The 4 P's Driving Operational Excellence and Strategy Execution: People, Process, Performance and Profits
Every revenue generating business and organization across the globe wants to be better than their competitors. They want to have a better product, they want to produce better results, and they want to their customers to remain loyal while they generate sustainable and ever increasing profits.
In order to accomplish this, they must strive for operational excellence to lay a solid foundation that will enable the execution of their desired strategy.
Operational excellence acts as the center-point for the four P’s required for successful strategy execution.
The first P is People.
People can make or break your ability to execute on your strategy. Without INTENTIONAL organizational change management and proper collaborative development efforts, organizations continue to fail at implementing new strategic initiatives. Out-of-touch business leaders that continue to push down directives that fall on deaf ears or land at the feet of those who do not desire to walk forward the effort, risk their reputation and their company’s position in the marketplace. The people in your organization that are responsible for the successful execution of the strategy must also adhere to and be accountable to the established individual performance goals that align with those outcomes.
The next P is Process.
Everything is a process. Whether you are onboarding a new customer, developing a plan for execution, or defining standard operating practices and procedures. All processes should be continuously reviewed and improved in order to realize and sustain operational excellence.
The third P is Performance.
As a six sigma black belt in process engineering and an agent for positive change, I live and breathe the need for well constructed, manageable and measurable processes to achieve operational excellence. Managing the performance of the processes, and continuously assessing the opportunities for improvement are what drives the ability to achieve and sustain operational excellence. This focus enhances the potential for successful strategy execution. It also keeps your customer’s happy when you produce consistent and quality results that exceed their expectations.
The fourth and final P is Profits.
Profitability is the heartbeat and the lifeblood of every business. Without profitability the company dies and along with it, the hopes and dreams of its employees and its customers. Satisfied customers want the businesses they frequent to be there when they need them. They don’t want to deal with fly by night organizations that can’t deliver on the promises they make to their customers.
Organizations with unhappy people, bad processes and poor performance cannot deliver a sustainable and profitable business strategy. If your organization is struggling with successful strategy development and execution then you must make sure you are incorporating the four P’s into your management and measurement plan. Assuming that you do not need to get buy-in from your own people for the ongoing operational improvements and the desired strategy for execution will be your first mistake. And in today’s competitive job market, it could be the last mistake you make at that organization.
If you want to know more about how to build a plan for strategy execution that relies on a solid operational process model... Let’s chat!