Process excellence and performance turnaround can be regarded as synonyms.
Process Excellence is renowned for its ability to improve business processes and thus company results. Business Process Management (BPM) and Continuous Improvement methodologies, assists companies to increase their process capabilities and innovation success rates.
Process Excellence has entered the realm of business turnaround through it ability to facilitate the development of a clear path to success.
In essence turnaround is about creating a new vision, strategy and aligning the company’s processes and resources to deliver on new objectives. Usually the focus with a turnaround is about productivity improvement, cost management, cash generation and facilitating growth.
With Process excellence and performance turnaround a typical first step is to identify and prioritize low hanging fruits for performance improvement , and align scares resources to execute these for speedy results.
Alongside an internal due diligence exercise - Voice of the Business (VOB), when looking at turning around a loss making company, the leadership should seek to understand what their customers' really wants - Voice of the Customer (VOC). We all know that the customer is king and that any successful business knows what its customers’ current and future needs are.
Through Process excellence and performance turnaround, highly successful companies have aligned their processes and resources to create value that satisfies those customers needs appropriately. Appropriately meaning not over-doing things and so wasting money, but also never under-doing things which will result in loss market share.
Process excellence and performance turnaround guides the gathering and analysing of the VOC while measuring the company’s internal process and its capability to deliver on what the customer wants.
This sets the foundation for a tactical plan that will drive the turnaround efforts.
Through a filtration mechanism, the VOC and associated opportunities, are prioritised.
Once the company’s tactics are defined, objectives can be crystallised and several project ideas developed to bring about the desired performance turnaround. These ideas include processes, systems, resources, measures etc.
These ideas are entered into the filtration mechanism and prioritised against the company’s key objectives.
Project ideas are typically catagorized into productivity improvement, growth & innovation, and cash generation, for example. Of course, these categories should suite the company and its strategic objectives.
Experienced Process Excellence personnel can assist the leadership team to bring about swift yet sustainable improvement while laying a platform for future growth through the innovation projects.
What makes process excellence so powerful in business turnaround situations is that it drives decisions based on reality. That is, taking what we have (resources) and deploying it to achieve results most efficiently through correctly prioritised interventions. Subjectivity is forgone leaving objectivity to decide the course of action.
Because of its focus on measures, progress can be monitored at various levels within an organization and quick interventions launched when processes, systems or resources stray from course.
Process Excellence not only facilitates improvement or innovation, its control mechanisms and governance system ensures continuous process excellence.
AchieveProcessExcellence.com offers Process excellence and performance turnaround solutions to move businesses into to a higher, more profitable gear.
More pages that you may find of interest