| |
| |
|
Management Information |
|
|
|
Create Your Dashboard for Success
Driving down the road our eyes frequently scan the vital instruments on the dashboard that monitor speed, fuel level, coolant temperature, and oil pressure. The modern vehicle also has many more devices that constantly monitor various systems for fuel mixture, exhaust gasses, timing adjustment and others. If there is something amiss, sensors trigger the "check-engine" light. As long as the instruments register within their normal range the "check-engine" light stays off and we drive along confidently that we will reach our destination safely and without problems. Just like an automobile, a business is a complex system with many factors to be monitored. Sales volume, past-due accounts, cash-flow, employee turnover, new customer acquisition, inventory turns, margins, balky vendors, and quality measurements are just a few of the endless number of systems vital to the health of a company. It is difficult, if not impossible to watch all these systems constantly so I advise business owners to create a few, vital measurements to scan daily in the same manner we scan our cars' dashboard, then delegate a second set of items that others monitor. When things go outside normal levels they are instructed to inform you in the same way the computers in your car turn on that "check engine" light. Of course each business is unique. Each has different needs and different items to monitor. Ask what is vital to the safety of the company, to smooth, efficient administration, and to increased customer satisfaction. Determine the factors that measure these important aspects of your business. Design a dashboard to measure activities and tasks that are vital to your business. Monitor the delegated systems that alert you to matters that suddenly become abnormal. With a dashboard and delegated monitoring systems your business will arrive at its destination safely and profitably. You don't want your car to run out of gasoline or your business to falter by running out of a vital resource so keep looking at your dashboard. Larry Galler coaches and consults with high-performance executives, professionals, and small businesses since 1993. He is the writer of the long-running (every Sunday since November 2001) business column, "Front Lines with Larry Galler" Sign up for his free newsletter at http://www.larrygaller.com Questions??? Send an email to larry@larrygaller.com
MORE RESOURCES:
Management - Google News |
|
|
|
RELATED ARTICLES
Knowledge Mapping This module focuses on the basics of Knowledge Mapping, its importance, principles, and methodologies.Key QuestionsWhat is K-map?What does the K-map show, and what do we map?Why is K-mapping so important?What are some of the key principles, methodologies, and questions for K-mapping?How do we create K-map?BackgroundEach of the past centuries has been dominated by single technology. Creativity and Innovation - Large Firms Versus Small Firms There is a pervasive assumption that small firms are more creative and innovative than larger firms. That is, they identify problems and generate ideas (creativity) and idea select, develop and commercialise (innovate) those ideas to a greater degree than larger firms. 11 Strategies on How to Work in An Open Plan Environment Many work environments now are open plan, with only a few senior managers having offices of their own. This style of work can have great benefits for team building - fostering cooperation and collaboration and can be wonderful for developing the social aspects of teams, but on the flipside, it can drive some people crazy and be damaging to productivity. Top 5 Services Your Company's Accounting Department Should Outsource Accounting is one area which every company has to maintain but mostly not part of their core business. It is also one of the areas that keep changing every year and the company has to aggressively keep up with the changes in the tax code. Employee Motivation - Access Their Unique Talents Your people are invaluable to you. They are the lifeblood of your business or organisation. Learn How To Get The Most From Your Team Being a leader isn't easy. Every one looks to you to make decisions, resolve disputes, and to carry all the responsibility. Pricing Strategy for Retail Flower Shops When you create your profit and loss statement to assess the health of your business, you will see:Sales minus Cost of Goods Sold equals Gross Profit.You pay for all of your expenses with the gross profit. Magnificent Meetings - 5 Tips for Success Your impact at meetings will determine in a big way how well you do in your career. In other words you will rise as high as your communication skills will let you. Understanding Every Aspect of Your Organization GET TO KNOW YOUR ORGANIZATION: If you don't understand an aspect of the organization or a procedure within it, ask. If you still don't understand, ask again. Managing Dickheads "We are so different and individualistic that we can't work together." Subroto Bag chi, a senior executive in wipro technologies and Indian Technology MNC, said to his chairman in a straight talk. Your Blueprint For Business Success Before you start your own business one of the first things you need to do is draw up your business plan. This is your blueprint for success. Power of Pinpointing Accountability I have always said that if I were to write a book on effective management principles, the first chapter in that book would be about the importance of pinpointing responsibility among an owner's or a general manager's reporting units. After all, one of the most popular definitions of management is getting work done through others. What Every Manager Should Know About How to Maximize the Two People Inside Every one of us, in reality, has two people inside: The person we are today and the person we can become tomorrow and in the future.We go to work every day, are never late or absent, earn a promotion; and receive occasional raises. Group Discussion Guidelines DISCUSSION METHODS: There are two basic types of discussion methods; the conference method and the workshop method. The conference method involves meetings of staff members, usually from the same organization, and is convened to pass on information, communicate management policies or decisions, or to solve organizational problems. Turn Your Speech Into A Leadership Talk My experience working with thousands of leaders world wide for the past two decades teaches me that most leaders are screwing up their careers.On a daily basis, these leaders are getting the wrong results or the right results in the wrong ways. Making a Decision to Outsource: Driving Factors Most executives view offshore outsourcing most of all as a source of cost reducing. The greatest savings are expected to come from lower labor cost and reduced project timelines. Smart Choices: How to Hire the Best Your organization's continued growth and success depend on making smart choices and hiring the best. Today's economy is exploding with talent, allowing you to be selective about the staff you hire. Solving the Problem Solving Problem The meeting started like a hundred others before. There were five people sitting around the conference table, like they always did, trying to solve a problem that had popped up in the last few weeks. A Renewed View of the Modern Business Culture Life can sometimes be unexciting if not refreshed by the will to create according to one's own conscience and freedom. Often, the power of passion fuses into unexciting or appealing activities. Ten Business Reasons Why Asking for Help Works In fact, bringing your people - any of them - into your confidence and asking for help, is a very powerful tool indeed. The form of words' "I need your help", works best.
|
| home | site map |
| © 2006 |
