What is Obliterate?
Definition: Obliterate, in business, means to destroy competition and gain more market share. It can also mean the process of business reengineering, which is the redesign of a firmís core business processes with the aim of enhancing productivity.
What Does Obliterate Mean?
What is the definition of obliterate? Automation as a method for boosting performance has failed to produce the required results. Firms with a heavy investment in technology have forgotten how to do business with their customers.
Obliteration offers a more sophisticated value system that emphasizes on customer needs. Companies are redesigning their core operations by adopting a cross-functional model, using technology only to disseminate information and assist in decision-making.
Letís look at an example.
Company A is a well-established technology company. Two years ago, the company faced customer complaints, mostly pertaining to the lack of adequate customer service. The companyís stock declined by more than 10% in a year, and some customers switched to competition. Therefore, the manager of the company decided that it was the proper time to obliterate the core business process in order to be more customer-centric and deliver the required results.
The company adopted a new value system, focusing on customer needs. It redesigned its core processes, seeking to eliminate time-consuming procedures and unproductive activities. It also trained its workforce to be more efficient. Some people were laid-off, while others were promoted as managers with the responsibility of organizing cross-functional teams. Employee motivation increased because the workforce embraced the change, seeing it as a means to be more productive while eliminating past inefficient behaviors.
Today, Company A has low cycle times due to accelerated information and fewer errors in the business processes. Employees are committed because they have seen that the company was seriously reorganizing its activities, seeking a paradigm shift towards customer satisfaction and retention. Also, the company improved the quality of its end products and services, thereby regaining investor confidence and boosting its profitability.
Define Obliteration: Obliterate means to wipe out the competition.
Search for more articles about this term:
Back to Accounting Terms