By leveraging data tools, tracking KPIs, and continuously assessing performance against benchmarks, companies can close gaps and achieve strategic objectives effectively. Operational excellence and process optimization involve executing work according to quality metrics and standards. This includes identifying and driving process efficiency and ensuring systems are in place to support continuous improvement.
Answer (1)
Companies use data tools and track key performance indicators (KPIs) to monitor how well they are doing compared to set goals or benchmarks. This helps them spot any gaps and make improvements to reach their strategic objectives efficiently. Operational excellence means performing tasks with high quality by following set standards and metrics. It focuses on making processes more efficient and putting systems in place that promote ongoing improvements over time.
