Best Practices Q & A - Part 5

Question: “Isn’t it true that with effective systems, good products, and proper training that a company can dominate its market and make good profit margins – even without good leadership, a “best practice culture” and all of that stuff?”

Answer: “Yes, it is true. However, remember that competition in an industry, within a given time frame, may turn out to be who is ‘least worse.’ The old saying ‘in the land of the blind, the one-eyed man is king’ applies in this context. The reality is that there are many, many factors that make a company successful – many areas where top—notch Best Practices that lead their industry can be in use, all while other aspects of the organization are way behind the ‘power curve.’

The point that we’d like to make here is that any area that is not being worked on with innovation and improvements, remains a vulnerability, through which a competitor, or an external factor can come to cause trouble. The true world-class (that over-used phrase) companies pursue excellence in every aspect, every area of their business on a relentless, never-ending basis. This gives them a degree of predictability, of business and financial security that others simply do not have.”
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