You can improve any asset or process by realizing three types of opportunities: eliminate known failures, mitigate latent risks, and pursue upside performance towards the theoretical best. For your car, this would mean: fixing the broken brake light, replacing the power steering pump before it fails, and improving the fuel efficiency to 80 mpg and beyond.
Most businesses fail to improve at a fast enough rate to survive because they pursue opportunities in that order.
Usually we make decisions with both the head and the heart, and it’s easy to devote resources a problem that annoys your customers, frustrates your employees, or simply causes your phone to ring in the middle of the night. What’s missing from this approach? No news is good news, right?
First, you leave a tremendous amount of opportunity on the table Continue reading “If you’re happy as the second slowest gazelle, “5 Whys” is enough”