Big recession? No recession? Rising cost of funds? Regardless of what’s happening in the environment, building a more efficient organization brings big benefits, including cost control, and better employee and customer experiences.
A good percentage of strategic plans include efficiency-related initiatives, many of them geared toward embedding process improvement into the culture or creating a culture of continuous process improvement. If you’re on that path, here are a few of the sticking points we’ve observed that you’ll want to avoid.
1. Executives not knowing when to hit the gas and when to back off
Executives know that they play a key role in shifting the culture to one that continuously thinks about and acts on building efficiency. They need to talk about the objectives of the culture change and their support of it clearly and consistently. But when it comes to backing up their words with actions, we see some executives struggling with too much or too little involvement.
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