We have selected some of our most frequently asked questions and listed them for easy access. Please do not hesitate to contact us for additional information.
What is so important about being independent?
Disputes and business failures are delicate subjects. It is therefore necessary that those who advise or investigate are free from any possible biases or perceptions thereof.
Why is BFI based on science?
As we are scientists ourselves we believe in the power of science. By mixing scientific principles on dispute resolution, business failure drift, complexity theory, big data and social sciences it is possible to find innovative solutions that work in practice.
Why does BFI refer to human rights related to business failure?
In business failure theory the concept ‘romance of leadership’ has taught us that when things go wrong humans have a natural tendency to blame it solely on top leadership. We believe that this is only one side of the story. It is thus important to study business failure situations from multiple viewpoints. If not we run the risk of scapegoating and thus violating basic human rights of those involved.
Why do you use online surveys and digital research?
We live in the era of big data. Massive amounts of information help us to enrich explanatory stories. Digital tools create great opportunities for fast and efficient diagnosing while eliminating as much biases as possible.
Intuition and experience seem important to me when investigating business failure. Can data analytics really bring more reliable outcomes?
We do not reject human judgement, yet we know from academic research that even the most bright brains are in fact fallible. Data science can help in unbiasing ideas as well as finding correlations and explanations that would otherwise be overlooked.
What makes BFI different compared to law and consulting firms?
BFI focuses on expert opinions and investigations. We do not provide legal advice or ‘classic’ consulting. Our core business is dispute advisory and business failure intelligence.
Is BFI a forensic fraud investigation firm?
No and yes. We believe that business failure is a process, not an incident. As a result we focus in our business failure investigations on preventative solutions and after-the-fact explanations. Of course, we offer forensic accounting services and when we suspect fraud or other misbehavior we will immediately dig into it. Our business failure analysts are also qualified to act as forensic investigator.
What is Green Apple Theory as compared to Bad Apple Theory?
Dominant logic emphasizes the role of decision makers who have allegedly ‘mismanaged’ the company. Our view on business failure is more holistic. Although we do not reject the idea that managers make mistakes we believe that focus on the whole story brings more profound explanations.
What do you mean with ‘wisdom of the company crowd’?
Research has shown that great benefits are to be gained when involving internal and, if possible, external stakeholders in the process of business failure prevention and investigation. To put it simply, more people means more eyes and brains. This enriches decision making processes. For that reason we speak of wisdom of the company crowd.
How safe is my data that is stored on your servers?
We are extremely aware of the sensitivity of your data and privacy. As a result we only work with ICT partners that meet the highest standards regarding digital security. Next to that our recruitment and internal procedures are based on strict protocols.
When I answer in a survey is it really anonymous?
Yes. We do not share your answers unless specifically agreed between you and our client. Before we start a project we make sure that this is clear to all stakeholders involved. Please contact us in case of doubt.
If we subscribe to your Business Failure Risk Monitor can you guarantee us that we do not go bankrupt?
Unfortunately we cannot guarantee that as decision-making and implementation is not in our hands. Yet research (and common sense) shows that when more people are engaged in the process of business failure detection chances increase that hidden risks and warning signals are picked up earlier consequently leading to more room to manoeuvre.
Do my chances of falling prey to Directors or Officers Liability decrease when using your Business Failure Risk Monitor or Business Failure Investigation services?
We believe it is possible. When you engage more employees/lower-level managers in the process of noticing business failure drift, chances increase of picking up warning signals earlier and with that avoiding detrimental pitfalls. Besides that, when more people are engaged in the noticing process it is less likely that one so-called ‘bad apple’ can be blamed. The idea of wisdom of the company crowd also applies in retrospect.
Do you use standard survey questions as well reporting standards or is there room for tailor-made use?
Our surveys are based on insights from hundreds of scientific business failure studies. We use that as starting point but of course there is room for tailoring.
Do you share your research results with all respondents and stakeholders?
No. We listen carefully to the wishes of our clients and we act upon that.
How much experience do BFI employees have with failure research?
Our business failure analysts combine tens of years of experience both in practice as in academia with focus on business failure prevention, turnaround management, psychology and data-science.
Can we use your reports in a legal procedure and/or legal claim?
Yes, that is possible. In fact we have quite some experience supporting parties in legal procedures.
How discrete is BFI?
BFI is built on discretion. That is our reason to exist. We take this matter very seriously and invest heavily in people and technology to secure full confidentiality.
Do you sell data to third parties?
No. Your data is yours. Simply as that.