In previous blogs, I have discussed issues relating the concept of Conscious Capitalism. From the perspective of Conscious Capitalism, business is not a zero-sum game with a winner and loser. It is a win-win game. Conscious Capitalism’s intellectual challenge is to create as much value as possible for all of its stakeholders. Less evolved forms of capitalism often treat stakeholders, other than investors, as little more than a means to achieving profit maximization.
In my previous blog on Technical Debt, I explained the concept of technical debt using software architecture as an example, and described the saw-tooth pattern of well-run businesses that consciously accrue technical debt for a period before investing time in paying off the worst of it.
The technical debt metaphor also describes the challenges of businesses maturing from the inception stage to one can make a good business case for ERP and beyond.
In the dim distant past of ERP, 10 years ago and more, the way you learnt about the software was by referring to the training manuals relating to various modules – Accounts Payable, Bill of Materials, etc. It was a very product-oriented and narrow view of learning. Times have changed, fortunately, and learning materials are turning towards how people work – their roles – and the business processes involved.
Technical debt is a term coined by Ward Cunningham in 1992 to describe the software engineering phenomena of how expedient, short-term decisions can have negative, long term consequences that make it difficult to maintain and update the software. The concept does not just apply to technology companies, any company that uses technology also has technical debt and understanding the concept will help you manage it and run your business.
Living in Africa, one is constantly aware of the vast poverty that plagues the continent. The poverty is in stark contrast to the continent’s natural wealth that led to Britain, Belgium, France, Germany, Italy, Portugal, and Spain, to colonize parts of Africa. How is it that a continent so rich can be so poor?
The answer is the poverty of African leadership. The impact of leadership, good or bad, is profound, both for nations and businesses.
In my previous blog post, How to Assess for ERP Competency, I defined competencies and discussed the process of assessing for competency, as opposed to assessing for knowledge. You may also recall some of the shortfalls of assessing for knowledge, which I pointed out in the ‘Cons’ section of my blog on The Pros and Cons of ERP Certification. I think this is a good time to explore the benefits of a competency-based approach to training and assessment. Here are six benefits – both for the employer and the employee.
Education and Training,
Ever noticed how quickly things come around again? No sooner than you've accomplished something, there it is again warranting your attention.
Twelve months ago this month I completed my first charity Etape du Tour after months of preparation and planning. And now, I find myself having done my second, successfully summiting the infamous cycling climbs of the Col du Tourmalet and Hautacam on 20th July -however, this time around it was a very different story indeed!
I recently took part in a management workshop, which saw two competing teams manufacturing a particular structure. This was a simulation exercise using Lego blocks in which we had to make as many structures in a minute as possible and deliver them successfully to the “customer.” The customer would then quality check the output and advise each team on how much revenue had been generated (you could lose revenue through rejections).
The first round came and in the excitement to deliver to the customer, we forgot about the supplier, we ramped up our stocks, we didn’t worry about the costs. We paid for it in profitability at the end of the round, the deductions for working capital really stung our bottom line.
One of the big differences between Tier 1 and Tier 2 ERP implementations is process maturity. They may be two short words, but they underpin huge differences in how ERP projects play out including how you approach the project, what you do, and how you do it.
Tier 1 ERP,
Tier 2 ERP
As the CFO of an organization, your responsibility is to ensure efficient and effective financial operations and records, and influence overall strategy. An ERP is the foundation of the operations of a business. For a CFO, it enables you to track and report on all business transactions, analyse information, ensure governance and compliance, and increasingly do this via mobile devices. Therefore, you need to be very sure your ERP project will deliver what the business requires, and also what was promised.