Business Best Practices Point the Way to Better Performance

Enterprises striving for operational excellence can increase their likelihood of success by leveraging a high-quality repository of business best practices. But how do you decide which system of business best practices to use – how do you find the “best of the best”? Several selection criteria can help you choose a business best practices resource that will deliver measurable performance improvements to your enterprise:

• On what grounds are the business best practices based? What is the empirical evidence behind the best practices?
• To the extent that the best practices are derived from study of real-world businesses, how robust is the sample size? To justify a conclusion that certain business practices are the best, those practices should empirically correlate with improved performance.
• Is the business best practices resource based on a carefully drawn taxonomy that facilitates reliable comparisons across companies?
• How granular is the business best practices repository? Broad guidance is helpful, but proven best practice insights by functional process and activities enable detailed action plans that accelerate improvement.
• Does the best practice repository include implementation guidance? Understanding current performance levels is important, but knowing precisely how and where to improve is invaluable.

The Hackett Group delivers the best of the best

The Hackett Group^®, a leading global strategy and operations consulting firm, offers unlimited access to our industry leading benchmarking and best practices repository as part of our business advisory programs. Our best practices repository is the ideal resource to support your business process improvement initiatives:

• The Hackett Group has completed more than 26,000 business benchmarking studies, providing us with unrivaled benchmark data and process metrics, as well as insights into the performance of peers and world-class organizations across functions. All of that key content comes from our proprietary business best practices database. It is the result of nearly a quarter century of performance benchmarking with more than 9,100 organizations around the world.
• In our benchmarking and best practices repository we employ a rigorously defined taxonomy of corporate functional processes and activities that ensures reliable comparisons across different organizations.
• The Hackett Group’s business best practices repository defines more than 2,050 best practices across nearly 100 process areas and breaks functional processes down to the activity level.
• In combination with best practice definition, The Hackett Group’s best practice repository delivers implementation guidance that highlights prerequisites, risk factors, and risk mitigation techniques for specific practices, as well as helpful implementation tools such as process-specific questionnaires and templates. The Hackett Group can help you progress rapidly from best practice awareness to business process change.

To learn more about The Hackett Group’s business advisory programs, as well as our consulting solutions for specific needs such as finance strategy, shared services, outsourcing consulting and more, contact us.