Fuel,Index,amp,#40,measuring,s business, insurance Fuel Index ( A measuring stick for a company'
Date:2020-12-24 Fuel,Index,amp,#40,measuring,s business
As we all know to live in this world we have to perform some activity by which we can earn money. There are many activities by which we can earn money and meet the standards to live in this society. And from one of them is franchise. Franc
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Every company has a Vision, a Mission and a set of core values. Companies develop multiple strategies that implemente the Values to realize their Mission.I always wondered,1) Is there any relationship between a company's values and it's success?2) Do a company's Values impact other factors of success?3) How do we measure that impact?Every company should have Values that increase and support higher Productivity (P), Quality (Q) of product, quality of workplace and quality of working. Every companys Values should also encourage and reward Creativity ( C ). The Values of every company should serve as a primary fuel to fan the growth of the company-employee social system. For Values to produce higher Productivity and instill Creativity while upholding highest possible and attainable Quality in the process, the Values need to thrive in the air of honesty. Honesty in a company is synonym for courage and is a measure of risk readiness and agility. I define the Fuel Index as one that measures the sustainability and agility of a company. Higher the Fuel Index the better a companys chances for a successful and sustainable leap from good to great.I suggest to list the companys Values and rank each Value from 0 to 2 in regards to how the Value impacts the Productivity, Quality and Creativity (0 means Value has no impact on ). Also rank the values from 0 to 2 with respect to the risk involved to implement the Value to achieve higher Productivity, Quality and Creativity (0 being no risk involved in implementing that Value to achieve the goals). Score (0 to 2)VALUES P Q C R----- -- -- -- ------- -- -- -- --Total -- -- -- -- Average -- -- -- -- Fuel Index = (Avg R)[(Avg P)+(Avg Q)+(Avg C)]The range of the Fuel Index is 0 to 12. If the Index is 0 to <=3Means the company has to re-look and re-evaluate their values (Fuel). The company should focus on better defining the values that mean and do greater good to the company-employee social system. First they have to find the better Fuel and second they have to create an air of honesty in the workplace and finally find the Right people to implement these in company-employee social system .3 to <=5Means the company has values that mean something and may play important role in the developing a healthy company-employee social system. The company focus should be directed to better dissemination of those values through the company-employee social system. This is the company that has viable fuel. How they use it now and intent to use it in future is the key for their success. >5The score of 5 and above is a good indicator of sustainability and agility of a company. They have the right mixture of fuel (Values) and air (Risk/Honesty). They need to make sure to maintain and constantly evaluate the strategies that are used for this combustion. That means the company should constantly make sure to have right people implementing the values and performing the checks and balances needed to assure a sustainable growth.
Fuel,Index,amp,#40,measuring,s
business
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