Feedback loops exist in business, just like they exist in sports and in martial arts. Some are much more effective than others. A good question to ask from a business perspective is: Am I getting the right feedback at the right time to allow for countermeasures when an initiative drifts off course? It’s an important consideration, since they often do. …
BY CHRIS JEPSEN
If your consulting partner or internal change agent is about to run a brainstorming session in the hope of generating an innovative solution to a long-standing business problem, let me stop you now. I will save you 2 points on the bottom line and put some time back in your diary. Modern innovation is neither the result of trial-and-error, nor is it …
Will your improvement efforts impact the bottom line? Do you know where specifically on the P&L you’ll see the change, and to what extent? These are very straightforward questions and yet I’m willing to wager that most Australian executives don’t have the answers. If you don’t know how the project you’re sponsoring is going to affect the financials, then why …
