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New best practice for a company in Stage I or II would be to measure everything. The reason for this best practice is simple, harkening back to Frederick Taylor -- you can't manage what you can't measure. Small, growing firms tend to focus on marketing and on selling new products, not professionalizing their management. But measurement is a key best practice that firms should employ as early as possible in their business, because it drives so many things.
Getting tracking systems into place allows for defects to be tracked and detected, it allows for better performance management of human resources, it can allow the company to identify and dismiss underperforming employees, and improve service quality. Management benefits from knowing more about the company, and can begin to orient behaviors and even the organization's culture towards specific objectives (Lovin & Yaptangco, 2006).
Measurement also allows for performance benchmarking. The company can improve by benchmarking against itself, and its competitors. It can...
This is one of the best ways to improve because when management has hard numbers, it knows whether it improved or not, and by how much. Measurement takes a lot of the guesswork out of management, allowing managers to accurately assess situations (PERI, 1999).
Seeking out measurement also re-orients the company and its culture to more professional practices. For a company in Stage I or Stage II, this outlook is not usually common, and people in the company feel more entrepreneurial. Measurement does not need to stifle creative impulse in the company, but it does help to formalize routine tasks and procedures. This gives the company an opportunity to understand how to do things well -- in other words measurement is the baseline best practice that facilitates the development of other best practices. Companies have the opportunity to evaluate the outcomes of managerial action and that helps them to make…
References
Lovin, C. & Yaptangco, T. (2006). Best practices: Measuring the success of enterprise testing. Dell.com. Retrieved May 4, 2014 from http://www.dell.com/downloads/global/power/ps3q06-20060252-Yaptangco.pdf
PERI. (1999). Benchmarking, best practices and performance measurements for public entity management. Public Entity Risk Institute. Retrieved May 4, 2014 from http://www.riskinstitute.org/peri/images/file/Benchmarking_Guidelines.pdf
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