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SCRUM – a lean practice worth adopting

This is a technique that was developed to radically reduce the time it took to write new software applications.  It recognized that teams in very intense work periods do not always function properly.

Scrum (an Agile technique) – started off as a rethink of project management by Jeff Sutherland,  a fighter pilot in Vietnam.  He saw […]

By |September 17th, 2013|0 Comments

Toyota’s 14 principles and their relevance to lean

I believe Toyota to be possibly the greatest company in the world. It has 14 principles which are the backbone to its culture and Toyota can embed these principles in all countries it operates within.  Its Kentucky plant in the USA exceeded all Toyota expectations with its acceptance of the Toyota way.  To understand the […]

By |September 15th, 2013|0 Comments

Performance bonuses- the foundations stones part 3

PBSs should be ‘road tested’ on the last complete business cycle
When you think you have a good scheme test it on the results of the last full business cycle, the period between the last two recessions.  View the extent of the bonus on the net profit.

You need to appraise the PBS as you would a […]

By |November 27th, 2012|0 Comments

Performance bonuses- the foundations stones part 1

(extract from “The leading-edge Manager’s guide to success – strategies and better practices”.  The book is available Amazon, see link on www.davidparmenter.com

 By David Parmenter

 Performance bonuses give away billions of dollars each year based on methodologies where little thought has been applied.  Who are the performance bonus experts? What qualifications do they possess to work […]

By |November 3rd, 2012|0 Comments

How to market the finance department …and yourself

Those in the finance function may not be natural marketers of their own value to the organisation. But they can – and should – learn, as David Parmenter explains*.

David Parmenter is an international presenter and writer.  parmenter@waymark.co.nz

* This article is an extract from Winning CFOs: Implementing and Applying Better Practices published by John Wiley & […]

By |November 3rd, 2012|0 Comments

Adapting and applying the balanced scorecard model in the contemporary business environment

The balanced scorecard (BSC) was one of the major breakthroughs in the nineties.  The groundbreaking work of Kaplan and Norton brought to management’s attention the fact that strategy had to be balanced, needed to be implemented and performance should be measured using a more holistic approach.

Unfortunately many performance-related initiatives have failed and the BSC has […]

By |November 3rd, 2012|0 Comments

A table without any legs – a critique of the balanced scorecard methodology

An extract from my “Implementing Winning KPIs whitepaper” which can be acquired from http://davidparmenter.com/how-to-guides)

Nobody has done more than Kaplan & Norton (K&N) to ensure that strategy is balanced, well thought through and is implementation is monitored and managed.

The Harvard business school paper was a master piece and the follow on book “Translating strategy into action […]

By |October 22nd, 2012|0 Comments

Try a lot and keep what works

Drucker saw innovation as being one of the reasons for an organization to be in existence. He saw innovation being fed by his principle of abandonment. The freeing of resources to be allocated to something new.

Drucker was adamant that leaders nurture innovation and not try and force it through to production without adequate testing. His […]

By |October 6th, 2012|0 Comments

Leaders Need to be Constantly Reinventing Themselves

Great leaders have a thirst for knowledge and constantly are looking at ways to move their learning on, constantly reinventing themselves. Management professor Nancy P. Rothbard, from University of Pennsylvania agrees that Welch’s ability to reinvent himself and the company was pivotal to his success. “He pursued not just one major initiative while he headed […]

By |October 6th, 2012|0 Comments

Jim Collin’s innovation blueprint

Jim Collins has created a blue print for evolutionary progress based on analysing 3M. These five steps are:

Give it a try and make it quick- When in doubt, vary, change, solve the problem, cease the opportunity, experiment, try something new even if you can’t predict precisely how things will turn out. No matter what don’t […]

By |October 6th, 2012|0 Comments