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Decision Support Systems, Part 3 – Modeling & Forecasting
In parts 1 and 2 we described two levels of Decisions support systems (DSS) systems, which analyze the “what and the why” of business performance. In a third level of DSS functionality which is more advanced, analysis enables modeling of mechanisms, to predict the outcome of one action or alternative actions: ‘What shall be the outcome if a certain measure is taken’ (what-if analysis).Predictions may relate to any of the following (indicatively):· How much shall revenue be increased, due to a marketing campaignthere's no good research to support that. Never mind that the fields of business are littered Risk Management and Business Management Go Hand-in-Hand You've heard the advice: if you make your workers happy, then they'll be productive. It's nonsense.So, you’ve started your own business. You saved the money, carefully constructed a business plan, thoroughly studied your potential consumers or clients based on their needs for your product or service, rented a space from which to work, hired a few people, and posted the “Open” sign on the door. But wait –more goes into business management that just planning your business, hiring employees, and selling a product or service. As a business owner, you need to consider risk management and insurance.The steps of risk management For years, soft-headed types have looked at highly productive work groups and noticed something. Workers in the top performing groups also had higher morale than workers in other groups. "Aha!" thought the soft-heads, "happiness causes productivity." Never mind that there's no good research to support that. Never mind that the fields of business are littered w Leadership - Motivation Magic ense.Motivation sometimes seems a lot like magic. Some people can do it. Other people can't. Your boss tells you that you need to "motivate your people," but doesn't tell you how.The Merriam-Webster dictionary defines "motivate" as "to give someone a motive." It goes on to define "motive" as something that causes a person to act. In business you're told to "motivate" the people who work for you. In police work, we're told, you solve a crime by figuring out the motive.I've got the motive, which is money, and the body, which i For years, soft-headed types have looked at highly productive work groups and noticed something. Workers in the top performing groups also had higher morale than workers in other groups. "Aha!" thought the soft-heads, "happiness causes productivity." Never mind that there's no good research to support that. Never mind that the fields of business are littered Success By Doing It - Don't Wait Till Your Advertisement Is Perfect d something. Workers in the top performing groups also had higher morale than workers in other groups.The importance of immediate, massive, daily action has been written about many times already but it is so important that it is worth writing about again and again. The examples in this article come from the world of business but they could apply to any other walk of life as well.Marketing is the life blood of business but sometimes businessmen will wait until they have written the perfect advertisement or sales message before they send out even one ad. They also spend weeks making sure their website is beautifully designed with "Aha!" thought the soft-heads, "happiness causes productivity." Never mind that there's no good research to support that. Never mind that the fields of business are littered Feedback: Take It or Leave It ... But Get It groups.The expense was substantial. An immersion workshop with twelve participants sharing a common goal to hone their skills. With nervous eagerness like kindergarteners embracing school, we received input, critique, and suggestions about our work. Some of the feedback I used. Some of it I didn't. But all of it was helpful.I haven't always viewed feedback that way. At times in my career, I've taken it more like a personal indictment than a helpful gauge; an intruder I needed to defend against, rather than input I needed to evaluate. "Aha!" thought the soft-heads, "happiness causes productivity." Never mind that there's no good research to support that. Never mind that the fields of business are littered GM, Ford, Intel and Dell all Laying Off Thousands of Employees there's no good research to support that. Never mind that the fields of business are littered with the dead bones of companies that believed it.Do you have a job at a Fortune 500 Company? Do you feel safe that you will not lose your job? Are you certain that your pension cannot be raided and you will be able to retire on-time with the full-benefits package that you were promised? What if I told you that many of the greatest American Corporations of the present period were laying off tens of thousands of people as we speak? Would you still feel safe?Perhaps you work for a regional large corporation and feel safer; should you? Well, I would not if I were you as things ca Take the example of a small, regional air carrier from some time ago. Company management believed that if they made their workers happy, productivity and profitability would follow. They set about doing the things they thought would make their people happy. They paid their people very well, much more than other airlin
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