Estie

Working smarter: 3 strategies for improving business productivity

Technological advances, customer expectations and especially globalization have increased the need for higher productivity. After all, Canadian entrepreneurs must now compete with companies in countries such as China and India where labour costs are a fraction of what they are in North America.

In a formal sense, productivity refers to how well an organization converts input (such as labour, materials, machines and capital) into goods and services or output. But today it is no longer limited to measuring ratios of inputs and outputs. Basically, increasing productivity just means working smarter. You can look for opportunities to improve efficiency just about anywhere in your company. Here are some key areas to consider.

Choosing the right equipment can help you reduce the risk of costly errors and improve the way you do business. Before you buy any equipment, be sure you are thoroughly familiar with the current […]

The Best Way to Improve Business Performance

By Deb Miller | Apr 10, 2012

“What’s the best process improvement approach you’ve ever seen?”
I have answered that question differently over the span of my career and suspect you may have as well. In this article in my adaptive case management series, I reflect on the different business process improvement approaches and tools I have seen and share which one I think has the right stuff.

Our perspective is influenced by changing external factors like markets and technology, shaped by the operational model of the businesses and agencies where we’ve worked, and informed by what we have learned along the way through actual experience.

 Quality as a Key Driver — Reducing Mistakes

Over the years I have watched Six Sigma evolve from a problem-solving technique and quality strategy to cult status and even television satire (30 Rock).

Early on in my work at GE I embraced Six Sigma as a […]

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Four Steps to Improve your Company’s Performance in 2017

Lori Williams – 01 Jan 2014

Here are four essential steps for improving your company’s performance and growing your business:

1. Know your Financials

Companies are dynamic organizations with a myriad of business functions occurring simultaneously. In order for the company to grow, each business function must operate collectively to produce an output in excess of the input. Gross Profit, Net Profit and Cash Flow monitor these relationships. They provide vital information about the health of the company. Specifically they can tell you:

(1) If you are selling your products/services at a high enough price to cover cost to produce.
(2) If your overhead cost are in alignment with the profit received from the sales.
(3) If you are profitable enough to sustain operations, pay shareholders and create equity for reinvestment .
(4) If your cash timing (collections and payments) are in sync and will provide the […]