Are you a Data Hoarder, or a Data User?
Just as there’s gold in them thar hills, there’s insight hidden in that data, insight that can make a difference, and there are some pretty straightforward applications that can have quite an immediate impact.
The emergence of the Software as a Service (SaaS) model has necessitated new relationships between the service provider and the consumer with respect to service availability, service performance and response times. The Service Level Agreement (SLA) has evolved to become a useful tool which governs both service expectations and the consequences of failure to meet
these agreed upon metrics.
Budgeting is nearly always portrayed as a management process that helps an organisation to execute strategy. Fine words indeed, but how many budgets and associated budget processes actually support that ideal? Surveys reveal the reality that most budgets are totally disconnected from strategy and that the resources essential to success are often missing or unavailable. …
Everyone has different attitudes to risk. Our individual judgments, interpretations and preferences influence the way we approach risky decisions. Sometimes, we can weigh the odds in a fairly rational, mathematical way. But when chief executive officers (CEOs) take big decisions such as acquiring another firm, it is very hard for them to know in advance how likely different outcomes are. Risk taking is not so much an economic calculus as an interpretive act.
?Only 5% of respondentssay their Finance organization is delivering Game Changing Value today? What’s that about?? Find out.
Many who just read “managerial accounting” in this blog’s title are not bothering to read this. Why? They do not care. They only care about external financial reporting for regulatory agencies, bankers, and investors. This frustrates me because I interpret this as their not caring about managers and employees who need better internal managerial accounting information for insights and foresight to make better decisions compared to what they are currently provided by their CFO’s function.
Mobile devices have become incredibly popular in the consumer and enterprise worlds, as more businesses begin to see the benefits of cultivating a strong bring your own device (BYOD) policy. Several reports have revealed that corporate expenditures, both capital and operational, can be reduced by allowing employees to bring in their own technology.
However, security remains a major question among those with executive jobs, as unsecured devices can spell disaster by way of data breach and loss of corporate information. It is the responsibility of a business’ decision-makers to ensure the integrity of all information technology (IT) operations, which can be mitigated through IT departments.
Since 2008, the global business community has operated under extraordinary circumstances. After years of crises, extreme volatility and unforeseen events, the extraordinary is now the ordinary and the previously unthinkable is a reality. Companies that once prepared detailed, long-range plans—with budgets based on a stable view of the future—now operate in an environment that presents new and unforeseen challenges every day, week and month.
What are the critical issues leading to more uncertainty?
“This course made me realize that there are two ways to view myself and my life: From the outside looking in (how others see me), and from the inside looking out (how I see myself). Now that I’m aware of these two perspectives, I think about everything differently.”
What discipline solicited such a thoughtful, life-changing reaction from an undergraduate?
Psychology? Religion? Philosophy?
None of the above. It was managerial accounting.
The value of most organizations today is less determined by their physical assets than their intellectual assets. Intellectual property such as patents, technologies, ideas and designs are what keep leading companies like Bose, 3M, Medtronic and Boeing ahead of their competition. A big challenge for many organizations is to document and pass on important knowledge to others in their organization so that they can benefit from the discoveries of others. According to the American Productivity and Quality Center (APQC), knowledge management (KM) is defined as: “a systematic process of connecting people to people and people to knowledge and information they need to effectively act and create new knowledge.”