Best Practices in Brief
It is tempting to find and adopt best practice for any new product or service. Yet research shows best practice can be harmful as well as beneficial. Below are three tips on whether to make the most of, or reject best practices:
- Costs structures. The "best" may be expensive and time-consuming. Determine whether being the best is worth it. Will the customer pay for it? Will you have the time or energy to achieve it? Do you have the resources to deliver on these best practices?
- Consider the context. Best practices work for a particular organization in a particular market at a particular time. Always adapt best practices to fit your company's unique culture and situation.
- Be critical. Sometimes best practices just don't make sense, as we just imitate our competition. Just because competition labelled it "best" doesn't mean it is. Think critically and strategically before using any best practice.
Dr Tazeeb Rajwani is a Lecturer in Strategic Management at Cranfield School of Management