Key elements of business include process, people and purpose. Improving processes would include the following:
1) Define the process – assess the current state of the process. Map out the process asking, “how are we doing it now?”
2) Measure key elements of the process such as time, resources, etc. to identify inefficiencies.
3) Analyze the process for insights beyond financial. Use visualization tools such as, cause and effect (fishbone diagram), use the “five whys” technique to determine the root cause.
4) Improve the process - this requires problem-solving, negotiation, critical thinking and critical judgment. Many times, problems can be solved by acquiring resources whether to make a small change or major overhaul. This can include change at the people level or utilizing technology like software.
5) Control – how do you manage the process going forward while allowing the flexibility to move quickly to adapt to change. This is the implementation and communication stage. Sometimes it is prudent to run the old process simultaneously to the new process to see if the new process is indeed an improvement.
