EGovernment is one more of the recent years “buzzwords”. It is usually either paired with the word “services” at the end or other words like eGovernance and Digital Government. Like every other (relatively) new and cool “buzzword” they are used widely by a broad spectrum of individuals who represent mostly two different backgrounds. Information technology and politics. The first because it is a technological issue, the later because they have come to realize, even though a little late, that they represent an excellent vehicle for them to provide a better experience to anyone who interacts with the Government. But, what do these terms mean?… Read the rest
Modern Management Concepts
Business Analytics – Meaning, Use and Scope
Business Analytics deals with the methodologies employed by organizations to enhance their business by making optimized decisions with the use of statistical techniques that might involve data collection and analysis. Business analytics might require many complex techniques that need advanced statistics.
Applying Business Analytics, it may be possible to find how a territory or a region reacts to certain product variations or added features. This information can be very useful in devising new product line with features that are likely to maximize sales in a particular region for a set of target audiences. A proper analysis of data might also tell about things like recurring customer support issues and thereby proactive steps can be taken before it grows out of proportion.… Read the rest
Blue Ocean Strategy: Discovering the Untapped Market
Blue ocean strategy makes companies to come out of ocean of bloody competition by creating market space which is uncontested and that makes the completion irrelevant. Since, dividing up existing demand and benchmarking the competitors, Blue Ocean strategy is regarding grow demand and break away from the competition. The business universe can be thought as a composition of two kinds of oceans the first is the red ocean and second one is the blue ocean. Red ocean includes all the industries which exist today and it is about the known market space. But on the other side Blue Ocean can be considered as industries which are not in existing today and it is called unknown market space.… Read the rest
What is Business Process Management?
Business Process Management (BPM) helps an organization in adapting to changing conditions in the market place so as to remain competitive. A well designed BPM system can help an enterprise run efficiently and effectively, move according to the company’s regulations, and spot inefficiencies in the business activities and bottlenecks to the smooth flow of work. Business Process Management systems help in recognizing certain situations that may pose trouble in the future. They enhance the overall quality and quantity of the various services and products being provided by the organization.
Business Process Management can be extremely useful to employees and top managers of an enterprise.… Read the rest
Differences Between Social Entrepreneurship and Business Entrepreneurship
Before understanding the term social entrepreneurship, we need to firstly understand what traditional business entrepreneur itself is. An entrepreneur is an individual who owns a firm, business, or venture, and is responsible for its development. In order to do so, he or she will manage the resources he had. The aim of a traditional business entrepreneur or commercial entrepreneur is to generate profits from the risks and opportunities he or she is willing to take. A business enterprise therefore would be an entity that is owned by the business entrepreneur to achieve business goals that have been set by the entrepreneur.… Read the rest
Disruptive Technologies and Sustainable Technologies
Overview of Disruptive Technologies
Disruptive technology was first introduced by Clayton Christensen in his article “Disruptive Technologies: Catching the Wave” (1995) which was co-wrote with Joseph Bower. In view of business and technology fields, disruptive technology is a technology initially in a form of simple application, then improves and dominates dramatically in the markets, where the markets do not expect. Disruptive technology typically improves in a way that by being lower priced and designed for various disciplines of consumers. Instead of allowing consumers with lots of money or lots of skills to use it, disruptive technology is designed in which allow “whole new population of consumers” to use it, access its services.… Read the rest