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Tag Archives: Trends



Benchmarking is a systematic tool that allows a company to determine whether its performance of organisational processes and activities represent the best practices.

Benchmarking models are used to determine how well a business unit, division, organisation or corporation is performing compared with other similar organisations.

A benchmark is a point of reference for a measurement. The term 'benchmark' presumably originates from the practice of making dimensional height measurements of an object on a workbench using a gradual scale or similar

The term 'benchmark' presumably originates from the practice of making dimensional height measurements of an object on a workbench using a gradual scale or similar tool and using the surface of the workbench as the origin for the measurements.

Traditionally, performance measures are compared with previous measures from the same organisation at different times. Although this can be a good indication of the speed of improvement within the organisation, it could be that although the organisation is improving, the competition is improving faster...

FIVE TYPES OF BENCHMARKING

  1. Internal benchmarking (benchmark within a corporation, for example between business units)
  2. Competitive benchmarking (benchmark performance or processes with competitors)
  3. Functional benchmarking (benchmark similar processes within an industry)
  4. Generic benchmarking (comparing operations between unrelated industries)
  5. Collaborative benchmarking (carried out collaboratively by groups of companies (e.g. subsidiaries of a multinational in different countries or an industry organisation).

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Whether you’re starting or growing your business, you need a business plan.

Your plan will provide the roadmap to achieve the success you want. The question shouldn’t be IF you write your plan, but how to write a business plan that will take your company where you want to go.

In its simplest terms, a business plan is essentially the answers to a comprehensive list of questions.

The first and most important question is this: where do you want your business to go? Stated differently, what do you want your business to look like in three, five or even 10 or more years? What level of revenues and profits do you want to have at that time? How many employees? How many locations? And so on.

Likewise, your business plan should answer these questions for a shorter time period, particularly one year. That is, what are your business’ goals for the current year, and what must you accomplish to make the year a success.

In answering these business planning questions, you naturally have to answer questions pertaining to each of the core business plan sections as follows:

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The world of work has changed. Successful organisations know something others don’t: slow, steady and consistent no longer win the race.

Competitive businesses today are fast, flexible and – most importantly - agile.

They create fewer obstacles to responding quickly. They take unpredictable, dynamic market trends in stride. They sidestep when necessary to keep moving forward because they’ve built a workforce based on a non-traditional model that is adaptable, fluid and responsive. They adopt simple, cost-effective processes through which they manage a workforce that is both connected and autonomous.

Competitive businesses today are fast, flexible and – most importantly - agile. They create fewer obstacles to responding quickly.

They take unpredictable, dynamic market trends in stride. They sidestep when necessary to keep moving forward because they’ve built a workforce based on a non- (more…)


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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
6. Survival

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:

Operational excellence. Business improve the efficiency of their operations in order to (more…)


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There comes a time in the lifespan of every organisation when the price to stay the same outweighs the price to change; when the old ways of working are no longer sufficient or get in the way of growth.

It is at this time that organisations, no matter their size, must examine the best organisational design for continued success.

Moving from startup to established business, pursuing new markets, or assimilating a newly acquired company all represent an opportunity and a challenge for leaders.

When organisation design is mentioned, many leaders minds quickly jump to the organisation chart — the “boxes and wires” of an organisation. While this is one of the more tangible, visible parts of organisation design, the process is about so much more than moving lines on paper, as simply changing reporting relationships rarely has a lasting impact on the way a company functions.

In fact, you should leave the organisation chart until the end of the design process.

Good organisation design establishes new ways of operating, of relating to one another, of getting work done; it is fundamentally about using the architecture of the organisation to translate business strategy into operational reality. And while this can feel daunting, creating a strong organisation design does not require an army of consultants. An advisor with skills in this area can be useful but is not required if leaders understand the basic components of organisation design. Those components include:

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The Chartered Institute of Management Accountants (CIMA) produce a range of 'Topic Gateways' which are intended as a refresher or introduction to topics of interest to their members and others involved in the practical application of finance within organisations.

This Topic Gateway explains the concept of benchmarking.

To download this booklet: Click Here 

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The evolution of intrapreneurship has progressed from its inception but the adoption of intrapreneurship is still far from complete.  It reminds me of Geoffrey Moore’s book  ‘Crossing the Chasm’ Although Moore talks about the traditional Technology Adoption Life Cycle, it is safe to say that ideas or concepts like Intrapreneurship go through their own adoption cycle.

Much like the adoption curve for new technology highlighted in Moore’s book, ‘innovators and early adopters’ are engaged in some form of intrapreneurship.  We see pockets of intrapreneurship sprinkled throughout these organisations but it is far from being integrated into the fabric of the organisation.

There is also a gulf between those organisations that are engaged in intrapreneurship and those that are still sitting on the sideline.  A huge chasm exists between the ‘early adopters and the early majority’. Moore describes the early majority as ‘the pragmatists’ who wait until things have been established before they buy into a product or concept like Intrapreneurship.  This reluctance to adopt intrapreneurship is happening in some of the world’s largest organisations. It is especially true when it comes to social intrapreneurship.

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