The document discusses budgeting and the budgeting process. It begins by explaining the need for budgets and reasons why budgets may be ineffective. It then outlines the typical budgeting process, including setting objectives and assumptions, developing strategies to meet targets within any constraints, and calculating the budget. The importance of linking the budget to daily operations and performance is emphasized.
1. Budgeting is an important tool for companies to plan and simulate financial outcomes for the upcoming year. It helps identify risks, opportunities, and strategies through developing objectives, assumptions, and calculations.
2. Common reasons for ineffective budgets include it being a top-down exercise with little value, lack of monitoring, and failure to link the budget to daily operations and performance.
3. The budgeting process involves determining objectives and assumptions, outlining strategies to meet targets within constraints, and developing the methodology and calculations to project sales, costs, expenses, and profits.
The document provides an overview of budgeting as a management tool and the budgeting process. It discusses identifying constraints, developing sales and production budgets, determining material, labor and overhead costs, and putting the pieces together in an income statement. The key aspects covered are determining assumptions, setting sales targets, projecting material and labor needs, and ensuring budgets are detailed enough while not overly complex. The overall message is that budgets should align with company strategy and operations to be effective management tools.
The document provides advice for tech professionals considering joining a startup. It recommends evaluating the founders/CEO, company funding and structure, business prospects, and determining your equity stake and compensation. The key steps are to thoroughly research the founders' experience and commitment, evaluate the startup's funding, understand the business model and competitors, and negotiate fair equity of 2-10% that adequately compensates your skills and risk. Dilution and vesting periods should also be considered carefully.
This document discusses aligning human networks through governance that recognizes our shared humanity. It begins by noting that while enlightenment experiences seem exclusive, the biology for them is universal. Three brain regions are consistently affected by such experiences, suggesting we are fundamentally interconnected.
It then examines how governance mechanisms like goals, language, communication and incentives can form a "silver web" to structure organizations. Referencing examples like the US Constitution, it advocates aligning these mechanisms with the insight that "we are one" to be accountable to human values.
Specific governance practices are discussed, like using a common language focused on the future rather than financials, and holding weekly forecast meetings so all employees understand and influence business performance. The goal is
The 10 step checklist for buying an investment propertyMichael Putnam
The document outlines a 10 step checklist for buying an investment property. It discusses assessing financial and personal goals, determining if you have the skills to be a landlord, choosing a location and property type, securing financing, making an offer, and inspecting the property. Key steps include evaluating your investment objectives and timeline, understanding responsibilities of being a landlord, and performing due diligence before finalizing a purchase.
The document outlines an agenda for a growth acceleration workshop. The key objectives are to understand growth as a default option, discuss various growth choices and approaches, and examine case studies and examples. The agenda includes an introduction, discussion of growth architecture and application through a case study. Unconventional approaches and successful management techniques will also be discussed. The workshop format aims to be informal yet structured, with open discussion and flexibility to change emphasis.
This document provides guidance on investing in real estate. It outlines 5 reasons to invest in property this year, including that the housing market has not yet peaked, demand is high, interest rates are expected to rise, rental prices are increasing, and mortgage insurance is affordable. It also describes 5 essential tools for real estate investing: having knowledge of the local market and properties, creating an investment plan, hiring knowledgeable professionals, managing cash flow, and hiring a property manager. The document emphasizes doing thorough research, starting small, maintaining good records, and allowing for unexpected costs when investing in property.
1. Budgeting is an important tool for companies to plan and simulate financial outcomes for the upcoming year. It helps identify risks, opportunities, and strategies through developing objectives, assumptions, and calculations.
2. Common reasons for ineffective budgets include it being a top-down exercise with little value, lack of monitoring, and failure to link the budget to daily operations and performance.
3. The budgeting process involves determining objectives and assumptions, outlining strategies to meet targets within constraints, and developing the methodology and calculations to project sales, costs, expenses, and profits.
The document provides an overview of budgeting as a management tool and the budgeting process. It discusses identifying constraints, developing sales and production budgets, determining material, labor and overhead costs, and putting the pieces together in an income statement. The key aspects covered are determining assumptions, setting sales targets, projecting material and labor needs, and ensuring budgets are detailed enough while not overly complex. The overall message is that budgets should align with company strategy and operations to be effective management tools.
The document provides advice for tech professionals considering joining a startup. It recommends evaluating the founders/CEO, company funding and structure, business prospects, and determining your equity stake and compensation. The key steps are to thoroughly research the founders' experience and commitment, evaluate the startup's funding, understand the business model and competitors, and negotiate fair equity of 2-10% that adequately compensates your skills and risk. Dilution and vesting periods should also be considered carefully.
This document discusses aligning human networks through governance that recognizes our shared humanity. It begins by noting that while enlightenment experiences seem exclusive, the biology for them is universal. Three brain regions are consistently affected by such experiences, suggesting we are fundamentally interconnected.
It then examines how governance mechanisms like goals, language, communication and incentives can form a "silver web" to structure organizations. Referencing examples like the US Constitution, it advocates aligning these mechanisms with the insight that "we are one" to be accountable to human values.
Specific governance practices are discussed, like using a common language focused on the future rather than financials, and holding weekly forecast meetings so all employees understand and influence business performance. The goal is
The 10 step checklist for buying an investment propertyMichael Putnam
The document outlines a 10 step checklist for buying an investment property. It discusses assessing financial and personal goals, determining if you have the skills to be a landlord, choosing a location and property type, securing financing, making an offer, and inspecting the property. Key steps include evaluating your investment objectives and timeline, understanding responsibilities of being a landlord, and performing due diligence before finalizing a purchase.
The document outlines an agenda for a growth acceleration workshop. The key objectives are to understand growth as a default option, discuss various growth choices and approaches, and examine case studies and examples. The agenda includes an introduction, discussion of growth architecture and application through a case study. Unconventional approaches and successful management techniques will also be discussed. The workshop format aims to be informal yet structured, with open discussion and flexibility to change emphasis.
This document provides guidance on investing in real estate. It outlines 5 reasons to invest in property this year, including that the housing market has not yet peaked, demand is high, interest rates are expected to rise, rental prices are increasing, and mortgage insurance is affordable. It also describes 5 essential tools for real estate investing: having knowledge of the local market and properties, creating an investment plan, hiring knowledgeable professionals, managing cash flow, and hiring a property manager. The document emphasizes doing thorough research, starting small, maintaining good records, and allowing for unexpected costs when investing in property.
10 years ago, James started using open-book management, a governance model that embodies the values of justice, equity and human nobility. Far more than radical transparency, open-book teaches universal financial literacy so that everyone can speak the same language. It unifies goals, engages employees in the management of the company and shares the rewards of success. The hard outcomes are growth and profitability. The harder to quantify benefits are greater collaboration, engagement, ethical behavior and sustainability.
Investing Public Funds: PFI Strategies is in the business of “finding money” in an institution’s operational and reserve funds. We also help public fund investors avoid the heartache of poor investment decisions, which everyone makes from time to time
This document provides advice for beginner investors on avoiding common mistakes when starting to invest in the stock market. It recommends:
1) Doing in-depth research to understand a company's finances, competitors, and position before investing. This includes comparing metrics like earnings and market capitalization between competitors.
2) Using demo accounts to practice investing with fake money before using real funds.
3) Controlling emotions by having an investment plan with targets for gains, maximum losses, and sticking to the plan.
World startup expo 2016 : Entrepreneurship and GrowthGeorge Molakal
Two critical factors govern entrepreneurship success : Focus and Tenacity : The entrepreneurial leap and entrepreneurial leadership clearly explained. The four critical missteps of entrepreneurs and how to avoid them and finally Measure of Life !!
1. The document provides an overview of finance concepts from the perspective of John Becker, including the goal of finance, key tools and methods, and criticisms of the field.
2. The goal of finance is described as balancing value and risk. Value refers to expected future cash flows while risk is the possible deviation from those expected cash flows. Financial tools help evaluate investments and determine if the expected return justifies the risk.
3. Discounted cash flow analysis is identified as the most important tool as it allows present valuation of future cash flows. The weighted average cost of capital is also discussed as a method to determine an appropriate discount rate based on the costs of equity and debt.
4. Criticisms of
Ryan Finnell • Retirement Tax Advisory Group
- A "living in the moment" guide to investing by Jerry Wagner
- Sell in June and go away?
- Market “truths” subject to change by Rob Hanna
- Client appreciation: A sound investment (Jim Bowen, LPL Financial)
How can you make the HR function more strategic? Tom describes a five-step process for moving your HR department in that direction -- and building the trust with the CEO that you'll need to be effective.
The document summarizes the strong performance of stock markets in Q1 2013, with the S&P 500 returning 10.61% and Nasdaq returning 8.52%. It notes that while client portfolios are not 100% in stocks, the stock holdings have contributed significantly to returns. It asks whether the positive momentum can continue and directs the reader to page 2 for more details on the statistics.
This document provides guidance on writing macroeconomics essays for first year students. It emphasizes the importance of writing a clear plan before starting an essay. The document then discusses three example essay questions and provides a sample plan for how each question could be addressed. For each plan, key concepts are explained and how they would fit into an answer following the "LSE method" of telling the reader what will be discussed. Diagrams and independent thought are also emphasized. The goal is to help students structure their essays to demonstrate a strong grasp of macroeconomic theories and concepts.
This document provides summaries of Warren Buffett's advice on investing based on excerpts from Berkshire Hathaway annual letters and other sources. It advises investing in low-cost index funds rather than trying to pick stocks or time the market. Buffett believes investors should ignore forecasts, have discipline by sticking to their investment plan, and not overreact to short-term market movements. The document suggests developing a written investment plan and controlling emotions to invest successfully like Buffett advocates.
This document provides tips and strategies for managing finances and reducing debt during an economic recession. It begins with an introduction to the topic and reasons for addressing debt issues promptly. Subsequent chapters discuss staying out of debt, creating a budget, saving money in various spending categories, and strategies for small businesses to weather an economic downturn. The overall message is that taking proactive steps like budgeting, reducing discretionary expenses, and paying down debt can help individuals and business owners thrive despite challenging financial conditions.
Careers in Systematic Investing: Advice and Perspective at the End by Matthew...Quantopian
Careers in Systematic Investing by Matthew Granade, former head of Research at Bridgewater Associates and co-founder of Domino.
This presentation was part of QuantCon 2015 hosted by Quantopian. Visit us at: www.quantopian.com.
Passive Income Streams - The Master Key to Wealth Creation and Financial FreedomMontanaDevis
This document discusses strategies for creating passive income through various means such as real estate, stock trading, blogging, network marketing, and more. It explains that passive income is earned through initial work such as investing, then generates ongoing returns with little ongoing effort. The document outlines 3 phases for creating passive income: developing the income stream, creating it, then allowing it to generate returns with minimal ongoing work.
The document provides guidance on personal finance and investing principles. It discusses ten principles of successful investing including knowing your goals and risk tolerance, diversifying your portfolio, investing for the long-term in a tax-efficient manner, and developing and following an investment plan. It also reviews the major asset classes and their historical risk and return profiles to help investors understand appropriate investments for different risk tolerances and time horizons.
Fundraising Strategy - useful tools that really work IoF 2011Simon Burne
This is intended to provide you with a range of tools to apply directly to developing effective strategies that deliver real results. All the tools have been tried and tested and have been proven to work. Not all of them will be right for you but you're guaranteed to come away with some tools that you'll want to use straight away.
The Australian economy is going great but for how long?
There's new principles to consider in digital strategy, if you don't think about them now it may be too late.
This document provides guidance on developing a strategic plan to help businesses succeed. It discusses defining a vision, purpose, values and critical success factors. It uses John F. Kennedy's vision to land a man on the moon by the end of the 1960s as an example of effective strategic planning. Tools like SWOT analysis and flow charts are presented to help structure the planning process.
The document provides advice and guidance for entrepreneurs on starting a new business. It discusses the mindset and traits needed, including courage, determination, passion and confidence. It emphasizes that entrepreneurship is difficult and will require a lot of hard work, timing and luck to succeed. The document also provides tips on developing a business plan, finding customers, funding, legal and tax structures, competition, and not making common mistakes. Overall, the document presents entrepreneurship as a challenging but rewarding journey that allows one to control their own destiny.
10 years ago, James started using open-book management, a governance model that embodies the values of justice, equity and human nobility. Far more than radical transparency, open-book teaches universal financial literacy so that everyone can speak the same language. It unifies goals, engages employees in the management of the company and shares the rewards of success. The hard outcomes are growth and profitability. The harder to quantify benefits are greater collaboration, engagement, ethical behavior and sustainability.
Investing Public Funds: PFI Strategies is in the business of “finding money” in an institution’s operational and reserve funds. We also help public fund investors avoid the heartache of poor investment decisions, which everyone makes from time to time
This document provides advice for beginner investors on avoiding common mistakes when starting to invest in the stock market. It recommends:
1) Doing in-depth research to understand a company's finances, competitors, and position before investing. This includes comparing metrics like earnings and market capitalization between competitors.
2) Using demo accounts to practice investing with fake money before using real funds.
3) Controlling emotions by having an investment plan with targets for gains, maximum losses, and sticking to the plan.
World startup expo 2016 : Entrepreneurship and GrowthGeorge Molakal
Two critical factors govern entrepreneurship success : Focus and Tenacity : The entrepreneurial leap and entrepreneurial leadership clearly explained. The four critical missteps of entrepreneurs and how to avoid them and finally Measure of Life !!
1. The document provides an overview of finance concepts from the perspective of John Becker, including the goal of finance, key tools and methods, and criticisms of the field.
2. The goal of finance is described as balancing value and risk. Value refers to expected future cash flows while risk is the possible deviation from those expected cash flows. Financial tools help evaluate investments and determine if the expected return justifies the risk.
3. Discounted cash flow analysis is identified as the most important tool as it allows present valuation of future cash flows. The weighted average cost of capital is also discussed as a method to determine an appropriate discount rate based on the costs of equity and debt.
4. Criticisms of
Ryan Finnell • Retirement Tax Advisory Group
- A "living in the moment" guide to investing by Jerry Wagner
- Sell in June and go away?
- Market “truths” subject to change by Rob Hanna
- Client appreciation: A sound investment (Jim Bowen, LPL Financial)
How can you make the HR function more strategic? Tom describes a five-step process for moving your HR department in that direction -- and building the trust with the CEO that you'll need to be effective.
The document summarizes the strong performance of stock markets in Q1 2013, with the S&P 500 returning 10.61% and Nasdaq returning 8.52%. It notes that while client portfolios are not 100% in stocks, the stock holdings have contributed significantly to returns. It asks whether the positive momentum can continue and directs the reader to page 2 for more details on the statistics.
This document provides guidance on writing macroeconomics essays for first year students. It emphasizes the importance of writing a clear plan before starting an essay. The document then discusses three example essay questions and provides a sample plan for how each question could be addressed. For each plan, key concepts are explained and how they would fit into an answer following the "LSE method" of telling the reader what will be discussed. Diagrams and independent thought are also emphasized. The goal is to help students structure their essays to demonstrate a strong grasp of macroeconomic theories and concepts.
This document provides summaries of Warren Buffett's advice on investing based on excerpts from Berkshire Hathaway annual letters and other sources. It advises investing in low-cost index funds rather than trying to pick stocks or time the market. Buffett believes investors should ignore forecasts, have discipline by sticking to their investment plan, and not overreact to short-term market movements. The document suggests developing a written investment plan and controlling emotions to invest successfully like Buffett advocates.
This document provides tips and strategies for managing finances and reducing debt during an economic recession. It begins with an introduction to the topic and reasons for addressing debt issues promptly. Subsequent chapters discuss staying out of debt, creating a budget, saving money in various spending categories, and strategies for small businesses to weather an economic downturn. The overall message is that taking proactive steps like budgeting, reducing discretionary expenses, and paying down debt can help individuals and business owners thrive despite challenging financial conditions.
Careers in Systematic Investing: Advice and Perspective at the End by Matthew...Quantopian
Careers in Systematic Investing by Matthew Granade, former head of Research at Bridgewater Associates and co-founder of Domino.
This presentation was part of QuantCon 2015 hosted by Quantopian. Visit us at: www.quantopian.com.
Passive Income Streams - The Master Key to Wealth Creation and Financial FreedomMontanaDevis
This document discusses strategies for creating passive income through various means such as real estate, stock trading, blogging, network marketing, and more. It explains that passive income is earned through initial work such as investing, then generates ongoing returns with little ongoing effort. The document outlines 3 phases for creating passive income: developing the income stream, creating it, then allowing it to generate returns with minimal ongoing work.
The document provides guidance on personal finance and investing principles. It discusses ten principles of successful investing including knowing your goals and risk tolerance, diversifying your portfolio, investing for the long-term in a tax-efficient manner, and developing and following an investment plan. It also reviews the major asset classes and their historical risk and return profiles to help investors understand appropriate investments for different risk tolerances and time horizons.
Fundraising Strategy - useful tools that really work IoF 2011Simon Burne
This is intended to provide you with a range of tools to apply directly to developing effective strategies that deliver real results. All the tools have been tried and tested and have been proven to work. Not all of them will be right for you but you're guaranteed to come away with some tools that you'll want to use straight away.
The Australian economy is going great but for how long?
There's new principles to consider in digital strategy, if you don't think about them now it may be too late.
This document provides guidance on developing a strategic plan to help businesses succeed. It discusses defining a vision, purpose, values and critical success factors. It uses John F. Kennedy's vision to land a man on the moon by the end of the 1960s as an example of effective strategic planning. Tools like SWOT analysis and flow charts are presented to help structure the planning process.
The document provides advice and guidance for entrepreneurs on starting a new business. It discusses the mindset and traits needed, including courage, determination, passion and confidence. It emphasizes that entrepreneurship is difficult and will require a lot of hard work, timing and luck to succeed. The document also provides tips on developing a business plan, finding customers, funding, legal and tax structures, competition, and not making common mistakes. Overall, the document presents entrepreneurship as a challenging but rewarding journey that allows one to control their own destiny.
The Role of Acquisitions in Corporate GrowthHouston Lane
This document discusses acquisition basics and how they apply to everyday business. It provides three ways for a business to grow: through new capabilities, brands, geographies; through new products or customers at 12-15% growth; or through price increases at 4-6% growth. However, 70% of acquisitions fail to create value due to inadequate planning, resources, communication, or misaligned incentives. The document outlines characteristics of successful acquirers, including having the right perspective, prioritization, planning, and process. It also discusses focusing efforts on integration post-close to prevent issues like delays in asset appraisals negatively impacting reported results.
In this session I walk through the different types of startups and how to best finance and scale them.
We’ll learn
— Difference between a startup and a business
— The six types of startups
— Finance options for startups
— How to begin scaling
This document provides an overview of a personal finance course. The course aims to help students gain skills to responsibly manage their money and gain perspective on how finances should affect their lives. The course will cover topics like setting financial goals, maximizing income and assets while minimizing expenses and liabilities, financial planning at different life stages, and determining net worth. The overall goal is to help students attain both financial and non-financial life goals in a sustainable way.
How is your company responding to the new realities of the market?
Is it evolving or going back to 'business-as-usual'?
How is the behavior of your company and in your company getting in the way of sustained, improved performance?
Accounting Day Teaching Elephants2 Dance Dan RuchmanDanRuchman
The document discusses using financial metrics as a common language for both financial and non-financial executives to work together effectively. It introduces key financial statements like the income statement, balance sheet, and cash flow statement. It explains important metrics derived from these statements like EBITDA, profit margins, return on assets, and more. The goal is for all executives to understand basic financial concepts and metrics so they can make informed decisions that benefit the overall financial health and success of the company.
Communicate to Motivate - A recent study in Harvard Busin.docxclarebernice
Communicate to Motivate
- A recent study in Harvard Business Review concluded to thrive as a C-level
executive an individual needs to be a great communicator, a collaborator, and a
strategic thinker. We covered collaborating and strategic thinking. When it comes to
executive leadership communication,here's a principle I want you to
prioritize. Communicate to motivate. One of the things new CEOs report being most
surprised about in their role is how everything they say counts. People around them are
prone to take offhand comments as directions.
This happens as you rise through the ranks. The more responsibility you have, the
more consequences come from everything you say. When you speak as an
executive, take a cue from a famous part of the Hippocratic oath that physicians
take. First, do no harm. Be thoughtful and intentional about what you say. Don't let
words fly out of your mouth that will do damage to your team, your organization, or
your reputation. Don't communicate to demotivate. A few years ago, I ran a session for
an aerospace leader who wanted his team to generate innovate ideasfor reaching their
challenging goals.
After the team worked energetically all day, he came in to hear their proposals. Before
they even finished the first one, he said, ah, that'll never work. In two seconds, he
decimated their morale. There was a study of the Fortune 500 CEOs that determined a
sizable majority were introverts instead of extroverts. This surprised many
people, because being a CEO calls for so much communication, in so many situations,
in front of so many audiences, you'd think most would be extroverts, but no.
A key factor, extroverts often speak before they've fully formulated their thoughts and
are more prone to saying something that turns out to be wrong or inappropriate. They
can be seen as high risk communicators for high level positions. This doesn't mean
that you shouldn't speak with passion. For introvert executives, that can sometimes be
a challenge. You can be energizing. Just know what you're saying and why you're
saying it. Ensure your words and motives have integrity. Speak thoughtfully and with
positive purpose.
Mayor Billy Kenoi of Hawaii Island put it well in a wonderful commencement
speech. He said, my father used to tell me don't just think before you talk, think and
feel before you talk. That way, everything you say comes from your heart. Whether
people agree or disagree with what you say, at least you're being honest. So, it's both,
think and feel, head and heart. You don't have to say everything on your mind. Chose
what will best serve the people you want to lead. Choose what best helps their
performance, growth, and morale.
This leads to another key point. Add inspiration to information. As an executive leader,
you're not just dispensing data, passing instructions along, and doling out
information. Given your role, you're constantly seen as the spokesperson for why
questions. Why s ...
Customers mostly like the ideas that have origin in their believes, experience and habits. It is much more effective to convince the customer to some idea or solution if he/she articulates this idea/solution and then believes that we are actually following his/her concepts.
This presentation focuses on the Discovery and Elicitation tasks and techniques with special attention to methods that are related to coaching. Coaching being originally part of personal development can be also used sales and in managing customer expectation. It is often defined as “form of development in which a person called a coach supports a coachee (learner or client) in achieving a specific personal or professional goal by providing training and guidance.”. Let’s try to convience an Eskimo to buy a fridge!
Starting Your Own Business The Dream GiverJim Shankle
The document provides advice for starting a new business by first creating a life plan to identify your passions and skills, then developing a business idea and model that aligns with your plan. It outlines 10 steps for starting a business, which include choosing a business structure, obtaining funding, organizing logistics, establishing a brand, and marketing your business. The goal is to start a business that you will love and that fits with your personal and professional goals.
FiBAN's business angel training "Effectuation in Venture investing - Do exper...FiBAN
Presention shared by Dr. Robert Wiltbank at FiBAN's business angel training in Helsinki, 3rd of November.
All the presentations and videos are gathered here: https://www.fiban.org/robertwiltbank
Presentations given:
1. Comparison of Finnish and US angel activity
https://www.youtube.com/watch?v=UKdmr...
- Slides:
2. Angel Returns: https://www.youtube.com/watch?v=juuAK...
- Slides:
3. Effective business angel strategies: https://www.youtube.com/watch?v=TsZQd...
- Slides:
4. Effectuation in Venture investing - Do experts make decisions differently?: https://www.youtube.com/watch?v=miWap...
- Slides
For additional details and questions: https://www.fiban.org/robertwiltbank
Chelsea Consulting provides management and IT consulting services to help organizations solve problems using people, process and technology. They have expertise in outsourcing, managed services, software as a service, and areas like change management and project management. The management team includes Jim Love as CEO, Darrel Berry as COO, and Ken Rowley as VP of Sales. The presentation discusses developing a successful consulting practice through strategies like differentiating services, networking, and using metrics to track business performance.
Presentation given by Steve Boese at the Aquire 2011 User Conference on May 23, 2011.
Talk focused on some of the challenges and opportunities that contingent labor, globalization, and demographic changes present to organizations.
Comes with the 100% guaranteed to work 60% of the time promise.
This document outlines principles and exercises for effectual funding and startup investing. It discusses that most startups do not receive traditional venture capital funding, and outlines effectual principles for alternative funding approaches. These include using one's existing networks and resources ("bird in hand"), crafting asks tailored to different stakeholders' contributions ("crazy quilt"), remaining open to changing plans based on commitments ("lemonade"), and focusing on affordable loss and co-creating the future through stakeholder involvement rather than predictive business plans. The document provides examples for how a novelist could apply these principles to funding a project and encourages rethinking "investing" as making asks to become a self-selected stakeholder.
The document discusses the characteristics and practices of high-performance entrepreneurs and startups. It outlines that less than 5% of entrepreneurial ventures are high-potential, but these "gazelle" companies create the majority of new jobs. To succeed, entrepreneurs must have the right motivations and skills, develop the right idea, build a strong team, establish a clear vision and values, create a solid business plan, choose the right investors and customers, focus on talent retention, build quality processes, and develop their brand over time. Key factors in startup success include transparency, quality focus, financial discipline, and adapting to change while maintaining the company's core vision.
The High Performance Entrepreneur - Subroto Bagchikingsly2009
The document discusses the characteristics and practices of high-performance entrepreneurs and startups. It outlines that less than 5% of entrepreneurial ventures are high-potential, but these "gazelle" companies create the majority of new jobs. To succeed, entrepreneurs must have the right motivations and profile, develop the right idea, build a strong team with shared vision and values, create a solid business plan, choose the right investors and customers, focus on talent retention, build quality processes, and develop their brand over time. Key factors that determine startup success or failure include founders breaking up, running out of cash, overdependence on a single customer or product, and poor governance.
The document discusses the characteristics and practices of high-performance entrepreneurs and startups. It outlines that less than 5% of entrepreneurial ventures are high-potential, but these "gazelle" companies create the majority of new jobs. To succeed, entrepreneurs must have the right motivations and skills, develop the right idea, build a strong team, establish a clear vision and values, create a solid business plan, choose the right investors and customers, focus on talent retention, build quality processes, and develop their brand over time. Key factors in startup success include transparency, quality focus, financial discipline, and adapting to change while maintaining the company's core vision.
1. The document discusses improving customer service in manufacturing by shifting from a reactive to proactive paradigm.
2. It highlights some inherent problems within organizations from an operational perspective that can lead to bad customer experiences.
3. The author argues for understanding the full value chain, customer demand, inventory levels, and using tools like Excel to improve communication and better serve customers.
This document contains notes from a presentation on finance and operations reporting. It discusses the role of a junior manager focusing on daily reporting of expenses, sales, production outputs, and other metrics. While the work can feel "lame" compared to strategic work, reporting is still important for triggering actions, generating alerts, and helping the organization avoid recurring problems. The presentation emphasizes establishing critical reporting elements like clear formatting, highlighting trends, and asking questions; and using IT tools effectively to analyze data and knowledge rather than just prove work is being done. It also discusses materials, production, and planning reporting factors to consider.
Reporting for operation 1 (restructured course)Dick Lam
This document discusses several topics related to business management including theories of profit maximization, sales and cost reduction strategies, objectives of performance measurement, Howard Gardner's five minds framework, the concept of passion in driving change, and structuralism as a theoretical paradigm. It provides examples and definitions for various concepts like reciprocal induction, the inferiority complex, human nature, and the seven types of waste. The overall document presents an overview of different ideas and approaches for analyzing and improving business operations and performance.
The document discusses various topics related to operational reporting from a finance perspective. It begins by describing the role and mindset of a junior manager focused mainly on reporting figures. It then provides details about the author's background and contact information. The remainder of the document offers suggestions on types of reports to generate, including daily sales reports, monthly sales forecasts, and gross margin reports. It emphasizes the importance of focusing reports on key indicators, using clear formatting, and taking action based on the data presented.
Basic accounting principles provide the rules for recording transactions and reporting financial information. They ensure consistency and allow for statutory reporting, banking relationships, and gaining supplier credit. The key principles include accounting standards, concepts, and policies set by laws, listing rules, GAAP, IAS, and IFRS. Major concepts include the business entity, going concern, consistency, matching, accrual, prudence, and revenue recognition concepts. Proper application of accounting principles requires collaboration between departments to accurately record revenues, costs, and expenses in the correct period.
This document discusses the importance of financial knowledge for general management. It argues that financial data can help managers make objective, data-driven decisions while overseeing large-scale operations. However, it also notes that relying solely on financial figures without understanding people and operations can be limiting. The document advocates for an approach that incorporates financial metrics alongside collaborative, rational thinking to properly structure organizations and empower staff. Financial literacy is presented as a tool that can bridge different functions and help achieve organizational goals when used reasonably and with the right people's interests in mind.
The document discusses the importance of collaboration and trust within organizations. It notes that through collaboration and learning, people can achieve things they never thought possible and extend their capacity to create. However, collaboration also requires addressing potential challenges like determining common interests when perspectives differ, establishing trust among peers, ensuring fairness and reciprocity in social exchanges, and developing a culture of openness where checks and balances are valued. The document stresses that collaboration is key to overcoming inertia within systems and breaking through to new possibilities.
This is the draft agenda of the training seminar of Production Scheduling. You are welcome to provide your suggestion on the content of this seminar.
You can write me to the following email address:
dicklam128@hotmail.com
The training seminar of Production Scheduling is expected to launch on April 2011 both in Hong Kong and Shanghai.
If you are interested in joining the training seminar, you can contact the following training institution:
Hong Kong: training@universal-hk.net
Shanghai: enquiry@medglory.com
The document appears to be a general ledger report with various accounting codes, values, and tables. However, most of the values are marked as "#VALUE!" or "Err:508" indicating there are errors or missing values in the ledger. It includes basic ledger information like account codes and names, transactions, departments, and voucher numbers but the financial values themselves seem to be invalid.
The document contains tables with plans and factors for amounts, colors, and transparency across multiple weeks. It also includes source data with targets and actuals for each week. Many of the cells contain errors due to invalid formulas.
The document contains data on targets and actuals over multiple weeks for different projects. It also includes waterfall charts showing performance against plan by week. The charts contain functions to automatically generate single and three-color waterfall diagrams from the source data.
A standalone and complete model for keeping in/out record of inventory. A good reference for Excel advanced functions.
It is better viewed in Excel 2007 as some functions cannot be used in Excel 2003
This document summarizes a company's 2008 income statement and projected budget. It shows actual 2007 figures, projected 2008 budget, and the increases/decreases between years. The 2008 budget projects no sales, costs of sales, or expenses due to missing data. It also requests $268,766 for capital and $5,190 for expenses. Projections for 2009-2010 assume the same sales amounts as 2008, with costs estimated at 81.8% of sales and margins at 18.2-19.9% of sales, yielding an EBITDA of around $1.2 million each year.
The document provides headcount and salary assumptions for Dickson Manufacturing Company's 2006 budget. It lists positions within various departments including management, finance, human resources, supply chain, and production. For each position it provides the 2005 basic salary, expenses per staff including overtime pay and pension contributions. The headcount assumptions will inform the labor costs within the company's 2006 budget.
New missions for HR - Internal control 2010 ch 9Dick Lam
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Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
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This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
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Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
2. Cargo Cult Science A cult of people in South Sea During the war, they saw airplanes land with lots of materials, and they want the same things to happen Then, make arrangement – runways, put fires along the sides of the runways, make a headphone-alike – act like controller and wait for the airplanes to land…… Richard Feynman What do you want by doing budget?
3. Budget, in a nutshell Look at your chart of accounts or your monthly income statement Empty the cells by months Fill-in the figures you think that most likely reflect the following year situation Tell the people to act on it next year Finish!!!
4. Structure of the course Some underlying concepts Changing Mind Action Items Strategy Persuasion Constraint Budgeting Budget Theory of Constraint Organization Theory of Exchange Kaizen Plan Management Consistency Culture 志不强者智不达;言不信者行不果
5. Content The need for budget & budgeting Reasons for ineffective budget Budgeting Process Application of Budget Paradox of Budget Implementation of Budget In-depth meaning of budgeting How little we know, how much to learn…
6. What am I doing here? Exert my influence to persuade you to accept budgeting in your business activities It is beneficial to the company and you Align your internal budgeting process to company budgeting
7. Before you start to think of Budgeting Do you regularly read the financial statement? Do you regularly read the departmental profit & loss? What kind of target are you assigned? Market Share? Sales? Cost? Net Income? Offering ownership to promote commitment
8. In God, we trust; all others bring data Profit = Sales - Cost Everything happens in a company will finally go to PNL
9. 1. What is the need? Bonus Determination But should the profit target be after the bonus? Resources Allocation A battle for struggling resources Setting Expectation Under-committed but over-performed; or, Over-committed but under-performed Political Tool or Economic Tool Can you determine your budget ultimately? 为善无近名,为恶无近刑。
10. 夫未战而庙算胜者 得算多也 未战而庙算不胜者 得算少也 多算胜 少算不胜 而況于无算乎 孙子兵法- 始计篇 Say goodbye to all your Tacit Knowledge
11. Before doing battle, in the temple one calculates and will win, because many calculations were made; before doing battle, in the temple one calculates and will not win, because few calculations were made; many calculations, victory, few calculations, no victory, then how much less so when no calculations? Calculation – The Art of War
12. Factors of successful persuasion people like those who appreciate them mutual benefit like to listen those are alike to them authority/professional Scarcity make explicit commitment Hope, I could do the above for you
13. Sigmund Freud conscious Interact with the outside world preconscious ego super-ego subconscious id Have you ever created your desire or feel?
15. 7 Re to change people mind Reason Research Resonance Representational Re-description Resources & Rewards Real world events Resistance 口開神氣散, 舌動是非生!
16. A paradox ….. You want the speaker tell you something different But you want the job applicant (interviewee) tell you something the same as you thought 於所厚者薄,無所不 薄也。其進銳者,其退速。
17. This is me… BBA in Accountancy (HKBU) Master of Arts in E-Business (CityU) Fellow of ACCA Worked in various enterprises and industries, mainly manufacturing in mainland China, focus on management accounting, business strategy, tax planning, supply chain management and new business setup in PRC Before 2009 working in a US company as Director of Administrative Services Now, Operation Controller in a Fortune 500 company Email: dicklam128@hotmail.com Blog: http://dicklam128.wordpress.com and more ….
18. Reference Sonshi - http://www.sonshi.com/learn.html Tao - http://www.wenhuacn.com/zhexue/daojiao/dianji/01laozi.htm The World is Flat Harvard Business Review, Dec 2007 Issue Changing Mind 5 Minds for the Future Maverick at works Halo Effect Myself & Other More Important Matters Wikipedia 社會心理學 – 浙江教育出版社
20. Another Angle…. Who is keeping the check book in your family? Do you plan for next year or the following months for your family? Your spending is to: fulfill need and want of you & your family generate income for the above purpose Family = Father and mother i love you
21.
22. What do we exchange? Reward Social Respect Social Support Social Recognition Praise Where there is unequal inter-dependence (reliance upon one side), power emerges as one owes to the other Not to be served but to serve
23. THE CAN DOATTITUDE You CAN DO everything, but not all at once. You CAN DO everything, if it’s important enough for you to do. You CAN DO everything, but you may not be the best at everything. You CAN DO everything, but there will be limitations. You CAN DO everything, but you’ll need help. Positive Attitude is everything
24. Servant Leadership vs. Superleadership Servant Leadership represents a philosophy in which leaders focus on increased service to others rather than to oneself. A superleader is someone who leads others to lead themselves by developing employees’ self-management skills. Superleaders attempt to increase employees’ feelings of personal control and intrinsic motivation. 非以役人, 乃役于人
25. Servant Leadership – 10 Characteristics Listening Empathy Healing Awareness Persuasion Conceptualization Foresight Stewardship Commitment to the growth of people Building community Robert Greenleaf
26. SERVE S…See the Future E…Engage and Develop People R…Reinvent Continuously V…Value Results and Relationships E…Embody the Values Source: “Leading at a Higher Level”, Ken Blanchard
27. Manageable Change/Calculated Risk Change is exciting when it is done by us, threatening when it is done to us Budget is the outline of any manageable change for the coming year
28. Do not ask the Lord to guide your footsteps if you are not willing to move your feet. Author Unknown
29. Human beings is not rational but rationalizing!! 曲則全,枉則直,窪則盈,敝則新,少則多,多則惑
30. Why rationalizing? Deep need for consistency When doing something, we need to have consistency and alignment between our actions and our belief Where there is inconsistency, either change What they are doing; or What they believe Worry about what people think about us if inconsistent Excessive money reward is an excuse of wrong-doing
60. Assumptions What is the inflation rate? Economic Growth %? What is the % increase in salary? General and Promotion – the overall increase ceiling What is the % between direct and indirect staff? Exchange rate, Rent, Contract price What else…
61. Your strategy to target… There is no leader without at least a follower…
62. When the customers don’t buy, great salespeople don’t whine and blame the customers Whom should be persuaded first for the strategy? Challenge up and Support down
63. Constraint Only project with payback period < 3 years being considered Headcount Ratio Direct vs. Indirect - 3 : 1 Gross Margin > 15% Emerging market at least 10% Cost Reduction: 5% on SG&A from 2007 With scarcity, we have economics.
64. The Theory of Constraint 5 Focusing Steps Identify the constraint Decide how to exploit the constraint Subordinate all other processes to above decision Elevate the constraint If, as a result of these steps, the constraint has moved, return to Step 1. Don't let inertia become the constraint 知人者智,自知者明。勝人者有力,自勝者強。
65. TOC Thinking Process Gain agreement on the problem Gain agreement on the direction for a solution Gain agreement that the solution solves the problem Agree to overcome any potential negative ramifications Agree to overcome any obstacles to implementation 上下同欲者勝
66. What is your constraint? Any way to broaden it? Can you pinpoint the constraint year by year over the past 5 years? Why the constraint in the past disappear? And how? Balance the cost & benefit of doing it… Are you the constraint of the budget?
67. Questions of change What to change? What to change to? How to cause the change? How to maintain the change? McCain: I use my career to promote change..
68. How to change Establish a sense of urgency Create the guiding coalition Develop a vision and strategy Communicate the change vision Empower broad-based action Generate short-term wins Consolidate gains and produce more change Anchor new approach in the culture
69. What should be your focus? Strategy Internal vs. External Expansion/Integration/Breakeven Sales/Operation/People Organization Structure Resource re-allocation Rightsizing / Business Process Re-engineering Organization Culture Walk the Talk and then Talk the Walk
76. Capital ExpenditureFocus on value-added cost & expenses Critical: Who determine the sales target? Direct Indirect Good news: the Africans do not wear shoes!!
77. Sales Bridge 2009 2010 Market/Customers Segmentation Identify the risk & opportunities Outline sales strategy & execution plan Tell the story of Sales Truth to the Teller Truth to the Audience Truth to the Moment Truth to the Mission (HBR Dec 2007) Storytelling: a force for turning dreams into goals and then into results
78. What is your sales strategy in 2010? Selling product or services (what services?) Segmentation / Classification Market/Product Existing Business vs. New Business Level of confidence Do you have the right people in place? If no, then….. What is your sales expense budget? Finish your job; people in China is hungry for yours
81. Questions to new program Is there any measurable evidence of the value of the program under review? Are the goals and objectives of the program important enough to warrant the expenditure being made? What would happen if the program were not provided at all? Are there other less costly and more effective ways of achieving these objectives? Walk in stupid everyday
82. Last 2 Questions… Where would the program fit in if all programs were displayed in order of importance? Would the benefits be greater if a portion of the funds spent on the program under review were used instead of other programs? Keep it fun
83. Keep the sales Why customers loyal to your company? Have you ever got the satisfaction score from your customers? How do your customers look at you? Exploration vs. Exploitation Sales & Marketing / Customer Service Product Engineering (PE) Make your people happy so that they can make your customer happier
84. Value to Customers Operational Excellence Customer Intimacy Product Leadership
86. Feargal Quinn’s advice on loyalty Humility My customers know more than I do My employees know more than I do Neither my employees nor I can be creative all of the time What I knew yesterday is not enough for today I’m not responding fast enough for my customers
87. “ Brand is the psychological contractbetween a company and its employees and between those employees and their customers We have to keep doing more than our customers expect us to; we can’t worry about what other companies might do. ” Mavericks at Work
88. But our PRC Competitors defeat us by … offering good enough products lower price massage & rebate Dragon at your door!
89. Re-define your own standard the GiveAway % the Quality standard the Brand the cost structure …… But what matters is who takes the lead? Pre-moterm Analysis!!!
90. Keep the people and their heart… Why people loyal to your company? Have you ever got the satisfaction score from your people? How do your people look at you? Exploration vs. Exploitation Find the right people within and without the organization Elicit the intelligence from the incumbents Keep the likeables, dump the Assholes.
91. Low-cost ways to please ….. Personal thank – an employee for a specific job well-done Specific praise– in a letter or thank-you note Provide information– as possible about the company Include in decision– in the decisions you make Give Opportunity – to learn as many new skills Celebrate successes– with passion Provide free time & flexibility– at their convenience People quit people, not companies
92. 2 Magic Questions How much long-term benefit or meaning did I experience from this activity? How much short-term satisfaction or happiness did I experience in this activity?
93. Insistent view on imperfection Organization Chart Operation Flow Planning Model Quality Control Policy & Procedures People Care Management 前面有千古遠,後頭有萬年多,量半炊時成得甚麼?
95. Bills of Material Convert the sales budget to production budget Is there any time lag between sales & production? In other words, any inventory days for finished goods?
96. Revisit the assumption in BOM In house vs. Outsourcing Scrap Rate List of scrap rules Too low or too high? Zero defect rate? Target DPPM Any buffer? Simple scrap vs. Compound scrap Wastage is allowed (not aware of) when time is good
97. Do you have the detail? Budget in Store Keeping Unit (SKU) Determine the cost of goods sold Identify what volume of raw materials required So as to set out the following works: Purchasing strategy about pricing / vendor selection / order allocation / replacement Measurement: Purchase Price Variance (PPV) Budgeted Inventory Level Obsolete Inventory in the warehouse Anything else?
98. NOW Know the Present, Know what you “really” have
99. Past Purchasing Activities!!!! Any new suppliers introduced? Any suppliers disqualified? What PPV generated? Order allocation on the right track? (i.e. according to suppliers score card) Any sourcing changed and the effect? Any replacement and the effect? To whom do you review first and how? 前事不忘, 後事之師
103. How much do you know your purchasing? Order placement & delivery arrangement SPQ / MOQ Lead time CAR Customers composition of your major vendors …….. Passion attracts Passion!!
105. Routing Process by process for completion of the production of a product Labor hours required for each process of a particular labor type In principles, it is the labor hours for each work station Then, no. of laborer is determined for a particular volume of production
106. Takt time…. The routing hours should be the actual working hours, i.e. hours under perfect state of motion, no waiting As a result, efficiency factor can be measured
108. How to deal with fluctuation? Pre-build, but cost of holding inventory No pay leave, annual leave in low season Alliance with other factories ………
109. 4 unexpected leadership qualities Selectively reveal your weaknesses Rely heavily on your intuition to gauge the appropriate timing and course of actions Manage employee with tough empathy Capitalize on differences Rob Goffee, Gareth Jones Internalization vs. Understanding
114. Income Statement Putting Sales, Cost & Expenses altogether But how do you work out the cost & expenses detail? Product PNL / Customer PNL CQ + PQ > IQ
115. Zero Base PNL Identify the cost nature so as to determine the breakeven point Then, is it possible to reduce the fixed cost? What minimum capacity should be maintained?
118. Profit Map 91 Sales $ Profit Total Cost Fixed Cost Loss Variable Cost Qty Breakeven point
119. A Paradox of Pricing Formula Price = Unit Cost + Mark-up % Cost: Variable Cost, Fixed cost Variable Cost: more output, fixed unit cost Fixed Cost: Lump Sum / Output more output, less unit cost less output, more unit cost Suggestion: Convert fixed cost to variable cost as far as possible
120. How detail? No free lunch!! Nothing is impossible provided there is sufficient resources Work out the detail of resources requirement so as to materialize the goal, regardless of its nature – self determined or assigned Detail is to differentiate your aspiration from dream The more the detail, the stronger the confidence
121.
122. If yes, do you know the expenses patternor relationship with sales?
123.
124. Poka Yoke in action - Reasonableness Trend by month Benchmarking Comparison Compare with previous years Compare with current year forecast Compare with industrial standard Check figure Encourage Q & A Index
125. Walkforward / Defense EBITDA bridge Quantify all identified risk & opportunities Give detail of cost reduction and others Defense your budget Prepare the detail for challenge Identify the focus area of Income Statement 實踐是檢驗真理的唯一標準
127. Any productivity improvement plan? How do you measure operator productivity? How to improve it? What is the financial impact? 7 Waste 8th Waste ….. What is the target Hourly Rate? Labor cost & Overhead
128.
129. More on Walkforward template Projects profitability highlight (new/lost) Cost reduction/increase highlight Variable Budget
130. What do we need to do? Identify the cash need upfront Uncover what leads to liquidity issue Smooth out the cash deficit & surplus Evaluate the cost of capital 知彼知己,百戰不殆 ; 不知彼而知己,一勝一負; 不知彼,不知己,每戰必殆
136. Cashflow Fund for investment opportunity Rainy-days fund Profit without cash inflow is fictitious profit Usage of cashflow statement in budgeting Notify when cash injection needed and cash return happens Yardstick for liquidity performance 世路難行錢為馬, 愁城欲破酒為軍
137. Cashflow working Net Income is not cash which include non-cash spending – depreciation & amortization Receivable is cash held by customers A/R , Cash Payable is cash hoarded from suppliers A/P, Cash Capex is spending ahead Your cash position is reflected by the bank statement/cash ledger
140. Contingency Challenge of Assumptions Sensitivity Analysis Backup/Compensating plan If plan A fails, plan B will follow Opportunity of Cost Innovation 曲突徙薪亡恩澤,燋頭爛額為上客
141. Execution Plan (Monitoring) How to measure? Key Performance Indicators (KPI) The higher the better Return on equity Key Risk Indicators (KRI) The lower the better Overdue Debt to A/R Look at your IS at different dimension Customer P&L Product P&L Go fast, Walk alone; Go far, Walk together
145. Application of Budget Commitment vs. Compliance Commitment generates productive behavior without the need for monitoring Compliance may result in similar behavior, but rarely generates initiative. Compliance strategies rely on external enforcement 夫禮者,忠信之薄而亂之首 !
146. Review Link the budget to performance appraisal Bridge the gap Evaluate the degree of achievement every month Any remedy or compensating control? 交數交人交自己
149. Lags behind the budget, over-commit but under-performBe careful! When you start the game, it will continue for good
150. How detail do we need? Flexibility Detail + Logic People need to prove they are trustable
151. Back to Basic 天下难事,必作于易 天下大事,必作于细 Socrates: the great inquisitor
152. In-depth meaning of budget A break for management to think about next year To determine the corrective actions required To determine the yardstick of next year performance To allocate resources based on certain conditions To bring(force) everybody to the strategy Think Ahead
154. Sales – the source of budget How to retain the existing customer? How to uncover the intrusion of low cost competitor? Is the new program profitable and cash-collectible? Do we have sufficient/correct segmentation? Don’t expect our employees can make customers happy if they are not happy
155. Who knows your business? Yourself Your employees Your suppliers Your customers Your bankers Your competitors But not your investment consultants 上下同欲者勝
156. 5 R – Cost saving strategy Remove Why does a particular expense need to incur? Is there a way to totally remove this expense? Replace If not possible to remove this expense, can we replace the function with a cheaper one? One to say Yes, Two to say No.
157. Reduce If not possible to remove it, is there a way to reduce the spending? We should think about request for price reduction from supplier or source alternative supplier. There is no repeated fluke!
158. Redesign If not possible to reduce, can we re-design the process to utilize the scarce resources? Kaizen should be a continuous process. There should be a regular review of existing process by freshman. The old process creator should only act as a information provider but not member of new Kaizen group. 沒有最好 只有更好
159. Redistribute If not possible to redesign the process, can we have the function to share its value to different functional area as well as the cost? Maximization subject to constraint is maxim not only in economics but also in cost saving perspective. Great intelligence comes from heart, not mind
160. Devil Advocate Who are they? Where are they? When do we need them? Financial risk management is not the sole responsibility of Finance Department, rather, every operation departments
161. Step forwards to your Suppliers & Customers Suppliers Customers Suppliers Customers Stand still or fly?
162. Budgeting is a practice for making decision 千里之行,始於足下.民之從事,常於幾成而敗之.慎終如始,則無敗事
163. Business Integrity http://www.webpronews.com/topnews/2004/07/13/the-principles-of-business-integrity The company need to have the framework to run the business This is the basis for building trust The way applied in budgeting is part of the foundation The leader of an organization must be willing to open up to ideas for betterment Use budgeting as the 1st step – A foreground for open-minded discussion A small step today, A big difference tomorrow
164. Organization Culture “It is a collective of the Values – ideas about what in life seems important the Conformed Norms – expectations of behavior in different situations the Artifacts – derivedthings or materials that abet a culture, that influence the behavior of the members of the society and helps them to cope with their world and with one another; these are transmitted from generation to generation, through learning and imitation…” Tough Empathy
166. Culture Shaping Moment: Every breathe you take, every move you make, they are watching you The daily words, behavior, events, and decisions that reinforce who you want to be Create experienced meaningfulness! A learning organization
172. Johari Window Joe and Harry suggested, be a better functioning person if you could make pane D as large as possible Nobody is as smart as everybody
174. Peripheral Thinking…. Do you budget for the following? Order Lead Time Policy & Procedure(SOP) Innovation Leadership Staff Turnover Rate Employee satisfaction Trust Social Capital But, why should I believe you?
175. Some sidetracking Trust: I cannot ask for it I can accept being trusted or give trust When I trust, I expect something happen When I trust, I take the risk It liberates and mobilizes human agency, release creative, uninhibited, innovative, entrepreneurial activism toward other people 人心生一念, 天地盡皆知; 善惡若無報, 乾坤必有私
176. To be trustworthy I need to be financially healthy proved by the Balance Sheet & PNL I need to meet the expectation of the creditors, suppliers, customers & employees I need to be consistent with what I said and intended to do 流水之為物也,不盈科不行;君子之志於道也,不成章不達。
177. Are you ready to drive the change? It is not a wish It is an inner urge It should start from the heart and the mind of the leader What is the change within yours? 佛在靈山莫遠求,靈山只在汝心頭。人人有個靈山塔,好向靈山塔下修。
179. Plant your own garden, decorate your own soul, instead of waiting for someone to bring you flowers. Veronica A Shoffstall
180. Questions to you…. What do you tell to your people about the budget? How do you communicate to your people about the budget? Which part(!!) of the budget do you tell your people?
181. What am I talking about hitherto? Financial Statements & its construction Management by applying the financial model Walk through the business cycle of a financial year Raise questions to elicit intelligence Nothing more… But we call it BUDGETING Early to bed and early to rise, make a man healthy, wealthy and wise