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Philosophy 1 7. Public Image 1 8. Employees 1 9. Distinctive Competence 2 Average Score 1.55 IIM Ahemadabad Mission IIMA's mission is to help India and other developing countries improve their managerial practices both in the private and in the public sectors, and adopt superior public policies. It seeks to do this through producing risk-taking leader-managers who will pioneer new managerial practices and set new standards; through producing teachers and researchers who will generate new ideas of International significance; and through purposeful consulting aimed at helping client organizations scale new heights.
Just as a report card assesses how well a student has performed and identifies areas where further growth can be achieved, PMS serve the same purpose in the business world. PMS give organizations feedback on the elements they measure, which helps management determine areas where they have performed well and identify those that need improvement. “As financial and accounting people, we have the opportunity to support our organizations’ efforts towards continuous improvement by creating performance measurement systems that provide relevant, factual information on core business processes and key activities” (Miller, 1992). The key objective of a PMS is to help guide management in understanding, managing and improving their business processes while reducing costs. Managing costs involves continuously improving processes used throughout the organization in an effort to make them as efficient as possible, whereby reducing costs.
Benchmarked could be such things as quality, price, cost-effectiveness and other factors. Benchmarking is important also in terms of improving company's supply chain management. As you are comparing your supply chain to the best practiced supply chain, it gives you detailed information on how to make your company's management processes more successful. When supply chain is benchmarked, it focuses on three aspects: the supplier,
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One of the most important of these, and perhaps the cornerstone of management itself, is the skill of empowering and delegating. These skills rely on ensuring that employees have the right training and understand the intended vision for the company. When Tom is confident of their ability to get the work done well, then he can empower them with confidence as well. The next group skill is team building, which can significantly improve the organization’s performance (Whetten, 2005). The most effective teams are those who successfully manage their transition through the first three stages of team development, including forming, norming, and storming (Whetten, 2005).