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The Quintessential Survival Guide in the Corporate Quagmire! | |
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Auditing Improves Effective Planning
Speak of operations assessment, and we'll hear its significant value. Speak of an audit, and we'll run for the nearest emergency exit. There's no difference between the two, yet that word audit chills us. But is an audit really designed to help us or hurt us? Improve Performance with Auditing Problems most often arise from poor planning. Sometimes we're uncertain if we're tackling the correct issues and dealing with them the right way. However, we can improve our assumptions about processes and performance with more effective auditing. Management Process The internal audit process is not intended to be a 'gotcha' game. Rather, auditing helps management understand and validate the planning element. By keeping an objective record of the process, we can learn to swim first and avoid that sinking feeling later. Improve with Internal Auditor Training Les Cornelius, Quality Assurance Coordinator at Lee BioSolutions, Inc., took a two-day IRCA Internal Auditor Skills Class for the knowledge of getting improved results. "I have to stay updated on new and improved ways to design, assess and improve processes," said Cornelius. "The checklists, planning an audit, designing an audit program and conducting an audit - all are very helpful in preparation for the ISO certification audit." Business Assessment By gathering objective evidence through observation, interviews and samplings of records, management can make better decisions. This will help: ? Test organizational objectives and processes ? Write factual audit reports that help improve the effectiveness of the management system ? Suggest ways to verify the effectiveness of any corrective action to achieve the objectives Audit Process Auditing is the third phase of the Plan, Do, Check, Act process approach - check. It is also one of the 8 quality principles of ISO, which allows managers to make better decisions based not on subjective opinion but objective fact. The audit process is a valuable step for improvement. Auditor training will teach managers and executives how to improve the effectiveness of their management system, which is essential for ISO 9001 certification. Auditing and ISO 9001 To fully understand the requirements of ISO 9001 and to facilitate audit teams, you can also take a five-day IRCA Lead Auditor course. After all, auditing is designed to help us, not hurt us. Chris Anderson is currently the managing director of Bizmanualz, Inc. and co-author of policies and procedures manuals, producing the layout, process design and implementation to increase performance. To learn how to increase your business performance, visit: Bizmanualz, Inc.
MORE RESOURCES: A look at economic developments around the globe (AP) AP - A look at economic developments and activity in major stock markets around the world Friday: NY's AG isn't backing down from Wall Street probe (AP)
Summary Box: Commodities fall on Greece debt woes (AP) AP - GREEK WOES: Commodity prices fell broadly as a plan to fix Greece's crippling debt crisis remained far from settled, renewing concerns about global economic growth. Most commodity prices fall on Greece debt woes (AP) AP - Commodity prices fell broadly Friday after a plan to fix Greece's crippling debt crisis suffered a setback, renewing concerns about global economic growth. Bernanke urges action to heal housing markets (Reuters) Reuters - Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore U.S. housing markets, saying depressed house prices and sales are a serious drag on the economic recovery. Obama call for manufacturing revival a tough goal (AP) AP - President Barack Obama is making a strong election-year push for an economic revival "built on American manufacturing." But he faces an uphill slog, with little consensus even within his own party on how to do it. Gov't on pace for $1T deficit despite January dip (AP) AP - The federal deficit was lower through the first four months of the budget year than the same period last year. Still, the deficit is expected to top $1 trillion for the fourth year in a row, putting more pressure on Congress and President Barack Obama in an election year. Bernanke: Weak housing has hurt consumer spending (AP)
January budget gap shrinks (Reuters) Reuters - The monthly budget deficit narrowed to $27.4 billion in January from $49.8 billion in the same month a year earlier, partly because some benefit payments normally made in January were shifted to December, the Treasury Department said on Friday. Anxiety over incomes hits consumer morale (Reuters) Reuters - Americans felt worse about their personal finances in early February, but rising confidence in the labor market's prospects should help to support spending and the broader economy. Romney appeals to U.S. business with harsh China talk (Reuters) Reuters - Mitt Romney slammed China's "autocratic model" of capitalism in a speech to technology executives on Friday, keeping up attacks on the economic powerhouse days before a visit from a Chinese official expected to be the country's next leader. Housing a "significant headwind" to recovery: Fed's Pianalto (Reuters) Reuters - The housing market is holding back the broader economic recovery now that foreclosures have become "a national crisis," a top Federal Reserve official said on Friday. Exclusive: Future of bank benchmark rate under review (Reuters) Reuters - A global probe into whether banks colluded to set the interest rates at which they borrow money from each other has thrown into question the future of the benchmark they use to price financial products worth an estimated $360 trillion. Bernanke urges action to heal U.S. housing markets (Reuters)
Spain cuts firing costs in new labor reform (Reuters) Reuters - Spain cut severance pay for workers on Friday and watered down collective bargaining rights, giving more power to employers as it attempts to kick start its moribund jobs market and slash Europe's highest unemployment rate. Portugal watches Greek debt drama with foreboding (Reuters) Reuters - Portugal's economy will shrink as much as Greece's this year, according to IMF projections. The two will have identical current account deficits and the red ink in Portugal's budget will be almost as deep as in Greece's. Trade deficit widens to $48.8 billion in December (AP)
U.S. jobless rate projected to fall sharply (Reuters) Reuters - Economists in a survey see the unemployment rate falling much faster this year than previously expected, an improvement in the jobs market that could help President Obama's re-election chances. Consumer mood worsens in February on income worries (Reuters) Reuters - Americans felt worse about their personal finances in early February, even as they saw a light at the end of the tunnel for the jobs market, a survey released on Friday showed. Instant View: Consumer mood worsens in early February (Reuters) Reuters - Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a survey released on Friday showed. |
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