| It is important for businesses to manage the | | | | that consistently delivers high value and customer |
| process of cost reduction well in any change | | | | satisfaction. |
| management strategy to ensure that they do not | | | | They must establish a culture of continuous |
| unwittingly compromise their product quality or | | | | improvement that seeks to remove bottlenecks, |
| service standards. | | | | eliminate sources of waste and customer |
| Cost-cutting is a short-term strategy. It is far | | | | dissatisfaction, and become efficient and effective. |
| more important that companies take a long-term | | | | There must be a focus on decreasing sales cycle |
| view to build and strengthen their organization and | | | | time, quickly transforming knowledge and |
| its capabilities now, positioning themselves for the | | | | delighting the customer - these help the enterprise |
| eventual economic recovery. | | | | to maintain its competitive edge. |
| Throughout the years businesses have put in | | | | Management must also be quick to detect |
| much effort to win customers to be where they | | | | changing customer preferences, be aware of the |
| are today. Research have shown that it costs up | | | | changing competitive environment, leverage on |
| to six times more money to acquire a new | | | | advances in technology & IT, seize opportunities |
| customers than to keep an existing one. In a | | | | and implement new solutions rapidly. Product and |
| sluggish economy, it would probably be more | | | | service standards have to stretch from the top |
| expensive to win a new account. | | | | to the bottom of the organization and need cut |
| Businesses must have an unrelenting focus on | | | | across all departmental lines. |
| delivering the best customer experience. There | | | | The organization's own learning and development |
| must be a line of sight from the top to the | | | | process must be structured, systematic and |
| bottom of the organization. Take care of that and | | | | focused on building on its strengths. Critical |
| you will enjoy customer loyalty - and revenues | | | | systems that supports training, recognition, career |
| and profitability will follow. | | | | advancement and information access need to be |
| Most companies find that 20 percent of their | | | | in place. Organizations can reorganize, downsize |
| customers contribute over 80 percent of their | | | | and streamline their way to efficiency. These |
| revenue. Thus, high levels of repeat customers will | | | | approaches are necessary but often not sufficient |
| lead to higher levels of profit. To achieve that | | | | to quickly move organizations into |
| companies must be always be vigilant about the | | | | high-performance mode because they ignore one |
| changing requirements of their customers, | | | | necessary component of performance - engaging |
| understand their business models and the markets | | | | employees in their work. To mobilize the entire |
| they operate in, know what their customer want | | | | organization, leaders need to request for |
| and deliver these to help their customers business | | | | employees input and their involvement, especially |
| succeed. | | | | in areas that need improvement. Every worker |
| To achieve business excellence, everyone in the | | | | must be trained andequipped to go from 'good to |
| organization needs to concentrate on delivering | | | | excellent" in the business change management |
| customer satisfaction by taking personal | | | | processes. |
| responsibility for improving processes and be | | | | For companies to be successful in their business |
| empowered to make changes. | | | | change management, they need to be responsive |
| Departments need to become self-managed | | | | to their customer's needs at every step of the |
| teams; cross-functional teams are needed at the | | | | business processes involving every function, |
| company level; and more efficient for | | | | employee and leader. Anything short of a total |
| decision-making and response. When the company | | | | approach is unlikely to deliver the desired results. |
| discovers a problem or a chance for | | | | Organizational transformation is a long-term |
| improvement outside, they must collaborate | | | | process requiring a fundamental change in |
| quickly to find the solution. | | | | management practices and culture - a paradigm |
| For that to happen and for that change | | | | shift. |
| management processes to be successful and | | | | Finally, the organizational direction that advocates |
| sustainable, a holistically integrated approach to | | | | the strategic intent has to be clear about the |
| business excellence, which engages all parts and | | | | objectives that needed to be achieved, the type |
| elements of the organization and its leadership is | | | | of values and capabilities that are needed and how |
| required.Executives must lead the business change | | | | all this is going to be implemented for effective |
| management activities, from thinking about | | | | change management to occur. |
| productivity and quality to create an organization | | | | |