In increasingly competitive markets, how do you use a process of continuous improvement to stay ahead of the field?
We’ve all heard of the survival of the fittest in the natural world; it’s an undeniable truth, that those who adapt, thrive.
Acknowledged less regularly, however, is that in business, the same rules apply.
All too often organisations are so focussed on the day to day “noise”. This means they don’t find time to come up for air and evaluate what is actually going on around them.
To maintain your competitive advantage, you must always look at channels for progressing your business process and operation.
That way, you can maintain all forward momentum whilst retaining the capacity to pivot when a new, lucrative approach or opportunity arises.
Step in… continuous improvement.
The Importance Of Continuous Improvement
Think about it, how many businesses succumb to their competition because they fail to adapt?
Over the last few years, a lack of evolution has led directly to the crippling and closure of a number household names.
Netflix ousted Blockbuster, Blackberry fell foul of the iPhone and Kodak were left in the dust by the rise of digital photography.
But what do they all have in common? They failed to adapt.
If they had instead adopted a philosophy of continuous improvement, rather than stick resolutely to their guns, they wouldn’t have been caught flatfooted whilst those around them grabbed new opportunities with both hands.
Why Does This Matter To Me?
Now you may be thinking that your business is not like theirs, or that there are no changes occurring in our industry that we could take advantage of.
You’d be wrong.
Continuous improvement will always be relevant to each and every business for the simple reason that if you are not moving forward and constantly evolving, you are falling behind your competition.
Masaaki Imai, pioneer of the “Kaizen” methodology at Toyota said…
“not a day should go by without some kind of improvement being made somewhere in the company”.Masaaki Imai
Now be honest, does your business do this?
Since the inception of the process at Toyota, companies the world over, including those that populate your sector, have strived to adopt “kaizen” as an integral part of their business identity.
So what can you do to follow suit?
How Can I Adapt?
Track, review, improve, repeat. It’s as simple as that.
Constant, iterative improvements are essential, no matter how small or large your organisation. Making these changes will allow you to stay ahead of the game and ensure you become the market leader.
Through evaluation of current processes, you can identify areas for optimisation, streamline your operations and make smarter decisions.
Similarly, understanding consumer trends before they “land” in your sector will help you stay ahead of the curve and put you in prime position to take immediate advantage.
Think manufacturers turning to more sustainable methods as customers become more environmentally conscious.
Closer to home, consider the following…
What an increase in productivity would mean to you?
How could you evolve your business if you had access to live data at your fingertips?
Why would automating menial tasks lead to happier customers and more attentive staff?
Continuous improvement is a critical string to the bow of your organisation’s future prosperity, embrace the change!
Intrigued to learn more? Check out our Insights Hub to keep your business at the cutting edge.
January 29th, 2021-