As uncertainty grows across industries, small and midsized businesses embrace continuous improvement to stay competitive.
Developing a culture of continuous improvement is tied to a variety of beneficial outcomes, such as boosts in operational efficiency, customer experience, employee engagement, and profit margins, the new report notes. These traits make it indispensable as disruption and uncertainty grow across industries.
“More businesses are asking how they can maintain momentum through changing conditions,” explains Joel Rosenthal, Co-founder and Executive Manager at Charter Capital. “A culture of continuous improvement empowers teams to take ownership of progress, which is critical in today’s climate.”
He says business leaders often assume major process overhauls are necessary and tend to shy away from them during periods of uncertainty or disruption but notes even seemingly minor shifts can have a major impact on company culture.
For instance, simply pausing to appreciate an employee's suggestion shows that the initiative itself has value and that feedback is respected, Rosenthal notes. This encourages team members to speak up more often, which can lead to improvements across a wide range of areas, such as business processes, customer experience, and team dynamics.
“When businesses are growing or evolving, inefficiencies and bottlenecks tend to scale with them,” Rosenthal adds. “Getting the team involved in identifying issues and developing potential solutions is a win for everyone because it makes the business stronger and keeps employees invested and engaged.”
He believes that developing a culture of continuous improvement requires a top-down approach, with leadership modeling and rewarding the behaviors they want to see. Providing time and investment in opportunities to test ideas is also important. He says that many small and midsized businesses are turning to invoice factoring to fund this, as it provides immediate working capital without adding debt to the balance sheet. Those who would like to learn more about factoring or request a complimentary quote may do so by calling 1-877-960-1818 or visiting charcap.com.
About Charter Capital
Headquartered in Houston, Texas, Charter Capital has been a leading provider of flexible funding solutions for the B2B sector for more than 20 years. Competitive rates, a fast approval process, and same-day funding help businesses across various industries secure the working capital necessary to manage daily needs and grow. To learn more, visit charcap.com or call 1-877-960-1818.
Keith Mabe
Charter Capital - Factoring Made Simple
+1 877-960-1818
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