15 Best Practices of Successful Small and Medium-sized Businesses August 7, 2006Posted by Tom in Media, Opinion, Research, Workforce.
Evolving Excellence has some fun with the National Association of Manufacturers/RSM McGladrey “The Future Success of Small and Medium Manufacturers” report. I looked it over and thought that it largely made sense:
- Stay in touch with customers
- Differentiate products and services
- Devote time and energy to marketing
- Go global
- Ensure your cost system is helping contain cost increases
- Look for a long-term relationship with a banker
- Invest at least 3 percent of payroll in training
- Explore how MEP experts can help you
- Appoint a majority of outsiders to your board of directors
- Develop a plan for management succession
- Monitor your company’s viability and competitiveness daily
- Weigh quantitative and qualitative factors when making capital investments
- Look for opportunities to delegate
- Speak out to government representatives
- Stay abreast of regulatory and policy developments
Notice #7 directly relates to workforce. And #13 can easily speak to the value of a strong workforce.
Perhaps I just need to understand the World of Lean better. Any opinions on the list?