Excellence is a combination of effectiveness and effeiciency.
Effectiveness is delivering exactly what the customer expected, exactly when they expected, and for a cost they were willing to pay.
Efficiency is deliverying it with minimal byproduct of waste, time, or cost.
Together, they represent two challenges to any organization. Strong and ongoing customer relationships are required to maintain effectiveness. Sustained Continuous Improvement is requied to improve efficiency over time.
Both campaigns require relentless focus.
Operational Excellence is achieved when an organization has visibilty into their internal key performance indicators and external service level performance driving their value propositions.
This level of visibility enables teams to apply techniques to ensures minimal operational drag due to the Hidden Factory, and provides targets for efficiency and effictiveness improvements.
More importantly, it frees up senior executives. Now they don't have to spend their time chasing around for status reports. Instead, they are free to focus their time growing the business.