Saturday, February 14, 2015
Beware: Small Mistakes Can Add Up to Big Headaches
Remodeling: Odds are good that, sometime in the next few weeks, you’ll be reviewing your company’s financials for the first quarter. To kick things off, you probably will review the company budget and compare actual results with what you had forecast. If the actuals beat the forecast, you’ll smile and continue business as usual. And if the numbers fall south of the forecast, you’ll probably continue business as usual but hope for a different outcome.
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2 comments:
Everything in life has a domino effect. We as human make the mistake and think that a small mistake doesn’t really count. But when you look at the big picture small mistakes add up and can lead to a clausal effect. The biggest example I can think of is from celebrity apprentice. All the women had the responsibility of raising money to help their team and one celebrity made the small mistake of not calling Bill Cosby to ask for a donation. And by her small mistake it lead to her not pulling her weight and her whole team being pulled down. With this fact being know it helped trump to be able to get her to realize that by her making this small mistake it had large repercussions and so he fired her. If we all work on always taking into account our small mistakes and not trying to dismiss them as small mistakes, life might just turn out more positively for everyone involved.
Yeah, it is funny how small mistakes have a way of adding up to something significant, and money is certainly no different. In my Organizational Behavior class, we had a lecture on optimizing workflows, such as redundant trips to the lumber yard, and what I learned is that the cost and efficiency savings of taking the time to analyze your company's workflows is really non-trivial. In certain companies, their competitive advantage is not necessarily the big picture or big ticket items which give them a leg up, but simply the fact that they can squeeze an extra dime out of every dollar. I definitely can see how a company that maintains a constantly self-analytical posture will succeed over one that does not. Finally, the author's note that nobody should feel that they are special or above the rest really does resound loudly with me. I certainly have been victim to the "it won't happen to me" card. After that happens several times, one really does learn to not rely on luck or circumstance to find a pathway to success.
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