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Will You Add? - What About Doing Nothing?
In order to begin job hunting it is necessary for one to know his/her aptitude before he or she chooses a course and a career option. The first step towards a successful career is the selection of a right course.JOB hunting is one of the top priorities for candidates passing out XIIth exams. What are the present employment opportunities, which career to opt for and careers that they should go ahead etc becomes a matter of concern to all candidates.The first step to a successful career is the selection of a right course. Career can be in Accounts, Finance, Share Market, Marketing Sales etc. There are ample career options to choose from. But it is most important for one to know his/her own aptitude before he/she chooses a course & a career option. Many institutes do provide job opportunities along with the training in field of Accounts. However if a candid
Of course, you WILL hit the jackpot if you identify just one project that removes the key obstacle to improving profitability and apply resource to making just that happen. Elsewhere you simply change nothing. Is that so outrageous?
***************************** by James La Trobe-Bateman, Founder of reMODEL Consultants International Ltd.
About the Author: James La Trobe-Bateman. Co-author of NEW BOOK 'Bridge Of Faith for Operations with examples in Medical Device & Diagnostics'. Presented with 'Global Innovation Award' by Bristol-Myers Squibb. Nicknamed the 'dynamic duo' by operations director for a division of Johnson & Johnson.
Over 25 years ago in oil & petrochemical industry, he first started predicting the effects of one change on all parts of the organization. Inspired by Eli Goldratt in the early 80's. For over 15 years now in the Healthcare Manufacturing Industry, James very passionately continues to drive highly successful, ongoing Operations Improvements as well as resolve New Product Development & Market issues Internationally.
James has won various prestigious awards over the years for his work. He is a Chartered
You have a concept for a business, you have written a detailed business plan, and you have submitted it to literally hundreds of banks, financiers and venture capital companies and everyone has declined any further interest.You cannot understand why absolutely no one is interested in your business venture. After all your concept is unique and the financial statements that you have put together, as part of your business plan, shows that the proposed business venture is going to make millions of dollars.In the mind of any financier, be it a banker, angel investor, or venture capitalist, first and foremost is the qualifications of the management of the new company. The best idea in the world will not be successful if the management is not capable of implementing it.The first thing that a potential investor considers is the background of the proposed
* Your attention will not be diverted from the daily need to meet customers’ needs
* You will not create anxiety amongst your people that they are about to be “restructured”
* You will save the cost of the project resources needed to make those changes happen.
So why are you hell-bent on throwing it all up in the air and changing everything? The issue is not really changing nothing, but not changing everything. You can be sure that there is something you must do to continue to compete. Have you identified what it is? Maybe you know that you need to change, but are not clear what and why. So you change more than you need in order to be sure that you nail the real problem.
Let’s put this into context. Suppose that your business supplies healthcare equipment across the world. You have to develop products, market, sell, make, distribute, and service them to your customers. You expect to make a profit and you would like to make more. You call for ideas. In a typical organisation this is how different functions might react to such a call.
* Product Development Make the best use of the technology that you have to develop new products with the minimum of effort and risk in the quickest time
* Production Reduce Unit Manufacturing Cost
* Distribution Use the 80-20 rule to sell more to the minority of customers that are most profitable
* Field Service Reduce headcount
* Marketing Seek new high value niches or new markets for existing products
Is this the best approach?
Resource Needed
Whenever you try to do something differently, you must create a 'project' to make things happen. Projects absorb effort, even when managed by the existing staff. So, in the case of Product Development, for example, the efforts to work out how to match existing technology to new product needs will actually reduce the resource available to actually develop products. This may indeed pay off, but not necessarily so. Certainly in Production, reducing cost will require teams of professionals (industrial engineers, lean experts) to plan and manage what has to be done. Implementation will absorb the energies of the production staff as well as incur the expense of the change agents. Presumably Marketing will need to research new niches and then fight internal battles (often of a political nature) with their peers and managers to accept their new ideas. This is again resource sapping. Overall, investment of resource (and that boils down to money) is needed to make things happen across all these functions. The more things that you change, the more resource it will consume.
Will it Lead to More Profit?
In principle, all of the above actions could lead to more revenue for less expense, i.e. more profit. In practice, all of the above actions could also lead to more revenue with more expense, or less expense but lower revenues:
Product Development
If the cost structure and performance of your products is in fact largely determined by the current technology (for example, in diagnostics the use of micro-titre wells) then the only long term way to eliminate constraints to cost and performance must be by adopting a new technology.
Production
Suppose that you can adopt a '6 sigma' philosophy. This will involve a large investment in training and staff. Their choice of projects will be compromised by the need to do things that fullfill Black Belt certification timescales (for example). Further, in a highly regulated environment, you will soon find that you need to change things that will involve validation that is expensive or takes too long. At the end of this exercise, you might be lucky to get your money back on the investment.
Distribution
You may decide to promote a current best-selling product to more of your best customers. However, their calculation of “profit” will be based on transfer prices from the factory. The true profit margins may well be completely different. This means that the organisation as a whole may end up making less profit from the change.
Field Service
This department is widely regarded as just expense. The only way to reduce it is to reduce headcount. This could well lead to poorer service to the customer. Eventually you pay the price in losing customers. You reduce expense, but then reduce revenue too.
Marketing
It will be difficult for marketing to assess the incremental operating expense for any new markets that they enter. If the extra revenues are not up to expectation, then profits will not be as good as they hoped.
Could You Do Better?
It is clear that an uncoordinated approach will definitely involve extra expense in the short term and is unlikely to produce the best possible increase in profit for that extra effort. This means that at best you will have improved profitability, but you will certainly have spent more effort than you needed to do so. There is a worse scenario. Suppose the key constraint on profitability lies outside the individual remit of any of the departments, or more probably depends on actions across departments. In this case, you will not achieve any kind of “breakthrough” improvement at all. You will effectively get nothing for your money. Doing nothing in this situation is better than doing a lot that is ineffective.
Of course, you WILL hit the jackpot if you identify just one project that removes the key obstacle to improving profitability and apply resource to making just that happen. Elsewhere you simply change nothing. Is that so outrageous?
***************************** by James La Trobe-Bateman, Founder of reMODEL Consultants International Ltd.
About the Author: James La Trobe-Bateman. Co-author of NEW BOOK 'Bridge Of Faith for Operations with examples in Medical Device & Diagnostics'. Presented with 'Global Innovation Award' by Bristol-Myers Squibb. Nicknamed the 'dynamic duo' by operations director for a division of Johnson & Johnson.
Over 25 years ago in oil & petrochemical industry, he first started predicting the effects of one change on all parts of the organization. Inspired by Eli Goldratt in the early 80's. For over 15 years now in the Healthcare Manufacturing Industry, James very passionately continues to drive highly successful, ongoing Operations Improvements as well as resolve New Product Development & Market issues Internationally.
James has won various prestigious awards over the years for his work. He is a Chartered
There is a Science of Getting Rich! There's also a very powerful book that will tell you exactly how. It is VERY powerful and if you read it once, you will read it again and again. Best of all it's FREE.Wallace Wattles and this book will open your eyes and make you see things much more clearly.The first time I read The Science of Getting Rich I just knew that what it was saying was true and since putting it into practice I've become a very different person with a very different outlook on life!The book was written nearly 100 years ago but the words are just as applicable to success and wealth now as they were then. I suggest you download a FREE copy of the ebook and begin reading it as soon as you have the chance.Another great way to truly absorb the information is to get it on audio or even read it out loud and record it yourself. List
* Production Reduce Unit Manufacturing Cost
* Distribution Use the 80-20 rule to sell more to the minority of customers that are most profitable
* Field Service Reduce headcount
* Marketing Seek new high value niches or new markets for existing products
Is this the best approach?
Resource Needed
Whenever you try to do something differently, you must create a 'project' to make things happen. Projects absorb effort, even when managed by the existing staff. So, in the case of Product Development, for example, the efforts to work out how to match existing technology to new product needs will actually reduce the resource available to actually develop products. This may indeed pay off, but not necessarily so. Certainly in Production, reducing cost will require teams of professionals (industrial engineers, lean experts) to plan and manage what has to be done. Implementation will absorb the energies of the production staff as well as incur the expense of the change agents. Presumably Marketing will need to research new niches and then fight internal battles (often of a political nature) with their peers and managers to accept their new ideas. This is again resource sapping. Overall, investment of resource (and that boils down to money) is needed to make things happen across all these functions. The more things that you change, the more resource it will consume.
Will it Lead to More Profit?
In principle, all of the above actions could lead to more revenue for less expense, i.e. more profit. In practice, all of the above actions could also lead to more revenue with more expense, or less expense but lower revenues:
Product Development
If the cost structure and performance of your products is in fact largely determined by the current technology (for example, in diagnostics the use of micro-titre wells) then the only long term way to eliminate constraints to cost and performance must be by adopting a new technology.
Production
Suppose that you can adopt a '6 sigma' philosophy. This will involve a large investment in training and staff. Their choice of projects will be compromised by the need to do things that fullfill Black Belt certification timescales (for example). Further, in a highly regulated environment, you will soon find that you need to change things that will involve validation that is expensive or takes too long. At the end of this exercise, you might be lucky to get your money back on the investment.
Distribution
You may decide to promote a current best-selling product to more of your best customers. However, their calculation of “profit” will be based on transfer prices from the factory. The true profit margins may well be completely different. This means that the organisation as a whole may end up making less profit from the change.
Field Service
This department is widely regarded as just expense. The only way to reduce it is to reduce headcount. This could well lead to poorer service to the customer. Eventually you pay the price in losing customers. You reduce expense, but then reduce revenue too.
Marketing
It will be difficult for marketing to assess the incremental operating expense for any new markets that they enter. If the extra revenues are not up to expectation, then profits will not be as good as they hoped.
Could You Do Better?
It is clear that an uncoordinated approach will definitely involve extra expense in the short term and is unlikely to produce the best possible increase in profit for that extra effort. This means that at best you will have improved profitability, but you will certainly have spent more effort than you needed to do so. There is a worse scenario. Suppose the key constraint on profitability lies outside the individual remit of any of the departments, or more probably depends on actions across departments. In this case, you will not achieve any kind of “breakthrough” improvement at all. You will effectively get nothing for your money. Doing nothing in this situation is better than doing a lot that is ineffective.
Of course, you WILL hit the jackpot if you identify just one project that removes the key obstacle to improving profitability and apply resource to making just that happen. Elsewhere you simply change nothing. Is that so outrageous?
***************************** by James La Trobe-Bateman, Founder of reMODEL Consultants International Ltd.
About the Author: James La Trobe-Bateman. Co-author of NEW BOOK 'Bridge Of Faith for Operations with examples in Medical Device & Diagnostics'. Presented with 'Global Innovation Award' by Bristol-Myers Squibb. Nicknamed the 'dynamic duo' by operations director for a division of Johnson & Johnson.
Over 25 years ago in oil & petrochemical industry, he first started predicting the effects of one change on all parts of the organization. Inspired by Eli Goldratt in the early 80's. For over 15 years now in the Healthcare Manufacturing Industry, James very passionately continues to drive highly successful, ongoing Operations Improvements as well as resolve New Product Development & Market issues Internationally.
James has won various prestigious awards over the years for his work. He is a Chartered
Job loss can be extremely painful because we have to start over and create a new identity. Clients tell me their feelings are similar to what they experienced during a bitter divorce -- a special form of the midlife crisis.Losing a career or business can also be a source of grief, anger and frustration. Starting a new business is an end as well as a beginnig. You may feel as though you are getting a divorce after a twenty-year marriage. Here's why.1. Sometimes the career leaves you. The field wants "younger people." Or you have to change in ways that violate your sense of self.2. Sometimes you leave a career that seems perfectly wonderful and fulfilling to those on the outside. "The money's so good," your mother says, "and it's not as if you're scrubbing floors all day. Can't you just hang in there and pretend you like it?"3.
Will it Lead to More Profit?
In principle, all of the above actions could lead to more revenue for less expense, i.e. more profit. In practice, all of the above actions could also lead to more revenue with more expense, or less expense but lower revenues:
Product Development
If the cost structure and performance of your products is in fact largely determined by the current technology (for example, in diagnostics the use of micro-titre wells) then the only long term way to eliminate constraints to cost and performance must be by adopting a new technology.
Production
Suppose that you can adopt a '6 sigma' philosophy. This will involve a large investment in training and staff. Their choice of projects will be compromised by the need to do things that fullfill Black Belt certification timescales (for example). Further, in a highly regulated environment, you will soon find that you need to change things that will involve validation that is expensive or takes too long. At the end of this exercise, you might be lucky to get your money back on the investment.
Distribution
You may decide to promote a current best-selling product to more of your best customers. However, their calculation of “profit” will be based on transfer prices from the factory. The true profit margins may well be completely different. This means that the organisation as a whole may end up making less profit from the change.
Field Service
This department is widely regarded as just expense. The only way to reduce it is to reduce headcount. This could well lead to poorer service to the customer. Eventually you pay the price in losing customers. You reduce expense, but then reduce revenue too.
Marketing
It will be difficult for marketing to assess the incremental operating expense for any new markets that they enter. If the extra revenues are not up to expectation, then profits will not be as good as they hoped.
Could You Do Better?
It is clear that an uncoordinated approach will definitely involve extra expense in the short term and is unlikely to produce the best possible increase in profit for that extra effort. This means that at best you will have improved profitability, but you will certainly have spent more effort than you needed to do so. There is a worse scenario. Suppose the key constraint on profitability lies outside the individual remit of any of the departments, or more probably depends on actions across departments. In this case, you will not achieve any kind of “breakthrough” improvement at all. You will effectively get nothing for your money. Doing nothing in this situation is better than doing a lot that is ineffective.
Of course, you WILL hit the jackpot if you identify just one project that removes the key obstacle to improving profitability and apply resource to making just that happen. Elsewhere you simply change nothing. Is that so outrageous?
***************************** by James La Trobe-Bateman, Founder of reMODEL Consultants International Ltd.
About the Author: James La Trobe-Bateman. Co-author of NEW BOOK 'Bridge Of Faith for Operations with examples in Medical Device & Diagnostics'. Presented with 'Global Innovation Award' by Bristol-Myers Squibb. Nicknamed the 'dynamic duo' by operations director for a division of Johnson & Johnson.
Over 25 years ago in oil & petrochemical industry, he first started predicting the effects of one change on all parts of the organization. Inspired by Eli Goldratt in the early 80's. For over 15 years now in the Healthcare Manufacturing Industry, James very passionately continues to drive highly successful, ongoing Operations Improvements as well as resolve New Product Development & Market issues Internationally.
James has won various prestigious awards over the years for his work. He is a Chartered
There are approximately 20 various types of insurance policies available and auto, home, life and health top the charts.The concept of insurance has been recorded to be first practiced as far back as 2nd and 3rd millennium B.C. Just about anything you think about or hold value too these days can be insured. Auto or vehicle insurance is one of the most common types of insurance and is a basic policy to protect you against losses incurred from car accidents, theft, vandalism and various other mishaps. Auto insurance can be purchased for different vehicles like cars and trucks as well as recreational items like motorbikes, boats and motor homes. In recent years the internet has been instrumental in helping people to know the various policies available to meet their needs and compare prices.What's auto insurance for anyway?Auto insurance is basically
Field Service
This department is widely regarded as just expense. The only way to reduce it is to reduce headcount. This could well lead to poorer service to the customer. Eventually you pay the price in losing customers. You reduce expense, but then reduce revenue too.
Marketing
It will be difficult for marketing to assess the incremental operating expense for any new markets that they enter. If the extra revenues are not up to expectation, then profits will not be as good as they hoped.
Could You Do Better?
It is clear that an uncoordinated approach will definitely involve extra expense in the short term and is unlikely to produce the best possible increase in profit for that extra effort. This means that at best you will have improved profitability, but you will certainly have spent more effort than you needed to do so. There is a worse scenario. Suppose the key constraint on profitability lies outside the individual remit of any of the departments, or more probably depends on actions across departments. In this case, you will not achieve any kind of “breakthrough” improvement at all. You will effectively get nothing for your money. Doing nothing in this situation is better than doing a lot that is ineffective.
Of course, you WILL hit the jackpot if you identify just one project that removes the key obstacle to improving profitability and apply resource to making just that happen. Elsewhere you simply change nothing. Is that so outrageous?
***************************** by James La Trobe-Bateman, Founder of reMODEL Consultants International Ltd.
About the Author: James La Trobe-Bateman. Co-author of NEW BOOK 'Bridge Of Faith for Operations with examples in Medical Device & Diagnostics'. Presented with 'Global Innovation Award' by Bristol-Myers Squibb. Nicknamed the 'dynamic duo' by operations director for a division of Johnson & Johnson.
Over 25 years ago in oil & petrochemical industry, he first started predicting the effects of one change on all parts of the organization. Inspired by Eli Goldratt in the early 80's. For over 15 years now in the Healthcare Manufacturing Industry, James very passionately continues to drive highly successful, ongoing Operations Improvements as well as resolve New Product Development & Market issues Internationally.
James has won various prestigious awards over the years for his work. He is a Chartered
Before you go into the interview, it is important to know what salary you want, what you need to live on, and what you will be prepared to accept. Spend some time working out your budget. Remember to factor into your calculations the remuneration you'll need in the future.Decide what types of benefits are important to you. A compensation package might include: flexible work schedule, option to work at home, relocation expenses, pension and insurance plans, company car, holidays, stock options, profit-sharing, training opportunities, etc. By evaluating these beforehand, you can concentrate on bargaining in the negotiation process.It is important to know your market value. You can do this by consulting professional associations, job advertisements, business and trade periodicals, employment agencies, executive search companies, career-related websites,
Of course, you WILL hit the jackpot if you identify just one project that removes the key obstacle to improving profitability and apply resource to making just that happen. Elsewhere you simply change nothing. Is that so outrageous?
***************************** by James La Trobe-Bateman, Founder of reMODEL Consultants International Ltd.
About the Author: James La Trobe-Bateman. Co-author of NEW BOOK 'Bridge Of Faith for Operations with examples in Medical Device & Diagnostics'. Presented with 'Global Innovation Award' by Bristol-Myers Squibb. Nicknamed the 'dynamic duo' by operations director for a division of Johnson & Johnson.
Over 25 years ago in oil & petrochemical industry, he first started predicting the effects of one change on all parts of the organization. Inspired by Eli Goldratt in the early 80's. For over 15 years now in the Healthcare Manufacturing Industry, James very passionately continues to drive highly successful, ongoing Operations Improvements as well as resolve New Product Development & Market issues Internationally.
James has won various prestigious awards over the years for his work. He is a Chartered Engineer, Member of the Institute of Mechanical Engineers and graduate of Cambridge Univ.
You are probably trying to change many things. If you could only change one, what would it be?
You can reach James La Trobe-Bateman at to find out where to start. www.remodel.co.uk
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