If a method can be devised to decrease waste, it would increase efficiency. Inputs can be reduced in many ways. Can you help them boost their reputation? It must be: Valuable—it is of value to consumers. If you do things how you have always done them, how can you expect to move forward?
Their either use cost leadership or differentiation to do that.
While most innovations are not going to revolutionize the way that all firms operate, the small innovations can reduce costs by thousands or even millions of dollars, and large innovations may save billions over time. Variety would not become a competitive advantage, and would be a waste of resources.
Labor inputs can be reduced if employees are better trained so that time spent on each individual output is decreased. What is Competitive Advantage Michael Porter defined two sources of competitive advantage for companies: lower cost and differentiation.
You must reinforce that message in every communication to your customers. If you are not quick enough to react, you are at risk of being overtaken by those organisations and businesses that can bring about change more efficiently and quicker than you.
The Eveready Battery Co.