Baring the Books, Part One
Advocates of open-book management say that wealth can be created for customers, employees and shareholders by teaching everyone to understand, track and take responsibility for financials. The process has, in fact, been the salvation of some organizations. But such openness goes against the grain of traditional corporate cultures and the implementation involves major challenges – especially for big companies.
Content: Article | Author: Ivy McLemore | Source: Business Finance Magazine | Subject: Management
Building Business Decision-Makers
For open-book management to succeed, companies need to harness the ideas and abilities of all employees. Here’s how three complementary disciplines, the “I-Power Program,” the “Breakthrough Process” and the “Collaborative Way,” can create a culture that maximizes employee contribution.
Content: Article | Author: Ivy McLemore | Source: Business Finance Magazine | Subject: Management
Putting the Scorecard to Work, Part One
Combining financial and nonfinancial measures to get a true picture of business performance requires an understanding of how four basic perspectives of the Balanced Scorecard click.
Content: Article | Author: Ivy McLemore | Source: Business Finance Magazine | Subjects: Management, Strategy
Putting the Scorecard to Work, Part Two
The Balanced Scorecard has helped Boeing, Sears and other companies achieve radical improvements in their management systems’ performance. The key to capitalizing on this tool is customizing it for your company’s needs.
Content: Article | Author: Ivy McLemore | Source: Business Finance Magazine | Subjects: Management, Strategy
Making the Metric Work
CEOs increasingly look to financial managers to implement Economic Value Added (EVA) to increase shareholder value. EVA can be challenging to implement, but far from impossible – as long as executive compensation is tied in.
Content: Article | Author: Ivy McLemore | Source: Business Finance Magazine | Subjects: Finance, Management
Managing Complexity
Hundreds of major corporations are implementing a Balanced Scorecard in their quest to increase shareholder value. But success is in the details.
Content: Article | Author: Ivy McLemore | Source: Business Finance Magazine | Subject: Management