Business

Definition

Business exists to create value and value is defined only by real Customers.

The New Business Environment

1. Globalisation - markets.
   
   
2. Globalisation - competition.
   
   
3. Globalisation - employees/jobs.
   
   
4. Retreating to core businesses.
   
   
5. Outsourcing.
   
   
6. Business needs to be faster on its feet.
   
   
7. With Personal Computers on most desks, the business community has become IT-literate.
   
   
8. Information explosion (capturing it, knowing it is there, desire for it, accessing it).
   
   
9. Thus, they have become more demanding.
   
   
10. Continual and rapid change in business context:
    • Marketplace:

      - Our role

      - Our strategic direction

      - Vulnerability to competition

      - Technological environment

    • Products
      
      
    • Technology
      
      
    • Downsizing
      
      
    • Business Process Management
11. React to change faster and more timely:
    • Increasing difficult
      
      
    • Expensive in time
      
      
    • Expensive in cost
12. Ability to deliver new products and services as well as product enhancements quickly and cost-effectively (shorter product life cycles).
    
    
13. Need to acquire and retain high quality people.
    
    
14. Shift from resource-based products to knowledge-based products.
    
    
15. Increasing returns.
    
    
16. Instability.
    
    
17. Inability to determine cause and effect.
    
    
18. Uncertainties are increasing.
    
    
19. The nature of industry is shifting.
    
    
20. Staff are expected to be more flexible in the way they approach problems.

Also See

Business Silver Bullets

Enterprise Strategy