Are You Managing Your “Lines” of Business?

A common problem in small to medium size businesses is realizing that the business is really two or more lines of business. This condition is exacerbated by the tendency to view financial reports as a necessary evil in order to meet tax obligations and not as a tool to manage the business. As a result, […]

Management Dashboard: Is it of Value?

A management dashboard informs executive management on the state of the business and, when necessary, report alerts on key production, sales, quality, revenue or profit performance so that timely and accurate decisions can be made in running the business.  This type of management tool is fundamental to the running of any high performing business. Surprisingly, […]

Communicating Strategy with the Balanced Scorecard

Summary: Important Role of the Balanced Scorecard Useful as a tool to communicate strategy of the company and for the employees to understand critical objectives. Gives a certain clarity to the strategy that did not exist before. Communicating strategy to employees CEO dropping by employees desk, put the strategy map in fron of the employee and asked them three […]

What Is A Business Model?

Summary: What is a “Business Model?” Not MBA Jargon. A prototype of a venture. Meaningless management speak. Corporate fashionista. Business Model A way to understand organizations. As systems. That have common components. To understand an organization’s business model – think about What value it creates? Who it serves? What sets it apart? What resources it depends […]

Financial Reporting: What is Your Message?

Accounting reports record the financial performance (Profit/Loss) and standing (Balance Sheet) of the company. They provide information to those interested in the financial score of the company and are used, if designed properly, to serve the interests of various audiences. In order to effectively address the questions of each audience you need to understand their […]