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What are best practices?


Best practices are simply the best way to perform a business process. Best practices are not the definitive answer to a business problem. Instead, they are a source of creative insight for business improvement. Adapting best practices to your specific needs can dramatically affect performance -- leading to breakthroughs that save time, improve quality, lower costs, and increase revenue.


Combined with the gap analysis provided by OPEXEngine comparative benchmarks, best practices can help you find effective ways to improve your operating performance. We recommend the following selection of current public articles on best practices. If you would like to share best practices which drive operational efficiency and growth, please contact us at:  bestpractices@opexengine.com


FINANCE AND CORPORATE MANAGEMENT

Why Budget Games Don't Add Up

Oct. 3, 2005

Managers can be adept at playing budget games, such as setting goals easily surpassed to win a bonus.  The problem:  such fictions lead to far-reaching consequences for your company.  From Harvard Management Update.  By Lauren Keller Johnson in HBS Working Knowledge.

Use a Rolling Forecast to Spot Trends

March 13, 2006

When used as a management tool, rolling forecasts have an edge over many other performance management systems.  This excerpt from the new book Reinventing the CFO explains how to make forecasts realistic and effective.  By Jeremy Hope in HBS Working Knowledge.

Nine Steps to Prevent Merger Failure

March 27, 2006

There are nine "deadly sins" that can mess up any merger, according to Harvard Business School and MIT graduates now working for Booz Allen Hamilton.  Most mergers fail at the execution stage--and execution can be fixed.  By Gerald Adolph, Karla Elrod and J. Neely in HBS Working Knowledge.

Growing from Startup to Grownup

Jan. 16, 2006

Transitioning from a good, small software company to a great one takes vigilance and willingness to experiment.  Here are five strategies for success.  By Greg Gianforte, RightNow Technologies, from Sandhill.com

Building a Platform for Growth

May 22, 2006

Sometimes building growth in mature industries means more than simple product extensions or acquisitions.  The answer?  Develop "growth platforms" that extend your business into new domains.  This excerpt from the Harvard Business Review reveals the common characteristics of companies that successfully built new growth platforms.  By Donald L. Laurie, Yves L. Doz, and Claude P. Sheer in the HBS Working Knowledge.

10 Tips for Evolutionary Success

October 2, 2006

By Tayloe Stansbury, EVP of Products and Operations at Ariba, at Sandhill.com

RESEARCH & DEVELOPMENT

Unraveling the Mystery of Software Development Success

Feb. 10, 2006

An analysis of productivity and success rates finds software vendors can improve the quality and cost efficiency of their product output by improving the quality of their requirements input.  By Joe Marasco, Ravenflow, from Sandhill.com

10 Tactics for Managing Offshore Costs

July 3, 2006

As some vendors talk of moving work back to the U.S., other vendors are employing best practices to maximize the business value of offshore operations while containing costs.  By S. Sandagopan, Satyam, from Sandhill.com

SALES & MARKETING

Time for Software Marketing to Grow Up

April 29, 2006

To improve ROI, software vendors must switch to sales-based -- rather than product-based marketing.  By Tom Hogan, Catapult Direct, from Sandhill.com

Should You Outsource Your Marketing?

July 4, 2005

Few companies own all the marketing expertise they need, especially of the left-brain, analytic variety.  Harvard Business School Professor Gail McGovern outlines the pros and cons of turning over your marketing activities to outsiders.  From HBS Working Knowledge.


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