Business management should articulate the reason for developing a solid business case, starting an initiative; identifying comprehensive capability, achieving its targeted performance and realizing the clarified business vision smoothly.
The business management needs to contemplate: Which benefits will be achieved through addressing the key business drivers? What is a better and more accurate understanding of the overall situation and hence better defining the problems? Can these business benefits be measured and quantified, etc. And how should you go about solving them and in what sequence. Strong universal business cases enable organizations to gain competitive advantages and generate options for providing future business competencies.
Initiating alternative solutions: Forward-looking companies are pursuing better ways to do things, figuring out alternative solutions to either existing or emerging problems. It should encourage doing better pre-work, not necessarily putting everything in the case development, but worth further consideration of different scenarios of problem-solving. There are always cause-effects of problem-solving. A correlation between two variables does not necessarily imply that one causes the other. To deepen understanding of causes and causations requires critical thinking, including people who always have something worth saying; leverage advanced analysis to do logical reasoning and deepen understanding.
It's worthwhile considering why things are the way they are for, in doing so, you are challenging automatic assumptions that something needs fixing. Thinking creatively about a problem requires being close to the problem, needs both cross-domain knowledge and breakdown of the silo mentality, and leverage different thought processes to define problems systematically. Understanding context and intangible variables, designing solution models, analyzing cost and benefit, accordingly.
Blending people's problem-solving abilities to produce the desired outcome is a worthwhile thing to do: While the individual contributions provide the 'building block' of business solutions, it is the collective consensus on what to do with them that is integral, scalable to get a really great impact. In a team setting, be willing to listen to different perspectives, and encourage collective wisdom. Creativity is only achieved through the diversity of thoughts, and provokes breakthrough thinking to arrive at creative outcomes that would be otherwise very unlikely.
Blending people’s abilities to come up with better solutions is not only a synchronizing of their individual inputs to make something that no one individual would achieve, but also refreshing knowledge, recapturing collective insight to orchestrating a holistic management of many great ideas and alternative solutions. To use the diversity of ideas as a rich source of connectivity and relationship, to harness all the spontaneity of interaction the group is capable of generating value added outcomes.
It must deal with cost/revenue/regulatory risk in producing reliable outcomes: Rapid business change implies both opportunities for growth and unprecedented risks. Organizations that are able to flex the risk-reward balance predominantly through being risk-aware effectively can implement business strategy and build the competitive advantage. Because they are better placed to walk away from high-risk situations or possibly mitigate risk to lower cost, improve business effectiveness and efficiency.
Risk intelligent organizations are able to understand the correlation of revenue, cost, regulatory risk, and handle different business cases smoothly. Strategically, enable risk enabled decision-making; financially, reduce cost of risk & compliance, improve bottom-line value to stakeholders; operationally, increase operational efficiency, program visibility, decrease turn-around-time; regulatorily, reduce audit failures, implement predictive compliance-the ability for early diagnosis of non-compliance, etc. So organizations can enhance quality, reliability and reputation.
For strategic business initiatives, a vision provides the guiding light and direction, it’s also important to clarify strategic goals. For tactical initiatives, structural methods, optimized processes and best practices enforce business agility. There needs to be a robust and flexible process to follow, the good ideas get discussed, funded and move forward. Business management should articulate the reason for developing a solid business case, starting an initiative; identifying comprehensive capability, achieving its targeted performance and realizing the clarified business vision smoothly.
Initiating alternative solutions: Forward-looking companies are pursuing better ways to do things, figuring out alternative solutions to either existing or emerging problems. It should encourage doing better pre-work, not necessarily putting everything in the case development, but worth further consideration of different scenarios of problem-solving. There are always cause-effects of problem-solving. A correlation between two variables does not necessarily imply that one causes the other. To deepen understanding of causes and causations requires critical thinking, including people who always have something worth saying; leverage advanced analysis to do logical reasoning and deepen understanding.
It's worthwhile considering why things are the way they are for, in doing so, you are challenging automatic assumptions that something needs fixing. Thinking creatively about a problem requires being close to the problem, needs both cross-domain knowledge and breakdown of the silo mentality, and leverage different thought processes to define problems systematically. Understanding context and intangible variables, designing solution models, analyzing cost and benefit, accordingly.
Blending people's problem-solving abilities to produce the desired outcome is a worthwhile thing to do: While the individual contributions provide the 'building block' of business solutions, it is the collective consensus on what to do with them that is integral, scalable to get a really great impact. In a team setting, be willing to listen to different perspectives, and encourage collective wisdom. Creativity is only achieved through the diversity of thoughts, and provokes breakthrough thinking to arrive at creative outcomes that would be otherwise very unlikely.
Blending people’s abilities to come up with better solutions is not only a synchronizing of their individual inputs to make something that no one individual would achieve, but also refreshing knowledge, recapturing collective insight to orchestrating a holistic management of many great ideas and alternative solutions. To use the diversity of ideas as a rich source of connectivity and relationship, to harness all the spontaneity of interaction the group is capable of generating value added outcomes.
Risk intelligent organizations are able to understand the correlation of revenue, cost, regulatory risk, and handle different business cases smoothly. Strategically, enable risk enabled decision-making; financially, reduce cost of risk & compliance, improve bottom-line value to stakeholders; operationally, increase operational efficiency, program visibility, decrease turn-around-time; regulatorily, reduce audit failures, implement predictive compliance-the ability for early diagnosis of non-compliance, etc. So organizations can enhance quality, reliability and reputation.
For strategic business initiatives, a vision provides the guiding light and direction, it’s also important to clarify strategic goals. For tactical initiatives, structural methods, optimized processes and best practices enforce business agility. There needs to be a robust and flexible process to follow, the good ideas get discussed, funded and move forward. Business management should articulate the reason for developing a solid business case, starting an initiative; identifying comprehensive capability, achieving its targeted performance and realizing the clarified business vision smoothly.
0 comments:
Post a Comment