Columnist Matt Kirchner writes about a recent Super Bowl commercial of Paul Harvey’s adage that on the eighth day, God created the farmer. But the ninth day was productive as well.
Finishers all over the United States are using Kaizen events to improve efficiency and better respond to the voice of the customer. Though some are achieving their goals, many — if not most — are failing.
What if there was a way to determine how we are performing financially compared with companies similar to our own? What if we could compare our results with theirs on an even playing field? What if we could determine where others are outperforming us and then take steps to improve in those areas?
Higher barriers to entry, minimal competitive rivalry, fewer substitutes and less powerful customers and suppliers—pay heed to Porter’s Five Forces and your next expansion will more likely be a lucrative one.
Imagine for the moment you could predict the future. Suppose you could foretell how your customers, employees or suppliers would behave during the next year or two. How would you use the information? Would you introduce a new finish to the market before anyone else?