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Digg it UP - Can Finance Really Become a Strategic Partner to the Business?
Ten Problem Solving Techniques
Do you ever need to find some good ideas, or come up with a solution for a persistent problem? Learn some simple problem solving techniques, and start applying them. Choose a few of the methods below, and get in the habit of using them in your personal life and your business.Problem Solving Techniques1. Clarify what a successful solution is, and that will guide your efforts. In fact, sometimes just clarifying the desired outcome will suggest immediate solutions.2. Get opinions and/or advice from several people. They might have good ideas, and you'll be sure you're not overlooking the obvious. Also, you clarify a problem when you explain it, and that may help in itself.3. Challenge assumptions. Are you trying to solve the wrong problem? Do you really need a vacation, or is your job the problem? Don't let your assumptions limit your possible solutions.4. Break it into parts, and solve the parts individually. Many problems are really a collection of smaller, easier-to-solve problems.5. Change perspectives. What would the problem look like if you were rich, poor, or from another planet. Einstein imagined riding on a beam of light, which lead to his theory of relativity, so this technique has been known to work.6.
ely to get nowhere while the issue persists. So if you are still looking for a silver bullet or quick fix to this seemingly incurable Do you ever need to find some good ideas, or come up with a solution for a persistent problem? Learn some simple problem solving techniques, and start applying them. Choose a few of the methods below, and get in the habit of using them in your personal life and your business.Problem Solving Techniques1. Clarify what a successful solution is, and that will guide your efforts. In fact, sometimes just clarifying the desired outcome will suggest immediate solutions.2. Get opinions and/or advice from several people. They might have good ideas, and you'll be sure you're not overlooking the obvious. Also, you clarify a problem when you explain it, and that may help in itself.3. Challenge assumptions. Are you trying to solve the wrong problem? Do you really need a vacation, or is your job the problem? Don't let your assumptions limit your possible solutions.4. Break it into parts, and solve the parts individually. Many problems are really a collection of smaller, easier-to-solve problems.5. Change perspectives. What would the problem look like if you were rich, poor, or from another planet. Einstein imagined riding on a beam of light, which lead to his theory of relativity, so this technique has been known to work.6.
Lean Manufacturing Principle
The following are the ten basic lean manufacturing principles of Kaizen in Gemba.Discard conventional rigid thinking about production: You must think outside of the box here. I know this is hard to do, but you must get your “come from” out of the picture, and look at it from some one else’s point of view. Think of how to do it, not why it can’t be done: This line of thinking is normally “we can’t because we have never done it that way”. Get rid of that. Do not make excuses. Start by questioning current practices: Again, you must look at new methods and ways to do things. Do not seek perfection. Do it right away even if for only 50% of target: This is basically for those of us that like everything figured out before we get started. This will not work. Because, I guarantee you will end up changing what you start off with, so you might as well get started. Correct mistakes at once: Get started right away, the correct as you go. Do not spend money for Kaizen: You are just changing procedures and habits. All of this is free. Wisdom is brought out when faced with hardship: This will come from others asking some tough questions, and requesting some tough answers. You may not have them, but yo
Much has been written about how finance organizations can become strategic partners with the businesses they support. While purported experts point to a variety of frameworks, scorecards and key performance indicators, etc. as the keys to bridging the gap between finance and business, these trite 'solutions' have done little to make finance the strategic business partner it seeks to be. Worse yet, pursuing these ideas has put finance organizations on a treadmill where they expend energy and resources (e.g., money and time) ultimately to get nowhere while the issue persists. So if you are still looking for a silver bullet or quick fix to this seemingly incurable The following are the ten basic lean manufacturing principles of Kaizen in Gemba.Discard conventional rigid thinking about production: You must think outside of the box here. I know this is hard to do, but you must get your “come from” out of the picture, and look at it from some one else’s point of view. Think of how to do it, not why it can’t be done: This line of thinking is normally “we can’t because we have never done it that way”. Get rid of that. Do not make excuses. Start by questioning current practices: Again, you must look at new methods and ways to do things. Do not seek perfection. Do it right away even if for only 50% of target: This is basically for those of us that like everything figured out before we get started. This will not work. Because, I guarantee you will end up changing what you start off with, so you might as well get started. Correct mistakes at once: Get started right away, the correct as you go. Do not spend money for Kaizen: You are just changing procedures and habits. All of this is free. Wisdom is brought out when faced with hardship: This will come from others asking some tough questions, and requesting some tough answers. You may not have them, but yo
Are You Spending Time On Things You Value?
Sorting through all the pieces of what goes into a life or career can seem rather daunting. You may feel that if you can put food on the table and keep a roof over your head, and maybe somehow find time to spend with your children, that’s about all you can reasonably do. Taking the time to think through your values – what you hold most dear in life – seems like a nice extra, but not at all critical. After all, don’t we all know what our values are anyway?Not really. One of the most important causes of career stress among people between the ages of 38 and 45 is precisely this issue: What they are doing all day every day has little or no relationship to their most deeply held values. On the other hand, for people in this age group, one of the most important elements in overall satisfaction, meaning and productivity is having a good match between your values and your career.How can you know what’s important to you? How can you know whether you are out of sync? Try this simple exercise: 1. Review this list of values: • Security • Monetary success • Family • Position • Wisdom • Health • Stability • Productivity and competence • Creative and artistic work • Spiritual fulfillment • Authority and d
experts point to a variety of frameworks, scorecards and key performance indicators, etc. as the keys to bridging the gap between finance and business, these trite 'solutions' have done little to make finance the strategic business partner it seeks to be. Worse yet, pursuing these ideas has put finance organizations on a treadmill where they expend energy and resources (e.g., money and time) ultimately to get nowhere while the issue persists. So if you are still looking for a silver bullet or quick fix to this seemingly incurable Sorting through all the pieces of what goes into a life or career can seem rather daunting. You may feel that if you can put food on the table and keep a roof over your head, and maybe somehow find time to spend with your children, that’s about all you can reasonably do. Taking the time to think through your values – what you hold most dear in life – seems like a nice extra, but not at all critical. After all, don’t we all know what our values are anyway?Not really. One of the most important causes of career stress among people between the ages of 38 and 45 is precisely this issue: What they are doing all day every day has little or no relationship to their most deeply held values. On the other hand, for people in this age group, one of the most important elements in overall satisfaction, meaning and productivity is having a good match between your values and your career.How can you know what’s important to you? How can you know whether you are out of sync? Try this simple exercise: 1. Review this list of values: • Security • Monetary success • Family • Position • Wisdom • Health • Stability • Productivity and competence • Creative and artistic work • Spiritual fulfillment • Authority and d
Pizza Hut is an American Success Story
It's an age-old American story. A business dream is born. A few dollars are borrowed. Years later, millionaires tell the tale of how they almost didn't take the big risk. So it goes for Pizza Hut.This worldwide pizza sensation began with what almost anyone would agree are quite humble roots and grew through dedication to become a powerhouse on the international business scene.The history of Pizza Hut is interesting, as well, and can serve as a great case study for anyone who thinks a little risk isn't worth the rewards it can bring. Read on!Pizza Hut got its start not in the lands of the Old World. It didn't even begin in the Italian section of New York City. It was founded, in fact, in 1958 by a pair of brothers from Wichita, Kansas. That's right, Wichita!After getting the idea from a family friend to open their own pizza shop, Frank and Dan Carney borrowed less than $1,000 from their mom to start the shop. With their nest egg, they bought used equipment, rented a building and went to work.What began in that small shop has since grown to include more than 10,000 shops worldwide in a pizza empire that spans more than 86 countries.Pizza Hut is now a portion of Tricon Global Restaurants and operates using franchises. Tricon al
nce and business, these trite 'solutions' have done little to make finance the strategic business partner it seeks to be. Worse yet, pursuing these ideas has put finance organizations on a treadmill where they expend energy and resources (e.g., money and time) ultimately to get nowhere while the issue persists. So if you are still looking for a silver bullet or quick fix to this seemingly incurable It's an age-old American story. A business dream is born. A few dollars are borrowed. Years later, millionaires tell the tale of how they almost didn't take the big risk. So it goes for Pizza Hut.This worldwide pizza sensation began with what almost anyone would agree are quite humble roots and grew through dedication to become a powerhouse on the international business scene.The history of Pizza Hut is interesting, as well, and can serve as a great case study for anyone who thinks a little risk isn't worth the rewards it can bring. Read on!Pizza Hut got its start not in the lands of the Old World. It didn't even begin in the Italian section of New York City. It was founded, in fact, in 1958 by a pair of brothers from Wichita, Kansas. That's right, Wichita!After getting the idea from a family friend to open their own pizza shop, Frank and Dan Carney borrowed less than $1,000 from their mom to start the shop. With their nest egg, they bought used equipment, rented a building and went to work.What began in that small shop has since grown to include more than 10,000 shops worldwide in a pizza empire that spans more than 86 countries.Pizza Hut is now a portion of Tricon Global Restaurants and operates using franchises. Tricon al
From Metropolis To Main Street, Light Pole Banners Enjoy Increasing Popularity As Outdoor Promotion
When Hershey Park, an amusement park in Hershey, Pennsylvania, planned the celebration of their 100-year anniversary, they chose light pole banners, as part of the marketing mix. The town-wide celebration will include a re-dedication of the park, 100 days of music, entertainment and fireworks and the unveiling of a new attraction, the Boardwalk at Hershey Park."Over seventy pole banners are prominently displayed in the parking lots and on the kiss-shaped light poles that line Chocolate Avenue, the main thoroughfare through the community," according to Don Rhoads, Print Buyer, Hershey Entertainment and Resorts Company. "We used two styles of banners: one style marks the 100-year anniversary of the Hershey's Kiss, and the other marks the 100-year anniversary of Hershey Park. This is the first time we have used pole banners along Chocolate Avenue, and we are quite pleased with the results."In St. Louis, the advertising agency of Maring | Weissman developed a campaign for the Gateway Arch. In a departure from the usual practice of multiple pole banners that are all identical, the banners in this campaign highlight the different activities available inside the Arch and at nearby Arch venues including the Historic Old Courthouse and River
ursuing these ideas has put finance organizations on a treadmill where they expend energy and resources (e.g., money and time) ultimately to get nowhere while the issue persists. So if you are still looking for a silver bullet or quick fix to this seemingly incurable When Hershey Park, an amusement park in Hershey, Pennsylvania, planned the celebration of their 100-year anniversary, they chose light pole banners, as part of the marketing mix. The town-wide celebration will include a re-dedication of the park, 100 days of music, entertainment and fireworks and the unveiling of a new attraction, the Boardwalk at Hershey Park."Over seventy pole banners are prominently displayed in the parking lots and on the kiss-shaped light poles that line Chocolate Avenue, the main thoroughfare through the community," according to Don Rhoads, Print Buyer, Hershey Entertainment and Resorts Company. "We used two styles of banners: one style marks the 100-year anniversary of the Hershey's Kiss, and the other marks the 100-year anniversary of Hershey Park. This is the first time we have used pole banners along Chocolate Avenue, and we are quite pleased with the results."In St. Louis, the advertising agency of Maring | Weissman developed a campaign for the Gateway Arch. In a departure from the usual practice of multiple pole banners that are all identical, the banners in this campaign highlight the different activities available inside the Arch and at nearby Arch venues including the Historic Old Courthouse and River
What Separates You & Your Services From the Rest of the Pack?
Let’s face it, as a self-employed professional (in any given field) you are not the only gig in town. Imagine for a moment that a prospective client of yours is frantically thumbing through the yellow pages (or surfing the Internet) searching for the exact service you provide—and she finds herself faced with literally dozens of options—what is it about the way you deliver your particular service that is going to convince her to hire you over another professional offering the same thing? What separates YOU from the rest of the pack? If you want to attract more clients and quickly double your current client base, you'll need to identify that "special something" you provide for your clients and be able to clearly communicate it in all of your marketing materials. Determine what makes you UNIQUE. It’s easier than you think! Begin by answering the following questions:What is the ONE THING that you do that others in your profession are NOT doing? What is it about your actual business that makes you different or unique in some way? What results can you promise your clients that others do not? When a prospect asks the question, “Why should I hire you, instead of so and so” how do you respond?If you’re r
ely to get nowhere while the issue persists. So if you are still looking for a silver bullet or quick fix to this seemingly incurable problem, stop reading now.Let’s face it, as a self-employed professional (in any given field) you are not the only gig in town. Imagine for a moment that a prospective client of yours is frantically thumbing through the yellow pages (or surfing the Internet) searching for the exact service you provide—and she finds herself faced with literally dozens of options—what is it about the way you deliver your particular service that is going to convince her to hire you over another professional offering the same thing? What separates YOU from the rest of the pack? If you want to attract more clients and quickly double your current client base, you'll need to identify that "special something" you provide for your clients and be able to clearly communicate it in all of your marketing materials. Determine what makes you UNIQUE. It’s easier than you think! Begin by answering the following questions:What is the ONE THING that you do that others in your profession are NOT doing? What is it about your actual business that makes you different or unique in some way? What results can you promise your clients that others do not? When a prospect asks the question, “Why should I hire you, instead of so and so” how do you respond?If you’re r
Given the time, money and effort spent, you may be a bit demoralized and even speculating that the finance-business chasm cannot be crossed. Paradoxically, the link between finance and the business has been under finance's proverbial nose for some time - resource allocation. A serious concerted effort to optimize an organization's resource allocation ultimately enables finance to develop the bridge between finance and strategy. This discipline known as corporate portfolio management works to active
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