The Principles of Operational Excellence [Infographic]
All companies should strive for operational excellence by using the following principles.
1. Respect for Employees
Employees who say there's a low level of respect between colleagues are 26% more likely to quit their jobs, while 61% say trust is very important for their job satisfaction.
2. Focus on Value Streams
A value stream can be defined as the process that creates what your customers are willing to pay for. For example, manufacturing a product, fulfilling an order or delivering a professional service.
3. Think Systemically
Credited as the father of systemic thinking, Professor Russell Ackoff defines systemic thinking as thinking about the whole system and the interconnectedness of different aspects of business.
4. Embrace Continuous Improvement
Continuous improvement involves companies always developing, evolving and improving their processes, services, products and so on. This is achieved through continual review, analysis and planning.
5. Encourage Collaboration
Employees spend 50% more time involved in collaborative work and online collaboration tools can increase workplace productivity by up to 30%.
6. Standardise Wherever Possible
Standardisation improves quality and increases business productivity, ultimately increasing profitability.
7. Build Your People, Suppliers and Partners
Businesses are built on people and connections. Continuously growing your connections allows your business to grow and improve.
Awardaroo helps businesses reach operational excellence with our one of a kind business improvement programme.