There is a significant difference between Cost Reduction and Cost Takeout. All companies should have cost reduction as part of their business strategies. It only makes good sense. At one time or another, just about every C-suite and boardroom has had the discussion regarding Cost Takeout as a Strategy.   Continuous Improvement and Lean Business concepts tell us that there are always ways to take out cost and those tools do a good job of reducing cost gradually.  Cost takeout as a strategy is a completely different approach. The first thing is to make sure that everyone is clear on what a cost takeout strategy really is.  Let’s start with what it isn’t.

It is not: (more…)

Change happens. Every business environment requires continuously changing strategies, processes, tools and skills. Implementing a Continuous Improvement program is one way a company can harness their response to change and create competitive advantage. As companies launch Continuous Improvement programs, they need to have a plan. Effective programs require the following 5 elements leading to successful and sustainable (more…)

A lot has happened since the creation of blockchain in 2009, including the great hype of 2014-2017, when hundreds of books were written and blockchain was continuously in the news – At that point, more of a fantasy than a practical business reality.  Over the last few years, blockchain systems have matured and are going mainstream with companies now accepting cryptocurrencies for payments, issuing fungible tokens for digital assets, and notable companies such as Maersk, IBM, Walmart, and others having implemented blockchain in their supply chains.  Just as the internet was in its infancy in the late 90’s, (more…)

Studies indicate that 90% of all companies do not execute their strategic plans effectively. So, only 10% of companies execute their strategies!? Why is there a problem with Strategic Execution™; the ability to implement strategy effectively and sustainably? Is it because they don’t care? Feel like strategy is a check the box activity?

There are multiple issues here that companies need to deal with: (more…)

The majority of our consulting work has been virtual and like everyone else we have adapted by developing a virtual strategic planning and strategic execution process. To us and our clients, this remote workforce thing has not been as bad as people feared. Many leaders believe that employees are more productive when working from home and several companies are reducing office space and headcount because of it – one part of their strategic plan. They all agree that executing strategy has presented more challenges because (more…)

We recently worked on a project that required the integration of two $30M companies. Both had grown to this size in a short period of time and had systems that supported their individual sizes relatively well. When the two were combined, they pushed across an inflection point. An inflections point is when a company’s systems, business processes and organization structure are struggling to support the size of the company and are incapable of supporting future growth to the next inflection point. (more…)

It has been a wild ride the last 6 months and most companies have completed the first of three phases:  Stabilize, Reconfigure, Recover. Strategic and tactical planning for the next 12-18 months will be critical for companies.  Senior leadership teams need to focus on the Reconfigure stage and define how they will redefine their business models in preparation for the Recover phase. In the video below, Jim Gitney, the CEO of Group50 Consulting, discusses the key (more…)

Over the last few months, none of us have been operating as usual. Swift action has taken place in all parts of every business.  Actions that typically would take months of reviews and decision making have been done in weeks, days and hours.  In trying times, we bypass the strict regimen of decision making and discard many of the minor concerns that get in the way of quick decision making. That is possible because business teams have (more…)

Supply Chain Risk and Supply Chain Resiliency are very real threats to companies as they try to recover from the pandemic, or any other disruption. It’s a topic that most companies don’t spend a lot of time on. They expect their Tier 1 suppliers to manage this reliably deliver just in time with high quality and low cost.  Over the last 50 years, supply chains have evolved into complex global networks that few companies understand beyond (more…)

This article is the first in a series of articles on Re-opening your business. They will be written by Jim Gitney, CEO of Group50 Consulting, manufacturing, distribution and supply chain experts, and Cindy Flynn, Partner at Hackler Flynn,  a labor law firm . In this series, we will talk about best practices and tips and techniques that we are learning from our clients who have opened their businesses.  A lot of great work is being done and you, as a business owner, should not be faced with re-opening your business in (more…)