Every successful enterprise wants and needs to further its vision and to expand profitably in order to build sustainable advantage. To facilitate sustainability, processes must be integrated from their components in a form that is duplicable. Once integrated, the enterprise can further penetrate existing markets, or expand into new markets reliably to earn value through growth.
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The value of an enterprise increases when it can build a
network of successful duplicable activities. This approach
has been used by enterprises such as HSBC, McDonald's,
Royal Dutch Shell, Starbucks, and Walmart to expand in both
domestic and foreign markets as either corporate or
franchise systems, or both.
The
technique requires building a standardized business system
from duplicable processes, functions, facilities and
equipment with proven products and/or services in one
market, that offer potential in others. The technique is
applied most often by operators of bank branches, chain
department stores, drug stores, fast-food restaurants, gas
stations, and supermarkets. However, it is equally
applicable to internal administrative departments and
operational plants and warehouses.
The ingredients consist of a set of measurable, predictable, repeatable, and trainable processes that can be integrated together and with related functions, facilities, and equipment to form the business system itself. Standardized products and/or services are delivered through this highly routinized system as a bundle.
A vision may be realized with a single successful location; an aspiration may be realized through a global network of locations.
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The
system may start from a successful lifestyle business
enterprise at a single location, which with some fine
tuning, can be duplicated as an upwardly mobile enterprise
in both local and foreign markets. Or it may start from an
intentional strategy to build a network, with a proof of
concept in the first market to determine what works, and
what doesn't. Either way, once the recipe for success is
fine tuned, the system can duplicated as a corporate
network, or offered as a package to
franchisees.
It is
essential to include only those components that deliver
value effectively, efficiently, and economically, and shut
out anything that adds unnecessary cost. A distinguishing
factor of franchise systems from "mom and pop" enterprises,
is that whereas the cost of entry in a franchise system is
usually higher, the system has a higher chance of success
and earning value.
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The
duplicable principle is also used by network marketing
systems, which first offer products and/or services to
customers, and then show them how to duplicate the process
by offering the system to others. These systems are often
based on the notion of switching products and/services to
save money, and then showing others how to do the same
thing to earn money.
The
duplicable principle enabled Walmart to grow from a single
location in Rogers, Arkansas to the world's largest
enterprise in terms of revenue in less than fifty years. It
enabled McDonald's to become a global restauranteur, and
HSBC to become the world's local bank. It enabled Colonel
Sanders (Kentucky Fried Chicken) to have one of the most
recognizable faces in the world.
The
principle enables an enterprise to penetrate existing
markets with confidence, and to enter new markets with
anticipation and deliberation, although some local
adjustments may be necessary in foreign markets.
For
example, McDonald's offers vegetarian burgers in India in
accordance with local dietary customs.
The
principle also enables customers to recognize and patronize
their favorite establishments when traveling away from
home. Hotel systems, such as Hilton and Holiday Inn, and
car rental systems, such as Avis and Hertz, were built on
the duplicable principle because they were recognizable in
foreign markets, and perceived as safe and reliable by
their domestic customers.
The
principle also enables both employees and suppliers to know
what to expect in terms of materials, supplies, and service
standards.
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Deploying
the duplicable principle is an enterpriship
(entrepreneurship, leadership, and management) competency
that earns value through growth with reliability.
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From Nigel A.L. Brooks
http://www.nigelalbrooks.com
Article Source:
http://EzineArticles.com/?expert=Nigel_Brooks
http://www.scribd.com/doc/31892919/The-Duplicable-Principle-Earning-Value-Through-Growth-Reliably
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