Introduction
For the continual growth of all organizations, all management practices should be flexible to meet the continuously changing trends within and outside an organization. Different organizations employ varying management techniques, which depend on their goals and objectives. Best practices are standard procedures that help in achieving success in an organization. They encompass correct planning and active participation in management. For ensuring success, organizations modify the practices, depending on the complexity, magnitude, and personnel structure. These strategies help an organization to adapt to change, economic conditions, and resource availability (Visitacion, 2003, pp.1-2).
Best practices
Organizations integrate best practices in business using many mechanisms, namely: strategic planning, benchmarking, forecasting, performance monitoring, and financial planning. These practices demand one be a good leader, set attainable targets, clearly define organizational goals and plan well (Department of business, (n.d.), Para. 2-3).
Further, a well-applied strategy ensures that a business remains competitive at all times, workers have the required knowledge and technology is well utilized; hence, maximizing productivity. In addition, these practices when correctly implemented, reduce wastage in terms of costs and skills, hence encouraging creativity in an organization (Department of business, (n.d.), Para. 3-5).
Benchmarking
Benchmarking involves comparing individual businesses to other organizations. It gives a general view of businesses’ performance in comparison to specific standards. Benchmarking gives firms a basis for change recommendations (for innovation purposes). It uses special business indicators, which include defects, cost, cycle time, and productivity per unit measure. This process helps in strategic planning and management of resources, to meet specific recommended standards. The comparisons should be about competing company’s outcomes and sale volumes.
For effective monitoring of business progress, managers have to come up with key performance indicators. These indicators measure business progress using sales amount, staff returns, production quality, and profits gained. An organization should measure Performance, in terms of sales volume and customer satisfaction at all times. This helps in controlling the business and discovering deficits and areas that need improvement.
Correct sales and marketing strategies promote the viability and sustainability of any business. Due to changes and innovations in technology, organizations should use current marketing strategies. An organization must upgrade its marketing strategy continuously, depending on the availability of technologies. Internet websites, emails, and the use of newsletters help organizations to market themselves in world markets. Electronic media find wide application because many people can access them, are cost-effective, secure, and open up business opportunities and markets. In designing a personal website, an organization should check, competitor websites gather advice from design agencies, and consult all local business links.
In addition, the organization should conduct proper market analysis and apply correct marketing strategies. This guides an organization on the target market, customer requirements, and competing products. Comparisons also must check competing company’s prices, tender methods and media used.
For maximizing employee potentials, there is a need for wide consultation. Organizations should adopt that advocate for equality, and diversity. This is where benchmarking plays an important role because consideration of proper practices must be done. Good handling of employees maximizes outcome, hence all organizations must follow all work standards.
Conclusion
In conclusion, organizational practices must foster creativity and quality production. In addition, organizations must continuously update their goods and services, through benchmarking. All organizations must ensure management practices they adopt conform to standards, are flexible to innovations, and encompass easy planning and implementation.
Reference List
Department for business innovation. (n.d.). Best practice. Web.
VIsitacion, M. (2003). Project management Best practices: key process and common sense. Web.