Friday, July 14, 2023


It is important to understand that business development is multifaceted and takes high-quality effort to enable organizations to thrive.

Organizations today need to be fast and flexible, have less boundaries but develop better abilities for dots connections to spur innovation. The tough work for an organization today is to identify and close business capability gaps, build organizational competency, manage its portfolio of relevant cross-border strategic synergies. 

It is imperative to reach the business vision and achieve strategic business goals seamlessly. Asset management coupled with business initiative management provides rigor to hedge against misallocating resources to ensure the asset base is grown soundly and efficiently.

Important business processes reviewed regularly, refined regularly and are transparent across the business should help bring into alignment most of the key parts of the business: Strong business processes have a better chance to deliver a better result. Business processes need to be treated as business assets. If you are not measuring the performance of these assets and senior management does not have a long-term strategy to leverage these assets, governance becomes significantly more challenging. Information based analytics enable businesses to keep improving business asset effectiveness.

The true power of predictive analytics comes when you integrate the insights into your business processes (applying the model in real-time to predict the likelihood a specific person will take a specific action). Business processes must integrate with and support the final outcome to produce a product or service and generate revenue.

All businesses have certain capabilities, take a holistic view and make an objective assessment of the business capability portfolio as organizational assets: Business processes underpin organizational capabilities. Business capabilities are often the collective capabilities of its people. Enterprise capabilities are typically expressed in generally high-level terms and require a combination of people, processes, and technology to achieve. It’s important to build differentiated business capabilities and achieve high-performance business results.

Many components of business capabilities are common and reusable across the enterprise. Those organizations that have better integration maturity outperform their competitors and tend to be more responsive to increasing pace of changes and develop a cohesive set of business capabilities. Those organizational capabilities with gaps are evaluated objectively, producing a list of remediation work that needs completing to improve business capability and capacity.

Organizations should be able to put some measurable value on the information and knowledge assets because it is "vital" to the business: Information technology is the most valuable asset besides human Asset in modern businesses which need to be assessed both qualitatively and quantitatively. The Knowledge Management mechanism needs to be well embedded into critical key business processes to shape a culture of learning. There is no hard asset that you can buy today that will guarantee the success of your organization. Data, information, knowledge, and wisdom are the different stages of the information life cycle that organizations need to manage more effectively and improve their business capability maturity.

The idea of applying the asset management principles to arrange your own corporate information strategy is worth deploring. Without an effective information or knowledge management approach, those personally-owned assets will go when the person goes and will be lost forever. When speaking of knowledge, the firm does not always own the asset. Therefore, the deployment has to consider agency and interdependency of ownership. Part of taking knowledge seriously as a corporate asset involves assigning responsibility for knowledge within the organization, both maintaining and improving knowledge flow and usage, recycling.

Every organization is different, every initiative is also unique, there is no one size fitting all formulas or practices to develop a high performance organization and build invaluable business asset and differentiated competency. It is important to understand that business development is multifaceted and takes high-quality effort to enable organizations to thrive.


Post a Comment