Insights from The Lab

Cognitive Business Value

Category: Cognitive Business Value


Cost Reduction by Eliminating “Junky Speaker Wire”
By The Lab Consulting Cognitive Business Value Cost Reduction
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Cost Reduction by Eliminating “Junky Speaker Wire”

Home-theater enthusiasts quickly learn a painful lesson. Their precious, expensive gear is only as good as its weakest link. Using “junky speaker wire” undermines the performance of their investment in premium speakers and amplifiers.

Today’s executives should learn from these audiophiles. Currently they under-invest in critical connections. Businesses buy expensive technology for core business operations and high-stakes risk-management requirements. But they skimp on makeshift, inefficient processes to connect these costly “components” to employees, data, customers and regulators. The result is the operations equivalent of “degraded audio”: degraded business value.

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Bank Productivity

Four Myths About Bank Productivity

Last year, I stopped in at the retail branch of a large North American bank.

I saw three tellers — and no customers. This misallocation of resources is not unusual. It is a well-intentioned example of one of the four biggest myths and miscalculations prevailing in today’s bank operating practices.

These myths lead to needless downtime, duplicative work and overservice—all of which are equally costly, whether they occur at a bank or on a factory floor…

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Your Finance Group Is a Value Factory

Your Finance Group Is a Value Factory that Benefits from Lean Transformation and Process Improvement

You might want to tour your company’s factory, distribution center or even its office furniture management group before you read this.

Just as it did in factories, a second dose of Scientific Management would deliver breathtaking levels of value in this knowledge worker population. And it is likely to begin in that most valuable and influential knowledge factory of all — The Finance Group…

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False Precision

The Siren Song of False Precision that Slows Down Finance Transformation Projects

“Measure with a laser beam, mark with a chalk line, cut with an axe.”
– Anonymous

Have you ever watched an improvement project stall out because someone demanded an impossible level of precision in estimating the results? Typically, the detail requested for the project far exceeds the company’s current practice – and does not affect the decision…

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Improvements from Start-to-Finish

Since opening its doors in 1993, The Lab has helped some of the best companies in the world become even better.