2. Business improvement? Generally speaking, a business is comprised of people, processes
Capital is the company’s assets - money, plant, equipment, tools, supplies,
There are three type of processes that are central to sustainable business improvement,
because they are the links in the company’s value system. These process are:
Management (e.g. developing employees’ customer service focus),
Business (e.g. fulfilling customer orders on quality, quantity and time), and
Change (e.g. improving external and internal supplier performance).
At the heart of these processes are people - the company’s employees and this includes
management, as well as its customers, suppliers and others.
When people work together to improve these processes, the company has the potential
of optimizing the use of its capital, to increase value to its customers, to improve
its sales, to reduce its costs, to lower business risk, and consequently to increase
and sustain its net profitability, and owner value.