Operational excellence is a proven methodology to provide support to the organizational framework initiatives. The objective is to achieve continual improvement and sustainable development. However, many a times, when the topic operational excellence is discussed, many misunderstand it. They consider it as another gimmick that will only add to their costs without adding any kind of value to the product served to the customers.
To be honest, these myths need to be broken for the method to flourish the market and thus help organizations in achieving optimum results. In this blog, we will be discussing some of the most common myths related to operational excellence.
- Operational excellence is just another corporate propaganda
Many people believe that operational excellence is just another corporate propaganda that looks good on paper but fails to provide results both on organizational as well as on individual level. However, this thinking is completely baseless. The proof can be taken from companies like General Motors who is expected to save more than $3 billion and witness a 20 percent revenue by 2020 because of operational excellence and related tools and strategies.
- Operational excellence is the solution to any problem
Many people also believe that operational excellence is a cure all for the problems occurring in their organization. It is important for the companies to start with realistic goals. Starting off with very high and unrealistic goals will ultimately hurt their confidence and can also produce unfavorable results. Operational excellence depends largely on where it is started and on the driving force that pushes it throughout the system.
- Operational excellence is a costly methodology
Any quality improvement strategy comes with a cost and so does operational excellence. But it is important to note it as an investment rather than expense to the organization. Many companies who are largely benefitted with operational excellence are those who implemented it with a distinct thought process than just costs.
- Operational excellence is only for large and bigger companies
It is a total myth that operational excellence is only for large companies and will only benefit the companies with bigger contracts and manpower. Operational excellence and the consequent benefits can be achieved by any company with hard work, motivation, commitment and right strategy. Bigger companies might gain publicity for their operational excellence programs, but in reality it can be applied by everyone.
- Operational excellence only focuses on cutting costs
Operational excellence is much more than just cutting costs. It has been quite evident from the above facts that companies save a lot on their expenses as a result of operational excellence. Operational excellence is more inclined towards improving efficiency and productivity rather than just sticking to costs.
To be successful, you must get all-in with operational excellence and its tools and techniques. Team Faber Infinite has helped 150+ of clients in various industries across geographies in successfully implementing operational excellence processes and benefitting from it. With our structured framework, we have helped many clients in achieving excellence and attaining continual improvement and sustainable development. For more information, contact us at email@example.com
Written & Compiled by Faber Kishlay & Faber Mayuri.