Switzerland has a reputation for being the home of some of the most prestigious watch manufacturers.
Omega, Tag Heuer and Breitling are just three if the many famous brands of Swiss watches that produce extremely high-quality timepieces.
But things are changing though and there’s a modern-day challenger to their dominance.
That modern-day challenger is Apple.
Last year Apple sold more watched than the entire Swiss watch industry.
A recent report by Strategy Analytics estimated that Apple sold 30.7 million smartwatches last year (an increase of 36% on the 2018 figure).
Estimates for the entire Swiss watch industry showed sales of 21.1 million units last year (a 13% fall on the 2018 figures).
This is a difficult time for the Swiss watch industry as they face a number of challenges.
The younger generation especially are keen on the tech side of watches and these are very much in fashion.
Although some Swiss watch brands such as Swatch and Tissot are launching their own smart watches, their competencies and skills are very much based around the mechanical engineering of watches compared to software engineering which is needed for smart watches.
Another major challenge is their distribution channels and where they are sold.
Swiss watches are typically sold in jewellery shops whereas smart watches such as the Apple watch are sold in phone shops and Apple stores.
Certainly a challenging time for the Swiss watch industry.
Will these Swiss watch brands survive?
Only time will tell…
https://www.theexpgroup.com/wp-content/uploads/2020/04/apple-vs-swiss-watches.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2020-04-26 10:29:362020-04-26 10:31:21Time up for Swiss watches?
I’m not sure where you work or what your office is like but my guess is that it’s not as historic as where you would work if you were successful in applying for this job.
The Royal Family has advertised for a new Management Accountant to look after the “Privy Purse” (the British sovereign’s private income). The job is based at Buckingham Palace.
Candidates for the job need to be qualified and should have “outstanding problem-solving skills”. They will need to produce management information and financial accounts and the advert promises that “no two days will be the same and the deadlines we work to will stretch you. Yet in all that you do, you’ll rise to the challenge and deliver faultless accuracy and a first-class service to this unique organisation”.
It’s not just a solid knowledge of figures that they require as the advert goes on to say that candidates need to demonstrate that they are “as good with people as you are with numbers, which is crucial given the customer focussed nature of this role”.
Now let’s get down to the exciting part and how much are they prepared to pay for this position?
According to leading recruiter Robert Half, the average salary for a Management Accountant in London is currently £58,100.
The salary that is being offered for the Royal job is £40,000.
https://www.theexpgroup.com/wp-content/uploads/2020/03/queens-accountant.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2020-02-24 18:04:002020-03-04 21:01:03Fancy working for the Queen?
Over 1 billion consumers are forecast to use cashless payment methods in 2020. Contactless cards and smartphone payments can make payments very easy for an individual and for the retailer it avoids security issues dealing with cash.
A number of shops are moving to “cashless” shops where all the payments have to be made by contactless cards or smartphone apps such as Apple Pay.
Not everyone is happy though as to make a cashless payment you need one important thing.
Namely, a bank account.
Globally, 1.7 billion adults do not have a bank account and whilst you may be thinking that these people without bank accounts are in the emerging markets around the world, that’s not always the case.
New York City, is one of the most famous cities in the world.
According to a recent report by the New York City Department of Consumer and Worker Protection (DCWP), 354,100 households (11.2 percent) have no bank account (unbanked) and another 689,000 households (21.8 percent) have a bank account but use alternative financial products for some banking needs (underbanked).
In other words, 33% of the New York City households are either unbanked or underbanked.
That’s a pretty big proportion and as a result, the New York City Council has voted to require shops and restaurants to accept cash for payments of USD 20 or less.
The law is expected to be in place by the end of 2020.
New York won’t be the first city in the States to ban cashless stores as last year Philadelphia and San Francisco banned them.
Whilst several retail organisations have appeared to be championing cashless shops it’s looking like it won’t be possible in a number of locations around the world.
These organisations may be initially frustrated at being prevented from being cashless but in reality, this isn’t necessarily a bad thing. As well as the ethical debate about refusing to accept people who can only pay in cash, if they did go cashless they would be missing out on a significant part of the population who want to spend their cash, albeit “cash” and not “cashless cash”.
https://www.theexpgroup.com/wp-content/uploads/2020/02/cashless-shopping.png506900Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2020-02-07 17:44:432020-02-07 17:44:44Cashless or cash?
A lot of you may have been on business trips but I bet your trip wasn’t as exciting (and tragic) as this gentlemen’s trip was.
What was also surprising was that his employer was found liable for his death as it was classified as an industrial accident.
The exact cause of death was a cardiac arrest whilst he was having sex with a stranger he had met on the business trip.
Now, whilst having a heart attack during sex with a stranger probably wouldn’t meet most people’s definition of an “industrial accident” a French court found otherwise. The court stated that the employer was responsible for any accident occurring during a business trip and ruled that his family were entitled to compensation.
The man who died on the job, named as Xavier X, was working as an engineer for TSO, a railway services company based near Paris and his employer had perhaps quite reasonably argued that he was not carrying out professional duties when he got into an extra marital relationship with a total stranger in his hotel room.
This opinion though wasn’t accepted by the court and they upheld the view that sexual activity was normal, “like taking a shower or a meal”.
As a result of it being classified as a normal activity on a business trip, the death was considered to be an industrial accident and under French law, partners or children of industrial accident victims receive up to 80 per cent of their salary until what would have been the person’s retirement age, with pension contributions paid from then on.
One of the five fundamental ethical principles is Integrity.
Being straightforward and honest is a vital characteristic of being a professional accountant.
Most people who are studying for their professional exams have one thing on their mind. Namely, to pass their exams but four students who were studying for their ACCA exams had other things on their minds and at the same time, were not the brightest individuals out there.
What they planned to do was to register for some Computer Based Exams (CBEs) and then whilst sitting the exams they would use their mobile phones to take photos of the computer screen showing the questions. They would then sell these photos with the questions on them via the internet.
The four individuals involved, Chen Yiyun, Hiujiao Ru, Zehui Gong and Ziying Wang decided to sell the questions on Taobao Marketplace, a Chinese shopping website.
They no doubt thought that this was an extremely clever way of making some money. What could possibly go wrong by taking photos of the questions and then selling them online?
One of the other fundamental ethical principles is that of Professional Competence.
Now, if these individuals had even a minuscule amount of Professional Competence, they would have reviewed the photos before selling them.
Alas for them they didn’t review them.
If they had reviewed them, they would have seen at the top of the computer screen in the photos their ACCA student registration number and the exam centre.
ACCA were made aware of the questions being for sale and made a test purchase on the Taobao Marketplace. Given the student registration numbers were on the screen, they didn’t need a team of top detectives to identify the individuals involved.
Unsurprisingly, the four individuals are now ex-students of ACCA having been found guilty of misconduct and they were ordered to pay costs ranging from £3,500 to £7,000.
https://www.theexpgroup.com/wp-content/uploads/2019/11/ACCA-exam-cheating.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-11-28 22:38:372019-11-28 22:38:38Exams for sale….
The accountants amongst you will be well aware of the different methods of setting the price of a product or service.
Going rate, cost-plus and perceived value are all fairly common but what about basing the price of your service on the size of ocean waves?
This month, Alaska Airlines have segmented the market nicely and are targeting surfers by offering discounts on flights to Hawaii. These discounts are based on the forecast size of the waves which they hope the surfers will soon be surfing.
They have teamed up with surfline.com who forecast the size of the waves and the higher the forecast waves, the higher the discount.
The discounts start off at 10% for waves up to 10ft (3m) and go to a maximum of 30% for waves above 21ft (6.4m)
All in all, a nice way to target surfers
https://www.theexpgroup.com/wp-content/uploads/2019/11/unusual-pricing.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-11-14 21:12:362019-11-08 21:28:14Wave hello to a discount
Until recently, Steve Easterbrook was the boss of McDonalds. He had been with them for a long time having started working for them back in 1993 as a manager in London.
Mr Easterbrook no doubt had a lot of affection for the
company he ran but it turned out that he also had a lot of affection for a
colleague as he had started dating a lady who also worked for McDonalds.
Although the relationship with his colleague was consensual,
it didn’t go down too well with McDonalds.
According to the company, Mr Easterbrook had “violated company
policy” and shown “poor judgement” (by “poor judgement” I assume that refers to
him having the relationship rather than the choice of who he had the
Now, whilst some people may say that it was a consensual relationship
between two adults so let them get on with it, the key thing here is that it
was against company policy and the two people involved had agreed to the
company policy when they joined the firm so it’s a straight forward case of a
breach of that policy.
More and more companies are having either outright bans on
any relationships or are requiring individuals to disclose any relationships (I’m
not a legal expert here but it does raise some interesting questions as to what
is the definition of a relationship and how quickly after reaching that definition
you need to notify your employer – is it minutes, hours, days…).
Mr Easterbrook won’t be short of funds to carry on wining
and dining his new love as the termination package is pretty significant. He
earned nearly $16m last year and will receive 26 weeks of pay on his departure.
Bloomberg estimate that his total leaving package which includes
previously granted shares will be in excess of $37m.
That should buy a few romantic meals at Burger King for the
two love birds.
https://www.theexpgroup.com/wp-content/uploads/2019/11/McDonalds-boss-1.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-11-07 22:47:402019-11-29 13:34:10You can’t McFlurry Love
Whilst a lot of you won’t admit to being lazy (and I’m sure most of you aren’t in fact lazy!), some of you will know somebody who you feel is lazy.
Is it such a bad thing to be lazy though?
Perhaps not, as according to a study by scientists from Florida Gulf Coast University laziness could correlate with high intelligence.
The study found that people with a high IQ rarely got bored. As a result, they spent more time lost in thought. On the other hand, the study suggested that less intelligent people were more likely to be prone to boredom and consequently were more likely to do more physical activity.
The researchers worked with 2 types of students. The first group expressed a strong desire to think a lot whilst the second group were keen to avoid doing things which were mentally taxing.
The participants were then fitted with fitness trackers which monitored how much they exercised over a 7 day period. The study found that people who thought a lot were much less active than those individuals who avoided high-level thinking. Interestingly, this discrepancy in levels of activity only happened during the week and there was no difference during the weekend.
Before any of the lazy people out there start claiming that they are more intelligent, it’s worth noting that the sample size of the test was small and further tests will be needed to prove the correlation.
https://www.theexpgroup.com/wp-content/uploads/2016/11/lazy-in-the-office.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-10-30 22:53:222019-10-26 21:21:32Laziness and intelligence.
Most people enjoy it when the weather gets warmer. Sunny weather often makes people happier but some recent research indicates that a heatwave may not be good news if you’re taking an exam.
Researchers from Harvard Chan School of Public Health found that students who were exposed to hotter temperatures did significantly less well in cognitive tests than those students who lived in a temperature-controlled environment.
The research involved a group of students who had already been allocated accommodation on campus. Half of the rooms had air conditioning and half didn’t.
The students were followed during a 5-day heatwave where temperatures exceeded 26C.
Before, during and after the heatwave, the students had to perform a number of cognitive tests which measured the speed they processed matters as well as their working memory. The results showed that the scores of these students in the hotter accommodation fell by 13% compared to their colleagues in the air-conditioned temperature stable environment.
The researchers said that it was not clear what was behind the drop in performance during an increase in temperature. It could have been because the brain was working harder on maintaining critical body functions such as thermoregulation or it could have been due to a poorer quality of sleep due to the heat.
Either way, let’s hope it’s not a heatwave the next time you sit an exam…
https://www.theexpgroup.com/wp-content/uploads/2018/11/stressing-over-exams.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-10-23 22:02:432019-10-26 21:19:38Don’t sweat your exams
Picture the scene. You’ve got an important business lunch coming up. You want to make a good impression on the person you are meeting with. What should you eat for lunch?
A recent study published in the Journal of Consumer Psychology has some interesting findings which indicate that if you have an important business lunch, there are various benefits to ordering the same food as the person you are trying to impress.
Scientists from the University of Chicago studied nearly 500 people to identify whether eating the same food helped them agree in negotiations.
The researcher’s conclusion was that people who are served the same food are more likely to trust each other, smooth out problems and make deals.
As part of the study, participants in the research were told to imagine they were “investors” who had to decide whether to invest in funds operated by their “fund manager” eating partners. The researchers found that those people who were served similar food invested more money.
Another interesting finding in the study was the link between food consumption and the effectiveness of advertising. The authors said that “consumers are more trusting of information about non-food products – e.g. a software product – when the advertiser in the product testimonial eats similar food to them”.
Back to the business lunch though and although the research found that there are benefits to ordering the same food as the person you are trying to impress, I’m not sure that if you’re wearing a nice clean white shirt to the lunch meeting you should necessarily follow the other person in ordering that “tricky to eat tidily spaghetti with the sloppy tomato sauce”…
https://www.theexpgroup.com/wp-content/uploads/2018/10/business-lunch.png9441678Stevehttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve2019-10-14 07:00:432019-10-08 21:45:02How to impress over a business lunch…
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