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Finding the right balance between high profits, low costs, quality products/services and safety standards is not an easy process. Companies continue to face problems when trying to adjust to one of these components, rather than the other. An example in this direction is British Petroleum (BP).
According to the Airline Quality Rating, the U.S airline industry succeeded in achieving its best performance of all times last year, in 2013, since the ranking system was launched in 1991.
Talent management is an important function of the Human Resources department, concerned with attracting, developing, engaging and retaining productive employees. Using metrics to monitor HR departments has been practiced for a while and ensuring high performance talent management can become an important competitive advantage for a company. But what do baseball and talent management have in common?
In recent times, the use of data, statistics and analytics has flooded the sports environment, with more and more professional sports teams adopting data analysis to measure their performance. This trend has been ascending continuously since the launch of the much debated Moneyball, by Michael Lewis, which covered the deployment of statistical analysis in baseball.
There has been a long discussion about what does an organization, product or effort need to keep in focus: quantity versus quality. This all-baffling duality brings animosities, because it reflects different reasons, or rather, different facets of the same reason: how to get the maximum output in exchange for a certain input.
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