Irrespective of size, sector, or type, the adoption and implementation of standards are crucial for the success of any organization. In effect, they are central to managing and mitigating varying forms of risk, while ensuring the highest quality of products and services are designed and delivered to consumers.
Simply put, organizations achieve excellence through the implementation, monitoring, and management of standards, while simultaneously ensuring they perform at their best and stay ahead of their competitors.
Notably, standards also play a significant role in generating very tangible social and economic benefits. Think about it, in the absence of mandatory standards in food processing, travel, and medical services, just to highlight a few, consequential negative effects across individual, national, and trading levels would be realized.
4 Benefits Standards naturally amplify for organizations
1. Improved Management and Efficiency
Standards play a pivotal role in helping management achieve organizational-wide efficiency. As the bedrock for defining best practices and structuring process guidelines, they serve to enable consistency in operational excellence and the instigation of early corrective actions. By committing to a dynamic standards management framework, organizations are better positioned to shape their operations for high performance and sustained strategic growth.
2. Enhanced Product/Service Consistency
Without well-refined standards, the consistent production of high-quality products and services will naturally be compromised. This is especially important for managing outputs across diverse teams and locations. Standards in this respect serve as an indispensable framework for guaranteeing consistent customer experiences while defining the corporate character of the organization and its capacity to secure an enviable position in the market.
3. Improved Market Valuations
Naturally, the valuation of an organization subscribing to a refined set of standards and procedural guidelines is likely to be much higher than one not given to doing so, This differentiator is a key definer for managing cost, determining price, and driving ultimate profitability. Notable as well is the attractiveness of a standards-based organization in attracting higher levels of investment at competitive rates.
Like other assets, every organization should aspire to own a wide range of standards, and with determined intent manage them as valuable essential tools. Every key area should be the subject of guidance by a set of tested evidence-based standards. The lack of resources to research and develop them should not be an excuse in an environment where well-researched standards developed by specialist standards bodies are readily available for adoption and customization.
Smart work, reinforced with an unswerving commitment to a dynamic set of organizational standards, cancels out mediocrity while simultaneously emboldening efficiency