7 important beneficial reasons for investing in organizational excellence
Organizations that are fully sensitized to the direct relationship between excellence in organizational management and the application of business-critical metrics for monitoring and supporting long term growth, are more likely to prosper than their counterparts. Here are seven of several reasons from our perspective for investing in organizational excellence:
Sustained Customer Satisfaction & Retention - customer satisfaction is an integral part of organizational objectives. In fact, excellence in customer service and satisfaction is the gateway for achieving high customer retention levels. Subscribing to and investing in the tenets of organizational excellence is fundamental to customer service excellence, opportunities for increased sales and sustained revenue flows.
Uniformity of function and best management practices - fundamental to, and an integral aspect of the organizational excellence practice is the definition of performance standards and adherence to tested processes for the purpose of attaining maximum organizational results. By investing in organizational excellence, opportunities for attaining and functioning in a highly aligned, value-added, process rich environment are significantly enhanced.
Emergence of Highly Skilled and Knowledgeable Workforce - continuous learning and the building of a learning organization is an indispensable element of organizational excellence, that naturally gives rise to the emergence of a highly innovative workforce. In fact, the capacity to "learn and implement early" is a significant benefit derived from investing in organizational excellence. Notably as well, ongoing research confirms that in an environment of learning and exchange of insights, staff motivation and retention levels are high and organizational growth is realized at a more rapid rate.
Structured Framework for Effectively Monitoring for Improvement - a key discipline and practice area of organizational excellence is monitoring and evaluation. Without periodic assessments major issues can materialize and compromise the functional efficiency of an organization. By investing in organizational excellence, early detection of deficiency gaps and the taking of timely corrective action is realized. As well, reduced concentration on organizational challenges naturally materializes giving way to increased opportunities to commit more time to planning and production.
Reduction in Operations Cost and improved Resource Management - Reduced cost of operations and consequent opportunity to invest operations dollars into reserves and development is an indisputable benefit of investing in organizational excellence. By investing in organizational excellence, resources are better utilized, less waste occurs and profit margins improve.
Capacity to compete globally - Ongoing negotiations and the creation of trade agreements has opened opportunities for companies across a myriad of sectors to trade globally. Investing in and positioning as an organization of excellence, evidenced by quality products and services, is vital to taking advantage of and optimizing such agreements.
Higher Survival Rate - Developing the capacity to manage economic and other business shocks and cycles is vital to the long-term viability of an organization. By investing in organizational excellence, protective mechanisms naturally emerge as a gateway and platform for resilience.