ThoughtOperational effectiveness: “Any kind of practice which allows a business or other organization to maximize the use of their inputs by developing products at a faster pace than competitors or reducing defects, for example. Operational effectiveness is often divided into four components: Leading and controlling functional performance, measuring and improving the process, leveraging and automating process and continuously improving performance.” – Business Dictionary (http://www.businessdictionary.com/definition/operational-effectiveness.html) |
Topic: Operational Effectiveness and Your Small Business
What does operational effectiveness have to do with your small Company? When we think about operational effectiveness, we may assume this only applies to larger Corporations: those that have hundreds or thousands of employees. Yet, there are some fundamentals that smaller Companies can – and should consider – in order to build a strong, sustainable Company that will better position them for whatever comes next: whether it is growth, maintenance, change, a sale and/or merger.
Small Companies need to think about creating processes that position them to build that operational effectiveness so they can do the things they want to position themselves to do. Fundamentals like:
- Establishing the ability to quickly and easily find information that is needed to run the Company
- Having clarity around what tasks are most critical for success
- Communicating information consistently and clearly – both internally and externally, especially for the Company’s Prospects and Customers and those that support them
- Creating what we call “repeatable processes”
- Minimizing errors and improving the quality of the Company’s products or services
- Implementing methods to monitor day-to-day tasks
Those fundamentals are needed for any Company whether they have thousands of employees or they only have four. However, establishing those fundamentals can be challenging. Leaders of any size Company typically know there are issues that should be addressed, yet for various reasons they do not take the first steps to address those challenges. Why?
- A belief they don’t have the time
- The concern there is not the financial resources and/or the willingness to utilize Staff and/or hire additional Staff, and/or utilize Consultants or other Resources
- Unsure how to even begin
- Unclear what is needed and/or the value of it
This is why My COO Resources was created. It is as an alternative, affordable solution to help Companies begin to build that operational effectiveness. And it is self-paced with a do-it-yourself approach. Yet, it provides a structure to first identify a Company’s biggest operational issues and then prioritizes the solutions to resolve them.
My COO Resources can help your Company begin to build operational effectiveness within your Company. Try us at www.mycooresources.com. Questions? Contact us at Newsletters@mycooresources.com to schedule a time to discuss how we can assist you.
Read our blogs on our My COO Resources website as we provide helpful hints related to creating operational effectiveness within your Company.
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