"Human beings have three ways to act wisely," once taught Confucius. "First, by reflection, which is the noblest; second, by imitation, which is the easiest; and third, by experience, which is the bitterest." Is China taking the easiest path? And will it be bitter for Germany? How economic policy and SMEs might react to China’s economic trajectory is discussed by Christian Zeller, partner at enomyc, in this interview.
Many SMEs are being forced to optimize their operational processes due to growing pressure on earnings. What is often overlooked is the overhead area. Experience shows that many medium-sized companies in particular are lugging around unnecessary ballast. Yet there is enormous potential for reducing costs in the overhead area: 15 to 18 percent is not uncommon.
The European Commission wants to ensure greater fairness with a regulation to combat late payment in commercial transactions. It also wants to increase the competitiveness and resilience of SMEs. That sounds good, but it also has its downsides, according to Marc Fahrig and Ralf Ehret. The experts explain what companies should prepare for now.
Disruptive technologies such as genAI are becoming increasingly important in the business world. This presents the upper midmarket segment with the challenge of not only understanding these technologies as a trend, but also applying them in practice in order to best increase efficiency and innovative capacity. Concerns that the barriers to entry are too high for SMEs are unfounded, says head of innovation at enomyc and author, Franz Wenzel.
What do you think: What impact will artificial intelligence have on your life? Do you follow developments with risk appetite or skepticism? One thing is clear: AI is a pioneering technology. It triggers noticeable changes. And it provokes. Even myths. We spoke to Mario Trapp, Partner in Restructuring & Transformation and Head of Digital Strategy, about this. How does he himself use AI in professional practice? Should companies already be hiring Chief AI Officers? And which AI developments make even him uneasy?
EU Supply Chain Act: Are the FDP's veto and timing justified and helpful? What does the economy gain now - apart from perhaps time? We interviewed our new partner Dr. Tim Bauer. He himself comes from a family of entrepreneurs and believes that Regulations have increased significantly in recent years - also in terms of complexity. In addition, the EU Parliament often lacks an eye for SMEs. Why should companies still act proactively now? Why focus firmly on competitive advantages through clean business practices?
New technologies and ground-breaking innovations are topics that most of us would expect to find in Silicon Valley rather than in German SMEs. The long list of German SMEs whose products and solutions are in demand all over the world shows that this is not the whole truth. The secret of their success: above-average innovative strength. The Top 100 competition honours precisely such companies. This year, enomyc is also among the winners.
According to official figures, the turnover of furniture manufacturers and retailers fell by 5 to 7 per cent last year, with a drop of almost 12 per cent for living room, dining room and bedroom furniture. enomyc industry expert Marc Fahrig spoke to Jan Kurth, Managing Director of the German Furniture Industry Association (VDM/VHK) and Markus Meyer, President of the German Furniture and Kitchens Trade Association, about the causes of the crisis, current priorities and new opportunities.
It’s a horror scenario for any company: losing one your highest-revenue customers. The management wants to know how the loss will affect the operating result. The consequences for turnover, inventory, material and personnel costs also need to be identified as quickly as possible. In theory, this is the time for management control. In practice, however, this is often hopelessly overwhelmed.
There is currently hardly a statement from company representatives that does not contain a complaint about the lack of skilled workers and managers. While politicians are endeavouring to make Germany more attractive to qualified people from all over the world, the consequences of the shortage are becoming increasingly noticeable. For experts and business representatives, it has long been one of the biggest obstacles to growth in our country. “Lamenting doesn’t help, we have to take matters into our own hands”, is the credo of enomyc author Wolfram W. Hackbarth. No sooner said than done. He has developed a training programme for his SME customers that prepares career changers for their tasks as specialists and managers in a short space of time.
New kitchen, new bed, new desk: during the pandemic, but also afterwards, Germans have invested heavily in their own four walls. The good mood has now evaporated. In this interview, Marc Fahrig, sector and retail expert at enomyc, explains the reasons behind the turnaround and how retailers and industry can meet the challenges.
Forecasts are difficult, especially when they concern the future. What sounds so flippant and easy is often a great burden in everyday business life, as most decisions have to be made under great uncertainty. Nobody knows what the future holds and which decision will turn out to be the right one in the end. In their article, our enomyc authors Stefan Frings and Mario Trapp show how modern business intelligence and business analytics solutions can also help SMEs to make better-informed and therefore sounder decisions.
