Many times we invest time, effort and money in hiring marketing gurus, advertising agencies or taking hours and hours of courses on digital marketing and at the end we do not know, nor can we, materialize in the correct way all they told us or we learned. In the end the investment does not has a return.
“Failing to Plan is Planning to Fail” -Chinese Proverb
The first stage of the DMAIC continuous improvement cycle is to define the problem (“Define”). In general, this phase often tends to be undervalued since the result is intangible and doesn’t provide improvement solutions. If you want to execute a successful improvement project in your company, which is focused on satisfying the needs of your clients, it’s better for you to start appreciating the importance of this phase.
Change is natural, and in the business world, it happens constantly. Different factors impact and change the structure of the industry and that of the markets. That is why companies must be alert and adjust their business models when necessary.
Nowadays there seems to be a lot of confusion regarding business processes since the term is widely used and heard, but many are not well aware of what it is. In this article, we provide all the necessary information about what business processes are and why your company needs them.
People's ability to innovate never ceases to amaze us as many companies develop excellent and sophisticated products. However, companies often lose their competitive advantage, why? Think of companies that dominated their industries and today struggle to maintain themselves. Some cases such as Nokia, Kodak, American Airlines, Motorola, among others, fell asleep in the commodity of success and ultimately failed because they did not adjust their business models to the changing environment.
Change is natural and in the business world, happens constantly. Different factors impact and change the structure of the industry and markets, generating pressure for companies to be vigilant and change the focus of their business when necessary. The size of the changes that companies must make to maintain or improve their position does not matter, however, these must be planned and executed carefully. The thing is, how do you know that the company is ready to evolve?
Below we share 12 clear signals that indicate that it is time to change your business model.
In 2008, Alex Osterwalder developed a tool to facilitate the analysis, mapping, and visualization of a company's business model. The “Business Model Canvas” is a summary (about the size of a page) of the strategic details that a company needs to generate, deliver, and capture value. The tool is divided into nine blocks that allow you to keep the focus on the most important strategic elements of your business.
The internet allows companies to access a worldwide customer base, which means that companies face unprecedented competition. Even niche businesses meet competitors from other parts of the world. CWhile this may bring some obstacles, companies can take advantage of the opportunities offered by globalization and place themselves in a position of competitive advantage. The value chain analysis helps companies implement, in a coordinated manner, all their actions to achieve either a differentiation strategy or a low-cost strategy.
Performing the value chain analysis will allow you to stand out from your competition, generate value, and strengthen your position as a leader in your industry.