Business management tools
Business management tools. As a resource partner of the U.S. Small Business Administration, SCORE – which offers free business mentoring and education — notes the organization has helped more than 11 million entrepreneurs through mentoring, workshops and educational resources since 1964. The nonprofit SCORE was previously known as the Service Corps of Retired Executives.
If I could share only one “Business Management” book with another business owner, it would be “The Goal” written by Eliyahu Goldratt in the 1980s. The book introduced the Theory of Constraints. Put another way, what in the operation of the company is interrupting the smooth flow end-to-end of your operation.
“The Goal” is a useful introduction to Process Management. It is a story of a newly appointed plant manager who has 90 days to turn his plant around. He seeks out a friend for mentoring who is experienced in management.
His mentor suggested he look at his plant from end-to-end as a straight road. Raw materials come in and flow to finished goods loaded and ready to ship.
What are the bottlenecks that keep that from happening? Companies design their process, literally draw a flowchart, showing the relationship of each department and how they affect each other. It may be an entrepreneur just starting up or an established business with employees.
Process management is a program that includes all levels of employees, but focuses more on the management team. The workflow of the company is mapped out from end to end. The goal is to develop a culture of constant improvement toward achieving the strategic plan of the organization.
Laying out the Process takes work, but it’s worth the effort. It is a team effort where all participants contribute and understand the final flow chart in its totality. Here are two success stories I enjoyed and practiced in my career. When Admiral Rickover built the first Polaris submarine, he developed the Critical Path method.
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