Business Transformation & Operational Excellence World Summit & Industry Awards

What is Operational Excellence? It is important we define it.

Operational Excellence is the execution of the business strategy more consistently and reliably than the competition, with lower operational risk, lower operating costs, and increased revenues relative to its competitor. It is needed more than ever in today’s technology-driven rapidly changing business models, which require organizations to undergo an end-to-end business transformation. Operational Excellence can also be viewed as execution excellence.

Some of the key process methodologies used are Lean Thinking, Six Sigma, Hoshin Planning, Balanced Scorecard etc.

However, the focus of Operational Excellence goes beyond the traditional continuous improvement methods to a long-term change in organizational culture. Companies in pursuit of Operational Excellence do two things significantly different than other companies: they manage their business and operational processes systematically and invest in developing the right culture.

Operational Excellence manifests itself through integrated performance across revenue, cost, and risk. It focuses on meeting customer expectation through the continuous improvement of the operational processes and the culture of the organization. The goal is to develop one single, integrated enterprise level management system with the ideal flow. The second component, a culture of Operational Discipline, is commonly described as doing the right thing, the right way, every time. This culture is built upon guiding principles of integrity, questioning attitude, always problem-solving, daily continuous improvement mindset, level of knowledge, teamwork, and process driven. 

The summit will address some of the biggest challenges, which are:

• Rethinking operations end to end, incorporating digitalization activities along the whole value chain
• Adapting and embracing new technologies and the new business models
• Cultural Transformation and creating a culture of Operational Excellence and Innovation. Implementing effective Change Management programs. Driving Corporate Culture Change and How to build and transform Organizational Culture
• Leadership Understanding, Buy-In, Support and Sponsorship from ALL Leaders which is critical. Operational Excellence needs commitment, resources and cannot be optional. 
• Sustaining a Continuous Improvement Culture (Key to this is Leadership Buy-In)  
• Achieving an Enterprise-Wide Operational Excellence Strategy
• End-to-end business transformation, with all departments’ processes working in unison at scale to aligned goals and priorities.
• Keeping up with new technologies, relative value relevance, and the creation of new opportunities. AI, Robotic Process Automation, Machine Learning, IOT, Cloud Computing, Big Data, Data Analytics, Advanced Robotics, 3D Printing, Mobile Applications are just some of the technology shifts.
• Integrating New Advanced Technologies
• Acquiring and managing start-ups
• Changing Customer Demands & Channels
• Building New Competitive Advantages.
• Integrating CI methodologies personalized to the organization.
• Ensuring initiatives are aligned with Key Strategic Priorities, across the organization.
• Failure to innovate fast enough.
• Building a culture of innovation & agile mindset.
• Changing Workforce, Millennial Generation, Freelance Culture. 
• Customer Experience Excellence in a less high touch environment.