Through our lives both professionally and personal we constantly run into little hiccups that we did not see coming. Maybe you put off paying those toll tickets and years later, you get a letter in the mail for over a thousand dollars! Yikes! Alternatively, lets take a look at the IBM Mega Disaster when in 2007 they estimated they could come up with an application for Queensland’s health department to be complete by 2008 for 6 million dollars. But due to unforeseen problems the project ended up taking several years and costing 1.2 billion dollars. An enormous strike to the Queensland. This headache could have all been avoided had Queensland asked themselves What is risk management? before jumping into such a large project hole with IBM.
Strategic management and Innovation
As time goes by and technological capabilities increase, the way we work and exchange information change. In the past to get information for one place to another, many more steps were needed to even begin. All documents and reports needed to be tediously created by hand, delivered by hand, discussed face to face, and presented in front of a physical crowd. Each time managers sent employees out to work in other states or even countries a certain amount of uncertainty was involved because at times the manager wasn’t even sure what to expect, much less the team member. It’s not easy to manage virtual teams, you know?
Data is passing us all the time in our personal lives, and in our day-to-day at work. Even as you are reading this, there is data being created, it’s everywhere. In the past there was no reasonable way to collect this data which caused, and in some cases, still causes many companies to react to situations created by ill-controlled big data, rather than using data analysis to foresee and prevent situations.
We can say that there are two war cries when the argument is about the necessity of meetings. On one hand, the argument is: Meetings are venomous. On the other hand, the rebuttal is: The venom is the lack of focus of who conducts the meeting. Not to mention, of course, those who silently conform that: Meetings are a necessary evil. No matter what side you pick, one thing is for sure… Effective Meetings are hard to come by.
We all want to save money, who doesn’t? It makes us feel so good on the inside. However, sometimes the best way to save money isn’t to cut costs, but rather, how your costs are managed. There are so many books and posts written about how to not lose money – like this one from Inc. However, no one really talks of the future of cost management and new forms of it.
Everyone is always looking for a way to achieve higher levels of productivity whether it be to stay competitive or to reduce stress in their day to day life. Now, we’ve heard it all before, reduce time talking on the phone, get off social media, put your work shoes on, etc. There are so many methodologies, techniques and theories, but sometimes we need a little bit more! What we need are results, we need, productivity applications, but not just any applications. We need the best productivity apps. With all the apps floating around it seems there is an application for everything.
In today’s world all companies are looking to save money and increase productivity even if by the smallest of margins, even if it means spending millions of dollars to shave of 0.1 of a penny off of production costs. Staying competitive is essential in the ever-growing international market. Leaders in these markets are on an ongoing quest to find new ways to stay ahead of the rest, sometimes even getting quite creative, from employee incentives to classes to help employees concentrate. But how about taking a look at the infrastructure of the company and really getting into how projects big and small are delegated in the company? We help you to find the best project manager.
- Understand the formula for generating value for your business. Every company has a process of lead generation, made to promote interest in its products or services, to sell, retain and increase revenue with existing customers. Invest your time to better understand this model. It will become easier to deliver value, which is the only reason you are employed.
To earn money, you must spend it. That’s a business fact. Whether it’s product cost, employee salaries, property costs, marketing, or equipment, you will always have some overhead involved in starting and maintaining your business. This reality is scariest for new businesses trying to break even, or old ones in an economic downturn. So how can these businesses employ cost control measures to keep overhead down and boost profits in the meantime? What methods can they use?