Company Success in Manufacturing Organizations: A Holistic Systems Approach

This book provides a comprehensive approach to measuring, monitoring, and predicting company success, combining quantitative and qualitative performance measures. It prepares engineers and future organizational leaders/managers to measure, monitor, and predict company success more meaningfully.

Format: Paperback / softback
Length: 176 pages
Publication date: 31 March 2021
Publisher: Taylor & Francis Ltd

In the past, the measurement of company success was largely confined to financial indicators. However, in recent times, a growing trend has emerged towards the inclusion of non-financial measures, such as employee morale, in assessing the success of a business. While various approaches have been developed to examine both quantitative and qualitative performance metrics that impact company performance, none of them provide a comprehensive and holistic understanding of what constitutes company success.

This book aims to address this gap by presenting a multifaceted approach that equips engineers and future organizational leaders/managers with the skills and knowledge necessary to measure, monitor, and predict company success in a more meaningful and insightful manner.

The first chapter of the book explores the concept of company success and its various dimensions. It discusses the importance of considering both financial and non-financial factors in evaluating a company's performance and highlights the need for a holistic approach that encompasses all critical performance measures. The chapter also introduces the key performance indicators (KPIs) that can be used to measure and monitor company success, including financial metrics such as revenue, profit, and return on investment (ROI), as well as non-financial metrics such as employee satisfaction, customer loyalty, and brand reputation.

The second chapter delves into the methodology and techniques for measuring and monitoring company success. It discusses the importance of data collection, analysis, and interpretation in gaining a comprehensive understanding of a company's performance. The chapter also provides practical tips and tools for collecting and analyzing data, such as surveys, interviews, and performance metrics. It also discusses the use of data visualization techniques to make the interpretation of data more accessible and actionable.

The third chapter focuses on predicting company success using data-driven approaches. It discusses the use of statistical models, machine learning algorithms, and data mining techniques to analyze large datasets and make accurate predictions about future performance. The chapter also explores the challenges and limitations of data-driven prediction and provides strategies for overcoming them, such as validating predictions with historical data and considering external factors that may impact company success.

The fourth chapter discusses the role of leadership and management in driving company success. It emphasizes the importance of setting clear goals, creating a positive work environment, and fostering a culture of innovation and collaboration. The chapter also provides insights into effective leadership and management practices, such as effective communication, decision-making, and problem-solving.

The fifth chapter explores the impact of technology on company success. It discusses the use of digital technologies, such as cloud computing, artificial intelligence, and the Internet of Things (IoT), to enhance efficiency, productivity, and customer experience. The chapter also explores the challenges and opportunities associated with technology adoption and provides strategies for leveraging technology to drive company success.

The final chapter summarizes the key insights and lessons learned from the previous chapters and provides recommendations for implementing a successful company success measurement and monitoring strategy.

In conclusion, this book offers a comprehensive and practical guide that prepares engineers and future organizational leaders/managers with the skills and knowledge necessary to measure, monitor, and predict company success in a more meaningful and insightful manner. By embracing a holistic approach that considers both financial and non-financial factors, engineers and future organizational leaders/managers can gain a deeper understanding of their company's performance and make informed decisions that drive growth and success.

Weight: 354g
Dimension: 234 x 156 (mm)
ISBN-13: 9780367782009