Profit-Ability and Profitability
Profit-Ability Improvement Increases Profitability...
Philosophies of improvement in business, in life, and in relationships are available now, in the “information age,” in prolific and overwhelming abundance. Knowing what remedies to choose for a given set of symptoms can be a very risky business. A wrong choice can end your career or end a company, a product line, a source of funding, or a partnership—at home or at work.
The task of applying remedies to one’s circumstances is an art at the very least. When the remedies are for company-wide problems like cash flow, or startup costs, phase-out costs, marketing strategies, market research, etc.—profitability is ultimately the goal. What will be the gains of this action or that program or purchase? What will be the losses? If the short-term gains are negative is there a long-term gain on the horizon that will ultimately prove this action to be profitable?
Profitability, typically measured as extrinsic gain in hard dollars, may also include intrinsic gain. We intuitively understand this when looking at individual incentives for employees or teams. Companies that want to be around for a long time must invest in intrinsic gain strategies as well as extrinsic gain strategies.
With this view in mind and for additional reasons presented elsewhere in this site, it is our position that:
Profitability Improvement is The Umbrella Under Which All Other
Improvement Philosophies For Business Must Reside.
Quality management principles and philosophies, in this view become tools and strategies for profitability where the worth, value or gain of any radical intervention or repetitive system must be measured or demonstrated as extrinsically or intrinsically profitable.
COMPATIBILITY: Our methods and strategies are designed conform to the principles of Continual Improvement, and are directly integrated with, the standards and requirements of TQM, TQC, TPM, SPC, ERP, MRPII/JIT, SCM, DRP, ISO-9000, ISO-9001, ISO-9004, ISO-900X, QS-9000, etc. and other improvement philosophies.
Back to Profit-Ability...
ERP & Hoshin Kanri…
Profit-Ability Improvement... (¬Click here to see definitions)
Profit-Ability Management Principles... (¬Click here to see definitions)
People, Empowerment & Profit-Ability… (¬Click here to access articles)
Hoshin Kanri & Deming's Plan-Do-Check-Act... (PDCA) Cycle…