Businesses need agility. It’s not up for discussion; it’s a requirement. We’re at a point where 1-day shipping isn’t enough to satisfy customers. So, what timeframe is sufficient? Well, digital products must be downloadable instantaneously after purchasing — or else a customer takes their cash to the competition. When products aren’t delivered now, there are consequences: … [Read more...] about Do You Need Business Process Management?
business management
What is a Mission Statement
What is a Mission Statement or should we say, why you need a map when you go out of town. A mission statement is basically a statement that a company sets up when they first start their business. The goal of a mission statement is to guide the company towards the direction they're going in. For example, the mission statement for Starbucks is tied to its employees. It states … [Read more...] about What is a Mission Statement
How to Wear your Six Thinking Hats in Business Management
No, this doesn't mean you need to think with your baseball cap on, but it does mean that you need to think and prioritize with your business to make sure that you are successful. There are six thinking hats in business analysis and you should look at this as a way to help you to better understand how to make your business run more smoothly. A lot of companies that are growing … [Read more...] about How to Wear your Six Thinking Hats in Business Management
What is SCRS and Why It’s Among the Best Business Analytical Tools
As you look at your company, there are a few key things that can help you to better understand how to deal with your business and your customers. That's why the acronym, SCRS can help you; this is actually a series of four words that are set up so that you can understand different areas in your business. SCRS stands for strategy, current state, requirements and solutions and is … [Read more...] about What is SCRS and Why It’s Among the Best Business Analytical Tools
How CATWOE helps in Business Analysis and Decision Making
If you ever heard of the term CATWOE, no, you don't have to worry about it being a depression that cats go through or a time when cats are upset. It's something completely different. CATWOE is an acronym or a series of letters that make up a word. It's used as a business term and if you look at the six different letters, they stand for: customers, actors, transformation … [Read more...] about How CATWOE helps in Business Analysis and Decision Making
How the Coffee You are Drinking Might be Helping You with Vertical Integration
You might not know what vertical integration is, but chances are you use it every day. Maybe you stopped in a Starbucks recently and bought a cup of coffee. If you did that and you purchased a CD while you were there, or a pack of mints, you've used a form of vertical integration. What is vertical integration? Vertical integration is a process to companies use to help gain … [Read more...] about How the Coffee You are Drinking Might be Helping You with Vertical Integration
4 Reasons Why Marketing Data Analysis Is Important
Marketing data analysis is a technique where the business will take all the available information regarding the market and come up with a marketing plan. It is a very vital piece of activity for any sort of business. It also shows you how well you have done in the market using your current marketing techniques. It shows the progress and results of the past. Marketing data … [Read more...] about 4 Reasons Why Marketing Data Analysis Is Important
The 14 Principles of Management
It is not easy to manage a diverse team of employees. There are certain factors managers need to keep in mind when handling operations of an organization. Managers who were leading the way in the early 1900s had very little external resources to use and develop their management practices. Theorist Henri Fayol recognized this gap and built what is now the foundation of modern … [Read more...] about The 14 Principles of Management