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Add You - Malcolm Baldrige Values and Concepts Part 10 – Focus on Results and Creating Value
When you need to prepare for a job interview, there are some basic precautions such as arriving 10-20 minutes early, dressing in formal attire, and observing all the rules of workplace etiquette, propriety, and politeness inherent to a working environment.There are also questions that you can expect to be asked. For instance, when I went for my first job interview, they asked me the following questions:What expectations do you have about working here? What is your favorite movie? Why? How would you describe it? What are some of your hobbies and interests? Describe yourself.
Stockholders needs are traditional very strong in the philosophy of these companies. It is not the case where leaders of these companies does not appreciate the needs of other stak
It certainly could not be more obvious the incestuous relationship between big business and government than when the FTC made a special exemption of the Franchise Law for Large Corporate Franchisors. There is practically no fraud at all to be heard of in the franchising industry. Now there is quite a bit in the business opportunities sector, but in franchising there is very little something like 0.1%.That goes for both large franchisors and small franchisors. Unfortunately the Federal Trade Commission has decided to exempt corporate franchisors who sell franchise outlets that cost over $1 mil
To recap, below are the Eleven Core Values and Concepts of Baldrige Criteria:-
Visionary Leadership | Customer-Driven Excellence | Organizational and Personal Learning | Valuing Employees and Partners | Agility | Focus on the Future | Managing for Innovation | Management by Fact | Public Responsibility and Citizenship | Focus on Results and Creating Value | Systems Perspective
I will deal with the one of the Value in bold letters in this article as below:-
Articulated Focus on Results and Creating Value
An organization’s performance expectations need to focus on key business and operational results. These results should be used to create and balance value for your key stakeholders: -
- Customers
- employees
- stockholders
- suppliers and partners
- the public and community
By creating value for your key stakeholders, your organization builds loyalty and contributes to growing the economy. To meet the sometimes conflicting and changing aims that balancing value implies organizational strategy should explicitly include key stakeholder requirements.
This will help ensure that plans and actions meet different stakeholders’ needs and to avoid adverse impacts on any stakeholders. The use of a balanced of lead and lag indicators offers an effective means to communicate short- and longer-term priorities, monitoring of actual performance, and provide a clear basis for improving results.
Case Study on Focus on Results and Creating Value
It was a very strong focus on creating results in all the companies I worked with. Although there is some differing of stakeholders needs, it seldom put enough emphasis on other stakeholders except for the stockholders, customers, employees, partners and community. Incidentally the lists are ranked based on its priorities.
Stockholders needs are traditional very strong in the philosophy of these companies. It is not the case where leaders of these companies does not appreciate the needs of other stake
If you are going to take up a career of a professional designer, you must know some important facts about this profession. The positive thing of this profession is that it gives you challenges, gives you possibilities to create and get satisfaction from fulfilled the task seeing the results of your work. However, design industry is growing in great paces worldwide. Competition is number one in this sphere and you are to be the best to become successful and get the job. Besides, the advertisement influences our lives greatly. Another fact is that a designer can use it in an ethical way or visa versa. I
Visionary Leadership | Customer-Driven Excellence | Organizational and Personal Learning | Valuing Employees and Partners | Agility | Focus on the Future | Managing for Innovation | Management by Fact | Public Responsibility and Citizenship | Focus on Results and Creating Value | Systems Perspective
I will deal with the one of the Value in bold letters in this article as below:-
Articulated Focus on Results and Creating Value
An organization’s performance expectations need to focus on key business and operational results. These results should be used to create and balance value for your key stakeholders: -
- Customers
- employees
- stockholders
- suppliers and partners
- the public and community
By creating value for your key stakeholders, your organization builds loyalty and contributes to growing the economy. To meet the sometimes conflicting and changing aims that balancing value implies organizational strategy should explicitly include key stakeholder requirements.
This will help ensure that plans and actions meet different stakeholders’ needs and to avoid adverse impacts on any stakeholders. The use of a balanced of lead and lag indicators offers an effective means to communicate short- and longer-term priorities, monitoring of actual performance, and provide a clear basis for improving results.
Case Study on Focus on Results and Creating Value
It was a very strong focus on creating results in all the companies I worked with. Although there is some differing of stakeholders needs, it seldom put enough emphasis on other stakeholders except for the stockholders, customers, employees, partners and community. Incidentally the lists are ranked based on its priorities.
Stockholders needs are traditional very strong in the philosophy of these companies. It is not the case where leaders of these companies does not appreciate the needs of other stak
In today's busy world, many people have difficulty managing their time and getting everything done. Some people are very busy, but they never manage to achieve the things they really want. Others never get anything done.Some people are late for everything in their lives and don't know why. Have you ever noticed that people who are late are always late – there is a pattern. The same is true for punctual people – they are nearly always punctual – they too have a patternThere are some basic steps that people can take to improve their chances of getting done what they want and need to get do
- Customers
- employees
- stockholders
- suppliers and partners
- the public and community
By creating value for your key stakeholders, your organization builds loyalty and contributes to growing the economy. To meet the sometimes conflicting and changing aims that balancing value implies organizational strategy should explicitly include key stakeholder requirements.
This will help ensure that plans and actions meet different stakeholders’ needs and to avoid adverse impacts on any stakeholders. The use of a balanced of lead and lag indicators offers an effective means to communicate short- and longer-term priorities, monitoring of actual performance, and provide a clear basis for improving results.
Case Study on Focus on Results and Creating Value
It was a very strong focus on creating results in all the companies I worked with. Although there is some differing of stakeholders needs, it seldom put enough emphasis on other stakeholders except for the stockholders, customers, employees, partners and community. Incidentally the lists are ranked based on its priorities.
Stockholders needs are traditional very strong in the philosophy of these companies. It is not the case where leaders of these companies does not appreciate the needs of other stak
You’ve done it! A brand new product idea. Or, perhaps, a new service, based on a need you’ve spotted which no one else seems to have noticed. Possibly even a unique and different way to accomplish an older idea. You can see it’s effects, know that it’s a multimillion dollar market winner, in the vanguard of that industry, international in scope. You’re energized, excited, enthusiastic.So what?Yes, dear reader, I said “So what?”I’m not trying to bring you down. But you’ve probably heard the old saying that “great ideas are a dime a dozen.” Unfortunately, that’s all too true.
This will help ensure that plans and actions meet different stakeholders’ needs and to avoid adverse impacts on any stakeholders. The use of a balanced of lead and lag indicators offers an effective means to communicate short- and longer-term priorities, monitoring of actual performance, and provide a clear basis for improving results.
Case Study on Focus on Results and Creating Value
It was a very strong focus on creating results in all the companies I worked with. Although there is some differing of stakeholders needs, it seldom put enough emphasis on other stakeholders except for the stockholders, customers, employees, partners and community. Incidentally the lists are ranked based on its priorities.
Stockholders needs are traditional very strong in the philosophy of these companies. It is not the case where leaders of these companies does not appreciate the needs of other stak
Most people are well aware of those businesses in the United States of America who routinely hire illegal aliens and illegal immigrants who have snuck over the US-Mexican border and come to our great nation illegally. In fact most people can rattle off 5 or 6 industries where illegal aliens typically work and most US citizens are well aware of why these employers are hiring them and about the average wage these people work for.Most Americans realize that the business owners exploit and degrade these people to attain higher profits for themselves and do so knowing that they are hiring illegal al
Stockholders needs are traditional very strong in the philosophy of these companies. It is not the case where leaders of these companies does not appreciate the needs of other stakeholder, it is a case where they cannot meet all these needs consistently hence the ranking of priorities. Unfortunately, the priorities became a norm after some times of non fulfillment.
Companies still very much chase after the finance number at best the market sakes numbers. Not many chase after productivity numbers hence the operations.
Opportunity for Improvement
Based on Dr. Kaplan’s balanced Scorecard concept, the financial results are the consequence of the focus given to the customer, the operation excel into satisfying these customers, the competency of the human resource that perform these operations etc.
If this balanced scorecard concept is fully appreciated, leaders should realign the business into meeting the stakeholders need i.e. Financial aspect by way of gear up the human resource capabilities and process capabilities to satisfy the customers such that they remain with the companies. Consequently, financial result should be the expected outcome.
In summary, having understood the Focus on Results and Creating Value in Values and Concepts of Malcolm Baldrige, it should be taken as a strategic issue rather than operational. Most companies have in placed a Marketing Strategy, some would have Operational Strategy, would you want to consider having HR Strategy too? Leaders might benchmark their CEO of Baldrige Winners on their TQM successes in this value. My next article will articulate the next Core Values and Concepts in System Perspective
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Disclaimer: This article is written by the author based on his practical application experience. All definitions and interpretation of terminology are his point of view and has it has no intention to conflict with experts in similar topic. The author holds no responsibility for the use of this article in any way.
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