Skip to main content
Question
business
Asked a question last year

How do companies effectively deal to enhance business management?

Where am I?

In StartupTalky you can ask and answer questions and share your experience with others!

. Reduce costs

When processes are efficient they take less time to execute, can have fewer steps, and can make wasteful activities more obvious and therefore easier to eliminate.

Making a process efficient will reduce the cost of running the process itself and will likely reduce the cost of quality. For example, take a process to convert a customer quote into an order. If you have high-priced salespeople re-entering orders into your systems, you have an expensive, revenue-generating person performing a task that can be done by someone with less knowledge of the sale itself. 

Improve customer experience and revenue

Effective processes on the revenue side of the business — sales, marketing, R&D, etc. — drive sales success and improve pricing accuracy and product development. Structured processes mean you can measure customers throughout their lifecycle and create a consistently excellent customer experience that the salespeople can use to sell and retain customers. 

Reduce risk

Consistent processes make for repeatable results. Repeatable results mean less operating risk.

An example of this is a manufacturer’s quality control process. A repeatable, predictable quality control process will have the same probability of defining defects in every shift, all the time. A process that varies from shift to shift or person to person will sometimes result in finding lots of defects and sometimes finding very few, increasing cost of quality and making it difficult to find the root cause of problems.

 

Related Questions

Question Stats

111 views
0 followers
Asked a question last year
Views this month