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Add You - Support not Reports – A new way to think about Management Information.
7) Why are you interested in this position?When you are an accountant and you are applying at an accounting firm, it is pretty obvious why you are interested; you are interested in using your acquired education, skills, and knowledge in your career field.However, maybe the position is a cashier for a store and you just want a job; you do not have a brilliant answer to offer. Not to worry. Do not discount very basic answers such as "I need to earn money to support myself and/or my family," or "I want more out of life, and I need to work if I am going to have a better lifestyle for my family.” Employers like employees who need to work; such employees are m
2/ Ensure that your business objectives are S.M.A.R.T.– (Specific, Measurable, Achievable, Realistic, Time). By havi
Everybody, all Internet sailed searching business-oriented chances loads to a strong desire: to increase its income. Some more than this, or either, they desire to change life, to work in a more pleasant way.I particularly have this yearning. I interpret this as a dream. To dream is a basic requirement of the human being. We dream with good feeding, a good car, a good house, and international trips. These are a very common behavior for who types and click searching for a home business, mainly made from its own house.Thus, to dream of new material and incorporeal objects highly is related to dream of quality of life.However, is the InterNet trustworthy to invest in a p
Too often, however, management data is produced which just doesn’t assist the business decision process it may just portray a picture or status – This explains your current position but doesn’t provide any detail on targets (missed or achieved) action plans or what should be done about the problems that the statistic is portraying – too often management data doesn’t actually tell you anything at all – metrics are produced as a set of numbers that require interpreting to make use of, such data is often not geared towards either strategic or operational objectives! For management information to make a difference and support the business decision making process – this mindset must change.
An example – say that you were a Procurement Manager with a target to consolidate spend within key commodities – you could have a monthly report that shows you the total number of suppliers transacted with – your data analyst gives you a report that shows you a list of 136 suppliers with their names and addresses – great – first question - what’s it telling you? - you have a target to consolidate spend so your management reports need to support your decision making process rather than just providing a snapshot – going back to our procurement manager – he’d be better off with a report showing him the actual supplier profile vs the targeted supplier profile – throw in some commodity groupings and % weighting of spend per supplier and we’ve got something useful – straight away we can begin to hone in on the tail end of our supply chain and look at rationalisation options.
There are a number of tools that you can use to ensure that your management information is produced in support of your business requirements.
1/ Rule 1 – make sure that the information being produced is suitable for the audience that consumes it. Think of your management information needs as a three tiered pyramid – at the bottom sits operational requirements of the workforce – in the second tier partially consolidated requirements of management, at the top tier sit the chief Execs and VP’s who consume fully consolidated reports of the whole company performance.
2/ Ensure that your business objectives are S.M.A.R.T.– (Specific, Measurable, Achievable, Realistic, Time). By havin
As a young man I ran a company, which cleaned and detailed cars at office buildings, homes and government agencies. Each morning I would get in my pick-up truck and go to all the job sites to make sure every thing was working fine and all the units were at all the pre-assigned scheduled route locations. Often I would get out of my vehicle across the street and walk into the parking lots as a regular citizen to see how things were going.I would look for trash around the work site and make sure everyone was working and doing a good job without causing any problems. Usually I would also see customers and I knew who many of them were because I had built each route myself before turning
An example – say that you were a Procurement Manager with a target to consolidate spend within key commodities – you could have a monthly report that shows you the total number of suppliers transacted with – your data analyst gives you a report that shows you a list of 136 suppliers with their names and addresses – great – first question - what’s it telling you? - you have a target to consolidate spend so your management reports need to support your decision making process rather than just providing a snapshot – going back to our procurement manager – he’d be better off with a report showing him the actual supplier profile vs the targeted supplier profile – throw in some commodity groupings and % weighting of spend per supplier and we’ve got something useful – straight away we can begin to hone in on the tail end of our supply chain and look at rationalisation options.
There are a number of tools that you can use to ensure that your management information is produced in support of your business requirements.
1/ Rule 1 – make sure that the information being produced is suitable for the audience that consumes it. Think of your management information needs as a three tiered pyramid – at the bottom sits operational requirements of the workforce – in the second tier partially consolidated requirements of management, at the top tier sit the chief Execs and VP’s who consume fully consolidated reports of the whole company performance.
2/ Ensure that your business objectives are S.M.A.R.T.– (Specific, Measurable, Achievable, Realistic, Time). By havi
I was trying to figure out a way to work the Pittsburgh Steelers into a Weekly Insight, particularly after our hometown team earned the right to be called “World Champions.” I realize that not everyone who reads these Weekly Insights hails from Western Pennsylvania (and some of you might not care for the Steelers at all), but hang in there with me on this one. “Steelers mean business” was the title of an Associated Press article on February 4, 2006. Dr. Joanne G. Dujansky, the founder of KEYGroup, a Pittsburgh business that counsels companies on creating a successful corporate culture was quoted in the article as follows: “The Steelers’ winning tradition didn’t start yesterday. It sta
An example – say that you were a Procurement Manager with a target to consolidate spend within key commodities – you could have a monthly report that shows you the total number of suppliers transacted with – your data analyst gives you a report that shows you a list of 136 suppliers with their names and addresses – great – first question - what’s it telling you? - you have a target to consolidate spend so your management reports need to support your decision making process rather than just providing a snapshot – going back to our procurement manager – he’d be better off with a report showing him the actual supplier profile vs the targeted supplier profile – throw in some commodity groupings and % weighting of spend per supplier and we’ve got something useful – straight away we can begin to hone in on the tail end of our supply chain and look at rationalisation options.
There are a number of tools that you can use to ensure that your management information is produced in support of your business requirements.
1/ Rule 1 – make sure that the information being produced is suitable for the audience that consumes it. Think of your management information needs as a three tiered pyramid – at the bottom sits operational requirements of the workforce – in the second tier partially consolidated requirements of management, at the top tier sit the chief Execs and VP’s who consume fully consolidated reports of the whole company performance.
2/ Ensure that your business objectives are S.M.A.R.T.– (Specific, Measurable, Achievable, Realistic, Time). By havi
There are peculiar natural qualities needed to make a good salesperson, and if you do not have these, you’d better turn your attention to some other career, for you cannot succeed here. Yet two men who are equally good salesmen, may be almost totally unlike. Almost. They must be good judges of human nature. How shall you become a good judge of human nature? You might as well ask me why the violets are blue; I cannot tell you.You need to know human nature because you must please the person with whom you are talking; must make a pleasant impression on him. We do not trade with a disagreeable person unless we are obliged to; we often buy articles we did not expect to purchase just b
There are a number of tools that you can use to ensure that your management information is produced in support of your business requirements.
1/ Rule 1 – make sure that the information being produced is suitable for the audience that consumes it. Think of your management information needs as a three tiered pyramid – at the bottom sits operational requirements of the workforce – in the second tier partially consolidated requirements of management, at the top tier sit the chief Execs and VP’s who consume fully consolidated reports of the whole company performance.
2/ Ensure that your business objectives are S.M.A.R.T.– (Specific, Measurable, Achievable, Realistic, Time). By havi
If this sounds ridiculous to you then chances are you really should read this article.Fact is that print is one of the biggest areas of unregulated expense within an organization. In fact, most companies ignore expenses associated with printing. This typically results in un-metered costs, escalating waste and increased obsolescence from this business necessity. Just like any resource area, an audit will help you identify areas that can be optimized and improved.How Can You Start?Companies can begin to streamline their printing expenses by enlisting the help of an organization skilled in corporate printing audits. Printing audits involve examining historical consumptio
2/ Ensure that your business objectives are S.M.A.R.T.– (Specific, Measurable, Achievable, Realistic, Time). By having objectives that follow these rules – your management information requirements can be structured accordingly – having objectives that are difficult to define or analyse means it will be a struggle to produce clear information that shows performance and aids decision making.
3/ Ensure that Management Information flows to the right people. All staff tend to have some information requirement – however key management reports need to flow to decision makers, who guided by the data can make changes to the business where required – too often by the time statistics are received by the decision maker it’s too late to make changes.
3/ Quality of Data – It’s essential that any management information produced takes account of the data integrity of the system(s) that data is being pulled from. You can produce the most wonderful clear reports but if they are based on flawed data they can have catastrophic results if you choose to run your business by them. Make sure your business has a process for monitoring data quality and corrective action processes should that data have errors.
4/ Don’t forget Pareto’s rule – 80/20 – focus on value. Pareto’s rule stipulated that 80% of the consequences stem from 20% of the causes – make sure that you remember that. For example – you may require management information on supplier performance – and you may have 10,000 suppliers – that’s one big report! – you could refine that search by looking at the suppliers with 80% of the transaction value (likely to be a smaller pool than your original 10,000). Top n reports are also very useful – how about the top 50 worst performing suppliers – remember not to get swamped by your data – focus in on what counts!
5/ Ensure that management information is outputted with a set of conclusions and follow on actions with owners – Key with any management information is the follow on action – taking our previous example of the worst performing supplier analysis – what is the next stage in this process? – The answer should be an action plan provided with the report –– an action list should include – the person who is carrying out the activity – the description o
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