Skip to main content

Business Excellence

 Business Excellence


As the term suggests, it is the principle upon which any business can be placed on a paradigm shift towards, optimized utilization of all available resources to deliver excellent results for the stakeholders.

And as the study & analysis of every aspect of the business is carried out, the quality of services driven by the refined systems in practice may lay a very strong foundation for the business to not only remain profitable but to grow & get better in competition.

Fundamentals of every business are always glaringly conveying the need of the hour. Today there are hardly few business that are having any monopoly, yet we see & experience the some businesses are still able to enjoy & maintain status like monopoly, that is lead the market share by large. 

And we may need to ask ourselves why & how?

Here we have option to study & understand what are all the right things being done by rest of the competitors in the market & we try to get even or better with the same, that is by deploying Business Excellence or we go into the process of reinventing the wheel, whereby we keep doing what we know is best for us & with time & our own experience we sustain or grow.

Avoiding reinventing the Wheel:
A) Every business or product that are on top of their competitions needs to be studied critically. 
B) Holistic SWOT (Strengths, Weakness, Opportunities & Threats) of that very market leader in the segment can help outline the basics of meeting them with their own KSPs.
C) If any brand is having multiple product portfolio, then they can even carry out SWOT on every product.
D) Again the same SWOT can be very different for every given product in different regions.
E) To begin with working on the most cost effective & quick aspects of these analysis can bring about the necessary changes in the numbers.
F) Our own KSPs, based on our own SWOT must not be ignored in trying to meet or beat the competitions.
G) Short term goals & long term objectives must remain aligned in order to sustain the change & improvements in business strategies.
H) Do's & Don'ts at the level of brainstorming & conceptualizing must be made clear, so that a structured road map can be prepared.
I) Implementation & review dates must be agreed on every targets that are concluded & being followed.
J) If need be course corrections on short term goals may have to be made & they must be taken at face value.
K) Never forget that no matter whatever selling price is set & offered, if the quality of the product or services are not excellent, business may remain as usual.

Remembering the popular saying, Everything is fair in Business & War.

Comments

Post a Comment

Popular posts from this blog

5 S Implementation Guide

  5S: The Discipline That Transformed Industries At Lean Advantage, we've seen firsthand how 5S doesn't just clean workspaces it clears mental clutter,  sharpens decision-making, and builds team confidence. This isn't just a system; it's a mindset that becomes a  force multiplier for operational excellence. Imagine walking into a factory where every tool has its place, machines hum in harmony, workers move with  ease, and not a single minute is wasted searching, shifting, or sorting. Now, contrast that with a workspace  where tools are misplaced, spills are ignored, files are buried under clutter, and morale drips as fast as  productivity.  The difference, Just five simple yet mighty steps-Sort, Set in Order, Shine, Standardize, and  Sustain.  Together, they form the legendary methodology we call 5S. Developed in post-war Japan, 5S became the secret sauce behind Toyota's meteoric rise in quality,  efficiency, and global competitiveness. ...
Post a Comment
Read more

Business Outlook 2025, Nigeria

Business Outlook 2025, Nigeria  1. Economic Landscape Nigeria, Africa’s largest economy, boasts a GDP of over $480 billion as of 2024, making it the economic powerhouse of the continent. With an annual average GDP growth of around 3.2% post-pandemic, Nigeria has been regaining momentum. The economy is driven by a mix of oil exports, agriculture, fintech, telecommunications, and services. The non-oil sector currently contributes over 90% to GDP growth, indicating a healthy diversification. Despite challenges like inflation (hovering around 28% in early 2025) and a fluctuating naira, the country’s economic resilience and structural reforms (like the removal of fuel subsidies and FX unification) are positioning it for long-term growth. The Nigeria Sovereign Investment Authority (NSIA) is increasingly investing in infrastructure, agriculture, and healthcare — sectors ripe for foreign investment. 2. Demographics and Market Potential With a population exceeding 223 million, Nigeria is th...
Post a Comment
Read more

Happy Valentines Day, 2024

  Human beings are more complex in the nature than they seems to be with their biological structure. The basic nature is seeking to be loved. But given the conditioning we mostly seek half understood love, that is attention, appreciation, acknowledgement, applauds and so on. Our every action is derived out of seeking these love, we want to be loved as we are with what we do and that which we cannot do. We seek fatherly love whereby we don't expect someone to correct us before hand, but yet expect that he should keep watching our back. We seek motherly love whereby we don't want to be reminded on anything that we may have taken it for granted, yet expect that she should be around us taking care for our every needs. We seek love of siblings, whereby we see a friend in whom we can confine and can share all of our secrets without fear of being betrayed. And than we seek love from our spouse. This is very different from the love that we seek from our blood relatives. Along the line ...
Post a Comment
Read more