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THE PRODUCTIVITY PARADOX - REVISITED Thank you to all of you who commented on last month?s article on managing information systems and their impact on profitability and productivity. It is comforting to know that so many of you share my stress with IT problems and continuing investment.However, our research and analysis on the subject has led us to the conclusion the main problem is with management (that?s us!) and people. As with many small firms we do not have a dedicated IS manager. So to maximise the value from our various computer programs it is imperative that all our management team embrace technology, thoroughly understand what is being inputted, eliminate the unnecessary and recognise what information is available from the system ? and how that can be translated into action. The people issue is more complex. E-mail is a valuable communication tool but we still believe the phone beats e-mail and face-to-face beats the phone. Businesses are sold from one person to another. Salespeople can be ?busy? at their desk in front of their computer screen but are they ?effective?? We are paid to sell businesses. Valuing a Business The 5th Edition (2008) of ?Valuing a Business ? the Analysis and Appraisal of Closely Held Companies? by Shannon Pratt with Alina Niculita is now available in New Zealand (Techbooks - $175). This comprehensive text is expanded, updated, and provides the most comprehensive guide for valuations of small and medium-sized businesses. Business valuation is a growth sector and a dynamic one in New Zealand and overseas. Pratt highlights one of the major advances as ?the quantity, quality, and accessibility of empirical data available to support business valuation conclusions.? There are a number of transaction data bases in the USA including BizComps Pratts Stats, Done Deals, and the IBA Market Database. In New Zealand we have BizStats? with data from over 3,500 actual business sales. A prudent appraiser will always cross-check with available data to ensure a credible and defensible opinion. The business valuation profession has evolved and matured immensely since Pratts? first edition in 1981. This latest ?doorstop? is a worthwhile investment. |
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