Improving Business Performance - Coursework Example

One other important point to consider is that XYZ was using a fairly rudimental traditional cost system. This system was unable to capture the company’s production function hence contributing to its deteriorating situation. Since companies use the ABC system to improve products, the plant manager at XYZ chose to embrace it and put it into practical shape. Based on the above areas of concern, this study further seeks to explore the fate of XYZ based on its undertakings to improve business performance.

Stout & Bedenis (2007) display a graphical representation of ABC elements. The graphics reveal the extent to which a company like XYZ could recover from its shaky state by just taking the elements into consideration. To benefit from ABC implementation XYZ used ABC data to construct profit and loss statements. “With the ABC model, XYZ is able to reveal the positive financial effects of using common components.” (Stout & Bedenis, 2007) One vital lesson learned from the engagement between XYZ and ABC system is that work and time are infinite and we should therefore manage our time and not work. Furthermore, it should also be learned that the structure of an organization, as well as its financial status, influences the effectiveness of its ABC implementation.

This article is important to the class as it extensively informs the learners on how to improve business performance in the rightful manner. I would therefore like to discuss the following in class:
• Credible measures to undertake in response to business losses
• Improving business performance
• Embracing modern business techniques Read More