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Businesses are fountainhead of ideas:
Harvard don
Friday November 09, 2012 10:20:56 PM,
IANS
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New Delhi: The most
innovative ideas and thinking arise first in business, not in a
university or business school, says Harvard don and management
guru Robert S. Kaplan.
"Business faces continual competitive challenges and somewhere,
within that big sector, there are brilliant ideas and
innovations," Kaplan told industry and business leaders at a FICCI
event here Thursday evening.
Kaplan, who was here to receive the Global Management Guru Award
instituted by Birla Institute of Management Technology (BIMTECH),
rued the fact that many management and societal problems were
caused by poor measurements.
Constructing an accurate cost and profitability model for an
enterprise with hundreds of products and serving millions of
customers in thousands of stores would have been virtually
impossible 40 years ago, said Kaplan, the world's leading
authority on strategic performance measurement.
Advances in computing software and hardware had made such a
project economical and almost routine, noted Kaplan, according to
a BIMTECH statement.
Kaplan said his key insight was measuring the cost of unused
capacity (the cost of supplying resources is equal to cost of
using resources plus the cost of unused capacity.)
This simple but powerful explanation provided the foundation for
his Activity-Based Costing (ABC) Theory.
As companies reduce the quantity of demands on the organisation's
capacity-supplying resources -- through process improvements and
lean initiatives, by increasing batch sizes and reducing product
variety, etc. -- one created unused capacity in these resources,
which managers could then redeploy or eliminate, he said.
Welcoming Kaplan, a professor at Harvard Business School, FICCI
vice-president Sidharth Birla said entrepreneurial Indian
businesses could draw lessons from Kaplan's work to achieve
sustained growth.
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