These days, a fast-paced business environment requires prompt strategy adjustment and continuous process improvement as critical elements of business operations. Process improvement refers to optimizing existing business processes to meet market standards, improve customer service, provide better operational efficiency, and stay ahead of the competition.
Businesses like barbershops often face stiff competition, as people must groom at the end of the day. Regardless of the nature of the business, every venture follows a set of activities to meet an objective. Other than increasing efficiency, process improvement assists in maintaining order and consistency. As industry technology changes, an existing process may become unwieldy or obsolete. Process improvement, like updating software or automating product packaging, updates the set of activities to ensure optimized performance. Outdated and ineffective processes result in dissatisfied clients, increased costs, missed deadlines or appointments, stressed employees, and duplicated activities. Adherence to process improvement helps boost morale, promotes talent retention, and enhances customer satisfaction.
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AuthorEdward Granaghan of Cream Ridge, NJ - 25 Years of Financial Experience. Archives
November 2021
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