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How continuous improvement can build a competitive edge

https://www.mckinsey.com/business-functions/organization/our-insights/the-organization-blog/how-continuous-improvement-can-build-a-competitive-edge

mckinsey.com

How continuous improvement can build a competitive edge
What level of impact can continuous improvement achieve? One of our clients would say ten weeks. Why? That's how much time they were able to save in their product testing process-cutting the time by more than 80%-through a large amount of small changes to how its engineering and testing teams collaborated.

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Continuous improvement

Continuous improvement

Is an ongoing effort to improve all elements of an organization - processes, tools, products, services, etc. 

It rests on the belief that a steady stream of improvements, diligently executed, will have transformational results.

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3 Practices for Continuous improvement

  • Performance transparency: it starts with making goals public and cascading those goals  in a way that is tailored to individuals at all levels of the organization.
  • Knowledge sharing: critical to scaling best practices across (and up and down) organizations.
  • Employee involvement: frontline employees are closest to the work and typically have the richest insights on how their work can be done better. Capturing their perspectives is critical.

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