If you’ve never worked with a consulting firm before, you may not know what to expect. The prospect of bringing somebody in to help may be daunting, but just like any other partnership, working with a consulting firm is all about building a mutually beneficial relationship. Cornerstone Consulting Organization (CCO) believes that open lines of communication are essential to a successful partnership, and it starts with the basics.
“No man is an island.” English poet John Donne addressed the basic human need to be a part of a community to thrive. Even before the Industrial Revolution, people recognized that everybody has a role to play and that collaboration is key to a functional society. This established interdependence extends to many aspects of our lives, primarily in the workplace, where three types of interdependence have emerged.
Italian philosopher and economist Vilfredo Federico Damaso Pareto developed what has become known as the 80/20 principle, or the Pareto principle. After observing that 20% of the pea plants in his garden produced 80% of the healthy pods, Pareto turned his attention to wealth distribution and found that just 20% of the population owned 80% of Italy’s land. After gathering data from various fields, he arrived at the general principle that 20% of action drives 80% of results. This pattern can be observed not only in economics and gardening but also in business and even personal habits.
Throughput has become a make-or-break standard in the industry and a major focus for manufacturers. Simply put, throughput is the time required for a product to pass through the entire manufacturing process. Ineffective throughput translates to wasted resources and lost sales opportunities. Customers who are left waiting for their products are more likely to move on to a more reliable partner. Since both efficiency and customer retention have significant impacts on the bottom line, it’s important for companies to understand, evaluate, and analyze their throughput time to find potential areas of improvement.
Entropy is disorder in a system that results in loss of energy, reducing the amount of energy available to perform work. An integral concept in the second law of thermodynamics, entropy is also a necessary consideration when working to maximize the efficiency and success of a business.
Entropy is complicated. Would you rather just talk?
Hiring the right people is the best thing you can do for your organization. Though time may be the most valuable resource, people are the make-or-break factor for any company. Most successful organizations are built upon great people who bring a variety of skills, knowledge, and abilities to the table. The wrong people could have all the time in the world and still fail, but the right people in the right positions can overcome time limitations to create success. Even if a company looks great on the outside, problems with human resources can spell disaster.
Buying a company is a huge investment which means you want to enter into the agreement with all of the correct information on everything from sales reports to inventory. This is where due diligence comes into play.
Cornerstone Consulting is pleased to welcome Beth Crowley as our new vice president of global operations. Beth's extensive hands-on background in all aspects of executive coaching, including change management, process re-engineering, value stream optimization, and team leadership, makes her a valuable addition to our team. She's worked domestically and internationally in both manufacturing and corporate environments with a focus on assessing operations and implementing strategies to eliminate waste and increase employee engagement and productivity. Beth has facilitated more than 200 successful rapid improvement (kaizen) events using quality tools such as lean and Six Sigma.