We stand on the brink of a technological revolution that will fundamentally alter the way we live, work and relate to one another. The Financial Services industry has seen significant change over the past nine years with unprecedented threats, increased competition, economic and market instability. It has adopted Lean thinking, with varying degrees of success, to help it overcome these obstacles which has ushered in a new way of working. But in 2017 the challenges remain and with statements like robotics can deliver “80% cost saves” commonly heard, it is no wonder many executives are examining how robotic process automation (RPA) can change the way they do business. This raises the question: is this the end of Lean in Financial Services or can technological innovations such as RPA enable a revolution of the Lean approach?
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Lean management plays an essential role in the success of lean businesses. Without a willingness to adopt a lean leadership approach, companies will struggle to fully realise the potential of the implementation of lean, so managing lean businesses requires a fresh approach, with managers needing to be more than simply a ‘boss’. This article presents our five essential lean management qualities needed to make the lean journey successful.
Due to the growing pressures on businesses to take a much greener approach, many companies are finding additional resources to help them become more environmentally friendly. Implementing a lean strategy, however, can actually help businesses to become eco-friendly organically without the need for significant investment. Central to the lean approach is to...
By their nature all industries and sectors are competitive and in order to thrive, you need to get and stay ahead of your competitors. Lean helps businesses attain competitive advantage by identifying the key strategic areas for improvement and then optimising the processes of each. This enables them to become more effective and efficient, build credibility within the industry and gain market share.
Lean thinking has produced some impressive results for organisations over a range of industries and sectors. The lean concept, popularised through Toyota, was created to cut down on waste and establish a more customer focused business. Since then, the principles of lean have been replicated and adapted to almost every industry and sector beyond manufacturing, as the...
Is Lean Thinking Only Applicable to Manufacturing? Lean’s success has been tried, tested and proven in manufacturing and with the service industry constantly growing, many in the sector are also looking at whether or not the same principles can be applied with the same impact. Some are sceptical and argue that methodologies intended...
Successful companies are always looking for new strategies to improve their business and generate more growth. However, introducing a new strategy to an established business structure does not always improve the quality of the business. It is much more valuable to apply a strategy which can tackle the issues within...