Business process analysis focuses on the business processes. Business processes are all sequential and repetitive activities that occur in organizations on a continuous basis – day after day business processes create and deliver value for the organization and its customers in an effective and efficient manner. Example of business process include production process, product and … Read more
What is SCAMPER and how to use the SCAMPER tool to boost creativity? When you brainstorm new ideas for new strategies, new products and services, new processes… it is important to have fresh and new perspectives and step back to see the reality with a different mindset. However with the fast paced business environment … Read more
– Total Revenue (TR) which is calculated as number of products sold times unit price – Total Fixed Costs (TFC) generally this number will not change unless the analysis is for a large range / changes in the revenue – Total Variable Cost (TVC) which varies directly with the number of products sold The Profit … Read more
The Difference that Management by Objectives (MBO) Can Make for Your Business Management by Objectives is a form of goal definition within a business that allows the management and the rest of the employees to understand and agree on the same outcomes that need to be achieved by that business. The term was coined in … Read more
Traditionally business reporting in organizations has been organized through the use of data warehousing approaches with the purpose of managing multiple sources of data. The business dashboard reporting approach, which started in the eighties, brought to the table more sophisticated way of reporting and analysis through better data management and visualization. Today, as the business … Read more
R&D is a major part of many organizations in terms of success in the marketplace through developing new technologies, services, solutions, products, processes and know-how. The way those type of organizations measure their success is crucial for management because that drives the incentives and the direction of all R&D team members and activities. It is … Read more
Definition A marketing plan is normally a typical business plan document which is created for the business to explain the existing marketing situation and describe the marketing strategy for the short-term and/or long-term future. Based on the planning time period a typical marketing plan will be an annual plan. However, the time period can range … Read more