But as indicated there is a need for a revised version of the growth model presented by Galliers & Sutherland (1991). This is because Nolan in his model did not prove enough reality, or described in depth the stages through which organizations go through when utilizing IT which is contrary to the revised model because Galliers and Sutherland (1991) explained in detailed the stages of organizational growth in IT and highlighted some implications involved in each stage and how it can be implemented in an economy cycle as presented
INFLUENCE OF BUSINESS PLAN PREPARATION TO THETHE COMPEPITIVE ADVANTAGE OF THE ENTERPRISE PhD Aleksandra Stoilkovska, Full Professor PhD Natasha Ristovska, Assistant Professor Enterprice management in modern conditions of work includes preparation and creation of a business plan, as an important document upon which the monitoring and the needs for changeable operation of the existing business or starting a new business is based. The preparation of the business plan as well as its development and improvement is a strategy which the entrepreneur has to implement and realize, despite all the obstacles and deficiencies that may be encountered during operation. Quality developed business plan represents advantage in decision making related to taking
Each stage creates unique challenges for the organization and requires diverse strategies to continue operating at a profitable level. The startup stage, which includes seed and development, is the very beginning of the business life cycle. The brilliant idea for the business venture is merely a thought and requires further research and testing to find out how sustainable it will be. This
Inability to manage the issues has made many businesses not to go beyond first or second generation. A study by EY (2014:2) participating 2,400 world largest family businesses from the top global markets from Europe, Asia, Middle East and Americas emphasised that, “Family businesses and their leaders are the ultimate entrepreneurs. They must continually innovate to grow and pass on a thriving business from one generation to the next.” This observation emphasises the importance of family-businesses continued scrutiny in order to have a strong generational succession not deterred by external forces or pressure as could be the case of students (Zellweger et al., 2012). From EY study, 87% of family businesses had clearly identified successors, indicating a clear path to their future. To such businesses, succession preparation must be based on three factors, namely in terms of long term process, define who has responsibility for succession and finally empower the next generational for leadership (EY,
Because the organizations need to consider various factors while implementing digital transformation. The entire business model is reshaping in order to include the digital technologies in the traditional business. Thus the business need to manage all the factors that affect the implementation of digital technology. In this thesis we are identifying the major domains while transforming the business with digital technologies. The businesses deal with some issues while implementing the digital technologies.
International Expansion: Davis Case Study The natural course of life for business is to grow. A company wants to grow to increase profits, to increase customer base, to increase its value, to innovate, to enter new markets, to build new product base, etc. The key is to develop, plan and execute a strong growth strategy. The strategy should outline what business or market to expand to, when to expand and how to expand. There are two ways in which a company can expand: Organically and inorganically (Growing a company by international acquisition, 2008).
c) Team work in both technological and business experts The idea of a technological innovation should be based or linked with the potential market and the technology team seam should closely interact with the rest of the divisions of the enterprise leading to a successful logical conclusion in terms of processes to be developed as per the set objectives set at the beginning. This strategy is best reflected in the form of a ‘Business Plan” of an enterprise which needs to be prepared and approved before starting the new business. The Business Plan : The business plan is a strategy summery of a new venture. Its purposes are 1. To ensure, by clear focus in strategy, that important points necessary to the success of any business venture have been considered and;
For example, in the early stage of organizational development the goal is survival, the structure is centralized, the owner makes most decisions and even solves operating day to day problems. Later on, in the middle stage of organizational development the goal is stability, operating decisions are decentralized, and the owner makes decisions involving coordination between departments occasionally spending some time in strategic decisions. Finally, in the late stage the goal is to preserve market share and organizational efficiency, most activities are decentralized, and the owner spends more time making strategic decisions (Gersick et al., 1997; Headd & Kirchhoff, 2009; Ward, 1987,
This assignment helped me to understand how businesses is grown by giving specific direction and strategies to it as well as what is required of a business CEO and what difficulties he face in such a huge company. The learning process have been really enriching and opened a whole new dimension to which the understanding of a business strategy and model, providing a structured approach and analysis of the business, the interconnecting relationships of enhancing and delivering value from the business to the consumers, the ideas and ways in which a business can survive and sustain in the competitive and ever-changing environment. This will also mean that the knowledge and skills that are acquired with this learning process can be used to contribute to the society, benefitting the community and businesses, consumer’s altogether. It is also highly recommended to anyone who seeks success in business and