I had breakfast yesterday with one smart dude (thanks, Guillermo). We had an invigorating conversation regarding the potential we have to transform how business operates. More importantly, we walked through a proven prescription for yielding tremendous customer and shareholder value. That sounds a bit lofty, but I believe the step-change opportunity before us is that profound.
To illustrate ?
There is unambiguous research which highlights the fact that business success, or the absence thereof, is more often a function of execution against strategy than it is a function of the strategy itself. While strategy is clearly important, the bigger challenge typically lies in strategy realization. Pragmatic examination of most businesses illuminates overly-complex operations which destroy value.
Our assertion is that process is the means by which the business translates business strategy into customer value ? said another way, process is the embodiment of the customer value chain. Unfortunately, the ?Pachinko Machine? of most business operations produces yield loss at countless touch-points along the way.
Linking the notions framed above, the power of effective process management carries the opportunity to dramatically increase value yield against strategic opportunity.
Our Point of View is that improved process management ? automated and otherwise ? is the most powerful lever for business leadership to pull when asking the question, ?Why is all of this hard work not producing the results we need??
Thoughtful examination of any organization quickly reinforces that nearly every facet of the business is a process:
- Marketing, from segmentation to lead generation, is a process;
- Sales management, from coverage to funnel management to closing, is a process;
- Customer on-boarding throughout all of its components is a process; and
- Even the means by which an organization responds to unplanned interrupt events ? such as outages or product recalls ? is (or should be) a process.
Over the next series of weekly blogs we will break down the components involved with realizing the opportunity before us to generate value through process management.