Firms need to focus on maximizing value in their supply chain—a series of interrelated activities to move a product or service from its originating point to the customer or client. It is the linkages involved in delivering a product or service most productively for the customer and the business. It is vital to operations management and crucial to deliver consistent, high-quality products on-time to customers, and to create value for the business.
Published Vision Statements Are Helpful But Not Necessary
Sometimes young entrepreneurs ask me to help write their vision statements. They believe a written vision statement is essential. I assure them the crucial issue isn’t the written vision statement, but their ability to articulate their vision to those who will join their firms and others. To be sure, writing the vision provides clarity, but […]
Maximizing Shareholder Value Works When CEOs Focus On Enterprise Value Not Bonuses
T he Business Round Table (BRT) had an aha moment and decided maximizing shareholder value is not a corporation’s sole purpose. That metrics from the 1980s is wrong, it said. The BRT is late getting to this undeniable conclusion. It is indisputable that this profit focus fed CEOs’ greed nature and primed the Great Recession. CEOs […]
Evangelical Before Donald Trump Not Anymore I am Ashamed
I identified as evangelical before Donald Trump’s presidency. Now, I cling to my Christian faith, but dropped the evangelical label; I am ashamed. American evangelicals defy biblical tenets to support Trump’s vile, rude, and crude conduct. He gave them pro-life laws and moderate judges, both vital to their cause. So, they say the ends justify the […]
Facebook’s $5 Billion Fine Encourages Executive Misdeeds
Facebook’s $5 billion fine by the Federal Trade Commission (FTC) for serial privacy abuses doesn’t go far enough. After the market received news of the fine, Facebook’s market value spiked $10 billion, and Chief Executive Officer (CEO) Mark Zuckerberg’s net worth rose $1 billion. Facebook’s leaders rejoiced. Why not? Facebook did not agree to wrongdoing, and the […]
6 Ingredients For Meaningful And Productive Meetings
Meaningful meetings are possible, desirable, and should be the aim of every executive. Many people say meaningful meetings is an oxymoron, and they have a point. Multiple research shows that most meetings waste time and cost significant sums. Some studies show over 75% of meetings waste time. Get a Klu, a corporate coaching and training consulting firm found that […]
Politicians Vying For Credit For Booming USA Economy
Politicians are vying for credit for the genesis of the growing economy (USA). Today, what matters most is that we sustain the economic and job gains. Thus, the government must not meddle with tariffs, tax hikes, and useless rules. Like it or not, lower corporate taxes are good for companies, the economy, and job creation. The converse is […]
Senator Elizabeth Warren Plans To Rein In Big Businesses And CEOs
Senator Warren plans to stifle the influence of big businesses and several CEOs. The Senator is not a fan of Wall Street or large corporations and their CEOs. Many folks agree with her. They see many CEOs collect huge bonuses while their decisions hurt consumers and other stakeholders. To fix these problems, Senator Warren introduced bills […]
Empower Frontline Workers Eliminate Silos Create Stakeholder Value
frontline workers can get rid of silos, but leaders must empower them. Trained and empowered workers create value and work well outside silos. Still, firms design payment and benefits plans that favor silos. They create narrow goals which breed inward focus and birth silos. Reward systems can be silo-generating, too. Leaders get stock options based […]
Strategy Choices and Long Term Plans
Ask ten business people what strategy is, and most will offer the same answer: a long-term plan. My undergraduate students produce a similar reply on the first day of my strategic management class. Besides, many folks use the word to inflate their activities’ importance. One business executive bragged, “I am excited because after one year we […]