Hope and Fraser correctly illustrate how, in extreme cases, use of the budget to force performance improvements can lead to a breakdown in corporate ethics. People, who worked at WorldCom, now bankrupt and under criminal investigation, said CEO Bernard Ebbers’s rigid demands were an (more…)

When implementing a continuous cost-reduction program, top management identifies and empowers champions. These share one quality: they are employees who enjoy focusing on the cost side of the business. Here, top managers work from a premise that is obvious to controllers through (more…)

Certainly, all controllers support the elimination of waste and the implementation of best practices. Key point: When these measures are in place, employees are bet-ter able to use their natural problem-solving (more…)

If we have writing skill may be we can get easier job than ordinary people. We can found the real evidence like journalist especially for newspaper. May be we already know some (more…)

Controllers often say the biggest problem that continuous cost-reduction programs face is funding. This is because many of the most promising initiatives that emerge from team (more…)

Hope and Fraser correctly point out that, in the absence of budgets, alternative goals and measures—some financial (such as cost-to-income ratios) and some non financial (such as time to market)—move to the foreground. Under this setup, business units and personnel, now responsible for (more…)

Should budgeting, as most companies practice it, be abolished? In effect, should the old-fashioned, slow-to-respond, fixed-performance contract be replaced by a more flexible form of budgeting (along with other types of goals and measures) that tracks the performance (more…)

Top management communicates the strategy. Teams working for cost-reduction champions then identify targets that are consistent with the strategy. What remains? At this point, execution becomes the priority.

Successful programs of continuous (more…)

Today I hear my friend’s father must stay in the hospital because got heart attack in the morning. She looked so sad when I asked permission to go to the hospital. Finally (more…)

When people turn to the Yellow Pages in their telephone directory, they are usually ready to buy and they are looking for a supplier. They do not have to be persuaded to buy, they merely have to (more…)