In comparing alternatives, a pros and cons comparison is often used to determine which alternative is more favorable. This exercise is straightforward and quick to do. For businesses that want to do a more objective assessment, they build a model to assign scores to the different factors. Through the process,… [More]
Businesses exist to serve the customers. This principle forms a key driving force for strategy development. When a business obsesses over customers, it has a laser focus on doing what is best for customers. This laser focus facilitates prioritization of product development, investments, and operational decisions. There are 3 key… [More]
The pandemic has sped up digital transformation in diverse industries. Transformation initiatives are major undertakings that have widespread implications throughout the business. It is more than selecting a technology to automate processes and tasks. Therefore, it is crucial to have the right people on the transformation team. Here are several… [More]
To capture directions on completing a job, a checklist is often used to list all the activities involved. This checklist provides a reference for team members to avoid missing tasks. Interestingly, the timing for creating a checklist usually comes about when a job gets complex. Many people might be involved…. [More]
The strategic roadmap for a business evolves to align with customer needs and technology advancement. There are many variables to consider. It is a complex, yet manageable process to sieve through options. A central idea to incorporate in the strategy development process is to evaluate and prioritize what you… [More]
Cost of service provisioning impacts the bottom-line. The types of service a business offers as a revenue stream or as customer support bear a cost that needs to be monitored closely. Without a sound understanding of the costs associated with these services, it is difficult for the business to assess… [More]
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