Directions
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Directions

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In a business, when appropriate events and conditions trigger action, customer requirements and consumable resources, such as raw materials and information, are transformed into goods and services to deliver the desired business performance. This transformation is done via cross-functional business processes that are guided by corporate strategy, policies and procedures, and enabled by people, facilities, equipment, systems and other assets. Therefore, business performance is directly attributable to process performance and a business is simply the collection of all of its cross-functional processes supported by all other assets. In the Business Direction Definition phase, the relationship between processes, technology directions and business strategy is determined. Processes which are likely candidates for renewal are identified and prioritized by mean of a disciplined approach:

  • Develop understanding of business context
  • Identify critical business processes
  • Match processes to CSFs & priorities
  • Formulate organization strategy
  • Assess human capabilities

Our expert sources said that, once you've decided to change your approach, you should ask yourself the following questions to formulate a solid plan:

  • What are the underlying reasons your business is experiencing slow or weak business growth?
  • Is your belief in a new direction supported by facts and data?
  • Do you have the skills to run your business in this new direction?
  • Is the market you want to enter growing, declining or stable?
  • Who are your key competitors, and to what extent are they driving the category trends?
  • What are the top needs and wants of your new core customers?
  • Are you able to listen and react to the market and own your customers' journey? If not, what are the barriers?
  • Does your business strategy take into account short- and long-term shifts in the market, including trends, new entries and partnerships that will make the customer experience more satisfying?
  • Can you make this change with your current resources?
  • Big changes take time, and you're not necessarily going to be able to quit your old business model cold turkey. You'll likely have to make a gradual transition and continue doing some of your original work to keep money coming in while you revamp. However, you should make sure the appropriate attention is given to your new projects, ideally through the use of a dedicated group of employees.

 

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