Process Engineering – the magic triangle of success

It is neccessary when making any decision to maintain a balance between effectiveness, efficiency and innovation, or to bring these elements into balance. If a process change is only partially or unequally implemented, there is a real danger of negatively affecting other processes. 

A good example is Nokia. Over a long period, the exclusive focus of the company was on cost reduction, i.e. efficiency. By doing so, the areas of innovation and effectiveness were neglected. The cost optimization targets were indeed met, but only at the expense of innovation and effectiveness, which ultimately threatened the company's very existence. Only when all three elements are prioritized and treated equally can a company achieve success.