TODAY IS NOT WEDNESDAY – ITS WORLD HAPPINESS DAY
March 20 is the International Day of Happiness and this year’s theme is Happier Together, focusing on what we have in common, rather than what divides us.
Everyone wants to be happy – and life is happier when we’re together. So let’s celebrate our common humanity. Join the community and be part of this special day.
Source : Dayofhappiness
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Tax Alert: 2018 Midyear Budget Review
Reference to the proposed tax amendments announced during the 2018 Midyear Budget Review, we write to notify our valuable Customers that the changes will be effected in our various Software Solutions after the release of the relevant Legislative Instrument (LI).
New Tax files and system tax updates will be released as soon as the LI is approved by the Parliament of the Republic of Ghana.
Below is a snippet of the proposed changes for your information. ‘
Multisoft Payroll Outsourcing Services
As an outsourcing service provider, we offer advanced Payroll Outsourcing services integrated with e-payslips and employee self service that allows 24/7 online access to your employee data from any internet enabled device.
Make the decision now and outsource your payroll to us.
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TODAY IS NOT WEDNESDAY – IT IS NELSON MANDELA INTERNATIONAL DAY
Nelson Mandela International Day is an annual international day in honor of Nelson Mandela, celebrated each year on 18 July, Mandela’s birthday. Nelson Mandela International Day 2018 marks 100 years since the birth of Nelson Mandela (18 July 1918). The Centenary is an occasion to reflect on his life …
Won’t you rather join Multisoft Solutions’ Practical Accounting Training to enhance your accounting knowledge and skills necessary for your deliverables on the job just as Nelson Mandela saw himself first and foremost as a servant of South Africa’s people, to whom he felt he owed a duty, and who he led by example.
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You Can’t Survive without Networking & Collaboration
The conduct of business is becoming more complex year after year. This is certainly because the world is increasingly becoming a global village and only a handful of businesses have not yet been affected by the changing dynamics of the business environment.
Even with the few who are yet to be affected, one can make a right prediction that their days are numbered. Strictly, at the business or institutional level, it is paramount to note that competition is no longer just local. For example, products from different parts of the world are found in supermarkets and homes all over the world. These phenomena are very well complemented by the availability of affordable internet enabled devices.
In certain jurisdictions, nations are continuing, advising and encouraging the patronage of local goods and services. Obviously, there may be some clear intentions to achieve some specific national objectives which may seem very good. However, having established that the world has become a global village, to what extent can one be advised or encouraged to patronize local content-goods and services?
Experts are of the view that collaboration and networking is the winning approach. This can be practiced at the national, business as well as at the individual level. But at the business front, what does collaboration mean?
In a few words, let us try to understand collaboration and further suggest factors that are warranting collaboration in business. Collaboration in business is seen as cooperation and sometimes partnerships. During high school days, one can reflect on some practices to bring home further meaning of collaboration. At school, one may be good at mathematics, another in the sciences, the other in economics, etc. in most cases, students who want to excel in almost all subjects formed study groups and individual’s specific weaknesses in some subjects are catered for by the strengths of others in the group. Otherwise, one can have absolute excellence in a subject and fail woefully in the other or others.
At the business front, especially in these times of strong competition, failing to engage in collaborations and partnerships when and where necessary can result in a story which is told of several crabs put in a basin without a lid. No one gets to the top. Any crab that tries to escape, perhaps to a desired state is being pulled down by the other.
The challenges confronting businesses operating in a global village are too complex for any one business to overcome. Most do not have the appropriate resources, capabilities and capacities to handle the present, let alone the future demands on them. Generally, people and firms will desire to go alone. However, current happens and expectations will sometimes dictate to us to collaborate.
“It is believed that the Japanese win so many global tenders at good prices because they generally organize a consortium and then submit a single quotation”
One up-manship may be good, but usually the goodness of it is short-lived whereas teamwork and collaboration wins everywhere and at almost every time. In the Ghanaian business environment one can think of viable business that faced-out after the demise of the owners who were running such businesses all by themselves.
Let us now examine some critical instances that will always call for collaboration so that when you are at that crossroad as a business, you can easily take the part of collaboration or a search for one.
To begin with, collaboration becomes important when resources are inadequate. These resources can be money, men and materials. Beyond the money, men and materials, appropriate technologies, expertise and other capacities could also represent some resources that a business may need to be able to satisfy a certain desire. Not having these resources is certainly not a recipe to fold up or continue to produce at current or previous levels especially when that level dissatisfies customers. That sometimes could be dangerous in today’s competitive world of business. In that state of resource inadequacy, a prudent decision among others, will be to find out who has a specific strength to partner with to be able to deliver.
Most giant businesses have sections of their activities given to other businesses. In the payroll outsourcing industry, owing to the heavy investment required in the form of tax knowledge, servers, internet and backup infrastructure, companies mostly an internet service provider (ISP), accounting/tax firm and a software house collaborate to deliver top end services. One may have the server and internet gateway for undertaking the actual calculation and delivery of the reports whereas the others comes with knowledge of local taxes and report customization expertise. When each gets a job, it is accepted and then passed on to the pool, in so doing the customer gets the best from the best and at the best price.
Finally, cooperation will only succeed when there is obvious synergy and perhaps no – competition between collaborators. Members of the pool irrespective of whether they initiated the contact or not, still retain compensation for their efforts.
Today’s business dispensation will belong to firms who will desire to embark on appropriate networking and collaboration. Networking therefore becomes an inevitable component of collaboration, especially on the part of service delivery business, but can also be considered in almost every line of business.
The days of the lone ranger are gradually ending, to succeed in the global village, entities, whether business or individuals require collaborations based on their competitive advantages.
Wouldn’t you rather be more Competitive in your Profession?
To remain relevant, we must adapt to change and stay abreast with it. Change has and will always be with us, this is a fact which cannot be disputed. That is why we introduce the Multisoft PAT Program.
“There are three things that are certain in life: death, taxes and change. You can’t avoid change, it’s mandatory, progress however is optional”
While everyone accepts this, most do little to stay updated. It is important to realize that in today’s competitive world, one of the important tools to realize our dreams and objectives is staying updated with where, how and when to get things done.
Yes, you were probably the best student in the Accounting class at graduation some ten years ago or you were one of the best chartered accountants in the early 90s. You can still be that good today only if you keep updating yourself with knowledge relevant to the current period. Otherwise, you are a ‘yesterday’ winner but certainly not today. Today may belong to someone else. It is very clear and important to consider that, he who is on top in his chosen field today risks losing his “championship’ belt if he ignores the acquisition of relevant information, skills and knowledge that will warrant his continued stay at the top.
Now, let’s consider a bit of detail on what it takes to remain relevant.
Without many words, remaining relevant means having relevant skills, ability, material, tools, knowledge and wisdom to assume and complete today’s task.
It could also mean knowing how best to apply the acquired skills, ability, material, tools knowledge in the conduct of today’s social and business responsibilities. This is important because the tools, skills, knowledge etc., are important but the ultimate is “using “them in a much efficient manner. This means removing the less efficient process and replacing them with more efficient one’s on a daily basis.
Some have been slow in adapting to change and have become victims of change. In most cases, the desire to adapt to change is often inhibited by time, pride and status amongst others.
From the perspective of time, it is obvious that the higher you go ,the busier you get, the less time you have to read ,to attend courses, to embark on educational tours, to interact with peers ,to attend seminars ,conferences and conventions . The unavailability of time reduces the avenues and opportunities to get to know new things and thus speeds up the process of becoming obsolete.
Another notable reason is pride. This may be considered very unfortunate, reason being that it is preventable. Pride makes you feel that you know everything and that there is absolutely nothing new to learn.
A look at our business environment reveals some unfortunate practices which are obviously, the result of pride .For example, a sales supervisor organizes sales related seminar for sales officers, but he [the sales supervisor] will not attend. Similarly, the sales manager would also put together a programme for keeping sales supervisors updated but the sales manager will not show up at the programme. Sometimes if they do put up an appearance, it will only be at lunch time or at the end of the program. It follows through up to the top. Ask them why they will not sit in the presentation and this is likely to be their response “it is a program for my team”.
Finally there is also an issue of status .Some strongly believe that it does not really matter what one learns. To them, it is about where the program will happen and the class of people who will be sitting with them for that seminar or presentation .Like the issue of pride, the status consideration at all times is equally unfortunate.
Many of today’s young workers will throw in issues such as inadequate resources to embark on continuous professional development. You will find the same people finding other excuses to ignore, if such functions are sponsored or financed by their organization.
No matter your good reason for failing to embark on actions to keep you in time, continuous professional development is a strong winning tool and must be embarked upon by all of us. You learn alot through the Multisoft PAT Program. Perhaps, enough of your past winning glories. Let us now focus on how to be equally better for today’s assignments as well as those assignments to come in the years ahead .In many little ways ,we can learn to update ourselves –seemingly little but actually very important .Consider your time at college as an opportunity to know how to learn. Now that you are out of the college, you can do more learning in whichever means available.
Join us in our monthly PAT Programme and learn new tools and concepts relevant to today’s business It is said that, the world now does not need LEARNT professors and professional, we rather need LEARNING ones.
Do you want to be a successful CEO?
The pyramid of the management hierarchy will project the C.E.O, also known in other jurisdictions as the Managing Director (MD) at the top. The top is usually viewed as a much privileged and pleasant position. The aspiration of many middle management personalities is to get to the top to enjoy maximum satisfaction, power, better remuneration etc.
Whereas that may represent both a perception and reality, it is absolutely important to note that becoming a number one in any human institution is also a heavy responsibility. The C.E.O whilst enjoying power and privileges is at the same time the trustee of all resources involved – men, money and materials. The C.E.O becomes the steward of these resources at defined period ends.
Yes, it is an opportunity and pleasure to make the appointment but the devastating effect of such appointment becomes a burden of the C.E.O. Can a C.E.O disassociate himself from any wrongdoing or any unfortunate occurrence of an institution? The answer has and will in most cases remain “NO” even if such occurrences are seen as the act of God, the C.E.O is expected to have taught of mitigative measures and even if there are, questions are asked as to whether such measures were adequate.
The Power Factor
The C.E.O consciously or unconsciously influences the entire institution because he casts a deep shadow of the institution. A company may have 1000 people working for it and the C.E.O may not even know 100 of them personally. However, every single action and behaviour by every worker becomes a responsibility of the C.E.O.
In public circles, we have had instances where heads of ministries and departments have been summoned to answer questions on perceived unpleasant dealings even when such acts were known to have been perpetuated by lower personnel of such institutions.
The Best Way to Go
I am sure any aspiring C.E.O at this juncture of our conversation may be wondering whether to drop or keep that aspiration. So long as you are not just being favoured or forced to become the C.E.O, keep to that aspiration because not being favoured or forced may mean that you are aspiring by developing relevant capacities by gathering relevant experiences and intellectual abilities to accept the opportunity and the associated deep responsibilities when they com.
On the other hand, being favoured or forced unnecessarily may have devastating effects. It is said that “nothing gets done out of nothing”. Everything is done out of something. Let us consider a few basic issues that make the C.E.O.
As established earlier, the successful CEO is not the occupying of a space or position. It should rather be seen as the handling of the overall responsibility whether directly or indirectly of the institution. Here, the C.E.O must fully understand the concept of the organization and if it is a typical business entity, be abreast of the technical and operational units of the business aside from his adequate competency in the management of the “man, money and materials of the institution.
Secondly, a C.E.O of any level-large, medium or small sized institution must have a certain vision. Then, he must consider it important enough to share that vision with those he works with through effective and absolutely simple communication. Relevant information must be shared by all as and when it is expected. At the implementation of such vision, the C.E.O must make hard and difficult decisions that may be associated with the vision implementation process even if that may result in hatred and criticisms.
The C.E.O must also learn to be very humble. No single individual can command all wisdom, it should not be difficult for a C.E.O to say “I do not know” when appropriate then, go and find the right responses through appropriate consultations. Humility is a resource to a C.E.O and the C.E.O should be able to rely on that (humility) to say I am sorry when he errs or when any part of the institution does not go as desired by interested stakeholders.
Our current business environment makes some unfortunate revelations on the business of being a C.E.O. The desire and the advocacy to establish businesses and enterprises have led to having many C.E.Os. From our conversation, a C.E.O must carefully be “baked”. Can that be the case for a new graduate who has established a business and by that mere establishment makes him the C.E.O The idea and investment may be important but the implementation of the idea into sustainable business becomes a greater responsibility?
What is recommended in this situation is that the establisher of the institution relinquishes that C.E.O position to a much experienced and knowledgeable person for a considerable period of time? During which period, the establisher/owner of the institution will gather adequate capabilities and experiences to take over. Alternatively, one can also be humble enough to make submissions to mentors and consultants in the industry. Failing to do any of these may either slow the growth of the business or sometimes deprives of any growth and the result, collapse and loss of investment. Fortunately, the management aspect of the job of the CEO is being complemented by the presence of tools of information communication technology. Areas of management such as evaluation and assessment, monitoring etc. are done much easier these are reliefs which were not available to CEOs decades ago.
In conclusion, it must be clearly noted that the job of a C.E.O is not for everyone. A school of thought has it that, for some people and professions, by their training and resulted thinking, the job of C.E.O may not be appropriate for them because the fair balance of the management of the men, money and materials may not come easily to them.
To be a successful CEO, it needs the ability to be the goldfish in a bowl. It is certainly not a mere occupation but strictly a vocation. This vocation calls for being able to have independent thoughts without losing the ability to listen to others. The C.E.O is strictly thinking and acting job at different times. When situations are pleasant and things are generally going very well, the C.E.O needs to think, think and think. When things are going bad, the C.E.O needs to evoke all senses to act and act and act.
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Have you ever heard of workplace politics and productivity? At any time that individuals or perhaps groups interact or work together, there is and will always be a common phenomenon. There has been and will continue to be what is known as concordant and those who will also discord. Call it the “attractors and repellents” . This is certain because there will always be likes and dislikes.
These occurrences are usually fueled very little by nature but more by personal interests and motives. Unfortunately, people are assembled to put forces together to promote productivity but rather, by their actions of politics, productivity which is the result of their togetherness suffers. It has been established that politics in institution cannot be eliminated. So the only available antidote is to manage. Politics is not confined to the area of “politics” where nation’s president and other leaders are elected. It is everywhere and in fact much stronger in typical business set-ups.
“Remember, it is earlier stated that the only way available to deal with politics is to manage it.”
Let us now do some reflections on identifying occurrences that give rise to workplace politics and productivity because knowing the problem makes it easier to find solutions.
At the business front, one must first of all come to terms with the fact that politics or some amount of it is present. To believe differently means that you are deliberately being unrealistic. Also, it is important to know dreams, desires, ambitions etc of your work especially if you are the leader and therefore, among other key responsibilities, tasked to manage the politics. Often times, our carrier are not only centered on what we are capable of doing or have done but also largely on chances, opportunities that rise, sometimes power struggles as well as the styles, understandings and philosophies of our work mates.
Perhaps, useful information may be to know and understand yourself in the area of your style and approach to deal with issues as a leader, your unique strengths and weaknesses.
For young executives who have strong carrier aspirations, strong politics at the workplace is a hindrance in many ways. Therefore getting yourselves armed with information to assess whether there is a strong politics at the workplace or an indication of a possible one is very important.
Let us now learn to know some of the possible factors that are fast triggering politics at our workplace.
To start with, it is important to note that, when there is no clear performance evaluation system, workplace politics is being nursed and soon there will be one if there is none already in existence. In that situation, it is likely that merit may go to those who do not deserve. This may mean that, those who run personal errands for bosses, receive their bosses and drive them home from the airports, give gifts etc. are those who are likely to be rewarded irrespective of their performance on their mandated tasks on the job.
The quality of the leader of business or at the workplace also has something to do with creation of workplace politics. At the workplace, the leader consciously or unconsciously casts a deep shadow on the organization – his actions and attitudes are usually seen as the actions and attitudes of the organization. You may have a leader who is intellectually sound and commands a high level of integrity. With that leader, he is a strong motivation to the entire workers of the organization. On the hand, where the leader is weak by the lack of intelligence and integrity, he may be ignorant, take decisions not based on facts but rather how he feels, selfish and will often have short term visions of things. Under such a leader’s regime, no questions are asked and there is also no need for answers. In the process hatred and discomfort breeds, strong politics is created and little attention is given to real work and meaningful contributions.
Let us also discuss another avenue that gives room to workplace politics. It has to do with the employee/employer selection system. Many businesses do not pay sufficient attention to the selection system at the point of entry. This usually leads to the recruitment of workers who may not have the necessary knowledge and skills to execute workplace responsibilities. It even get worrying when people with wrong attitudes are selected.
Often people with wrong attitudes as well as those who are not competent know that they are undeserving and then resort to perpetuate politics and gossips. They also know that to be able to survive, they must attack those who have the capacity. This eventually brings about factions.
To conclude, it must be noted again that workplace politics has never been a blessing to any organization. It denies the organization of deserving levels of productivity. All relevant tools and strategies must be employed to help deal with it. Perhaps, the good news to today’s manager is that there is a wide range of solutions from Information Communication Technology. Companies are drastically reducing human interference and interactions because softwares are aiding routine activities. The effect socially is perhaps unemployment but the business primarily objective of profit maximization will not be compromised.
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