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| Thought Paper |
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Continuous Process Improvement - Managing Dynamic Business Environment |
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| Abstract |
Business operations and their success largely depend on the 'variables' of the contemporary market conditions. In addition to evolving market demands, these variables include technological advancements, resources, political and financial scenarios, and contingencies. Together, they form the 'Dynamic Business Environment' in which enterprises exist. The growth of the Internet, for example, has resulted in various new and improved enterprises. On the other hand, the fall of the World Trade Center and renowned companies, such as Enron, justifies how sudden changes can affect economies, different businesses, and people at large.
Having recognized the nature of this fluid environment, businesses are increasingly taking measures to 'always be prepared' - for the best and the worst scenarios - by streamlining their organizational operations. On failing to do so, they risk smooth business management that could further result in decreasing market share. Research indicates that by 2007, information service organizations that do not take such steps will suffer at least a 50 percent drop in budget responsibility and control.
To assist corporations formulate their strategies towards streamlining efforts, organizations, such as the Software Engineering Institute's Capability Maturity Model (SEI CMM) and the International Standards Organization (ISO) have defined various standards. For instance, CMM and ISO recommend enterprises to formulate documented quality assurance standards. This helps ensure a consistent product quality in any market condition.
These standards become effective only when organizations constantly update their business processes and infrastructure in light of the dynamic business environment. This way, they can ensure security, success, and competitive advantage. 'Continuous Process Improvement' is the term that describes such efforts.
To maximize business gains, increasing number of businesses are outsourcing their process improvement efforts to domain experts. This sphere of Business Process Outsourcing (BPO) offers them cost effective and customized process enhancement solutions catering to specific organizational requirements. Additionally, their internal resources can focus on other business operations. In the prevailing technological and business conditions, these benefits lead to increased competitive advantage.
This white paper discusses continuous process improvement as a tool to succeed in the existing technology and economic environment. Also highlighted is Patni BPO's approach towards continuous process improvement.
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