tedworksepcobestpractce-财务管理创造价值的新视角(编辑修改稿)

tedworksepcobestpractce-财务管理创造价值的新视角(编辑修改稿)内容摘要：

eives the PO and ships the order to the pany Receipts Settlement Upon receipt, the system automatically matches receipt with the PO and payment is made electronically. An asset record is automatically established based on the pany‟s accounting rules Delivery Employee receives product This example is taken from PeopleSoft’s purchasing module 20 169。 2000 Arthur Andersen All rights reserved. Utility panies are forming “open” marketplaces where registered buyers and suppliers e together in a virtual environment saving both time and processing cost  Pantellos is an open marketplace, founded in March 2000, when 21 of the leading utility panies in North America came together to explore the viability of an online trading munity. Founding investors include FirstEnergy, Duke Energy, Edison International, American Electric Power, Entergy, PGamp。 E, Southern Company, TXU, and Reliant Pantellos is currently hosting auctions totaling nearly $100 million per month, and indicates that member panies are saving up to $7 million in purchases for construction project services and transformers through this streamlined process.* *SOURCE: 21 169。 2000 Arthur Andersen All rights reserved. Power panies are outsourcing certain areas of their supply chain, recognising that other “third” parties are more specialized and capable of running these parts of the business  This major US power pany has outsourced its entire inventory function in part of its operations  The Company has entered into an arrangement for a third party to own all of the inventory with the third party delivering the inventory as needed to the specific job sites as requested this contractual arrangement defines service levels required (ontime delivery, damaged goods etc), and performance is measured monthly. Procurement Sourcing Purchasing Inventory and Warehousing Logistcs Co. Utility Co. Energy Company B a publicly traded diversified energy pany serving 12 US states with revenues of more than $11 billion annually. 22 169。 2000 Arthur Andersen All rights reserved. Performance Management what gets measured gets done 23 169。 2000 Arthur Andersen All rights reserved. Create a small, balanced family of measures that address cost, quality, and timeliness across the organization, its processes, and its people  Best Companies select a small number of measures to track at all levels of the organization.  These few measures focus attention on the key drivers of the business that, if managed properly, lead to superior organizational performance.  When too many measures are used, the message of what39。 s important around here? bees confusing and can cause the organization to lose sight of the most important variables in its performance equation.  The Balanced Scorecard provides a prehensive, topdown framework for implementing and managing strategy at all levels of an enterprise  It links objectives, initiatives and measures to an organisation‟s overall strategy  It was developed as an alternative to purely financially based performance management tools  Drs. Robert Kaplan and David Norton introduced it in the Harvard Business Review in 1992 “Balanced Scorecard is one of the 15 most important management concepts ever introduced in Harvard Business Review” Harvard Business Review, 75th Anniversary Issue 24 169。 2000 Arthur Andersen All rights reserved. What is a Balanced Scorecard?  The Balanced Scorecard encourages organisations to recognise that traditional financial measures are not sufficient for strategic enterprise analysis  It uses financial and nonfinancial measures to report on the oute of past performances as well as to provide an indication of future performance  To achieve “balance”, the methodology remends assessment of four perspectives: Financial How do we look against the financial objectives of our owners? Internal Process What must we excel at for our customers? Customer How do we look to the customers that we want to attract? Learning amp。 Growth How do we get better at improving? 25 169。 2000 Arthur Andersen All rights reserved. This leading utility uses a balanced scorecard approach to measuring business performance Energy Company B a publicly traded diversified energy pany serving 12 US states with revenues of more than $11 billion annually. Financial How do we look against the financial objectives of our owners? Internal Process What must we excel at for our customers? Customer How do we look to the customers that we want to attract? Learning amp。 Growth How do we get better at improving?  Complaints per 1000 customers  Switching rate of petitive customers  EPS  Net ine  SVA  Capital Expenditures  Operating Expenditures  Cashflow  SAIDI/SAIFI/CAIDI  Quality of supply  Generation KWH  Distribution KWH  Employee absenteeism  Days lost to injury These measures represent only a sample of the pany’s full scorecard of measures 26 169。 2000 Arthur Andersen All rights reserved. Another leading utility uses Shareholder Value Added (SVA) principles to monitor its performance at the management level, and more macro financial measures at the Board level The following items are reviewed by senior management on a monthly basis:  EPS variance  Net ine variance  Summarized consolidated ine statement  Shareholder value added  SVA preliminary results by major value center (ie. business unit)  Generation KWH sales  Distribution KWH deliveries  Gross margin petitive business unit  Expense variance  Cash flow The following items are reviewed by the Board of Directors on a monthly basis:  Earnings and dividends  Consolidated ine and earnings  Consolidated revenues and sales  Capitalizatio。