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17 August 2013 - 22:33, by , in People Issues, No comments
“Executives in profitable companies couldn’t tell us how they made money, and executives in unprofitable companies could.” (1) This quote comes from a newly published study by the Accenture Institute for Strategic Change. Researchers found that most executives of profitable non-dot.com companies knew their strategic plan but had no understanding of their business model. Conversely, most...
16 August 2013 - 23:04, by , in Performance Management, No comments
Do you have a one-on-one accountability partner in your personal and professional life? If not, it’s likely due to one of five reasons: You didn’t realize the importance of having an accountability partner; You don’t want to be held accountable; You don’t know who to ask to be your accountability partner; You don’t know what...
16 August 2013 - 23:04, by , in Activity-Based Cost Management, No comments
“If I had six days to chop down a tree, I would spend five days sharpening my ax.” President Lincoln’s advice is sound for any manager considering a cost cutting iniative. With the economy softening, it is prudent for managers to prepare a contingency cost reduction plan. Cutting cost, however, with a “dull ax” makes...
I have been called many names during my life. I was called “Beancounter” at Johnson & Johnson because of my pursuit of accounting preciseness. Later in my career, a Motorola VP of Manufacturing nicknamed me “Herbie”, one of the characters in the popular book THE GOAL. The VP was accusing me and the cost system as...
16 August 2013 - 23:01, by , in Activity-Based Cost Management, No comments
Are you getting married? Married to an ABM consultant, coach, trainer or software vendor. If so, don’t tie the knot based solely on their sales pitch or advertisement. Barry Cameron, my pastor, recommends five pre-marital common sense tests before the marriage contract is consummated: Drive with your fiancee in heavy traffic.How do they react? Cool...
16 August 2013 - 23:00, by , in Activity-Based Cost Management, No comments
Why should I improve my cost system? “Why did it take eight consultants to help the old man across the street? Answer: Because he did not want to go across the street.” You cannot successfully force a new cost system on your organization. Your management and employees must “want and need” improved cost information. You...
16 August 2013 - 23:00, by , in Activity-Based Cost Management, No comments
Too many ABM Pilot Projects are like the old TV series The Love Boat. Everyone is excited with anticipation before the Pilot Project launch. During the 90-day Pilot “cruise”, everyone seems to have a valuable and enjoyable experience. But, after the Pilot Project Final Report, people return to their same old attitudes, practices and pre-ABM...
16 August 2013 - 22:59, by , in Activity-Based Cost Management, No comments
“I don’t have enough time!”…
Have you ever said this to yourself? This statement is an example of a self-defeating belief. Self-defeating beliefs such as “I’m not good enough” or “I’ll never lose weight” get in the way of your success and happiness. Negative thoughts lead to negative actions. For example, telling yourself, “I don’t have...
16 August 2013 - 22:58, by , in Activity-Based Cost Management, No comments
Five frogs are sitting on a log. Four decide to jump off. 
 Question:  How many are left?
Answer:  Five.  (Because there is a difference between deciding and doing.) There are a lot more people “deciding” to implement Activity Based Management (ABM) than there are people actually “doing” ABM. A January 1999 survey of people who attended 1998 American Management...
16 August 2013 - 22:58, by , in Activity-Based Cost Management, No comments
My wife, daughter and mother-in-law love to put together jigsaw puzzles.  Working together, they can assemble a 1,000-piece puzzle on the kitchen table in just a few hours. When I asked them how they do it so quickly, they responded “It’s easy. We just put together the pieces to match the picture on the box.”  In...
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