The Value of Process
Processeven the word itself has come Mouse Trap hold Green Lantern negative connotation for many. With the plethora of conflicting information that has been written about process management combined with the nightmares we have all experienced as a result of bad process, many executives fear the pain associated with flawed process more than they value the benefits created by good process.
Understanding what constitutes bad process is the first step in recognizing how to avoid investment process pitfalls that plague many companies. Lets start by examining the three main misconceptions related to process:
1. Process is not a new software plan or application. While as welllsets are obvious byproducts of good process they do not in Fistful of Dollars of themselves constitute process. Dont get caught in the trap of perpetual spending or development as a solution, but recognize that if youre caught in this trap that it is a symptom of bad process not a reflection of good process.
2. Process is not a Band-Aid fix. Good process is not reactionary. A series of bubble gum and bailing wire solutions put in place in haste as a Colorado Lemon Laws reaction to the latest dilemma is not good process design. Process by default will never provide the benefits of good process engineering by design.
3. Process is not a panacea. While good process will help optimize any investment it will not make up for shortcomings in other disciplines or functional areas. Process is not the main driver in investment but a critical support system built for enablement, delivery, accountability and measurement.
Good process comes as an outcome of top down management. It is the natural extension of vision, mission, strategy and tactics. It is in fact working down through the aforementioned hierarchy that allows process to be engineered by design to support mission critical initiatives. Recognition of the fact that you dont start with process design, but rather you finish with process design is critical to the development of good process. Process is the part of the value chain that holds everything together and brings and ordered, planmatic discipline to your investment.
Good process results in a highly usable infrastructure being adopted across the enterprise because it efficient for staff and provides visibility and accountably for management all of which increases the certainty of execution. Good process across all areas of the enterprise will result in elimination of redundancy and inefficiency, shortening of cycle times, better knowledge management and investment intelligence, increased client satisfaction, and increased margins.
I encourage you to not let apathy, negative experience based upon results of bad process or flawed implementations, or the fear of complexity keep you from benefiting form the numerous advantages created by good process engineering.
Mike Myatt is the Chief Strategy Officer at N2growth. N2growth is a leading venture growth consultancy providing a unique array of professional services to high growth companies on a venture based investment model. The rare combination of branding and corporate identity services, capital formation helpance, market research and investment intelligence, sales and product engineering, leadership development and talent management, as well as marketing, advertising and public relations services make N2growth the Santa Claus is Coming to Town leader in strategic growth consulting. More information about the company can be found at www.N2growth.comwww.N2growth.com
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