Business practitioners often use the term “best practices” when discussing improvement initiatives. That term represents practices that, when adopted, will have a positive impact on business performance. But there is more to best practices. To move past the label, business leaders must answer the question, “How do I know this practice is truly ‘best’?”
When it comes to best practices, business leaders should momentarily become Missourians and be guided by a “show me” mindset. That is to say, to determine which practice merits the label “best”, objective, fact-based assessment is needed. Benchmarking can provide leaders with a means to objectively identify practices directly tied to superior performance and eakthrough improvement. Naturally, decision makers will have greater confidence in adopting practices that have been validated by facts instead of opinion.