By Maureen O'Hara
Written by means of one of many major specialists in marketplace microstructure examine, this publication offers a complete advisor to the theoretical paintings during this very important quarter of finance.
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Extra resources for Market Microstructure Theory
This may sound contradictory to the statement made in the preceding chapter, that strategy is a master plan and therefore tends to be complex. In reality there is no contradiction. qxd 7/18/2006 1:27 PM Page 38 Examples of Leadership in Strategic Decisions ● ● They should be stripped to their essentials, and Be phrased in a way that the degree to which they are realized is measurable and controllable. Additionally, the quantitative metrics associated with strategic decisions should be directly related to the ongoing activities of the organization, not to far-fetched or imprecise events.
What others are doing is often at the bleeding edge. In this as in any other domain, a good project is when we can do with $1 a job for which our competitors need $2 and $3. At the same time, however, high technology is not a goal but an enabling tool to support our strategic plans and reach our goals. Something similar can be said about financial resources. In principle, a company with innovative, low cost but high quality products, and with market appeal, does not have to be worried about finances, as Dr Louis Sorel, my professor of business strategy at UCLA, taught his students.
To be able to follow a holistic approach which puts all costs and risks in perspective, and therefore improves corporate governance, all levels of management must be equipped with appropriate tools, which are easy to use and work in realtime. An example is Internet-based dashboards, putting executives in immediate and interactive touch with their business. ● ● They display critical information in user-friendly graphics, and Their deliverables are assembled in real-time from corporate databases, using knowledge-enriched software.