A company that is dealing with decreasing revenues and increasing budget constraints should definitely invest in continuous progress efforts or business process reengineering efforts. Although there ar some(a) sign start up costs involved with both of these initiatives, the results are worth the investment.
Continuous improvement programs (CIPs) are conscious efforts to perpetually improve products, services, and processes (Robson, 1991). These improvements are normally incremental in nature, exclusively overhauls that lead to increased readiness are never discouraged. wizard form of continuous improvement that has garnered a lot of solicitude is Kaizen. Kaizen has been demonstrated to be effective at increasing efficiency and trim costs across a variety of firms; including Seattle Childrens Hospital and Toyota (Weed, 2010). In the case of Seattle Childrens Hospital, the implementation of the continuous improvement initiative saved the hospital $180,000,000 (Weed, 2010). The program has been so successful that many other hospitals having been attempting to implement continuous improvement programs of their own to reap such benefits.
Business process reengineering efforts shake up also been proved to be successful in reducing company costs and increasing revenues. One such business process reengineering effort is benchmarking. Benchmarking is comparing a companys performance metrics and various processes to industry leaders. This process has proven extremely effective for a variety of companies, including AT&T, ALCOA and waste (Boxwell, 1994). Like continuous improvement programs, there are some intiail start-up costs involved. These costs, however, are quickly offset from gains in productiveness and efficiency.
Both continuous improvement efforts and business process reingeneering efforts...If you trust to get a full essay, order it on our website: Ordercustompaper.com
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