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Business Intelligence Is It Beyond Me?

September 29, 2016

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How Many Best Practices Are There ... and are they important?

May 7, 2019

 

In today’s issue …

- Best Practices: Are They The Holy Grail?

- less than 308 words, total reading time 2 minutes

 

 

 

 

We meet a lot of operators in our business who have been accumulating best practices for years. Many operators have collected them for more than 10 years. Some of practices get implemented and others don't see the light of day.

 

In the end, most operators end up believing they have the best practice. 

 

So how many best practices are there in a typical CI company?

 

We recently identified 25 key functional areas in the business; each with 4 or 5 best practices. That is, more than 100 best practices; no wonder they don't all get implemented.

 

In the operators haste to execute the business they get busy.; inundated with stuff to do. Busy often trumps important or high impact actions.

 

Then there is the opinion that best practices only work if they are tailored to each company and its people; ascertaining that many practices can not be implemented to the same degree of success from business to business.

 

Here is what we do know: 

 

  1. Best practices that allow processes to be repeated successfully are valuable.

  2. Best practices evolve over time and are not always static

  3. We know few companies who write down or have a manual of best practices

  4. Few of the leading industry groups actually document the best practices that are shared between their members,

  5. Companies that focus on a handful of best practices can make significant inroads.

  6. Companies that make implementing best practices a priority will outperform those that do not.

With CEDIA, the buying groups, management groups like VITAL and other collaborative groups all working the best practice opportunity, you would think we could drive better results faster.

 

Perhaps, a set of guideposts is in our future. And, the impact of group intelligence will surface to once and for all document best practices for the benefit of all. Meanwhile,

 

 

Stay Vital,

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