Question
Process improvement can significantly affect customer satisfaction in a positive way. By streamlining processes, reducing errors, and improving efficiency, companies can provide a better overall customer experience. This can lead to increased customer loyalty, more repeat business, and positive word-of-mouth referrals. However, it's important to note that process improvement should be customer-focused. That is, the goal of any process improvement initiative should be to enhance the customer's experience, not just to cut costs or increase efficiency.
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Studies show that companies embracing process improvement practices enjoy significant improvements in efficiency and costs, "Harvard Business Review"("HBR") reports. The University of North Carolina's Brad Staats and the University of Oxford's Matthias Holweg and David Upton examined 204 lean projects launched from 2012 to 2017 at a European bank with more than 2,000 branches in 14 countries and serving more than 16 million customers. The researchers strived to get to the bottom of why some improvements are sustained and others aren't. To achieve this, they looked at the lean initiative, started by the head office. Here is what Holweg and Upton discovered:
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