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How not to abandon your e-procurement initiative
MARK HENRICKS' ARTICLE "Flaw and Order" (Entrepreneur Magazine, September 2004) referenced a behavioral economics study that identified the eight hidden strategy flaws frequently championed by corporate decisionmakers. The sunk-cost effect - based on the premise of throwing good money after bad - and the herding instinct are the two that seem to relate specifically to the challenges associated with e-procurement initiatives.

Other sustainable excellence Related Articles

Sustainable Business Change Begins With First Beliefs and then Attitudes
Sustainable change is becoming a "hot" business word. Entrepreneurs are realizing that change must be sustainable. Maybe you might identify with these two stories and begin to accept that sustainable change begins first and foremost with your beliefs.
Excellence vs. Perfection
At some point, we have to settle for "excellence" and go for it! I'm not talking about being sloppy or settling for mediocrity, but in most cases, excellence is good enough.

The Heart of Business Strategy: 48 Things That Matter
We usually think of business strategy as some sort of aspirational market positioning statement. Doubtless that's part of it. But I believe that the number one "strategic strength" is excellence in execution and systemic relationships (i.e., with everyone we come in contact with). Hence I offer the following 48 pieces of advice for creating a winning strategy that is inherently sustainable:
Are you inspiring excellence?
As an excellence advocate, one of your responsibilities is to inspire excellence in other people – especially those who work with you and for you. Excellence in the workplace leads to higher profits, higher job satisfaction ratings, and higher employee morale. Are you inspiring excellence? If not, then this article will show you how to start spreading the excellence around.
ACHIEVING EXCELLENCE THROUGH TOTAL COMMITMENT
Excellence is an excellent word and excellent companies strive for achieving it. Many factors contribute to the excellence of companies chief among them is employee’s commitment. Without commitment no company can think of achieving excellence. Commitment is rather a key ingredient for improving quality and productivity, reducing defects, increasing profitability and decreasing costs.

Examples of Sustainable Development
Sustainable development was coined in 1987 by the Bruntland Commission where they defined it as, 'development that meets the needs of the present without compromising the ability of future generations to meet their own needs'. Since then, sustainable development theory has been greatly expanded and these ideas have been utilised around the world. The need for development to become more sustainable is important, as many of the planet's ecosystems are degraded.
Sustainability Driven Innovation
Sustainable innovations are creating new business models, opening up new markets and providing competitive advantages. Sustainable innovation is also improving profitability. Companies around the world are demonstrating how innovative sustainable practices are bettering their bottom line. A focus on sustainability is enabling organisations to innovate, differentiate themselves and succeed. Although sustainable practices were once dismissed for being too costly, increasing numbers of companies are coming to the realization that sustainable innovations are a gateway to growth. Visionary business leaders who anticipate the winds of change and creatively develop sustainable products and processes will thrive in the rapidly changing economic landscape.
Expecting Excellence - A Key to Effective Leadership
The idea of expecting excellence isn't new, nor is the premise that every leader should expect excellence from his or her team. But just like everything a leader says and does, it's not so much a matter of "what" he or she does as much as it is about "how" they do what they do. There's a significant difference between establishing an environment where excellence is expected and one where excellence is demanded.
Lessons on Excellence
The Road to "the Top" comes through constant practice and is paved by the pursuit of excellence. Remember, mediocrity is miles from excellence. Mediocrity is easy, unnoticed, uninspiring, and boring. Excellence is difficult, visible, inspiring and fun.
How to Encourage Higher Sales Performance
Excellence in a sales organization means different things to different individuals and sales managers. Todays, sales manager must ensure that all individuals meet organizational criteria. This includes adhering to policies while also meeting and exceeding sales goals. The only way to ensure that people create excellence is by creating excellence in people.
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