| Suggest You |
Hubs | Hubbers | Topics | Request |
| #1 in Business | Subscribe Email Print |
|
You are here: Home > Business > Management > How Do You Manage the 'Unmeasurable'? |
|
Suggest You - How Do You Manage the 'Unmeasurable'?
Preparing Your Business for Sale of the ideal state you would like to see, you can make an honest assessment of where you are and where you would like to get to in your business, without it being too intimidating or abstract for people to grasp. The gap between where you are now and where you aspire to be gives you the basic material to draw up a credible action plan.The process from deciding you want to sell your business, to the time the business is sold can last as long as 5 years. To prepare yourself and the company it is better to break things down in stages.Stage 1 Strengthen business operations You want any prospective buyer to view the company in a good light, to do this you need to start strengthening your business model as much a possible. You want to put as much value as possible on the business. Even if the business does not sell, this is good sound business practice, secrecy in this stage is vital.Stage 2 Pre- Some Pitfalls! There are two major pitfalls to avoid. Be careful to use the statements, not to criticise and complain about the current state of the business, but to inspire people, and as the raw material for building an effective way forward. And be willing to use professional help where needed, especially when dealing with the need to shift fundamental mindsets and deep-rooted excuses for underperfor Why a Database Can be a Goldmine For Your Business Have you ever noticed that some of the great stuff you want to show up in your business is not easily measured? It's easy to measure quantities, of money, production, sales calls, numbers of time the phone rings before it's answered... Because it's easier, businesses tend to default to measuring and managing only straightforwardly quantifiable things.If you own a business then customers are the life blood of your business. The biggest mistake you can make in business is to assume people will be buy from again if they have bought from you previously, without inviting them to.If you sell something people only buy once or once every 10 years or so, you are assuming they don’t know anyone who might buy from you. Again this is a big mistake!Market research has proven a few points relative to both of these areas.First of all, 67% of people who buy from a business wont do so again because of one reason, perceived in diffe Quantifiable stuff has to be measured in business, it's true. You'd be failing in your accountability to your bosses, your bankers and your shareholders if you didn't do it. And by and large most business leaders make a pretty good job of measuring the results these people wish to see. But these alone don't tell you that everything you want to happen is happening. What about teamwork, values, customer service, people's attitudes? Of course, if a thing is worth doing, the value will fall to the bottom line - eventually. However, bottom-line results take longer to show up - they are ‘lagging indicators' of business success. By the time you've missed your revenue target, it's by definition too late to do something about it, this time around. And it's sometimes possible in the short term to produce apparently good bottom-line results by using inappropriate business practices, which will in the longer term actually damage your business. So how do You Measure the ‘Other Stuff'? How do you measure that you are making progress in all those good things you instinctively know are at the root of a successful, satisfying, sustainable business? It may seem that these things cannot be measured, but if you ‘know it when you see it', then you are using a set of criteria. You might dismiss it as ‘gut feel', but that would be a mistake. You will find there is a remarkable correlation between people's ‘gut feel' about what constitutes great teamwork, or good customer service, for example. People are by and large operating from a set of reproducible criteria. With a bit of rigorous thinking, you can come up with a set of clear objective statements for the target behaviour. Then it's a short step to being able to note instances of the behaviour being employed, to setting targets for increasing the incidence of the behaviour, and to creating plans for improving performance. What Might it Look Like in Practice? Let's look at the area of Performance. Some Performance targets - what concrete, tangible, measurable targets you want to achieve - are pretty easy to come up with. How often, though do you also set clearly measurable expectations for how people produce results? How would it be for example if you were to assess your organisation against the following standards:
Using clear statements like these of the ideal state you would like to see, you can make an honest assessment of where you are and where you would like to get to in your business, without it being too intimidating or abstract for people to grasp. The gap between where you are now and where you aspire to be gives you the basic material to draw up a credible action plan. Some Pitfalls! There are two major pitfalls to avoid. Be careful to use the statements, not to criticise and complain about the current state of the business, but to inspire people, and as the raw material for building an effective way forward. And be willing to use professional help where needed, especially when dealing with the need to shift fundamental mindsets and deep-rooted excuses for underperform Career as a Senior Accounting Manager, SOX rvice, people's attitudes? Of course, if a thing is worth doing, the value will fall to the bottom line - eventually. However, bottom-line results take longer to show up - they are ‘lagging indicators' of business success. By the time you've missed your revenue target, it's by definition too late to do something about it, this time around. And it's sometimes possible in the short term to produce apparently good bottom-line results by using inappropriate business practices, which will in the longer term actually damage your business.It seems in the United States of America we have a shortage of accounting managers at most all of the large corporations into this is because of all the new Securities and Exchange Commission rules and regulations, such as enforcing the Sarbanes Oxley Laws. Of course if you are a Senior Accounting Manager in charge of SOX for a large or medium-sized company you will make at least six figures a year. Some of the starting salaries are $150,000. Why so high you ask?Well the shortages are that great and for some companies who may have questionable accounting practices or they are perce So how do You Measure the ‘Other Stuff'? How do you measure that you are making progress in all those good things you instinctively know are at the root of a successful, satisfying, sustainable business? It may seem that these things cannot be measured, but if you ‘know it when you see it', then you are using a set of criteria. You might dismiss it as ‘gut feel', but that would be a mistake. You will find there is a remarkable correlation between people's ‘gut feel' about what constitutes great teamwork, or good customer service, for example. People are by and large operating from a set of reproducible criteria. With a bit of rigorous thinking, you can come up with a set of clear objective statements for the target behaviour. Then it's a short step to being able to note instances of the behaviour being employed, to setting targets for increasing the incidence of the behaviour, and to creating plans for improving performance. What Might it Look Like in Practice? Let's look at the area of Performance. Some Performance targets - what concrete, tangible, measurable targets you want to achieve - are pretty easy to come up with. How often, though do you also set clearly measurable expectations for how people produce results? How would it be for example if you were to assess your organisation against the following standards:
Using clear statements like these of the ideal state you would like to see, you can make an honest assessment of where you are and where you would like to get to in your business, without it being too intimidating or abstract for people to grasp. The gap between where you are now and where you aspire to be gives you the basic material to draw up a credible action plan. Some Pitfalls! There are two major pitfalls to avoid. Be careful to use the statements, not to criticise and complain about the current state of the business, but to inspire people, and as the raw material for building an effective way forward. And be willing to use professional help where needed, especially when dealing with the need to shift fundamental mindsets and deep-rooted excuses for underperfor ISO 9000 Elements may seem that these things cannot be measured, but if you ‘know it when you see it', then you are using a set of criteria. You might dismiss it as ‘gut feel', but that would be a mistake. You will find there is a remarkable correlation between people's ‘gut feel' about what constitutes great teamwork, or good customer service, for example. People are by and large operating from a set of reproducible criteria.ISO 9000 is a set of standards for quality management systems. Perhaps, it is the most popular generic international standard today. First published in 1987 and modified in 1994, it is the true basis for businesses to develop or improve their quality assurance systems. Today, most international businesses document their quality systems according to the ISO 9001 elements.There are a total of 20 elements (sections) in the overall ISO 9000 standard. Each section explains what a company has to do in order to show that it is abiding by the ISO 9000 rules. Each of these elements should be With a bit of rigorous thinking, you can come up with a set of clear objective statements for the target behaviour. Then it's a short step to being able to note instances of the behaviour being employed, to setting targets for increasing the incidence of the behaviour, and to creating plans for improving performance. What Might it Look Like in Practice? Let's look at the area of Performance. Some Performance targets - what concrete, tangible, measurable targets you want to achieve - are pretty easy to come up with. How often, though do you also set clearly measurable expectations for how people produce results? How would it be for example if you were to assess your organisation against the following standards:
Using clear statements like these of the ideal state you would like to see, you can make an honest assessment of where you are and where you would like to get to in your business, without it being too intimidating or abstract for people to grasp. The gap between where you are now and where you aspire to be gives you the basic material to draw up a credible action plan. Some Pitfalls! There are two major pitfalls to avoid. Be careful to use the statements, not to criticise and complain about the current state of the business, but to inspire people, and as the raw material for building an effective way forward. And be willing to use professional help where needed, especially when dealing with the need to shift fundamental mindsets and deep-rooted excuses for underperfor Unclaimed Payroll Check t Look Like in Practice?Unclaimed or uncashed payroll checks handled incorrectly by an employer can result in serious trouble for the employer. Prior to implementing a policy on how your company handles these types of checks, there are several issues to consider:Every state has escheat laws that affect unclaimed or abandoned property. In general the laws require that such property, including the funds from uncashed and/or unclaimed payroll checks, be turned over to the state after a designated period. That period and possibly a minimum amount vary from state to state. The state then holds the items for th Let's look at the area of Performance. Some Performance targets - what concrete, tangible, measurable targets you want to achieve - are pretty easy to come up with. How often, though do you also set clearly measurable expectations for how people produce results? How would it be for example if you were to assess your organisation against the following standards:
Using clear statements like these of the ideal state you would like to see, you can make an honest assessment of where you are and where you would like to get to in your business, without it being too intimidating or abstract for people to grasp. The gap between where you are now and where you aspire to be gives you the basic material to draw up a credible action plan. Some Pitfalls! There are two major pitfalls to avoid. Be careful to use the statements, not to criticise and complain about the current state of the business, but to inspire people, and as the raw material for building an effective way forward. And be willing to use professional help where needed, especially when dealing with the need to shift fundamental mindsets and deep-rooted excuses for underperfor Remain a Professional Even When You are Being Laid Off of the ideal state you would like to see, you can make an honest assessment of where you are and where you would like to get to in your business, without it being too intimidating or abstract for people to grasp. The gap between where you are now and where you aspire to be gives you the basic material to draw up a credible action plan.So you’re hearing rumors around work about downsizing and lay-offs within the company. While your first reaction may be to start helping yourself to office supplies- DON’T. At this point, you’re not even sure if it’s you going to be laid off, and this could give your boss a reason to include you on the Pink Slip List.Now, more than ever, it’s important for you to stay focused and continue to act like the professional you are. Even though you may fantasize about it, now is not the time to march into the office and tell your boss what you really think of him or her. Chances are yo Some Pitfalls! There are two major pitfalls to avoid. Be careful to use the statements, not to criticise and complain about the current state of the business, but to inspire people, and as the raw material for building an effective way forward. And be willing to use professional help where needed, especially when dealing with the need to shift fundamental mindsets and deep-rooted excuses for underperformance. Staying on Track Whether you are dealing with a whole organisation, a team, or an individual, with a bit of help you can always define very accurately what you are looking for. Sometimes it helps to have someone ‘interview' you to be able to put words to your 'gut feel'. The effort is well worth it, though. What you end up with is a clear articulation of your values, standards and expectations that can be measured and therefore managed proactively. This provides you, your colleagues and staff with a clear guide to the steps they need to take to achieve success in your organisation. And you don't need to wait for the end of the year, or the quarter, to know you are on track for tangible, quantifiable success! ==> for more information view the original newsletter article here <==
HTTP = HTML link (for blogs, profiles,phorums):
Related Articles:Nigerian Bank Applies To Raise Funds From Capital Market How Can ISO 9001:2000 be Applied to Healthcare?
|