"There is more to life than increasing its speed."Mohandas Gandhi
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5 Mistakes People Make When Selling Structured Settlements
5 Mistakes People Make When Selling Structured Settlements structured settlements, lottery winnings, annuities Mistake One: Agreeing to sell to the highest bidder. Unfortunately, some brokers or structured settlement/annuity sources will make a high ...
Student Loans Can't Be Swept Away Through Bankruptcy
Bankruptcy is in the news these days, as Congress has finally overhauled the Federal bankruptcy law after years of talking about it. The credit card companies, rightly or wrongly, have been pressuring members of Congress to tighten the bankruptcy ...
Understanding Structured Settlements and their Advantages
Put in simple terms, a structured settlement is merely an agreement that's reached between a plaintiff and defendant that outlines the flow of payment that the plaintiff receives, due to injury. These payments – which are made over a specified ...
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If you can't measure it, you can't manage it. Companies may be able to survive for a while if managers aren't using data to make decisions, but they will eventually see their demise; likely sooner than later. Those companies to benchmark off are the ones who are not only surviving, but thriving! Pick your favorite phrase: TQM, Process Management, Quality Circles, Improvement Teams, Standards and Measurement departments or any other title you prefer. The function is the same. Look at baseline data – percentages, dollars, hours, quantities – and continuously monitor the performance.
There should not be any task that a supervisor or staff members perform that cannot be measured. If you can't measure it, you can't manage it. Take a fast food restaurant for example. There are a plethora of areas that can be measured such as days without an accident, customer wait time in line, length of time burgers are in the warmer, amount of money off in the drawers, customer complaints, etc. Graph it out and keep a spread sheet of your figures. Clearly you're looking for improvement. If there was a decline, brainstorm, find the root cause and then fix the problem.
The process is the same no matter what industry you're managing. Whether you manufacture widgets, if you are the CEO of an internet marketing firm or if you sell cookies, take a look at all the steps involved in day to day operations. Assign values to the process. Set goals. Review the results on a daily, weekly or monthly basis. Remember, if you can't measure it, you can't mange it. Charts and graphs are an excellent tool to visually remind you of where you have been and where you plan to go.
In the midst of measuring your subordinates' performance, don't neglect to measure and manage your own operations. Don't think for a minute that your boss isn't looking at your performance. And if you're the top dog, you had better be managing yourself well, or you will never succeed at managing others
About the Author
James Louis writes about things that impact our society. His years of experience in finance prompts him to write about and share his insights about different aspects of the financial world. One of those insightful subjects is Structured Settlements. For more information visit his Structured Settlement site.
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Hennepin County judge: Texas firm must provide recordsMinneapolis Star TribuneHennepin County District judge found "reasonable grounds to believe" company that bought structured settlements violated law. A Hennepin County District judge has ordered a Texas company to comply with an investigation by the Minnesota attorney ...and more » |
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