Pros and Cons of Opportunity Zones in America
President Trump introduced one of the biggest tax reforms that the United States has ever seen in Dec 2017. As soon as the plan declared that the taxes on the rich will be reduced by $1.5 trillion, a huge debate started about the morality and the perceived economic benefits of such a move. However, it […]
Marketing Channel Systems – Meaning and Important Concepts
Introduction The last two decades have changed the way business is getting conducted. Some businesses are still using traditional channel systems but advent of the Internet has revolutionized distribution channels. Companies are changing business models to leverage Internet advantage. With open proliferation of information, customer expectations are reaching new heights. Companies need to figure out […]
Turning the Heat On: A Case Study of the Indian Solar Industry
The Reasons for the Push towards Solar in the Indian Renewable Sector Globally, there has been a push, and a movement towards renewable sources of energy given the fast depleting reserves of oil and coal as well as due to concerns over climate change and global warming brought about due to the burning of fossil […]
Information Security Threats in Organizations and Ensuring Prevention and Recovery
It has become commonplace in contemporary organizations to have extensive IT (Information Technology) infrastructure and software and hardware assets. Indeed, with the wholesome adoption of IT by organizations, there is no organization worth its name that does not have an IT backbone no matter how small it is. This means that organizations cannot function without […]
Drug Counterfeiting in India
The Indian pharmaceutical market is huge, and drugs worth billions of dollars are manufactured and sold every year in India. Some of these drugs are sold locally, and some are exported abroad. India is the fourth largest pharmaceutical market in the world whereas it is also the largest exporter of pharmaceutical drugs worldwide. This rapidly […]
To survive and grow your business in the current times, you have got to learn the ropes of business once again. If you look at the market, you will see a lot of brands and organizations that were in the fore front in the last few decades no longer exist.
The leadership in the market place in all areas has changed and every few years we are witnessing the change of brands making it to the top. To reach the top and to retain the same position as well as grow calls for building Organizations that are constantly evolving and are on learning curve all the time.
Simply putting, if you as an Organization want to survive and grow tomorrow, you have got to be able to keep learning, internalizing and changing your Organization and such change should be constant.
The days when the Top management took time to meet and take decisions and maintained the hierarchy is gone. Today’s CEOs do not need to spend time looking at improving the production process or the quality process and trying to aim for increasing the profits. The scene has changed.
Today’s CEOs are always busy planning for tomorrow and involved in strategic planning as well as making investments that will take the Organization ahead and build profitable revenue streams on long term basis. They are thinking ahead of ten, twenty and thirty year’s horizon.
Day to day business is managed and driven by the functional and Business unit heads. The ongoing daily operations are managed through business processes that clearly define and guide the business operations irrespective of the individuals who are operating within the system.
The case for bringing in the Business processes into your Organization begins with your customers. In the market which is characterized by competition, you will find that the Customer Expectations too have increased.
Gone are those days when a product of good quality and best price was preferred by the Customers. Today the Customers look at several parameters before they choose to patronize one particular brand.
Besides product quality, they look at the Organization, its reputation as well as the total Customer experience that they receive. An airline offering cheap tickets does not necessarily attract all customers.
The customers today look at the convenience and experience of flying starting from availability of web check in and the time taken at the check in counters besides the in cabin experience and the responsiveness of the airline staff. With the power of internet, customers today are able to write about their experiences in an instant and reach across thousands instantly.
At the end, the customers expect value for money, quality as well as an exceptional experience, which means that every transaction, the ambience as well as the process which is involved in the areas that touch or interface with the customer are evaluated.
In terms of retail shopping, the customer looks at everything from the feel of the store, the ambience, the lighting to the staff appearance, attitude as well as the process of invoicing, delivery and the ease of shopping and the overall experience.
To ensure that the same quality of service and the same experience is provided every time to every customer, the Companies have got to build and base their operations not only people but on business processes.
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