MADIIIPM.docx
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MADIIIPM.docx
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MADIIIPM
首先,我们来看一下之前的题目:
Criticallyarguefromthemodulematerialandusingacademicreferences;whichofthemodernperformanceevaluationmodelswouldbemostappropriateforthe***,andwhy?
Usingacademicliterature,criticallyassessthevariousperformancemeasurementsandsuggestwhichmeasureisthemostsuitablefor***incontrolling,planningandmaintainingitscompetitiveadvantage.
于是乎,HYH童鞋预测今年的出题思路为,比较一下各个model,找出最适合宝马的model
背景,都有哪些model?
1,Valuebasedmanagement:
emphasizestheimportanceofshareholders(EVA是其中之一)
2,activitybasedmanagement:
ABC→decisionmaking
3,Balancedscorecard:
non-financial+financial
4,Qualitybasedmanagement:
通过提高quality提高financialresult(EFQM,TQM)
5,Strategicenterprisemanagement:
强调了information对于strategicdecisionmaking的作用
6,sixsigma
奎哥在PPT中有过具体介绍的是1EVA,3BSC,4EFQM
所以我们来具体比较一下这三个:
EVA:
Definition:
anestimateofafirm'seconomicprofit–beingthevaluecreatedinexcessoftherequiredreturnofthecompany'sinvestors(beingshareholdersanddebtholders).
EVAistheprofitearnedbythefirmlessthecostoffinancingthefirm'scapital.
EVA=after-taxoperatingincome(NOPAT)-WACC*(Totalassets–currentliabilities)
Advantages:
(1),includingequitycapitalcost:
connectshareholdersbenefitstomanager’sperformance,equitycapitalcostisnolongerafreecost,reducetheconflictbetweeninternaldecisionandexecutive
表:
部门经理基于ROI或EVA做出的决策及其结果
评价标准
重要决策点
基于部门经理利益
最大化决策
基于公司财富
最大化决策
部门经理决策结果
基于ROI的投资决策
ROI2
TC
ROI2>ROI1
拒绝
拒绝
接受
拒绝
接受
接受
目标一致
目标不一致
目标一致
基于EVA的投资决策
EVA<0
EVA>0
拒绝
接受
拒绝
接受
目标一致
目标一致
注:
ROI1为在不考虑新投资机会情况下的计划投资回报率;ROI2为新投资机会的投资回报率。
(2),correctlypresentsthevaluecompanycreateswithinafixperiod:
traditional:
revenue,managermaymanipulaterevenue,EVA:
avoidaccountinginformationdistortion.Managercanthinklikeowner.Adjustaccountingeffect(firstin,firstout),avoidearningsmanagement(nobaddebt),avoidaccountingerror(bookvalueincorrectly)
(3),reducedecentralizedmanagementproblem:
subsidiarycanmakeEVAdecisionbasedontheirowncapitalandcoordinatewithdifferentdepartments
(4),financialalarm:
useallpublicinformationofthecompanyandrisk,extramarketinformationcomparingtotraditionalbasedoninternalinformation
(5),effectivemotivation:
canuseEVAincreaseratetoevaluatemanager’scontributionandofferreward.
(6),reflecttruecorporaterevenue:
includingopportunitycost
(7),focusoncorporatesustainabledevelopment:
notsacrificelongtermrevenueandincreaseshorttermperformance,thiscanencourageinnovation,employeetraining
Criticisms:
1),scaledifferentiation:
cannotreflectthedifferencebetweendifferentdepartments,largedepartmentsusuallyhavelargeEVA
2),shortteamdrive:
emphasizeonrealeffect,managerwouldnotwillingtoinvestonnewproduct
3),financialoriented:
ignoresnonpurchasedintangiblessuchasemployeeskills
How:
Earnmoreafter-taxoperatingincomewiththesamecapital:
Uselesscapitaltoearnthesameafter-taxoperatingincome:
Investcapitalinhigh-returnprojects:
EvaluateBMWwiththismodel:
Objective1:
Promotebrandprestige
Whatthecompanydoes:
launchmoreadvertisementstorecallcustomers’attentionanddesignnewproductstomeetcustomers’need
Howtomeasure:
companycancalculatethecostitspendsonbothadvertisementsandinnovationprocessandthencomparingtherevenueitgetsfromthisnewstrategywithEVAmodeltoevaluatethepossibility
Objective2:
highperformance
Whatthecompanydoes:
investonR&Dtodevelophighqualityproductandhiresupplierswithhighqualitysupply
Howtomeasure:
calculatethecostitspendsonbothR&DandnewsupplierscomparingtherevenueitgetsfromtheirnewstrategywithEVAmodeltoevaluatethepossibility
Objective3:
security
Whatthecompanydoes:
usemoreadvancednewmaterialsanddevelopmoresafetysystem
Howtomeasure:
calculatethecostofnewmaterialanddevelopingcostcomparingwiththerevenueitgetsformthenewstrategy
WHYNOTEVA:
Theanswermayberejecttheprojectwhensomeresultarenegativefortheeobjectivestalkingbefore.However,itignoressomenon-financialperspective,forexamplecompanymayinvestsomemoneytotrainthestaffinR&Ddepartmentstodevelopthenewproduct,thisintheintangiblevalueandcannotberecordedherewhichmayreducetherevenueitgets.
BSC
Definition:
astrategicplanningandmanagementsystemthatisusedextensivelyinbusinessandindustry,government,andnonprofitorganizationsworldwidetoalignbusinessactivitiestothevisionandstrategyoftheorganization,improveinternalandexternalcommunications,andmonitororganizationperformanceagainststrategicgoals.
aperformancemeasurementframeworkthataddedstrategicnon-financialperformancemeasurestotraditionalfinancialmetricstogivemanagersandexecutivesamore'balanced'viewoforganizationalperformance.
aframeworkthatnotonlyprovidesperformancemeasurements,buthelpsplannersidentifywhatshouldbedoneandmeasured
Benefit:
●Intheageofinformation,financialmeasuresareinadequatebecauseitjusttellthestoryofeventsalreadycompleted:
short-term
●BSC:
executivescanmeasurehowtheirbusinessunitscreatevalueforcurrentandfuturecustomers,howtheymustbuildandenhanceinternalcapabilities,andtheinvestmentinpeople,systemsandproceduresnecessarytoimprovefutureperformance:
long-term
●BSCpermitabalancebetween:
ØShorttermandlongrunobjectives
ØExternal(forshareholdersandcustomers)andinternalmeasures(criticalbusinessprocess,innovationandcustomers)
ØOutcomemeasuresandperformancedrivers
ØHarder(objective)orsofter(subjective)measures
●BSCshouldbeusedasacommunication,informingandlearningsystem,notasacontrollingsystem
Criticism:
●AlthoughtheBalancedScorecardrecognizesexplicitlytheinterestsofshareholdersandcustomers,itdoesnotexplicitlyincorporatetheinterestsofotherimportantstakeholders,suchasemployees,suppliersandthecommunity
●Theinterestsofshareholdersappearonthescorecardthroughobjectivesandmeasuresinfinancialperspective.Customermeasuresalsoappearoneveryscorecardsincecustomersareessentialformeetingthefinancialobjectives.Andobjectivesandmeasuresforemployees,suppliersandthecommunityappearwhenoutstandingperformancealongtheseobjectivesandmeasureswillleadtobreakthroughperformanceforcustomersandshareholders
●Theemployeeperspectivehasbeenincorporatedinallscorecardthroughthelearningandgrowthperspective
•Assumescauseandeffectbutunproven
•Relativeimportanceofdifferentperspectivesisunclear
•Impliesamultiplestakeholderperspectivebutinrealityshareholderinterestsremaindominant
•Non-financialmeasuresarenotevaluatedinmonetaryterms
Fourperspectives:
1)Financialperspective:
howdowecreatevalueforourshareholders:
要在财务上取得成功,我们需要向股东展示什么
Objective:
profitability
BMWdoes:
Showsgrowrevenue+reducecoststoitsshareholders
Measure:
throughitsbudgetanalysisandinventorytracking
BMWalsoneedstolinkrevenuegrowthandcostreductionobjectivetoitsobjectivesinthefollowingperspectives:
customer,internalandlearning&growth.
2)Customerperspectives:
whatdoexisting&potentialcustomersvaluefromus:
我们应向顾客展示什么
Objective:
increasebothcustomersatisfactionandbrandimage
BMWdoes:
launchmoreadvertisementtopromoteitsbrandimageandimprovethesupplier’squalityandservices.
Measure:
marketshareofBMW,customersurveytomeasureitssatisfactionandtheresponsetimeforservices.
3)Internalperspectives:
whatprocessesarethevaluedriversatwhichwemustexcel:
我们需要在那些业务上领先
BMW:
1.Innovation:
Objective:
meetthecustomerneeds
BMWdoes:
shorterthetimetolaunchtheproduct,addmorevalueonitsproduct
Measure:
thetimetolaunchthenewproduct,thesalesandprofitsofthisnewproduct,customer’sperception
2.Operations:
Objective:
lowcostandhighquality
BMWdoes:
cooperatewithhighqualitysupplier,just-in-timeoperation,optimizeitsoperationprocess
Measure:
thetimetodeliveryorder,accuracy,inventory,suppliertracks,logistic,coordinationamongthem,defectrate
3.Postsalesservice:
Objective:
rapidresponse
BMWdoes:
improveitslogisticsystem
Measure:
responsespeed,customerfeedback
4)Innovation&learning:
howcanwesustaininnovation&improve&createfuturevalue:
我们需要取得怎样的进步来适应变革和发展
Objective:
sustainablegrowth
BMWdoes:
trainingandinvestmoreonequipment
Measure:
employeesatisfaction,operationefficiency
Howemployeesunderstandcompany’sstrategy:
survey
YESTOBSC----bothfinancialandnon-financial
EFQMModel
Definition:
8concepts:
♦managementbyProcessesandFacts
♦CustomerFocus
♦ResultsOrientation
♦PublicResponsibility(”GoodCorporateCitizen”)
♦ContinuousLearning,ImprovementandInnovation
♦PartnershipDevelopment
♦Leadership
♦PeopleDevelopmentandInvolvement
具体的中文解释:
第一,结果取决于兼顾并满足所有相关受益者的需要(受益者包括员工、顾客、供应商、社会以及企业的投资人)。
第二,以顾客为中心,顾客是产品和服务的最终裁判人。
使顾客忠诚,留住顾客以及获得市场份额都是通过清楚地识别顾客目前的和潜在的需要而得到最优化。
第三,组织中的领导行为创造了清晰一致的组织目标,也创造了使组织及其员工取得优秀的环境。
第四,当组织内部的所有活动被理解并系统地加以管理时,当有关现行运营和有计划的改进等决策是通过使用包括受益者意见在内的可靠信息作出时,组织运行就越有效。
第五,组织中员工的潜能是通过价值分享,相互信任和授权的文化氛围,鼓励员工参与得以充分的释放。
第六,当组织是在不断学习,创新和改进的文化氛围中进行管理和分享信息时,其绩效最优。
第七,组织与其伙伴有互惠关系,建立信任,分享信息并保持一致时,其工作最有效。
第八,对于一个注重公共责任的企业,其组织及其员工的长期利益会得到最好保护。
左边enables5个相加=右边results是最完美的模式
结果指导企业达到目标,实施导致结果
1)领导
即领导者们如何促成任务和远景目标的实现,开发长期成功所需要的战略,并通过适当的行动和行为予以实施,领导个人参与以确保发展和实施组织的管理系统。
它包括:
(1)领导者提出任务、远景目标和价值观,并且在优秀文化方面起模范作用;
(2)领导亲自参与确保组织管理系统的开发、实施和不断改进;
(3)领导参与接触顾客、合作者和来自社
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