The workbook process
The workbook process containing 11 steps involved every employee from all levels of the company including regular managers of the middle management or higher
They were actively involved in identifying objectives, estimating costs,as well as working with other departments on cross-functianal objectives.
Once budgets and objectives were set, updates on financial performance and orbectives took place monthly.
Eventhough the Workbook process provided employees with some more transparency and better understanding of the company’s operational goals, there were several major concerns, resulting from the issues related to the actual implementation of the process.
Value of workbook process
Varies across work groups
Lack of commitment from non-financially oriented employees
Inconsistency in numbers
Costly
Involves many employees at all levels
Too many steps involved
Training costs
Manual process
Objectives and financial statements are updated monthly
The Patagonia workbook process was designed to make information about company’s strategic, budgeting, and quality improvement process available to all employees and to encourage the employees to be an active part of the company’s planning, operating review, and decision making processes.
Benefits of workbook Process:
Workbook process is used in decentralized organizations to share the financial condition of the company with all employees.
It helps employees understand how his or her job affects the financial success of the organization, and allows employees to see the interdependence and importance of each business function.
The Workbook process encourages employees to think out-of-the-box ideas from those who feel more vested in the company’s success. It adds to employee focus on the success of the business benefits to the bottom line as its operations become more cost-effective, maximizing each employee’s value. Concerns for the workbook process
Offer more training to educate each employee
They were actively involved in identifying objectives, estimating costs,as well as working with other departments on cross-functianal objectives.
Once budgets and objectives were set, updates on financial performance and orbectives took place monthly.
Eventhough the Workbook process provided employees with some more transparency and better understanding of the company’s operational goals, there were several major concerns, resulting from the issues related to the actual implementation of the process.
Value of workbook process
Varies across work groups
Lack of commitment from non-financially oriented employees
Inconsistency in numbers
Costly
Involves many employees at all levels
Too many steps involved
Training costs
Manual process
Objectives and financial statements are updated monthly
The Patagonia workbook process was designed to make information about company’s strategic, budgeting, and quality improvement process available to all employees and to encourage the employees to be an active part of the company’s planning, operating review, and decision making processes.
Benefits of workbook Process:
Workbook process is used in decentralized organizations to share the financial condition of the company with all employees.
It helps employees understand how his or her job affects the financial success of the organization, and allows employees to see the interdependence and importance of each business function.
The Workbook process encourages employees to think out-of-the-box ideas from those who feel more vested in the company’s success. It adds to employee focus on the success of the business benefits to the bottom line as its operations become more cost-effective, maximizing each employee’s value. Concerns for the workbook process
Offer more training to educate each employee