At times, it can be observed that companies possess great assets and net worth. They may also comprise of great people and immensely valuable resources. There may be no dearth of great intellectual capital and the presence of even greater opportunities. However, despite all these pros they may still be expending excessive energy and suffering considerable loss in the output. The reason behind this can be attributed to the loss emerging from operational process failures, which are directly responsible for some of the greatest opportunities slipping out of hand.
One of the best examples of a failed strategy in our day-to-day life is that of our personal health. We suffer countless pains and diseases because of the process in which we take care of our health such as diets, sunlight, smoking, exercise, sleep, pesticides etc that are often ignored or deprioritised and hence our health asset is compromised.
On similar grounds governmental waste, bureaucratic inefficiency and regulatory can sometimes push to the limit to even abandon or minimize the practice of governance leading to a level of confidence crisis in organizations.
The accurate alignment of business objectives, people and processes is a significant tool for the success of any organization. Sadly, enough in most cases insurance organizations tend to invariably underestimate the costs of neglecting to align the precise business strategy to the people and the processes. It has to be borne in mind that although operational processes could be the last things to be optimized, they are comprehensively within the reach to be worked on and transformed. This is often termed as the process paradox: one of the most accessible and profit enhancement opportunity, which often remains the most, ignored. Organizations that are currently underperforming on their development and growth objectives as well as profit potentials should take time out to observe the operations at processes that connect the organization to clients and partners. Optimizing these processes will enable the organization to empower its performance.