Excerpt from my July column in MMR. Peter Drucker, a leader in the development of management education, promoted business value as the primary goal of a firm. Business value expands the concept of value beyond economic value (like profit) to include non-financial aspects of value like owner aspirations, employee talent, customer/supplier relationships, and process & data. Key Performance Indicators (KPIs) are the instruments business owners use to understand the organization’s overall financial health, a prerequisite for making better financial decisions. To read my July column in MMR, CLICK here.
Excerpt from my June column in MMR. Making financial decisions has never been easy for business owners. When given a choice, the tyranny of the urgent usually wins over the severity of the important. Imagine there are two problems you can attack. The first one involved a rental instrument being issued to the wrong student. You figure it will take about 45 minutes to straighten out the mess-annoying, but you can handle it. To read my June column in MMR, CLICK here.