The three biggest challenges for SMEs in 2023-2024

Wettbewerbsdruck

The German economy is in recession. And German SMEs are right in the middle of it. In addition to short-term economic causes for the slump, there are also longer-term structural reasons. SMEs are therefore facing growing challenges in the short and medium term that require consistent strategic action. The German Institute for SME Research (Institut … Read more

Indo-German IT Collaboration – Prospects and Challenges

Panel discussion - Hannover 2022

There are strong signals that the collaboration between India and Germany in the IT sector is entering a new phase. So far, the focus has been on German companies hiring Indian IT experts and offshoring IT work to Indian branch offices as well as outsourcing software development and business process management services to Indian firms. … Read more

5 Common Strategic Planning Mistakes SMEs Should Avoid

The experts have been debating the use of strategic planning for some time. Already in the mid-1990s, Canadian management professor Henry Mintzberg questioned the use of a formal strategic planning process in his book “The Rise and Fall of Strategic Planning”. And in view of fast, partly unforeseeable changes, there are good reasons to doubt … Read more

10 Common Business Plan Mistakes and How to Avoid Them

Every company needs an up-to-date business plan. Although this is most obvious for start-ups, it applies to established firms, too. A business plan keeps everyone on track in implementing the company’s strategy and reaching its business goals. There is plenty of information available via books and seminars on how to write a good business plan. … Read more

Face Your Mistakes | Business Lessons from the World Chess Championship Match Carlsen – Karjakin, Part 5

Game 10 of the world chess championship match between Magnus Carlsen and Sergey Karjakin was a tragicomedy of errors. In a slightly better position, Carlsen gave up his advantage through an inaccurate exchange of bishops in move 19. After that, Karjakin missed two opportunities for immediately forcing a draw. In view of his one-point lead … Read more

Managing Risks with Circumspection | Business Lessons from the World Chess Championship Match Carlsen – Karjakin, Part 4

On Monday, 21 November, the world chess championship match between titleholder Magnus Carlsen and his challenger Sergey Karjakin saw the first decided game after seven draws. Game 8 took a dramatic course and ended in a win for Karjakin with the black pieces after 52 moves. The game perfectly illustrates the fourth success principle from … Read more