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The Salt Lake Tribune, Business Insight - Surviving a Downturn What's your best advice for surviving a business downturn? When times are tough, businesses need to quickly find ways to increase sales and reduce costs. Every company has lots of ideas for improving its results, but it is important to realize that the most obvious ideas aren't always the best. Brainstorm with all levels of staff - junior employees responsible for day-to-day tasks understand a different side of the business than the senior-level executives. Be open to testing out-of-the-box ideas, because sometimes the quirkiest lead to the largest breakthroughs. What is the Multivariable Testing process? Multivariable Testing (MVT) is a process that allows companies in all industries to test improvement ideas - dozens or even hundreds at a time. It identifies strategies that are practical, fast and cost-free that help to rapidly and dramatically improve profitability and company value. Combinations of ideas are then implemented into the company's everyday functionality, and results are measured to determine which factors are helpful, hurtful or have no impact on company goals. Statistically it has been proved that 25 percent of ideas help, 25 percent of ideas hurt and 50 percent have no impact on the desired results. Request a reprint of the entire article. |
Since 1982, QualPro has used Multivariable Testing (MVT®) with 1000+ companies to test 100,000+ improvement ideas. MVT® tests between 20 and 40 ideas simultaneously, accurately predicting the bottom-line impact of potential process changes in as short as 12 weeks. Take existing process initiatives, like Six Sigma, to a whole new level. All process improvement tools and approaches (TQM, DOE, Six Sigma, Re-Engineering, SPC) can be enhanced through the use of Multivariable Testing® by QualPro.
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