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Techno Finance and Executive Diary

Techno Finance and Executive Diary


Provides a insight over latest financial concepts important for TOP Executives. Important corporate topics which may be applied in various meetings and discussions. Disclaimer: Thanks to web/its writers..I have researched and found relevant and useful information and I am sure that viewers will find them interesting.

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Tuesday, September 26, 2006

Google Games--Warn as Addictive



Toogle Search - Bill Gates – It makes a search on Toogle, it fetches the first images from Google images search and converts the picture into a coloured ascii file made of only the search terms.

Google Mirror - Google Mirror - elgoog - This site is like a mirror reflection of Google. All the text is displayed in the reverse order and inclined to the right of the page just like Arabic language. Remember that the queries are also to written in the backward direction.

Gwigle - What Am I Googling? - A very addictive game where you are shown the Google search results page and you then have to reverse guess the search query. The game has various levels and can keep you busy for a long time. The accompanying tips will help you become a better googler.

Guess The Google - At the start of this Google game, a grid of 20 image thumbnails would appear each of would match one search keyword. You get 20 seconds to guess the search keyword but you can make as many number of guess as you want during that time.

Googlewhack - A Googlewhack is a Google search query consisting of two words - both in the dictionary, and without quotation marks - that returns a single result. The search will list 'Results 1-1 of 1'. Googlewhacking is the pastime activity of finding such a result. A person attempting to find Googlewhacks is known as a Googlewhacker. [Whack Stack]

World War on Google Maps Online players (2-25) randomly receive a set of countries with troop hitpoints based on real world population data. To play: attack neutral and enemy countries in an effort to try to take over the world. You have a 20% chance of receiving more troops when you overtake an enemy country. [via Slashdot]

Google Maps Flight Simulator - Nothing so advanced as the Microsoft Flight simulator, but this Googel computer game lets you fly a small farmer plane over any landscape created from a compilation of Google Maps images. You can use the keyboard arrow keys to change the flying directions, bank and dive. Space lets you fire while A/Z are for varying the flying speed.

Guess the Place - You are shown a picture and need to find out which country, state or city is being shown by looking at parts of Google Maps, or Flickr images of the place. [Philipp Lenssen]

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Monday, September 25, 2006

Benchmarking- Great management tool


Benchmarking is a systematic tool that allows a company to determine whether its performance of organizational processes and activities represent the best practices. Benchmarking models are useful to determining how well a business unit, division, organization or corporation is performing compared with other similar organizations. A benchmark is a point of reference for a measurement. The term 'benchmark' presumably originates from the practice of making dimensional height measurements of an object on a workbench using a gradual scale or similar tool, and using the surface of the workbench as the origin for the measurements.

Business benchmarking is related to Kaizen and competitive advantage thinking.

USE OF BENCHMARKING/BENEFITS

• Improving communication
• Professionalizing the organization / processes, or for
• Budgetary reasons
• In outsourcing projects
Traditionally, performance measures are compared with previous measures from the same organization at different times. Although this can be a good indication of the speed of improvement within the organization, it could be that although the organization is improving, the competition is improving faster...

FIVE TYPES OF BENCHMARKING

1. Internal benchmarking (benchmark within a corporation, for example between business units)
2. Competitive benchmarking (benchmark performance or processes with competitors)
3. Functional benchmarking (benchmark similar processes within an industry)
4. Generic benchmarking (comparing operations between unrelated industries)
5. Collaborative benchmarking (carried out collaboratively by groups of companies (e.g. subsidiaries of a multinational in different countries or an industry organization).

TYPICAL STEPS IN A BENCHMARKING PROCESS

• Scope definition
• Choose benchmark partner(s)
• Determine measurement methods, units, indicators and data collection method
• Data collection
• Analysis of the discrepancies
• Present the results and discuss implications / improvement areas and goals
• Make improvement plans or new procedures
• Monitor progress and plan ongoing benchmark.

COST OF BENCHMARKING

There are costs to benchmarking, although many companies find that it pays for itself. The three main types of costs are:
• Visit costs - This includes hotel rooms, travel costs, meals, a token gift, and lost labour time.
• Time costs - Members of the benchmarking team will be investing time in researching problems, finding exceptional companies to study, visits, and implementation. This will take them away from their regular tasks for part of each day so additional staff might be required.
• Benchmarking database costs - Organizations that institutionalize benchmarking into their daily procedures find it is useful to create and maintain a database of best practices and the companies associated with each best practice.

LIMITATIONS OF BENCHMARKING

• Benchmarking is a tough process that needs a lot of commitment to succeed.
• Time-consuming and expensive.
• More than once benchmarking projects end with the 'they are different from us' syndrome or competitive sensitivity prevents the free flow of information that is necessary.
• Comparing performances and processes with 'best in class' is important and should ideally be done on a continuous basis (the competition is improving its processes also...).
• Is the success of the target company really attributable to the practice that is benchmarked? Are the companies comparable in strategy, size, model, culture?
• What are the downsides of adopting a practice?

Book: Christopher E. Bogan, Michael J. English - Benchmarking for Best Practices -
Book: Peter Bolstorff, Robert Rosenbaum - Supply Chain Excellence -
Book: Joe Zhu - Quantitative Models for Performance Evaluation and Benchmarking -

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