A business that runs efficiently is a successful business. When your operation is running efficiently it makes everything much simpler, faster and better for both you and your customers. This is true of all businesses in all different industries. One of the more common issues that many businesses face which stops them from running efficiently is their storage system. If your business owns a warehouse for storage then this will be the hub of your operation, and you will need it to be easily accessible and well organised. Too many organisations warehouses are poorly managed and arranged, and this makes it hard for them to succeed as it is difficult to locate and move items in and out of the warehouse. Continue reading “Improve your Efficiency with a New Storage Solution”
There are a great many ways to help a business to succeed. Would-be entrepreneurs need to keep an eye on every aspect of the organisation, from the most efficient way to use electricity to the best sanitary bin disposal arrangements. You need to be ticking every box when it comes to establishing commercial services within the workplace. Continue reading “Constant reviewing is the key to a successful business”
Business Process Outsourcing on Cloud- Reaping High ROI
Cloud brings in a great deal of benefits for different type of businesses, to cut costs and improve efficiency of different business processes. From SaaS to Iaas, there are about countless ways through which business can implement cloud to outsource their critical system and processes.
This article is going to discuss how in-take of cloud based solutions for BPO helps in gathering momentum.
Using Cloud to get The Maxim
You are going to get an ample of examples of where cloud computing has been done, for instance – an organic baby food manufacturer may be using the cloud to streamline its massive logistics, while other firms are thinking to sign up for cloud-based HR services.
This article focuses on the way various BPO companies are picking up clouds from market to test the environment, so that they execute more processes to their clients.
However, there is an interesting caveat to note here, is the suggestion that use of cloud is still in its early steps and 13% of business process outsourcing services is already cloud-based. With cloud call center services are able to cater massive amount of scope to businesses that are able to derive advantage from these benefits.
CLOUD- Driving Benefits for BPO
With cloud computing and business analytics, new life has been injected to BPO sector through reduced upfront costs and better use of data.
IT enabled BPO services has a large role to play, and they can be fine tuned to cut costs, but the best performing BPO deals are using IT to innovate and speculate.
Recent researches affirm that 20% of BPO projects are able to deliver sufficient business value for high performance. The findings from the research confirm the changing role of technology in BPO.
Software-as-a-service (SaaS) means businesses can introduce the applications used in BPO agreements without giving large upfront payments. Business magnets are of the opinion that best-of-breed technology is easily available and are easy to apply.
They further added, earlier BPO agreements are usually overloaded with cost-loaded technology. In past a business have to purchase license and then install heavy-duty business applications as a part of BPO deal, but now they can easily sign up for BPO services and easily scale up and down the number of users.
What is the concept of researchers on CLOUD, used in BPOs?
- 85% of high-performing BPO considers cloud service provider to be a strategic partner, compared with 41% of typical BPO services
- 75% of high-performance BPO involve senior leaders from both parties spending time to understand each other’s objectives and strategies
- 90% of high performers reported that client and provider were able to productively resolve conflicts
- 77% of high-performing BPO have successfully executed change management plans
- 85% of high-performing BPO proactively refine their objectives as the relationship matures
- 67% of BPO include business benefits beyond cost in the business case, compared with 26% of typical engagements;
- 58% of will consider service options with greater value, even at higher costs
- 56% of high performers seek competitive advantage through BPO
- 64% of BPO places more focus on capturing other benefits as they achieve cost reduction
- 54% have contract performance incentives in place
A new approach to cloud computing is helping enterprises to recognize more of the business transformative aspects, such as improvements to productivity, business agility and business continuity as they present plans and sells concept to management teams.
Author Bio: Emma Johnson is an outreach expert and is closely associated with lead generation and telemarketing services. She is in contact with inbound order taking services that are popular for their prompt answering services to appease both client and customer with quality outsourcing.
The source of a sustainable competitive advantage for any organization is derived from the access and subsequent exploitation of resources, and today, knowledge is being heralded as the most important of such resources that is available to organizations (Drucker, 1993). For the larger and mature organizations, often process capability knowledge is the primary source of advantage, whereas for the organizations seeking to grow and out-grow competition, in addition to process capability knowledge, knowledge management focus would also include market knowledge, rapid product development, or the creation of knowledge through research. However, it is important to recognise that even mature organizations need to create knowledge to avoid falling into the stagnancy pit. This is exactly what knowledge management attempts to provide more succinctly to the organizations. Knowledge management aims are to create conditions under which competitive advantage can be maintained, by creating, acquiring, retaining and exploiting the knowledge for the welfare of the organisation.
Knowledge management is the way organizations today are attempting to make the otherwise intangible knowledge tangible and distributable, throughout the organization, in search of the illusive competitive advantage. Today, in this evolving world where insights on data or business intelligence plays an extremely crucial role for the sustainable development of an organization, knowledge management has become a key area of focus.
Beckett et al. (2000) has provided an interesting framework by which many organizations are actually managing their data within with a growing focus to manage the data outside the organization also. Through research, the authors highlight how effective knowledge management can provide a wider scope of continuous improvement to obtain benefits for the parent organization, by providing higher quality information, better quality information, removing information asymmetry, and subsequently increasing the levels of organisational expertise which can be applied to it to create substantial improvements for the organization.
The sole focus of organizations today is to convert internalized tacit knowledge into explicit knowledge, so that it can be commoditized and less dependency is there on an individual for being the source of knowledge. With a high attrition rate in organizations across industry, it becomes extremely pertinent that knowledge once created within the organization stays inside the organization and does not become unusable once the creator of the same changes base, within or outside the organization. That is the sole objective of the initial knowledge management systems.
For improving the knowledge management practices within the organization, companies today are increasingly adopting rewards systems, collaborative systems, post-project reviews, knowledge mapping, establishing communities of practice with cross-project learning platforms, creating expert directories, competence management systems, best practice transfer, mentor-mentee relationships, knowledge fairs, formal knowledge repositories, measuring and reporting intellectual capital, knowledge brokers, social media and social network mining systems.
While it is important for organizations to understand the importance of knowledge management systems, even one aspect that many organizations often overlook is using the knowledge outside the boundaries of the organization, but within the value chain. Realizing this, the recent focus has been the development of customer knowledge management systems, where customer tacit knowledge is use to co-create value for the customer in the best possible way, and finally value for the company. Another group of stakeholders who are being introduced into the knowledge management realms are the supplier networks, where knowledge management is often used to create otherwise non-contactable value for the stakeholders. The way forward for knowledge management systems into the future is to capture the tacit knowledge outside the organization but within the value chain (and within multiple stakeholders) to create value for both.
Today, it is pertinent that all the senior executives of organizations realize the potential benefits of effective introduction and management of knowledge management systems, that can benefit the organization. Today, while organizations are facing increasing levels of competition due to the effects of greater competition, knowledge management provides an important way for organization to utilize the most valuable resource available to them, to gain competitive advantage.
So what would you do if your firm is facing problems from lowered revenue generation due to a dip in market conditions? If your boss breathing fire over your back, especially if you are in the sales division? Possibly although you are doing your best, still the sales of the company is dipping. Even if the general conditions of the market is bad, there is so little you can do.
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Product life cycle management (or PLC management) is the sequential formulation and implementation of strategies used by Marketing Professionals as a product goes through its life cycle. The conditions of the market in which a product gets sold changes over time and the issues that arises with the changes must be managed as the product moves through its succession of stages. Continue reading “Product Life Cycle Management”
Impression management is crucial in a job. While it is important that you put across your ideas, talking too much without proper substance is also not recommended. Check out what happens when you talk too much without delivering substance.
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Remember: The product of quantity and quality is constant. The constant value depends on the individual.
Strategy can be best understood through simulation games. What better training for a manager than to understand business strategy than to react to simulated market responses as provided by these games? Simulation games ensure that the attempted knowledge imparted in classrooms are driven to the core of the students to a stage where it is assimilated and can be implemented by the student, rather than staying at a superficial text-book knowledge level.
If you as an instructor or a student are still not sure how these strategy simulation games will help you, this article may interest you “From e-learning to games-based e-learning: using interactive technologies in teaching an IS course”, by Thomas M. Connolly, Mark Stansfield, published in journal, International Journal of Information Technology and Management, Volume 6 Issue 2-4, June 2007
- Mike Bikes advanced strategic simulation game ensures learning whereby students form the management team of a Bicycle Manufacturing company making all the key functional decisions involving Price, Marketing, Distribution, Finance, Operations, HR, and R&D
- In Industry Player (.) comby Tycoon Systems, students create and manage their own company. In real-time, they experience a multiplayer competition for market leadership and shareholder value within a simulation of real world economy.
- Marketplace-live is an advanced simulation game students start a firm in the microcomputer industry. Students experience real time challenges in Marketing, Product Development, Accounting, Finance and Manufacturing Fundamentals, Financial Analysis, Business Partner Negotiations, Human Resource Management and e-Commerce.
- The Price Strategy Simulator by Michael Bean ensures students get a feel of pricing strategies at war through a simulation of Price Wars amongst Hewlett-Packard / Compaq and Dell. IBM enters the competition and an excellent pricing strategy simulation learning is ensured.
Faculties and students who would be interested for more details on the use of Simulation games would be encourage to buy this book from Amazon “The Global Business Game: A Simulation in Strategic Management and International Business” by Joseph Wolfe. Now, using the Amazon banner in this website, Business-Fundas readers can avail of a special discount.
While most of the previously mentioned games were for Business School students, there are quite a few games which will develop the intellect of younger students. A few descriptions of the same are provided below.
- In a world of online simulation games, where dexterity of the thumb and index finger is infinitely more important than the flexing of the cerebrum, there is a deep need to interact and actually learn something from that overpriced multimedia computer/gaming system. One such game is the ROMper Room, where focus is more on intellectual stimulation.
- Some basic Strategy and Time Management online games are also available at freeworldgroup website. These games are meant for those who are attempting to enhance their personal development skills and time management skills although they may seem redundant to graduate management students.