Standard Management: Best Practices in Meticulous Management for First-Class Enterprises

Author: (English) Phelps
Publisher:
Publish Date: 2005-11-01
Features: When a company's stock price falls by 70%, the CEO still receives the full bonus. Why? Because the compensation committee said he had "achieved all his operational targets." So, were the operational targets set correctly? If you manage by the numbers, you must ensure they are the right numbers. Standard Management will:
Help you understand the key performance drivers of your business;
Tell you how to set appropriate goals and evaluation standards for your business;
Enable you to apply quantitative standards to the behavior of your managers, customers, and employees;
Enable you to make financial and operational decisions;
Provide you with tools to make strategic decisions based on factual analysis.
This book helps you understand how to analyze your company and determine appropriate goals through methods and case studies. It doesn’t present vague, empty concepts but rather a method of managing your business like engineering design—one that provides managers with a framework to guide them in the right direction and encourages collaboration between employees and managers.
These methods are based on facts: data analysis. However, they are both science and technology. They still require significant experience, intuition, and common sense. This book elaborates on the challenges of understanding key business drivers and how to design refined management standards around them. It will guide you through the process of standard development, showing you various problems and their solutions—some clear and straightforward, while others are disorganized and complex.