Study: Performance Drivers 2024
WHEN IN CRISIS MODE, MANY ORGANIZATIONS LOSE SIGHT OF WHAT’S IMPORTANT
The often small-scale and rather knee-jerk reactions to the current polycrisis are increasingly taking up so much capacity in many organizations that long-term projects often fall by the wayside. According to the latest study “Performance Drivers 2024”, there are already three out of four organizations that have to cut back on implementing their strategic decisions. If they want to propel their business back towards high performance, though, organizations should abandon this passive attitude and instead systematically and courageously improve their performance.
about the study
For this study, more than 200 industrial companies were surveyed in Germany, Austria and Switzerland during the first quarter of 2024.
RARELY HAVE ORGANIZATIONS BEEN FACED WITH SUCH A WIDE RANGE OF CHALLENGES
The results of the study show just how challenging the economic situation currently is in the German-speaking region. 83 percent of the organizations report that they have rarely had to face such a wide range of challenges throughout their history. The spectrum of burdening factors range from climate protection measures to geopolitical uncertainties and internal problems. The greatest challenges for industry relate to the shortage of skilled workers and the economic situation.
I’ll never be able to achieve sustainability when improving operational excellence if I only prioritize whatever provides the quickest payback. Sometimes this is a difficult argument to have, but there are things that an organization has to do out of conviction that in the long term will pay off by accelerating the pace of improvement. Prof. Joachim Metternich, PTW Director at TU Darmstadt
key-insights
Despite the current uncertainties, organizations are cautiously optimistic
Economic stability ranks highest up on the scale
Improving efficiency is the order of the day
Organizations must reduce their operating and procurement costs
New technologies are driving operational excellence
The path to a more resilient company starts with dedicated employees
AI, AUTOMATION, DATA ANALYSIS
Three out of four companies expect an economic boost as a result of the new technologies. The organizations assume that digitalization will now also deliver on its promise of great productivity.
ORGANIZATIONS SEE PROCESS OPTIMIZATION AS THE GREATEST LEVERS FOR PERFORMANCE IMPROVEMENT
If you want to drive your business back to top performance, you simply must stop being passive. Organizations are now called upon to boldly and purposefully increase their performance and thus realize the additional resources that are urgently needed to invest in digitalization, new markets, and new technologies. Wilhelm Goschy, CEO Staufen AG
ORDER OF THE DAY: OPERATIONAL EXCELLENCE
In view of the increasing competitive challenges, operational excellence is consistently growing in significance. The results of this study underscores this as well.
An Operational Excellence strategy is not the sum total of each of the many single measures, but instead the product of process improvement, employee empowerment and managing an organization’s financial performance. This interplay is what ultimately leads to what we at Staufen understand as Operational Excellence.
Learn more about this in the article: The Success Formula for Operational Excellence
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Optimize production processes – shorten decision-making processes
