Innovation is the implementation of a new and useful idea from the creation of a successful, practical application. Innovation Management influencing factors i.e internal and external factors Internal factors: market segments business customer structure cooperation legal framework and property rights Seven related areas of business innovation that we can come across in an organizational system … Read more
What is the Strategy Map A strategy map represents how the organization creates value by connecting strategic objectives in explicit cause-and-effect relationship with each other in the four BSC objectives (financial, customer, processes, learning and growth). The basis of a Strategy map consists of the following perspectives: FOUR COMPONENTS OF … Read more
Porter’s model provides a useful Corporate strategy framework for our analysis. As can be seen from the model below, the competitive environment includes not only the output market but also the input market as well. Generally, the forces of competition will drive the industry towards a profit level which is sufficient to keep the corporate … Read more
Meaning of Marketing plan is an interactive tool to help you compile a professional, high-quality marketing plan for a new or existing business. Benefit in preparing a Marketing plan in an organizational system helps identify the characteristics of your target markets, market sizes, and competitive factors, It documents how you’re going to sell to your … Read more
Change Management is the process of identifying the need for change, deciding on what change is required, evaluating the implications of change, developing and implementing change programmes, overcoming resistance to change, seeing that change takes place as smoothly, and ensuring that the change is embedded and effective. Other definition of Change Management Change management is … Read more
NINE AREAS TO ASSESS A COMPANY’S LEVEL OF BUSINESS PROCESS MANAGEMENT IMPLEMENTATION. PROCESS AWARENESS (PEOPLE INVOLVEMENT) Do your employees, management think in the process? What is the level of people involved in process definition, analysis, and process improvement? What level of change management method has been deployed? Has continuous training been aligned with processes? PROCESS … Read more
Introduction to Total Quality Management. Organization from organization find it very difficult to achieve the benefits that are involved after adopting Total Quality Management approach in their system and they continue to struggle of what could be the cause of such problem in their system, the aim of this article is to throw more light … Read more
Introduction As a business owner, you already have some possible solutions in mind. However, before you choose the best solution, you need to identify what needs to be done to meet this objective. This is where Gap Analysis is very useful. This simple tool helps you identify the gap between your current situation and the … Read more
Organizational System whether large or small have limited resources. The planning process provides the kind of information to top management need & aspiration to make effective decisions about how to allocate these scarce resources in such a way as to reach there existing goals and objectives. The organization planning system is the process of identifying … Read more
INTRODUCTION What is Benchmarking? It is simply the comparison of one organization’s practices and performance against those of others. It seeks to identify standards, or “best practices,” to apply in measuring and improving performance. Why Benchmark? 1) Identify opportunities 2) Set realistic but aggressive goals? 3) Challenge internal paradigms on what is possible? 4) Understand … Read more