Industry-specific best practices are operational business processes that function in a manner that is considered acceptable or correct. One overlooked attribute of best practices is the degree of effectiveness for a particular process. In order to be efficient and effective, best practices may require altering or tailoring.
Many companies succeed by finding a unique niche or competitive advantage that sets them apart from their competitors. This competitive advantage often translates into business processes that are different from other companies in the same market space. General industry best practices can break down when applied to unique business processes.
Effective business processes are based on specific industry standard best practices that are enhanced to support the unique traits of the business operation. Only process changes that are directly related to supporting the competitive advantage should be considered. Companies should be mindful not to develop unnecessarily complex processes for the sake of uniqueness. The business benefit and competitive advantage should justify the industry best practice modification.
Efficient and custom-tailored best practice processes can give your organization a competitive advantage. Evaluate your company’s processes and consider how they vary from the industry standard best practices. You will find that you can improve the efficiency of your organization without losing your competitive advantage.