The first ‘P’ is “People” ( Employees as well as Customers) perhaps the most important one . At P.R. Industries, we make it a priority to ensure customers are happy and employees are motivate and empowered. With most businesses, if the customer is not satisfied and happy with the product or service not only will he/she not be a return customer, but he/she will not recommend the company to other potential customers. The single best way and biggest compliment to a business is when an existing customer enthusiastically recommends a product or service to his/her family, friends, and colleagues.
Planning :
We have all heard the saying ‘failing to plan is planning to fail’. Truer words have never been spoken. We here focus on Strategic as well as Operational Planning for the smooth functioning of all the sections of the company.
Process :
The third ‘P’, Process, is considered the road map to success. Formal processes are developed at every level of the organization so employees and management can fully understand what happens at every phase of the business cycle.
These process maps are a great way to train new employees, provide structure and empowerment to all employees, and clearly mark the areas of measure throughout the cycle.
The Process Pillar should provide a multilevel depiction of the who, what, when, where, why, and how of the organization. A properly designed process flow should allow for traceability from the lowest level activity up through to the highest, most visible strategic level.
Performance :
Performance is the fourth Pillar of the company. It can simply be described as the collection of data and analysis to ensure the process, operational, and strategic plans are all in alignment and generating the desired results. Monitoring performance requires significant discipline and should not become a burden or log jam of the daily process flow, however, it is critical to capture aligned data and the simplest methods are used to do so. In addition, accountability of all employees is made to ensure timely and accurate results. Another common phrase is ‘if you aren’t measuring, you aren’t managing’.
Profit :
We have reached the final Pillar, Profit, and it is safe to assume most businesses exist to generate a profit (non- profits technically aren’t but do need to generate sustainable income and certainly benefit from the Five P’s). In the most general sense, earning a profit is generating more revenue than a company has expenses. The key is to keep expenses as the most minimal amount while maximizing the intake of revenue.
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| Downloads: 5 | ||||
| Updated At: 2024-04-22 21:20:18 | ||||
| Publisher: Web Ads India | ||||
| Operating System: Android | ||||
| License Type: Free |