Management philosophy | Thinking Managers

Interesting I have to say… Use these tactic…

In the final analysis, management comes down to three simple words: REVENUES, COSTS, QUALITY. The purposes of any manager must surely include raising revenues, reducing costs per unit of output, and notably improving the quality of internal processes and external perceptions. Get these three right, and much else will fall neatly into place. The RCQ formula is essentially simple, but it does involve asking some penetrating questions and getting answers which imply and demand action. Try these Ten Key Questions yourself:

1. Do you have a business plan to raise revenues, reduce costs and improve quality? YES/NO If not, do you want one? YES/NO

2. Do you know why your customers choose to buy from you, rather than from anybody else? YES/NO. If not, would you like to? YES/NO

3. Do you know what percentage of the customers you had a year ago still buy from you today? YES/NO If not, would you like to? YES/NO

4. Do you have plans to enter new markets, either in new regions or new product lines? YES/NO If not, do you want to? YES/NO

5. Do you know whether your profit margins are rising, static or falling? YES/NO If yes, do you have plans to increase them? YES/NO

6. Do you know how your costs compare with best practice by competitors and others? YES/NO If not, would you like to? YES/NO

7. Do you know which 20% of activities account for 80% of your direct costs? YES/NO If yes, do you concentrate on making them lower? YES/NO

8. Do you know how many of your customers regard your goods and/or services as good or excellent? YES/NO If not, would you like to? YES/NO

9. Do you know which of your critical processes could be speeded up and made more cost-effective? YES/NO If not, would you like to? YES/NO

10. Do you plan to introduce new or radically improved goods/services over the next year? YES/NO If not, do you want to? YES/NO

More at Management philosophy | Pareto’s Law & KISS | Thinking Managers.

About Kelly Business Advisors, LLC

Early in his career John started-up and sold 7 years later a Moving and Storage Company in Milwaukee. He acquired and was President of Kelly Pickle Company f/k/a Bond Pickle Company, in Oconto, WI for 12 years. Built a monthly round-table networking group of manufactures in Oconto. Developed marketing plans, sales plans, products and implemented lean manufacturing practices with many North American companies. Worked with non-profits as both a front line leader and behind the scenes. He is active in his church, a member of the Green Bay Chamber of Commerce,Business Networkers International (BNI) and now is joining the Green Bay Downtown Rotary.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s