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The 27 Approaches for Increasing Profitability

Posted on: March 21st, 2014 by Staffan Engstrom

A major challenge for both business and other organisations is to deliver sound financial effectiveness and profit improvement. As a result of our wide practical experience in operational improvements, we have developed The Toolkit for Increasing Profitability as a way of helping business, public sector, and not-for-profit organisations to consider how they can do better.

Not all of the approaches identified here will be appropriate to your organisation at this time. Indeed, we would be very concerned if you tried to implement more than just a few at once! Our mantra is that ‘less is more’.

However, the strength of the Toolkit is that it allows you to test and compare the improvement initiatives that you have underway, and to design and develop your future improvement programmes with a full view of the options that are available to you.

We reccomend that you consider the breadth of the options available with care – using the approach proposed within the Toolkit – to ensure that you focus your organisation’s efforts in the best way.

The keys to success in change programmes are to:

  • Provide clarity of purpose for what you plan to do.
  • Develop unity of purpose amongst the senior and middle management teams of the organisation through involving them.
  • Deliver simple and effective communication of purpose to the wider organisations that will be affected