Partner Presentation


#1

Just wondering on any pointers as to case studies available anywhere that describe effective ways of expanding a business as I would find this beneficial as would many others in trying to think-tank when it comes to ideas I could apply for the company I have chosen.

Thanks for any help.


#2

The best thing is to pick something easy - something that not just you but everyone else can understand (this instantly rules out any kind of internet company). The best choices are shops, e.g. things that we all use.

Now for example, if Marks and Spencers wanted to expand, what could they do?
Maybe they could:
*Do a shopping delivery service like their competitors
*Expand their financial services to include full banking, insurance etc - it’s a brand that can be trusted.
*It currently has ‘Cafe Revive’ - it’s in store coffee shops- it could expand this chain outside of M&S stores.
*It could develop it’s online service.
*It could revamp it’s clothes section to be more fashionable.
*In times of financial uncertainty (i.e. [[credit crunch effect on audit|credit crunch]]), people buy less house moving stuff e.g. furniture so it could allocate more resources to things people always spend money on, e.g. food.
*Maybe even open up an estate agent for middle class and above properties.

The trick is to have ideas and to be able to talk about why they’d be good.

Hope this helps!
Chris.


#3

Thanks a lot has helped me big time :smiley:

I’ve decided to pick Woolworths as M&S is currently doing really well.


#4

That’s fair. M&S was the example I used because, if you recall, a couple of years back it was really struggling in the wake of better stores. I’m glad it’s back on form too!


#5

Awesome. You working at the moment for any of the firms? I think you should request being a on a pay-roll :stuck_out_tongue:


#6

I was actually but not any more. Did it for a year and decided it wasn’t for me!


#7

quite interesting, which division? Can you describe in details as to what you did and why it was not for you? I know it is mainly “ticking and bashing” but that’s only for just around about two years if not less but what was it that did not fit into your career ambitions?

Your answer might be one of the deciding factors for me as well as to whether to apply BIG4 or not. With my sales background and a bit of banking as well, i am planning get into BIG4.

Perhaps you are now doing some IT stuff?
good luck with whatever you are doing!
thanks


#8

londonbloke - whoever told you “ticking and bashing” it depends on WHAT you are applying for and WHICH company too. for example KPMG in regards to tax are not like the other big 3 firms. do your homework :slight_smile:


#9

so far so good, androme, can you please tell us more about the things trainees do in KPMG tax division? It will certainly be handy for graduates applying KPMG tax. Thanks


#10

I worked in audit in insurance & investment management in London. It wasn’t really for me because it was a very uncreative, uninteresting role. It was long hours, lousy pay and lousy co-workers. Many of the managers lacked any people skills, having been rushed to manager in just a few years. I really wanted to ‘create’ something of my own, and working and training as an accountant, where I thought it was helping me achieve that, was in fact hindering me. The stress of doing something I hated got to me in the end and I resigned about one year into my training contract.

Not to put anybody else off though!

Nowadays I work on this website and I’m considering moving to Edinburgh!


#11

Chris, why did not you get transferred to another division? I guess, you can ask the management to transfer you to other divisions providing you would be doing the same training (ACA or ACCA). Assuming that, there are few people in the same situation at those BIG4s(hopefully not), what would you suggest those trainees to do next? Do they have any chance to make move within the divisions after they sign the contract?
thanks


#12

I told them this early on and asked to be transferred. They wouldn’t allow me to- their excuse: “this is the job you applied for”. Also, my department had a staff shortage so they simply weren’t going to let anyone go because they didn’t like it. They were very inflexible and unhelpful and had they tried to do more I might have stayed.

Incidently, if I were to do it all again, I wouldn’t go into accounting, I’d go into investment banking.


#13

I think, sometimes, investment banking is no better as well. It depends on the situation again, whom you work for and who you work with. A friend of mine, got into an investment bank, after a year or so, he probably did not like the environment and wanted to move on. I think there was no choice other than leaving the bank. He ended up working for another bank quitting his training contract.

it is true that you can move within the bank’s departments during or after your training, that’s what it makes ibanking more interesting and challenging to graduates, oh, better pay as well.


#14

And let’s be honest here, nobody’s interested in either accounting or investment banking for any reason other than money. In light of that aim, it makes the most sense to me to pick the one that pays the most, because the hours will be long and difficult anyway.

If you have a very specific reason for wanting an [[ACA]] or equivalent, or want to be an accountant or financial director then fair enough. If you just want to get paid, accounting isn’t the way forward!

It is worth noting however that qualified accountants do get fairly well paid (in the grand scheme) and, depending on the role, work managable hours.

Personally, I think I’d have issues working iin any large company- I guess I’m too much of a rebel!


#15

In addition to what Chris mentioned above, with ACA qualification, you will have a greater chance to go to investment banking in later (2nd-3rd) yaers of your tenure at BIG4. Not many find it easy to get into Ibanking right after the graduation, so think about doing ACA and later making your way to ibanking. You will probably be working within Back or Middle Office. You can demonstrate excellence if you want to work in Front office.


#16

That’s right… quite a few people go from [[ACA]] to investment banking afterwards, BUT only the best make it that far. IB is difficult to get into at whatever level, with or without ACA.

One thing [[Big 4]] audit is good for is meeting clients. Many of my peers met their future employers while auditing them- so getting a job afterwards was a relatively straightforward affair.