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Oliver Wight publish new executive guide to business maturity
Oliver Wight International has released a new executive guide to its world-renowned maturity model. The model categorises businesses as one of four phases, determining where they are so they know where they need to improve.
As the economy recovers, the launch of the new guide is timely. Les Brookes, CEO of Oliver Wight EAME explains: “To continue to meet customer demand in today’s constantly evolving market you need to keep improving. But attempting to make gains, simply by introducing the latest on-trend initiative is likely to end only in failure, disillusionment and significant cost. It is vital to make the right improvements at the right time, and in the right order.”
The Oliver Wight Maturity Model characterises businesses as being in one of four key phases of maturity and determines what is required for the organisation to progress from one phase to the next.
“By pitching organisations in the correct phase, the senior executive can truly understand where the business sits, visualise the benefits a structured improvement programme can bring, and propagate the journey to business excellence."
Only a handful of organisations worldwide can truly describe themselves as phase four companies, whilst 85 to 90 percent are in phase one or two. However, the transition from the bottom to the top of phase one can itself bring substantial performance gains, with organisations typically improving from around 70 percent performance, up to 95.
“Only by accepting the reality of your level of maturity - and that improvement is a long-term journey, not a short-term initiative - can a business begin to prepare itself for the performance levels it aspires to. It then becomes a matter of sequencing the appropriate steps for the improvement journey - once you know where you are and where you want to be, the next step is to understand how to get there,” concludes Brookes.