company - Blog - Global Risk Community2024-03-28T23:20:58Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/companyGrowing Popularity of Contact Center Transformation and Futurehttps://globalriskcommunity.com/profiles/blogs/growing-popularity-of-contact-center-transformation-and-future2020-08-17T10:33:26.000Z2020-08-17T10:33:26.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>In the modern era, contact center services have a growing and important significance in the world economy. Companies that provide customer services have always been in constant strife to respond to ever-changing and ever-growing needs and demands of the customers. During such a competitive scenario, <a href="https://www.kbvresearch.com/contact-center-transformation-market/">contact centers</a> come to the rescue by responding to modern days’ challenges and complexities of providing customers with pleasant experience.</p><p><a href="{{#staticFileLink}}8028328478,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028328478,original{{/staticFileLink}}" class="align-center" alt="8028328478?profile=original" /></a></p><p></p><p>The industry of contact center has seen a transition phase from rudimentary voice calls to multi-channel interactions and from random to analytics-based quality management systems. Recent contact center transformation is changing the way customers feel and experience with a particular organization.</p><p></p><p>Let us dig more into the concept of the contact center.</p><p></p><h2><strong>What is the Contact Center?</strong></h2><p>Each time, an interaction happens when there is contact between a customer or user and the company. The contact center deals in both inbound and outbound interactions with the existing and new customers. Interactions that are started by outside users requesting for some services to the centers are called inbound Interactions, whereas interactions which are started from within a contact center are known as outbound Interactions.</p><p></p><p><em>Call centers lead to contact centers due to the use of innovative and modern channels such as chat, e-mail, fax, and short message, etc.</em></p><p></p><p>The concept of call centers transforms into the concept of contact centers. In the 1980s, the notion of call centers appeared for the first time. A call center constitutes a set of resources that ensure and deliver the services via the telephone. Mostly, resources include people who are the agents or customer service representatives that handle calls. They interact with the consumers or customers of the services which are provided by an organization using certain tools.</p><p></p><h2><strong>Contact Centers offer Numerous Benefits</strong></h2><p></p><p>There are many advantageous properties of Contact centers. Some of them are listed below:</p><p></p><p>Smart Phones Access: As Smartphone devices and mobile apps are growing in rapid numbers, many customers request and demand access to customer service through these channels. Hence, it becomes all-important to integrate these mobile phones with existing call-centers capacities. And we know that is what the modern contact centers do. The customer service representatives of contact centers are provided with the tools that help them to gain real-time contextual information. </p><p></p><p>Companies that are unable to provide interactive and web-based customer service will have to endure low revenue and fewer customers. These devices provide agents with real-time information such as profile information, customer location and service history, etc.</p><p></p><p>Advanced Technology and Analytics:<strong> </strong>Modern-day contact centers reflect various technological advances that are changing the ways in which companies and their customers connect, interact, and respond. </p><p></p><p>Today’s Contact centers make use of the latest technological tools that could scan and examine massive amounts of unorganized data. Moreover, these tools could help contact centers in gaining crucial insights from the customers. </p><p>Virtual Contact Centers:<strong> </strong>The aim of today’s contact center is to eliminate the need to have all customer service specialists in one physical area – instead of combining different agents at different locations into a single virtual element.</p><p></p><p>Modern contact centers use SIP which is another name for voice-over-internet-protocol system to reduce complexity and cost. Additionally, SIP helps in better customer experience and satisfaction by ensuring that not only the agent but anyone in the organization can interact with the customer.</p><p></p><p>Social Media Capacities:<strong> </strong>Due to the exploding growth of social media, it is an exceptional way to gain an understanding of customer’s needs, demands, and behavior. Social media is a way to enhance customer experience and satisfaction. For instance, organizations connect their social networks to Facebook/LinkedIn profiles of the customers to get deep insights when customers call the contact center. </p><p></p><p>Emerging contact centers are equipped with capabilities and access that are needed to solve issues emerging from social media channels. Comparatively, younger customers want organizations to answer their issues through different channels like Web and social media more than older customers. There is a strong appeal for these social media channels among the young generations.</p><p></p><h2><strong>Reasons Why Contact Center Transformation is Gaining Attraction</strong></h2><p>Digital advancement is one of the latest trends in the modern era. The meaningful digital transformation coupled with the understanding of customers' needs, makes sure that organizations can flourish and compete in today’s digital economy that covers everything from processes to systems. </p><p></p><p>The latest trends show that most of the companies that provide customer services are involved in some kind of contact center digital transformation. </p><p></p><p>It is believed that contact center transformation can change interactions with customers by:</p><p></p><ol><li>Providing quick, solid, and precise client data across the channels.</li><li>Improve fulfillment in customers and hence manufacture solid brand faithfulness.</li><li>Giving customers with regular and enhanced experience across the channels.</li><li>Decreasing the cost of operations.</li><li>Reducing the contact centers' complexities.</li></ol><h2><strong>Opportunities in the Future</strong></h2><p>If contact centers want to thrive in the modern competitive world, they must equip themselves with new vigorous technologies that can help them in extending their businesses by reaching out to a large number of customers. </p><p></p><p>There is a revolution in contact centers from primary call center operations to a multi-channel unit for handling the management of customer relationships. The present contact centers deal with inbound and outbound calls, Web requests, e-mail, and chat with global customers and over numerous business verticals.</p><p></p><p>The operation and structure of contact centers have to evolve to meet new challenges. Contact centers have huge potential to receive more attraction in the years to come.</p><p></p><p>In the coming years, Contact centers must address the ever-changing and ever-growing preferences and demands of customers and the need for multi-channel consistency.</p><p></p><p>Now we have to wait to see how contact center transformation will continue to evolve in the years to come to serve the customers with optimum satisfaction.</p><p></p><h2><strong>Bottom Line</strong></h2><p>The contact center transformation Market is seeing a rapid growth due to its adoption of the latest technological advancements. Moreover, Contact centers also understand and cater to the needs of modern and young customers. The aim of any contact centers should be to provide a steady, top-notch customer involvement with each touch point and paying little attention to how and where a client decides to interact with the organization.</p><p></p><p>Now, companies are increasing their focus on customer retention by understanding the needs and behavior of customers. As customer services go beyond voice calls to other digital communication channels that include web chat, e-mail, and social media, in such a scenario, agencies and organizations that are involved in contact centers must explore and find ways that could make for customers to find answers and resolve the problems.</p></div>3 Major Trends That Build the Future of Home Theatre and Audiohttps://globalriskcommunity.com/profiles/blogs/3-major-trends-that-build-the-future-of-home-theatre-and-audio2019-11-26T13:44:36.000Z2019-11-26T13:44:36.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>One of the most exciting things in general about home theatre and audio is that it always evolves. Back in the 1980s, when the home theatre was introduced, Laserdisc was the best technology available to consumers with two channels of audio. The technology is continually being moved forward into new areas these days with 4K Ultra HD content and receivers that can accommodate up to 13.2 channels with Dolby Atmos. Companies are always striving to stay on top of the existing trends and also look to the future for anticipating the big picture.</p><h2>What is the home theatre?</h2><p><strong><a href="https://www.kbvresearch.com/home-theatre-market/">Home theatre</a></strong> is defined as a setup in homes, of audio and video equipment that emulates the experience of a cinema theatre. In general, a good home theatre setup can be more impressive than several small multiplex cinema screens. A home theatre device is a mix of electronic components designed to replicate the experience of watching a movie.</p><p></p><p><a href="{{#staticFileLink}}8028309079,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028309079,original{{/staticFileLink}}" class="align-full" alt="8028309079?profile=original" /></a></p><p>You're more immersed in the experience when you watch a film on a home theatre system as compared to when you watch it on an ordinary television. Home theatre systems are home audio-visual entertainment technologies that seek to reproduce a film theatre experience and mood. This is done using consumer electronic video and audio equipment that is set up in a private homeroom or backyard.</p><h2>Trends for the Future of Home Theatre</h2><ol><li><strong>Simpler Voice Control</strong></li></ol><p>For smart speakers and many TVs now offering voice control for protocols like Amazon Alexa and Google Assistant, this is well underway and it is also starting to spread to some A/V receivers. For now, however, you can only use a device activated by Alexa or Google Assistant to talk to and control the receiver. But it's only a matter of a few years before these technologies start getting integrated into the receivers themselves.</p><p>Devices like Alexa can be used to control systems, and be connected with up to at least eight devices, via voice command. But setting up is a bit of a hassle and it works through IR signals so it needs to be a line of sight. But you will be able to use voice control one day in the future with phones that are all connected to your WiFi network. All fully integrated into one device with each piece linked to each other via WiFi, that's some really powerful tech.</p><ol start="2"><li><strong>Multiple Screens</strong></li></ol><p>More people are adding additional screens in a home theatre or media room. This is particularly true for sports fanatics, who want to be able to watch more than one live event at a time, making the idea of a screen-inundated sports bar obsolete. It's kind of a parallel version of what's happening with larger speaker systems enabled by Atmos, but with the key distinction being that multiple screens will give people the ability to consume multiple media offering at once.</p><p>There are already A/V receivers out there that simultaneously allow output to two monitors via HDMI, it will be interesting to see if this trend is becoming sufficiently common to see three or even more outputs on new models. It's not going to be for everyone to turn a living room into mission control, but as display tech becomes cheaper and cheaper, we can certainly see more than one screen becoming more prevalent in a room.</p><ol start="3"><li><strong>Bigger, Better Bluetooth Speakers</strong></li></ol><p>Streaming continues to dominate the way people listen to music on the strictly audio side of things. Because of this, Bluetooth speakers are becoming a very common method of listening conveniently and with minimal hardware to these audio streams. Such Bluetooth speakers have not been of very high quality in the past, and often it seemed that "better than your phone" is the only real bar to be reached.</p><p>But this is changing rapidly, with more speakers offering better performance levels. In addition to Portable speakers offering increased sound quality, another emerging trend is larger form factor products that can deliver higher-decibel-level sound and greater bass extension. Since Bluetooth speakers will continue to be used by larger numbers of people and in a broader variety of environments, it is likely that the trend towards speakers with larger drivers and even three-way setups will continue.</p><p></p><p><strong>Click Here For Free Insights:</strong> <a href="https://www.kbvresearch.com/news/home-theatre-market/">https://www.kbvresearch.com/news/home-theatre-market/</a></p><h2>The Bottom Line</h2><p>The home theatre application is designed to provide the consumer with an entertainment choice. In just one system, users can watch TV and movies at home with a little extra excitement than normally just watch a plain-old TV on their own.</p><p>In reality, going to the local cinema is a distant memory for many because staying at home is less expensive and more convenient. Additionally, with the ever-decreasing period between theatrical and home video broadcasting and streaming release, waiting a few more months to watch the major blockbuster movie or TV show isn't necessarily a big deal, as long as you avoid spoilers from those who've seen that film. Furthermore, there is the fun of binge-watching for television shows - instead of watching the next episode; you can watch many during one viewing period.</p><p>Through borrowing from and adapting the movie theatre's picture and sound technologies to the home environment, TV and audio manufacturers provided the user with the ability to simulate the film theatre experience at home, depending on the equipment and product control choices picked. The <strong>Global Home Theatre Market</strong> is anticipated to reach emerge at a CAGR of 8.3% over the coming years.</p></div>MGT-7: What is it and who are eligible for filling this formhttps://globalriskcommunity.com/profiles/blogs/mgt-7-what-is-it-and-who-are-eligible-for-filling-this-form2019-06-28T05:50:10.000Z2019-06-28T05:50:10.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><h2>Introduction to MGT 7</h2><p>MGT-7 is an automated form or e-form provided by the MCA (Ministry of Corporate Affairs) for companies to register their Annual Return.</p><p>Companies have to register their Annual Return in 60 days following the AGM (Annual General Meeting). Usually, this meeting is scheduled on September 30th following an appropriate Financial Year. So, excluding exceptions, MGT 7 is scheduled for 29th November all year. This e-form is managed by the ROC (Registrar of Companies) through automatic mode. On the basis of the account of accuracy provided by the company.</p><h2>Who are eligible for a form MGT 7?</h2><p>Every Company registered under the Companies Act, 2013 or Companies Act, 1956. They are expected to register their Financial Statements in e-Form MGT-7 in 30 days-60 days respectively from the end of its AGM. All companies registered in India, let it be<span><a href="https://www.legalraasta.com/public-limited-company-registration/"><strong> Public limited company registration</strong></a></span> or Private all must register their annual returns in e-form.</p><ul><li>LLP Registration</li><li>Private Limited Company</li><li>Partnership</li><li>Sole Proprietorship</li><li>Public Limited Company</li><li>One Person Company</li></ul><p>All of them are eligible if they are registered companies.</p><h2>What are the results of not filing the form MGT 7?</h2><p>For every day of neglecting for filing the Annual return e-form. A penalty is charged for the company of Rs. 100. This penalty was increased by the government in 2018. So it is a necessity for companies to assure up-to-date filing of this MCA annual return or income tax return before the due dates.</p><h2>What are the details need to be filed in Form MGT-7?</h2><p>In Form MGT-7, the company would have to submit the following details concerning the fiscal year for which the form is filed:</p><ul><li>Registered office</li><li>Principal business activities and particulars of its holding.</li><li>Subsidiary and associated companies.</li><li>The pattern of Shares, debentures and other securities and shareholding.</li><li>Indebtedness Details</li><li>Members and debenture-holders details on with changes therein considering the end of the past fiscal year.</li><li>The pattern of the shareholding in a company.</li><li>Topics describing to certification of agreements, declarations as directed.</li><li>Punishment or penalty forced on the directors or officers of the company.</li><li>Details of compounding of offenses and claims addressed on penalty or punishment.</li><li>Compensation of directors and essential managerial personnel.</li><li>Meetings of members of Board and its many committees with details of attendance.</li><li>Directors, Promoters, Key managerial personnel with the changes internally since the end of the past fiscal year.</li></ul><p>To make and file form MGT-7, several fiscal and operational details concerning the fiscal year would be needed. So, before making MGT-7 a copy of the audited financial statement of the company would be needed.</p><h2>What are the documents Recorded in MGT-7 Form?</h2><ul><li>List of shareholders and debenture holders is necessary for the circumstance of a company having share capital.</li><li>Permission letter for extension of AGM which is compulsory in case of AGM due date was stretched.</li><li>MGT-8 copy which is obligatory in state of a registered company or a company has a paid-up share capital.</li><li>Optional Attachments, if any</li></ul><h2>What are the steps for Form-MGT 7?</h2><ul><li><span>Step 1 – Download form MGT– 7 </span></li></ul><p>Go to given Link and download form from the official site of MCA.</p><ul><li><span>Step 2 – Fill the form mentioned in the website</span></li></ul><p>Begin with mentioning of CIN no. of the company. Then practice the pre-fill facility. After that, click on no. of business activity. It will demand to fill the turnover of the business/company. That column will be displayed.<br /> For filling additional details use the instruction kit. The documents required are mentioned above details which need to be filled are also as follows in the above paragraph.</p><ul><li><span>Step 3</span>– <span>Pre-scrutiny</span></li></ul><p>After this, complete details of the person who are engaging the form. Do note form used to get the form fulfilled completely. On no error message, put digital signature and no direction. All details are accurate, the resulting data will display on the screen.</p><ul><li><span>Step 4 – Upload the form following the process of making payment</span></li></ul><p>Make payment and fulfill the transaction. An SRN number will create which will display on another window. Keep the SRN number for future reference if any.</p><h2>The signing of MGT-7 form</h2><p>The MGT-7 e-form for Small Company and One Person Company need to be digitally signed with a Company Secretary(CS) in practice or class 2 Digital Signature.</p><h2><span>What is the due date of the registering the form?</span></h2><p>The Form MGT-7 is to be registered in 60 days from the date of the AGM (Annual General Meeting) of the company.</p><p>This article is framed by Shrishti Jain. A content writer at Legalraasta.</p><p>Legalraasta is one of the best portals in India. Offering numerous legal services at a valuable cost like<span><a href="https://www.legalraasta.com/private-limited-company-registration/"><strong> Company Registration</strong></a></span>, Digital signature, EPF registration and so on.</p></div>Gazetted Officer: Aspects of getting documents attestedhttps://globalriskcommunity.com/profiles/blogs/gazetted-officer-aspects-of-getting-documents-attested2019-05-07T10:30:00.000Z2019-05-07T10:30:00.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><p><span style="font-size:14pt;"><strong>Gazetted Officer</strong></span></p>
<p>A senior government official whose appointment is published in the Gazette of India or any State Government Gazette, he/she is called Gazetted. Their authority of using an official stamp comes from the President of India or the Governors of States. To put it simply, they represent the Indian State and the President.</p>
<p>Important identification & certification documents, to avail various government and banking facilities, require attestation by a gazetted officer, first.</p>
<p><strong><img class="CToWUd" src="https://ci4.googleusercontent.com/proxy/MXdeKm-BKOFbBjO1UyE1rBAaAcImScm3lc9BXOmIEI4Mgbc_JwahDKuX0bN4GGAb3-hw17hbFqhol-5JoaH3GV5l0iRiIzLPOKx2I5A8NN9QfDU=s0-d-e1-ft" alt="MXdeKm-BKOFbBjO1UyE1rBAaAcImScm3lc9BXOmIEI4Mgbc_JwahDKuX0bN4GGAb3-hw17hbFqhol-5JoaH3GV5l0iRiIzLPOKx2I5A8NN9QfDU=s0-d-e1-ft" /></strong></p>
<p><em><strong>Listen and subscribe to our RISK Management SHOW, available on major podcast apps and via the link below </strong></em></p>
<p><a href="https://globalriskcommunity.libsyn.com/" target="_blank"><img class="CToWUd" src="https://ci4.googleusercontent.com/proxy/AsUqkySeE7cDs65Yr1zWGmYzluA0rIUH6Pf-ctbdm0oD8PY8sb0C7k7qHdgBrUKXD7QveikJFEru3Bg2WBve8p2wMy2FVNbQjHkCM2Nxk2H0QWBLVRN0OzwizInUAj3uT_RE77E=s0-d-e1-ft#{{#staticFileLink}}8069434896,original{{/staticFileLink}}" alt="8069434896?profile=original" width="645" height="80" /></a></p>
<p><img class="CToWUd" src="https://ci4.googleusercontent.com/proxy/MXdeKm-BKOFbBjO1UyE1rBAaAcImScm3lc9BXOmIEI4Mgbc_JwahDKuX0bN4GGAb3-hw17hbFqhol-5JoaH3GV5l0iRiIzLPOKx2I5A8NN9QfDU=s0-d-e1-ft" alt="MXdeKm-BKOFbBjO1UyE1rBAaAcImScm3lc9BXOmIEI4Mgbc_JwahDKuX0bN4GGAb3-hw17hbFqhol-5JoaH3GV5l0iRiIzLPOKx2I5A8NN9QfDU=s0-d-e1-ft" /></p>
<p> </p>
<p><span style="font-size:14pt;"><strong>Who is a Gazetted Officer</strong></span></p>
<p>Basically, a Gazetted Officer belongs to either of the below categories:</p>
<ol>
<li><strong>Group A or Class I (Gazetted and Executive officers):</strong></li>
</ol>
<p>This class consists of the highest class of government servants. They are ranked from level 1 to 10 in the Civilian and Defence Pay Matrices. Include:</p>
<ul>
<li>Officers of Indian Armed forces,</li>
<li>Magistrates in Judicial services and above,</li>
<li>Central and State service men (Doctors, Engineers, Drug Controller),</li>
<li>Employees of central and state government universities (Vice Chancellors, Principals, Assistant Registrars, Faculty members, etc.),</li>
<li>Scientists working in a government-funded research organization (such as DRDO etc.),</li>
<li>Central or state government employees who have Group A service Rules (IAS, IES, DIG, DCP, ASP, DGP, JCP, IB, SDPO, etc.),</li>
<li>All Police officers ranking above circle inspector.</li>
</ul>
<ol>
<li><strong>Group B or Class II (Gazetted officers):</strong></li>
</ol>
<ul>
<li>Section Officers,</li>
<li>Assistant Executive Engineers,</li>
<li>Block Development Officers (BDO),</li>
<li>Tehsildars,</li>
<li>Junior Doctors working in Government Hospitals,</li>
<li>Magistrates,</li>
<li>Headmasters of Government High Schools,</li>
<li>2nd Lieutenant,</li>
<li>Lecturers of Government colleges,</li>
<li>Income Tax and Revenue officials.</li>
</ul>
<div id="om-cyleseddvagssksuvew3-holder"> </div>
<p>Post-retirement they cease to be Gazetted officers, with all powers to attest divested.</p>
<p> </p>
<p><span style="font-size:14pt;"><strong>Gazetted Officer Attestation</strong></span></p>
<p>The Gazetted Officer who puts the stamp, along with this authority, becomes responsible to check and verify that the person actually exists. The purpose of the Attestation is to make sure that the person is legally authentic.</p>
<p>An Official can not attest a document, without identifying the person. Therefore, they may keep a copy of your document.</p>
<p> </p>
<p><span style="font-size:14pt;"><strong>Situations requiring Gazetted Officer Attestation</strong></span></p>
<p>You would need to reach the Gazetted Officer, with your valid original ID proof and its copy to get your documents attested. It is, generally, required when applying for:</p>
<ol>
<li>Ration card</li>
<li>Passport</li>
<li>Government jobs</li>
<li>To take Admission in Schools, Colleges</li>
<li>While filing for tenders, some have a prerequisite of attested certificates</li>
<li>Documents for Digital Signature Certificate (DSC)</li>
</ol>
<p> </p>
<p><span style="font-size:14pt;"><strong>Important points about Gazetted Officer Attestation</strong></span></p>
<ol>
<li>A Gazetted Officer does <strong>not include </strong>any officers of <strong>Notary, Nagar Sevak</strong>, etc.</li>
<li>Only officers of <strong>Group A</strong> and <strong>Group B</strong> can attest the documents. Officials coming under two other categories Group C and Group D are not Gazetted, Officers.</li>
<li>If attestation is being done for the purpose of applying for a <strong>passport.</strong> It can only be done by <strong>Group A</strong> gazetted officer only who are under the rank of Secretary/Dy. Director (Level 11 and above), for example, Sub-divisional Magistrate, etc.</li>
<li>Only a <strong>Group A</strong> official can attest the documents related to C<strong>itizenship Certification</strong>.</li>
<li>Only a <strong>Police Official</strong> and <strong>Group A</strong> official can attest <strong>Character Certificate</strong>.</li>
<li>The <strong>name, designation and contact number of the gazetted officer</strong> should be clearly mentioned.</li>
<li>The Documents are to be attested in <strong>blue ink only</strong>. To be valid, it has to have a <strong>stamp of the attesting officer</strong> and the department or organization he belongs to.</li>
<li>There are <strong>no fees</strong> for getting the attestation done by any gazetted officer.</li>
</ol>
<p> </p>
<p><span style="font-size:14pt;"><strong>End of Gazetted Officer's Attestation</strong></span></p>
<p>One of the lesser spoken and disputed contribution of the current government has been the relaxation in the troublesome practice of requiring Attested copies of Certificates for higher studies and government jobs, to accompany the application forms. Since 2014, a lot of services require only self-attested copies now. Earlier, it was resulting in a wastage of time and the general citizens, many times, had to pay money for this free service.</p>
<p>The Central Government, also, wrote to the State Governments guiding them to do away with the requirement of attaching affidavits or documents attested by Notary or Gazetted Officials. To reduce red-tape, simplify the procedure and make the methods citizen friendly. </p>
<p>Taking the cue, State Governments are adopting the provision of Self-Certification by applicants, instead of asking for an attested copy, in a phased manner. Thereafter, self-attested documents such as birth certificates and mark sheets, are accepted. Gazetted Officer's attestation is no more required to take a Tatkal Passport or admissions to State or Central Universities or even Government jobs.</p>
<p>Self-Attestation rules, however, require the person to keep ready the original documents at the final stage.s</p>
<p>Though the Central Government wants to completely rid this requirement with the help of biometrical verification. Still, Self-Attestation is not permitted in some cases where it is a statutory requirement. </p>
<p><em>The article has been written by Reema, a content writer with LegalRaasta. India's top portal for professional help related to legal, finance and business such as </em><a href="https://www.legalraasta.com/income-tax-return/"><em>ITR filing</em></a><em>, Company Registration, </em><a href="https://www.legalraasta.com/trademark-registration/"><em>trademark registration</em></a><em>, etc.</em></p>
<p> </p></div>Private limited company -The next step to ownershiphttps://globalriskcommunity.com/profiles/blogs/private-limited-company-the-next-step-to-ownership2019-04-30T06:31:29.000Z2019-04-30T06:31:29.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><p><span>Establishing a private limited company with creative ideas is like giving wings to your own dreams. Especially when you are the owner of your own company. The most catchy part of starting the journey of owning a private company is a big risk. But a great profit is earned and one has to choose the finest entity for that. A company will be popular on the basis of catchy and engaging taglines. The private limited company does full justification to the taglines. The best examples are seen today.</span></p><ul><li><span>Reliance Industries Limited</span></li><li><span>TATA Steel Limited</span></li><li><span>Bajaj Auto Ltd</span></li><li><span>Bharti Tele-Ventures Limited</span></li></ul><p><span> Many more all these company are well-known and famed private limited companies in India. As the name specifies its meaning a "private" means personal "Limited" means restricted in size and "Company" a commercial business.</span></p><p><span>Pvt.Ltd is a short form used after the company's name. A private limited company is personally operated for small businesses with limited liabilities. The responsibility of Private Limited Company members is confined to the number of shares individually owned by them. The buying and selling the shares of the private limited company cannot be done publicly.</span></p><p><span>The people who are involved in private companies are Directors, shareholders, employees, and members. In the company at least 2 members are required and a maximum of 200 and there should be 2 directors. The Least paid-up capital required to establish a company is Rs. 1 Lakh.</span></p><p><strong>Why would anyone pick the private limited company?</strong></p><p><span>The answer to this question- the private limited company has a great team of employees. Who are talented to build a remarkable name for the company. The limited liability is big protection for the owners of the private company. In the case of profit and loss situations limited liability secure there ways. So, in private companies its a mandatory process to go for <strong><a href="https://www.legalraasta.com/llp-registration/">LLP Registration</a></strong>(Limited Liability Partnership) for securing the future of the company. If the company is facing any loss the company's assets are taken into the account their personal assets are safe.</span></p><p><span>The decision-making process in a private company is swift and quick. The time is utilized in strengthening the efficient and smooth working of the company. The pressure of stock and its market is eliminated part of this company. The shareholder's interference and expectation are according to the law of the company. They can focus on long-term earnings.</span></p><p><span>The private limited companies have the plus point that in-laws of the company.</span></p><p><strong>The situation that makes the private limited company advantageous.</strong></p><ul><li><span>The owner or any member dies</span></li><li><span>Bank corrupted</span></li><li><span>Leave the company or transfers his/her share to another member</span></li></ul><p><span>The company will remain for long-run and it will not dissolve in any situation. There is no option for shareholders to trade there shares with the public and let them subscribe to their shares. Even, shares cannot be traded on a public stock exchange as there are a limited amount of shareholders. It is obligatory that you should state Pvt. Ltd at the end of a company name.</span></p><p><span>The registration of a private company is way more easy and accessible.</span></p><p><strong><span> The steps of registration one need to follow up by establishing a private limited company.</span></strong></p><ul><li><span>Name approval by the ministry of the cooperating affair(MCA)</span></li><li><span>Digital sign</span></li><li><span>Submission of incorporation application with MCA </span></li><li><span>Ltd. incorporation certificate. </span></li></ul><p><strong><span>The mandatory documentation for the commencement of a private limited company. </span></strong></p><ul><li><span>A copy of Aadhaar Card or Voter ID</span></li><li><span>A copy of Electricity Bill</span></li><li><span>Passport and PAN card copy</span></li><li><span>NOC from the owner of the property</span></li><li><span>2 passport size photographs of the owner</span></li><li><span>Proof of address of the company and the bank statements. </span></li><li><span>All the documents need to be attested.</span></li></ul><p><span>A private limited company has all advantage and interest of partnership like compliance. Also, it has higher capital enrichment and intensified skills and techniques. Even it has much more to contribute merged with limited liability, higher resistance, and legitimate existence. Company ownership is separate and private. Hence, it does not require to face the Exchange Commission and strict Securities filing provisions of public companies.</span></p><p><span>This article is framed by Shrishti Jain the content writer in Legalraasta. It is India's top portal. The company render its finest and great service like company registration, loans, <strong><a href="https://www.legalraasta.com/private-limited-company-registration/">Private Limited Company Registration</a></strong>, etc</span></p><p><span> </span></p></div>Prerequisites to register a Private Limited Company in Indiahttps://globalriskcommunity.com/profiles/blogs/prerequisites-to-register-a-private-limited-company-in-india2019-02-22T07:42:40.000Z2019-02-22T07:42:40.000ZShrijay Shethhttps://globalriskcommunity.com/members/ShrijaySheth<div><p>Before starting a new business, you need to understand the basic requirements for the business structure. The structure technically decides many factors including the operations, controls and ownership rights. If after the structure assessment, you find the Private Company as aright entity for your business, it’s time to dig in deeper. Let’s find an answer to <em>what are the basic requirements for</em> <a href="https://www.legalwiz.in/private-limited-company-registration" target="_blank">Private Limited Company Registration in India</a><em>?</em></p><p> </p><p><strong>Decide objects and scope</strong></p><p>The first step is to consider the business activities and scale of business. Based on this factor, you can decide the business and financial needs. To mention the regulation, note that your business activity is not something prohibited or announced as illegal. Further, few activities are regulated by different regulatory like SEBI, RBI or IRDA. For example, if it is a financial institution, you need to obtain RBI approval. SEBI approval is required for activities related to the securities market like a stockbroker.</p><p> </p><p>Company’s business activities are termed as objects of the company by law. Such objects are identified in the MoA of the company. The object clause of MoA should refer to the main activities and other activities ancillary thereto. Unless you have registered the object with MCA through MoA, the company cannot indulge in such activities. Therefore, you should try to cover the most general clauses related to any activity to reduce the chances of alteration and incur a cost. However, multiple unrelated activities are not allowed under one roof.</p><p> </p><p>Your activity and scope will further decide other licencing requirements. For example, import-export business demands IEC registration, while many other activities meet mandatory registration requirements under GST.</p><p> </p><p><strong>Choose where you work</strong></p><p>After your business activity is decided, you need to find a business place. The business place must be provided for company registration. The promoters must provide the business address and related documents for the purpose of registration.</p><p> </p><p>Typically, it is used for the business communication by authorities including MCA or any third party. However, this becomes less significant in the era of digital communication, especially for small businesses as it incurs fixed and continuous expenses for the company.</p><p> </p><p>Here, I would like to address the most frequently asked questions: <a href="https://www.legalwiz.in/blog/can-i-use-my-residence-as-registered-office"><strong>Can I register a company at a residential address?</strong></a> This is most raised concern for the small-scale businesses or those who do not have a specific business place. You need to address the registered office requirement whether you own a business place or not. Therefore, you can register a Pvt Ltd company even at a residential place. However, you should also look for its pros and cons. Also, virtual office option is open for you.</p><p> </p><p>If you find that you do not want to use given address for long-term, need not to worry. You can change the address anytime.</p><p><strong> </strong></p><p><strong>Choose who you work with</strong></p><p>Business partners are essential to direct the business in the right and targeted direction. Here, in a company structure, you get to choose with whom you want to share your ownership or the work. In a company, the ownership and management is separate.</p><p> </p><p>You specifically need to address the business needs by placing the right person for the appropriate task. In most cases, the Private Company owners choose to become member and director at the same time. However, you can surely adopt the benefit of separation, whenever needed.</p><p> </p><p>Let’s talk about provisional requirements as well. To register a Private Limited Company in India, you need to fulfil the following requirements:</p><p>1. Minimum 2 shareholders</p><p>2. Minimum 2 members.</p><p>Many entrepreneurs find themselves alone to meet this requirement. In such a case, you can rely on a family member or a friend to fulfil the minimum criteria.</p><p> </p><p>It is not necessary that all shareholders be an individual. Even body corporate like company or LLP can become shareholder through its representative. On other hands, it is necessary that the company’s directors are individuals. Further, one of the directors must be an Indian resident.</p><p> </p><p><strong>Choose your company name</strong></p><p>The company name is how you are known in the market. It is necessary to choose the right name that depicts your goals and objects. Additionally, it should be easy to pronounce and remember for the purpose of advertising.</p><p> </p><p>You should not rely on adopting existing businesses’ name, because in the long-term that may harm your business as well. Especially in this competitive environment, the business needs to place itself distinct from others in existence.</p><p> </p><p>Note that your company name must end with “Private Limited” or “Pvt Ltd”. This provisional requirement meets the need to depict the nature of the business. Make sure to meet the other regulatory requirement in name reservation. Also, you must take views of professionals before finalising the name.</p><p> </p><p><strong>Decide initial capital inflow</strong></p><p>Last but not least – money. Money keeps the business going, but it’s the most essential factor to start one. When you are reaching the promotion stage after deciding all the above factors, you come to finalise the initial capital requirement for the company.</p><p> </p><p>While you are the best judge to decide your business requirements, let have a look on regulations you must be aware of. For company registration, you will come across many different terms representing the <a href="https://www.legalwiz.in/blog/capital-required-to-register-pvt-company">types of capital</a>. The main being- authorise capital and paid-up capital.</p><p> </p><p>Authorised capital is one that decides the company’s capacity to raise money. The primary requirement is to set the company’s authorised capital as Rs 1 Lakh. While deciding this amount, you need to consider that it is a deciding factor for the stamp duty payable to Government for registration.</p><p> </p><p>You are free to decide the paid-up capital. Note that to become a shareholder, one must subscribe at least 1 share. This is the capital actually to be deposited in the company’s bank account. Therefore, decide this amount being realistic and understanding the actual need of the company. Again, you can anytime raise additional fund for the company with the prescribed process.</p><p> </p><p><strong>Conclusion</strong></p><p>The process to register a Private Company is simplified with minimal requirements. But, your burden reduces when you find the right professional to your assistance. However, it is essential on your part to know these basic requirements and inform your needs to them. With <a href="https://www.legalwiz.in/" target="_blank">LegalWiz.in</a>, you find the business set-up hassle-free and at the affordable cost. With a 9.6/10 referral score, the team has served more than 4,000 businesses across the country. Get in touch with LW professionals at support@legalwiz.in to take your Company registration plan to the next stage.</p></div>Success Story of Justdialhttps://globalriskcommunity.com/profiles/blogs/success-story-of-justdial2019-01-08T08:50:40.000Z2019-01-08T08:50:40.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><h2><span>JustDial: Origins</span></h2><p><span> </span></p><p><span>"JD app se pucho" has become the main tagline for the local search market Justdial. It has become so popular in India, that it's advertisements run all across the country in billboards, social media, as well as, Movie theatres. However, this famous had humble beginnings like most successful ventures do, as a classified website. In this piece, we are going to go over the success story of Justdial or JD as people have come to know and also acquaint you with the process of JustDial registration.</span></p><p><span>Today, JustDial is popular and successful enough to employ the services of one of India's most famous actors, Mr Amitabh Bachchan as their brand ambassador take a look at one of their creative adverts.<br /> <br /></span></p><p><iframe src="https://www.youtube.com/embed/GyOVsGINjIs?wmode=opaque" width="560" height="315" frameborder="0" allowfullscreen=""></iframe></p><p></p><p><span>Justdial came from humble beginnings, once they did their <a href="https://www.legalraasta.com/private-limited-company-registration/">company registration</a> in 1994, they started out in a hired garage, with rented furniture with a meagre investment of ₹50,000 and 5-6 employees.</span></p><p><span>The Founder of Justdial, V.S.S Mani has been a serial entrepreneur throughout his career. However, this business acumen was inculcated in him in his early days as a sales executive in a yellow pages company called United Database India(UDI) where he was employed for a time period of 2 years. Mani credits the 2 years in that organization as being superior to what any MBA program would have taught, as he met with many entrepreneurs and learned a lot of business strategies. Endowed with knowledge and inner workings of a local indexing business, He started a company called "Ask me" and although the<a href="https://companyregistrationonline.in/private-limited-company-registration/"> company formation</a> was successful, the business soon failed since the business model wasn't viable as the penetration of telephones was less than 1% in that time (1989).</span></p><p><span>Although the name "AskMe" was a catchy name which hit the customer's mind, the lack of a telephone number with a good and memorable hook to it meant that people would often forget the number of AskMe and would go for another local search listing. After the failure of AskMe, Mani decided to jump into the wedding planning business. Mani was successful with his business venture this time as he generated a revenue/ profit margin of ₹ 2.5 lakhs. However, still dissatisfied with his line of work and the business model, Mani decided to jump into the local indexing business once again with all the learnings of his previously failed enterprise as well as his successful business venture.</span></p><h2><span>Current Day Scenario</span></h2><p><span>Mani was not a quitter, and with the newly gained insights, he stretched the company to new unimaginable heights. For the FY 2018, Justdial reported a revenue generation totalling to ₹ 121.63 crores. As of today, JustDial provides voice services on their new and "improved " and easy to remember telephone number +91-88888 88888 or "10 times 8" . Mani corrected his previous mistake and acquire a very easy phone number. As of today, the local market search engine receives over 3 million calls on a daily basis. In addition to this, Justdial has 23.8 million listings as of September 2018. Justdial has 131.3 million quarterly unique users with more than 10 million plus downloads of the app.</span></p><p><span>The business model of Justdial was very well drafted, consolidated, as well as, ingrained in the employee's heads that from a rented garage, the employee's took the company to 15 offices all over India and offices in UAE, Canada, UK and USA.</span></p><h2><span>The Business Model</span></h2><p><span>Justdial's success story essentially boils down to the business model by which it was run. This has resulted in JustDial reporting a negative working capital and higher and higher revenue each month, which means their business practically runs itself.</span></p><p><span><img src="https://content.thriveglobal.com/wp-content/uploads/2019/01/11.jpg" alt="11.jpg" /></span></p><p><strong>Justdial Metrics</strong></p><p><span>Let's look at just how Justdial achieved such a widespread outreach. First things first, contrary to his first venture the founders of Justdial got a catchy and easy to remember the telephone number. Since they started out as a calling yellow pages company, they needed a telephone number which user remembers at their fingertips. Thus, they acquired the phone number 10 times 8. This, combined with the name Just Dial made the company easy to remember.</span></p><p><span>Once they had established a brand to remember the next obstacle that faced the Justdial team was one of populating a database. They achieved by approaching local businesses personally on foot door to door. They continued this process until they had a substantially healthy database.</span></p><p><span>Once Justdial established a good database with considerable volume, the next challenge awaiting them was getting the users to use their extensive research and database. In the first go, it is very tough to generate an audience for your platforms since the company is short on funds and the advertisement revenue is also little. Therefore, to promote the usage of their services, the business convinced their clients as well as their employees to use the services being offered by the company.</span></p><p><span>One more efficient and smart tactic Justdial deployed was not to focus and target big name brands but it was to strengthen their ties with diverse local businesses. This basically helped people to search for small businesses for daily utilities like carpenters, plumbers, mobile shops, painters among others.</span></p><p><span>This method of working on a word-of-mouth referral helped JustDial a lot and accelerated their popularity and skyrocketing the numbers for their user base. In addition, Justdial was adamant of being a helping hand towards Small and Medium Organizations. Justdial has proposed special provisions with value-added offerings of huge online visibility, payment solutions, customized website, mobile site, and mobile app all packaged together making it an attractive value addition for companies with an <a href="https://www.legalraasta.com/msme-registration/">MSME registration</a>.</span></p><p><span>Justdial has a very efficient revenue model which cut their operation costs to a minimum.</span></p><p></p><p><span><img src="https://content.thriveglobal.com/wp-content/uploads/2019/01/12.png" alt="12.png" /></span></p><h2><span>Justdial Investors</span></h2><p><span>With the growing popularity and ever-growing network of Justdial, many big firms started seing the benfits of the local business indexing system and started investing in the same. Here's a list of some of the major investors in the justdial's journey:</span></p><ul><li><span>SAIF Partners</span></li><li><span>Sequoia Capital </span></li><li><span>Tiger Global</span></li><li><span>EGCS</span></li><li><span>SAP Ventures</span></li></ul><p><span>In June of 2012, JustDial raised a revenue totalling $57 million from existing investors Sequoia Capital, as well as, Sapphire Ventures. The revenue raised was managed very effectively for brand building, promotions and advertisement. Here are few objectives that were achieved via the investor money.</span></p><ul><li><span>Strengthening the Company's Brand Value</span></li><li><span>Improving the relation of the brand with SME's.</span></li><li><span>Extending the scope of business activities into new products and activities</span></li><li><span>Obtaining licensing to expand the geographical outreach of the company.</span></li></ul><h2><span>Justdial advertisements and Marketing</span></h2><p><span>Like we mentioned before, with the global outreach and vast network of JustDial, they started investing heavily in advertisements. They went into many mediums and sources like Print, Radio, Social media, cinema halls, Tv Adverts among many others.</span></p><p><span>Amitabh Bachchan has been benefiting from being a brand ambassador of JustDial . In the IPO declaration it was revealed that he had been allocated 62,794 shares at ₹ 10/ share. That makes his total investment ₹6.27 lakhs at that time. That investment is worth somewhere close to ₹ 9 crore now.</span></p><p></p><p><span><img src="https://content.thriveglobal.com/wp-content/uploads/2019/01/131.jpg" alt="131.jpg" /></span></p><p></p><p><span>In addition to this, the popular Local Business Search Engine did guerrilla marketing by placing advertisements hoardings in front of crowded places, airports, railway stations and such.</span></p><p><span>Justdial deployed tactics like offering various services during wedding season. Starting from 2014, Justdial also entered the business of sponsorship of sporting events like IPL. They teamed up with many cricketers most notably, Yuvraj Singh and franchises like Delhi Daredevils and Royal Challengers Bangalore.</span></p><p><img src="https://content.thriveglobal.com/wp-content/uploads/2019/01/14.jpg" alt="14.jpg" /></p><p></p><p><span>just dial registration Ads.</span></p><h2><span>Why has Justdial been such a Hit?</span></h2><ul><li><span>Long Standing presence in the search market</span></li><li><span>Business models adapts to the needs of the present . They shifted platforms from a telephone based directory to a web based directory and now to a Mobile App based services.</span></li><li><span>Quick Response time to user questions</span></li><li><span>Consistently delivering User Experience of the highest quality</span></li><li><span>Profitable revenue Model</span></li><li><span>Experienced Marketing and Management Divisions with extensive experience.</span></li></ul><p><span> </span></p></div>How to Handle Boss Fights: Resolving Co-Founder Conflictshttps://globalriskcommunity.com/profiles/blogs/how-to-handle-boss-fights-resolving-co-founder-conflicts2018-11-06T08:05:52.000Z2018-11-06T08:05:52.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><p><span>Running a company together is in no way an easy task, Going through all the legal procedures like <a href="https://companyregistrationonline.in/private-limited-company-registration/">Company Registration</a> getting <a href="https://www.applyiec.in/">Import-Export License</a> and <a href="https://www.legalraasta.com/trademark-registration/">Trademark Filing</a> etc. along with managing logistics can be a very challenging task. In a way, you can say it is the marriage of the business world. So like a marriage, it is vital to keep both parties happy in order for the relationship or the business to prosper. However, no relationship whether it's a marriage or a business is free from hiccups, conflicts and tempers rising. Some say if managed efficiently, confrontations can bring path-breaking perspectives to both parties involved. So with that hope, let's look at how best to manage and efficiently handle confrontations and conflicts between co-founders of a company.</span></p><p><span>First and foremost, this piece is not the bible of conflict resolution because what may seem to resolve conflicts between two people could add fuel to the fire for other groups of people because different people have different reactions to these situations. It might be a step too far to say that startups may fail because of conflicts between Co-Founders. However, it could be one of the major contributing factors as if there is trouble at the apex, there is nothing preventing from the negative vibes spreading over to the rest of the company and causing it to rot. Well, that will happen only if the conflicts are not managed and resolved. Let's look at some tips and tricks on how to resolve the conflict between the top-dogs of a company.</span></p><p><span>Let's face it, the structure of the business whether you form <a href="https://www.legalraasta.com/private-limited-company-registration/">Pvt Limited Company</a> or you do an <a href="https://www.legalraasta.com/llp-registration/">LLP Formation</a>, it has very little impact on whether or not a conflict will arise. This is because no matter what the business structure of the operation, Co-Founders always have to work in close quarters to each other and it is pretty hard for two people working so close to never have any disagreements</span></p><p><span>First of all, we need to address the root causes of these conflicts. The conflicts could arise due to a variety of reasons ranging from divided opinion on big issues, personalities differences or even management styles. Conflicts can also turn into mountains from molehills from very petty issues like cleaning up the office space. Of course, communication saves relations is always true so it is always pivotal to have honest, free-flowing conversation. This will not only resolve an argument but it will amount to improving the company's bottom line, promote teamwork and increase efficiency.</span></p><h2><span>Resolving Conflicts Step by Step</span></h2><h3><span>Plan of Action</span></h3><p><span>Be prepared before-hand even before there is a chance of a conflict arising. In order to avoid any disputes, keep your roles, responsibilities, liability, profit distribution and most important of all conflict resolution strategies in writing. Many of these things are already laid down in the <a href="https://www.legalraasta.com/memorandum-of-association-moa/">Memorandum</a> when you <a href="https://www.legalraasta.com/private-limited-company-registration/">Register a Company</a>. However, in addition to the legal formalities, it can prove beneficial to form up a founder's agreement</span></p><p><span>The main questions this founder's agreement can address are how will you pursue conflict resolution? Is a third-party intervention necessary? How is the decision making process split-up between the owners? The basic responsibilities and major roles each co-founder will play in the company has to be made sure by this founders agreement.</span></p><p><span>Having a founders agreement in place will help you identify issues in the working style of the owners how they work together and how they counter each other. It will also help identify issues before they even crop up and you're at each other's throats figuratively speaking, could also be literal(let's hope not). assess how you will overcome disagreements before they even occur. It will go a long way to kill the fight before it even begins.</span></p><h3><span>Address the Conflicts Head on</span></h3><p><span>While letting issues slide by and ignoring the fights might work in the very short run span of things, ignoring even the pettiest of arguments could be a brewing volcano inside of a mountain ready to burst, erupt and burn everything in its path. So it is pivotal to address the conflicts co-founders face because they might re-occur or even escalate into something disrespectful and irreversible. The moment a conflict arises with your partner in the business, set aside a time to discuss the matter privately. Of course, fighting in front of your employees will only be harmful to your reputation as managers.</span></p><h3><span>Two-Way street</span></h3><p><span>Open up your mind and your ears and really try to understand the point of view of your fellow director in times of conflict and dire arguments take as much as you have to give and probably it will eventually clear up that both of you were coming from a place of concern for the business and were only trying to improve the business and its operations.</span></p><p><span>Let's just understand one thing in a fight, it might seem like one person or the other is winning and you might feel like it is crucial that you win. However, one thing is for certain that if the argument doesn't end and tip in the favor of one or the other co-founders, the real loser in this situation could be your business which you built with so much hard work and put your heart, soul, blood, sweat, and tears into while taking significant career risks. SO, don't be afraid to take one for the team every once in a while because as they say you win some, you lose some.</span></p><p><span>When you give as much as you take from these business relationships you stand a chance to come out even stronger as a couple of individuals as well as a combined business unit.</span></p><p><span> </span></p><h3><span>Solution</span></h3><p><span>Now onto the main part, the solution. Basically, any upheaval in the co-founder structure of the company always hits the stock and business of the company thus, it is in the best interests of the company to come to an amicable solution for the good of the company and not just to boost your personal ego. The goal of having a co-founder by your side is to face up to the challenges of the unforgiving market it's constants ups and downs and its constant battles and conflicts and not getting dragged into arguments within yourselves. The relationship of a business partner is as fragile and as important as many other relationships affecting your life and hence should be dealt with the utmost care and respect for the other person it is the only way the business will move forward as a reckoning force.</span></p></div>Restructuring Corporate Offenses: Government Appointed Panel Suggests in-house adjudication systemhttps://globalriskcommunity.com/profiles/blogs/restructuring-corporate-offenses-government-appointed-panel2018-09-21T05:50:55.000Z2018-09-21T05:50:55.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><h2><span>Special Courts and their Plight</span></h2><p>Special Courts are up to their necks deep in corporate fraud cases with serious offenses. In this mess of serious offenses, many routine procedural errors and lapses are piling onto the pending cases and cluttering the justice system for corporates. In a pursuit, to "de-clog" the system, a 10-man government-appointed committee chaired by Mr. Injeti Srinivas are looking to bring about radical changes by restructuring corporate offenses. This attempt also comes as part of larger efforts by the government to enhance the Ease of Doing Business and improving <a href="https://www.legalraasta.com/file-roc-compliance-for-private-limited-company/"><span>ROC compliances</span></a>. The Ministry of Corporate Affairs has also made brilliant strides to promote faster <a href="https://www.legalraasta.com/private-limited-company-registration/"><span>company registration</span></a> procedures with <a href="https://www.legalraasta.com/blog/one-day-company-incorporation/"><span>One-Day Company Incorporation with SPICe</span></a>.One outstanding and radical change the panel suggests is the appointment of an in-house adjudication system to facilitate freeing up the workload on the special courts.</p><h2>Restructuring Corporate Justice</h2><p>It is clear that the special courts need a helping hand of support if they are to deliver justice for wrongdoings by fraudulent individuals. A vast array of changes and re-structuring of the system might come as a sigh of huge relief to the Judicial system.</p><p>Let's break down the changes to system suggested by the committee.</p><p>Serious offenses categorized into six different classes are to remain under the rigors of the law. However, the panel recommends that procedural and technical lapses falling under two classes should be shifted under the jurisdiction of an in-house adjudication system. This move is directly aimed at reducing the number of prosecutions filed with the Special Courts.</p><p>A move to simplify the resolution of minor technical and procedural offenses has been settled pretty well by suggestions of the committee. Apart from this the committee also stresses that they wish to simplify compoundable offenses as well. Suggestions from the panel request for the following changes:</p><ul><li>16 out of 81 compoundable offenses to be recategorized</li><li>Shifting the jurisdiction of said 16 offenses from Special Courts to an in-house adjudication system</li><li>Compundable Offences Jurisdiction shifted from Special Courts to 'in-house E-adjudication framework wherein defaults would be subject to levy of penalty by the authorized adjudicating officer (Registrar of Companies)"</li><li>Remaining 65 offenses to stay under Jurisdiction of Special Courts to prevent potential misuse.</li><li>Status Quo for non-compoundable offenses which are in relation with serious violations</li><li>Instituting a transparent Online Platform for E-adjudication and E-publication of orders</li><li>The cross-cutting liability under section 447, which deals with corporate fraud would continue to apply wherever fraud is found.</li></ul><h2> Governance Simplification</h2><p>The government-appointed panel was set up in July of 2018 to review and possibly restructure the current framework for dealing with offenses under the Companies Act, 2013. Apart from restructuring offenses, a sincere attempt is being made for ease of doing business, simplifying compliances along with smoother governance process for corporations. </p><p>The committee has a radical and comprehensive array of changes in mind related to governance as well as disclosure of corporate affairs. Here we list down some of the changes suggested for easier governance of companies.</p><ol><li>De-registration of Companies on non-maintenance of Registered Office.</li><li>Disqualification of Directors continuing their directorship beyond permissible time period. A capping of director's remuneration can be done on a percentage of income earned basis</li><li>Enabling the Central Government with the power to approve the altering of a Companies Financial Year with the under section 2(41) of Companies Act, 2013</li><li>Giving Central government the power of approving the conversion of Public companies into Private companies under Section 14 of the Companies Act, 2013</li><li>In a pursuit to deal with the menace of Shell companies, The panel suggests reintroducing the declaration of Commencement of Business</li><li>A greater extent of disclosures with regards to public deposits.</li><li>Reducing Time Limits on filing documents for satisfaction, modifications, and creation of Charges. </li></ol><h2><span>Conclusion</span></h2><p>It is refreshing to see the government making conscious attempts to streamline the judicial processes for corporations. These suggested changes, if implemented correctly, can really help revolutionize corporate law in India. Whether or not these changes will be implemented correctly or will be implemented at all, remains an unsolved mystery like most radical changes government seems to suggest. A judicial system, corporations, and wrongly accused individuals all watch with a hopeful eye as these changes unfold.</p><p> </p><p>Author Info- This article is contributed by Hardik Vats who is a Content Writer at <a href="https://www.legalraasta.com/"><span>LegalRaasta</span></a>.</p><p> </p></div>GST: Good for Taxpayers, Bad For Government?https://globalriskcommunity.com/profiles/blogs/gst-good-for-taxpayers-bad-for-government2018-09-17T12:41:14.000Z2018-09-17T12:41:14.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><p style="font-weight:400;"><span>Many might be unaware, but the idea of implementing GST in India was introduced under the leadership of the Late Shri Atal Bihari Vajpayee. He appointed an Empowered Committee(EC) in the year 2000, and the committee was tasked with drafting the GST laws. Their and several other's efforts combined finally came to fruition in the year 2017 with the adoption of the Good and Services Tax(GST) Act, 2017. Following the 1st of July, 2017, GST has been in full operation and it seems to have restored order to the taxation system in India. </span></p><p style="font-weight:400;"><span>GST is basically an indirect tax replacing most of the indirect taxes that are levied in various stages of production of goods and services. In this way, GST becomes an indirect tax for the whole country. GST basically aims at removing the cascading effect of taxes. Cascading effect is basically the additions and accumulation of taxes at each level of production of a good/service.</span> </p><p style="font-weight:400;"><span>The system of<a href="https://www.legalraasta.com/gst-return/"> GST return </a>and compliances were a bit baffling and confusing to the taxpayers at first. This statement comes not from the writer's perspective but straight from the mouth of the Principal Cheif Minister of Central Taxes Mr. AK Jyotishi. He says " We do accept the fact that GST initially had several glitches and had created complexity in complying with it ". Now, the government claims to have straightened out the flaws and glitches with the statement from Jyotishi adding "a sizable chunk of the hitches stands removed".</span></p><p style="font-weight:400;"><span> </span></p><p style="font-weight:400;"><strong>GST Revenue and Surrounding issues</strong></p><p style="font-weight:400;"><span>The government has gone as far as to say that there has been a voluntary compliance and great response to GST after it's initial stages leading to a rise in the tax base from 60 lakh Crores to 1.10 crore Crore rupees. This sounds great for the government but only on paper. The tax base increase can be accredited to the inclusion of many sectors in GST who were previously excluded.GST integration and application has surely helped taxpayers with filing their taxes and smoother compliances.</span></p><p style="font-weight:400;"><span>Present numbers, however, paint a picture of grim reality and realization for the government. The government had offered to provide compensation for 5 years because of the losses incurred by state government due to the implementation of GST, a good move by the central Government helping state governments consolidate the law till the grass root levels.</span></p><p style="font-weight:400;"><span>However, recent realizations and evaluations have left the Central government dissatisfied with the low revenue figures of the GST regime. The bi-monthly compensation for the months of June and July 2018, rose to as much as 3.8 times of that for the months of March and April 2018. the central government is also constantly falling short of their set target of 1lakh crore. The government, however, present a strong front and claim that they have eliminated implementation errors and are also "better equipped to deal with defaulters" which sounds like a hollow statement considering current events. In this regard, the Central Government is formulating strategies and hoping state governments will help identify flaws within the current system.</span></p><p style="font-weight:400;"><span> </span></p><p style="font-weight:400;"><strong>THE STEPS OF RECOVERY</strong></p><p style="font-weight:400;"><span>The PTI(Press Trust of India) also was told by a high-ranking official that the government needs to devise a strategy to shore up the GST revenue. The source also bemoans at a lack of a set pattern for paying the compensation to individual states.</span></p><p style="font-weight:400;"><span>The government, however, isn't just sitting quietly and watch as they fail to gather appropriate revenue. GST is set to undergo radical changes in the coming times.</span></p><p style="font-weight:400;"><span>Here are some of the reforms government are planning:</span></p><ul><li style="font-weight:400;"><span>Deploying anti-invasion measures with a focus on top 30 taxpayers. Data Analytics will be used to profile top 30 taxpayers and look at their tax payments before and after the implementation of GST</span></li><li style="font-weight:400;"><span>Assuring businesses of all kinds that they would try to put a curb on being intrusive with businesses</span></li><li style="font-weight:400;"><span>Reforming the current 5 slabs of GST to cut down slabs to just two.</span></li></ul><p style="font-weight:400;"><span> </span></p><p style="font-weight:400;"><strong>Conclusion</strong></p><p style="font-weight:400;"><span>Thus, in conclusion, the GST Act has been a welcome change to the taxation regulations in India. However, even after getting past the confusion and challenges of implementation, the government is yet to get a firm grip on the tax-structure of GST and like any other radical change, GST has to be steered to success with gentle care.</span></p><p style="font-weight:400;"><span> </span></p><p style="font-weight:400;"><span><i>This article has been contributed by Sarubpreet Kaur who is a content writer with <a href="https://www.legalraasta.com/">LegalRaasta</a>. Legal Raasta is an online portal that assists companies and startups with <a href="https://www.legalraasta.com/private-limited-company-registration/">company registration</a>, <a href="https://www.legalraasta.com/gst-registration/">GST registration</a>, <a href="http://fssaifoodlicence.com/">Food License</a>, <a href="https://www.legalraasta.com/trademark-registration/">Trademark registration</a>.</i></span></p></div>Proposed Changes in GST Formhttps://globalriskcommunity.com/profiles/blogs/proposed-changes-in-gst-form-12018-09-17T08:40:13.000Z2018-09-17T08:40:13.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><p class="Textbody">August 7th Tuesday, the Lok Sabha passed 4 new bills in an attempt to GST procedures with a focus on empowering the MSME(Micro, Small and Medium Enterprises) sector. The government is also targeting to plug loopholes in existing laws and lightening<span> </span><a href="https://www.legalraasta.com/file-roc-compliance-for-private-limited-company/"><strong><em>ROC</em></strong><strong><em><span> </span></em></strong><strong><em>compliances</em></strong></a><span> </span>requirements described as ‘complex’ by many a business owners. The new return filing system is expected to be put in place by the revenue department by January 2019 and would actively replace the current GSTR-3B and GSTR-1 returns.</p><p class="Textbody">In addition to these, an attempt has been made for the empowerment of digital payments such as UPI with incentives via cashback offers. The Lok Sabha also facilitated changes in GST return filing forms and also helping in reducing the frequency of return filings for businesses. The bills passed by the Lok Sabha are</p><p class="Standard"></p><p class="Standard">• Central GST(Amendment) Bill, 2018</p><p class="Standard">• Integrated GST (Amendment) Bill, 2018</p><p class="Standard">• Union Territory GST (Amendment) Bill, 2018</p><p class="Standard">• GST (Compensation to States ) Amendment Bill, 2018</p><p class="Standard"></p><p class="Textbody">This article will focus on the proposed changes in the GST forms.</p><p class="Textbody">Filing returns and payment of taxes had become a little tedious and complex. Aimed at addressing this issue and to bring about simplicity, the government has decided to bring in Sahaj and Sugam the simplified GST forms to achieve ease of going about business.</p><p class="Textbody"></p><p class="Textbody">The finance Minister Piyush Goyal was quoted as being intent on empowering the MSME sector and said: “The proposed new return filing system envisages quarterly filing of return and tax payment for small taxpayers along with minimum paperwork". The government also aims at simplifying the procedures for<span> </span><a href="https://www.legalraasta.com/msme-registration/"><strong><em>MSME registration</em></strong></a><span> </span>by incorporation of the comprehensive SPICe forms.</p><p class="Textbody"></p><p class="Textbody">Along with these changes, the government has also modified the due date for final GST sales returns to 11th of the succeeding month. (applicable for companies with turnovers exceeding 1.5 Crore Rupees.) The single return process will continue to have dates of filling vary based on the turnover of the company.</p><p class="Textbody">The simplified<span> </span><a href="https://www.legalraasta.com/gst-return/"><strong><em>GST</em></strong><strong><em><span> </span></em></strong><strong><em>return</em></strong><strong><em><span> </span></em></strong><strong><em>filing</em></strong></a><strong><em><span> </span></em></strong>forms have prospects for:</p><p class="Textbody"></p><p class="Textbody">1. Reducing Confusion among Taxpayers</p><p class="Textbody">The government plans to introduce a modular approach in which the aim is to introduce many business types into a simple form. Various modules in one common return will facilitate the filing process for eg. One for traders and one for exporters. The one form approach will help taxpayers pick and choose their type of business module and go to a section which remains relevant to other traders. According to the finance minister “This kind of a modular approach will help significantly in improving the compliance process too”.</p><p class="Textbody"></p><p class="Textbody">2. Decreasing the number of returns from 36 to 12 a year.</p><p class="Textbody">Return filings frequency will drop and single return procedures will be introduced per monthly basis to help facilitate the compliance process.</p><p class="Textbody"></p><p class="Textbody">3.One-Monthly return</p><p class="Textbody">Barring a few exceptions like composition dealers, all taxpayers shall file one monthly return. Return filing dates would be stacked on the basis of the turnover of the designated individual to manage load on the IT system. The facility of filing quarterly returns can be availed by composition dealers and dealers having no transactions.</p><p class="Textbody"></p><p class="Textbody">4.Unidirectional Flow of Invoices</p><p class="Textbody">Invoices can be uploaded at any time of the month in a unidirectional manner by sellers. These invoices can serve as valid documents to avail input tax credit by the buyer and buyer also has the provision of being able to see uploaded invoices during the month continuously.</p><p class="Textbody"></p><p class="Textbody">5. Simple Return Design and Easy IT interface</p><p class="Textbody">Invoice-wise descriptions of outward supply made by B2B dealers have to be maintained and the system will be able to calculate the tax liability automatically. Taxpayers will also be facilitated with a user-friendly interface and offline tools to upload invoices. Input tax credit will be calculated by an automated process as well.</p><p class="Textbody"></p><p class="Textbody">6. No automatic reversal of credit</p><p class="Textbody">In the case of non-payment of tax by the seller, automatic reversal of input tax credit from buyer has been prohibited. Options have been put in place to make recovery of defaults in payment of tax by the retailer. In addition to this, however, special provisions have been made to address exceptional situations like the closure of Business, missing dealer or supplier lacking assets to return due payment.</p><p class="Textbody"></p><p class="Textbody">7. Process for recovery and reversal</p><p class="Textbody">Issuing of notice and order will be done in an online and automated process to reduce the human interface.</p><p class="Textbody"></p><p class="Textbody">8. Supplier Side Control</p><p class="Textbody">Sellers who have defaulted in payment of taxes above a certain threshold will be blocked from raising invoices to avoid misuse of input tax credit facility. Safeguards like these will be deployed for new dealers as well as addition, analytical tools would be employed to prevent loss of revenue.</p><p class="Textbody"></p><p class="Textbody">9.<span> </span><strong>Transition</strong></p><p class="Textbody">Transition to the new system will be achieved in three stages.</p><p class="Textbody">Stage 1: Filing of return GSTR 3 B and GSTR 1.</p><p class="Textbody">Stage 1 cannot exceed 6 months</p><p class="Textbody">Stage 2: Invoice wise data upload facility and claiming input tax credit on self-declaration basis</p><p class="Textbody">Stage 3: Deployment of the new forms and single return system</p><p class="Textbody"></p><p>Thus, the proposed changes in the GST forms come as a relief to the MSME sector traders in simplifying compliance requirements for filing tax returns.</p></div>Zero to $50M – A Roadmap of the Key Stages, and How to Win at Each Stagehttps://globalriskcommunity.com/profiles/blogs/zero-to-50m-a-roadmap-of-the-key-stages-and-how-to-win-at-each2018-03-19T03:01:27.000Z2018-03-19T03:01:27.000ZEnrique Raul Suarezhttps://globalriskcommunity.com/members/EnriqueRaulSuarez<div><p></p><p></p><h1 class="entry-title" style="text-align:center;"><a href="{{#staticFileLink}}8028273285,original{{/staticFileLink}}"><img width="380" src="{{#staticFileLink}}8028273285,original{{/staticFileLink}}" class="align-center" alt="8028273285?profile=original" /></a></h1><h1 class="entry-title" style="text-align:center;">Zero to $50M – A Roadmap of the Key Stages, and How to Win at Each Stage</h1><div class="meta"></div><div class="meta" style="text-align:left;"></div><div class="meta" style="text-align:left;"><h2 style="text-align:center;">By David Skok</h2><p style="text-align:center;">ForEntrepreneurs</p><p style="text-align:center;"></p><h2>There are seven key stages in a startup’s evolution from $0m to $50m in revenue. Understanding where you are in that evolution, and how to act at each stage is critical for success, as what is appropriate at one stage is not appropriate at another stage.</h2><h2>In my talk at <a href="https://www.saastrannual.com/" target="_blank">SaaStr 2018</a>, I will lay out the roadmap, and detail the keys to success at each stage.</h2><h2>The talk is aimed at technical/product founders plus their sales, marketing & product executives who are responsible for the go-to-market strategy for their company.</h2><h2>You can download the PP presentation in the below link:</h2><p><a href="{{#staticFileLink}}8028273298,original{{/staticFileLink}}" target="_blank">zeroto50mupdated2-180205163357.pdf</a></p><p></p></div><div class="meta" style="text-align:left;"></div><div class="meta" style="text-align:left;"></div><div class="meta" style="text-align:left;"></div><div class="meta" style="text-align:left;"></div><div class="meta" style="text-align:left;"></div></div>Do you need to build your Company into a Results Driven, Cash-Generating Machine?https://globalriskcommunity.com/profiles/blogs/do-you-need-to-build-your-company-into-a-results-driven-cash2017-02-15T20:43:08.000Z2017-02-15T20:43:08.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p><font size="4"><a href="{{#staticFileLink}}8028250852,original{{/staticFileLink}}"><img width="240" class="align-full" src="{{#staticFileLink}}8028250852,original{{/staticFileLink}}" alt="8028250852?profile=original" /></a>Do you need to raise substantial amounts capital?</font> <br /> <br /> Commonwealth Capital has created the Sprocket Network™ to help cultivate quality deal flow for their V. C. Fund, Commonwealth Capital Income Fund - I & II.<br /> <br /> <strong><big><font size="4">What can Sprocket Network™ do for you?</font></big></strong> <br /> <br /> Sprocket can help you become more appealing to investors, partners, management and sales distribution channels. <br /> <br /> The Sprocket Network™ will take you on a journey of engineering your start-up or early stage company in a manner that mitigates operational, regulatory/litigation and financial risks, and further optimizes the potential return for investors, all with a handful of easy applications and practices that are not available anywhere else.</p><p><a href="https://www.SprocketNetwork.com" target="_blank">https://www.SprocketNetwork.com</a></p></div>Crowdsourced Incubation, Social Proof and Venture Capital Specifically for Startup and Early Stage Companieshttps://globalriskcommunity.com/profiles/blogs/crowdsourced-incubation-social-proof-and-venture-capital2017-01-02T21:22:24.000Z2017-01-02T21:22:24.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p><b>More than just a venture fund or business catalyst, Sprocket allows startups and early stage companies to leverage the power of the crowd. <br /> <br /> Sprocket is the "missing link" in the support of startup and early stage companies. When investors invest, they want to know what kind of safeguards the venture has in place to mitigate risk of loss. When you have what's called "social proof", you help mitigate that risk. Sprocket is the platform to gain social support, and proof for your idea, startup or early stage company. <br /> <br /> Sprocket is a platform and utility that helps cultivate young companies to ensure that these ventures are given the best possible chances of success. <br /> <br /> If you have a venture idea, startup or early stage company, want to work with one, or work to create success for them, set up your professional profile on Sprocket and get involved today! There are loads of Sprocket Professionals, Topics and Ventures coming online as we speak! <br /> <br /> Be among the first wave of members to succeed with Sprocket.</b></p><p><b>Visit:</b> <a href="http://www.sprocketnetwork.com/"><b><font color="#0000FF" face="Calibri">www.SprocketNetwork.com</font></b></a></p><p><b> </b></p></div>Commonwealth Capital Launches New Venture Capital Fund Dedicated Exclusively to Start-up and Early Stage Companieshttps://globalriskcommunity.com/profiles/blogs/commonwealth-capital-launches-new-venture-capital-fund-dedicated2016-09-19T20:11:56.000Z2016-09-19T20:11:56.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p><a href="https://www.commonwealthcapital.co/">Commonwealth Capital LLC</a>, a venture capital management company, announced today that it has launched the <u>Commonwealth Capital Income Fund-I to provide investment capital exclusively for</u> <span style="text-decoration:underline;">startups and early-stage companies.</span></p><p> </p><p> The company also launched a new microsite at <a href="http://www.commonwealthcapital.fund">www.commonwealthcapital.fund</a> to assist capital seekers. Entrepreneurs can sign up now and be matched with a no-cost, personal funding concierge who guides them through a standardized process for fund eligibility.</p><p> </p><p> Users first engage in an online “proof of concept” stage to gain community support for their project, product or service. They then create a marketable deal structure for investors and an operating plan to attract a well-connected management team. After completing these stages, users potentially qualify for an investment from the new Fund.</p><p> </p><p> “Our goal is to give startups a better alternative to traditional venture capital. Our unique combination of a standardized process, no-cost personal funding concierge, and direct investment for those who qualify gives founders a clearer path to build and fund their businesses the right way, the first time,” said Timothy Daniel Hogan, CEO of Commonwealth Capital.</p><p> </p><p><b>About Commonwealth Capital LLC</b></p><p><b> </b></p><p> Commonwealth Capital LLC is a subsidiary of Commonwealth Capital Advisors (CCA). Since 1998, CCA has successfully engaged hundreds of start-up and early stage companies in their quest for raising millions of dollars in capital. As former Wall Street Investment Bankers and experts in compliance matters related to selling securities, the company’s executives are intimately familiar with the criteria employed to successfully raise seed, development and expansion capital. Learn more at <a href="https://www.commonwealthcapital.co/">www.commonwealthcapital.co</a></p><p> <a href="{{#staticFileLink}}8028251652,original{{/staticFileLink}}"><img class="align-full" src="{{#staticFileLink}}8028251652,original{{/staticFileLink}}" width="100" alt="8028251652?profile=original" /></a></p></div>Developing a Risk-Based Company Culture Requires Board Involvementhttps://globalriskcommunity.com/profiles/blogs/developing-a-risk-based-company-culture-requires-board2016-09-08T13:30:00.000Z2016-09-08T13:30:00.000ZSteven Minskyhttps://globalriskcommunity.com/members/StevenMinsky<div><p><br /> Last year, we blogged about <span style="text-decoration:underline;"><a href="http://www.logicmanager.com/erm-software/2015/07/30/erm-program-from-the-ground-up/">how to develop a successful ERM program</a></span>. An important goal is fostering a risk-based company culture. This means everyone, not just the appointed risk managers, assimilates risk awareness and works it into their job description. That said, there are many factors that contribute to a healthy, risk-managing culture.</p><p>One of those factors is board support. We often stress that “front-line” employees (who oversee everyday activities) are a vital yet often overlooked resource for risk identification. A healthy company culture, benefits from top-down involvement. Specifically, “Boards are obligated to be directly involved in strengthening a corporate culture that encourages ethical behavior,” <span style="text-decoration:underline;"><a href="http://blogs.wsj.com/riskandcompliance/2016/03/06/boards-hr-need-greater-roles-in-creating-healthy-culture/">according to the <em>Risk & Compliance Journal</em></a></span>.</p><p><a href="{{#staticFileLink}}8028248660,original{{/staticFileLink}}"><img width="450" src="{{#staticFileLink}}8028248660,original{{/staticFileLink}}" class="align-left" alt="8028248660?profile=original" /></a></p><p>The value of a risk-based company culture is its ability to help achieve both top-down and bottom-up objectives. This eliminates any lack of alignment – the primary cause of wasted resources, missed opportunities, and compliance problems – between senior leadership and front lines. ERM reporting structures also help maintain information integrity when that information is shared cross-functionally. Without a risk-based approach, when information reaches the board it is inevitably summarized across silos and lacks operational context.</p><p>ERM-style reporting requires both information “producers” and information “consumers” (roles that are by no means fixed). A “tone from the top” makes it easier to engage front-line managers by providing context as information moves across the organization. When information is pushed back up, it’s with new insights from those in governance and operations. Providing this context ensures reports are useful and understandable to everyone, including senior management.</p><p>Boards should develop a risk-based company culture first by implementing appropriate information collection and reporting systems. The goal is to make it easy for different levels/silos to escalate information appropriately, which encourages collaboration. Direct interaction with front-line management isn’t practical – or even possible – but nonetheless, <span style="text-decoration:underline;"><a href="http://www.logicmanager.com/erm-software/2016/05/18/increased-board-accountability-is-real/">boards are held responsible for material mistakes and missed opportunities</a></span> that happen at any level.</p><p>These events are also called surprises, and in business, all surprises are bad. A board’s best bet is to ensure quality information is delivered to the right people, at the right time, and with the proper context.</p><p>The best way to quickly and reliably escalate information is with <span style="text-decoration:underline;"><a href="http://www.logicmanager.com/grc-software/risk-management/">risk management software</a></span> that bridges the gaps between departments and levels. ERM software comes equipped a <span style="text-decoration:underline;"><a href="http://www.logicmanager.com/erm-software/product/risk-taxonomy/">taxonomy</a></span> that automatically links risks, requirements, goals, resources, and processes. It also offers email and other system integration, task notification, automatic alerts, and more.</p><p></p><h3><strong><span class="font-size-4">Does a Risk-Based Company Culture Inhibit Value Creation?</span></strong></h3><p></p><p>Some boards have expressed concern that risk management may be just another compliance burden, and that it could hinder effectiveness and innovation.</p><p>As it turns out, organizations with sustainable risk management programs have a proven 25% increase in market value – on average – compared to industry peers without such programs.</p><p>As I discussed in a recent <span style="text-decoration:underline;"><a href="http://blogs.wsj.com/riskandcompliance/2016/06/03/the-importance-of-risk-assessments-in-business-innovation/">article published in <em>The Wall Street Journal’s </em><em>Risk & Compliance Journal</em></a></span>, a risk-based company culture “shouldn’t be stifling anything.” In fact, risk-based concepts like regular risk assessments “should be enabling innovation as they can help better align the company’s goals to its risk management processes.”</p><p>Dr. Paul Walker, professor in enterprise risk management at St. John’s University, <span style="text-decoration:underline;"><a href="http://blogs.wsj.com/riskandcompliance/2016/06/03/the-importance-of-risk-assessments-in-business-innovation/">has heard from numerous executives</a></span> that “to not understand risk is old-fashioned and the wrong way to do business…Risk management leads to value and more disciplined companies that over the long run outperform those that don’t manage risk.” He adds that by better incorporating risk and compliance into business operations, executives have “a better tool set to innovate so they don’t get into those situations.”</p><p>There is a simple way to determine if a board’s focus on risk reduction dampens productivity. Look up a company’s “customer satisfaction, health and safety record over time, qualified audit reports, regulatory sanctions…,” etc. When a company performs well in these categories <em>and </em>emphasizes the measurement of its risk culture, investors should rest assured.</p><p>One last point that’s important to remember: just because a company says its risk culture is healthy doesn’t mean it has strong governance or transcends departments and other working silos. Measure your own organization’s risk management competency with the free RIMS <span style="text-decoration:underline;"><a href="http://www.rims.org/rmm">Risk Maturity Model (RMM)</a></span>, a best-practice benchmarking tool.</p><p></p><p><strong><em>Read our other </em></strong><span style="text-decoration:underline;"><a href="http://www.logicmanager.com/erm-software/2015/07/30/erm-program-from-the-ground-up/"><strong><em>blog post</em></strong></a></span><strong><em> to learn more about building a risk management program that supports innovation. Also, </em></strong><span style="text-decoration:underline;"><a href="http://blogs.wsj.com/riskandcompliance/2016/06/03/the-importance-of-risk-assessments-in-business-innovation/"><strong><em>read what Dr. Paul Walker and I have to say</em></strong></a></span><strong><em> on this topic in our recent interview in </em>The Wall Street Journal.</strong></p><p></p></div>HOW THE FULL-GROWN QUALITY COMPANY DELIVERS SUPERIOR PERFORMANCE AND CUSTOMER BONDINGhttps://globalriskcommunity.com/profiles/blogs/how-the-full-grown-quality-company-delivers-superior-performanc-22016-04-22T12:01:30.000Z2016-04-22T12:01:30.000ZEnrique Raul Suarezhttps://globalriskcommunity.com/members/EnriqueRaulSuarez<div><p></p><p><a href="{{#staticFileLink}}8028250282,original{{/staticFileLink}}"><img width="400" class="align-center" src="{{#staticFileLink}}8028250282,original{{/staticFileLink}}" alt="8028250282?profile=original" /></a></p><p style="text-align:center;" class="center"><strong>HOW THE FULL-GROWN QUALITY COMPANY DELIVERS SUPERIOR PERFORMANCE AND CUSTOMER BONDING</strong></p><p style="text-align:center;" class="center"></p><p style="text-align:center;" class="center">By:</p><p style="text-align:center;" class="center"></p><p style="text-align:center;" class="center"><strong><em>Enrique R. Suarez</em></strong></p><p style="text-align:center;" class="center"><br />International Management Consultant & Professor<br />Master of Education & International Development</p><p style="text-align:center;" class="center"><br /><strong>Harvard University</strong><br />suarezenrique@yahoo.com - <a href="http://www.wix.com/suarezenrique/delta">http://www.wix.com/suarezenrique/delta</a></p><p style="text-align:center;" class="center"></p><p class="left">In the full-grown organization executives have a systems view of their organization. They see interrelationships, not things. They manage things and lead people. Change is a mosaic of processes, methods, materials, equipment, work environment and people. The shifting, understood patterns of change are controlled using statistical theory and other quality tools. Controlled not because someone in upper management is atop all the processes and information, but because:</p><p class="left"></p><p class="left"><em>Customers and their requirements are known;</em></p><p class="left"></p><p class="left"><em>Processes translating those requirements into action are well defined, understood by all, and improving;</em></p><p class="left"></p><p class="left"><em>Self control and management by fact result from having stable processes (under statistical control), systems, institutionalized key measures; and</em></p><p class="left"></p><p class="left"><em>Improvement is continuous--everyone is included and focused on the customer. You can read the rest of this article in the below link:</em></p><p class="left"></p><p class="left"><em><a href="https://www.linkedin.com/pulse/how-full-grown-quality-company-delivers-superior-enrique-suarez-1?trk=mp-reader-card" target="_blank">Superior Performance Link</a></em></p><p class="left"></p><p class="left"></p></div>Navigating the Complex Crowdfunding-Law Changes for Seed, Development, and Expansion Capitalhttps://globalriskcommunity.com/profiles/blogs/navigating-the-complex-crowdfunding-law-changes-for-seed2015-11-14T20:30:00.000Z2015-11-14T20:30:00.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p><a href="{{#staticFileLink}}8028381295,original{{/staticFileLink}}"><img width="241" class="align-full" src="{{#staticFileLink}}8028381295,original{{/staticFileLink}}" alt="8028381295?profile=original" /></a>Timothy Daniel Hogan, chairman & CEO of downtown-Chicago-based Commonwealth Capital, has addressed the complex issues every entrepreneur needs to know when raising seed, development, or expansion capital under the crowdfunding provisions: Title II and Title III of the Jobs Act of 2012.</p><p>Click for your complimentary, abridged edition of his e-book, <a href="http://commonwealthcapital.co/get-your-ebook">The Secrets of Wall Street – Raising Capital for Start-up and Early Stage Companies</a>.</p><p></p></div>START-UP AND EARLY STAGE COMPANIES GET FUNDED BY COMMONWEALTH CAPITALhttps://globalriskcommunity.com/profiles/blogs/start-up-and-early-stage-companies-get-funded-by-commonwealth2015-09-30T23:30:00.000Z2015-09-30T23:30:00.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p><i>Commonwealth Capital is proud to announce a New Venture Capital Fund specifically designed for Start-Up and Early Stage Companies.</i></p><p>We have access to many sources of capital for varying stages of a company’s existence. More importantly, we are looking to invest in start-up and early stage companies through our inaugural venture-capital fund, Commonwealth Capital Income Fund I.</p><p>Unlike most venture-capital firms, we’ve taken the mystery out of the application and funding process. We’re upfront about what we want to invest in and why. Most entrepreneurs will be able to understand our venture-capital-fund model and appreciate the innovative way we reduce risk for our investors. Without this model, there’s simply no way to justify the inherent risk with investing in start-up or early stage companies. </p><p>In addition, we won’t leave you hanging on and frustrated with endless due diligence. Our philosophy is simple. If you can do what we request of you through our process outlined on our website, there’s a very high probability that we’ll invest in your company or find a broker dealer who will. </p><p>No matter what stage your company is in, if you’re in the market for $1,000,000 in short-term capital followed by an influx of a larger amount of temporary, preferred-equity capital, without diluting your ownership interests and voting control… We suggest you watch the multi-media video on our website, read our investment policy statement, and follow the directions to get started in the process. <a href="{{#staticFileLink}}8028235869,original{{/staticFileLink}}"><img width="679" class="align-full" src="{{#staticFileLink}}8028235869,original{{/staticFileLink}}" alt="8028235869?profile=original" /></a></p><p>APPLY HERE: <a href="http://commonwealthcapital.co/entrepreneurs-apply/">http://commonwealthcapital.co/entrepreneurs-apply/</a></p></div>Entrepreneurs do you know what deal structures work in today’s current investor climate and why?https://globalriskcommunity.com/profiles/blogs/entrepreneurs-do-you-know-what-deal-structures-work-in-today-s2015-05-16T21:00:00.000Z2015-05-16T21:00:00.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p>Although there’s an unlimited number of ways to structure a deal, or a securities offering, the use of hybrid securities, such as; convertible notes or preferred stock, enables the entrepreneur to attract investors due to the recent ability to advertise the securities offering and compete with financial institutions for investor capital. Investors in today’s market are seeking short-term investments with relative safety and high yield. If you provide this to the investor community, you will increase your probability of successfully raising all the capital you seek. The beauty of Financial Architect® is that the creation, valuation and pricing of hybrid securities is done quickly, easily and accurately with the use of CapPro™ included in each program.</p><p>Want to know more? Download your <i>complimentary copy</i> of the abridge edition of “The Secrets of Wall Street – Raising Capital for Start-Up and Early Stage Companies”</p><p></p><p><a href="https://commonwealthcapital.co/get-your-ebook/">https://commonwealthcapital.co/get-your-ebook/</a></p><p></p><p> </p><p><b> </b></p><p><b> </b><a href="{{#staticFileLink}}8028235055,original{{/staticFileLink}}"><img width="250" class="align-full" src="{{#staticFileLink}}8028235055,original{{/staticFileLink}}" alt="8028235055?profile=original" /></a></p></div>Entrepreneurs do you know how to easily value your company pre and post money?https://globalriskcommunity.com/profiles/blogs/entrepreneurs-do-you-know-how-to-easily-value-your-company-pre2015-05-09T21:30:00.000Z2015-05-09T21:30:00.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p>Although there’s an unlimited number of ways to structure a deal, there are a limited number of acceptable ways to valuate a company. Wall Street valuates publicly traded companies’ common stock primarily based on “Price Earnings” or PE ratios. Then the company value is arrived at by multiplying the number of total outstanding shares by the price per share, less total liabilities (debt). It would seem impossible to use this method to valuate a privately held start-up or early stage company, since most are “pre-profit” or “pre-revenue,” but it’s not. One simply uses the same metrics with a few adjustments. Valuating start-up and early stage companies pre and post-investment starts with producing 5-year, pro forma financial projections with reasonable revenue and cost assumptions. Once one has arrived at a future value of the company, by multiplying the projected earnings per share based on a PE Ratio against the number outstanding common equity shares, less debt, one simply discounts to that future value (end of 5 years for instance) to the Net Present Value, “NPV.” The beauty of Financial Architect® is that this is done quickly, easily and accurately with the use of CapPro™ included in each program.</p><p>Want to know more? Download your <i>complimentary copy</i> of the abridge edition of “The Secrets of Wall Street – Raising Capital for Start-Up and Early Stage Companies”. </p><p> </p><p><a href="https://www.commonwealthcapital.com/Financial_Architect/">https://www.commonwealthcapital.co</a></p><p> </p><p> </p></div>