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Will You Add? - Business Excellence: It's in the Eye of the Beholder
Why Wasn't I Awake - Dealing with the Morning Factor Have you ever heard of the old saying “the early bird gets the worm?” This is so true in business today. However, many entrepreneurs and business owners are struggling to find success. They are consistently working late into the evening, spending long hours at the office, using personal time to attempt to become productive, and burning the candle at both ends. With this being said, they continue to struggle with getting their business going.What I have seen in my travels is that many entrepreneurs, managers, and key employees miss opportunities simply because they were not awake. They are exhausted from the long hours of work, lack of appropriate sleep or suffer from just plain unawareness of their su 3. Aggressively execute the strategy. 4. Measure your results along the way. 5. Celebrate your successes This very simple strategy is often scoffed at as not possibly being able to work. The reasons for chuckles are typically; “my business is too complex”, “we’re different”, and “you don’t understand my business.”, I’m sure you have all heard these and more, yet this process has never failed. It’s tried and tested. Everything else clouds your vision and makes things seem more complex than they really are. There are, however, any number of small, middle market, and transitional businesses who have grown 3 - 5x their revenue using this very simple strategy. Again, the simplicity should not overshadow the difficulty of actually implementing it. It is tough. Peop How to Get Customers At a recent forum the panel the discussion was around programs that lead an organization to excellence. The most consistent views seemed to suggest that few programs on their own will achieve excellence. There needs to be an overall strategy moving an organization towards excellence. Nothing occurs overnight and each piece of the puzzle has it’s own pitfalls.A satisfied customer brings ten more. This old law of business is often forgotten by business people to earn some quick buck. Many companies still believe in the policy of ‘plunder with a tongue of honey’. Such companies are actually legal thugs and eventually earn the wrath of the customers. They publish juicy ads which make your tongue hungry with desire. Their marketing persons display all the charms they can just to hook you. Once you are hooked they don’t leave a chance to make more and more money from you. A common customer always feels cheated with such tactics and starts hating the company. As soon as he gets an opportunity he wants to get away from the company. Some companies don’t want to realise t Looking at the Ford Motor Company, as an example. They have implemented almost every business improvement or business excellence strategy possible and they recently posted losses of about $12 BILLION. Clearly, the strategies they have implemented (TQM, TPS, JIT, Lean, Six Sigma, TOC, and probably more) as well as new IT systems that have been installed, have not led to business excellence. I have seen companies get results from each strategy individually but few have had breakthrough results. Each strategy has usually only focused on one aspect of the business, mostly process. Yes, Lean is moving into the office but it’s still process. It’s now about shuffling paper faster and more efficiently. Big deal. ERP systems moved companies to think in terms of processes and attempted to break functional silo’s, but ERPs are transactional systems that move companies forward incrementally, by creating piecemeal savings. Yes in a F50 the numbers are large but relatively speaking they are incremental. People in the business require new skill sets and ROIs are hardly ever equal to those planned or projected by the IT departments and consultants! Been there seen that. GE is often mentioned as an outstanding organization. Business owners and managers often mention GE’s success and Six Sigma in the same breath. What they fail to realize is Six Sigma was part of an overall plan. Some GE companies only started on their road to excellence and using Six Sigma after many years had been spent re organizing, redesigning, re hiring and focusing the business in minute detail. Six Sigma wasn’t the cause and final end result of their improvement, nor their excellence! Over the past few years I have been working with companies to achieve their strategies. What this has meant is looking at business in a holistic manner and making sure each piece of a strategic plan is budgeted for and is executed to achieve the desired results, or better. Essentially companies realize that no matter what happens in their strategic planning sessions they are not realizing the results they’d like to see. Yes, one can just imagine FORD exec’s saying “OK guys we’re going to drop $12 Billion this next year”! What this means is companies needs to improve their performance in a multitude of areas. This can be done without a name brand process, or a software package. To reiterate, it’s not about ERPs, CRMs, Lean, Six Sigma, TQM, or anything else you can think of. Sure you may add one later but that isn’t the reason for success, although it probably will assist in reinforcing the changes that are made along the way. The key to excellence in performance is rather simple; It’s not easy but it is simple. 1. Have a great strategy. This very simple strategy is often scoffed at as not possibly being able to work. The reasons for chuckles are typically; “my business is too complex”, “we’re different”, and “you don’t understand my business.”, I’m sure you have all heard these and more, yet this process has never failed. It’s tried and tested. Everything else clouds your vision and makes things seem more complex than they really are. There are, however, any number of small, middle market, and transitional businesses who have grown 3 - 5x their revenue using this very simple strategy. Again, the simplicity should not overshadow the difficulty of actually implementing it. It is tough. Peopl Tittle's Top Ten: Signs Your Company Is About To Downsize ts from each strategy individually but few have had breakthrough results. Each strategy has usually only focused on one aspect of the business, mostly process. Yes, Lean is moving into the office but it’s still process. It’s now about shuffling paper faster and more efficiently. Big deal. ERP systems moved companies to think in terms of processes and attempted to break functional silo’s, but ERPs are transactional systems that move companies forward incrementally, by creating piecemeal savings. Yes in a F50 the numbers are large but relatively speaking they are incremental. People in the business require new skill sets and ROIs are hardly ever equal to those planned or projected by the IT departments and consultants! Been there seen that.Meteorologists claim, you can tell when you’re about to get hit by lightening: The little hairs on the back of your neck stand straight up, a sure sign that the air around you has become electrically charged.Ditto for the workplace. You can tell when your company is about to go into a downsizing storm and start zapping employees (although by the time the little hairs stand up on your neck, you’re probably already in the middle of your exit interview), Here are ten sure-fire ways to predict that your company is about to ignite the firing fireworks. You go out to dinner and see one of your company’s investors waiting tables. You’re offered a lateral promotion to open an office in Haiti. < GE is often mentioned as an outstanding organization. Business owners and managers often mention GE’s success and Six Sigma in the same breath. What they fail to realize is Six Sigma was part of an overall plan. Some GE companies only started on their road to excellence and using Six Sigma after many years had been spent re organizing, redesigning, re hiring and focusing the business in minute detail. Six Sigma wasn’t the cause and final end result of their improvement, nor their excellence! Over the past few years I have been working with companies to achieve their strategies. What this has meant is looking at business in a holistic manner and making sure each piece of a strategic plan is budgeted for and is executed to achieve the desired results, or better. Essentially companies realize that no matter what happens in their strategic planning sessions they are not realizing the results they’d like to see. Yes, one can just imagine FORD exec’s saying “OK guys we’re going to drop $12 Billion this next year”! What this means is companies needs to improve their performance in a multitude of areas. This can be done without a name brand process, or a software package. To reiterate, it’s not about ERPs, CRMs, Lean, Six Sigma, TQM, or anything else you can think of. Sure you may add one later but that isn’t the reason for success, although it probably will assist in reinforcing the changes that are made along the way. The key to excellence in performance is rather simple; It’s not easy but it is simple. 1. Have a great strategy. This very simple strategy is often scoffed at as not possibly being able to work. The reasons for chuckles are typically; “my business is too complex”, “we’re different”, and “you don’t understand my business.”, I’m sure you have all heard these and more, yet this process has never failed. It’s tried and tested. Everything else clouds your vision and makes things seem more complex than they really are. There are, however, any number of small, middle market, and transitional businesses who have grown 3 - 5x their revenue using this very simple strategy. Again, the simplicity should not overshadow the difficulty of actually implementing it. It is tough. Peop What Should You Expect From Your Employer? anization. Business owners and managers often mention GE’s success and Six Sigma in the same breath. What they fail to realize is Six Sigma was part of an overall plan. Some GE companies only started on their road to excellence and using Six Sigma after many years had been spent re organizing, redesigning, re hiring and focusing the business in minute detail. Six Sigma wasn’t the cause and final end result of their improvement, nor their excellence!What should you expect from your employer if you want to be a first-class player and a winner?Foremost, you should expect to be provided with an environment of opportunity in which hard work and achievement are rewarded. This means you will be encouraged to grow as fast as you can, broadening your capabilities and building your experience every step of the way. You will be allowed to assume all the responsibilities you can handle.This environment of opportunity should allow you to take common sense risks with the assurance that you will be rewarded if you are right and not punished if you turn out to be wrong.You should expect your employer to provide you with the assets you n Over the past few years I have been working with companies to achieve their strategies. What this has meant is looking at business in a holistic manner and making sure each piece of a strategic plan is budgeted for and is executed to achieve the desired results, or better. Essentially companies realize that no matter what happens in their strategic planning sessions they are not realizing the results they’d like to see. Yes, one can just imagine FORD exec’s saying “OK guys we’re going to drop $12 Billion this next year”! What this means is companies needs to improve their performance in a multitude of areas. This can be done without a name brand process, or a software package. To reiterate, it’s not about ERPs, CRMs, Lean, Six Sigma, TQM, or anything else you can think of. Sure you may add one later but that isn’t the reason for success, although it probably will assist in reinforcing the changes that are made along the way. The key to excellence in performance is rather simple; It’s not easy but it is simple. 1. Have a great strategy. This very simple strategy is often scoffed at as not possibly being able to work. The reasons for chuckles are typically; “my business is too complex”, “we’re different”, and “you don’t understand my business.”, I’m sure you have all heard these and more, yet this process has never failed. It’s tried and tested. Everything else clouds your vision and makes things seem more complex than they really are. There are, however, any number of small, middle market, and transitional businesses who have grown 3 - 5x their revenue using this very simple strategy. Again, the simplicity should not overshadow the difficulty of actually implementing it. It is tough. Peop Entrepreneurial Skills Secrets r strategic planning sessions they are not realizing the results they’d like to see. Yes, one can just imagine FORD exec’s saying “OK guys we’re going to drop $12 Billion this next year”!What if you knew some skills that could help grow your business faster? One may say it’s all about customer service and how happy your customers are, but there is more to it than that.There are certain skills sets that will help you in growing your business faster. What are they? How can you grow your business faster? How can you spend less time in your business?Do you spend a lot of hours in your business? Do you wish you had employees that did just a portion of the amount of work that you did? Why is it so hard to find staff that will stay in your company and not leave just because of greater pay elsewhere?1. Attracting people that contribute to your company’s success.This can be a b What this means is companies needs to improve their performance in a multitude of areas. This can be done without a name brand process, or a software package. To reiterate, it’s not about ERPs, CRMs, Lean, Six Sigma, TQM, or anything else you can think of. Sure you may add one later but that isn’t the reason for success, although it probably will assist in reinforcing the changes that are made along the way. The key to excellence in performance is rather simple; It’s not easy but it is simple. 1. Have a great strategy. This very simple strategy is often scoffed at as not possibly being able to work. The reasons for chuckles are typically; “my business is too complex”, “we’re different”, and “you don’t understand my business.”, I’m sure you have all heard these and more, yet this process has never failed. It’s tried and tested. Everything else clouds your vision and makes things seem more complex than they really are. There are, however, any number of small, middle market, and transitional businesses who have grown 3 - 5x their revenue using this very simple strategy. Again, the simplicity should not overshadow the difficulty of actually implementing it. It is tough. Peop Current Estimate of Economic Impact of Options Backdating I had a discussion with Erik Lie about the experiences with Stock Options Backdating (SOBD) and the economic impact of his work. According to Erik, at least 15% of the stock options grants between 1996 to August, 2002,were backdated. Some were within 30 days of the grant date, others more egregious. The number of companies though he said that were going to come clean would be far less than 15%. Here is what we came up with.First the assumptions:1. # of companies that actually are investigated or asked by the SEC (currenty June 03 is 42) by June 2006 = 1002. # of companies that will complete the 3 step process of preliminary investigation, comprehensive audit and finally restatement of results 3. Aggressively execute the strategy. 4. Measure your results along the way. 5. Celebrate your successes This very simple strategy is often scoffed at as not possibly being able to work. The reasons for chuckles are typically; “my business is too complex”, “we’re different”, and “you don’t understand my business.”, I’m sure you have all heard these and more, yet this process has never failed. It’s tried and tested. Everything else clouds your vision and makes things seem more complex than they really are. There are, however, any number of small, middle market, and transitional businesses who have grown 3 - 5x their revenue using this very simple strategy. Again, the simplicity should not overshadow the difficulty of actually implementing it. It is tough. People are the issue. It’s about challenging paradigms. Moving through false assumptions and mental models which may have become ingrained over many years. So how do you get this right? Get your top team together. For a session with a difference. Develop that strategy that everybody can support from the get-go. Start with assessing and analyzing the things you do well and the things in which you are challenged. Be rigorous and hide nothing. Your failures reversed could just propel you to success. Failures are an indication of trying new things and just not having figured out all the kinks. Develop working guidelines for achieving success when implementing new approaches. Ensure these are in line with your companies values. This step is all too often overlooked and very quickly leads to discontent and resulting failure. Next step is letting each team member developing process based, or even functional based priorities for the year. Present these to the group with the rationale as to their inclusion. Once they’re all up there select no more than ten as the major objectives for the organization. This is not as simple as it sounds, mind you. A good facilitator will certainly help. List those top ten objectives. Determine the metrics of success. Define monthly targets. Determine how to get the data in a format to present to your group and the company to show success. This will be the basis of a monthly review. You’ll be visiting the exceptions in detail and celebrating successes. This will be the cornerstone of achieving strategic success and corporate excellence. Focused monthly review session based on the top ten objectives will place you squarely on the path to success and excellence. Like I said, simple. Not easy. To excellence,
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