We decide how we spend money in three areas: 1. Purchasing: which materials we buy. 2. Specification: what product or service we offer. 3. Efficiency: how well we convert raw materials into finished goods. These activities are controlled by the Purchasing, Brand Development and Operations departments. They have the ability to make changes that will […]
Cost Conscious Culture
Chrysler has been bailed out to the tune of over $7 billion by the US government over the past few years. In efforts to repay the loan it has taken some drastic actions. According to the free press initiatives include taking all the clocks off the walls in their headquarters in Auburn Hills. They estimate […]
Decide
The problem with decisions is that it is easy to make the wrong one. It is easier to wait for more data and more information. That way you won’t get it wrong and spend time and money chasing down the wrong decision. Not making a decision though is indecision. If you don’t decide you won’t […]
The Mother of Protracted PowerPoints
Peter Bregman writes an interesting post in the HBR blog about wasted time in large organisation. He points out that employees of large organisations spend hours and hours with “unnecessary meetings, unimportant emails, and protracted PowerPoints”. He suggests a three question test to guide us on whether or not we should become involved: 1. Am […]
Discipline
I was given a book to read, “The Discipline of Market Leaders“. I am sure you have heard about it. The authors state that there are three key strategies you can take in any market: 1. Operational Excellence “deliver a combination of quality, price, and ease of purchase that no one else in their market […]
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