You’ve thought of your business idea, but have you spoken to potential customers yet? You need to understand what people want, and what competitors are already offering, before you can move towards business success. Thorough market research is crucial, and the more research you do, the easier it will be in the future to make …
Please click to download for free the slides presented at the event Developing a winning business plan. Questions and comments are welcomed on this platform.
In every company there are different employees with different designations and different responsibilities. And in some industries, whenever a company starts a new project, the responsibilities of employees change. To perform these responsibilities the employees may already have the required skills or they may not have these skills. That is why whenever a new project …
1. Thinking about it, not visualising it. Your vision for your business needs to be as clear as if you were watching a movie – what can you see, what can you hear, how does it make you feel, who else is in the picture. You get the drift. The clearer your vision, the more …
Study the trends. IBM foresaw that market demand was moving toward technology based services and its industry needed new innovations and sustainability. They diversified into services to remain competitive. In business, it’s vital that you monitor the pulse of your industry, understanding what’s valuable to the majority of your clients, and paying attention to the …
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1.0 Analyzing and Interpreting Information Analyzing quantitative and qualitative data is often the topic of advanced research and evaluation methods courses. However, there are certain basics which can help to make sense of reams of data. 1.1 Always start with your research goals When analyzing data (whether from questionnaires, interviews, focus groups, or whatever), always …
Transforming information to knowledge for business decisions Read More »
As the Part 2 of this series examines the role of information in decision-making, THE MANAGER AS A DECISION MAKER Part 3 goes further to analyse the nature of managerial decision-making by first differentiating between programmed and non-programmed decisions, and explains why non-programmed decision-making is a complex, uncertain process.
THE MANAGER AS A DECISION MAKER Part 2 is a continuation of the series that discuss how people make decisions and how organisational factors can affect the quality of the decisions they make and ultimately determine organisational performance.
THE MANAGER AS A DECISION MAKER Part 1 introduces you to the manager’s challenge in relation to effective decision making and how the quality of the decisions ultimately determine organisational performance.