This document provides advice on improving business plan execution by focusing on action over planning. It recommends developing short-term, nimble plans focused on 2-3 priority goals. Formal prioritization methods like the Pareto principle can help identify goals with the biggest impact. Precise execution is key and requires engaging managers through individual goal-setting and linking compensation to strategy achievement. Poor execution often stems from a lack of accountability, distractions pulling focus from the plan, and failure to cascade goals throughout the organization. Aligning corporate social responsibility efforts with business objectives can maximize their value by differentiating the brand and improving customer loyalty.

1. summer 2012
published by
Sikich LLP
Advice & information to help you manage your business
take
action!
Stop writing
plans and start
acting
Plus
Working caregivers | Business in Vietnam

2. Advice & information to help you manage your business
Great Decisions Equal Success Definitely Different.®
The decisions you make as a leader affect every single aspect of your We may not look like your typical
business. They impact all of your stakeholders, the workplace culture and accounting firm. That’s because Sikich is
environment and the company’s bottom line, and continued success relies anything but typical.
upon you making the best possible business decisions.
We understand each business, organization
The process of making great decisions is much more than placing words or phrases and industry is unique and needs to
in a pros and cons list—it’s a two-part process with multiple steps that might seem approach situations differently. For more
tedious but is necessary. The first part involves taking steps prior to making the than 30 years, Sikich has leveraged its
decision: defining the problem or situation, identifying the possible solutions and, business consulting expertise to transform
perhaps most importantly, analyzing those solutions to determine what makes the and adapt to changing times. By setting new
most sense for your business. Without taking the time to go through each step standards for improved performance, we
thoroughly, the risk you take of making an ineffective decision increases. have redefined the way our clients do
The second part of the decision-making process begins with actually selecting the business. Our clients like the convenience of
solution you feel is best for the business. Whether it’s the one that has the most pros working with one partner who is able to
provide a full range of services and
or is most cost-effective, the decision should be one you can communicate to your
appreciate the different voices, views and
stakeholders, implement with few to no problems and evaluate on a regular basis.
perspectives of a team that is focused on
With all the facets of organizations, making decisions that lead to success can be the execution of long-term strategic goals.
challenging. Whether you need to explore decisions related to rebranding your
company, strategize tax planning or revamp an employee recruitment and retention We are ready to make a difference for you.
plan, Sikich offers a multitude of managed services that can help you make great
decisions and guide your company to continued success. • Accounting & Assurance
• Business Software & IT Services
Respectfully, • Business Valuation
• Dispute Advisory Services
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James A. Sikich, CPA • Investment Banking & Corporate Finance
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2 summer 2012

3. volume 12 • issue 4 • summer 2012
Leading Edge
www.LeadingEdgeAlliance.com
contents
The Leading Edge Alliance is an interna-
tional professional association of inde-
pendently owned accounting and con-
sulting firms. The Leading Edge Alliance
enables member firms to access the
resources of a multibillion-dollar global
professional services organization,
providing business development, pro-
fessional training and education, and
peer-to-peer networking opportunities
nationally and globally, around the cor-
ner and around the world. features
Members are quality firms who are suc-
cessful, have deep client relationships,
and strong ties to the community. The
4 Take action
Alliance provides members with an
impressive combination: the compre-
Stop writing plans and start executing
hensive size and scope of a large mul-
tinational company while offering their
clients the continuity, consistency and
quality service of a local firm.
14 Stem the rising cost of working caregivers
Member firms have access to extensive With more Americans caring for an elderly relative,
teams of business advisors—a peer-to-
peer connection that provides the right
workplace support is vital
business solutions for clients.
To find out more about the Alliance,
contact Karen Kehl-Rose, president, at 16 Business in Vietnam
+1 630.513.9814 or kkr@The-LEA.com.
Understanding hiring and investment rules
Leading Edge Advisory
Committee are key to a successful venture
Tricia Egry / Alpern Rosenthal
George Brust /
Lurie Besikof Lapidus Co., LLP
Jen Lemanski / PKF Texas departments
Gary Voth / PKF Texas
Karen Kehl-Rose /
The Leading Edge Alliance
9 Outsource versus in-house:
In affiliation with
How going to the pros can save your company money
Smart Business Content Marketing
www.sbnonline.com
Ann M. Gynn / Editor 10 Building a better business
Danielle Toth / Associate Editor
Stacy Vickroy / Art Director with Microsoft Dynamics AX
Andrea Jager / Graphic Designer
11 Five signs you’re merging with
Leading Edge is published four times per
year by Smart Business Content Marketing,
or acquiring the right company
835 Sharon Drive, Suite 200, Cleveland, OH
44145. (440) 250-7000, (800) 988-4726,
FAX (440) 250-7001, www.sbnonline.com.
Periodicals postage paid at Cleveland, Ohio. 12 Client Spotlight: MRC Polymers / Industry Updates
IRS Treasury Regulations require us to inform
you that any tax advice contained in the body
of this communication was not intended or
written to be used, and cannot be used, by
13 Bits Pieces
the recipient for the purpose of avoiding pen-
alties that may be imposed under the Internal
Revenue Code or applicable state or local tax
law provisions. 18 On the Bookshelf
Leading Edge 3

4. 4 summer 2012

5. cover feature
take
action!
Stop writing plans and start executing
By Leslie Stevens-Huffman
B
usiness planning is an annual rite of passage across corporate America in which executives travel to
a remote location, lock themselves in a conference room and fill a binder with solutions to every
conceivable business challenge. But given today’s turbulent business environment and restricted
resources, the plan often gathers dust on a shelf as execution takes a backseat to the rush of daily
activities.
“When I assess failure in business strategies, very often it’s because the organization never got started; they
never took the first step in the execution process,” says Dave Brock, president and CEO of Partners in
EXCELLENCE, a business consulting firm.
Brock’s observation matches the findings of a survey by Ernst Young that reveals 66 percent of
corporate strategies are never executed. Although the financial fallout of ill-fated plan implementation is
hard to assess, according to Dun Bradstreet, there were 81,616 business failures in the United States
during the 12 months ending September 2010. Experts cite a lack of innovation, market research, sales and
funding and poor cash flow control as common reasons for business demise, but they’re quick to point out
that all of these pitfalls can be avoided by planning. continued on page 6
Leading Edge 5

6. hanging fruit­ the top two or three goals
—
that provide the biggest bang for the buck,”
Hebert says.
Precise and deliberate execution
Jamie Dimon, CEO of JPMorgan Chase,
“A lack of foresight and an once said: “I’d rather have a first-rate
unwillingness to change is why
execution and second-rate strategy any time
than a brilliant idea and mediocre
most mid-market companies fail.” management.”
If managers are the key to execution,
why are so many failing? For starters, it’s
tough work.
continued from page 5
“Execution requires sharp, focused action
Nimble, streamlined plans After listing the pluses and minuses of and dealing with details and dirty realities,
Mega plans were the rage in the 1990s. each goal and conducting a preliminary not the dreams,” Brock says.
Unfortunately, they were usually outdated by evaluation, Hebert recommends a formal An analysis of the reasons for business
the time they were finished, and prioritization methodology called the Pareto plan failure reveals poor execution of basic
implementation was infeasible if not 80/20 rule. The Pareto theory states 80 fundamentals. Although cascading goals and
impossible. A svelte, nimble plan, covering no percent of business problems are based on 20 building mindshare across the enterprise are
more than a three-year horizon, has percent of the causes, so theoretically, regarded as highly effective tactics, few
supplanted the 1990s’ behemoth because it’s resolving the 20 percent improves overall employees have access to the overall plan and
easier to implement and can be adapted on performance. A Pareto analysis utilizes root- fewer still understand it.
the fly. cause identification and a scoring index to The challenge is that employees have to be
Savvy executives build mindshare for their help planners avoid personality conflicts and dissatisfied with their current situation and
ideas from the outset by soliciting input from biased decisionmaking while identifying the understand the consequences of maintaining
various stakeholders during the creative most impactful issues. the status quo before they’re willing to
process. They anticipate the need for For example, if a company wants to undergo change.
accountability by weaving interim action increase sales by improving customer “Everyone has to understand the long-
steps, tangible measurements and required satisfaction, planners analyze customer term ramifications of flat sales or poor
outcomes into every strategy. Finally, they complaints, look for root causes, identify the customer service because you can’t wake up
recognize change is critical so they set the biggest drivers of dissatisfaction and consider one day and change it,” Hebert says. “A lack
stage for an arduous journey by espousing a range of solutions. Opening a call center on of foresight and an unwillingness to change
realistic expectations and acknowledging Saturday mornings might receive the highest is why most mid-market companies fail.”
transformation is difficult but necessary. score if it has the greatest capacity to increase Worse yet, 60 percent of human resources
“A long-term plan is essential because it satisfaction and sales at the lowest cost. and information technology organizations
forces managers to execute strategies that will “Today, companies have limited time and develop departmental plans that aren’t
impact the company down the road,” says resources, so they need to tackle the low- linked to the organization’s strategy, and 60
Byron Hebert, CPA, CTP, director of
Entrepreneurial Advisory Services for PKF
Texas, a member firm of the Leading Edge The impact of poor execution
Alliance. “But for implementation purposes, a
larger plan should be broken down into • 90 percent of well-formulated strategies fail due to poor execution
manageable 12-month segments that focus (Harvard Business School Press).
on the achievement of two to three goals.”
Brainstorming is still the preferred way to • 70 percent of chief executive officer failures come not as a result of poor
get a plethora of ideas on the table, but strategy but of poor execution (Fortune magazine).
selecting the top two or three requires
• 66 percent of corporate strategy is never executed (Ernst Young).
discipline, shrewd evaluations and data-
driven analysis.
6 summer 2012

7. cover feature
percent of companies undermine
accountability by failing to link their
Good deeds
strategies to the annual budget.
Failing to give line managers individual
goals or engage them in the design and
rewarded
implementation process can cause them to
resist change and halt the execution process in Maximize your CSR investments by creating true value
its tracks. Plus, rogue managers are likely to
create incompatible departmental goals if they Executives have traditionally viewed and prospective customers by
don’t understand their role or responsibilities corporate social responsibility as an sponsoring medical research.
in driving the organization’s plan. obligation rather than an opportunity, but Small to mid-size firms can create
Every manager needs a personal one-page
that sentiment is changing amid growing synergistic value by partnering with a local
plan that spells out the current situation and
evidence connecting CSR efforts to nonprofit that has the bandwidth and
his or her 12-month goals and tasks, Hebert
says. Short plans serve as a handy quick bottom line improvements. expertise to turn a community event into a
reference guide and accountability tool by A study by the Network for Business meaningful experience or by offering
allowing executives to conduct random Sustainability suggests that aligning unique pro-bono services to specific
checks and recognize top performers. your company’s CSR initiatives with your segments of the population. For instance,
To facilitate implementation and boost mission and business objectives can a publisher of a science and technology
accountability Hebert advocates an substantially increase customer loyalty. journal provides a school-on-wheels to
adaptation of the plan-do-check-act method,
In fact, a company with a market value children in underserved areas, while the
also known as the Deming cycle, which is a
process used to implement new ideas in a of roughly $48 billion generated faculty at a local business college offers
controlled way. Managers cascade individual $17 million more in average profits in free advisory services to budding
goals to employees, create a list of clearly subsequent years after a modest entrepreneurs.
defined action steps and then check the increase in its CSR ratings.
results. Following the review, managers can “Balancing CSR with business Create positive impressions
stay the course, tweak the strategy or go back improvements can be tricky,” says Eliza Innovative companies have ventured
to the drawing board.
Clark, principal with Paydirt LLC, a beyond standard promotional fare such
Although employees tend to focus on
sustainability consulting firm based in as T-shirts and press releases; they’re
goals and activities that yield personal
rewards, 70 percent of middle managers and Minneapolis. “You have to be completely cutting through the communications
more than 90 percent of front-line employees transparent about your motives and clutter by posting smart phone videos
have compensation that is not linked to the make a concerted effort to emphasize and photos of participants on their
corporate strategy. Providing individual and outcomes.” website and using social media to
team incentives and rewarding employees as broadcast the bona fide impact of CSR
the company passes key milestones helps Take strategic initiatives events. They’re also turning employees
everyone stay enthusiastic and motivated.
Instead of sponsoring 25 random events, into ambassadors by allowing them to
Yet the biggest factor of all may be
large companies are saving money and Tweet and post updates regarding CSR
executive inattention. Executives need to
serve as a catalyst for change by maintaining improving their visibility by funding a few initiatives on Facebook.
their focus and passion until the mission is strategic causes that mesh with their “The problem with taking a traditional
accomplished. business objectives. In some cases, approach to communications is that a
“Poor business plan execution is often they’re leveraging internal marketing press release is neither memorable nor
caused by executive ADD,” says Jay Turo, expertise by aligning their corporate and valuable,” says Clark. “Companies have
co-founder and CEO of Growthink, a CSR brands and eliminating the cost of to be completely genuine and transparent
strategic advisory and investment banking
hiring an outside PR firm. in order to prove they’re making a
firm. “They become distracted by a bright
shiny object, like opening a new market or For example, an agricultural company difference and earn the opportunity to
making an acquisition, and forget to execute.” has joined the fight against hunger while maximize their return on CSR
continued on page 8 a health insurer is appealing to current investments.”
Leading Edge 7

8. cover feature
4
3
continued from page 7
The best strategy implementers know their 1 2
limitations, appoint an executive sponsor for
every major goal and engage cross-functional
execution teams around each strategic
objective and supporting initiative. Team
members double as plan ambassadors who
facilitate communications, foster
intradepartmental synergies and inject a The four phases of the plan-do-check-act cycle
healthy dose of peer pressure.
“The first step is always the most difficult,” Plan: Identify and analyze the problem.
Brock says. “Don’t focus on the entire action Do: Develop and test a potential solution.
plan; it can be overwhelming. Focus on the
Check: Measure the effectiveness of the solution and improvement opportunities.
first step. Once you get past this point,
somehow the next steps seem to come easier.” Act: Implement the improved solution.
Prod, promote and persevere
Accountability is the mantra for 2012 and Although we live in a society that thrives Reflect and renew
beyond because every employee has to meet on instant gratification, don’t give up too It’s hard to maintain intensity and focus
his or her individual performance objectives easily or alter the plan at the first sign of over an extended period, so take an
for the organization to succeed. failure. It takes time to massage change occasional sojourn, solicit employee
“Most of all, execution demands through an organization, and accountability feedback and assess the effectiveness of
accountability,” Brock says. “Otherwise, suffers when employees’ goals and priorities plan-related activities, communications and
people will spend endless hours developing shift by the hour. For example, Hewlett- incentive programs.
strategies du jour because it doesn’t require Packard had a tough time digesting the Conduct employee surveys and focus
the hard, dirty work or the accountability.” Compaq acquisition after initially wooing groups to analyze previous implementation
At a minimum, executives should conduct customers by touting low prices and then efforts, expose gaps and foster a spirit of
monthly plan reviews with their team and abandoning that strategy to focus on continuous improvement. Do employees
middle managers and follow up every week customer service. have the tools and training they need to
to ensure the timely completion of line “There’s a tendency to over-adapt when execute the plan? Do they understand the
managers’ critical action steps. the plan is strategically correct,” Turo says. importance and urgency of the mission?
“Executives have to be pig headed about “Sometimes you have to persist and continue What are the issues that prevent them from
it and follow up every day, otherwise, your to execute until the market forces shift.” achieving their goals?
employees won’t think you’re serious and If a strategic error has occurred, executives Review the strategic plan development
they’ll be distracted by other things,” need to acknowledge the failure, shoulder the process and create a sense of ownership by
Turo says. blame and resist the temptation to launch a giving more employees the chance to
Create a culture of accountability by witch hunt. Instead, emphasize the need for participate. Estimate return on investment by
reporting progress on key initiatives in real evolution, recalibrate your goals and set the comparing incentive expenditures and plan
time, whether good or bad, so employees tone by pressing forward. administration costs to incremental increases
don’t make excuses or surmise failure is an To further establish accountability, executives in revenues and profits.
option. Post progress charts on the company often engage a neutral third party or consultant Finally, compare the actual results to your
intranet, blog about the results and keep the to assist with plan design and implementation original goals to see how far you’ve come or if
goals in the forefront by hosting executive because outsiders have the courage to offer you’ve veered off course. Although this may
roundtables and chatting with employees in unbiased opinions and the tenacity to crack the seem like a no-brainer, less than 20 percent of
the halls and cafeteria. whip without fearing reprisal. companies review the results of
Execution can falter if frontline employees Consultants can provide executive implementation efforts, acknowledge errors
sense a disparity in accountability, so coaching and management expertise and and learn from their mistakes. Despite
communicate everyone’s goals and review organize informational exchanges with execution’s inherent difficulties, executives have
executive and departmental achievements at leaders from other industries. no choice but to stop writing and master it.
monthly meetings. Encourage new behaviors “Change often originates outside the “Executives need to understand that there’s
and build synergy toward the plan by organization because executives are so no easy fix,” Hebert says. “Plan implementation
recognizing top performers, celebrating small consumed with managing the here and now, needs to be part of the daily routine because
wins and asking employees to grade the they can’t see the forest for the trees,” the only way to eat an elephant is one bite at a
company’s efforts. Hebert says. time.” LE
8 summer 2012

9. inside:
• Building a better business with Microsoft Dynamics AX
• Five signs you’re merging with or acquiring the right company
• Client Spotlight / Industry Updates
Outsource versus in-house:
How going to the pros can save your company money
F rom marketing and
information technology to
human resources and
being used for areas of
the business that directly
them. Part of developing and
nurturing these relationships
drive revenue. If you own is what professionals call a
accounting, organizations today a construction company, “value-add.” Professionals will
are outsourcing a number of the in-house employees proactively look for ways to
services in order to focus on that generate revenue give you more value for your
their core business areas and are the sales people and money in hopes that you will
gain access to top-quality those working in the field. form a long-term partnership.
professionals. There is one other Investors would rather For example, if you outsource
big reason why companies are see you pay salary for one a large-scale marketing project,
now turning to outside of these positions instead such as a website redesign, a
professionals to do their work— of someone working in professional might include a
to save money. IT simply because IT new logo or suggestions for
It sounds contradictory— professionals are not better website content. When
paying someone to save money— directly influencing revenue—or you’re getting these as added
but when you look at the bottom development is great, as so the investors think. value, you’re saving money
line, saving money is exactly employees bring back their because you’re technically not
what you are doing. Think about new knowledge and skills to Reduce expenses. When you paying for those services.
the basics of what it takes to hire the company, it can be costly. outsource to the professionals,
internal employees for any jobs. Attending conferences and other you can find reduced costs on Stop paying for unnecessary
You have to pay for their salary, on-site events can cost companies all sorts of products or services tasks. Although great employees
paid time off, insurance several hundred dollars in they need in order to do the job will do their best not to perform
premiums and any possible registration fees alone, and while for you. After all, they’ve likely unnecessary tasks, duties such
retirement contributions, plus the many webinars are now free, the been in the industry for quite as checking and responding to
additional cost of infrastructure highest-quality ones still charge some time and have built up email, organizing files and reading
and utilities, such as computers, for participation. By outsourcing those connections. For example, newsletters do happen. By hiring
other office equipment and a position, you’ve eliminated any because HR professionals buy so someone outside the company to
electricity used at their costs associated with continued often from vendors, outsourcing perform a certain service, you are
workstations. education. your HR efforts may result in immediately eliminating the costs
Those are all obvious expenses, reduced benefits rates because associated with unnecessary or
but there are plenty of other Free up money for your they often can get them at a day-to-day tasks.
ways companies can save by specialties. If you lead a discounted price.
outsourcing certain services: pharmaceutical company, it Furthermore, if you need to All companies have a talent or
doesn’t make sense to spend purchase a specific software product to share with the world,
Training adds up. Every excessive amounts of money program in order to complete the and nothing should take away
time your company hires a for in-house accounting or tax in-house job effectively, an from the possibilities they can
new employee, it is likely he or planning. Instead, you can hire a outsourced professional probably offer. By spending money on the
she will have to participate in firm to crunch the numbers for already has the necessary necessities related to your
some sort of training program. you and use the leftover capital technology and tools, thus company—rather than what does
Whether it’s two weeks or two for a department that truly eliminating that expense from not directly influence your
months, it’s time for both the matters to what your company your books. growth—you are helping to build
new employee and a trainer, and does, such as research and your capital even more.
time equals money. development. Find the value-add. Outsourced professionals can
Professionals are continually provide not only world-class
In-house employees often Gratify current investors looking to build solid working knowledge and skills but also
want or require continued and gain new ones. Investors relationships with the companies plenty of ways to save money in
education. Though professional want to see the company’s capital that outsource services to the long run. LE
Leading Edge 9

10. Building a better business
with Microsoft Dynamics AX
W hen selecting an enterprise
resource planning (ERP)
solution, it is important to not
Q. How is Microsoft
Dynamics AX different from
Microsoft Dynamics AX can
provide these companies with
enhance control of processes and
projects and fuel expansion into
other ERP solutions? industry-specific capabilities to new territories and services.
only think about how a solution A. I’ve been working with help them design, produce and
will benefit your company’s Microsoft Dynamics AX for the deliver high-quality products to Q. What is an example of a
bottom line but also how it will past 10 years. Because many their customers. company that used Microsoft
get you there. We sat down with companies have unique business Dynamics AX, and what were
Larry Cohn, managing partner in processes that require unique Q. Manufacturers in the results?
Sikich’s Denver office, to find out solutions, they can find a particular face a number A. Before using Microsoft
how companies can reach their tremendous amount of value in of challenges today. How Dynamics AX, a world leader in
goals with one ERP solution, Microsoft Dynamics AX. The can Microsoft Dynamics AX vacuum and ceramic seal solutions
Microsoft Dynamics AX. solution itself is extremely agile help them overcome some was operating across three
and intuitive—it’s meant to of these challenges and continents with each country
Q. What is an ERP solution, conform to your business rather achieve sustainability goals? operating on a different ERP
and how does it help than your business conforming to A. Manufacturers face the system. Its goal was to provide a
companies? the solution. The RoleTailored perennial need to meet and beat single technology solution that
A. The term ERP dates user interface, for example, has low-cost producers in developing would help it increase sales,
back to 1990. It is commonly preconfigured roles in the countries, along with an improve customer service and
used today to mean a fully solution that are based increasing focus on business reduce operating costs. Specifically,
comprehensive business software specifically on what users may growth. Every day, they confront it wanted to achieve increased
solution used by manufacturers need to do. So, rather than challenges related to product sales with decreased headcount,
and distributors to help them selecting a general ERP solution, quality, business integration, increased capacity production,
manage organizational needs customers can get a complete on-time delivery, evolving supply improved inventory management
in their entirety—from back business management solution chain initiatives and improved and reduced lead times for
office (accounting and financials) that is shaped precisely for them customer service. Manufacturers customer quotes.
and operations (manufacturing, with Microsoft Dynamics AX. need solutions that empower It looked for a partner that
supply chain and inventory them to streamline, monitor and could help it not only implement
management) to sales (quotes Q. For what kind of company control the entire production and the software but achieve these
and orders) and management do you recommend this service cycle. Microsoft goals as well. It chose to partner
reports. solution, and why? Dynamics AX can help with Sikich after receiving
A. Sikich has a strong focus and component, sub-assembly and recommendations from both
Q. What is Microsoft very deep experience with whole-system manufacturers Microsoft and existing Microsoft
Dynamics AX? manufacturing companies. increase operational visibility, Dynamics AX customers and went
A. Microsoft Dynamics AX is live at three sites within six
an ERP solution that contains a months—on time and on budget.
number of robust features After being live for four months,
designed to help companies the company has seen a 4-percent
make effective business increase in manufacturing capacity,
decisions. It does so by 7-percent reduction in inventory,
automating and streamlining 13-percent increase in order
financial, customer relationship quantity (not including headcount)
and supply chain processes, and and 11-percent reduction in lead
the solution has rich, multi- time for quotes. LE
functional modules and a user-
friendly interface designed to For more information on Microsoft
meet the needs of both mid- Dynamics AX and how it can help
sized companies and large, your company reach long-term goals,
complex environments. visit www.sikich.com.
10 summer 2012

11. Sikich LLP
Five signs you’re merging with
or acquiring the right company
M ergers and acquisitions (MA) have been taking place
for decades, yet even the most recent studies have shown
MA failure rates anywhere between 70 and 85 percent. As
these transactions can be complex and confusing, it is no
wonder why more are not successful. However, those sense to all stakeholders. Employees, investors, the community and
organizations that are fostering solid relationships and moving anyone else with an interest in your company will know what the
forward with successful deals are doing something right, and company values, how it will operate and what may be different after
while MAs should take into account more than just the the transaction (including how it may affect them). Additionally, the
following advice, leaders can start with these five signs you’re right company will demonstrate long-term and forward thinking,
merging with or acquiring the right company: rather than looking to quickly fix a short-term problem.
Both sides address any potential problems early. All Both companies are willing to help. It is not a secret that MAs
MA transactions are bound to experience hiccups throughout are hard work. In fact, the complexities of these transactions are a big
the process. However, when both sides can openly discuss reason why many do not work out—there’s simply too much for one
potential problems early, there is more time to strategize a person or company to do. That is why the right company will help
game plan to get through those issues when the time comes. you out. From participating in department meetings to developing
Whether those issues relate to management style, employee a new business plan, the right company will offer its leaders the
benefits, finances or something else, bringing it up early allows opportunity to step away from day-to-day work in order to strategize
both companies enough time to decide how to solve the the transition. The right company may also offer mid-level managers
problem and relay any new developments to those involved in and staff the opportunity to help out in an effort to integrate fully,
the deal. provide opinions and understand the value of the transaction.
Communication is good. When you’re dealing with a new The two cultures are compatible. The most common reason for
MA venture, the right company will not only communicate a failed MA is often cited as incompatible cultures. Even though
well but will do so often. This does not only refer to its it’s possible to blend two different cultures, your company may save
communication with your company—although that is crucial a lot of time and headaches by finding a company that already has
for a successful MA—but also to how both companies a similar—or at least compatible—culture. This ensures one culture
communicate with their stakeholders. Here are some ways to does not become the dominant culture, which can result in negativity
tell if communication is going well: and no sense of belonging. Though comparing cultures goes deeper
than these seven questions, if a company’s answers are similar to
• Both sides are specific when discussing their needs and yours, it might be the right company with which to get involved.
wants—everyone should be on the same page.
• All conversations end with a clear understanding of • What are the demographics of both employees and clients?
everyone’s next steps. • Are leaders flexible with employees, or do they like to
• Attitudes are positive following a discussion. micromanage?
• Both sides challenge each other with constructive criticism • What unwritten rules are in place?
and questions. • How does the company approach change?
• The focus is both long-term goals and the future, and • What traditions does the company have?
the past is only brought up if it assists with planning for • How are employees rewarded?
the future. • What are the company’s top three business values?
There is a common long-term vision. While part of Planning and implementing an MA is an intricate process, but it
effective communication means determining long-term goals can be an exciting opportunity if leaders take the time to choose the
and a successful future, the right company should also share a right company carefully. By starting early, evaluating all facets of a
similar long-term vision. When its vision is completely off-base potential merger or acquisition and keeping communication at the
from yours, it is likely the MA will fall through; however, forefront, the likelihood that you can be part of the 15 to 30 percent
when the two align, the combined long-term vision will make MA success rate will be much greater. LE
Leading Edge 11

12. Sikich LLP
Client Spotlight: MRC Polymers
Founded in 1980 on the southwest side of coatings and paint, grinding
Chicago, MRC Polymers began with a vision them and formulating them
of environmental stewardship—keeping with additives to meet
plastics out of landfills by turning them customers’ specifications.
into high-end durable products. Since the To ensure quality control at
company’s inception, it has recycled more each stage, the company
than 300 million pounds of plastic, and performs a check when the
today, it is recycling more than 50 million product arrives, as well as
pounds annually. in-process and final testing.
MRC Polymers specializes in closed- Since 2006, MRC
loop recycling, meaning the company Polymers has partnered
takes customers’ scrap plastics, such as with Sikich for its human
old vehicle bumpers and water bottles, resources, tax and auditing needs. Sikich Want to get an inside look at MRC
and preps the plastic so it can be molded has cultivated a relationship with the Polymers and learn more about how Sikich
back into those same products. MRC company that provides the Sikich team added value to the company? Watch the
Polymers’ process includes sorting the a deep understanding of how it can help client spotlight video at www.sikich.com/
scrap plastics, washing them to remove MRC Polymers achieve its goals. client-spotlight.
Industry Updates
Keeping abreast with statistics, trends and industry developments allows you to identify risks and uncover opportunities in the market. With
better insight into the competitive landscape, you can make more informed, strategic decisions and gain a competitive edge. Our quarterly
industry updates offer intelligence from First Research* and focus on the critical facts that affect your day-to-day business.
REAL ESTATE HEALTH CARE
Home affordability at historic highs – The National Health care reform already entrenched in
Association of Realtors’ (NAR) housing affordability hospitals – Whether the Supreme Court upholds the
index reached an all-time high early in 2012, according Patient Protection and Affordable Care Act or strikes it
to Investment Weekly News, indicating the average family had double down, hospitals have already implemented changes required by the
the income needed to purchase a typical home. The index hit 206; law, according to CFO Magazine. If the law is struck down, hospitals
an index of 100 means an average household has enough income to can’t simply go back to the way things used to be done because
purchase a median-priced single-family home, assuming a 20-percent of the infrastructural changes regarding payment, capital, care
down payment and a mortgage payment equal to 25 percent of gross decisions and reimbursement, financial experts say. In particular,
income. NAR projects the affordability index will remain above 200 for payment bundling, in which a procedure is priced at a flat rate and
the remainder of 2012, boding well for buyers and their agents. But hospitals decide how to parcel out payment, is already leading
even with favorable pricing, purchases still depend on buyers’ ability to significant changes in how CFOs run their hospitals. The move
to obtain financing. toward paying doctors for outcomes rather than individual instances
of care is also gaining momentum.
*Industry intelligence from First Research, a division of Hoover’s (a DB company).
Data Published: May 14, 2012
12 summer 2012

13. bits
Team players in demand by
employers, survey says
If you value having your employees conduct themselves as team
players who place their full focus on satisfying customers, you’re
in good company. According to a recent survey by OI Partners,
about 70 percent of the companies contacted listed those two
qualities as what they most desire in workers.
Following in third and fourth place are the qualities of
available
pieces
Free NSC cell phone policy kit
A cell phone policy kit for employers has
been updated recently by the National
Safety Council to assist companies with
implementing their cell phone policies. The
kit is available free on the NSC website.
“Employees who use their cell phones
motivating and engaging others in their jobs (68 percent) and while driving expose themselves to a
achieving success in a “critical few objectives” (62 percent). significant safety risk that they are seemingly willing to accept,” says
Two out of three employers reported they have implemented David Teater, director of transportation initiatives. “This risk applies to
programs in the past year to retain some of their most all employees, not just commercial drivers or other employees whose
talented workers, according work involves driving, such as field salespeople or service technicians.”
to the survey. A recent National Highway Traffic Safety Administration survey
Companies reward their found drivers cite work-related communications as a reason to use
most valuable workers with phones while driving.
raises in salaries and benefits, The NSC says employers who expect employees to use cell phones
tuition reimbursement, and while driving as part of their business must recognize that doing so
provide coaching and cash exposes employees to preventable crash risk.
bonuses depending on the The Cell Phone Policy Kit is available for download at cellphonekit.
level of the employee, the nsc.org. It includes resources for executives, guides for the
survey found. implementation team and educational materials for employees.
What’s your marketing ROI?
To really know if you are getting your money’s 3. How are we managing financial risk
worth out of your marketing efforts, you have in our marketing plans?
to understand the full impact of marketing For successful communication, you may set risk
according to, “Measuring Marketing’s Worth,” parameters that enable some changes in the
in McKinsey Co.’s McKinsey Quarterly. marketing mix but limit the total shift in any
There are five questions executives should given year.
ask to see if they are getting the maximum 4. How are we coping with approaching
return on their investment. added complexity in the marketing
1. What exactly influences our organization?
consumers today? You’ll require a number of specialists, and you’ll
Companies are conscious of the growing need somebody who both integrates marketing
importance of touch points, such as favorable efforts across channels and focuses on the
consumer reviews, but don’t understand the true bottom line. Finally, you’ll need absolute clarity
magnitude of their effects. in processes, roles and responsibilities.
2. How accurate is our marketing 5. What metrics should we track given
judgment? our options?
Formulate hypotheses about the impact of Try measuring the impact of advertising on
changes to your marketing mix and then seek consumer recall, the perceptions of the business
analytical evidence. and sales leads and revenue.
Leading Edge 13

14. Stem the rising cost
of working caregivers
With more Americans caring for an elderly
relative, workplace support is vital By Leslie Stevens-Huffman
A
ccording to a Gallup poll, more educated workers hire outsiders to care for
than one in six American workers aging family members. A survey by Genworth
provides care for an elderly or Financial shows that overwhelmingly,
disabled family member, relative or Americans want to receive long-term care in
friend. All told, these overtaxed their homes. In addition, the median annual
moonlighters miss 126 million workdays each cost for a nursing home is $81,030. Nearly
year, costing American businesses an one-third of working caregivers are in a
estimated $25.2 billion in lost productivity. professional occupation, with another 12
Of course, that doesn’t include the cost of percent each in service and management
stress-related illnesses or disability claims or roles. Other professions such as installation/
the tab for administering employee leave repair, transportation and construction make
programs like the Family and Medical Leave up less than 5 percent each of caregivers. If
Act. Frankly, it’s hard to tally the financial left unabated, the rise of working caregivers
impact of this burgeoning subgroup because could impact the performance of key
28 percent of affected employees say their departments and succession planning.
employer is unaware of their situation. An informal data review is a quick, cost-
“Employees who care for someone with a effective way to estimate the number of
long-term illness such as dementia or caregivers in your employee population and
Alzheimer’s endure so much stress, they often their associated impact on the bottom line.
end up choosing between their two jobs,” says Compare your company’s absenteeism rates,
Jennifer Antkowiak, a news anchor for productivity levels and medical claims to other
Pittsburgh’s KDKA-TV and founder of organizations as higher claims for depression
Jennifer Cares, a company aimed at helping or chronic illnesses such as heart disease and
caregivers. “Consequently, companies incur the diabetes could signal the need for intervention.
cost of hiring and training a new employee, Finally, establish a baseline to track the
when it’s possible to reduce turnover by near-term impact of caregiver support
offering caregivers flexibility and support.” programs because it may take several years to
reduce health risks, improve well-being and
Assess the impact stem the rising cost of employee health care.
Although most working caregivers are female “It’s hard to gauge the total impact of
and older than age 40, companies that working caregivers without taking a formal
employ a younger workforce aren’t immune survey,” Antkowiak says. “Employees may not
to the impact. Gen-Xers and Gen-Yers often think of themselves as caregivers if they
provide part-time care for a grandparent or occasionally leave early to take a relative to a
extended family member, and when you doctor’s appointment or therapy session, but
account for everyone across the entire those trips add up.”
support chain, it isn’t unusual for caregivers
to account for 50 to 75 percent of a Offer targeted support programs
company’s total workforce. Small changes in human resources policies
Don’t assume professionals or highly and an enlightened management team can
14 summer 2012

15. strategic
Key facts:
Mid-year tax
• One in six workers provide care planning
to either a family member or
friend.
• Caregivers are forced to miss a
The clock is ticking on
combined 125 million workdays favorable estate tax
each year.
• 28 percent of caregivers say
rates and exemptions
their employer is not aware of By Leslie Stevens-Huffman
reduce caregiver stress and turnover without
their situation. Your 2012 summer vacation should
increasing costs. Several companies have
instituted work-life balance programs such as include time for year-end tax planning as
flextime, job sharing and telecommuting, How you can help a host of favorable estate tax rates and
while others have reallocated wellness dollars • Assess the need for programs to
exemptions are set to expire on Dec. 31.
toward initiatives that cater to the unique assist caregivers in your
Unless you act soon, individual filers
needs of working caregivers. workplace.
could forego the opportunity to avoid gift
According to a recent survey, the four • Tailor your wellness program to
help caregivers manage their taxes on up to $5.12 million and couples
wellness benefits most frequently offered by
companies are online wellness information, own health better. on up to $10.24 million, when the
educational tools or resources, fitness center • Sponsor workplace seminars on exemptions are indexed for inflation.
discounts and printed wellness information. end-of-life topics such as estate Worse yet, procrastination could
Impactful choices for caregivers include planning. result in the unnecessary payment of
stress reduction, healthy eating and time • Institute flexible hours for your estate taxes at a rate as high as 55
management—because caregivers are so busy employees. percent on real estate, stocks, bonds
caring for others, they tend to neglect their and cash in excess of $1 million if the
own health.
federal gift tax reverts as scheduled.
Because working caregivers don’t have time
to ferret out community support or resources, “There’s no point in waiting until after
invite employees and their families to hear tools to initiate a proactive dialogue.” the November election because we
speakers from nonprofits and government Once the issue of working caregivers is no have no idea what Congress will do,”
agencies that offer information on grief and longer taboo, line managers need the authority advises Rob Babek, partner-in-charge of
bereavement counseling, hospice, Meals On to effect change by offering employees part- the Los Angeles office of Marcum LLP,
Wheels and traveling nurses. Better still, ask time schedules, unpaid leave or telecommuting. a member firm of the Leading Edge
a qualified professional to chair an onsite
Alliance.
support group. Measure hard and soft cost savings
Babek notes the capital gains tax rate
Amy Lieberman, president of Minneapolis- Although measuring the return on investment
based Estate Matters LLC, says companies from HR policy changes and wellness is also set to increase at the end of the
should host panel discussions featuring financial initiatives targeted at caregivers is challenging, year. He says taxpayers should consider
planners, estate attorneys and physicians even a modest investment should yield an selling highly appreciated stocks and
because caregivers often face financial issues immediate boost in program participation gifting the money to a charity or heir to
and gut-wrenching end-of-life decisions. rates, employee morale and attendance. avoid paying more in capital gains taxes.
“Having clear end-of-life instructions, However, the true measure of increased Finally, if you own highly appreciated
health care directives and a durable power of efforts to support working caregivers is often
real estate such as a home or vacation
attorney reduces emotional turmoil as a evidenced by improved esprit de corps.
property, you can maintain ownership
family member ages,” says Lieberman, whose “Caregivers feel guilty about missing work
firm helps families deal with caregivers and and they’re afraid of losing their jobs,” and avoid estate taxes by gradually
other service professionals. “Moreover, Antkowiak says. “But fear can be replaced by transferring ownership to your children
companies can reduce the future impact of confidence and loyalty once the issue is out in and grandchildren through a family
our aging population by giving employees the the open.” LE limited liability company.
Leading Edge 15

16. Business in Vietnam
Understanding
hiring and
investment
rules are key
to a successful
venture
Dezan Shira Associates
E
arlier in its development process
than many countries, Vietnam is
learning from other countries’
reform experiences and utilizing its
late mover advantage in Myanmar and Vietnam have reduced nearly Unlike the ROs, the branch is entitled to do
technology introduction. While not a large 99 percent of tariffs to less than 5 percent, as business in Vietnam, although the law
country in terms of area, Vietnam’s of June 2011. prohibits it from carrying out commercial
longitudinal breadth and variations in terrain activities other than those stated in the parent
allow the country to simultaneously support a What investment vehicles are company’s business license.
wide range of industries. As labor costs rise available in Vietnam?
elsewhere, many investors look to Vietnam, The Law on Investment provides for three What about taxes?
where labor costs are, for example, estimated basic forms of direct investment by foreign Vietnam’s standard corporate income tax rate is
to be 50 percent lower than China. investors: joint ventures enterprises, 100-per- 25 percent for both domestic and foreign-
With a reasonably steady 7-percent GDP cent foreign-owned enterprises and various invested enterprises. Value-added tax is levied
growth per year average during the last decade, contractual forms. The contractual forms at three rates: the 0-percent rate applies
Vietnam is nimble as it continues to shape its include business cooperation contracts, build- generally to exported goods and services, the
market-oriented socialist economy, and major operate-transfer contracts, build-transfer-oper- 5-percent rate applies to 15 categories of
foreign investors continue to prioritize their ate contracts and build-transfer contracts. essential goods and services and the 10-percent
investments into the country. Coca-Cola, for Business cooperation contracts, for example, rate is applicable to other goods and service.
example, has said it plans to invest $200 million are agreements between foreign investors and The Vietnam government has abolished tax on
in Vietnam by 2013, adding onto its $280 Vietnamese partners to cooperate on specific profit repatriation for overseas investors, and
million investment during the past 10 years. business activities. personal income tax is levied at seven
Many small and medium enterprises are Regulated by the Commercial Law, progressive rates from 3 to 35 percent.
following in step, acting on the business representative offices (ROs) and branch offices Interestingly, ROs are not subject to
potential that Vietnam holds for companies of are also allowed in Vietnam. Similar to other taxation in Vietnam, and their yearly
all sizes and a variety of industries. countries, ROs cannot carry out commercial compliance requirements are relatively limited.
One of Vietnam’s greatest advantages today activities (only activities like market research This means using an RO for first-step
is its membership with the Association of and liaison activities), but unlike in other operation support is much more convenient in
Southeast Asian Countries and accompanying countries (such as China), ROs are permitted Vietnam than it is in other jurisdictions (such
free trade benefits. More than 99 percent of to hire staff directly and there is no cap on the as China) and the cost of being legal in
tariffs among ASEAN-6 countries have been number of local and expatriate employees a Vietnam is relatively cheap (a key point for
reduced to 0 percent, while Cambodia, Laos, representative office can hire in Vietnam. many SMEs).
16 summer 2012

17. What is the status of manufacturing monthly salary, which will rise to 22 percent in signed between the employer and the
zones in Vietnam? 2014, according to a timeline laid out in the Vietnamese employee who is planned to
Approximately 40 percent of foreign direct 2006 Law on Social Insurance. replace this particular foreign employee
investment in Vietnam goes into The second type of minimum wage is used following his or her departure.
manufacturing zones, and these zones generate for employees in all non-state enterprises In addition, a foreigner working for an
more than 30 percent of the nation’s total based on zones as defined by the government. overseas enterprise with a commercial
industrial production and 20 percent of its The minimum wage in these zones varied presence in Vietnam can be internally
export value, according to the Ministry of from approximately $67 to $96 a month (as of transferred to the operation in Vietnam if at
Industrial Planning. Manufacturing zones October 2011). least 20 percent of the total number of the
include industrial, economic, export processing A 13th month salary is usually applied as a managers, executive directors and experts in
and high-tech. Firms investing in these zones kind of annual bonus by both local and foreign the commercial presence in Vietnam are
in Vietnam enjoy preferential policies issued companies in Vietnam for employees working Vietnamese citizens.
by the government, as well as other advantages, with the company for at least a year. Prior to July 5 and Jan. 5 each year,
such as modern infrastructure and the Employees will often receive it together with employers are required to report their use of
availability of utility services compared to areas their 12th month salary or at the beginning of foreign labor to the Department of Labor,
outside of the zones. the following year. In addition, there is also a Invalids and Social Affairs office and the
In February 2012, Prime Minister Nguyen special bonus called Lunar New Year bonus or relevant authorities of industrial zones,
Tan Dung asked local authorities to suspend Tet bonus, often paid to employees before they economic zones, export-processing zones and
the licensing of new industrial, export- leave for the Lunar New Year holiday as a way hi-tech parks. In addition, before Dec. 15 each
processing and economic zones in a move to of motivating and maintaining staff. The year, employers are required to register their
improve the management and efficiency of amount of the bonus depends on the company demand for foreign labor for the next year. LE
existing zones. Zone development plans and employee performance.
photo upper left: Luciano Mortula / Shutterstock.com
through 2020 are being reviewed and revised Dezan Shira Associates, a Leading Edge Alliance
in 2012. What are the limitations on hiring Firm, specializes in foreign direct investment,
non-Vietnamese? providing business advisory, tax, accounting, payroll
What about wages and social Employers in Vietnam can hire an unlimited and due diligence services to multinationals
insurances? number of foreigners as long as a local hire investing in Vietnam, China, Hong Kong, India and
In Vietnam, there are two kinds of cannot fill the position and the employees Singapore. Established in 1992, the firm is a
minimum wages. meet requirements to work as managers, leading regional practice in Asia with 20 offices in
The first type, the common minimum wage executive directors and experts. five jurisdictions, employing more than 170
(approximately $50 a month as of April 2012), However, the employer must have a training business advisory and tax professionals.
is used to calculate the social contribution for program as required by the government for Sections of this article were drawn from the
all enterprises, as well as salaries for employees Vietnamese employees to enable them to take recently released book, Doing Business in Vietnam.
in state-owned organizations and enterprises. over these positions in the future. An employer
The total minimum employer Social Security requiring a work permit extension for a To contact the firm please email vietnam@dezshira.
contribution in Vietnam is 21 percent of foreigner must provide a training contract com or visit www.dezshira.com.
Leading Edge 17

18. on the bookshelf
Business Books for the Beach
Executive Economics: Your Brain and
Welcome to the summer
Ten Tools for Business Business: The
edition of “On the Decision Makers Neuroscience of
Bookshelf,” with volumes Shlomo Maital Great Leaders
Free Press Srinivasan Pillay
on corporate social media, 286 pages FT Press
economic theory, road- Many executives shun 288 pages
testing entrepreneurial economic theory because Pillay, a psychiatry
they consider it impractical professor at Harvard
business ideas before diving in the daily business world. In Executive Medical School and a
into them, neuroscience Economics, Shlomo Maital demystifies certified executive coach, explains how the
economics, showing how most business workings of the brain shape a person’s capacity
as it relates to business decisions can be boiled down to two simple to be an effective business leader. Pillay asserts
leadership, and business questions: “What is it worth?” and “What must the brain’s functions control executives’ ability
leadership itself. I give up to get it?” Maital explains how to project intangibles like fairness, trust and
economic theory can be used to improve openness in their daily interactions with
executives’ decision-making about fundamental employees, customers and colleagues. Your
issues like what to produce, how to produce it, Brain and Business contains a wealth of
The Executive’s
how much of it to make, how much to charge research-supported insights into how a better
Guide to
for it and how to make the best use of business understanding of neuroscience can be applied
Enterprise
resources like time, labor and capital. to negotiating deals, managing change,
Social Media
improving relationships and effectively
Strategy: How coaching people to achieve higher levels of
Social Networks The New Business performance.
are Radically Road Test: What
Transforming Entrepreneurs and HBR’s 10 Must Reads
Your Business Executives Should on Leadership
Mike Barlow, Do Before Writing a Peter Drucker, et al.
David Thomas Business Plan (3rd Harvard Business
Wiley Edition) Review Press
204 pages John Mullins 240 pages
Tweet. Post. Upload. Download. Around FT Press The featured article in the
the clock, 24/7/365, social media is the 336 pages latest installment of
dominant way young people communicate, Launching a business is a tall order. To have a Harvard Business Review’s
and it is quickly heading toward becoming shot at success, the entrepreneur must have celebrated 10 Must Reads series is “What
the dominant way virtually everyone talent, capital and a well-researched plan. But Makes an Effective Executive” by the late Peter
communicates. Many forward-thinking even with those essentials, if the basic concept Drucker. The editors of HBR have combed
business executives have jumped on the for the business is flawed, failure is inevitable. through hundreds of articles on leadership and
social media bandwagon. This book will The New Business Road Test shows readers how picked the 10 they consider to be the most
help bring those who haven’t up to speed on to determine whether their fundamental useful to help executives maximize their
how to develop an effective corporate social business concept is feasible before they sink organization’s performance. Topics include
media strategy. The Executive’s Guide to their life’s savings, not to mention their life, drawing strength from adversity, increasing
Enterprise Social Media Strategy is based on into a new enterprise. The third edition self-awareness, crediting others for one’s
interviews with leading thinkers at dozens includes a new version of The 7 Domains success, managing with tough empathy,
of corporations, including IBM, Salesforce. Model, updated case studies, a rewritten encouraging intelligent risk-taking, setting an
com, Accenture, Intuit, Newell Rubbermaid, Industry Analysis Checklist and a new author- organization’s direction, motivating others to
HR Block and the Mayo Clinic. run companion website. excel and provoking positive change. LE
18 summer 2012

19. Sikich and other members of the
Leading Edge Alliance are leaders in
many key markets, including:
The Leading Edge Alliance is an international professional
Alabama India Palestine
association of independently owned accounting and consulting firms.
Albania Indiana Panama
Afghanistan Indonesia Paraguay The Alliance enables member firms to access the resources of a
Argentina Iowa Paris multibillion dollar global professional services organization, providing
Atlanta Ireland Peru
Australia Israel Philadelphia business development, professional training and education, and peer-to-
Austria Italy Phoenix peer networking opportunities nationally and globally, around the corner
Azerbaijan Jordan Philippines
and around the world.
Bahrain Kansas Pittsburgh
Baltimore Kazakhstan Poland
Bangladesh Kenya Providence Members are quality firms who are very successful, have deep client
Belgium Knoxville Puerto Rico
Bolivia Korea Richmond relationships, and strong ties to the community. The Alliance provides
Boston Kuwait Reno members with an impressive combination: the comprehensive size and
Brazil Las Vegas Romania
Russian Federation
scope of a large multinational company while offering their clients the
British Virgin Islands Latvia
Buffalo Lebanon San Francisco continuity, consistency and quality service of a local firm. Member firms
Bulgaria Lexington Saudi Arabia have access to extensive teams of business advisors – a peer-to-peer
Cayman Islands London Scotland
Chattanooga Los Angeles Seattle connection that provides the right business solutions for clients.
Chicago Luxembourg Senegal
Chile Macedonia Serbia
China Madison, WI Singapore
Cincinnati Malaysia Slovakia
Cleveland Malta Slovenia The Leading Edge offers:
Colombia Mauritius South Carolina
Croatia Memphis Spain • Access to extensive teams of accounting professionals and business
Cyprus Mexico Sweden advisors—a peer-to-peer connection that provides the right solutions
Czech Republic Miami Switzerland
for clients.
Dallas Michigan Taiwan
Dayton Minneapolis/St. Paul Thailand • Innovative, practice-proven strategies for improving performance in
Denver Missouri Tokyo management, business processes, finance, operations, information
Dominican Republic Moldova Toronto
Ecuador Montenegro Tucson technology and marketing.
Egypt Montreal Tunisia • A leading knowledge resource for multi-disciplinary information and
El Salvador Morocco Turkey
industry-specific expertise responsive to clients’ unique needs.
Finland Nashville Ukraine
Fort Lauderdale Nebraska United Arab • The Alliance offers accounting, consulting and tax services through a
Ghana Netherlands Emirates global alliance of firms with over 18,323 professional staff, more than
Germany New Orleans Uganda
Greece New Jersey Uruguay 1,600 partners and over 23,518 staff in 455 offices.
Guatemala New York U.S. Virgin Islands • The Leading Edge Alliance offers global business advisory expertise
Harrisburg, PA New Zealand Venezuela
and experience with innovation, progressiveness and quality.
Hartford North Carolina Washington, D.C.
Hong Kong Norway Vietnam
Honolulu Orange County, CA Virginia/West Virginia
Houston Oregon
Hungary Pakistan To find out more about The Leading Edge Alliance, visit
www.LeadingEdgeAlliance.com or contact Karen Kehl-Rose,
Visit LeadingEdgeAlliance.com for a detailed listing of member firms. president, at +1 630.513.9814 or kkr@The-LEA.com.
Leading Edge 19

20. Sikich LLP Corporate Office
1415 W. Diehl Road, Suite 400
Naperville, IL 60563
(877) 279-1900
www.sikich.com
return service requested