I remember a famous quote by Mr. Warren Buffett - “It’s only when the tide goes out that you learn who’s been swimming naked”
Now the tide is over. Economic meltdown, Inflation and Financial crisis are around the corner and many organizations are exposed. They are challenged to change.
Change is upon us. Actually change is always upon us, but in recent times the intensity of change appears to have accelerated a lot.
You ask - what does it really mean? I say it is not only the cost cut (sometimes in a very silly way like reduction in canteen menu), but to improve. Improvement is required in Product, Service, Process and System – improvement everywhere.
Let us declare war with all our might against 3 ‘I’s & 3 ‘R’s.
- Inefficiency, Ineffectiveness & Inconsistency
- Repair, Rework & Rejection
Inflation precedes prosperity.
Let us reduce our unwanted losses all across the organizational processes and get prepared for the future. We need to understand the future need of the customer & the market to build our organization robust.That is the start of journey towards excellence – Business Excellence.
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