Well-run organizations don’t fly by the seat of their pants; they’re constantly working on business forecasting and business planning. Every decision and every process is based on data obtained from business forecasting, business intelligence tools, market research and scenario planning….
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Today’s hyper-competitive world can be a tough place for many businesses. Large companies are always looking to produce better products while reducing costs, customers’ needs evolve and the world economy fluctuates at large. In a sentence, your business will face…
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You’ve likely heard that nearly half of all new businesses fail. According to the Small Business Association (SBA), 50 percent of businesses fail during the first five years. Over a 10-year span, the percentage increases to 66. But what can…
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Planning for a software development project is essentially choosing one path forward to complete tasks and achieve your goals. But things don’t always work out as planned, and issues such as technical debt can affect your initial project plan. Sometimes…
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When you’re creating a company or working on a business plan, the first thing you should do is create a mission statement. Your mission statement is the base for your company values, vision statement, slogan, value proposition and everything else….
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Total Quality Management (TQM) works to maintain success by doing what is necessary to improve customer satisfaction. Of course, that satisfaction is seeded in employees and business processes—long before any product or service reaches its customer. How does a business…
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A stakeholder is anyone who has an interest in a project, business or organization. More importantly, stakeholder management is critical for the success of any project or organization because it can influence everything and everyone, including senior management, project leaders,…
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Much as a librarian is responsible for organizing a large collection of books, organizations must have a set protocol for managing their business data. Not being able to find or protect data makes for a dangerous precedent. That’s why data…
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If you’re a manufacturer, you need to know about supplier relationship management (SRM). Your business depends on getting products to a target audience. That can’t happen without a steady stream of raw materials and other necessary supplies. That’s why managing…
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Your business operations are only as good as your ability to monitor and control them. For example, manufacturing teams would be lost without a controlling process that lets them measure and improve on their management function. The process of controlling…
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Work in the dark and eventually you’re going to hit a wall. While the myth of the entrepreneur who comes up with a million-dollar idea, sits back and watches the money roll in might be persuasive, it’s fiction. Businesses need…
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Getting the right amount of small business funding that you need is no small task. It is stressful to need money in order to launch your business, and at times it can seem impossible to get. Luckily in today’s marketplace,…
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Business ethics might sound like an oxymoron, but it should be a cornerstone of every industry. Jennifer Bridges, PMP, explains what it is and why it matters to managers, their projects and the organizations they serve. Here’s a screenshot of…
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