The main factor in the systemic lack of thinking of profits is the poor understanding of how a business operates. I call these operational practices business disciplines. These disciplines are the fundamental processes and procedures any successful business repeatedly uses to get consistent results. Some examples are: making decisions, solving problems, setting priorities, and collaboration.
It is not enough that the leadership of your firm uses formalized versions of these disciplines. These processes should be shared with all departments and implemented throughout the company as common practices. The processes may have to be modified or simplified for certain areas, but using a common process base will help ensure consistent operational flow in the organization. It will also instill a sense of pride in the employees when they are considered important and empowered by the company leadership.
Copyright 2016 Doug Ringer
Doug’s Blog is a frequent memo that is always powerful and to the point. It focuses on innovative ideas to help organizations create Profitable Habits that improve profitability.
Privacy statement: Your email address is never shared with anyone for any reason.
You may subscribe to my monthly Product Development Accelerator newsletter by clicking here.
Originally posted 2016-06-07 05:56:19. Republished by Blog Post Promoter