Business improvement is the process of measuring, changing and measuring again to improve the revenue, efficiency and reputation of a firm. The following are basic types of business improvement.
Improvements to the leadership capabilities and controls of a firm. This can include approaches such as management training, improvements to strategic planning processes and internal controls such as budget approvals.Processes are repeated patterns of work that can be formalized and optimized to achieve efficiency, reduce risk and improve quality. An organization may devote most of its resources to operational processes such that minor improvements can yield material results.
Improving the quality of products, services, processes and practices.
MarketingIncreasing revenue by improving products, pricing, promotion, distribution and customer experience.Capital investments to increase capacity, drive efficiency, reduce risks or raise quality.
Automation that increases efficiency and tools that improve productivity or customer experience.Organizational culture is the set of norms, expectations and symbols that emerge in an organization as a result of the shared experiences of teams. The process of improving organizational culture is primarily a leadership function with controls such as performance management playing a role.
NotesImprovement implies a gradual but continuous rate of change. This can be compared with more aggressive programs of change such as innovation or business transformation.
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