20/06/2024
From Our Website: munros.com.au/solutions-for-business-owners-and-managers/profit-improvement/
Key Points:
- Profit improvement requires a focus on the right structure, people, processes, in-demand products, and the correct customers in the short term, while the long-term goal centres on continuous prevention of waste, elements in the business that don’t add value or that customers wouldn’t pay more for.
- Identifying and eliminating long-term waste involves understanding where waste occurs, its cost, and strategies for reduction or elimination, a task that is straightforward yet intricate due to the necessity of a holistic approach.
- The eradication of waste requires a shift towards a culture of continuous improvement, necessitating effective communication across all levels of management and staff, and often the introduction of learning programmes to assist managers in transitioning to facilitators of action and improvement.
- Long-term profit improvement is a commitment to an ongoing process, though short-term gains are also achievable.
- Engage with the spam-free Profit Improvement Diagnostic to identify your top three strengths and weaknesses regarding profit improvement, encouraging proactive steps towards your business improvement.
Presented by: Drew Pflaum (munros.com.au/our-team/drew-pflaum/)
