Financial Services Industry
Industry: Email Alert RSS FeedThe mail man cometh. (management of the U.S. Postal Service)
Financial Executive, May, 1998 by Riley, Michael J.
The U.S. Postal Service has been transformed from a losing operation into a profitable government agency through performance measurement and planning, specifically the economic value added formula used by private companies. Record profits posted from 1995 to 1997 have allowed the agency to earmark billions of dollars for capital projects, pay-off loans and provide incentives to employees. These profits are a direct result of service innovations such as overnight delivery in urban areas and customer service improvements in post offices. In addition, the Postal Service has maintained lower rates compared with its private-sector competitors. Cost-reduction measures supplemented with cash-management techniques have also been implemented.
After you master the economic value added...
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