CHAPEL HILL, N.C., June 20 /PRNewswire/ -- Quality initiatives can pay off for organizations, although developing reliable measures to link quality to financial results is difficult. But the more mature the quality programs, the greater an organization's ability to link business outcomes to specific quality metrics, according to recent research from benchmarking leader Best Practices, LLC.
The study found 86 percent of the firms that described their quality programs as mature/world class had established a correlation between cash flow and a specific quality metric. Only 57 percent of the study's total benchmark class, however, was able to make the same claim.
The study, Measuring and Demonstrating the Value of Quality Initiatives, delivers insights that will assist quality leaders in developing mechanisms to demonstrate the value of quality initiatives to organizational stakeholders.
To review the study's key topic areas or a complimentary excerpt, click or paste this link into your browser: http://www3.best-in-class.com/dr318.htm . The study was based on survey results and interviews with 28 companies, including, 3M, Becton Dickinson, GlaxoSmithKline, Kraft, MetLife, J&J and Xerox.
Some of the study's other findings include:
-- 100 percent of mature quality organizations employ benchmarking to drive operational improvements, nearly 20 percent more than average performers.
-- 89 percent of mature quality organizations employ Kaizen -- continuous improvement tactics -- nearly 30 percent more than less mature quality-driven firms.
The study is just one example of the wealth of insightful research that's available in the Best Practice Database, an online resource containing more than $30 million in proprietary research conducted on behalf of executives from Fortune 500 companies. You can use this tool to quickly locate studies that identify best practices and metrics in the areas most important to you and your company. To have a better understanding of Best Practices Database, sign-up for a complimentary tour by clicking here: http://www3.best-in-class.com/dw212.htm
For more information, contact Grant Houston, Research Analyst at (919) 767-9182 or firstname.lastname@example.org, or visit Corporate Website: http://www3.best-in-class.com
ABOUT BEST PRACTICES, LLC
Best Practices, LLC, a pharmaceutical research and consulting firm, conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class organizations. For more information, call 919-403-0251 or visit http://www.best-in-class.com/.
|SOURCE Best Practices, LLC|
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