The Pursuit of Operational Excellence
Krista Bourne
Global Speaker | Former Fortune 20 Consumer COO | Corporate Mother & Wife
Every year, corporate leaders engage in critical discussions about the business transformation required to stay competitive, often focusing on driving growth and reducing costs. However, the real challenge lies in achieving these goals and doing so without compromising operational excellence!?
Drawing from my experience as a Chief Operating Officer and National Sales Executive, I've confronted the challenges of pursuing operational excellence within a highly competitive industry. The pressure to drive business transformation escalates with each quarter's close, demanding thoughtful decision-making and disciplined leadership to prevent unintended negative outcomes and achieve an optimal return on investments.
While technological advancements and process optimization are crucial, the real key to sustained excellence is more traditional yet complex: the undeniable role of the human element. This realization underscores the importance of aligning technology with a profound understanding of people's impact on achieving and upholding excellence, highlighting a path that balances innovation with individuals' invaluable insights and contributions.
So yes, there needs to be Digital Transformation.??
We're past the point where digital transformation is an option; it's now a competitive capability. With digital transformation being a top priority for most organizations, it will inevitably lead to new ways of working, new skill requirements, and further competitive advantages. That's why we all need to be involved— it's important to make the time to be curious about new technologies like AI and machine learning, trying to understand what skills they require and how YOU can leverage them.
Then there's Operational Agility, which is the New Efficiency.
Gone are the days when operational efficiency meant doing the same thing, only faster. Today, it's about quickly pivoting and adapting real-time processes to meet evolving customer demands and the disruptive digital landscape. I experienced the value of operational agility firsthand as I worked with my previous team to navigate our national retail footprint of over 1.5K company-owned retail stores, more than 5K partner retail stores, and more than 15K frontline sales professionals during the COVID-19 pandemic. There was no better test or team to have faced this challenge with, partly because of our operational agility.
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This brings us to the Human Factor, which is the fundamental enabler of operational excellence.
Here's the provocative truth: achieving the total ROI from digital transformation and operational agility necessitates prioritizing people—employees and customers.
Operational excellence requires less focus on an organization's size, which might change over time due to several factors, not just digital transformation! Trust me. Instead, I'd suggest that leaders give more attention to the commitments and measurable actions focused on maintaining a skilled and engaged workforce capable of quickly optimizing future solutions and tools.?
Realizing changes in an operating model, such as reducing resources, before reaching tool utilization or work mitigation milestones can put other aspects of operations at risk. That's why prioritizing the human factor in the innovation process and considering the adoption rates and the speed at which the organization can achieve them are critical to claiming and sustaining true operational excellence.
In today's fast-paced environment, transformation is not just unavoidable but imperative. Yet, I caution organizations about setting unrealistic timelines and over-engineering solutions that fail to add value for their employees or customers. The pursuit of high adoption rates for underwhelming tools or in an unnatural timeframe can lead to significant losses in time and mindshare, potentially undermining the business case they are supposed to support. By intentionally blending digital transformation with operational agility and prioritizing people, companies can navigate the complexities of adopting new technologies more effectively.
This strategic focus can set businesses apart, ensuring the seamless integration of new capabilities while fostering sustainable growth and competitive advantage in the long term.
#PeopleMatter
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Healthcare MBA | Operations | Compliance | Strategy
1 年??!! A company's competitive advantage is also shaped by how it builds and interacts with its workforce. Skilled employees possess immense value, and effective leaders are those who can unlock and maximize their team members' potential. #PeopleMatter ????
CFE | Compliance | Risk | Fraud | Purpose Driven | Ethical Leadership | Transforming compliance risks into operational excellence
1 年The best laid plans will fail without the right people in place. Yes, #peoplematter! Great post!
Strategic Transformation Leader | Driving Product Innovation and Organizational Excellence
1 年An engaged, skilled and agile workforce is essential in the pursuit of operational excellence as the speed of business continues to accelerate - your ability to quickly transition the retail workforce to a remote one during the pandemic is a testament to that. The people component is too often forgotten in practice, thank you for always keeping them front and center.