Tag: Operations

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10 Global Industries That Need Business Process Management the Most

To become and remain successful and rise above the competition, businesses must continuously improve and monitor their processes. Failure to do so may result in big financial losses, lower investment capital, reduced motivation in employees, and fewer satisfied customers.  This is why more and more companies worldwide are adopting business process management (BPM) applications in different flavors. BPM tools are designed to manage workflows in a consistent, repetitive model, providing an instrument for collaboration among all team members. According to the report led by Market Research Future, the BPM market is expected to grow to approximately USD $28.3 billion by… Continue Reading
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Critical Thinking Strategies for Business Leaders

Critical thinking is a powerful skill that's applicable in both daily life and running a business. However, managers and executives are in charge of large budgets and diverse teams. Irresponsible business decisions and ignoring risk management can harm a group of people and their families, in addition to other areas of business (partners and vendors). What Is Critical Thinking? Thinking critically defines the process of analyzing problems from scratch, relying on a combination of your background, the context of your organization, the distribution of your team, available resources, the global market, and any data you can tap into to reach… Continue Reading
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The 38 Biggest Business Challenges Growing Companies Face

Growing a business is complicated. According to SBE Council, 89% of all businesses employ fewer than 20 employees. And scaling a company further is contingent on solving a number of business challenges -- most of those being common across all organizations out there. Businesses in their first year or two, under 10 to 20 employees, and making less than $500,000 in revenue are still validating their business model. Once a certain sense of stability is met, several repetitive challenges keep haunting organizations, over and over again. [optin-monster-shortcode id="bvo0dmszdzz4j6ua2ljr"] This is why I've compiled this comprehensive list of the most impactful… Continue Reading