Competitive Value Analysis: Slow Down to Speed Up
Value analysis teams are being pressured to save more in less time, but is this really a productive way to do business? There have been a number of industry studies recently that have documented that simply increasing the pace of your work or productivity often leads to decreased value over time. These same studies report that organizations that embrace strategic vs. frenetic speed have 52% higher operating profits over time. What’s more, these organizations don’t suffer burnout!
How does this happen? Strategic FAST organizations have these characteristic that set them apart from their competition:
● Senior management is committed to initiatives’ success vs. the lack of senior leaders support.
● Teams review how their work is going vs. not taking time to reflect on their work.
● Teams capture their best practices vs. not debriefing after an assignment to document lessons learned.
● Teams uncover breakthrough savings vs. fine-tuning their existing spend management.
● Senior management makes sure there are no conflicts vs. working at cross-purposes by giving teams competing objectives.
● Even experienced employees receive extensive training when assigned to teams vs. rarely, if ever, receiving training or education.
“Ultimately, strategic speed is a function of leadership. Teams
that become comfortable taking time to get things right, rather
than plow(ing) ahead full bore, are more successful in meeting
their business objectives. That kind of assurance must come from
the top”, says Jocelyn R Davis and Tom Arkinson, principals at The
Forum Corporation.
Are these the characteristics your value analysis team(s) is exhibiting and the kind of senior management support you are experiencing? If not, maybe it is time you slow down to speed up by closely aligning your value analysis team(s) performance with your senior leader’s expectations.
Filed Under: savingsblog • Value Analysis
