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Understanding the Importance of Business Process Design

Strategy Driven

The process is more strongly associated with the development of cost-effective approaches that can ideally be implemented for the perfect execution of various tasks involved in a business. It provides accurate information with comprehensive decision rules. ? Instead, the written documented data provides more authentic information. ?

Process 66
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6 Silent Productivity and Profitability Pitfalls, part 6 of 7

Strategy Driven

But for this to truly be the case, innovation should not be something that happens every once in a while; it should be viewed as a critical competence – a skill to be developed, fostered, rewarded, and embedded into the workforce. In the new business world, innovation should not be restricted to product development.

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6 Silent Productivity and Profitability Pitfalls, part 1 of 7

Strategy Driven

To keep his workers thinking and engaged, Ohno developed a new way for them to think about waste – where ‘waste’ is not a thing but an assessment or an interpretation. They create value not by making things but by designing what gets made, determining markets for products, and generating consistent customer satisfaction.

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Why Your Customers Hate You and How to Fix It

Skip Prichard

Bringing a new prescription drug to market, for example, now costs nearly $2.6 Even a simpler product like the SpinBrush, which entered the market priced at $5 each, required an upfront investment of $1.5 As a result, Fitbit held 68 percent market share through 2013 versus 19 percent for Jawbone and just 10 percent for Nike.

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It's Time to Rethink Continuous Improvement

Harvard Business Review

Six Sigma , Kaizen , Lean , and other variations on continuous improvement can be hazardous to your organization's health. Similarly, Japan's automobile industry has been plagued by a series of embarrassing quality problems and recalls, and has lost market share to companies from South Korea and even (gasp!) the United States.

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A Technique to Bridge the Gap Between Marketing and IT

Harvard Business Review

Here''s a familiar story: Marketing conducts research (" Big Data "! This classic breakdown between marketing and IT is being bridged at a few leading companies such as ING , the Netherlands bank. The financial crisis changed the market conditions for banks and also people''s attitudes towards banks. Analytics "!)

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Put HR Skills on Your Performance Improvement Team

Harvard Business Review

My team would have people with deep functional knowledge and skills (strategy, sales, marketing, finance, and information technology) to align surrounding processes. If you do Six Sigma in isolation, the work force doesn't have time to implement the changes.".