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why do business implement formal business improvement process,”When improvement experts are fully supported by senior management and trained in the use of proven improvement processes, methodologies/tools
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Read morebusiness improvement tools,”Process Maps/Value Stream Maps – used to depict and describe a processControl Charts – used to measure whether a process is in control (allows modest variation around a defined performance target)Defect Rates – used to determine the number deviations from expected performance (customer specifications) for a given process for a given number of opportunitiesSigma Level – deviations per opportunity (DPO) or per million opportunities (DPMO)
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Read more4 processes of innovation management system
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Read morewhat does formal business improvement process address?
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Read more6 types of risks,”Operational Risks (technology, process, org.)Financial Risks (profitability, funding, liquidity)Strategic Risks (general, supply chain, projects) Market Risks (macroeconomic, market development)Geopolitical Risks (sociopolitical, legal, infrastructure)Catastrophic Risks (environmental, manmade
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Read morenew strategy development
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Read morethree core elements of business improvement process
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Read moreten principles of risk management,”Risk Management starts at topRisk cannot be managed from an ivory towerAvoid relying on black boxesRisk management is strategy, and strategy is risk mgmt.Risk management is more than policy, it is cultureA risk aware culture requires a free-flow of informationWhat matters is the “”talk””, not the “”report””The path is the goalIt is possible to prepare for unknown risksAvoid the downside
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Read moresenior leadership elements
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