Featured Articles: Considering Only a Single Perspective Limits Your Point of View to One; Understanding Investor Due Diligence; Energy Flows Where the Attention Goes
Operational Excellence by Design
– A cross-disciplinary approach in the pursuit of perfection.
Considering Only a Single Perspective Limits Your Point of View to One
By Joseph Paris; Chairman, XONITEK Group of Companies
We all look at the world from one perspective – our own. The perspectives we hold are born out of the circumstances of our upbringing and further developed by the experiences we gain during our lives. As such, one would expect that the perspective of some who have experienced much in their lives will be wider than one whose experiences have been more limited.
And so it is true for professionals dedicated to Continuous Improvement. Those who are exposed to Continuous Improvement through Lean tend to see opportunities for improvement from the perspective of the Lean practitioner. The same is true of those whose training was in Six-Sigma, or Total Quality Management, or whatever. I find it especially intriguing that each will argue that their approach is the best approach for effecting improvements. However, there are inherent limitations to restricting the approach in realizing improvements – as the saying goes, “If the only tool in your toolbox is a hammer, every problem looks like a nail.“- Abraham Maslow
Prior to the institutionalization of hedge fund investing, investment decisions and allocations were largely made on the basis of performance numbers and the qualitative aspects of a fund: people, process and philosophy. Over the past decade, the needs of professional fund investors have resulted in the evolution of the investor due diligence process.
Today, this process has expanded to encompass both qualitative and quantitative aspects of a fund and its performance. In order to successfully raise capital, managers must be able to articulately convey their value proposition, the components of their performance and the risks they take to achieve that performance.
What Performance, Relationship, Innovation and Values have in common is that each is an arena for enhancing, focusing, or suppressing peoples’ energy. It follows that the projects with the most available energy are far more likely to succeed. Good ideas and the force of will are not enough.
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