Sunday, July 28, 2019

Business Statistics writing assignment Essay Example | Topics and Well Written Essays - 750 words

Business Statistics writing assignment - Essay Example Best practice revolves around factors such targets, incentives and monitoring. As a result of this criterion many organizations world over are poorly managed. Companies should therefore endeavor to increase their output and productivity; set promotions that enable them meet those targets. McNamara in his management practice at the Ford automobile company insisted on passenger safety unlike other automobile executives. At the pentagon he subordinated the parochial interests of individual services hence increasing efficiency and effectiveness Through implementing of stringent financial regulations, market sane strategies, and portfolio models that a managerial system would yield results. Many at times it requires an outside party to provide analytical and advisory services e.g. the case of Ford automobile company during McNamara’s tenure and the Department of Defense. Research has it that the public sector is poor at rewarding excellence and dealing with underperforming employees. For instance, in the US, school management revealed a teacher who spoke inaudibly in class thus causing inadequate performance by his students. He could not be dismissed from duty because he was unionized despite poor teaching in the subsequent years. Monetary incentives however have been shown to improve staff performance in developing economies. Successful management includes, but not limited to, evaluating how much an organization is lagging, making a total overhaul and benchmarking against the score card of more established and successful In management the executives should embrace dialogue rather than antagonistic machinations against quarters that are opined contrarily. McNamara in his lectures believes, â€Å"that for all its power, rationality alone will not save us and that humans may be well-intentioned but are not all-knowing.† In his examination of

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