Tag Archives: Growth
Six reasons why information systems are so important for business today include:
1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
The emergence of a global economy, the transformation of industrial economies, the transformation of the business enterprise, and the emergence of digital firms make information systems essential in business today.
Information system is a foundation for conducting business today. In many businesses, survival and the ability to achieve strategic business goals is difficult without extensive use of information technology. There are six reasons or objectives why businesses use information system:
In this 'Be Inspired' interview, Paul Bridle speaks to Roger Martin-Fagg, a behavioural economist, about the direction business should go in the next 5-7 years and the importance of innovation.
I am seeing the word 'Entrepreneur' used a lot these days and in many cases it refers to people that are not Entrepreneurs at all.
There is a lot of difference between someone that builds a business and an Entrepreneur.
The trouble is, the word comes from French:
1875–80; < French: literally, one who undertakes (some task), equivalent to entrepren (dre) to undertake (< Latin inter- inter- + prendere to take, variant of prehendere ) + -eur -eur.
So basically it refers to an employer or business owner. However, over the years we have used it to describe someone that starts a business or develops a business normally in an innovative or creative way and often against significant odds.
Now we seem to be using it liberally to describe anyone starting up a business or owning one.
I think that is sad. We should be able to differentiate those that are simply running or building a business and those that are reinventing businesses.
The parallels between the game of golf and being in business help us understand where we should focus and what should be important. Golf is a game where the player is largely competing against himself and seeking to improve ways to improve his performance.
In this video, Paul Bridle will look at other important parallels and why this is important to business and the way we approach our business every day. If we approached business in the way a golfer approaches golf, it may make a significant difference to our performance.
During the lifetime of any organisation, it may from time-to-time require the support of an external business advisor, consultant or coach – but what is the difference and how can they help?
There’s a certain amount of confusion in the business community about these three roles. Ask ten people, and you might get ten different answers.
Here is just one set of definitions for you to consider.
Business Advisor: Is pretty much hands-off. They are called in to assess, advice, and counsel on a topic or set of topics. They provide their recommendations - and then they walk away. There might be follow-up discussions, but generally the actual implementation of any recommendation is performed by company staff. Their only hands-on work usually involves writing up their recommendations.
A Business Consultant: Usually performs at least partially as an advisor, offering advice & recommendations - but then they go hands-on to implement their recommendations alone or in concert with company staff; whether it be a new strategy, technology, problem-fix, etc. (more…)
There are plenty of legendary bad business decisions: Blockbuster passing up the chance to buy Netflix and Kodak sitting on the digital camera just two that spring to mind.
But there are also some legendary smart moves: "I'll have the merchandising rights in exchange for a smaller pay packet," said a certain film director George Lucas.What separates good companies from great companies, and good leaders from great leaders is decision-making. And there are four key decisions that you need to nail if you want to see your business grow.
1.Decide… on the right people to work with
No company can work towards growth without good employees.
Google's recruitment processes and incentives, for instance, are geared towards attracting and retaining the best available talent. Hammocks, arcade games and free ice-cream may not be your thing, but just like Google, your staff are vital to your company's growth, and just like Google, you want the best available talent.