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The common practice of cost centre planning for businesses defending themselves against the economic crisis

hyphensa CEO

Everything remains well-proportioned in the universe, due to natural and human laws. This balance will not be disturbed, so long as human behaviour stays attuned with universal laws, and human creations are governed by harmony and sustainability. The same applies to entrepreneurship and enterprises.

In the universe, everything that produces, consumes energy; for every effect there is a cost. This is true for the human body, family and nature, weather phenomena and the movement of the earth. Every field of activity that produces work, the effect, and turnover, should proportionally have a financial, or energy, cost. In other words, it should consume productive resources.

A cost centre, just as the procedure of producing work or turnover, is made up of human, material and/or financial resources destined for consumption. A business’ sustainability and its backbone of development are dependent on the regular monitoring of its cost centres and the regulation of its budget, based on these observations. De-harmonizing the relationship between cost and work by predetermining cost rates for the work produced could hurt the business or the productive resources. This is a typical scenario for a ‘non-productive business’, since defining productivity is none other than defining a ratio, in other words, a fraction, where cost is the numerator and the work that is produced and its value are the denominator.

Through statistical evidence, it has been shown that regardless of size, the only businesses that are not significantly influenced by any crisis are the ones whose planning and operations systematically depend on cost centres. These are the kind of businesses whose fast reflexes enable them to survive market changes with creativity and determination. Interested parties can acquire the cost centre methodology by attending the ROIEDU Business educational programme, designed to provide specific tools for immediate implementation for small and medium-sized businesses.

Focus on Publishing

The teacher’s digital toolbox

Whilst modern teaching resources are featuring ever increasing amounts of digital material, new generations of students and teachers are also expected to link curriculum content with a wide range of internet resources.
The coupling of the digital world with the classroom can be interpreted in today’s terms as the connection we make between reality and information derived from books. It is not surprising that school and university projects are completed primarily using digitally sourced information. It is for this reason that schools and libraries transfer, store and provide digital access to their content through user-friendly tools, so that even more people can access, search and store available information.
The digital world has not just invaded our daily lives, it has also imposed its own ways of learning. With the introduction of tablet and smartphone applications, learning by means of interactive platforms and online sites is becoming more favourable than engaging with books.
Teachers who are technologically illiterate need to be trained in using the tools, which constitutes just the tip of the arrow in terms of the information required for the learning process. New technologies are readily available, such as teaching materials created from a variety of sources, automated sharing of information with students, automated grading and the ability to directly communicate within work-groups, regardless of where members are. For example, thanks to the potential of new technology, lessons can be presented and learning can take place “on the go”. In other words, students can attend their class online and engage in learning whilst on the bus, the train or the beach, rather than in a specific educational environment.
Bearing this in mind, and considering technology’s rapid development in the field of education, the teachers’ toolbox is both a challenge and a symbol of the modern digital era.


Customer Spotlight

Strong growth recorded for STANDARD

Another example of a company that has successfully applied the αriston project’s criteria of good business practice is the STANDARD Battery Center. Active in Greece since 1972, and now one of the largest and most comprehensive battery stores in Greece, the STANDARD Battery Center faced crisis in 2013, primarily due to the poor state of the business at the time of inheritance from the second generation owners. However, the third generation owners of the STANDARD Battery Center, Yannis and Fotini Giantiridi, did not give up. On the contrary, they strived to turn their business around. Trained and managed by the αriston project, they converted the crisis they were experiencing into renewal for their company and for themselves. Significantly, the guidance and process not only increased the company’s turnover by 50% within a year, it also instilled hope in the Giantiridi family for the future health of their business, as well as the confidence to continue improving the work begun by previous generations.
You can find batteries of all types and sizes at the STANDARD Battery Center, whose goal is to provide customers with specialized products and solutions for all battery requirements.

The Millennial TAKEOVER

If you were born between 1979 and the year 2000… then you are a Millennial. Otherwise known as Generation Y, Millennials are the largest generation yet – some 2.3 billion strong worldwide. By 2025, they could make up 75% of the working population.

Scary, isn’t it. So what does that mean for us Generation X workers? Who are these Millennials, and what do they want from us?

According to a recent infographic created by the Brighton School of Business and Management (, here are some of the employee trends for 2016:
• 3.6 million “Baby Boomers” will retire before the end of the year.
• The first Generation Z (b. 1994 – 2010) college graduates will enter the workforce.
• More than one in four Millennials will become managers and one in three want to become managers in the next five years.
• As people now tend to stay in a job for shorter lengths of time, former employees, otherwise known as boomerang employees, will be more welcome to return.

cyprus conference

Even though many Baby Boomers have delayed retirement, most are now primed to leave the workforce en masse, taking their knowledge and expertise with them. And as Millennials are, as a rule, better educated than previous generations, it might be that only they can fill the gap. Think about it Millennials are the first generation that doesn’t need an authority figure, like a teacher or a manager, to gain access to information. As a result, they’re more used to researching, reading and teaching themselves how to do something than any previous generation. Generation Z, hot on the heels of Generation Y, are of course even more skilled at this.

Millennials also have different expectations and opinions than previous generations. For example, half of all Millennials would rather have no job than have a job they hate. They want to be in a job where they are recognized for their work and promoted swiftly. Job-hopping is very common, hence the increasing phenomenon of boomerang employees. (Hyphen is welcoming back three previous employees this year.) What is there to lose? Former employees are familiar with the company culture, don’t require as much training and often bring a new perspective.

You’ll note the complete lack of reference to Generation X in the trends listed above. Are you worried? Don't be. There is a vital role in the Millennials takeover for Generation Xers like me. Millennials need regular feedback and continual mentoring. One third prefer recognition from their boss or a promotion over higher pay (U.S. Census Bureau). They need flexible workplaces, including telecommuting, co-working spaces and new technology tools. Millennials are demanding. They have high expectations of me, just as I have of them. The role of Generation X is therefore to instigate change at top management levels that allow Y, and indeed Z, to reach their full potential. So, I welcome the takeover. Bring it on!

Company News

Sustainable business development and its potential

The path towards sustainable business development and the opportunities, prospects and freedom it provides were addressed yesterday afternoon by four founders and chief executives of Greek and foreign corporations, at the City College Executive MBA event (International Department of the University of Sheffield) in Thessaloniki.
The event entitled ‘My Journey to Me Inc. – Moving away from traditional employment’, was attended by business executives participating in the Executive MBA.
hyphen SA President, Mr Yannis Stergis, was among the keynote speakers, and he focused specifically on the advantages of business operations and the code of personal ethics necessary to practise these.
He also stressed that hyphen SA’s goal for the next ten years is to form a group which is perceived as one that shapes international trends in non-formal education.
With reference to business practices, Mr Stergis stressed the importance of the existence of freedom not only in the workplace, but in decision-making, provided that it is governed by honest and genuine relations between employees and their employer.
In addition to Mr Stergis, Mr Julian Rawel, Market Echoes CEO, Dr Juergen Hedrich, Head of CO Production & Procurement, SAIETTA SA, UK and Dr Pantelis Aggelidis, Alexander Innovation Zone SA and VIDAVO SA Chairman, also contributed to the event as keynote speakers and answered questions from participants of the City College Executive MBA.

the αriston project

It’s never too late for… protifora αriston project

After 26 radio shows, the pioneering radio course, protifora αriston project, has come to a close. Having completed seven units: Learning, Comprehension, Application, Analysis, Composition, Evaluation and Consolidation, hyphen SA President, Yannis Stergis and journalist, Dimitris Diamantidis, broadened the horizons of Radio Thessaloniki (94.5 FM) listeners, offering them the opportunity to complete a full 26-session course, accompanied by relevant educational material, free of charge.
Although the course has now finished, all 26 sessions and the relevant course material can still be accessed and studied online, resulting in certification by the British institution, the αriston project.
Register at to complete the full course and receive certification. You can access all of the relevant material on our site and complete the programme for free!
The page will remain active, enabling both old and new users to access all 26 seminars aired on Radio Thessaloniki as well as the accompanying course materials.


Differentiated instruction: supporting the implementation of inclusive education

by Foteini Mpoukouvala, MEd Special Education
Educational Programmes Coordinator, hyphen SA

Inclusive education is the last stage of development for special education; the next step towards the evolutionary path of Greek school. “One school for all” epitomizes the goal for education and the outcome of the struggles for the rights and equality of children, regardless of individual learning difficulties. At the core of inclusive education is the equality of student participation in the learning process, with a focus on learning and not just social development.

In the Greek educational system, it appears that inclusive education builds a wall between teachers and students. The reason is obvious: on the one hand there are teachers who are not trained in teaching students with learning difficulties, are technologically illiterate and, at the same time, unable to use new media tools to aid students’ learning. On the other hand, students are suddenly integrated into a completely different learning environment than the one they have been used to.
Differentiated instruction bridges the gap created by a lack of training and brings teachers and students together, whether they are “students with learning difficulties” or not. After all, according to the basic principle of differentiated instruction, every student learns in his or her own way; therefore, a single teaching method cannot be effective, even within a classroom which doesn’t have students with learning difficulties.
Differentiated instruction is a teaching method which takes into consideration the different ways in which each student learns. Teachers are able to use alternative teaching methods and adapt their content to each student’s specific learning goals. These methods do not aim solely at delivering and completing teaching material, but also at integrating students within groups and developing their social skills. In practice, this means that teachers have the opportunity to develop their teaching techniques and with proper preparation, attain their teaching aims in a classroom of children who have different learning types and specific learning needs.
As we approach the moment of change, where school as we know it opens its doors to all students and becomes “one school for all”, an inclusive school, teachers must broaden their horizons and pursue further training, enabling them to face tomorrow’s challenges with confidence and succeed in making a lasting difference.


Entrepreneurship with ROIEDU Business

by Dimitris Diamantidis,
Communications hyphen SA

Will a university degree suffice for someone to develop a successful business? To answer this question, let us examine the findings of a recent study into the rate and success of graduates entering the field of business and entrepreneurship.
Between January and May 2015, the Innovation and Entrepreneurship Unit of the National Technical University of Athens (NTUA) conducted a study on a sample of 1,400 NTUA graduates who were awarded their degree and licence to practice between 2000 and 2010. The research concludes that only one in three NTUA graduates have actually been engaged in some type of business activity.
68% of the businesses created by the graduates in the research sample were established prior to 2010, of which 82% do not employ permanent staff. Significantly, more than half (56%) of the NTUA graduates have not been employed to this day.
The factors inhibiting the establishment of a successful business are essentially unfavourable economic conditions and the lack of support mechanisms for new businesses. Similarly, the factors inhibiting the operation of a business include tax volatility, taxation levels and the economic crisis.
The NTUA research highlights the importance of the following skills for successful entrepreneurship:
• Leadership skills and ability to use initiative (47%)
• Communication skills and ability to collaborate with others (44%)
• Problem-solving skills (23%)
• Creative thinking (39%)
The aforementioned parameters lie at the heart of the ROIEDU Business educational programme.
The programme introduces a code of proper business practice for small and medium-sized businesses and entrepreneurs, enabling them to guarantee sustainability and high productivity in the turbulent, new economic environment. Based on technocratic, scientific and experientially holistic approaches, the programme has been proven to inspire and stimulate deep structural changes both in businesses and in the life of entrepreneurs and professionals. The programme provides continual professional training and business orientation for trainees, with a view to strengthening entrepreneurship, implementing proper financial management strategies and increasing business turnover.

hyphen SA
Vas. Olgas 24b, GR-54641, Thessaloniki, Greece
T: +30 2310 888 125
F: +30 2310 887 208

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