If you travel to London and Hong Kong, "mind the gap"s is a common phrases used in the Mass Transit System. It refers to the gap between the train and the platform. These gaps could cause careless revelers to fall into.
By constantly reminding revelers, nasty accidents could be avoided.
As managers, we should be constantly be reminded of our performance gaps i.e the gaps between actual and targeted. We should examine the underlying causes of the gaps - factors that contribute to the gaps.
The accountants call these gaps as variances and they have classified them as price, volume and productivity.
Based on these analysis, rectifying or improvement action could be taken on the critical negative gaps.
By constantly reminding revelers, nasty accidents could be avoided.
As managers, we should be constantly be reminded of our performance gaps i.e the gaps between actual and targeted. We should examine the underlying causes of the gaps - factors that contribute to the gaps.
The accountants call these gaps as variances and they have classified them as price, volume and productivity.
Based on these analysis, rectifying or improvement action could be taken on the critical negative gaps.
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