Recent TRG blog posts

In today’s ‘VUCA’ world—characterised by volatility, uncertainty, complexity and ambiguity— it is becoming harder and harder to get right. As discontinuity becomes the norm and the most established business models come under threat, business leaders may need to adapt their models or develop new ones. How can organisations achieve sustainable success in a constantly changing environment with management accounting?

Read more: Why does your business need an accounting software?

We cannot repudiate the importance of communication. However, there are now some problems in communication in the workplace settings, especially in the digital work environment that we should be aware of and overcome. 

The first simple hotel management system was introduced back in the 1970s, allowing hoteliers to confirm on-site reservations. By the early 1990s, the first database management system was marketed, allowing for digital records, which made accessing information much easier than Excel spreadsheets. Now, the hospitality industry is amidst the "cloud computing boom". The impact of cloud-based solutions is enormous: it revolutionises how the managers run their hotels/restaurants and interact with the customers.

Many organisations nowadays offer some forms of internship and management trainee programs in order to prepare their top trainees for the management positions in the future. Big names like Unilever, Coca-Cola and Amazon are also famous for their Management Trainee (MT) programs. With proper training and development for each individual, the company may be looking at their future leaders when they are still in their “infant stage”.

Shortcomings associated with the traditional budgeting approach can undermine the true value of the process. Budgeting should be less cost-driven and more investment-based, i.e. all forecasted costs of a department should be attached to deliverables—the products and services that department delivers to other departments or to the clients. Doing so will make budget decisions investment decisions.

A digital twin is a virtual replica of a real (physical) object created by the data collected from sensors embedded in that object. The digital twin, therefore, provides a real-time digital representation of the object.

Most companies are fully aware of the importance of graduate recruitment. According to a 2017 report by the Rockefeller Foundation, 97 per cent of the U.S. employers say entry-level jobs are crucial to their success. Yet many do not handle entry-level hiring well.