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Management Dynamics: Merging Constraints Accounting to Drive Improvement 1st Edition

5.0 out of 5 stars 3 customer reviews
ISBN-13: 978-0471672319
ISBN-10: 0471672319
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Editorial Reviews

From the Inside Flap

Organizations have found that a continuous state of improvement and growth that shows up on the bottom line is a gargantuan task, and requires an understanding that definitive success demands a company-wide holistic approach. Management Dynamics is an in-depth, step-by-step analysis defining the critical ingredients essential to achieving ongoing improvement and a robust bottom line.

Focusing on practical, dynamic solutions for weaknesses in the interdependent parts of an organization, Management Dynamics provides a comprehensive introduction to the Theory of Constraints (TOC) in profit-oriented organizations, complete with the crucial but oft-missing pieces of the constraint theory–a fully integrated and supporting accounting system and the dynamic motivator to drive ongoing improvement in the bottom line.

Management Dynamics facilitates a smooth integration of covered material with an organization’s existing practices by building on existing constraint management approaches. It identifies the problems that arise from a lack of global goal congruence and demonstrates how to use a fair incentive compensation plan to align the goals of all functional areas and organizational levels with the shareholders’ goal of greater profitability.

Weaving each aspect of implementation to reflect the global goal of an organization, Management Dynamics features materials on:

  • Budgetary control
  • Pricing
  • Simplified critical chain
  • New ways to use sales funnels in the management tool kit
  • Incentive compensation

Complete with hundreds of informative illustrations and tables, Management Dynamics is an enlightening and useful guide for controllers, cost managers, and an organization’s executive management and owners.

From the Back Cover

"If you’re an accounting or management professor who is tired of seeing a continuous stream of traditional cost accounting textbooks and frustrated by accounting methods based on obsolete concepts, you’ll be very impressed with the fully articulated, workable approach and accounting methodology this book provides. It addresses virtually every dilemma in the modern accounting world with solutions that are elegant, rigorous, and direct. Best of all, it’s teachable!"
–Melvin J. Anderson, PhD, Professor of Management
Embry-Riddle Aeronautical University

"We have been missing a vital piece from constraints management: how to communicate the critical importance of the Archimedean constraints to finance. Constraints accounting finally provides the means to do this through the constraints accounting earnings statement, performance profit, and a new strategy for product pricing, thereby ensuring goal congruence and a robust process of substantial and ongoing improvement."
–Kelvyn Youngman, PhD, TOC practitioner
New Zealand and Japan

"This bold and scholarly work is a significant contribution to two disciplines: constraint management and managerial accounting. The constraints accounting measurement principles prescribed by John and Pamela Caspari in this excellent book provide a solid set of tools for improving management performance, achieving competitive advantage, and providing clear guidance for avoiding wrong-headed measurements that can lead an enterprise off course."
–Paul D. Dozier, President and CEO
Dozier & Associates Consulting

"All good managers intuitively know that increasing throughput results in more profit to the organization, but current cost accounting measures emphasize cost reduction. John and Pamela Caspari provide another look at the data to show us a better way to make business decisions. This is the Theory of Constraints book written for any business leader who is watching the numbers."
–David Kaser, Six Sigma Master Expert
Raytheon

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Product Details

  • Hardcover: 327 pages
  • Publisher: Wiley; 1 edition (September 13, 2004)
  • Language: English
  • ISBN-10: 0471672319
  • ISBN-13: 978-0471672319
  • Product Dimensions: 6.4 x 1.2 x 9.4 inches
  • Shipping Weight: 1.3 pounds (View shipping rates and policies)
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Best Sellers Rank: #2,233,551 in Books (See Top 100 in Books)

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Top Customer Reviews

By William McCormick on September 14, 2005
Format: Hardcover
Exhaustive in its coverage, this book answers many questions I had after reading the works of Corbett, Smith & Noreen, Srikanth & Robertson, and Goldratt. It includes an analysis of project management, sales, people, and strategy (in addition to standard DBR) as it relates to traditional Throughput Accounting and the newer Constraints Accounting.

An entire chapter is spent on pricing alternatives to the standard 'fully absorbed cost plus a reasonable margin' that far surpasses the standard Throughput per Constraint Unit of Time model; instead attempting to provide a means to decouple Throughput (T) from Operating Expense (OE) and Investment/Inventory (I) in order to drive continuous improvement. It also spends ample time discussing pricing in a market constrained environment, a situation more common then not.

Although I anticipate future additions to the body of Throughput/Constraints Accounting knowledge, Caspari has reinvigorated this increasingly stale and still under-developed (albeit highly preferable) alternative to traditional cost and activity based accounting. Having read every book available on the topic, I can say that Caspari's "Management Dynamics" tops even Debra Smith's excellent "The Measurement Nightmare".
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This is a very useful book. I have read a lot of material within TOC literatüre. They were all flying in my mind. After studying this book I have managed to tie different aspects of TOC together and aligned all my understanding by throughput accounting.
I have been certified by TOCICO for Supply Chain already and this book encouraged me to work hard again for TOCICO Finance&Performance Certification.
I like the pricing section especially. Reporting suggestions were great. POOGI Bonus Sysytem is a very interesting option.
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If you were looking for a complete and exhaustive explanation of the Theory of Constraints and the relative accounting system, this is your book.
Elegant and simple, it covers everything with a systematic theoretical approach, making it clear with plenty of examples.
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