How to help your organization to make more money. The starting here is that financial side is always present, there is financial side in every action and there are financial ramifications if you decide to do nothing, even every thought and dream has financial connection. Here we wish to understand deeper how our organization succeeds financially and how we could help our organization to make more money which is prerequisite to do more those good things which we wish to do in this world.
A nice flow model that steps from external analysis, through internal analysis and on to issue identification and strategy development and analysis. This was developed for 3rd year university students but has good practical application as well. It\'s a nice way to link all the models.
Here are 3 key measures I would use to quickly assess the strength/performance of a procurement function:
1. Annual savings as a percentage of addressable spend - This tells me how effective they are at reducing costs.
2. Stakeholder satisfaction scores - This indicates how well procurement is meeting the needs of internal customers.
3. Supplier satisfaction scores - This shows how well procurement is managing relationships with external suppliers.
Getting feedback from both internal and external customers would give a good sense of how well the procurement function is performing in key areas. The annual savings metric quantifies the financial impact. Together these 3 measures provide a quick, high-level view of procurement performance.
The document discusses operation process improvement (OPI) and various techniques for analyzing and improving processes. It describes OPI as a systematic approach to optimize organizational processes to achieve more efficient results through reducing variation and waste. Some key techniques mentioned include process mapping, cause-effect diagrams, flow charts, and Six Sigma methodology. Six Sigma uses statistical methods and a special infrastructure of roles like Black Belts to identify and remove defects in processes. The overall aim of OPI and these techniques is to help organizations reduce costs, improve performance and maximize profits through continuous process improvement.
The document provides an overview of AFSO21 (Air Force Strategic Operations for the 21st Century), which is the Air Force's methodology for continuous process improvement using lean principles. It discusses the history and principles of lean, defines waste, and explains tools like standard work, 6S, and problem solving. It also gives examples of process mapping and describes what an AFSO21 process improvement event would entail. The goal of AFSO21 is to eliminate waste, reduce costs and response times, and improve productivity across the Air Force.
This document provides information on the improve phase of the CPI roadmap for a National Guard Black Belt training module. It outlines an 8-step process for improvement that includes identifying performance gaps, determining root causes, developing and testing countermeasures, and standardizing successful processes. The document also lists activities and tools that can be used in the improve phase, as well as mandatory and recommended deliverables for the improve tollgate, such as a future state process map, implementation plan, pilot results, and storyboard.
This document discusses examining one's thinking patterns and life stories from different perspectives. It encourages reflecting on how thoughts and motivation develop over time, from 2009 to 2012 to 2015 at the individual, team, and corporate levels. Participants are asked to analyze the progression of a relevant story and how their role in it has changed or could change. Examples of stories from public figures like Brian Tracy and Elizabeth Gilbert demonstrate the power of positive narratives. The goal is to inspire more authentic self-authorship and creativity in shaping one's future.
A nice flow model that steps from external analysis, through internal analysis and on to issue identification and strategy development and analysis. This was developed for 3rd year university students but has good practical application as well. It\'s a nice way to link all the models.
Here are 3 key measures I would use to quickly assess the strength/performance of a procurement function:
1. Annual savings as a percentage of addressable spend - This tells me how effective they are at reducing costs.
2. Stakeholder satisfaction scores - This indicates how well procurement is meeting the needs of internal customers.
3. Supplier satisfaction scores - This shows how well procurement is managing relationships with external suppliers.
Getting feedback from both internal and external customers would give a good sense of how well the procurement function is performing in key areas. The annual savings metric quantifies the financial impact. Together these 3 measures provide a quick, high-level view of procurement performance.
The document discusses operation process improvement (OPI) and various techniques for analyzing and improving processes. It describes OPI as a systematic approach to optimize organizational processes to achieve more efficient results through reducing variation and waste. Some key techniques mentioned include process mapping, cause-effect diagrams, flow charts, and Six Sigma methodology. Six Sigma uses statistical methods and a special infrastructure of roles like Black Belts to identify and remove defects in processes. The overall aim of OPI and these techniques is to help organizations reduce costs, improve performance and maximize profits through continuous process improvement.
The document provides an overview of AFSO21 (Air Force Strategic Operations for the 21st Century), which is the Air Force's methodology for continuous process improvement using lean principles. It discusses the history and principles of lean, defines waste, and explains tools like standard work, 6S, and problem solving. It also gives examples of process mapping and describes what an AFSO21 process improvement event would entail. The goal of AFSO21 is to eliminate waste, reduce costs and response times, and improve productivity across the Air Force.
This document provides information on the improve phase of the CPI roadmap for a National Guard Black Belt training module. It outlines an 8-step process for improvement that includes identifying performance gaps, determining root causes, developing and testing countermeasures, and standardizing successful processes. The document also lists activities and tools that can be used in the improve phase, as well as mandatory and recommended deliverables for the improve tollgate, such as a future state process map, implementation plan, pilot results, and storyboard.
This document discusses examining one's thinking patterns and life stories from different perspectives. It encourages reflecting on how thoughts and motivation develop over time, from 2009 to 2012 to 2015 at the individual, team, and corporate levels. Participants are asked to analyze the progression of a relevant story and how their role in it has changed or could change. Examples of stories from public figures like Brian Tracy and Elizabeth Gilbert demonstrate the power of positive narratives. The goal is to inspire more authentic self-authorship and creativity in shaping one's future.
The document discusses operational excellence and business strategies. It recommends adopting a three pillar approach of capital effectiveness, asset productivity, and operations risk management. It promotes the use of six sigma methodologies to drive financial benefits, improve processes, and increase customer satisfaction. Finally, it proposes initiating operational excellence efforts at the company by setting up a team to identify improvement opportunities and complete projects in a phased manner over several months.
The document discusses operational excellence and outlines key principles for achieving it. It emphasizes making difficult choices based on available information, taking action even with uncertainty, and adjusting strategies through learning. It also stresses the importance of developing a differentiated strategy and cites examples where companies succeeded by focusing on new competitive dimensions rather than competing on existing terms. Overall the document provides a framework for operational excellence through strategic management, Six Sigma methodology, and setting up a measurement system to track performance and drive continuous improvement.
How to Introduce Operational Excellence in your Organisation?Tina Arora
This presentation will help you present to the management the need and benefits of introducing Operational Excellence as a department in your Organisation.
It can be modified to suit the advocacy in any industry - be it Financial services, BPO, LPO, KPO, Domestic call centres, Manufacturing, Consumer Goods, Retail, etc.
Company ReBuilding : Moving into a new dimension of value creation (Compendium)Marc Wagner
About Company Rebuilding: Company what? Another buzzword? What does is mean! Using the analogy of cellular growth, corporate renewal is based on the principle of continual cell division, whereby organizational growth is controlled, organically and inorganically, by platforms that control communication and value creation, thus providing the basis for the creation of new, transformational products.
It is crucial that when creating new units or cells, that clear rules of organizational cooperation (New Work) are established where a common set of values are established and, in particular, rules for the creation of new cells are set. All organically created units carry one and the same DNA, which has customers and employees at each end of the double helix, ensuring that all kinds of non-value-adding structures and activities are eliminated immediately. All units of this newly created ecosystem must be guided by a clearly formulated vision (purpose), which specifically focuses on customer value and has the potential to produce transformational products. This purpose serves as a magnet for new partners and stakeholders in the value creation process.
The presentation provides an general overview of the Company ReBuilding concept, the underlying Communities of practices & references
For further information contact: marc.wagner@detecon.com
This document provides an overview of a course on advanced strategic management. The objectives of the course are to familiarize students with strategic management concepts, frameworks, and techniques. It aims to help students understand business performance, generate and assess strategic options, and select and implement strategies. The document discusses levels of strategy, definitions of strategy, elements of successful strategies, and how strategy relates to profit maximization and shareholder value. It also introduces concepts like sources of competitive advantage, experience curves, economies of scale, and using the value chain to analyze costs.
This document provides an overview of a course on advanced strategic management. The objectives of the course are to familiarize students with strategic management concepts, frameworks, and techniques. It aims to help students understand business performance, generate and assess strategic options, and select and implement strategies. The document discusses levels of strategy, definitions of strategy, elements of successful strategies, and how strategy relates to profit maximization and shareholder value. It also introduces concepts like sources of competitive advantage, experience curves, economies of scale, and using the value chain to analyze costs.
This document provides an overview of constraint management, a system-level management philosophy developed by Dr. Eliyahu Goldratt. It discusses key concepts like identifying the system's constraints, exploiting constraints without additional investment, and subordinating all non-constraints to support the constraint. It also examines how to evaluate decisions using measures like throughput, investment, and operating expenses. Several scenarios are presented analyzing proposals that could impact production time and throughput. The document demonstrates how to use constraint management principles to determine the global financial impact of local operating decisions.
This document summarizes a presentation given in September 2013 by Archana Joshi, a senior manager at Cognizant, and Zaheer Abbas Contractor, head of AgileNext at Wipro Technologies. The presentation covered Agile basics such as the primary goal of Agile development being working software, critical items to start a Scrum project, and the correct sequence of events in the Scrum framework. It also discussed concepts like what a product backlog item, sprint burn-down charts, and the product owner's role. The document provided examples and explanations to build understanding of foundational Agile and Scrum terminology and practices.
SMEs need strategy just as much as large organizations. Strategy provides direction and helps businesses compete and grow. While strategic planning can help plot a company's direction, the plan must have flexibility to adapt to changing market conditions. An effective strategy addresses questions about the business, its customers, and how it will excel. It also requires understanding internal strengths and weaknesses as well as external opportunities and threats through analysis.
The document discusses various principles of entrepreneurship, including defining entrepreneurship, evaluating new business opportunities, and identifying the key components necessary for starting a successful new business. It explains that the three crucial components for a successful new business are having an excellent opportunity, identifying customers, and ensuring the entrepreneur and management team have the necessary experience and skills. The document provides guidance on developing new business ideas and evaluating whether an idea presents a true market opportunity.
Lean focuses on removing waste and non-value added steps to improve efficiency, cycle time, quality, and inventory management. Six Sigma aims to measure and reduce variation in processes to improve precision and accuracy. While Lean looks at the entire value chain, Six Sigma holds improvement efforts in the hands of a select group of "belted" individuals using statistical methods. Bringing Lean and Six Sigma together as Lean Six Sigma combines their strengths for process optimization.
This document provides a summary of a lecture on business portfolio analysis tools and techniques. It discusses portfolio matrices like the BCG matrix and GE/McKinsey matrix, which evaluate businesses within a company's portfolio based on metrics like growth and market share. It also covers the three horizons of growth framework and real options theory. Horizon 1 involves current business, Horizon 2 future business, and Horizon 3 options. Real options give a company flexibility to respond to uncertainty. The document applies these concepts to explain the growth and recent struggles of companies like GE and Tesla. It analyzes how well companies balance opportunities across the three horizons.
Evolution of Dynamic Capabilities and Alliance: Case of Hilton MBA Futuris
This document provides an overview of dynamic capabilities and alliances using Hilton as a case study. It discusses the evolution of Hilton's business model and dynamic capabilities over time through phases of owning hotels, adding value through services, developing franchising, focusing on marketing and branding, and adapting to digital technologies. The document also examines the development of Hilton's alliance portfolio and the perspectives of smaller players. It aims to understand Hilton's success in evolving dynamic capabilities and alliances over the last century.
The document outlines a framework for business process design projects that utilizes business process modeling, simulation, and design. It involves 8 key steps: 1) developing a case for action and vision statement, 2) identifying and selecting processes, 3) obtaining management commitment, 4) evaluating design enablers, 5) acquiring process understanding, 6) creative process design using principles like benchmarking, 7) process modeling and simulation, and 8) implementing the new process design. Process modeling and simulation allows exploration of redesign effects without disrupting current operations and helps reduce risks.
The document discusses operational excellence and strategies for achieving it. It outlines three principles of strategy: making difficult choices with limited information, starting to act even without being entirely sure, and learning and modifying plans through trial and error. It also discusses differentiating strategies and cases where companies succeeded by focusing on innovation, customer intimacy, or operational efficiency rather than copying competitors. The document provides examples of how implementing processes like six sigma, business process reengineering, and lean methodology can help companies achieve operational excellence through benefits like reduced costs, improved productivity, quality and customer satisfaction.
Ignou mba december 2019 solved assignments PRADEEP SHARMA
IGNOU SOLVED ASSIGNMENTS
SMUSOLVEDASSIGNMENTS.COM
GET SOLVED ASSIGNMENTS
VISIT WWW.SMUSOLVEDASSIGNMENTS.COM
Or Mail us at solvemyassignments@gmail.com
YOU MAY CALL US ON - 7506193173
WHATSAPP NUMBER- 9967480770
(HANDWRITTEN ASSIGNMENTS ALSO AVAILABLE)
This document discusses strategic management and strategic planning processes. It begins by defining key terms like strategic management, strategy, and business models. It then outlines the six steps in the strategic management process: 1) identifying the organization's mission and goals, 2) external analysis, 3) internal analysis, 4) formulating strategies, 5) implementing strategies, and 6) evaluating results. It also describes three major corporate strategies - growth, stability, and renewal - and explains types of growth strategies like concentration, vertical/horizontal integration, and diversification. The BCG matrix and Porter's five forces model are introduced as tools for managing corporate strategies and assessing competitive advantage.
Organizer: Hsinchu Science Park Bureau (HSPB), FITI Program
Instructor: Albert Weng
Date: 2021/06/26
Venue: online
Participants: 20+ startup team from FITI and other programs supported by HSPB
The document discusses the key components of a feasibility study, including technical, financial, market, and legal/environmental feasibility. A feasibility study evaluates whether a proposed project is possible in terms of technical requirements, costs, potential market demand, and legal/regulatory factors. It determines if a project is worth pursuing based on these considerations, while a business plan outlines how a project would be implemented if deemed feasible. The document provides details on assessing feasibility from each of these perspectives.
This document provides an overview of operations and supply chain management concepts across multiple chapters. It defines key terms like operations management, supply chain, and operations strategy. It also describes important operations decisions around processes, quality, capacity, inventory, and supply chains. New product development phases and strategies for competing on objectives like cost, quality and delivery are summarized. Different order fulfillment and production processes as well as the characteristics of service organizations are also outlined at a high level.
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
The document discusses operational excellence and business strategies. It recommends adopting a three pillar approach of capital effectiveness, asset productivity, and operations risk management. It promotes the use of six sigma methodologies to drive financial benefits, improve processes, and increase customer satisfaction. Finally, it proposes initiating operational excellence efforts at the company by setting up a team to identify improvement opportunities and complete projects in a phased manner over several months.
The document discusses operational excellence and outlines key principles for achieving it. It emphasizes making difficult choices based on available information, taking action even with uncertainty, and adjusting strategies through learning. It also stresses the importance of developing a differentiated strategy and cites examples where companies succeeded by focusing on new competitive dimensions rather than competing on existing terms. Overall the document provides a framework for operational excellence through strategic management, Six Sigma methodology, and setting up a measurement system to track performance and drive continuous improvement.
How to Introduce Operational Excellence in your Organisation?Tina Arora
This presentation will help you present to the management the need and benefits of introducing Operational Excellence as a department in your Organisation.
It can be modified to suit the advocacy in any industry - be it Financial services, BPO, LPO, KPO, Domestic call centres, Manufacturing, Consumer Goods, Retail, etc.
Company ReBuilding : Moving into a new dimension of value creation (Compendium)Marc Wagner
About Company Rebuilding: Company what? Another buzzword? What does is mean! Using the analogy of cellular growth, corporate renewal is based on the principle of continual cell division, whereby organizational growth is controlled, organically and inorganically, by platforms that control communication and value creation, thus providing the basis for the creation of new, transformational products.
It is crucial that when creating new units or cells, that clear rules of organizational cooperation (New Work) are established where a common set of values are established and, in particular, rules for the creation of new cells are set. All organically created units carry one and the same DNA, which has customers and employees at each end of the double helix, ensuring that all kinds of non-value-adding structures and activities are eliminated immediately. All units of this newly created ecosystem must be guided by a clearly formulated vision (purpose), which specifically focuses on customer value and has the potential to produce transformational products. This purpose serves as a magnet for new partners and stakeholders in the value creation process.
The presentation provides an general overview of the Company ReBuilding concept, the underlying Communities of practices & references
For further information contact: marc.wagner@detecon.com
This document provides an overview of a course on advanced strategic management. The objectives of the course are to familiarize students with strategic management concepts, frameworks, and techniques. It aims to help students understand business performance, generate and assess strategic options, and select and implement strategies. The document discusses levels of strategy, definitions of strategy, elements of successful strategies, and how strategy relates to profit maximization and shareholder value. It also introduces concepts like sources of competitive advantage, experience curves, economies of scale, and using the value chain to analyze costs.
This document provides an overview of a course on advanced strategic management. The objectives of the course are to familiarize students with strategic management concepts, frameworks, and techniques. It aims to help students understand business performance, generate and assess strategic options, and select and implement strategies. The document discusses levels of strategy, definitions of strategy, elements of successful strategies, and how strategy relates to profit maximization and shareholder value. It also introduces concepts like sources of competitive advantage, experience curves, economies of scale, and using the value chain to analyze costs.
This document provides an overview of constraint management, a system-level management philosophy developed by Dr. Eliyahu Goldratt. It discusses key concepts like identifying the system's constraints, exploiting constraints without additional investment, and subordinating all non-constraints to support the constraint. It also examines how to evaluate decisions using measures like throughput, investment, and operating expenses. Several scenarios are presented analyzing proposals that could impact production time and throughput. The document demonstrates how to use constraint management principles to determine the global financial impact of local operating decisions.
This document summarizes a presentation given in September 2013 by Archana Joshi, a senior manager at Cognizant, and Zaheer Abbas Contractor, head of AgileNext at Wipro Technologies. The presentation covered Agile basics such as the primary goal of Agile development being working software, critical items to start a Scrum project, and the correct sequence of events in the Scrum framework. It also discussed concepts like what a product backlog item, sprint burn-down charts, and the product owner's role. The document provided examples and explanations to build understanding of foundational Agile and Scrum terminology and practices.
SMEs need strategy just as much as large organizations. Strategy provides direction and helps businesses compete and grow. While strategic planning can help plot a company's direction, the plan must have flexibility to adapt to changing market conditions. An effective strategy addresses questions about the business, its customers, and how it will excel. It also requires understanding internal strengths and weaknesses as well as external opportunities and threats through analysis.
The document discusses various principles of entrepreneurship, including defining entrepreneurship, evaluating new business opportunities, and identifying the key components necessary for starting a successful new business. It explains that the three crucial components for a successful new business are having an excellent opportunity, identifying customers, and ensuring the entrepreneur and management team have the necessary experience and skills. The document provides guidance on developing new business ideas and evaluating whether an idea presents a true market opportunity.
Lean focuses on removing waste and non-value added steps to improve efficiency, cycle time, quality, and inventory management. Six Sigma aims to measure and reduce variation in processes to improve precision and accuracy. While Lean looks at the entire value chain, Six Sigma holds improvement efforts in the hands of a select group of "belted" individuals using statistical methods. Bringing Lean and Six Sigma together as Lean Six Sigma combines their strengths for process optimization.
This document provides a summary of a lecture on business portfolio analysis tools and techniques. It discusses portfolio matrices like the BCG matrix and GE/McKinsey matrix, which evaluate businesses within a company's portfolio based on metrics like growth and market share. It also covers the three horizons of growth framework and real options theory. Horizon 1 involves current business, Horizon 2 future business, and Horizon 3 options. Real options give a company flexibility to respond to uncertainty. The document applies these concepts to explain the growth and recent struggles of companies like GE and Tesla. It analyzes how well companies balance opportunities across the three horizons.
Evolution of Dynamic Capabilities and Alliance: Case of Hilton MBA Futuris
This document provides an overview of dynamic capabilities and alliances using Hilton as a case study. It discusses the evolution of Hilton's business model and dynamic capabilities over time through phases of owning hotels, adding value through services, developing franchising, focusing on marketing and branding, and adapting to digital technologies. The document also examines the development of Hilton's alliance portfolio and the perspectives of smaller players. It aims to understand Hilton's success in evolving dynamic capabilities and alliances over the last century.
The document outlines a framework for business process design projects that utilizes business process modeling, simulation, and design. It involves 8 key steps: 1) developing a case for action and vision statement, 2) identifying and selecting processes, 3) obtaining management commitment, 4) evaluating design enablers, 5) acquiring process understanding, 6) creative process design using principles like benchmarking, 7) process modeling and simulation, and 8) implementing the new process design. Process modeling and simulation allows exploration of redesign effects without disrupting current operations and helps reduce risks.
The document discusses operational excellence and strategies for achieving it. It outlines three principles of strategy: making difficult choices with limited information, starting to act even without being entirely sure, and learning and modifying plans through trial and error. It also discusses differentiating strategies and cases where companies succeeded by focusing on innovation, customer intimacy, or operational efficiency rather than copying competitors. The document provides examples of how implementing processes like six sigma, business process reengineering, and lean methodology can help companies achieve operational excellence through benefits like reduced costs, improved productivity, quality and customer satisfaction.
Ignou mba december 2019 solved assignments PRADEEP SHARMA
IGNOU SOLVED ASSIGNMENTS
SMUSOLVEDASSIGNMENTS.COM
GET SOLVED ASSIGNMENTS
VISIT WWW.SMUSOLVEDASSIGNMENTS.COM
Or Mail us at solvemyassignments@gmail.com
YOU MAY CALL US ON - 7506193173
WHATSAPP NUMBER- 9967480770
(HANDWRITTEN ASSIGNMENTS ALSO AVAILABLE)
This document discusses strategic management and strategic planning processes. It begins by defining key terms like strategic management, strategy, and business models. It then outlines the six steps in the strategic management process: 1) identifying the organization's mission and goals, 2) external analysis, 3) internal analysis, 4) formulating strategies, 5) implementing strategies, and 6) evaluating results. It also describes three major corporate strategies - growth, stability, and renewal - and explains types of growth strategies like concentration, vertical/horizontal integration, and diversification. The BCG matrix and Porter's five forces model are introduced as tools for managing corporate strategies and assessing competitive advantage.
Organizer: Hsinchu Science Park Bureau (HSPB), FITI Program
Instructor: Albert Weng
Date: 2021/06/26
Venue: online
Participants: 20+ startup team from FITI and other programs supported by HSPB
The document discusses the key components of a feasibility study, including technical, financial, market, and legal/environmental feasibility. A feasibility study evaluates whether a proposed project is possible in terms of technical requirements, costs, potential market demand, and legal/regulatory factors. It determines if a project is worth pursuing based on these considerations, while a business plan outlines how a project would be implemented if deemed feasible. The document provides details on assessing feasibility from each of these perspectives.
This document provides an overview of operations and supply chain management concepts across multiple chapters. It defines key terms like operations management, supply chain, and operations strategy. It also describes important operations decisions around processes, quality, capacity, inventory, and supply chains. New product development phases and strategies for competing on objectives like cost, quality and delivery are summarized. Different order fulfillment and production processes as well as the characteristics of service organizations are also outlined at a high level.
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
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Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
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How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
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Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
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AI Transformation Playbook: Thinking AI-First for Your BusinessArijit Dutta
I dive into how businesses can stay competitive by integrating AI into their core processes. From identifying the right approach to building collaborative teams and recognizing common pitfalls, this guide has got you covered. AI transformation is a journey, and this playbook is here to help you navigate it successfully.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
2. Talouden Workshop
Introduction
• please comment Archie Norman.’s views
Mr Norman has been on the lookout for a fresh turnaround
opportunity, having rescued Asda from near-bankruptcy and
sold it to Wal-Mart for £6.7 billion. He also orchestrated a
revival of Energis that gained him the lion's share of a bonus
pool of £30 million upon the telecom group's sale to Cable &
Wireless in 2005. (Times online)
http://www.ft.com/cms/a7591162-f476-11dd-8e76-0000779fd2ac.html
http://www.pagetutor.com/trillion/index.html
3. Talouden Workshop
Basic numerology
European Usa
6 zero million million
9 zero milliard billion
12 zero billion trillion
18 zero trillion quintillion
The $787 billion stimulus bill passed by Congress
Finland GDP $195.2 billion (2008 est.)
Numerology:
The study of the purported mystical relationship between
numbers and the character or action of physical objects and living things
4. Talouden Workshop
Goals of this workshop
• economical thinking and action – big picture
• economical side of everything
• knowledge and action : how to make knowing doing gap smaller
• executive’s view
• money – more is good
• rigorous thinking and active dialoque – sources of new knowledge
6. Look at the changing world:
Develop a ”bite framework”
Where lurk the juiciest
opportunities?
(make sure that your proposition is more than some
remarks, please develop a framework,
for our inspiration let us check the
following three frameworks)
7. The big picture
on strategic agility
- excellent framework (Doz & Kosonen)
1. Strategic sensitivity (both the sharpness of perception
and the intensity of awareness and attention)
2. Collective commitment (the ability of the top team to
make bold decisions – fast, without being bogged
down in ”win-lose” politics at the top)
3. Resource fluidity (the internal capability ot reconfigure
business systems and redeploy resources rapidly)
8. The big picture
on leadership
- excellent framework (Kostenbaum)
1. Vision
2. Reality
3. Ethics
4. Courage
Also the graphical version of this framework is excellent
9. The big picture
on innovation How
- excellent framework
(rev. from Moss Kanter HBR nov.2006)
about
1. Strategy
1. Don’t just focus on new product development
2. Transformative idea can come from any function
2. Process
1. Don’t just require that plans are followed
2. Notice deviations which rise from acting in new circumstances
3. Structure
1. Don’t create two classes of corporate citizens
2. Create motivation for all to support innovation
4. Skills
1. Don’t leave innovators alone
2. Find people who create connections
10. Now we know, how we act!
Please propose the action side of your framework!
11. Exercise 2. Let us continue by tackling challenges!
Simple rules in saving money
5 rules for:
-sales
-R&D
-management
-changes
12. Sales:
5 most important rules ina-points
----------------------------------------------------------------------------------
1. Creativity 1,2,3
2.
3.
4.
5.
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
13. Sales:
5 most important rules ina-points
----------------------------------------------------------------------------------
1. Segmentation (opportunityt to provide effectively right products and services) 9,
2. See the value of the existing customer base (new customers are difficult to get) 10
3. Effective purchase-sales process (active dialoque for the best of the company) ?
4. Help your customer to succeed in its own business (see customer’s customer)
5. Activity (do not press quantity on the cost of quality, eg. number of customer visits) 7
Why the price was not mentioned?
-instead of price try to use other sales arguments, quality, customer care, etc
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
14. R&D:
5 most important rules ina-points
----------------------------------------------------------------------------------
1. Focus, no-choices are also important 9
2. Get and/or develop the knowledge base what the organization needs 10
3. Openness – see and use all the idea around 9
4. Realism – decide the size of the imput, see also costs and future markets 9
5. Inventive approach, ability to create need (new servise for the customer) 10
How about future needs – need for market research
The existence of the future markets?
How to use previous knowledge/solutions/technology
How to lead innovative group and people
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
15. Management:
5 most important rules ina-points
----------------------------------------------------------------------------------
1. Sensitivity (herkkyys) 10
2. Willingness to examine and analyze every action (ZBB) (novelty)
3. Manager (ceo) must hae a big picture 10
4. Deep knowledge about the needs of the organization 9
5. Management shapes the culture of the organization – realize the imporance
Management and pet projects?
Short term management positions - consequences
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
16. Changes:
5 most important rules ina-points
----------------------------------------------------------------------------------
1. How to learn to see the positive side of change (also in Finland) 10-
2. Participation, possibility to propose and get changes 10-
3. Tell the reasons of change to all, often and openly10
4. Rewrds, support, motivation 9
5. Keep it simple 9
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
17. Joker: what extremely important is still missing
Personnel Group 3
5 most important rules ina-points
----------------------------------------------------------------------------------
1. The feeling of safety
2. The experience of being usefull
3. The experienced appreciation
4. Rewards (many ways, select to most suitable)
5. Fairness
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
18. Joker: what extremely important is still missing
Personnel Group 4
5 most important rules ina-points
----------------------------------------------------------------------------------
1. How to use the existing capability
2. The role of personnel in cost cutting (their ides)
3. Reward results
4. Motivation, training
5. YT-find the posite side of working together
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
19. Joker: what extremely important is still missing
Personnel (Group 2)
5 most important rules ina-points
----------------------------------------------------------------------------------
1. Commitment
2. Työ hyvintointi viihtyvyys
3. Motivointi
4. Itsensä johtaminen
5. Vuorovaikutus
Henkilöstöosaston kehittäminen- kaikki edellämaitit asiat niiden
Osaaminen, henkilöstöosaston aseman organisaatiossa
Henkilöstöpäällikön näkyvyys organisaatiolle ja johdolle päin
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
20. Joker: what extremely important is still missing
Production (Group 1)
5 most important rules ina-points
----------------------------------------------------------------------------------
1. Make the processess leaner
2. Mimimize all distractions
3. Broad and flexible work roles
4. Make sure that key elements of production process are understod in whole organization
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
21. Joker: what extremely important is still missing
5 most important rules ina-points
----------------------------------------------------------------------------------
1. Creativity 1,2,3
2.
3.
4.
5.
Evaluate every rule:
-importance (1-10)
-novelty (1-10)
-applicability (1-10)
22. Exercise 3. Let us keep up to good work between
seminars by looking deep into our own organizations!
Let us use: name, justify and act framework:
1) What defines your organizations financial success?
Name three most important things:
2) When you know those three justify why those a most imprtant: a brief and
efective backing to your choices.
3) Now you know the most important things and you can justify your views. Is
this enough? – no way. What you do with your knowledge – your actions
(immediately, in a month, in a year)
Prepare a thought provoking presentation for the next seminar
- About 10 minutes most important economic thoughts ever heard so far on
the surface of the earth
- Send this to Ari before 21st of September
23. Exercise 3a. Locate something which could give
new ideas to your colleaque in her effort to
improve her economic thinking (eg. Article, part
of book, video, etc.)
Please send this to Ari before 21st September
27. Business relevance
Numbers as such are empty, number 9 is just
number 9 nothing more.
We have to notice how our consciusness builds a
picture on the basis of numbers
- Thus our personal experience is the key in
understanding numbers and seeing more than
plain numbers
- Experience is needed
- But we have to be careful with our
intretations – it may be 9 today is
different than tomorrow
28. The big picture on numbers:
=> how do you take these phenomena into account as a responsible manager
How the numbers have changed your How the numbers tell you/your
understanding of youself? boss/management team/sales
representative/welder/shared
ers view/etc. what is wise and what is
en umb u dumb?
Ho w th way yo
to
a ffect st, act,
i
a re, ex How
plan? chan the num
g
orga ed how bers ha
n v
How you/your boss/management poss ization people e
ible s in
team/sales and ee wha your
wha t
representative/welder/shared t is n is
ot?
view/etc. sees the numbers - as
frend/foe/messanger/?
29. The big picture
on uses of numbers
- excellent framework (let us develop together)
why numbers are calculated
what purposes are pursuit with numbers
Emphasis on
knowledge
Emphasis on Emphasis on
action 9 motivating
Emphasis on
…
30. Mental warm up no 1
Customer - Company
What happens between active projects?
Sleeping projects?
Question: what kind of actions are economically wise?
31. Mental warm up no 2
Basic business truth
Sell high
Buy low
Collect early
Pay late
How do you do these things in practice – best practices please!
32. The mental warm up no 3
The big picture on change
Is the truth of organizational life following:
The arrow of time
Same thing continues from time to time.
Do you underwrite the above – to what extend
and where are your reservations?
How would you use reports, numbers and accounting
as a tool for change?
34. Business relevance
What this has to do with profit and growth:
general implications
- act in time, anticipate
(see Who moved my cheese)
- notice the small changes
- see the pig picture
=> accounting apparatus notices some changes whereas others remain in
shadow
=> the challenge for the manager is to see all the
most relevant cause-effect relationships in the sense
of the system theory
36. Business relevance
Our habit as a human being is to repeat
everything – action, thinking, procedures,
ways of learning, ways of organizing,
ways of managing and leading, etc.
This is just fine – life without routines would
be impossible, it would take time to decide
which food would be best to take first out
of the bed.
But the world changes all the time…
We need best before days for…
37. The big picture on numbers:
=> how do you take these phenomena into account as a responsible manager
How the numbers have changed your How the numbers tell you/your
understanding of youself? boss/management team/sales
representative/welder/shared
s
u mber view/etc. what is wise and what is
the n y you dumb?
How to wa
t
affec ist, act,
x How
ar e, e chan the num
plan? g
o rg a e d h o w b e rs h a
n v
poss ization people e
How you/your boss/management ible s in
and ee wha your
team/sales w ha t
t is n is
representative/welder/shared ot?
view/etc. sees the numbers - as
frend/foe/messanger/?
38. Mental warm up no 4
Accounting world
Double – entry bookkeeping
Let us experiment with accounts
Transactions not actions
Let us look the continuum between company and customer
Entity
What is the scope, what do you manage
-unit, organization, network
No one few Management + some network
Who is interested in your success – a continuum of leadership
(who is willing to to do something (extra) for you)
39. Business relevance
transaction - actions
Customer - Company
No connection
with the customer Time
Send an invoice
What are the most important moments/acts in this continuum?
40. Path to Profit - Framework
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41. Big Picture
What are the underlying explanations for Company’s
financial success?
Question:
Please name three underlying explanations and give some
justification for your choises
Do people have a shared view?
Do you really use your identified strength in a best possible
way – is the leverage in active use?
Do you nourish your strength?
42. Direction
Do you know the direction where to proceed?
What role accounting plays here – please elaborate?
What do you select to do and what do you select not to do?
Question:
Do you have ways to recognize declining areas (products,
customer groups, procedures etc.) and act accordingly?
Please tell us an example?
43. Technology
Do you have tools to manage economic
activities? You certainly have ways to
continuosly increase your
business intelligency
-What role accounting reports
and numbers play in this
process of becoming wiser?
-Please tell us an example
where accounting reports
have changed your (your
colleaques) conception/
action?
44. Technology..more questions
Do you have necessary tools to manage economic activities?
What is the major task for accounting, cost accounting, strategic
accounting, etc. in your organization?
What are those specific accounting tools which seem to be most
important in helping your organization to succeed?
How do you use your accounting technology? Best examples
please.
Do you think that there are important issues in your
organizationg which remain into shadow and
what may be the important issues which escape inquiring
accounting eye?
45. Motive
Who are willing to make the organization to succeed?
Look the continuum (from – to whole network and beyond)?
How do widen and deepen the willingness to make more for
the organization’s success?
Question:
When we look the world with the eyes of different people in
different positions – how do they see the issue of
organization’s success?
How the incentive system works – what is in order what
might need some refinement?
46. Food for thought
- Can you locate unnecessary expences?
- And if yes – are you willing and/or able to
something
- What is the route from knowing to doing?
- Are customers willing to do selling for you?
- Or can you name some orher potential
resources which you do not leverage as
efectively than what would be possible
- Is something stalling your action here?
47. Motto
• Best time to plant a tree was ten years ago.
The second best time is now.
– The message is: intensify the present moment
– And see how past, present and future and
irrevocably linked with each other
48. Reading
• Accounting in action:
two lines of thought
1) Strategy
Is It Time to Start Thinking About Strategic Accounting?
2) Organisational, behavioral
Be(com)ing The Chief Financial Officer Of an Organisation:
Experimenting With Bourdieu’s Practice Theory
49. Before we go go there is
absolutely something we
must not ignore…
50. What it is?
The thing that has changed the
world and does just keep on
going..
causing deeper and more profound
changes all the time
continuously everywhere…
51. The answer is
Internet
Web 2.0 youtube wikinomics
Blogs, wikis, chat rooms, etc…
52. Groundswell: Li and Bernoff
You must always thing how
internet could help you to:
1) Listen your customers and your shareholders –
better and with lower costs
2) Talk to your customers and shareholders-
better and with lower costs
3) Energize your most loyal customers and shareholders-
better and with lower costs
4) Support your customers and shareholders
help each other
5) Embrace your customers and shareholders
to develop your business together
53. Please share with us your adventures in internet,
in particular those with remarkable financial
successes or losses
Where and how - in your experience - the
business relevance of internet use in business
environment has been most impressive?
Have you seen enormous rise of revenues or
amazing fall on costs?
What
should
we look
closely in
the near future?
54. You made excellent questions and I have
grouped responses into three category:
1) Bridge-work between strategy and finance (accounting,
control)
2) Innovations in the accounting, control world
3) Bacis question: how strategic position is developing
4) Steps in Strategy work and accounting
55. Bridge-work between
strategy and finance (accounting, control)
How we see the concept and activity of strategy
affects how we can build the bridge. Is strategy:
1. Process through which we develop the organization to fit to the external situation
2. Meticulous planning process and forceful implementation act
3. Improvement of our position within the context of industry
4. Visionary process of the charismatic leader
5. Our capability to see and understand opportunities for our organization
6. Learning process
7. Negotiation process between differeant stakeholders within and outside the organization
8. Gradually emerged way to think and act – our culture
9. Our way respond to the challenges what the external environment impose on us
Cf. Mintzberg et al. Strategy safari
How these conceptions of strategy path
a way to accounting and control?
56. Bridge-work between strategy and finance (accounting, control)
When we perceive strategy as: 1) Process through which
we develop the organization to fit to the external situation
Then our article which was given as a reading material ”Is It Time to Start Thinking
About Strategic Accounting? is highly relevent:
… well, because
There is the idea and wisdom: Ansoff ssf
(strategic success formula)
in case we accept the idea (or find it usefull)
everything follows pretty straightforwardly, so
in case the environment is 1) repetitive, 2) expanding,
3) changing, 4) discontinuous, 5) surpriseful
⇒This tell something what the firm should be and
⇒How the environment should be monitored
⇒What kind of accounting and control system
would serve us best
57. Bridge-work between strategy and finance (accounting, control)
When we perceive strategy as: 2) Meticulous planning process and forceful
implementation act
In case this is our starting point what does this mean to our way to perceive and
develop accounting and control systems?
58. Bridge-work between strategy and finance (accounting, control)
When we perceive strategy as: 3) Improvement of our position within the
context of industry
In case this is our starting point what does this mean to our way to perceive and
develop accounting and control systems?
59. Bridge-work between strategy and finance (accounting, control)
When we perceive strategy as: 6) Learning process
In case this is our starting point what does this mean to our way to perceive and
develop accounting and control systems?
60. Bridge-work between strategy and finance (accounting, control)
How we see the concept and activity of strategy affects how we can build the bridge.
Is strategy essentially:
Cf. Stacay and Griiffin
1. Essentially codified and centralized
- managers, decisions, hierarchies
2. Complex responsive process in organization
- created in continuous discussions between people
How these basic conceptions of strategy affect to the way how
we start to think accounting, control and our task as a manager
to create a setting which lead to a success?
Eg. How we start to think about intangible assets, their
management and measurement
61. Innovations in the
accounting, control world
Point to consider
Is the world and organizations truly changing to a direction where hierarchies, bosses and
structeres are less important and powerful?
Are we moving to world where substance and contribution matter? The one who has
something to say gets audience, the one who can deliver gets resources, etc.
Is there a good reason for Stacey to say that there is no boss neuron
in a brain?
Is these a good reason for Hamel to talk about resielence and quite
often refer for instance to cities as resilien organizations?
What would this change mean to accounting and control?
62. Innovations in the
accounting, control world
Few remarks from history and from the outskirt of accounting
1. Excellent tools: ROI (profit centers, the story in GOAL)
2. Radical innovation: Exit value accounting (Sterling)
3. Recent shock wave - subprimes
63. Innovations in the accounting, control world:
case Balanced Scorecard
How the performance of an organization changes? What changes first and things
are related to each other? Let us hear first the BSC story and then your stories
Profitability
Customer satisfaction
Knowledge
64. Innovations in the accounting, control world:
Outline your own Balanced Scorecard
What are your strategic goals? How do you pursue your goals? What is the
elementary level, the sencond and third level?
Third level
Second level
Elementary level
65. Bacis question: how strategic position is developing
1. Very basic level
- Naked eye
2. Basic level
- Counting
3 And what comes here…
66. Basic question:
If you want to know more of your organization
than what naked eye or simple counting can tell
you need theoretical frameworks
Some of our frameworks have received an established position:
Accounting tools (income statement, balance sheet and so on
also eg. Budgeting, Balances Scorecrs, etc.)
However some frameworks are still lacking or they are
Controversial. For instance how to know how the strategic
Capability of organization is developing. Also hard question is
Personnel – what to follow and why – what is the framework here?
67. Steps in Strategy work and accounting:
What role accounting plays and can play in each step
Create strategy,
choices
accounting
Implement strategy
monitor
Evaluate strategy,
Change if necessary
68. Your own framework
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