SJG Blog 2017
Operational Efficiencies Part IV – How to Prioritize and Decide What Opportunities to Explore and Implement
Welcome back to our series exploring the introduction of Operational Efficiencies to your business. In our first three installments, we discussed: The need for implementing efficiencies to thrive and create competitive advantage in a rapidly changing environment. “Rules of the Game” to encourage ideas and promote participation of all team
Remember the old “suggestions box?” Input from all levels of the company drives success by bringing ideas and opportunities to the forefront that otherwise would not be considered. Including everyone in the suggestion loop promotes comradery, encourages ownership in the process and rewards good ideas and follow-thru with recognition.
In Part I of our Operational Efficiencies series: Getting Business Owners in the Driver’s Seat, we described the importance of including all of your team members in the Operational Efficiencies Improvement process in order to fully capture ideas that come from differing perspectives, drive improvements throughout the company and promote
In order to remain competitive in an increasingly crowded and changing environment, businesses must take control and drive operational efficiency or risk being pushed off the road. “Operational efficiency” is defined by Wikipedia as the ratio between input to run a business operation and the output gained from the business.