grocery cart with item

Inflation Augur Sees Evidence

Experts

In May 2021, the US Consumer Price Index rose 5% year-on-year (after 4.2% in April 2021).

“Projected over the year,” says Dr. Thorsten Polleit, Chief Economist of Degussa Goldhandel GmbH in Frankfurt am Main, “the monthly increase was 10.1%.”

The price drivers were petrol (+ 2.1% compared to the previous month) and used cars (+ 7.3% compared to the previous month). “Core inflation” (ie consumer goods excluding food and energy) rose by 3.8% year-on-year. The sustained high growth in the money supply in the USA speaks for a high rate of monetary devaluation in the coming months, forsees Thorsten Polleit.

“Inflation will also become increasingly apparent in other currency areas – especially in the euro area. The central banks, which are responsible for the inflation of prices with their flood of money, are continuing their inflationary work”, predicts Thorsten Polleit.

IOD NIGERIA – AFRIKAIROS WORKSHOP

Experts, Read

STAKEHOLDERS’ WORKSHOP ON OPERATIONALIZING SUSTAINABILITY & CIRCULAR ECONOMY: MEASURING, MONITORING, REPORTING, IMPACT INVESTING, ESG RATINGS.

A sustainability report provides information on an organization’s health, including economic, environmental, and social performance against set guidelines or an established framework. Over the past few decades, business performance is increasingly being approached from a multi-dimensional perspective. This is because a pro-active corporate sustainability reporting system for assessing the performance of an organization should address impacts within and beyond the organization on stakeholders, including  the host community, supply chain actors and resulting or associated impacts on people, planet and profits.

The reporting of the business implication of climate change in sustainability reporting becomes even more significant as we celebrate Earth day on April 22nd. The potential financial implications of climate change are receiving increasing attention and recognition, with investors and other stakeholders encouraging companies to identify, assess and report publicly on the financial implications of climate change on their businesses.

This is evident in numerous forums and initiatives, for example the Carbon Disclosure Project (CDP) and Institutional Investor Group on Climate Change (IIGCC) and other initiatives of the World Economic Forum (WEF). With the Increasing public awareness and concern, taking action on climate change is also starting to become a reputational and strategic issue for companies. This then behoves on organizations to be intentional about ensuring the Sustainability reporting is all encompassing. 

In other words, sustainability reporting is an instrument capable of helping companies become aware of their strengths and weaknesses, better manage corporate risk, improve regulatory compliance, innovate and identify potential synergies and interdependencies across their value chain and supply chain. 

The Nigerian Corporate Governance Code includes a comprehensive section on sustainability, and requires that Boards “establish policies and practices regarding its social, ethical, safety, working conditions, health and environmental responsibilities as well as policies addressing corruption.” Boards are also responsible to monitor the implementation of these policies. Sustainability also takes the form of “ESG Ratings”, “Circular Economy Initiatives” and “Integrated Reports”, which introduce environmental, social and governance KPIs to enhance the positive impact that companies have on society. Specifically, the Institute of Directors Nigeria and Afrikairos have been involved in advocating for the adoption of sustainability reporting, and the operationalization of sustainability across business functions, as a core part of the tenets  for good corporate governance. 

With sustainability becoming more institutionalized as part of the corporate governance best practices, and with the Institute of DIrectors (IoD) Nigeria having a significant role to play to raise awareness and build the capacity of its members and non-members to set high standards for sustainability governance in Nigeria, the Institute has partnered with Afrikairos GmbH, supported by Circular Economy Innovation Partnership (CEIP) and Growing Businesses Foundation (GBF), to bring together corporate Nigeria and relevant regulators in a half-day stakeholder workshop. The aim is to provide insight into levels of adoption, interests as well as capabilities within corporate organizations on sustainability reporting. This webinar introduces a range of perspectives on sustainability , circular economy, ESG Ratings and Integrated Reporting and paves the way for a series of future workshops to be delivered by IoD and Afrikairos in Q3, 2021.

Learning Objectives

  • To introduce, identify global trends and emphasize the importance of sustainability reporting, circular economy, integrated reporting and ESG Ratings to Nigerian corporates and corporate governance.
  • To provide tools for directors to meet their sustainability responsibilities
  • To explore how sustainability reporting can be useful to build organizational resilience 
  • To gain insight on the requirements and benefits of sustainability reporting
  • To understand the level of adoption of sustainability reporting by stakeholders in Nigeria 
  • To gain insight on board practice of sustainability reporting: lessons from domestic and international perspectives 
  • To be able to apply concepts of sustainable reporting to address sustainability challenges in organisations
  • To be able to identify, act on, and evaluate professional and personal actions with the knowledge and appreciation of interconnections among economic, environmental, and social perspectives
  • To have a deeper understanding of social responsibility and impact, both as directors and citizens
  • To be able to embrace and improve sustainability and business performance
  • To be able to motivate and engage directors and management towards adopting sustainability reporting and ESG Ratings

Target Audience/Participants

  • Chairmen, CEOs, COOs, Executive and Non-Executive Directors 
  • Company Secretaries, Chief Regulatory Officers and Legal Heads
  • Chief Financial Officers (CFOs), Chief Value Officers  and Heads of Audits & Compliance
  • Chief Human Resource Officers, Chief Marketing /Sales Officers
  • Corporate Affairs Executives and Head of Foundations
  • Sustainability Executives and Heads of Risk/Compliance, etc.
  • CEOs of Supply Chain companies to sustainability-driven corporates

Program Structure and Agenda

Theme: 

Stakeholder Workshop on Operationalizing Sustainability & Circular Economy: Measuring, Monitoring, Reporting, Impact Investing, ESG Ratings.

Date:   Thursday, April 22, 2021 

Time:   3pm-7pm

Venue:   Zoom (Registration link to be provided) 

Expected no. of Participants:  600 participants (Members & Non-Members)

Program Agenda

3pm – 6.30pm

TimeActivityResponsibility
15.00 – 15.05Opening Remarks Moderator/Host:
Dr Ndidi Nnoli-Edozien
Partner, Afrikairos & Chair, Circular Economy Innovation Partnership, Growing Businesses Group
15.05 – 15.15Welcome SpeechChief
Chris O. Okunowo
F.IoD, President/Chairman of Council, IoD Nigeria
15.15 – 15.45Goodwill MessagesDr Dolapo Fasawe
DG Lagos State Environmental Protection Agency (LASEPA)
Saeeda Sabah Rashid
Lead Governance Specialist, World Bank, Nigeria
Prof K. Amaeshi
University of Edinburgh/President, Association of Sustainability Professionals, Nigeria
Iheanyi Anyahara, PhD
FCAActing Executive Secretary/CEO Financial Reporting Council of Nigeria
Dr Innocent Okwuosa 
Chairman, Nigerian Integrated Reporting Committee 
Dr Innocent Onah
Climate & Green Growth Expert, AfDB; Coordinator, Nigeria Circular Economy Working Group

Session I (Corporate Perspective)
15.45 – 15.55Keynote AddressOscar Onyema
DG/CEO, Nigerian Stock Exchange (NSE)
15.55 – 16.55Panel Discussion
Panelist-1Uto Ukpanah 
Company Secretary, MTN Nigeria Communications Plc
Panelist-2Eunice Sampson 
GM/Head, Sustainability, Dangote Cement Plc 
Panelist-3Amaka Onyemelukwe
Director, Public Affairs, Communications and Sustainability, Coca-Cola Nigeria
Panelist-4Omobolanle Victor-Laniyan
Head of Sustainability, Access Bank Plc.
Panelist-5Doerte Weidig
CEO, IPC GmbH 
Panelist-6Clem Ugorji
CEO, Circularium Africa Advisory
Session II (Investors’ Perspective)
16.55 – 17.05Keynote AddressPatrick Kabuya
Convener, Africa Integrated Reporting Council, Senior Governance Specialist, World Bank.
17.05 – 18.05 Panel Discussion
Panelist-1Kola Aina
General Partner, Ventures Platform
Panelist-2Agharese Onaghise
Executive Secretary/CEO, Food and Beverages Recycling Alliance (FBRA)
Panelist-3Dr Oliver Everling
CEO Rating Evidence, GmBH, Europe 
Panelist-4Benedikt Hoffmann
Managing Partner, Afrikairos
Panelist-5Gerritt Ledderhof
Team Lead, Climate and Responsible Investment, Aegon Asset Management, Netherlands
Panelist – 6Folashade Ambrose-Mebedem
Rising Tide Africa, Sustainable Development Director, Lafarge
18.05 -18.25Comments, Questions and Answers (coordination of chatroom)Dr Natalie Beinsich
ED CEIP
Way forward
18.25 -18.30Prof Nat Ofo
F.IoD, Chairman, Research & Advocacy Committee, IoD Nigeria
18.30 – 18.35Saeeda Sabah Rashid
World Bank Representative
18.35 -18.40Prof Kenneth Amaeshi
Chair in Business and Sustainable Development, University of Edinburgh
18.40- 18.45Prof Chukwumerije Okereke
Professor of Environment and Development in the Global Development Research Division and Department of Geography and Environmental Science at the University of Reading, United Kingdom
18.45- 18.50Prof Serge Miranda
Professor of Computer Science at the University of Nice Sophia-Antipolis, France
18.50 – 18.55Dr Ndidi Nnoli-Edozien
Partner, Afrikairos & Chair Circular Economy Innovation Partnership
18.55 -19.00Closing Remarks/ Vote of ThanksDele Alimi
M.IoD Director General/CEO, IoD Nigeria
ancient architecture archway building

Clever Commission From the City of Münster in Westphalia

Agencies, Analysts, Authorities, Experts

An automated safety net for municipal investments has not existed since 2017.

If municipalities do not want to set up extensive bond research departments themselves, in which financial analysts examine thousands of qualitative data and annual financial statements from issuers of financial products, the municipalities depend on the independent judgments of reliable credit rating agencies and specialists. The scandal of the Berlin rating agency Scope around the Greensill Bank in Bremen shows the billions in consequences of an embellished credit rating (see Börsen-Zeitung).

The city of Münster in Westphalia did not rely on the judgment of a rating agency registered in the European Union – the process in itself is a disgrace not only for the local rating agency Scope Ratings in Berlin, but also for the European Securities and Markets Authority in Paris, because far away in Paris are the supervisors, who already had internal compliance reports, transparency reports and notifications about the processes in Berlin. There was no lack of information.

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serious student surfing laptop during studies with classmate

Top Grade for the Distance University Run by the Rating Expert

Education, Experts, Universities

Prof. Dr. Ottmar Schneck, Rector of the SRH Fernhochschule:

“WOW – we did the triple! Three times in a row we have now received the coveted ‘Most Popular Distance University’ seal from ‘Distance Learning Check’ (Siegel ‚Beliebteste Fernhochschule‘ von ‚Fernstudium Check). We are very pleased to be able to hold this award from our students in 2021 as well. It confirms that our students appreciate our quality standards and our outstanding service and once again rate them very well. “

In the rating industry, Prof. Dr. Ottmar Schneck is well known. What many do not know: He is the founder of the rating agency in Germany, which is recognized as a registered credit rating agency under the supervision of the European Securities and Markets Authority (ESMA) and is now active in many European countries, including Switzerland. Prof. Dr. Ottmar Schneck is not only familiar with grades at schools and universities, but also with the “grades” for companies that are called “ratings” on the capital markets.

With the FernstudiumCheck Award “Most Popular Distance University”, students were able to rate their course for a year. 1 (= poor) to 5 (= very good) stars could be awarded for course content, supervision and six other criteria. Whether the students recommend their distance learning and how many students have rated their distance learning are also included in the ranking.

Prof. Dr. Ottmar Schneck

844 students at the SRH Fernhochschule confirm that the most popular long-distance university in 2021, with 4.46 stars and a recommendation of 98%, should continue to accompany their students on their carreer paths in the best possible way.

“This year has once again shown the advantages of digital distance learning. I was able to continue my studies at the SRH Fernhochschule flexibly and without major restrictions despite Corona. The practical experience has advanced me professionally and helped me to get through this time full of challenges. Thank you for a great year and I’m looking forward to 2021!” This is a quote from a satisfied student.

In 2021, even more courses than in previous years were able to enjoy a particularly large number of positive reviews and a very high recommendation rate. Many courses even achieved a recommendation rate of 100%.

symbol of european union on banknote

Sigmar Gabriel Explains to Moody’s the Euro as a Question of Sovereignty and Security

Experts

Moody’s Credit Trends 2021 Germany & Austria

“As last year has shown, a global pandemic can turn everything upside down,” says Jens Schmidt-Bürgel in an interview with Sigmar Gabriel and starts talking about the greatest challenges facing the new administration in the USA. Sigmar Gabriel is the keynote speaker at Moody’s conference “Credit Trends 2021 Germany & Austria edition “.

Sigmar Gabriel

was Germany’s Minister for Foreign Affairs from 2017 to 2018. Born in Goslar in 1959, Sigmar Gabriel studied politics, sociology and German at the University of Göttingen. In 1987 he passed the second state examination as a grammar school teacher and worked as a teacher in adult vocational training until 1990. In 1977 Sigmar Gabriel has become a member of the Social Democratic Party of Germany and was its chairman from 2009 to 2017. After several different positions within his party in Lower Saxony, Gabriel was Prime Minister of the State of Lower Saxony from 1999 to 2003. From 2005 to 2009 he was Federal Minister of the Environment and from 2013 to 2017 Sigmar Gabriel was Federal Minister for Economic Affairs and Energy. He was Vice Chancellor of Germany from 2013 to 2018 and Germany’s Minister for Foreign Affairs from 2017 to 2018. Sigmar Gabriel is chairman of the Atlantik-Brücke e.V., member of the Trilateral Commission and the European Council of Foreign Relations. He is also a member of the board of trustees of the International Crisis Group and the Deloitte advisory board. Since May 2020 he is member of the supervisory board of Deutsche Bank. Sigmar Gabriel teaches at the University of Bonn and spent a research period at Harvard University in autumn 2018.

Sigmar Gabriel sees measures to lead America back into the world of its partners. Joe Biden wants to show that Americans are back in international politics. There were never any true allies of China or Russia, but the United States was able to forge alliances. Joe Biden knows that even a country as large as the USA needs partners. Sigmar Gabriel sees this as an opportunity for international organizations as well.

Jens Schmidt-Bürgel questions whether Joe Biden will be able to reunite the country. The split in American society did not begin with Donald Trump, says Sigmar Gabriel. He sees Donald Trump more as a symptom of this split, which began earlier. Even with a four-year term in office, this split cannot simply be reversed. If the president is too absorbed in domestic affairs, he cannot appear in foreign affairs the way he used to.

The country with the “American dream” now has the lowest social mobility. In order to predict the life path of a child, it is now sufficient to look at the life path of the parents. The worst sentence by Hillary Clinton in her election campaign was to speak of the “deplorables“, which showed a contempt for people that accelerated the influx of Trump.

The USA sees China as its big competitor. The Europeans, on the other hand, see the Chinese as the “frienimies”, friends and opponents at the same time. In all policital parties in the USA, however, China is seen as the strategic opponent for US supremacy in the world. 600 years of centering on Europe are over, the axes of power have shifted. Barrack Obama spoke of the transpacific, instead of the transaltantic nation USA. The US aircraft carrier departed from the Atlantic for the Pacific.

Not Europe, not the Europeans, are filling the power vacuum left by the USA in the Middle East or North Africa, but authoritarian regimes. The American perspective has changed and it remains that way. Europeans have a different view of China, as Europeans also criticize unfair trade. For the US, however, trade liberalization resulted in the rise of China. Most of the people live in the Indo-Pacific region, and most of the world’s national product is generated. This is another reason why the USA is concentrating on this area and less on Europe.

In order to take relations with the USA to a new level, Europe must stop holding the USA responsible for everything. Sigmar Gabriel suggests that under the Trump administration it was easy to put the blame for all of the grievances on the United States. Many of Europe’s problems have nothing to do with the USA. Europe needed more effort. It could not be that French soldiers fight while German soldiers just take photos.

Jens Schmidt-Bürgel

is Geschäftsführer (Managing Director) of Moody’s Deutschland and Country Manager for Germany, Austria and Switzerland. In this role he oversees the outreach activities in these countries and acts as senior point of contact to issuers and other market participants. He is also the Head EU-27 focusing on the strategic direction and oversight of Moody’s Investor Service (MIS) 8 offices in the region. In this capacity Jens works closely with the local Country Managers in each of EU-27 offices and is responsible for promoting the Moody’s brand, establishing and maintaining strong relationships with key capital market participants, associations, regulators and government officials. Prior to joining Moody’s in 2015, Jens was a Managing Director at Fitch Ratings in Frankfurt and as country head responsible for business and relationship management in Germany, Austria and Switzerland. He also oversaw Fitch’s operations in Warsaw and the representative office in Stockholm. Jens holds a dual degree in European Business Administration from ESB Reutlingen and Middlesex University Business School. In addition, he has an Executive MBA from WHU-Otto Beisheim School of Management and Kellogg School of Management.

Why don’t we do a big joint project on hydrogen technology, asks Sigmar Gabriel. North stream, but also other pipeline deals with Russia were repeatedly sanctioned by the USA. Ronald Reagan, on the other hand, had the foresight not to burden relations with Europe because of this dispute. How do you deal with Iran? Could new disarmament offers be made with Russia? This is where the Europeans themselves should take the initiative.

Jens Schmidt-Bürgel asks about Europe’s lack of presence on the world stage. Sigmar Gabriel doubts that there is already an awareness in Europe of what is at stake for Europe. A new Federal Chancellor must first work out his standing. As in France, the German Chancellor would also be preoccupied with himself in the next few years. Sigmar Gabriel therefore warns against the hope that the two leading nations in Europe would quickly change the situation. The European Recovery Program, which requires more common policies, is within the realm of possibility. That is much more than a European army if the euro can be turned into an international reserve currency. If Europe continues to depend on the US dollar, there will be no sovereignty. A European Security Council could take a common look at the world. Sigmar Gabriel gives the example of Libya, where European partners support different parts of the civil war. Working together is important. Emmanuel Macron even suggested including the British, even though they were not part of the European Union. Central and Eastern European partners must be shown that the Europeans jointly take responsibility for the security of these countries.

Sigmar Gabriel recalls the agreement with Iran. The USA forbade business with Iran, so that not even a small Volksbank would have dared to do even one euro deal with Iran, because ultimately everyone was refinanced in US dollars. Sigmar Gabriel believes that security policy can sooner be made in the fiscal union. The dependence on the US dollar is a bigger problem than the risk of debt. The model of Switzerland, economically successful, politically neutral, is unthinkable for Europe as a whole.

Jens Schmidt-Bürgel addresses the delay in digitization and asks whether Europe is prepared for the challenges. Sigmar Gabriel sees the economic success model that Germany produces the best machines as no longer sufficient, because now it depends on the data. The classic, export-oriented model no longer works, so that Germany degenerates into a mere workbench. The increased complexity of planning processes in Germany is a problem. Africans criticize that at the time when Germans are building a cycle path in Africa, China has already completed two airports for Africa. If the whole world becomes poorer as a result of the pandemic, the damage will not be made good by the state doing everything somehow, but it depends on the private sector. The framework conditions would have to be set accordingly.

Civil Address

Advisors, Analysts, Clients, Data, Experts, Investors, Read

Every rating has to start with the unequivocal identification of people. It is not just about the identity of debtors and their civil address registration, but also that of managers in companies such as board members, or who else is responsible for a legal entity. In order to enforce claims against a natural person, in most legal systems around the world the address at which a person is registered is important. A personal guarantee from a managing director is worthless to creditors if their whereabouts cannot be determined or if an alleged address proves to be incorrect.

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General Approach to Find a Current Address for Someone

A general approach to find a current address for someone could generate the following data:

  • The person’s private address / current home address, as well as any known old addresses.
  • The social media profiles, if they exist.
  • Photos from the Internet.
  • Access to the email addresses to can the person you are looking for by email.
  • Various user names that are used on the Internet.
  • Also acquaintances, relatives and friends might be shown, which is particularly interesting if you know family members.
  • Current bankruptcy applications or whether there have been ones in the past.
  • Search for the phone number and get the landline number and/or the mobile phone number.
  • Training and employment of the person you are looking for (schooling and academic education)

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Credit Analyst

Advisors, Analysts, Books, Experts

Oliver Everling, Klaus Holschuh and Jens Leker (Editor): Credit Analyst, Oldenbourg Wissenschaftsverlag, Munich, http://www.oldenbourg.de, hardcover, 1st edition 2009, 386 pages, ISBN 978-3-486-58688- 6.

The requirements of Basel II set completely new conditions for the lending business. At the same time, a variety of credit products have become increasingly important on the capital markets, from corporate bonds to securitization. The credit and capital markets are growing ever closer together.

Credit risks must be analyzed and managed – in banks as well as on the capital market. More professionalism protects market participants from the consequences of credit crises. The leading training for credit and capital market specialists in the German-speaking region of the renowned DVFA German Association for Financial Analysis and Asset Management thus continues to gain in importance.

As a professional association of investment professionals, DVFA has been implementing the proven postgraduate program CCrA – Certified Credit Analyst for many years. This encompasses both areas – the classic as well as the capital market-oriented lending business – and thus offers a comprehensive and practice-oriented qualification for specialists and executives.

The book is suitable for preparing for participation in the DVFA program, as a constant companion to the degree program, to deepen DVFA’s other education and training offerings, to complement the training of credit and capital market specialists, to refresh knowledge for practitioners and users generally to expand the financial knowledge of credit analysis skills.

Oliver Everling, Klaus Holschuh und Jens Leker (Herausgeber): Credit Analyst , Oldenbourg Wissenschaftsverlag, München, http://www.oldenbourg.de, gebundene Ausgabe, 1. Auflage 2009, 386 Seiten, ISBN 978-3-486-58688-6.

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Credit Analyst

Advisors, Analysts, Associations, Books, Certifications, Experts, Regulations

Oliver Everling, Jens Leker and Stefan Bielmeier (editors): Credit Analyst, De Gruyter Oldenburg, Walter de Gruyter GmbH, Berlin / Boston, http://www.degruyter.com/, updated and completely revised edition, 3rd edition 2015, 390 pages, ISBN 978-3-11-035379-2.

The escalation of the financial crisis has brought changes in hardly any other area as quickly as in the credit analysis. Basel’s banking regulatory requirements set new framework conditions for banks’ lending business after the financial crisis. At the same time, a variety of credit products have become increasingly important on the capital markets, from corporate bonds to securitisations. The credit and capital markets are growing ever closer together in the globalization process. Credit risks must be analyzed and managed – in banks as well as on the capital market, with both institutional and private investors. More professionalism protects market participants from the consequences of credit crises.

The postgraduate program CCrA® offers a comprehensive and practice-oriented qualification for banking and capital market credit experts.

The topics range from instruments for the analysis of individual risks to methods of active credit portfolio management. Important topics in the areas of banking regulation and credit research are also covered. In addition, the established rating agency Standard & Poor’s will give a hands-on insight into how they work in a workshop for Classic participants. Practical case studies and eSeminars complete the program. The compact program structure is designed for in-service participation and enables efficient qualification in just five months. Graduates hold the title CCrA® – Certified Credit Analyst.

Oliver Everling, Jens Leker und Stefan Bielmeier (Herausgeber): Credit Analyst, De Gruyter Oldenbourg, Walter de Gruyter GmbH, Berlin/Boston, http://www.degruyter.com/, aktualisierte und vollständig überarbeitete Ausgabe, 3. Auflage 2015, 390 Seiten, ISBN 978-3-11-035379-2.

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China’s Social Credit System

Experts, Histories, Systems, Tools

The Social Credit System (SCS) is perhaps the most prominent manifestation of the Chinese government’s intention to reinforce legal, regulatory and policy processes through the application of information technology, writes Rogier Creemers, Van Vollenhoven Institute at Leiden University. Yet its organizational specifics have not yet received academic scrutiny. He published a paper which identifies the objectives, perspectives and mechanisms through which the Chinese government has sought to realise its vision of “social credit”.

Reviewing the system’s historical evolution, institutional structure, central and local implementation, and relationship with the private sector, he describes the SCS as an ecosystem of initiatives broadly sharing a similar underlying logic, than a fully unified and integrated machine for social control. With regards to big data and artificial intelligence notwithstanding, he sees the SCS as a relatively crude tool.

See his video or read his paper here.

For more historic background information: Oliver Everling, Yan Yin and Yusi Ding (Herausgeber, Associate Chief Editor, http://www.cnis.gov.cn/): Domestic and Foreign Credit Theory Studies and Standardization Practices, Technical Book Series on Standardization of Social Credit in China, Chen, Yuzhong, und Qian, Yumin (Chief Editor), compiled by National Technical Working Group on Credit of Standardization Administration of China (http://www.sac.gov.cn/), China Metrology Publishing House, Beijing, 1. Auflage, August 2010, 420 Seiten, ISBN 978-7-5026-3332-5.

Rating Referral Marketing Businesses

Criteria, Experts, Read

“There is no recognizable path ahead of us, but only behind us,” writes Gabi Steiner in her book “From Person to Person – Earning a Stable Income From Referral Marketing“. Any rating of the future prospects of a business model can only be based on the information that humanity has gathered to date. “Successful people,” Gabi Steiner points out, “act on the basis of verified information. Unsuccessful people act on the basis of unchecked prejudices.”

“It makes me sad when I hear that someone reduces this opportunity to earning money,” writes Gabi Steiner. Rather, she is concerned with ideal values, such as a high degree of freedom and independence, and a way to “make and maintain friendships, get to know other people, customs and, above all, the luxury of ‘time’ for health, family, friends and to have hobbies. “

By referral marketing, she understands “a simple concept to bring products directly from the manufacturer to the consumer, and money that is typically spent on conventional distribution and advertising sales methods is instead paid to those who bring others to the product for their own use.”

With entertaining examples, Gabi Steiner makes it clear that referral marketing is not about sales. Selling is much more the consequence of buying – when it comes to products that are suitable for everyone, this is okay for everybody.

The new information and communication technologies also make a consumer network possible online – with new dimensions for network marketing. For referral marketing, “what’s important, what we really need, what’s in the trend, is an industry with growth potential, with a future.” This is how Gabi Steiner outlines wellness, fitness, health and anti-aging or even “best aging”.

“Network marketing works best,” says Gabi Steiner, quoting Richard Poe, “if you just keep working face-to-face and heart-to-heart with people on a daily basis. The only glue that keeps a network together for a long time consists of friendship, loyalty and personal relationships. ” The perspectives of  computerized distribution channels are therefore limited.

The German pension system of the statutory pension insurance has now more in common with an illegal pyramid scheme than any serious offer in referral marketing. “A pyramid scheme in the unfair sense is given,” says Michael Strachowitz, a well-known network coach, “if the income of the already in the system members from the entrance fees of newly added members is denied, with the result that the system collapses immediately when no new members join. ” A serious system rules out this case.

Gabi Steiner shares in her book with the reader her love for referral marketing, “because it gives every person, regardless of age, gender, occupation, origin, the chance to be successful.” Machines replace muscles, computer brain, exclusively in humans remain emotions. In order to identify successful entrepreneurs – as Gabi Steiner explains using a circuit diagram – the question of the reason for their actions must be asked: “Anyone who has no reason to do something has a reason to do nothing!”

Emotions are transported with stories. Therefore, In Gabi Steiner’s concept stories play a big role, especially autobiographies. The book gives an insight into the “target collage”, as she calls it, of a successful entrepreneur. By giving a dream a date, it becomes a goal. Thinking and acting are components of success, so that there is no failure, but only success that did not occur early enough.

Gabi Steiner writes her book at a time when many people have forgotten to ask about the needs of their fellow human beings. People are already accustomed too much to adopt algorithms on the Internet, to recognize needs and to coat the visitors of websites with advertising. Her motto, on the other hand, is: “Find out what your counterpart wants and help him achieve that.”

Principles and values ​​play a major role. Gabi Steiner: “Paths arise when walking!” Anyone who understands Gaby Steiner’s book has not only learned a wealth of concepts and ideas and gained business insights, but has also acquired criteria for assessing a successful startup, because at its core, it is always about relationships between people. Successful entrepreneurs are people who, as multipliers, move many people – movement in the literal as well as figurative sense. “It’s not enough for something that it merely works, it’s important that it duplicates!”

Gabi Steiner brings to paper an astonishing amount of know-how in referral marketing. The reader may expect color and an entertaining reading that does not tire of scientific footnote apparatuses, but honors the ideas of profiled experts through fair quoting. With original terms such as “vaccination and snails technology”, Gabi Steiner makes it easy for readers to remember the many tools presented in the book. The book is recommended as an introduction and guide to referral marketing.

Practical example:
https://ww1.lifeplus.com/ingridlukas/de/de

Rating Referral Marketing Businesses

Books, Criteria, Experts

“There is no recognizable path ahead of us, but only behind us,” writes Gabi Steiner in her book “From Person to Person – Earning a Stable Income From Referral Marketing“. Any rating of the future prospects of a business model can only be based on the information that humanity has gathered to date. “Successful people,” Gabi Steiner points out, “act on the basis of verified information. Unsuccessful people act on the basis of unchecked prejudices.”

Is referral marketing a way to make money?

“It makes me sad when I hear that someone reduces this opportunity to earning money,” writes Gabi Steiner. Rather, she is concerned with ideal values, such as a high degree of freedom and independence, and a way to “make and maintain friendships, get to know other people, customs and, above all, the luxury of ‘time’ for health, family, friends and to have hobbies. “

By referral marketing, she understands “a simple concept to bring products directly from the manufacturer to the consumer, and money that is typically spent on conventional distribution and advertising sales methods is instead paid to those who bring others to the product for their own use.”

With entertaining examples, Gabi Steiner makes it clear that referral marketing is not about sales. Selling is much more the consequence of buying – when it comes to products that are suitable for everyone, this is okay for everybody.

The new information and communication technologies also make a consumer network possible online – with new dimensions for network marketing. For referral marketing, “what’s important, what we really need, what’s in the trend, is an industry with growth potential, with a future.” This is how Gabi Steiner outlines wellness, fitness, health and anti-aging or even “best aging”.

“Network marketing works best,” says Gabi Steiner, quoting Richard Poe, “if you just keep working face-to-face and heart-to-heart with people on a daily basis. The only glue that keeps a network together for a long time consists of friendship, loyalty and personal relationships. ” The perspectives of  computerized distribution channels are therefore limited.

The German pension system of the statutory pension insurance has now more in common with an illegal pyramid scheme than any serious offer in referral marketing. “A pyramid scheme in the unfair sense is given,” says Michael Strachowitz, a well-known network coach, “if the income of the already in the system members from the entrance fees of newly added members is denied, with the result that the system collapses immediately when no new members join. ” A serious system rules out this case.

Gabi Steiner shares in her book with the reader her love for referral marketing, “because it gives every person, regardless of age, gender, occupation, origin, the chance to be successful.” Machines replace muscles, computer brain, exclusively in humans remain emotions. In order to identify successful entrepreneurs – as Gabi Steiner explains using a circuit diagram – the question of the reason for their actions must be asked: “Anyone who has no reason to do something has a reason to do nothing!”

Emotions are transported with stories. Therefore, In Gabi Steiner’s concept stories play a big role, especially autobiographies. The book gives an insight into the “target collage”, as she calls it, of a successful entrepreneur. By giving a dream a date, it becomes a goal. Thinking and acting are components of success, so that there is no failure, but only success that did not occur early enough.

Gabi Steiner writes her book at a time when many people have forgotten to ask about the needs of their fellow human beings. People are already accustomed too much to adopt algorithms on the Internet, to recognize needs and to coat the visitors of websites with advertising. Her motto, on the other hand, is: “Find out what your counterpart wants and help him achieve that.”

Principles and values ​​play a major role. Gabi Steiner: “Paths arise when walking!” Anyone who understands Gaby Steiner’s book has not only learned a wealth of concepts and ideas and gained business insights, but has also acquired criteria for assessing a successful startup, because at its core, it is always about relationships between people. Successful entrepreneurs are people who, as multipliers, move many people – movement in the literal as well as figurative sense. “It’s not enough for something that it merely works, it’s important that it duplicates!”

Gabi Steiner brings to paper an astonishing amount of know-how in referral marketing. The reader may expect color and an entertaining reading that does not tire of scientific footnote apparatuses, but honors the ideas of profiled experts through fair quoting. With original terms such as “vaccination and snails technology”, Gabi Steiner makes it easy for readers to remember the many tools presented in the book. The book is recommended as an introduction and guide to referral marketing.

Practical example:
https://ww1.lifeplus.com/ingridlukas/de/de