Increase efficiency, eliminate waste
Business statesmanship consists of knowing, controlling and directing forces which react favourably or unfavourably upon the progress of
The aim of every executive is to earn money for the shareholders (that's you and your family) by operating the business at a profit. No company can enjoy the confidence of its shareholders unless it demonstrates good management by satisfactory earnings. If it cannot do this, it will soon lose ground to its competitors.
There is never a period, however prosperous, without its uncertainties. Businessmen are being nothing more than prudent when they pay attention to the efficiency of their operations and waste elimination is a major function of their jobs.
There is no more interesting a game for men and women to apply their minds to, than thinking of ways to perform work efficiently with a saving of time and effort. In fact, they have to consider it or face extinction.
It is possible to have waste in the top ranks of administration as well as on the floor of the factory, the desk in the office, or a store counter.
The managing director may waste investment; his immediate subordinates, the senior managers of the organisation, may waste opportunity through complacency; the marketing manager may waste business through neglecting customers and prospects; the advertising manager may waste money through inappropriate campaigns; the production manager may waste labour through slow work pace, lost motion, or lack of proper instruction; the chief buyer may waste money through buying improper materials, specifying incorrectly, providing poor storage, or paying higher prices than necessary.
This si the propoer meaning of waste, not just ink or media.
The man in charge, whether of a big industry or of a small stockroom, must learn where waste may occur, sense when it is occurring, and act diligently to halt it. The ideal that inspires the formulation of the principles of efficient management at every level is elimination of waste. This is a vital duty, not something tacked onto a job to be thought about now and then.
High on the list of causes of wasted time is poor planning. We blunder into time-and-energy-consuming projects that are of little importance to our business or happiness because we do not look far enough ahead.
The cure is to list the jobs you wish to do in the order of their importance, and then to go to work on them. Put everything possible on a timetable; note it down and forget it until the right moment arrives; then do it or check to see it's being done.
Define your goals, work out a programme, set up timetables, concentrate on the essentials, and shake out the timewasters in your life. Having disposed of one task, tackle the next decisively. Try working at a brisk tempo: we work more easily and use less energy.
Elimination of waste is not something that may or may not be done. It is an economic necessity, a matter of survival. It contributes to success just as surely as does profit itself.