Level 1: Strategy Formulation
A business strategy creates a vision and direction for your whole business, and the most important reason is that your business must have a strategy to survive in uncertain times and when faced with market challenges.
So, a business needs a strategy because it creates a vision and direction for the whole organisation. They can also create a competitive advantage and ultimately understand where the business is going in the future.
Unless a Business gets into the action of transforming its ideas into a reality, then the only thing they have is a need, desire, aspiration or concept.
Level 2: Business Models & Ops Models
b) Processes: Increased process integration across divisional units and functional areas reducing duplication of effort. Through standardization, organizational learning can be leveraged across the organization. Systems and data become transparent and more useful, and employees can better link their pieces to the rest of the puzzle.
BPO Models, BPM Tools, Business Process Architecture, Process Design, Capability Model.
d) Technology: Development of integration layers to enable services to be delivered across multiple channels (and their associated touch points) to avoid creating information siloes.
Investment in technologies that allow data to be interrogated so that analytics will provide actionable insight.
Technology Architecture, IT Operating Models, Digitalization.
f) Metrics: The ability to turn raw company data into actionable intelligence is at the core of today’s successful businesses.
Data is increasingly important to everyone’s job role. Its value is in helping people do their jobs better, improve efficiencies and customer service, counter competitors and increase profit margins.