It’s called best practices and it means the best way of doing something. It’s what successful businesses know and do making them more efficient and effective in delivering value. Those businesses that do things less efficiently and effectively deliver less value, are less competitive and eventually go out of business. They don’t get to play the game.
Best practices is sometimes also known as infrastructure and it simply is all the support systems and processes needed to carry out the company mission and business plan. These can include communications, technology, software, accounting, human resources, sales and marketing, strategy, etc.
Businesses that do their homework well and join together their business model with good infrastructure and best practices create the potential to grow. It’s as if getting the business model and the infrastructure right is a ticket to play in the big game. Whether you agree or not, those are the facts.
But also note that nothing is guaranteed. Nor implied. Simply being in a position to grow does not mean growth and success. But at least at this point one gets a ticket to play the game.
Conversely,if a business does not get the model and infrastructure right it cannot grow and generate significant […]

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