Starting a business no matter the size is a challenging task that requires novel ideas and innovative strategies other than the capital for the beginning. However, most people think that companies once successfully started and grows to become among the best companies that they are bound to continue their growth. Kerzner (2005), argues that there are no guarantee for growth and development with the market, internal and external risks threatening to stagnate or diminish the growth of the business. Therefore, continuous improvement process is vital to influence efficiency in resources and maximize profits hence the need to discuss the continuous improvement foci and the hindrances of continuous improvement.
Benchmarking, managerial issues, and establishing sustainable competitive advantage are the three core factors that propel and maintains the growth of a company (Kerzner, 2005). Benchmarking is the continuous comparison of the project management practices of an individual organization with that of the leaders in the industry. Benchmarking enables the company to evaluate and understand the issues that they may be facing high costs or is unable to lower costs as their competitors can do (Kerzner, 2005). The ability to continuously review and evaluate these project management tactics makes it easier to identify the issues that the company must deal with to enhance their growth for instance by reviewing the corporate culture would help determine the changes needed to achieve productive and improved working forces. Fear, or choosing the wrong company to benchmark is a common problem in most organizations.
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Managerial issues are among the five categories of continuous improvement, and since the management is essential in planning and ensuring a conducive environment for growth, managerial issues must be dealt with conscious and critical evaluation. Transformational and transactional leaders enable the change of organization culture, motivation of employees and enhanced decision-making (Kerzner, 2005). The inability to determine the best leadership style in different projects can diminish the success of a project thus leading to poor team selection and training of line management that are in direct connection with the employees. However, changing the management often or without preparing the employees could hinder managerial changes.
Lastly, a company that can employ benchmarking and makes changes to curb the managerial issues can maintain consumer interaction and adopt efficient ways of production through embracement of technology. These techniques enable the company to determine a sustainable competitive advantage since it understands the market and competition and has the right internal and external knowledge and experience to impose its improvement strategies (Kerzner, 2005). Benchmarking because it is the right thing to do rather than using it as a way to develop sustainable competitive advantage is a significant problem for many companies.
Reference
Kerzner, H., (2005). Using the Project Management Maturity Model: Strategic Planning for Project Management, 2nd Edition . [Bookshelf Online]. Retrieved from https://bookshelf.vitalsource.com/#/books/9781118008119/
