Efficiency is about making the best possible use of resources. Efficient firms maximize outputs from given inputs, in other words they minimize their costs. Why is it so important to focus on operational efficiency? By improving efficiency, a business can reduce its costs and improve its competitiveness.
As a matter of fact, efficiency isn’t just about reducing costs; other business objectives, including service quality, still have to be achieved in order to keep existing customers and revenues. Many organizations are too concerned with costs and they are not aware about the fact that the real business value could be destroyed if approached purely as a cost cutting exercise. Namely, improving efficiency could be taken as an opportunity to increase the welfare of all the firm’s stakeholders by simply reducing wastes.
In such a scenario, during the 2018 Capital Markets Day, Enel has clearly expressed its strong commitment in terms of operational efficiency, by presenting to the market a challenging 3-years efficiency plan aimed at the simplification of the corporate structures. Indeed, one of the strategic pillars of the latest 2019-2021 plan foresees an amount of 1,2bn€ for cost efficiency in 3 years. The main goal of this program is to maximize the Group’s value, optimizing the balance between risk and opportunity. This activity will continue to preserve the core involvement of the people who are part of Enel and local communities and ensure sustainable long-term industrial and socio-economic growth.
Enel is seeking a way to be more efficient in a sustainable way. According to our Open Power approach, everyone can be involved in presenting creative ideas or new approaches for transforming obsolete and redundant processes by:
- Identifying wastes, propose a way to cut anything that does not add value to our activities
- Rethinking the way we develop our everyday activities at lower costs.
The challenge is addressed to all Enel workers at any level. You can decide to participate either alone or in group and each participant is free to present more than one solution.
The submitted proposal should include the following key drivers:
- Rationale for the proposed idea and explanation of the current process it is going to rethink or modify
- Main and tangible benefits the new idea is going to bring; any supporting information with regards to its feasibility and economics
- Any formats of materials showing the inefficiency of the actual process (pictures, videos, cost statements) that could be useful to support and explain the proposed solution, if available.
The proposal should not include any information the Solvers may consider as their Intellectual Property they do not want to share.
SUSTAINABLE DEVELOPMENT GOALS
This Challenge provides contribution to the following Sustainable Development Goals to transform our world:
- SDG 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
- SDG 12: Ensure sustainable consumption and production patterns.
For questions regarding the challenge: email@example.com.
For technical support: FAQs or OpenInnovabilityfirstname.lastname@example.org.