Certain phases of this research project will take place with selected companies.
The first phase includes the following components:
- Implementing Vast Improvements
- Measurements to determine the economic value impact of company decisions on customers, employees, shareholders, suppliers, and the communities that companies serve so that better resource allocation and action sequencing decisions can be made (if you think that sequencing is not important, try to win a chess match by putting the right moves in the wrong order)
- Measurements to define the largest and most easily improved undeveloped profit and cash flow potential, and direct strategic and operating action toward rapidly capturing that potential
- A management process that will deliver new capital at a marginal cost of less than zero
At the current time, there is a steering committee composed of executive volunteers. In the past year, they have helped the project by reviewing the research plan and providing direction to the initial research activities. Mitchell and Company works under the direction of the steering committee.
The research plan is unusual in that it assumes that the project does not yet know the best process for answering the questions that it has posed. As a result, many different questioning processes will be used. We need your help in answering them as well as locating other relevant areas. Some of these include:
- Assuming and projecting what 400 years worth of economic progress will be, and asking how that level of performance can be achieved today (as well as determining if anyone is at that level now)
- Measuring as many companies as possible to see who the top performers are along a number of dimensions, and isolating the most important best practices that they follow
- Assuming that the ideas and information to create these results already exist, and trying to find the stalls that are delaying their widespread use while locating ways to eradicate those stalls
- Locating the best solutions to similar stalls in the past to major developments in human economic progress
- Describing the theoretical limits to best practices that would most likely create the economic progress desired, and finding ways to approach those theoretical limits with little effort and time
- Posing the question broadly to a large number of companies and people to see what processes and solutions they propose (using articles, a book we are writing, and this World Wide Web site will all help)
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