What is a balanced Scorecard? The Balanced Scorecard is basically a strategic planning and reporting technique, that captures the objectives of an organization and divides them between four perspectives that hold equal significance. These include financial, customer, operational, and people perspective. In order to provide a clear course of implementation the organizational objectives cascade [...]
We often face some problems in our life that need our utmost attention and problem-solving abilities to get out of them victoriously. Problem-solving is a skill that not many people have, but everyone needs. We need this skill in our daily lives, especially when we are in an office setting, because we have to [...]
What is Internal Audit System? A good internal quality audit system is a fundamental element of ISO 9001. In essence, it can be considered as a self-assessment or analysis to ensure internal procedures are being followed and compliance with ISO 9001 is maintained at all times. An organization’s management can develop an independent audit [...]
What is a Histogram? In a set of data, how often each value is present is shown in a frequency distribution. Now in order to show frequency distributions, the most commonly used graph is a histogram which basically is a graphic or visual presentation of data. Despite the fact that the similar information can [...]
Description Root cause analysis is often the progressive approach taken up by many organizations, willing not only to survive but to thrive at the same time. Identifying what the real issue is behind a problem holds the key to the success of an organization. Many organizations put together a separate team to investigate the [...]
While working in an organization and being involved in business risk management or lean methodologies, you often come across similar terms that hold completely different meanings. Similarly, there is confusion between internal audit and internal control. Internal audit and internal control differ from each other to a very great extent. This article explains the [...]
Whether you are student, businessman, worker or professional and whether in school, workplace or office, everyone will face problems in some shape or form. You will often be required to solve them as part of carrying out your task. Some of those problems are pretty much clear and straightforward to solve; however, that is [...]
The permit to use a kitchen for business purposes can be achieved from agency’s depending on types of products and food items you produce. You will be responsible to know and adhere to all guidelines, requirements, codes of conduct issued by governmental agencies. This can be controlled through SOP’s where it is defined how [...]
Introduction The fishbone diagram, also known as the Ishikawa diagram, is a cause and effect diagram. This tool helps to identify potential causes and find the root cause of a specific problem. Furthermore, then it helps in identifying, analyzing, and improving quality issues. Sometimes it can also be useful to identify what can go [...]
Introduction Anyone who has been in business worldwide for any period, will be familiar with the concept of continuous improvement. The logic is simple and self-explanatory and is all about continually improving your processes and how you do things in general. Benefits of Continuous Improvement There are several benefits of continuous improvement. Some of [...]
