A strategic planning process is something with which we are all familiar, consciously or not. We use it to go from where we are, to where we want to go. It can be a physical destination, like another city, or a goal in life, like doing a master’s degree. We make plans, organize our time and lives, gather … Read more
Exempt vs. Zero Rated (VAT) VAT is the value added tax that is levied on the sale of goods and services. The price of these goods and services includes the value of VAT. There are different types of VAT rates that apply to different types of goods and services. There are also certain goods and services in which … Read more
Not only will the implementation of the Value Added Tax (VAT) in Bahrain change the structure of the small island’s economy, but it may very well have numerous ramifications on its social, political, and legal fronts. A value added tax would help Bahrain deal with the major economic issues plaguing its economy. The money raised … Read more
Introduction Back in 2015, the International Organization for Standardization revised the ISO 9001:2008 standard and gave ISO certified companies up to September 2018 to transition. Therefore, ISO 9001:2008 certificates are not valid anymore. If your company has an ISO 9001:2008 certificate and has not transitioned yet, this article is for you. What are the changes … Read more
We receive a lot of enquiries asking about Business Process Reengineering (BPR), what is it, what is it used for, its benefits, and when or why a company should require such a service. We hope that this article summarizes BPR and its benefits. Business Process Reengineering has become synonymous with upgrading a company’s IT … Read more
The Business Model or Canvas, as it is also known, is a tool that helps starting a proper business. It was developed by the Swiss Alex Osterwalder to facilitate the complete understanding of a business. Thus, the model aims to describe all the elements and phases that make up an enterprise, providing the integration of the organization. According to the tool’s creator, the … Read more
Is an exercise that helps a company make decisions to maximize their profits by comparing the additional benefits and the additional costs generated by increasing their output of the same activity. It measures the increase/decrease in revenue for producing and selling one more unit of item. Where TR= Total Revenue It measures the increase/decrease in total cost of producing one more unit of an item. The formula used to … Read more
There has been a lot of talk lately regarding the deficit faced by the Social Insurance Organization and the impact that such a deficit will have on the pensions of hard working Bahrainis looking to retire in the near future. Ironically, much of the focus has been directed towards the efficiency of the SIO’s … Read more
The success of a manufacturing business primarily depends on the way that the products are costed. There are different kinds of costs involved in a manufacturing organization. Knowledge about the difference between absorption costing and variable costing is essential to do the product costing. Mainly, the costs can be recognized as variable costs and … Read more
So, what is a disaster? A disaster is an event, often unexpected, that seriously disrupts your usual operations, processes and producers, and can have long term impact on your normal way of life or can affect your business. What is Business Continuity Planning (BCP)? Business continuity plan (BCP) is the creation and validation of … Read more