Explore the Process Optimization of Business Expansion Under the Current Business Environment

2021 ◽  
Keyword(s):  
Process Optimization ◽  
Business Environment ◽  
Current Business

scholarly journals The Concept and Importance of Alternative Strategy as Parallel Strategy to be followed in Organizational Decisions to Ensure Success

2018 ◽  
pp. 1-15 ◽  
Author(s):  
P. S. Aithal ◽  
Architha Aithal
Keyword(s):  
Business Processes ◽  
Business Environment ◽  
Alternative Strategy ◽  
Competitive Strategies ◽  
Business Decisions ◽  
Strategy Model ◽  
New Strategy ◽  
Lateral Thinking ◽  
Generic Strategies ◽  
Current Business

Organizations and individuals usually have well defined objectives at any given point of time and invest their resources systematically to fullfill the objectives by setting their goal and formulating and following a strategy to chase their goal. Various strategies are used to chase the goal in both organizational and individual cases include competitive strategies or red ocean strategies, monopoly or blue ocean strategies, sustainability or green ocean strategies, survival or black ocean strategies, and mixed or white ocean strategies. The complexities of business decisions after globalization of business and technification of business processes, winning or sustaining or even surviving in current business is considered as an intensive challenge for organizations and also to individuals. In such environment called the turbulent business or social environment for organizations and individuals respectively, a new strategy for survival called “Alternative Strategy” is proposed in this paper and the concept of the strategy, its importance in the current business environment for organizational decisions are discussed. The paper also looks into the understanding of the Generic strategies, their applicability and constraints while identifying the importance of alternative strategy. Eight postulates are developed to support the concept of alternative strategy, and an alternative strategy model is suggested using lateral thinking techniques. The model consists of evaluating and comparing the alternative strategy with primal strategy using ABCD analysis framework. Such model of alternative strategy can be used at operational level, tactical level, and strategic level of any organization to realize its objectives.

scholarly journals ATTITUDE OF SLOVAK SMALL AND MEDIUM-SIZED ENTERPRISES TOWARDS RISK MANAGEMENT – INVESTIGATION OF THE REGIONAL DIFFERENCES

2019 ◽  
Vol 7 ◽  
Author(s):  
Matej Masár ◽  
Mária Hudáková
Keyword(s):  
Risk Management ◽  
Empirical Research ◽  
Regional Differences ◽  
Slovak Republic ◽  
Business Environment ◽  
Employee Education ◽  
Level Of Education ◽  
Customer Expectations ◽  
Long Time ◽  
Current Business

Contemporary trends highlight the need for education in each enterprise. The current business environment is characterized by many changes such as increased customer expectations and high levels of competitiveness in the environment. World trends, shows, that managers and owners of small and medium-sized enterprises (SMEs) perceived the need to take care of risk management in their enterprise. This issue has been analyzed and discussed for a long time. It is necessary to concentrate on this field mainly in the Slovak Republic. SMEs in Slovakia are very sensitive to changes in the environment. The aim of this paper is to investigate regional differences in the attitude of Slovak SMEs towards risk management, with special emphasis on the attitude towards significance of the education in the field of risk management based on empirical research, which was provided by authors in 2017. This paper will evaluate: the level of dependence between the selected Slovak regions and the created space for discussion about risks in SMEs, the level of dependence between selected Slovak regions and the created space for employee education in risk management in SMEs, and the level of dependence between selected Slovak regions and the required education possibilities in the field of risk management. It will use: association, the Pearson’s coefficient and the Tschuprov coefficient for evaluating the results. Overall results of the empirical research point towards the significance and importance of using risk management in SMEs. The results, shows, that there is a very large association between investigating dependence. Based on the results, it is necessary to improve the level of education in the field of risk management, which will be based on current entrepreneurial requirements.

Developing the Disruptors

2020 ◽  
pp. 23-40
Keyword(s):  
New Technologies ◽  
Deep Understanding ◽  
Major Change ◽  
Wicked Problems ◽  
Business Environment ◽  
Strategic Process ◽  
The Future ◽  
The Right ◽  
Current Business

Disruptive leaders possess a deep understanding of the nonobvious. Developing solutions with a heightened creativity, solving problems and addressing risks, finding the right tradeoffs, and recognizing the wicked opportunities in the wicked problems, disruptive leaders scan the environment, identify trends, and envision the future. Often, this is done by finding superior solutions, products, and services. However, this is done with a strategic process and plan. In our current business environment, right when we get comfortable, we find ourselves having to adjust to a major change that requires us to shift time, energy, and resources to solve a problem or stay ahead of the market, or change our market. Every change that we encounter creates winners and losers. If we are disruptive in our leadership, these changes can bring about fabulous innovation and create new technologies that benefit humankind. Building a disruptive organization is the best way to thrive. This chapter explores developing the disruptors.

Educating the Business Information Technologist

2011 ◽  
pp. 130-135
Author(s):  
John Mendonca
Keyword(s):  
Information Technology ◽  
Business Environment ◽  
It Professionals ◽  
Business Information ◽  
Framework For Teaching ◽  
Strategic Perspective ◽  
Current Business

The current business environment requires that all Information Technology (IT) professionals, not just managers, develop a strategic perspective toward their work. This chapter discusses the importance of that perspective for today’s business information technologist and proposes a framework for teaching strategic IT to non-managers.

scholarly journals КОНСОЛІДОВАНО-АНАЛІТИЧНА СИСТЕМА ОЦІНЮВАННЯ РОЗВИТКУ ПІДПРИЄМСТВ ЯК ОСНОВА УПРАВЛІНСЬКОЇ ЕФЕКТИВНОСТІ: ДОЦІЛЬНІСТЬ ЗАСТОСУВАННЯ ДИВЕРСИФІКАЦІЙНО-ІНТЕГРАЦІЙНОГО НАПРЯМУ

2020 ◽  
Vol 147 (3) ◽  
pp. 83-97
Author(s):  
Христина Ярославівна Залуцька
Keyword(s):  
Development Strategy ◽  
Process Optimization ◽  
Business Processes ◽  
Development Trend ◽  
Business Environment ◽  
Business Development ◽  
Evaluation Framework ◽  
Analytical Evaluation ◽  
Current Position ◽  
Modern Development

In the context of neo-technological reproduction, the diversification and integration development strategy will contribute to ensuring long-term effective business performance through extensive use of available business capacities necessary for creating products which foster transformational process cycling within their operating environment. The diversified integrative development is a unique development paradigm that triggers optimally rational use of the enterprise current position specifics, opportunities for diversification, identification of business units within business operational activity structure as well as offers benefits of its integration with attractive stakeholders. In turn, this translates into the need to build a certain consolidated framework for evaluating the above development trend which would enable to determine the feasibility, expediency, and the relevance of such development. This ideally should be grounded upon the promising business processes in the current and strategic periods and thus driving the priority of their efficiency evaluation alongside the opportunity for rationalization of the number and structure of particular business processes to ensure enterprise effective functioning in the neo-technological reproduction settings. The purpose of this article is to build a consolidated analytical framework to evaluate the diversified integrative business development as the core for its managerial efficiency. The research has been carried out by employing the methods of classification; analogy; abstraction; grouping; analysis; synthesis and morphological analysis. The developed consolidated analytical evaluation framework is based on the principles that enable to explore the relevance and the applicability of using the diversification and integration development strategy and to assess its implementation effectiveness. The findings provide rationale for selecting indicators to assess the relevance of implementing the diversification and integration development strategy by using a development trend criterion, since the evaluation results obtained for each unit will facilitate the possibility and specify the need for its application, subject to enterprise business environment specifics as well as its further development prospects. To attain better effectiveness in selecting a promising development trend, a corresponding evaluation framework has been suggested based on performance efficiency indicators, optimality, and the maximum possible effectiveness of the interaction between enterprise business processes, identified within its structural components which boosts these process optimization to ensure successful business development in conditions of rapidly changing environment. It is argued the proposed consolidated analytical evaluation framework will contribute to assessing the enterprise current position, its compliance with modern development trends and opportunities for increasing performance efficiency through rationalization of enterprise business structure (business process optimization), along with providing implications that help selecting an effective area for further successful strategic development.

Current Business Environment

2017 ◽  
pp. 13-66
Author(s):  
John E. Spillan ◽  
Domfeh Obed King
Keyword(s):  
Business Environment ◽  
Current Business

A Strategic Perspective on IT Outsourcing

2013 ◽  
Vol 4 (4) ◽  
pp. 22-34 ◽  
Author(s):  
Bhaskar Prasad ◽  
Rudy Martens
Keyword(s):  
Business Environment ◽  
It Outsourcing ◽  
Academic Literature ◽  
Strategic Perspective ◽  
Current Business

In the current business environment IT outsourcing has gained prominence. Many firms in Europe outsource their IT requirements to Asia. This study analyzes the factors which favor this trend in which clients are based in Europe and vendors are based in Asia. From a strategic perspective, this study identifies the characteristics that IT activities must possess for them to be outsourced from Europe to Asia. In addition to contributing to academic literature this study will put forward the implications for organization adopting IT outsourcing.

Improving Business Processes by Visual Workflow Platform

2011 ◽  
Vol 204-210 ◽  
pp. 1051-1056
Author(s):  
Lang Cai Cao ◽  
Jian Luo
Keyword(s):  
Business Process ◽  
Business Processes ◽  
Business Environment ◽  
Work Efficiency ◽  
Process Data ◽  
Business Units ◽  
High Level ◽  
Share Information ◽  
Track Status ◽  
Current Business

With ever-changing and fast-changing in current business environment, traditional business process is more and more incapable to meet the demand to share information, visualize both high-level and detailed process data, track status and expedite business processes. To address these challenges, the visual workflow platform is introduced. As proven by an industrial case, the workflow platform can greatly help business units to improve work efficiency.

scholarly journals Company business process optimization as an imperative of its economic security

2021 ◽  
pp. 145-153
Author(s):  
I. Zelisko ◽  
O. Sosnovska ◽  
L. Oliinyk ◽  
V. Stefkivskyy ◽  
I. Manaienko
Keyword(s):  
Process Optimization ◽  
Business Process ◽  
Business Processes ◽  
Business Environment ◽  
Economic Security ◽  
Insurance Companies ◽  
Methodical Approach ◽  
Business Process Optimization ◽  
Games Theory

Purpose. To work out an algorithm of an entrepreneur business process optimization in order to systemize and ensure the quality of implementation of key business processes of an insurer as the condition of increasing his/her level of economic security in a turbulent business environment. Methodology. In the study there were used general scientific and specific methods of cognition, in particular: logical colligation, analysis, dialectic synthesis and grouping, induction and deduction, process approach, factor analysis, graphical visualization, economic-mathematical modelling. Findings. The necessity of business process optimization for an insurer was established as a strategically important subject of market relationship development. A logical-structural scheme of interconnection of the main business processes of an insurer is formed; the processes are gradually implemented by stages of insurance services progress, risks underwriting, reinsurance, effecting of an insurance agreement, forming and placing insurance funds and settlement of losses. The main structural elements of the insurers business process optimization were systemized. The methodical approach to the insurers business processes reengineering was proposed on the basis of the games theory just to form a new model of business processes and to increase its optimization process effectiveness. Originality. An algorithm of the insurers business process optimization was worked out, which includes the process of their planning, diagnostics, implementation of changes and monitoring just to increase the quality of key business process realization as the condition for ensuring economically safe functioning of the business entity. Practical value. The practical value is in the possibility to use them in insurance companies activities, which will ensure their sustainable functioning and development in the strategic perspective.

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