1) The document discusses pragmatic approaches to optimizing operational costs during times of radical change and uncertainty. It outlines a 3 step process of engage and set up, discover and diagnose, and iterative design and implementation.
2) The discover and diagnose step involves defining customer segments, attributing costs, conducting a holistic analysis of the operating model, and identifying cost optimization opportunities across components like customers, processes, partners, organization, locations, and technology.
3) The iterative design and implementation step defines initiatives, establishes waves for iterative delivery, and tracks benefits to realize savings on the bottom line. Various levers are discussed like shifting customers to lower cost channels, reducing failure demand, streamlining processes, rationalizing applications,
Slide share Customer Focused Six Sigma - European Quality JournalDr. Ted Marra
This document introduces the concept of Customer Focused Six Sigma as an evolution of the traditional Six Sigma methodology. It argues that while Six Sigma has successfully reduced costs, it has become too narrowly focused on internal processes rather than customer needs. Customer Focused Six Sigma takes a more balanced, "whole brain" approach that considers customers' perspectives to identify improvement opportunities. It aims to simplify processes, reduce costs for customers, and improve responsiveness in order to increase customer satisfaction, loyalty and value for the business. The authors provide examples of how different problem priorities can emerge from a customer view versus an internal view, and outline principles for applying Customer Focused Six Sigma.
This document discusses how outsourcing value analysis can help increase value for customers and service providers. It recommends providing a strategic governance framework, identifying unmet needs, and transforming business processes. It then summarizes how NorthPoint's outsourcing value analysis software can deliver value by identifying risks, customer needs, and opportunities to improve the customer relationship and maximize value realization. The software provides comparisons to best-in-class data and can help improve customer satisfaction, retention and sales cycles.
This white paper focuses on two types of services that should be explored instead of direct cost reduction measures. Those that: 1. Bring in value through better realization of benefits 2. Take measures to reduce costs through optimization channels
Investing in such services, especially during these times, will allow service providers to better position themselves in the challenging competitive arena.
Business Process Reengineering PowerPoint Presentation SlidesSlideTeam
Business Transition is a simple process, our business process reengineering PowerPoint presentation slides are graphical representation of this complete process. This change management process PPT template comprises of slides like types of change management, forces for change, gap analysis, vision statement, organizational change readiness, change management agents, roles of leadership in CM, role of team members, role of key stakeholders, Lewin’s three-stage change model, ADKAR model, bridge transition model, Szpekman’s communication framework, Roger’s technology adoption curve, risk and barriers, risk assessment etc. The organization can use this PPT graphics to pitch business transformation process with content ready templates such as risk matrix, resistance assessment survey, resistance to change, resistance management plan, implementation strategies, change transition plan, change transition curve, communication plan, CM training and timeline, sustaining momentum, change management cost, evaluation, results, performance dashboard. Download this change control process PowerPoint template to motivate your team to focus on adaptability. Boldly face challenges that emerge with our Business Process Reengineering PowerPoint Presentation Slides. They enable you to get into the fray.
The document discusses creativity and innovation, providing frameworks and processes to build capability and drive growth. It outlines an innovation model and roadmap, highlighting data sources, relationships, and how to use the DMAIC process for idea generation. Metrics and measures for innovation are also presented, including financial, project performance, process performance, and market launch indicators. The overall goal is to establish innovation as a core competency and strategic imperative.
The document provides an overview of financial and business analysis for banks. It discusses several key areas:
1) The objectives of financial analysis are to measure risk and return to inform investment, credit, and regulatory decisions by analyzing past performance and macroeconomic conditions.
2) A PEST analysis evaluates the political, economic, social, and technological factors affecting a bank, and benchmarks key metrics against competitors to identify areas for improvement.
3) Financial statement analysis and complying with banking laws and regulations are also important analytical tools. Budgets aid planning by considering changing conditions and potential problems.
The document discusses quality in projects from the perspective of Go n Grow Business Consulting Inc. It covers topics such as quality planning, assurance, and control. Quality is discussed as being fundamental to business success, protecting brands, retaining customers, and improving profitability. The document recommends adopting a philosophy of prioritizing quality over short-term financial returns and emphasizes continuous improvement. It also stresses managing systems and processes rather than individual defects to improve quality.
The document discusses quality planning and management in projects. It provides guidance on defining quality attributes like functionality, usability, reliability and performance. It emphasizes that quality planning should start at the beginning of a project to establish metrics and processes. Continuous improvement is also stressed, with monitoring and problem solving throughout the project lifecycle. Management has overall responsibility for quality. The customer defines quality standards and a focus on meeting their requirements is key.
Slide share Customer Focused Six Sigma - European Quality JournalDr. Ted Marra
This document introduces the concept of Customer Focused Six Sigma as an evolution of the traditional Six Sigma methodology. It argues that while Six Sigma has successfully reduced costs, it has become too narrowly focused on internal processes rather than customer needs. Customer Focused Six Sigma takes a more balanced, "whole brain" approach that considers customers' perspectives to identify improvement opportunities. It aims to simplify processes, reduce costs for customers, and improve responsiveness in order to increase customer satisfaction, loyalty and value for the business. The authors provide examples of how different problem priorities can emerge from a customer view versus an internal view, and outline principles for applying Customer Focused Six Sigma.
This document discusses how outsourcing value analysis can help increase value for customers and service providers. It recommends providing a strategic governance framework, identifying unmet needs, and transforming business processes. It then summarizes how NorthPoint's outsourcing value analysis software can deliver value by identifying risks, customer needs, and opportunities to improve the customer relationship and maximize value realization. The software provides comparisons to best-in-class data and can help improve customer satisfaction, retention and sales cycles.
This white paper focuses on two types of services that should be explored instead of direct cost reduction measures. Those that: 1. Bring in value through better realization of benefits 2. Take measures to reduce costs through optimization channels
Investing in such services, especially during these times, will allow service providers to better position themselves in the challenging competitive arena.
Business Process Reengineering PowerPoint Presentation SlidesSlideTeam
Business Transition is a simple process, our business process reengineering PowerPoint presentation slides are graphical representation of this complete process. This change management process PPT template comprises of slides like types of change management, forces for change, gap analysis, vision statement, organizational change readiness, change management agents, roles of leadership in CM, role of team members, role of key stakeholders, Lewin’s three-stage change model, ADKAR model, bridge transition model, Szpekman’s communication framework, Roger’s technology adoption curve, risk and barriers, risk assessment etc. The organization can use this PPT graphics to pitch business transformation process with content ready templates such as risk matrix, resistance assessment survey, resistance to change, resistance management plan, implementation strategies, change transition plan, change transition curve, communication plan, CM training and timeline, sustaining momentum, change management cost, evaluation, results, performance dashboard. Download this change control process PowerPoint template to motivate your team to focus on adaptability. Boldly face challenges that emerge with our Business Process Reengineering PowerPoint Presentation Slides. They enable you to get into the fray.
The document discusses creativity and innovation, providing frameworks and processes to build capability and drive growth. It outlines an innovation model and roadmap, highlighting data sources, relationships, and how to use the DMAIC process for idea generation. Metrics and measures for innovation are also presented, including financial, project performance, process performance, and market launch indicators. The overall goal is to establish innovation as a core competency and strategic imperative.
The document provides an overview of financial and business analysis for banks. It discusses several key areas:
1) The objectives of financial analysis are to measure risk and return to inform investment, credit, and regulatory decisions by analyzing past performance and macroeconomic conditions.
2) A PEST analysis evaluates the political, economic, social, and technological factors affecting a bank, and benchmarks key metrics against competitors to identify areas for improvement.
3) Financial statement analysis and complying with banking laws and regulations are also important analytical tools. Budgets aid planning by considering changing conditions and potential problems.
The document discusses quality in projects from the perspective of Go n Grow Business Consulting Inc. It covers topics such as quality planning, assurance, and control. Quality is discussed as being fundamental to business success, protecting brands, retaining customers, and improving profitability. The document recommends adopting a philosophy of prioritizing quality over short-term financial returns and emphasizes continuous improvement. It also stresses managing systems and processes rather than individual defects to improve quality.
The document discusses quality planning and management in projects. It provides guidance on defining quality attributes like functionality, usability, reliability and performance. It emphasizes that quality planning should start at the beginning of a project to establish metrics and processes. Continuous improvement is also stressed, with monitoring and problem solving throughout the project lifecycle. Management has overall responsibility for quality. The customer defines quality standards and a focus on meeting their requirements is key.
The webinar discusses the Pereira Diamond Benefits Model. It presents a framework for systematically managing and quantifying benefits throughout a project's lifecycle. The model categorizes benefits across four dimensions: business growth, legal compliance, costs reduction, and efficiency increase. It also distinguishes between primitive benefits, such as reducing process time, and instantiated benefits, which are the tangible effects of achieving primitive benefits, like freeing up employee time. The webinar provides tools and techniques for identifying metrics, estimating benefits, tracking benefits realization, and maximizing benefits.
Leadership Strategies for High Performance Contact CentresTina Arora
This Presentation was prepared & shared by me as a Guest Speaker at a Conference on 'Customer Experience and Service Quality Excellence', organised by Gripel (www.gripel.com), on 27 and 28 May 2011.
Operational Risk: Solvency II and the external factors’ analysisIgnacio Reclusa
This document discusses how to properly assess operational risk under Solvency II by considering processes, capabilities, and external factors. It provides an example assessment of the seven main risk categories (product, marketing, actuarial, etc.) by scoring each attribute (processes, capabilities, external factors) from 1-10 and calculating a total risk score. By only considering processes previously, the insurance company underestimated operational risk exposure by 1.2 million euros compared to the more comprehensive three-attribute approach. The document advocates analyzing external factors at the macroenvironment, industry, and competitor levels to fully capture relevant risks.
The document summarizes questions and answers from a webinar on applying the Pereira benefits management model. Key points include:
- The Pereira model can partially be applied to public sector organizations, focusing on costs and efficiency. A social ROI model is being developed.
- Benefits estimation should prioritize legal compliance, business growth, cost reduction, then efficiency increase.
- Revenue-generating projects fall under the business growth dimension but cost reductions also directly impact results.
- Benefits have dynamic behavior over a project lifecycle so cannot be considered fully achieved/not achieved without ongoing tracking.
- Organizations should be benefits-driven, not cost-driven, though cost estimation is
The document discusses applying lean principles to product development. It outlines the origins and limitations of lean thinking, introduces lean product development, and describes applying the five lean principles (specify value, identify value streams, make value flow, pull from customers, pursue perfection) to product development. It also discusses keys to success like reducing batch sizes and queues, and limits of applying lean thinking due to the reactive nature of product development.
This document discusses conducting market research and analysis to evaluate the feasibility of bringing a new product or service to market. It outlines several key areas of focus for market research, including market entry strategies, competitive landscape analysis, customer insights, and market sizing and segmentation. Examples of market data that could be collected are also provided, such as information on industries, competitors, products, customer support, and testing. The overall goal of the research is to inform strategic planning and market entry decisions.
This document discusses management by metrics (MBM) and provides guidance on developing and using metrics to track business performance. It defines what a metric is and explains that the goal of metrics is to measure performance relative to goals and objectives. It then provides a five-step process for developing appropriate metrics and discusses common business metrics such as sales revenue, customer retention, costs, margins, and productivity. The document emphasizes linking metrics to objectives and identifying the key drivers and processes that impact performance. Finally, it outlines a three-step leadership roadmap for managing with metrics that involves defining objectives, integrating the customer perspective, and identifying performance drivers and processes.
Supplier Relationship and Value Management The five programme killers, and ho...Tejari
At the program level, David Atkinson, MD of consultants Four Pillars, provides a model for developing your organization’s supplier management strategy by introducing the five critical questions that will mean the difference between failure and success. For each of these questions, answers are provided that will get you thinking about how you will make Supplier Relationship and Value Management work for your organization.
This document discusses various measures for evaluating the effectiveness of direct and indirect sales performance. It outlines demographic factors, sales cycle analysis metrics, metrics for measuring the rate of change, ways to assess sales performance, considerations regarding sales methodology, and metrics related to customer relationship management systems. The overall goal is to identify the most important factors to analyze in order to improve sales processes and drive better business outcomes.
The document discusses several key accounting issues in hotels that impact profitability. It summarizes several studies that examined why some similarly situated hotels are more profitable than others. The studies found that the more profitable hotels generated 46% higher profits through a combination of 5% higher revenues and 7.3% lower costs. Superior performance was attributed to factors like better operating efficiency, marketing, product specifications, and service delivery. Understanding cost behavior and using techniques like customer profitability analysis can help hotel managers make more informed decisions to improve profits.
This document provides a template for creating a business case to justify investing in a mobile marketing program. It outlines sections to include such as an executive summary, opportunity overview, assumptions, business impact analysis, risks, and a recommendation. The template helps the user build the business case by providing examples of what to include in each section.
Everyone "knows" that B2B customers buy products when you show them the economic advantages of buying your offering. Often, you can develop a strong economic argument without collecting massive amounts of data, installing enterprise software systems or spending a ton of money. In this webinar, Jim Geisman of Software Pricing Partners shares his extensive experience working with companies to sharpen their value propositions.
Jim Geisman provides practical advice and tips that have helped B2B marketing and sales professionals in companies ranging in size from global companies to start-ups.
In the field of business and management, data science is transforming how companies organize, operate, manage talent, and create value. In this talk, David will share his experience as a data scientist and consultant on data science in business – from business experimentation to planning process optimization. He will also reflect on the career progress as a data scientist and provide suggestions to young data scientists
Ten strategic advantages provided by an architecture approach. Including a capability based approach to governance and change, and operating optimally.
Customer Experience Strategy: Invisible Innovations That Matter MostClearAction
Innovate customer experience where customers want it most: your behind-the-scenes processes, policies, etc. (i.e. getting your act together from the customer's perspective) These things may be invisible to customers, but they're the most powerful toward aligning with customers, enabling (not enticing!) them to love you.
See https://ClearAction.com
Product Management And Service Delivery Process - FlackVentures ExampleKate Pynn
A lifecycle methodology enforces some very important processes that deliver critical value to Service Delivery. Some key contributions are:
Business driven goals (e.g. profit, performance, credible schedules, resource effectiveness….)
Roles and responsibility clarification (e.g. delegation, decision making, optimization….)
Organizational effectiveness (e.g. resource structure for task, enable cross functional efforts….)
Planning enforcement at the beginning before major resources committed
Continuous learning enabled that builds core competency in credible delivery plans.
This Masterclass is used to provide an introduction to the world off multi-national consulting, problem solving, client relationship skills and project management for first year post MBA Associate Consultants. We have used this introductory module and others in the series to help McKinsey, BCG, Deloitte and KPMG in Africa, China and Australia bring their new hires up to speed
This document discusses expense management strategies for organizations. It defines expense management as an ongoing process of actively managing costs to ensure each dollar spent generates revenue or competitive advantage. The key elements of an effective expense management strategy include: understanding who initiates expenses and why expenses are incurred; using categories to analyze the underlying reasons for expenses; implementing strategic substitutions to reduce or eliminate expenses; establishing performance measures to monitor results; and integrating expense management into human capital strategies to engage employees.
Target costing and its in reducing the cost comparison at industrial companiIAEME Publication
This document discusses target costing and its role in reducing costs for industrial companies. It provides an abstract that outlines analyzing costing and cost reduction methods for construction firms in Libya. The document then reviews literature on target costing, describing it as a cost management tool used to reduce product costs over the entire lifecycle. It discusses principles of target costing like being price-led, focusing on customers and design, involving cross-functional teams, taking a lifecycle orientation, and engaging the value chain. The document also examines how most product costs are determined at the design stage, and how techniques like Lean Six Sigma, Just-in-Time production and Total Quality Management can help reduce waste and costs.
The webinar discusses the Pereira Diamond Benefits Model. It presents a framework for systematically managing and quantifying benefits throughout a project's lifecycle. The model categorizes benefits across four dimensions: business growth, legal compliance, costs reduction, and efficiency increase. It also distinguishes between primitive benefits, such as reducing process time, and instantiated benefits, which are the tangible effects of achieving primitive benefits, like freeing up employee time. The webinar provides tools and techniques for identifying metrics, estimating benefits, tracking benefits realization, and maximizing benefits.
Leadership Strategies for High Performance Contact CentresTina Arora
This Presentation was prepared & shared by me as a Guest Speaker at a Conference on 'Customer Experience and Service Quality Excellence', organised by Gripel (www.gripel.com), on 27 and 28 May 2011.
Operational Risk: Solvency II and the external factors’ analysisIgnacio Reclusa
This document discusses how to properly assess operational risk under Solvency II by considering processes, capabilities, and external factors. It provides an example assessment of the seven main risk categories (product, marketing, actuarial, etc.) by scoring each attribute (processes, capabilities, external factors) from 1-10 and calculating a total risk score. By only considering processes previously, the insurance company underestimated operational risk exposure by 1.2 million euros compared to the more comprehensive three-attribute approach. The document advocates analyzing external factors at the macroenvironment, industry, and competitor levels to fully capture relevant risks.
The document summarizes questions and answers from a webinar on applying the Pereira benefits management model. Key points include:
- The Pereira model can partially be applied to public sector organizations, focusing on costs and efficiency. A social ROI model is being developed.
- Benefits estimation should prioritize legal compliance, business growth, cost reduction, then efficiency increase.
- Revenue-generating projects fall under the business growth dimension but cost reductions also directly impact results.
- Benefits have dynamic behavior over a project lifecycle so cannot be considered fully achieved/not achieved without ongoing tracking.
- Organizations should be benefits-driven, not cost-driven, though cost estimation is
The document discusses applying lean principles to product development. It outlines the origins and limitations of lean thinking, introduces lean product development, and describes applying the five lean principles (specify value, identify value streams, make value flow, pull from customers, pursue perfection) to product development. It also discusses keys to success like reducing batch sizes and queues, and limits of applying lean thinking due to the reactive nature of product development.
This document discusses conducting market research and analysis to evaluate the feasibility of bringing a new product or service to market. It outlines several key areas of focus for market research, including market entry strategies, competitive landscape analysis, customer insights, and market sizing and segmentation. Examples of market data that could be collected are also provided, such as information on industries, competitors, products, customer support, and testing. The overall goal of the research is to inform strategic planning and market entry decisions.
This document discusses management by metrics (MBM) and provides guidance on developing and using metrics to track business performance. It defines what a metric is and explains that the goal of metrics is to measure performance relative to goals and objectives. It then provides a five-step process for developing appropriate metrics and discusses common business metrics such as sales revenue, customer retention, costs, margins, and productivity. The document emphasizes linking metrics to objectives and identifying the key drivers and processes that impact performance. Finally, it outlines a three-step leadership roadmap for managing with metrics that involves defining objectives, integrating the customer perspective, and identifying performance drivers and processes.
Supplier Relationship and Value Management The five programme killers, and ho...Tejari
At the program level, David Atkinson, MD of consultants Four Pillars, provides a model for developing your organization’s supplier management strategy by introducing the five critical questions that will mean the difference between failure and success. For each of these questions, answers are provided that will get you thinking about how you will make Supplier Relationship and Value Management work for your organization.
This document discusses various measures for evaluating the effectiveness of direct and indirect sales performance. It outlines demographic factors, sales cycle analysis metrics, metrics for measuring the rate of change, ways to assess sales performance, considerations regarding sales methodology, and metrics related to customer relationship management systems. The overall goal is to identify the most important factors to analyze in order to improve sales processes and drive better business outcomes.
The document discusses several key accounting issues in hotels that impact profitability. It summarizes several studies that examined why some similarly situated hotels are more profitable than others. The studies found that the more profitable hotels generated 46% higher profits through a combination of 5% higher revenues and 7.3% lower costs. Superior performance was attributed to factors like better operating efficiency, marketing, product specifications, and service delivery. Understanding cost behavior and using techniques like customer profitability analysis can help hotel managers make more informed decisions to improve profits.
This document provides a template for creating a business case to justify investing in a mobile marketing program. It outlines sections to include such as an executive summary, opportunity overview, assumptions, business impact analysis, risks, and a recommendation. The template helps the user build the business case by providing examples of what to include in each section.
Everyone "knows" that B2B customers buy products when you show them the economic advantages of buying your offering. Often, you can develop a strong economic argument without collecting massive amounts of data, installing enterprise software systems or spending a ton of money. In this webinar, Jim Geisman of Software Pricing Partners shares his extensive experience working with companies to sharpen their value propositions.
Jim Geisman provides practical advice and tips that have helped B2B marketing and sales professionals in companies ranging in size from global companies to start-ups.
In the field of business and management, data science is transforming how companies organize, operate, manage talent, and create value. In this talk, David will share his experience as a data scientist and consultant on data science in business – from business experimentation to planning process optimization. He will also reflect on the career progress as a data scientist and provide suggestions to young data scientists
Ten strategic advantages provided by an architecture approach. Including a capability based approach to governance and change, and operating optimally.
Customer Experience Strategy: Invisible Innovations That Matter MostClearAction
Innovate customer experience where customers want it most: your behind-the-scenes processes, policies, etc. (i.e. getting your act together from the customer's perspective) These things may be invisible to customers, but they're the most powerful toward aligning with customers, enabling (not enticing!) them to love you.
See https://ClearAction.com
Product Management And Service Delivery Process - FlackVentures ExampleKate Pynn
A lifecycle methodology enforces some very important processes that deliver critical value to Service Delivery. Some key contributions are:
Business driven goals (e.g. profit, performance, credible schedules, resource effectiveness….)
Roles and responsibility clarification (e.g. delegation, decision making, optimization….)
Organizational effectiveness (e.g. resource structure for task, enable cross functional efforts….)
Planning enforcement at the beginning before major resources committed
Continuous learning enabled that builds core competency in credible delivery plans.
This Masterclass is used to provide an introduction to the world off multi-national consulting, problem solving, client relationship skills and project management for first year post MBA Associate Consultants. We have used this introductory module and others in the series to help McKinsey, BCG, Deloitte and KPMG in Africa, China and Australia bring their new hires up to speed
This document discusses expense management strategies for organizations. It defines expense management as an ongoing process of actively managing costs to ensure each dollar spent generates revenue or competitive advantage. The key elements of an effective expense management strategy include: understanding who initiates expenses and why expenses are incurred; using categories to analyze the underlying reasons for expenses; implementing strategic substitutions to reduce or eliminate expenses; establishing performance measures to monitor results; and integrating expense management into human capital strategies to engage employees.
Target costing and its in reducing the cost comparison at industrial companiIAEME Publication
This document discusses target costing and its role in reducing costs for industrial companies. It provides an abstract that outlines analyzing costing and cost reduction methods for construction firms in Libya. The document then reviews literature on target costing, describing it as a cost management tool used to reduce product costs over the entire lifecycle. It discusses principles of target costing like being price-led, focusing on customers and design, involving cross-functional teams, taking a lifecycle orientation, and engaging the value chain. The document also examines how most product costs are determined at the design stage, and how techniques like Lean Six Sigma, Just-in-Time production and Total Quality Management can help reduce waste and costs.
Business Process Re-Engineering by ADITI WALIAAditi Walia
For the first time ever, this presentation on BPR has a wide coverage of so many topics regarding BPR, it includes not only definition + issues affecting BPR + about core processes of business + history about BPR + General Model + Role of IT in BPR + its objectives + Outcomes as well as problems related to BPR in a very simple and fluent manner along with interactive diagrams and figures so as to aid even the naive or first time reader.
This document discusses balancing operational value, pace, and risk in mid-market acquisitions. It focuses on sources of value and risk, including revenue stream growth, cost element efficiency, working capital efficiency, and fixed asset efficiency. Some example improvement areas are product value engineering, purchasing cost reduction, management information systems alignment, and improving attendance. The document emphasizes that value and risk are often linked, and managing risks involves understanding sources of inherent and change-related risks. It also notes the importance of cross-functional cooperation to improve operational performance.
1) The document describes a 6-step approach to conducting service-based IT cost modeling: identify target services, define service levels, calculate service costs, identify cost saving opportunities, review recommendations with customers, and create plans to optimize costs.
2) It involves creating a cost model for each service by determining costs of underlying assets, operations, and labor, then analyzing costs and service levels to identify ways to reduce recurring, on-time, and future costs through means like adjusting service levels or renegotiating contracts.
3) The goal is to provide transparency into IT costs and give businesses leverage to control spending through understanding trade-offs between costs and service quality. Third Sky offers expertise in piloting this approach for
Exploring Values and Value Streams by BPM method solved by Lean Management toolIOSR Journals
This paper suggests a continuous improvement plan that can satisfy customer’s value and eliminate
waste in the enterprise business process. In order to explore the applicability of lean management principles in
the enterprise business process, the five fundamental concepts (specify value, identify the value stream, flow,
pull, and perfection) of lean management are being used as a stable and proved approach. In addition, Business
Process Management is applied as a new method to constantly improve the elimination of waste in the
enterprise business process. This can be accomplished by the lean management concept. Moreover business
process problems, such as overlapping work, redoing work, communication gaps, inflexible processes, and
obscure processes, have the possibility of being solved by lean management.
Lean management has traditionally been adopted by manufacturing industries to improve operations through
the identification and elimination of all forms of waste basically. The construction industry has also adopted this
philosophy, primarily in the field of projects. In order to increase an organization’s competitiveness and
productivity, lean management is needed in the any business process as well as in the field. The intent of this
work is to explore a method of introducing lean management which continuously improves any business
processes. The five fundamental concepts (specify value, identify the value stream, flow, pull, and perfection) of
lean management as an approach are being adapted in this project to improve quality of the processes. Hence
the main objective of this paper to apply the tool of lean and six sigma management to improve the elimination
of waste in the enterprises business process. Followed by a literature review which provides a brief summary of
lean thinking and six sigma along with challenges might face while implementing. A case study follows that
demonstrates how; Business Process Management is applied as a tool, method to constantly improve the
business process.
This document discusses key concepts in managerial accounting and cost classifications. It provides examples of activities in the value chains of manufacturing and airline companies. It also defines important terms like non-value added costs, strategic cost management, and value chains. Managerial accounting aims to provide internal managers with information to make planning, control, and improvement decisions to increase customer satisfaction and organizational performance.
This document discusses concepts related to managerial accounting and cost management. It provides examples of activities in the value chains of manufacturing and airline companies. It also defines key terms like non-value added costs, strategic cost management, and value chains. Managerial accounting is discussed as providing information to managers for planning and control decisions, while financial accounting provides information outside the organization. The document ends with multiple choice questions related to these concepts.
Empowering retention strategiesin the age of the customer
This white paper addresses:
– Why measurement programs need to change
– Six proven steps for a successful measurement program
– Using customer intelligence to predict and drive change
Life Cycle Costing Critical Evaluation ReportAnkur Aggarwal
Life Cycle Costing (LCC) is an important economic analysis used in the selection of alternatives that impact both pending and future costs. It compares initial investment options and identifies the least cost alternatives for a twenty year period.
Most sourcing organizations focus on direct procurement, potentially overlooking indirect procurement and missing key opportunities to reduce spend. As indirect purchases increasingly become a larger percentage of overall spend, for many organizations, indirect procurement can be a diamond in the rough. This article makes the arguement that the value of indirect procurement should not be overlooked.
The document discusses how organizational value can be eroded throughout the project/program management lifecycle in three stages: value exaggeration, destruction, and decay. Value exaggeration can occur early in planning when benefits are optimistically estimated or stated without detailed understanding. Value destruction happens when delivery decisions are made based on cost/schedule alone without considering benefit impacts. Value decay results from failing to properly transition benefits realization after a program's completion. To prevent value erosion, the document recommends linking benefits to organizational value maps, systematizing benefits management processes, and improving collaboration between program, business, and finance teams.
Research Assignment #4 Topic Security Management .docxronak56
The document provides instructions for a research assignment on the topic of security management. Students are asked to:
1) Find three websites related to the topic and write a one paragraph summary of each.
2) Create a Word document that synthesizes what was learned from the research sources into a coherent analysis that could be presented to an executive. The document should follow APA style guidelines.
3) Submit the Word document to the appropriate assignment area in Blackboard.
Why value propositions matter? How to create a true value proposition for B2B businesses? Implementation ready toolkit to design a superior value propositions
Companies can improve customer retention rates by addressing the root causes of customer attrition through a strategic approach. This involves applying targeted retention strategies across all customer touchpoints in a coordinated effort. The document discusses establishing a "Churn Command Center" to oversee retention efforts across the organization. It also emphasizes the importance of customer analytics to understand why customers churn and tailor retention offers, as well as testing offers across channels to maximize effectiveness and minimize risks. Leading companies see reductions in churn of 10-50% through these integrated, data-driven approaches.
The Golden Triangle of Value Creation - Paul LimPaul Lim
iForce Consulting developed a framework called the "Golden Triangle of Value Generation" which identifies three universal areas of corporate value generation: 1) Customer Management, 2) Cost Management, and 3) Cashflow Management. The paper argues that successful companies must link their market strategies to their cost base and cashflow in order to ensure long-term growth and competitive advantage. It provides examples of how different companies can manage strategies related to customers, costs, and cashflow depending on whether their business involves products or services and whether cashflow is stable or unstable. The framework is intended to help companies identify key performance indicators and initiatives to focus on the primary drivers of value.
Process improvement for General Counsel and Law FirmsGeorge Dunn
Process improvement for General Counsel and Law Firms by George Dunn, President CRE8 Independent Consultants. A Follow Up To the 26th Annual General Counsel Conference. A white paper discussion of how law firms should approach process improvement using: Continuous process improvement; Business Process Management; Re-engineering; Lean and Six Sigma process improvement methods.
T-Lessons_from_the_Trenches-_quality_digest_articleDerrell James
The document discusses six lessons that smaller companies can apply when using Lean and Six Sigma approaches to transform their business:
1. Understand your true business by analyzing customer values and processes rather than just products/services.
2. Identify friction points between staff and customers through social mapping and interviews.
3. Identify all types of waste, including in customer/supplier relationships.
4. Ensure employees understand how to think and act for customer success through tailored work instructions and reviews.
5. Use balanced metrics that drive the right behaviors to reduce variation and friction points.
6. Continuously improve processes and workforce maturity rather than claiming perfection.
Where is your corporate focus; cost cutting or value proposition? Sustainable future growth must come not only from a cost-obsession, but a value-obsession. Check out this white paper from Northpoint Advisors.
Sethurathnam Ravi: A Legacy in Finance and LeadershipAnjana Josie
Sethurathnam Ravi, also known as S Ravi, is a distinguished Chartered Accountant and former Chairman of the Bombay Stock Exchange (BSE). As the Founder and Managing Partner of Ravi Rajan & Co. LLP, he has made significant contributions to the fields of finance, banking, and corporate governance. His extensive career includes directorships in over 45 major organizations, including LIC, BHEL, and ONGC. With a passion for financial consulting and social issues, S Ravi continues to influence the industry and inspire future leaders.
Make it or Break it - Insights for achieving Product-market fit .pdfResonate Digital
This presentation was used in talks in various startup and SMB events, focusing on achieving product-market fit by prioritizing customer needs over your solution. It stresses the importance of engaging with your target audience directly. It also provides techniques for interviewing customers, leveraging Jobs To Be Done for insights, and refining product positioning and features to drive customer adoption.
Integrity in leadership builds trust by ensuring consistency between words an...Ram V Chary
Integrity in leadership builds trust by ensuring consistency between words and actions, making leaders reliable and credible. It also ensures ethical decision-making, which fosters a positive organizational culture and promotes long-term success. #RamVChary
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1. MORE FOR LESS
A pragmatic approach to
optimising operational costs in
times of radical change and
uncertainty
1
2. INTRODUCTION
As the world reels from the impact of COVID-19, businesses need to reduce
costs with great urgency. Restaurants, hotels, entertainment and transport are
the worst hit, with retail, construction and manufacturing also suffering. Almost
all other industries are likely to decline in GVA over the year, with public
administration, defence and health and social care the only sectors likely to see
significant gains over 2020.
Many organisations will find that squeezing a few FTE savings or slimming the
cost base by a few percent won’t suffice to sustain competitive relevance in
this disrupted marketplace. Bolder measures will be needed.
Still, it’s as important as ever not to overreact. Failure to understand the impact
of choices made now will squander an opportunity to add real value. It will also
risk inflicting lasting damage that will make recovery needlessly difficult, and all
amid a crisis of unknown duration.
In times of crisis, leaders often feel a need to rapidly remove costs regardless of
other considerations. However, calm, sound judgment is always highly
advantageous, and especially so now. Devising and applying a systematic
problem-solving process at pace will make it possible to harness the unusual
urgency now facing us to drive changes in an energetic, targeted way.
2
3. 3 STEPS
Informed by a robust analysis of each component of the
operating model, a holistic set of cost optimisation initiatives
can be created which shift resources away from
non-differentiating and non-value-adding areas of the
business. This provides a systematic way to optimise
operational costs.
1
ENGAGE & SET UP
● Align on the problem to be solved
● Agree measurable objectives and success criteria
2
DISCOVER & DIAGNOSE
● Create a starting hypothesis of potential cost reduction opportunities
● Define customer segments and understanding what they value
● Create a model for attributing cost and values
● Conduct a holistic analysis of the operating model
3
ITERATIVE DESIGN & IMPLEMENTATION
● Define cost improvement initiatives
● Define the value and effort for each initiative
● Establish waves to deliver value iteratively
● Realise benefits on the bottom line
3
4. ENGAGE & SET UP
Align on the problem to be solved
Understanding the specific problem to be addressed is a key first step. All efforts can
then be focused on solving it. A simple mantra of ‘cut costs’ is not enough. There
must be an explicit statement of the problem and goal.
For a viable problem statement, it’s necessary to know who has the problem, what
the problem is, where it arises, and above all why it’s worth solving from a customer
perspective. It might read like this:
“Reduce costs in <business unit/function> by x% by the end of 2020 without
sacrificing the customer experience.”
The input of a select group of internal customers as well as key customer
perspectives from across all segments makes it possible to understand the wants and
needs of the people to be impacted by the initiative. This enables the writing of a
workable problem and goal statement that will address vital stakeholder concerns.
“Reduce costs in <business
unit/function> by x% by the end of
2020 without sacrificing the customer
experience.”
4
5. ENGAGE & SET UP
Agree measurable objectives and success
criteria
Companies will need to establish holistic financial measures & reporting. By tracking
both the cost delta of individual cost reduction initiatives and absolute financial
performance metrics, correlations to bottom line and performance improvement can
be better understood.
Holistic financial measures will include cash management, headcount, operating
expenses, COGS or other metrics such as improved earnings, typically measured by
EBITDA.
5
6. DISCOVER &
DIAGNOSE
There are many levers organisations can
pull to reduce costs. Shifting spend and
resources from non-value-adding areas of
the business to value-adding ones is the
ultimate goal.
6
7. 1 Define customer segments and understanding what they
value
A solid starting point to assess the value of services, capabilities and
processes is to define value from a customer perspective. Depending on
the area of business in scope, customers are either internal or external.
Organisations should also create logical groupings of customers and
personas so that demand and service levels can be assessed in the context
of relevant segments. The wants and needs of different segments will vary,
posing a more complex analytical task but also producing more nuanced
and comprehensive solutions.
Valuable insights can be gained from gathering well-chosen Voice of the
Customer (VoC) analytics. These can include interviews, surveys, live chats,
feedback forms, responses and reviews on social media and studying the
behaviour of website visitors.
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Pragmatic cost optimisation | Discover & Diagnose
8. Create a model for attributing costs and values
A process framework will aid in creating visibility and
transparency to the distribution of cost across the
organisation.
Pragmatism will also be needed to avoid creating process
documentation that isn’t necessary for the area of analysis. More often
than not, there’s no need to reinvent the wheel. Industry reference
models can be used as guides, and existing collateral can be reused. If a
process model is already in place, focus can move directly to defining
the processes in scope for cost optimisation.
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Example process framework for a Record-to-Report value stream
Pragmatic cost optimisation | Discover & Diagnose
9. Conduct a holistic analysis of the operating model
With a clear view of customer needs and a model to attribute cost to, the
next stage is to conduct a holistic assessment of the various components
of the operating model. This will result in a clear picture of cost
optimisation opportunities across the following components : customer,
process, partner, organisation, locations & technology.
The approach to this assessment can be adapted to the context and
scope of the cost optimisation. Organisations can pull various levers to
identify cost saving opportunities in a systematic way. Different
approaches will be relevant depending on the problem that needs to be
solved.
It's good practice to apply timeboxing to analysis. Rather than carrying
out months of analysis before moving anything into delivery, analysis and
delivery should both be iterative, with a few components analysed and
moved into a hopper for delivery before beginning on others. The
iterative approach enables analysis to be adapted along the way to
lessons learned during delivery.
3
9
Technology
Customer
Process
Organisation
Locations
VAL
UE
PRO
POSI
TION
VALUE
PROPOSITION
Partners
www.hudsonandhayes.co.uk
Pragmatic cost optimisation | Discover & Diagnose
10. COST OPTIMISATION
LEVERS
A holistic assessment of the operating model will unearth a
myriad of cost optimisation opportunities. The approaches to
taking advantage of these opportunities should be considered
with a view to resolving the problem statement drawn up at the
beginning.
Technology
Customer
Process
Organisation
Locations
VAL
UE
PRO
POSI
TION
VALUE
PROPOSITION
Partners
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11. Shifting customers to
lower-cost channels
For customer-facing processes,
organisations can explore ways to shift
customers to lower-cost channels. The
average Cost to Serve (CTS) for
contact centre vs online self serve can
be five times higher. Tactics to shift
customers to lower-cost channels (e.g.
self serve) from higher-cost ones (e.g.
phone calls) can yield significant
returns.
The average Cost to Serve
(CTS) for online self serve vs
contact centre can be five
times higher.
By the end of this analysis, the
proportion of customer volumes
across each channel will be clear and
opportunities will be identified to shift
customers to lower-cost channels
through a combination of short-term
and longer-term interventions.
Releasing capacity through
failure demand reduction
Organisations will often assess capacity
needs based on a demand profile that
contains a mix of value and failure
demand.
Value demand is the kind an organisation
wants as it produces value for the
customer.
Failure demand is the kind the
organisation needs to address at its own
expense to rectify something that has
gone wrong. In a call centre this would be
customers calling in to chase responses
they had expected but not received.
By addressing the root causes of the
biggest sources of failure demand,
organisations can improve the customer
experience, release capacity and reduce
cost.
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CUSTOMER
Pragmatic cost optimisation | Discover & Diagnose
12. Unlocking process efficiency
The cost and value of the processes in
scope can be established by mapping
each one end-to-end and capturing
key process metrics such as process
time, lead time, value-add time,
re-work and waste. This will produce a
breakdown of where most of the work
is currently allocated and a clear
categorisation of each process.
This analysis can be carried out at
various levels. End-to-end process
analysis at macro level can be
followed with analysis at a lower level.
There may be processes that add
value at high levels yet in which
non-value-add activities become
apparent when the sub-processes are
assessed.
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Aligning demand and capacity
Organisations can often find
opportunities to improve efficiency by
addressing a mismatch between
demand and capacity. Typically this
begins with analysing customer
demand data, split by product
grouping and customer segments, to
quantify how effectively resources are
matched to demand. This will often
highlight mismatches which cause
inefficiency.
Often, misalignments between
resource capacity and the demand
profile result from changes in demand
over a given period of time.
Organisations can respond to this by
building their workforce planning
capability, taking measures to smooth
out demand and cross-skilling staff to
provide greater flexibility to deal with
demand variation.
PROCESS
Pragmatic cost optimisation | Discover & Diagnose
13. With deeper insight into the cost and value of each process,
companies can think holistically about how their processes can be
improved to contribute to cost optimisation efforts. Multiple
approaches should be considered. This avoids piecemeal solutions or
jumping to expensive technology solutions when simpler process
re-engineering efforts will suffice.
SIMPLIFY/ELIMINATE
Eliminate processes or activities that
are deemed non-value-add or which
don’t add value from a customer
perspective. This also includes the
elimination of waste and rework within
a process.
DIGITISE
Make use of digital tools to create
digital customer journeys or remove
manual tasks from a process.
Digitisation can unlock opportunities
to automate processes.
OUTSOURCE
Transition work to a low-cost location.
Organisations should question whether
proximity to a centralised location is
important. This approach usually works
better for transactional processes
rather than customer-facing processes
or those of high complexity.
AUTOMATE
Replace human effort with an
automated system. Organisations
can leverage emerging technologies
such as robotic process automation
(RPA), intelligent process automation
(IPA) and machine learning. These
technologies work best for processes
that involve aggregating data from
multiple systems
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PROCESS
Simplify
OutsourceAutomate
Automate
Pragmatic cost optimisation | Discover & Diagnose
14. 3. Conduct spend analysis
Two types of analysis can unearth cost
optimisation opportunities: Category
spend analysis and contract spend
analysis. The following questions will
support the identification of
improvements:
Category spend analysis
- Are there opportunities to
consolidate suppliers that provide
similar goods and services?
- Are there spend leakage issues e.g.
purchasing from non-preferred
suppliers or maverick spend?
Contract spend analysis
- Are partners/suppliers complying
with existing negotiated contract
terms?
- Is there spend leakage through
non-compliant contracts?
Reducing cash left on the table in partner contracts
The current economic situation may serve as a great
opportunity to renegotiate key supplier contracts. Also,
whether renegotiated or not, deep analysis of spend and
existing contracts can unearth cost saving opportunities
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PARTNERS
Pragmatic cost optimisation | Discover & Diagnose
1. Identify partners & contracts in
scope
Companies can use the process
framework to identify partners and
contracts in scope for analysis.
2. Create common spend
categories
Common spend categories can then
be grouped to understand
suppliers/partners that provide similar
goods and services.
15. Rationalising the application portfolio
By examining the application portfolio, opportunities to reduce
the total cost of ownership (TCO) can be discovered.
Rationalising the portfolio can also involve specifically selecting applications
based solely on their positive effects, typically judged by continuously monitoring
their value. This entails identifying a specific owner for each one, bringing
attention and responsibility to the cost which users are unlikely to pay attention
to.
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TECHNOLOGY
Pragmatic cost optimisation | Discover & Diagnose
1.
Optimise the use
of software
licences
2.
Optimise server
use & data
storage
3.
Retire low-value
applications
Typical approaches to rationalising the application portfolio
16. ORGANISATION
Simplifying legacy organisational structures
Reviewing and assessing the organisational model can reveal opportunities to
simplify it. Often, legacy structures limit collaboration and create silos, resulting in
duplication of effort and non-value-add activity. Companies should go beyond just
moving lines and boxes, ensuring any organisation design decisions are made in
the context of longer-term vision and strategy.
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Pragmatic cost optimisation | Discover & Diagnose
BUSINESS
UNIT
BUSINESS
UNIT
BUSINESS
UNIT
Function Function Function
Function
Function
Function Function
Function
FunctionFunction
Function
Function
Centralisation
Centralising support
functions under a shared
services model saving
costs through economies
of scale and direct labour
cost reduction
BUSINESS
UNIT
BUSINESS
UNIT
BUSINESS
UNIT
Function
Shared Service Function
Function Function
Function
Function
Function Function
FunctionFunction
Decentralised Centralised
Delayering
Removing layers of
hierarchy between
the highest and
lowest levels
Spans of control
Expanding managers’
span of control
Organisational design options to reduce costs
17. LOCATIONS
Unlocking efficiency through better working locations
Cost optimisation opportunities may be found by
cataloguing locations and mapping office layouts in order to
identify wasted space and unnecessary spend.
This can reveal options for reducing the amount of space allocated to each
person in existing locations or more radical shifts to promoting working at
home or working in much lower-cost locations. Flexibility in working locations
can also bypass the consideration of where talent is located.
Working from home is especially relevant in the current COVID-19 crisis, as it
has effectively been forced upon millions of employees. Organisations may
find their assessment of the value of office locations permanently altered
when government measures are lifted, as companies which choose not to
return all staff to offices stand to benefit from lower overhead costs, which
may be reflected in better value for customers.
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Pragmatic cost optimisation | Discover & Diagnose
18. ITERATIVE DESIGN &
IMPLEMENTATION
With a holistic analysis in place, the optimisation
opportunities it has helped identify can be chunked into
initiatives to be delivered.
Each will be delivered iteratively over the short, medium or
long-term. Organisations may consider using an initiative
‘hopper’ and Kanban to enable leaders to make priority
decisions and limit the number of initiatives in flight.
1
8
19. Define the value and effort for each cost optimisation initiative
An explicit business case should be developed for each initiative with its
benefits, costs and measures for ease of implementation all specified.
The business cases will facilitate choosing and prioritising the right initiatives for
delivering the needed solutions and maximising the benefits they bring.
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VALUE VS EFFORT
Ensuring benefits are felt on the bottom line
It is imperative for organisations to put processes in place to ensure that cost-saving
benefits are realised. This is especially true when the benefits sought relate to
productivity savings rather than direct cost savings.
For example, decommissioning application licences will deliver immediate and
obvious cost benefits, while productivity savings pose a range of options to consider
and compare to ensure that the improvement definitely reaches the bottom line.
Outsourcing can actually increase overall costs unless accompanied by efficient
redeployment of the resources originally used. Similarly, automation of activities will
only optimise costs if the resources freed up are employed well elsewhere.
Pragmatic cost optimisation | Iterative design & implementation
20. Companies can achieve a continuous flow of cost optimisation
by establishing increments/waves
Organisations should set up cadence and iterations for delivery to establish
commitment and regularity over time. This establishes a clear schedule for
delivering cost optimisation initiatives, realising their benefits at each iteration
and enabling agility. Quarterly wave delivery is often a sensible cadence with
fortnightly sprints used to maintain momentum.
Wave delivery also provides a structured approach for the change management
activities needed to land each solution or change, e.g. training or communication.
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ITERATIVE DELIVERY
Hudson&Hayes sustainable operational excellence framework can be adapted
to support a continuous flow of cost optimisation
Pragmatic cost optimisation | Iterative design & implementation
21. MAKING IT STICK
Conclusion
Systematic cost optimisation can be highly advantageous
during normal circumstances. In the current crisis, it may be
an outright necessity. If done with the right approach, it can
turn that necessity into an opportunity.
To make cost optimisations stick, organisations must go
beyond the delivery of cost optimisation initiatives as part of
a programme or project. Improvements should be continuous
and, more importantly, a strong cost culture must be
deployed to ensure sustainable change.
To that end, cost ownership, accountability and a culture of
continuous improvement that empowers employees to
identify and implement new cost reduction initiatives will
lead to strong EBITDA improvement and increased
competitive advantage.
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1
22. Authors
ARRON CLARKE
Principal Consultant
Hudson&Hayes
Hudson&Hayes is a transformation and operational excellence
consultancy providing a broad range of services and solutions
from strategy to execution.
With top transformation talent and a unique and integrated
approach to Operational Excellence, Hudson&Hayes helps
organisations deliver on their strategy, unlock efficiency and
enable continuous improvement.
www.hudsonandhayes.co.uk
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2
Contribution
GARETH STONE
Digital Content & Partnerships Manager