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Flashcards in Session 1 Deck (7)
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1

SMART

specific --> project definition
Measurable --> project control
Attainable/Assignable
--> assigning responsibility
Realist --> budget
Time-Related --> planning

2

most important for a company

Impact on Cash Flow
Added SH Value
adding Customer Value is important but everything is centred in generating max. profit for SH

3

Main Ideas when implementing new project or idea

1. It´s not easy
2. It´s easier to stay the same
3. Detrector always appear
4. It´s not fast (takes time and patient)
5. It is efficient on the LT
6. It´s fulminating - sustainable after idea is adopted

4

Tricks

tell yourself many times - you end convincing yourself
lie is told enough times --> becomes part of your REALITY
enough people --> part of CULTURE
culture passed misinformation along generations --> become TRADITION

5

Productivity Paradox

IT supports human/business activity but it doesn´t add value by itself alone
apparent contradiction between advances in compute power & relatively slow growth of productivity many levels

6

Valuation of Ideas

when considering value creating you need to take both tangible & intangible objectives
E.x Air in a house; time is more value sometimes than money

7

Key Elements to Succeed....
O. Function

central for every organisation (no matter which type)
creates &delivers (S&P) - which is the reasons for firm to exists (connects all departments)
If not able to sell products (add value) risk of disappearing
efficient transformation needed before selling to market
all business (no matter fin/nonfinancial) or aim (service, reputation) they need effective OM to achieve their Aim