{"id":128,"date":"2013-07-09T16:22:38","date_gmt":"2013-07-10T00:22:38","guid":{"rendered":"http:\/\/www.wgaconsulting.com\/blog\/?p=128"},"modified":"2015-11-18T15:08:12","modified_gmt":"2015-11-18T23:08:12","slug":"unlocking-the-benefits-of-operational-excellence","status":"publish","type":"post","link":"https:\/\/wgaconsulting.com\/new\/2013\/07\/09\/unlocking-the-benefits-of-operational-excellence\/","title":{"rendered":"Operational Excellence: Unlocking the benefits"},"content":{"rendered":"

Operational Excellence: Unlocking the Benefits<\/h2>\n

For today\u2019s companies, operating environments are more competitive than ever. Globalization and technology are two large factors that are increasing the competitive environment, allowing customers to choose the best, most affordable products and services from anywhere in the world. In order to remain competitive, companies have had to reduce their operating costs, rationalize investment budgets, and boost operational efficiency.<\/p>\n

Many efforts to address these issues focus on reducing short-term expenditures by cutting nonessential costs, postponing projects, and renegotiating service contracts. These efforts, however, are only useful in the short-term, cash-constrained environment. Companies often fail to assess longer-term opportunities for sustainable operational effectiveness. Achieving operational excellencewill improve the value of a company\u2019s products and\/or services and will create additional shareholder value.<\/p>\n

Operational Excellence: Strategy<\/h2>\n

Operational excellence strategies will differ based on industries and types of companies. For example, operational excellence, as well as the process for assessing how to achieve this excellence, will be vastly different for an oil company than for an internet service provider. If a company is experiencing declining competitive advantage, a number of things should first be assessed before determining what strategy to implement to attain excellence:<\/p>\n