Tag: Process

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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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Why Your Business Needed A Business Process Management (BPM) Software Yesterday

If your company hasn’t grown to a fully-fledged corporation yet, you’re probably terrified (if not disgusted) from all the enterprise lingo - workflows, procedures, contingency plans, risk management (to name a few). But scaling an organization is impossible without the implementation of business process management (BPM) practices in-house.  NASA tanked $327.6M through its Mars Climate Orbiter mission crashing the satellite in 1999 due to a software localization error. Some international horror stories such as Chernobyl could have been prevented with the right contingency plans in place. Let alone the COVID-19 spread we’re all victims of nowadays.  Case in point, business… Continue Reading
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The Lifecycle Of An Entrepreneur

The most genuine disappointment from entrepreneurship I’ve seen myself were former full-time employees who used to work in large corporations. Transitioning from corporate roles to entrepreneurship often leads to unmet expectations and disappointment. In large corporations, roles are defined, resources abundant, and predictability high. Employees focus on specific functions without worrying about the bigger picture or the bottom line. The responsibility can overwhelm those used to shared accountability in corporate settings. The skill set for entrepreneurship differs from specialized corporate roles. Sales, networking, and general management are often new challenges for former corporate employees. The shift from a structured, resource-rich… Continue Reading
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Mastering the B2B Sales Process: How to Effectively Reach Decision Makers

Budget and timing are the two major reasons why businesses and salespersons lose B2B deals. This is according to a report from Chorus. This gives emphasis to the fact that the B2B sales process is a long one and it needs strategic approaches not only in budget and timing but also in other key aspects. To be successful in B2B sales means to have a deeper appreciation of B2B processes and sales stages, determining and reaching the decision-makers, and knowing how to go through the sales process efficiently. Understanding the B2B Process The B2B process takes longer than B2C since:… 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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7 Reasons Why It is Difficult to Manage New Projects (Or Inherit an Old One)

What makes projects so difficult to manage? As a project manager, you need to assess the culture, your role, your team, how problems escalate, what your responsibilities are and how to tackle edge cases (delays, problematic team members, running out of budget, handling scope creep, disagreeing with a client, etc.) And within the right environment, everyone follows the company mission statement and the core principles of the organization. This will turn your decision-making process into a quantifiable, well-oiled machine, which should facilitate the team and get the work done. Project management is, in theory, the activity of ensuring a project’s… Continue Reading