there’s no doubt that a pass requires a huge amount of work. Here are 10 steps that will put you on course to getting the best results possible.

 

  1. Plan for the long run

 

Taking CFA exams is no small thing. Candidates are advised to begin preparing six months before the exam and to pursue several hundred hours of study over this period. This will allow you to spend significant amounts of time on every topic and to revisit specific areas of study, ensuring that the subject matter is cemented in your memory.

 

  1. Make the best use of your time

 

It’s all too easy to put off studying, particularly when you have other commitments. To ensure that you are able to commit time, block off hours in your calendar. If you stick to this, it will soon become a habit.

 

  1. Approach studying in a way that’s right for you

 

People learn in different ways. Find an environment that’s comfortable and where you can stay focused, whether that’s in the library or at home. Then think about how you absorb information: do you get the best results just from reading, from writing up notes or from talking through your studies? Try to mix things up, but use the techniques that work most effectively for you.

 

  1. Drill yourself on the exam

 

Practice makes perfect, so there’s a lot of value in running through test questions and past papers. The key thing is to ensure that you have a rounded understanding of the full curriculum.

 

  1. Don’t silo your studying

 

You might be tempted to follow the curriculum one area at a time – but you may actually see much better results by concurrently studying multiple topics, and seeing how the big picture fits together.

 

  1. Ensure you cover everything

 

It is important, however, to make sure that there aren’t any areas that you’ve forgotten about or ignored. Even if you think that they won’t come up in the exam, neglecting topics could trip you up in a big way.

 

  1. Take advantage of material supplied by the CFA

 

The CFA offers a great deal of material online that can be extremely useful when preparing for exams – so make sure to take full advantage of it.

 

  1. Take care of your health

 

You might feel like you have no opportunities to take a break, but it’s important to stay healthy, to get good sleep and to exercise while studying. Though this might take a little time, it’ll put you in a better position, both mentally and physically, and better prepare you for learning and retaining information.

 

  1. Make sure you have everything ready for the exam

 

When it comes to the exam, make sure you allow plenty of time to get there and that you have all the materials you need – and only what you’re allowed – with you.

 

  1. Take a sensible approach to the exam

 

It might seem obvious, but it’s important to have a strategy to how you approach the exam – manage your time, and work through the simple questions first; answer every question, even if you have to guess; and remain calm!

 

To gain more insights into becoming a chartered financial analyst, take a look at our professional training programmes here. https://www.morganintl.com/cfa/#

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Innovative Approaches to Supply Chain Quality

 

By Morgan International Staff Writers

Supply chain management and quality control can become challenging and predictable at times. There are some high technology, innovative industries where advances in supply chains are being seen through new approaches and methodologies. Also, in a time of natural disaster, there’s certain ways to make your supply chains more sustainable and reactive to change, with a few of these ways outlined below:

 

  • Spreading best practice- many industries are heavily regulated, and it’s up to companies to ensure that their products will be used safely and effectively further down the supply chain. This also sets higher product standards and paves the way for innovative manufacturing methods.
  • Physical risks- practically looking at your suppliers helps to mitigate risk. For instance, start out by identifying on Google Maps where your suppliers are located. Are they in areas of potential natural disaster? This exercise helps visualise where your suppliers are, and is a cost effective method of analysing the quality and security of your supply chains.
  • Environmental- design your product so it’s environmentally friendly and reduces its environmental impact throughout its lifecycle. This could be done by changing transportation methods, reducing packaging, making it recyclable and other innovative ways to create an efficient supply chain.
  • Assembly- Ensure the product is (where possible) designed for ease of assembly and disassembly, as well as reuse. This could lead to innovative ways of transporting a product, leading to reduced costs and higher productivity.
  • Offer valuable data- increase the availability of data in your supply chain. Finding reliable data is something that will set you apart from competitors. This data is estimated to increase by about 50% every year.

 

Thinking innovatively and increasing supply chain quality can give you a competitive advantage. To find out more about how to learn about your supply chains, enrol in one of our courses today. https://www.morganintl.com/cscp/#

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Here’s What WhatsApp Business Can Do For You

 

By Morgan International Staff Writers

WhatsApp has launched a new version of its app: WhatsApp Business. Is this a digital channel that’s worth investing time in?

 

WhatsApp has launched a new version of its app – WhatsApp Business – with the objective of helping consumers to connect with brands. There are a host of digital channels and initiatives that can occupy the attention of any business, so it can be tough to know where to commit time – is WhatsApp Business worth it?

 

Many companies would say yes, having already been using WhatsApp Messenger on an informal basis for years. Indeed, the business version of the app is intended to recognize this need, verifying accounts (as is possible on Facebook and Twitter) and allowing companies to better manage their customer communications on the platform. “WhatsApp Business enables you to have a business presence on WhatsApp, communicate more efficiently with your customers and help you grow your business,” the app’s description on the Google Play Store reads. In short, it makes previously ad hoc commercial use of WhatsApp official and offers a new channel for businesses to reach their audiences and to communicate with users.

 

Recognizing the significant existing business userbase, the app will allow companies to convert their Messenger accounts into Business equivalents (via a one-way process). The new app also allows commercial users to run both WhatsApp Business and WhatsApp Messenger from the same device, ensuring that it remains flexible to use; and the account comes with a formal business profile, which can host information such as website links and contact details.

 

Consumers expect businesses to be readily available online and contactable via the apps that they already use. With 1.3 billion monthly active users, WhatsApp has an enormous audience already engaged with the platform, so having a presence there fills an important piece of the picture in cross-platform coverage.

 

For overstretched small businesses, setting up a WhatsApp Business account may not seem like a priority. However, for companies with the time and resources, it clearly has a huge amount of potential – ensuring that when customers look for your brand, it’s there; and that queries, comments and complaints of all types are swiftly picked up and dealt with.
To further explore how new technology is revolutionizing marketing, take a look at our professional training programmes here. https://www.morganintl.com/cdmp/#

 

 

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Crafting the perfect resume. What will you need in 2018?

 

By Morgan International Staff Writers

When it comes to creating the perfect resume to help you stand out and be noticed by potential employers, there are two things you need to know.

  1. Resume trends come and go. From QR codes to headshots, there are always new trends to consider!
  2. Some things never change at all, and these are the areas that you have to nail down and get just right to be in with a strong chance of getting your resume noticed.

 

If 2018 is your year for making a career change, getting on the career ladder, or simply polishing up your current resume, here is a definitive list of everything that you will need to get ahead of the game and really stand out.

 

Presentation is Key

Regardless of the role that you are applying for, design and format always make a huge first impression. Keep your format clean and simple, and perhaps add in a burst of colour (if possible/appropriate) to break up the written content without distracting the reader. Similarly, stick with a font which is easy on the eye and doesn’t automatically look old or outdated. For 2018, Times New Roman, is strictly a no!

 

Start Off Strong

Recruiters and employers have many resumes to get through, so it is important that the top one-third of yours really grabs attention. Include the key information that you want employers to notice, and include links to any examples of work or portfolios if possible.
Key things to include are:

  • Contact details (A Gmail address or an address linking to your website – if you have one – are preferable)
  • Links to samples of your work
  • Links to samples of your products (if applicable!)

 

Draw Out Key Skills

Specifically highlighting the value that you can bring to an employer or company is crucial. Therefore, it is important that near the top of your resume, you really emphasize your key skills and the knowledge you can offer.

 

While soft skills are important further down the line, it is better to focus on your hard skills – as this is what will get you noticed by bots and humans alike. A great way of ensuring that your resume makes it into the right pile is by noting the key skills mentioned within the specification of the job you’re applying for, and weaving these into your key skills section.

 

 

 

Don’t Be Shy

Potential employers want to know what can add to their organisation, so it is important that you clearly outline any achievements, stand-out experiences, and key targets hit within your current or most recent employment.

 

While it may not always feel natural to talk yourself up and promote your own accomplishments, when it comes to creating the perfect resume, it is essential to do so – not only will it enable to you to stand out to hiring managers, but it will very clearly show why you will be the right fit for the job, and what you will be able to bring to the team.

 

In Summary

As we mentioned earlier, resume trends will always come and go, and whether you choose to incorporate them is entirely up to you. But as long as you have perfected the areas above, your resume stands a much stronger chance in 2018 of landing in the ‘yes’ pile rather than in the trash!

 

If you found this article to be of interest, we are certain that you will also find value in one our programs. Please contact us today for further information or you can begin your enrolment now.

 

 

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How and when to grow your company’s accounting function

 

By Morgan International Staff Writers

In many cases, when a business first starts there’s no need or the budget to employ a full time accounting professional.  As the business grows and the accounts become more complex, there is sometimes the need for more advanced software or even a part-time professional.  Sometimes the services are outsourced to someone outside the company.

Finally, the company reaches the point of having one or more professionals working full time on the accounts.  But how do you know when your business reaches the stage and is ready to move and grow?

Starting a business

  • DIY services

When you start a business, it is crucial to start accounting from day one or things can quickly get out of control.  Many companies use software such as QuickBooks to set up a connection to their bank account, automatically handling basic accounting functions.  It can take care of bookkeeping tasks such as; business income, business outgoings (expenses) and invoicing clients.

Sometimes the task may be outsourced to a freelancer on a regular basis.

  • Tax preparation

As the year progresses, there is the need for tax preparation.  This is a different job to bookkeeping and the professional required is often a different one.  The software can do some of the job, compiling the information needed.  Often a freelancer can be used to submit the actual self-assessment or corporation tax returns to ensure it is done correctly.

Growing the business

  • Freelance services

As the business grows and people are employed by the company, the accounts become much more complex and a part-time accounting staff member is often used alongside the software.  Alternatively, a regular freelance service can be used on an ongoing basis to handle tasks such as payroll, tax and bookkeeping.

  • Cash flow monitoring

Accounting is about more than just tax – it is the measure of the financial health of the business.  Therefore, the accounting department, whether one part-time staff member or a room of full-time staff, are responsible for providing reports and information to help monitor the cash flow of the company.  There may also be compliance issues to consider depending on the industry.

The larger business

  • In house specialists

When the business reaches the stage of multiple employees, multiple contracts with different customers or a range of products, then a full-time accounting person is often needed – sometimes a team of them.

 

  • Compliance and company reports

There may be one person handing general bookkeeping and payroll while another handles invoicing.  Tax and compliance issues may be another person’s area of expertise or there may be an overlap.  There should be someone responsible for compiling those crucial reports into the financial health of the company.

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4 Big Mistakes to Avoid Making with Life Insurance

 

By Morgan International Staff Writers

Once you have life insurance you might imagine that you can rest easy. However, it’s essential to pay attention to the details when buying. Here are four common mistakes that can be easily avoided.

 

Once you’ve bought life insurance you might imagine that you can rest easy knowing that your loved ones will be provided for should the worst come to the worst. However, it’s essential to pay attention to the details when buying to ensure that your policy serves your best interests. Here are four common mistakes that can be easily avoided.

 

  1. Finding that you’ve outlived your policy

 

If you buy a permanent life insurance policy, you’ll generally find that it has a date, based on your age, when it will come to maturity – and with many policies this is when you turn 85. At this point the policy comes to an end and the insurer will make a payout (though this is often modest). Meanwhile, you will be left, at the age of 85, with no life insurance and little to show for it – while buying a new policy may well be extremely expensive. Because of this, it’s important to keep an eye on the maturation date when buying and to carefully consider what is right for you and your family.

 

  1. Invalid insurance

 

If you miss important personal details off your insurance then it may well be invalid. Equally, you may still be able to buy a policy after developing a major condition, but it’s likely to be much more expensive and, depending on the terms, it may only become fully valid a number of years later.

 

  1. Not assigning a beneficiary

 

If you die, your policy will become due and be passed to the individuals named in your will – so you might imagine that there’s no big problem with not having a named beneficiary. However, as part of your estate, the benefits can be pursued by creditors for outstanding debts, before the funds reach your heirs; and the sum may also push you closer to thresholds for inheritance tax. Having designated beneficiaries avoids all this. Equally, should any or all of the beneficiaries die, then make sure to review the paperwork.

 

  1. Not clearly identifying your beneficiaries

 

If your beneficiaries don’t know about the policy or if you provide limited or incorrect contact details, then it may be difficult for the insurer to reach them. Ensure that all your beneficiaries are explicitly named, that contact details are updated and that they all have copies of the policy. Equally, should circumstances change, you may well want to update the list of beneficiaries, removing ex-spouses or adding individuals in the event that others have passed away.

 

To gain more insights into personal finances, take a look at our professional training programmes here. https://www.morganintl.com/cfa/#