Maintaining operational excellence is crucial for the sustained growth and success of any organization. This involves implementing efficient processes, utilizing advanced technologies, fostering a culture of continuous improvement, and empowering employees to contribute innovative ideas. Operational excellence also requires a focus on quality control, cost management, risk mitigation, and strategic alignment with the organization’s goals. By prioritizing these factors, an organization can achieve and sustain operational excellence, positioning itself for long-term success in a competitive market.
Learnings from Pee Safe
Pee Safe provides a range of products designed specifically for women to ensure a clean and sanitized washroom experience. The inspiration behind the creation of these products stems from a personal experience of Shri Vikas Bagaria’s wife, who encountered a Urinary Tract Infection (UTI) after using a public washroom while traveling. This incident led Mr. Bagaria to recognize the significant challenges women face when using public toilets and motivated him to introduce these innovative products aimed at protecting women from potential infections.
How to build operational excellence in your business?
I recently came across some valuable insights on building operational excellence in a business. According to Shri Vikas Bagaria, the success of any business operation is crucial, and he emphasizes the importance of trusting your team. He believes that with a strong team, anything is achievable.
One key point he makes is to avoid being self-centered and not trying to control everything. Delegating tasks and giving ownership to your team members can make them more efficient and relieve you from shouldering all the responsibilities. For instance, Mr. Bagaria shares how the head of his accounts department has complete ownership of work, following a set process for payments and bill approvals.
In addition, he stresses the importance of thorough decision-making, suggesting that obtaining multiple quotations before making a purchase decision can lead to the best technical and commercial outcomes.
Furthermore, Mr. Bagaria encourages sharing the business vision with the product development team to instill a sense of ownership and commitment. He believes that once tasks are assigned, follow-ups should not be necessary, and employees should proactively update on their progress.
Mr. Bagaria also emphasizes the significance of maintaining a strong review process and fostering trust in employees. He suggests that a good organization is one where teams work according to their plans while keeping the collective vision in mind.
Moreover, he highlights the importance of establishing Standard Operating Procedures (SOP) and providing necessary resources for automation. Understanding and staying updated on compliance requirements, such as tax filings and government updates, is also crucial.
In conclusion, Mr. Bagaria recommends keeping relationships, vision, and investor communication within your purview, while entrusting the rest of the work to your employees to achieve operational excellence in your organization.
Final Verdict:
It is recommended to delegate your authority and implement the maker-checker model in order to enhance operational efficiency. This model involves having one person create or “make” a decision or transaction, and another person review and “check” it before it is finalized. This helps to ensure accuracy, reduce errors, and provide an additional layer of oversight, ultimately contributing to improved operational effectiveness.