Sunday, February 15, 2009

The Business Lesson: A Dollar Saved is Equivalent to a Dollar Earned

  1. Develop simple, visible systems that encourage participation and understanding by everyone and that support initiative taking.
  2. Train and coach associates on “exactly what it means to ‘use’ your best judgment.” The absence of meaningless rules shifts the employee’s focus on innovation to what the company wishes it would be: in the pursuit of serving the customer better, rather than in pursuit of evasion of the rules.
  3. Develop a practical agenda, were Managers model non-bureaucratic behavior and stop treating people with contempt.
  4. Benchmark and measure what is important to the business.
Source: Thriving on Chaos, Handbook for a Management Revolution, Tom Peters