The BSAIC Group

Steps to Success

noreply@blogger.com (TheBSAICGroup) — Thu, 13 Oct 2011 07:01:00 +0000

The following was a great blog article I read on HBR, which provides good insight on approaches used by successful people.

1. Get specific. When you set yourself a goal, try to be as specific as possible. "Lose 5 pounds" is a better goal than "lose some weight," because it gives you a clear idea of what success looks like. Knowing exactly what you want to achieve keeps you motivated until you get there. Also, think about the specific actions that need to be taken to reach your goal. Just promising you'll "eat less" or "sleep more" is too vague — be clear and precise. "I'll be in bed by 10pm on weeknights" leaves no room for doubt about what you need to do, and whether or not you've actually done it.

2. Seize the moment to act on your goals. Given how busy most of us are, and how many goals we are juggling at once, it's not surprising that we routinely miss opportunities to act on a goal because we simply fail to notice them. Did you really have no time to work out today? No chance at any point to return that phone call? Achieving your goal means grabbing hold of these opportunities before they slip through your fingers.

To seize the moment, decide when and where you will take each action you want to take, in advance. Again, be as specific as possible (e.g., "If it's Monday, Wednesday, or Friday, I'll work out for 30 minutes before work.") Studies show that this kind of planning will help your brain to detect and seize the opportunity when it arises, increasing your chances of success by roughly 300%.

3. Know exactly how far you have left to go. Achieving any goal also requires honest and regular monitoring of your progress — if not by others, then by you yourself. If you don't know how well you are doing, you can't adjust your behavior or your strategies accordingly. Check your progress frequently — weekly, or even daily, depending on the goal.

4. Be a realistic optimist. When you are setting a goal, by all means engage in lots of positive thinking about how likely you are to achieve it. Believing in your ability to succeed is enormously helpful for creating and sustaining your motivation. But whatever you do, don't underestimate how difficult it will be to reach your goal. Most goals worth achieving require time, planning, effort, and persistence. Studies show that thinking things will come to you easily and effortlessly leaves you ill-prepared for the journey ahead, and significantly increases the odds of failure.

5. Focus on getting better, rather than being good. Believing you have the ability to reach your goals is important, but so is believing you can get the ability. Many of us believe that our intelligence, our personality, and our physical aptitudes are fixed — that no matter what we do, we won't improve. As a result, we focus on goals that are all about proving ourselves, rather than developing and acquiring new skills.

Fortunately, decades of research suggest that the belief in fixed ability is completely wrong — abilities of all kinds are profoundly malleable. Embracing the fact that you can change will allow you to make better choices, and reach your fullest potential. People whose goals are about getting better, rather than being good, take difficulty in stride, and appreciate the journey as much as the destination.

6. Have grit. Grit is a willingness to commit to long-term goals, and to persist in the face of difficulty. Studies show that gritty people obtain more education in their lifetime, and earn higher college GPAs. Grit predicts which cadets will stick out their first grueling year at West Point. In fact, grit even predicts which round contestants will make it to at the Scripps National Spelling Bee.

The good news is, if you aren't particularly gritty now, there is something you can do about it. People who lack grit more often than not believe that they just don't have the innate abilities successful people have. If that describes your own thinking .... well, there's no way to put this nicely: you are wrong. As I mentioned earlier, effort, planning, persistence, and good strategies are what it really takes to succeed. Embracing this knowledge will not only help you see yourself and your goals more accurately, but also do wonders for your grit.

7. Build your willpower muscle. Your self-control "muscle" is just like the other muscles in your body — when it doesn't get much exercise, it becomes weaker over time. But when you give it regular workouts by putting it to good use, it will grow stronger and stronger, and better able to help you successfully reach your goals.

To build willpower, take on a challenge that requires you to do something you'd honestly rather not do. Give up high-fat snacks, do 100 sit-ups a day, stand up straight when you catch yourself slouching, try to learn a new skill. When you find yourself wanting to give in, give up, or just not bother — don't. Start with just one activity, and make a plan for how you will deal with troubles when they occur ("If I have a craving for a snack, I will eat one piece of fresh or three pieces of dried fruit.") It will be hard in the beginning, but it will get easier, and that's the whole point. As your strength grows, you can take on more challenges and step-up your self-control workout.

8. Don't tempt fate. No matter how strong your willpower muscle becomes, it's important to always respect the fact that it is limited, and if you overtax it you will temporarily run out of steam. Don't try to take on two challenging tasks at once, if you can help it (like quitting smoking and dieting at the same time). And don't put yourself in harm's way — many people are overly-confident in their ability to resist temptation, and as a result they put themselves in situations where temptations abound. Successful people know not to make reaching a goal harder than it already is.

9. Focus on what you will do, not what you won't do. Do you want to successfully lose weight, quit smoking, or put a lid on your bad temper? Then plan how you will replace bad habits with good ones, rather than focusing only on the bad habits themselves. Research on thought suppression (e.g., "Don't think about white bears!") has shown that trying to avoid a thought makes it even more active in your mind. The same holds true when it comes to behavior — by trying not to engage in a bad habit, our habits get strengthened rather than broken.
If you want change your ways, ask yourself, What will I do instead? For example, if you are trying to gain control of your temper and stop flying off the handle, you might make a plan like "If I am starting to feel angry, then I will take three deep breaths to calm down." By using deep breathing as a replacement for giving in to your anger, your bad habit will get worn away over time until it disappears completely.

It is my hope that, after reading about the nine things successful people do differently, you have gained some insight into all the things you have been doing right all along. Even more important, I hope are able to identify the mistakes that have derailed you, and use that knowledge to your advantage from now on. Remember, you don't need to become a different person to become a more successful one. It's never what you are, but what you do.

Reference

Halvorson, H. (2011) Nine Things Successful People Do.

Retrieved from http://blogs.hbr.org/cs/2011/02/nine_things_successful_people.html

Strategic Vision

noreply@blogger.com (TheBSAICGroup) — Mon, 03 Oct 2011 05:36:00 +0000

Creating and nurturing executive strategy is a foundational part of leading and managing an enterprise. The beginning stage in the strategic process is establishing a direction, which drives an enterprise forward. Dr. Sofia Vanderbrock (2010) of the Xerox Corporation states, “If you can articulate a vision that makes people passionate, there are so many amazing things you can do” (p. 21). The approach to moving a firm forward begins with where the firm should end up and once established, directions and routes are need to navigate the firm there. Thompson (2010) suggests a five-step process to developing a strategic vision.

1. Developing a strategic vision of where the company needs to head and what its future product/customer/market/technology focus should be.

2. Setting objectives and using them as yardsticks for measuring the company’s performance and progress.

3. Crafting a strategy to achieve the objectives and move the company along the strategic course that management has charted.

4. Implementing and executing the chosen strategy efficiently and effectively.

5. Evaluating performance and initiating corrective adjustments in the company’s long-term direction, objectives, strategy, or execution in light of actual experience, changing conditions, new ideas, and new opportunities.

Through the utilization of this approach, firms many gain a stronger grasp on leading a firm forward to meeting tomorrows demands.

Reference

Thompson, A. (2010). Crafting and Executing Strategy. (17) 21-26

Risk

noreply@blogger.com (TheBSAICGroup) — Sun, 04 Sep 2011 06:30:00 +0000

Vargas-Hernandez et al. indicates that there is no universal definition for risk as the term is continuously changing and it becomes intertwined with innovation and globalizing world (2010). The article continues by stating Edwards and Bowen’s (2005) standard definition as, “Risk is the combination of the frequency or probability of occurrence and the consequence of a specified hazardous event”(p.235).

Addressing organizational risk can bring clarity to the situation and create opportunity for response and initiating change to prepare, avoid or fix future occurrences of damaging risk. Ellingson suggests a three-step rating process to assessing risk though the variables 1) Probability of a risk event occurrence 2) The impacts of the risk (e.g. financial and nonfinancial) 3) The existence of controls to diminish risk (2009, p.52). In my experience as a leader by placing prospective to the situation has eased levels of anxiety and has led to more effective planning by accounting for internal and external risks involved with the decision making process.

When approaching situations of minimal risk involved, I have been confident with a two to three person agreement. In situations with a greater opportunity of unknown risk (e.g. company mergers, restructuring, product/service introduction, etc.) I prefer a collective organizational response amongst leaders as their specialty and interest is relevant to different sectors. A similar approach is suggested by Atkins and Florio (2009) “The placement of risk managers within business units allows companies to manage risk at the operational level. The resulting collegial tension can uncover risks that might otherwise go unnoticed or fail to be addressed properly” (p.32). The decisions required all major company stakeholders to assess their areas risk and evaluate positive and negatives. The result provided good insight through the diverse perspectives, resulting in a move towards a sustainable future.

References

Atkinson, J., & Florio, C. (2009). Risk governance: Foundation for long-term value. Financial Executive, 25(9), 32–34.

Edwards, P. J., & Bowen, P. A. (2005). Risk Management in Project Organization. University of New South Wales Press Ltd. Australia.

Ellingson, J. (2009). Managing risk with a cultural perspective. Risk Management, 56(10), 50–53.

Vargas-Hernández, J. G., Noruzi, M., & Narges, S. (2010). Risk or Innovation, Which One Is Far more Preferable in Innovation Projects?. International Journal of Marketing Studies, 2(1), 233-244. Retrieved from EBSCOhost.

Quality leads to CA

noreply@blogger.com (TheBSAICGroup) — Sat, 27 Aug 2011 06:54:00 +0000

Quality management has become a critical aspect on the global stage in internal and external business environments. Talib and Rahman (2010) suggest. “In the globalized economy, survival of organizations heavily depends upon delivering quality products and services with focus on customer satisfaction and delighting them continuously in every aspect of its operations” (p.363). Ionica et al. (2010) suggest, “Quality management has represented a rebirth in organization management with an emphasis on excellence” (p.125). Addtionally, literarue supports customer satisfaction carries a strong correlation to organizational financial performance (Cameran, Moizer & Pettinicchio, 2010). Thus, supporting that quality management is an imperative approach to increase consumer satisfaction in order to gain competitive advantage in the global market.

Shiramizu, S., & Singh, (2007) suggest that many people believe that in order to achieve quality, one needs to invest a lot of time, money, and effort. Although initially this theory holds some truth, in the long run, leadership within the organization plays a more important role in achieving and maintaining quality. Quality does not evolve over- night. People need to dedicate themselves and their companies to having quality practices and policies in order to gain a reputation of delivering quality. The three main keys to attaining sustainable quality within the organization include: 1) motivating employees through empowerment to dedicate them selves to their work; 2) investing time and money in training and developing employees into leaders; and 3) reinforcing core values in employees to maintain quality practices. Quality can be achieved if management and workers believe in achieving successful leadership within the organization (p. 129).

Through the implementation of quality management organizations are seeing results through the internal investment in human capital and established resources to increase quality and performance internally leading to external competitive advantage. Research suggests that determining the influence of quality management elements on resources can advance managerial approaches to combine competencies and capital in order to gain and maintain competitive advantage (Moreno, Fernandez, & Montes, 2009). As services quality increases, the impact would be anticipated that consumer experience would increase and influence customer satisfaction levels.

An additional consideration is employees in a quality management-based culture need to foster change in order to impact the opportunity for improvement. The engagement of employees to accept change is the key aspect when seeking to modify procedures and behaviors. By gaining stakeholder (e.g., investor, employee, manager, etc.) support, organizations can successfully employ new methods and approaches to increase service and product quality in order to gain competitive advantage.

We propose a conceptual model for quality impact

Quality > Satisfaction Level > Financial Performance

> Consumer Loyalty

> Corporate Image = COMPETITIVE ADVANTAGE

References:

Cameran, M., Moizer, P., & Pettinicchio, A. (2010). Customer satisfaction, corporate image, and service quality in professional services. Service Industries Journal, 30(3), 421-435. doi:10.1080/02642060802236111

IONICĂ, A., BĂLEANU, V., EDELHAUSER, E., & IRIMIE, S. (2010). TQM AND BUSINESS EXCELLENCE. Annals of the University of Petrosani Economics, 10(4), 125-134. Retrieved from EBSCOhost

Moreno, A., Fernandez, L., & Montes, F. (2009). The moderating effect of slack resources on the relation between quality management and organizational learning. International Journal of Production Research, 47(19), 5501-5523. doi:10.1080/00207540802014692

Shiramizu, S., & Singh, A. (2007). Leadership to Improve Quality within an Organization. Leadership & Management in Engineering, 7(4), 129-140. doi:10.1061/(ASCE)1532-6748(2007)7:4(129)

TALIB, F., & RAHMAN, Z. (2010). Critical Success Factors of TQM in Service Organizations: A Proposed Model. Services Marketing Quarterly, 31(3), 363-380. doi:10.1080/15332969.2010.486700

Leaders v. Managers

noreply@blogger.com (TheBSAICGroup) — Thu, 25 Aug 2011 07:28:00 +0000

By comparison leadership and management may be mistaken as similar positions but differ through many aspects in responsibility and leadership style. A position in leadership is carries the responsibilities of being an advocate for change and risk whose interest in people and is reflected by a following. In contrast to leadership, management is an authoritarian driven position over subordinates whose responsibility is task driven. A role of leadership is to define long term goals in moving the organization forward; mission statements and company vision development are a few examples. Management’s role is to ensure that the organizational vision and mission is met effectively.

Romero (2010) describes the occupational duties of a leaders and management as:

Leadership

• Establishes direction: A leader develops a vision and the necessary strategy for achieving such vision.

• Aligns people: A leader communicates the direction in such a way that all those whose cooperation is needed, understand it, accept it, and act upon it.

• Motivates and inspires: A leader helps people to overcome barriers to change, by satisfying basic human needs.

Management

• Plans and budgets. A manager sets up timetables to achieve results, and allocates needed resources for execution.

• Organizes and staffs. A manager sets up structures to achieve the plan, staffs the structure, delegates authority to execute the plan, provides policies and procedures to guide the staff, and creates systems to monitor the execution.

• Controls and solves problems. A manager keeps an eye on outcomes, detects variations from the plan, and plans and organizes to correct such variations (p 3).

References

Romero, J. (2010). Leadership vs. Management Skills. Health Care Registration: The Newsletter for Health Care Registration Professionals, 19(8), 3-4. Retrieved from Business Source Complete database.

Increase Performance

noreply@blogger.com (TheBSAICGroup) — Sun, 21 Aug 2011 09:06:00 +0000

An approach to increasing organizational performance and be viewed at many angles, within this discussion, I will break down a strategy-based view leading to organizational performance and competitive advantage. Healy, et. al. (2010) indicates, “Theories of the strategic determinants of firm performance concentrate more on the efforts of firms in creating competitive advantage by developing internal routines and exploiting synergies rather than through structural maneuvering” (p.512). The study specifies three points of research that support this theory, the resource based view, corporate leadership and strategic decision making (Healy, et. al., 2010).

The resource-based view draws upon organizational performance and carries a positive correlation with resources (e.g. human capital, physical goods, organizational campuses, etc.) that is related in the decision making process. Crook, et. al. (2008) supports this view by stating, “Numerous studies have examined resource based theory assertion that the extent to which organizations possess strategic resources is positively related to performance” (p.1142). The effective use of these resources may provide the opportunity for competitive advantage. A prime example would be the shift to using cloud technology so that organizational member can access work document at any given location increasing efficiency.

Another article ties leadership qualities into the resource based view as a complementing resource to the strategic based view. Effective leadership is a quality that strengths culture indirectly through the enhancement of employee performance increase human capital and organizational performance (Zhou, 2008). A prime example would be employee evaluation, which critiques employee performance and provides the opportunity for occupational enrichment and motivation while increase organizational efficiency (performance), thus increasing competitive advantage.

A Harvard Business Review article reflects the importance of shifting strategic planning to an effective process beyond traditional tactics (e.g. annual, calendar processes, etc.) leading to a better decision making process, thus impacting organizational performance outcomes. By focusing on key themes, continuous strategic process development, and structuring that yields the opportunity for decisions to be made will change organizational approach increase effectiveness in the planning process (Mankins & Steele, 2006). An example would implement operational outcome assessment which is a continuous review process that ties organizational performance and need to budgetary allocations in order to effectively make decisions and increase organizational performance. Mankins and Steele (2006) conclude, “Done right, strategic planning can have an enormous impact on a company’s performance and long-term value. By creating a planning process that enables managers to discover great numbers of hidden strategic issues and make more decisions, companies will open the door to many more opportunities for long-term growth and profitability” (p.84).

By coming these strategic practices organizations can sustain efficiency, increase performance and their competitive advantage within the market.

References

Crook, T., Ketchen Jr., D. J., Combs, J. G., & Todd, S. Y. (2008). Strategic resources and performance: a meta-analysis. Strategic Management Journal, 29(11), 1141-1154. Retrieved from EBSCOhost.

Healy, W., Knaus, E., Matthews, W., & Mir, R. (2010). Strategy In an Era of Economic Uncertainty: Integrating External and Internal Antecedents of Firm Performance. Proceedings of the Northeast Business & Economics Association, 511-516. Retrieved from EBSCOhost.

Mankins, M. C., & Steele, R. (2006). STOP MAKING PLANS START MAKING DECISIONS. Harvard Business Review, 84(1), 76-84. Retrieved from EBSCOhost.

Zhou, K., Li, J., Zhou, N., & Su, C. (2008). Market orientation, job satisfaction, product quality, and firm performance: evidence from China. Strategic Management Journal, 29(9), 985-1000. Retrieved from EBSCOhost.

Data Quote

noreply@blogger.com (TheBSAICGroup) — Wed, 10 Aug 2011 21:25:00 +0000

"Data does not make meaning; we make meaning from data."
-RP Group

Forecast Brief

noreply@blogger.com (TheBSAICGroup) — Mon, 08 Aug 2011 17:37:00 +0000

Russell and Taylor (2011) present an excellent approach to describing forecasting in the supply chain system.

A company's supply chain encompasses all of the facilities, functions, and activities involved in producing a product or service from suppliers (and their suppliers) to customers (and their customers). Supply chain functions include purchasing, inventory, production, scheduling, facility location, transportation, and distribution. All these functions are affected in the short run by product demand and in the long run by new products and processes, technology advances, and changing markets.

Forecasts of product demand determine how much inventory is needed, how much product to make, and how much material to purchase from suppliers to meet forecasted customer needs. This in turn determines the kind of transportation that will be needed and where plants, warehouses, and distribution centers will be located so that products and services can be delivered on time. Without accurate forecasts, large stocks of costly inventory must be kept at each stage of the supply chain to compensate for the uncertainties of customer demand. If there are insufficient inventories, customer service suffers because of late deliveries and stockouts. This is especially hurtful in today's competitive global business environment, where customer service and on-time delivery are critical factors.

Accurate forecasting determines how much inventory a company must keep at various points along its supply chain.

While accurate forecasts are necessary, completely accurate forecasts are never possible. Hopefully, the forecast will reduce uncertainty about the future as much as possible, but it will never eliminate uncertainty. As such, all of the supply chain processes need to be flexible to respond to some degree of uncertainty.

Reference

Russell, R. S., & Taylor, B. W., III. (2011). Operations management: Creating value along the supply chain (7th ed.). Hoboken, NJ: John Wiley & Sons.

What is Foreign Direct Investment?

noreply@blogger.com (TheBSAICGroup) — Mon, 08 Aug 2011 17:05:00 +0000

Krifa-Schneider and Matei (2010) suggest “Foreign Direct Investment an engine of the growth for countries, providing a package of financial capital, technology, managerial skills, jobs opportunities, information, good and services that can make an economy more competitive in the world market place” (p.54). By seizing opportunity of developing nations investors can progress organizational span, but may face different issues of climate and the variables effecting risk and outcomes of investment. A study determines business climate change and political risk as key indicators determining positive foreign investment (Krifa-Schneider & Matei, 2010). The advantages of identifying a production or distribution facilities within each of these regions could decrease cost while meeting demand beyond and facing tariffs for importing and exporting goods. Additionally, the creation of jobs within these regions will increase organizational recognition and loyalty amongst the employees and regional citizens to invest and consume products and services provided by the organization.

A prime example would be the Colombian government, which has been promoting foreign direct investment for the past two decades since the county’s liberation movement in the 1990s. Tariff barriers affecting Colombia and other South American counties have been shifted to a more simplified approach with the adoption of the Common External Tariff (CET). Additionally the ATPA provides preferential treatment for exports to the United States, which can create an alternative for income sources (2011). Thus, opening a market for new foreign investments and encourages regional expansion.

France is another enticing region of foreign investment as the government has privatized many large organizations, banks, and insurers while retaining stakes in many leading organizations and is dominant force in power, public transport, and defense industries. The government encourages foreign investment as means to create jobs and stimulate growth (2011). By creating an open arena for foreign investment, France has provided opportunity for expansion and sustainability.

China has been a juggernaut of sustaining high economic growth though expansions in investment and in building the largest defense systems and is considered the second largest recipient of foreign investment. According the Political Risk Yearbook (2011), “China has a legal and regulatory framework granting it the authority to restrict foreign investment that it deems not to be in China’s national interest” (p.47). As many of these regulations go undefined, they are used to shield inefficient or monopolistic enterprises from foreign competition (2011). The strategic approach used by China provides self-sufficient advantage by focusing on internal success not boosting outside countries.

References

China. (2011). Political Risk Yearbook: China Country Report, U-1-25. Retrieved from EBSCOhost.

Colombia. (2011). Political Risk Yearbook: Colombia Country Report, PRI-1-19. Retrieved from EBSCOhost.

Foreign Investment Climate. (2011). France Country Review, 146-150. Retrieved from EBSCOhost.

Krifa-Schneider, H., & MATEI, I. (2010). Business Climate, Political Risk and FDI in Developing Countries: Evidence from Panel Data. International Journal of Economics & Finance, 2(5), 54-65. Retrieved from EBSCOhost.

Inventory and Quality Management

noreply@blogger.com (TheBSAICGroup) — Thu, 28 Jul 2011 00:19:00 +0000

Russell and Taylor (2011) paint a good description of the importance of inventory management on customer service withing the supply chain by stating:

A company maintains inventory to meet its own demand and its customers' demand for items in the supply chain. The ability to meet effectively internal organizational demand or external customer demand in a timely, efficient manner is referred to as the level of customer service. A primary objective of supply chain management is to provide as high a level of customer service in terms of on-time delivery as possible. This is especially important in today's highly competitive business environment, where quality is such an important product characteristic. Customers for finished goods usually perceive quality service as availability of goods they want when they want them. (This is equally true of internal customers, such as company departments or employees.) To provide this level of quality customer service, the tendency is to maintain large stocks of all types of items. However, there is a cost associated with carrying items in inventory, which creates a cost tradeoff between the quality level of customer service and the cost of that service.
As the level of inventory increases to provide better customer service, inventory costs increase, whereas quality-related customer service costs, such as lost sales and loss of customers, decrease. The conventional approach to inventory management is to maintain a level of inventory that reflects a compromise between inventory costs and customer service. However, according to the contemporary “zero defects” philosophy of quality management, the long-term benefits of quality in terms of larger market share outweigh lower short-term production-related costs, such as inventory costs. Attempting to apply this philosophy to inventory management is not simple because one way of competing in today's diverse business environment is to reduce prices through reduced inventory costs.

Efficient inventory distribution is a crucial function for organizations to adequately meet and maintain consumer demand and satisfaction. Research indicates by employing leaner inventory approaches, organizations are reducing working capital while increasing sales and customer satisfaction (Wadhwa et al, 2006). Thus, the challenges managers face is the foresight to adapt to consumer trends and buying habits while forecasting effective measures to determine an inventory system which will meet demand and lower capital outlay. Additionally, the challenge of a constantly changing global competitive climate has affected the cost of inventory due to the product obsolescence (Russell & Taylor, 2011). Organizations have responded through the integration of supply chain, quality and inventory management systems, in order to increase quality and effectiveness. Cheung et al, suggest that the integration of knowledge based inventory management systems provides an accurate and dynamic forecasting for streamlining inventory replenishment (2005). The impact of integrating this quality management approach can provide positive outcomes of improved performance and increased customer satisfaction. Talib et al (2010) indicate that “Better quality and timely delivery of products and services will improve customer satisfaction and strengthen the organizational competitiveness” (p.27). By employing knowledge based inventory systems organizations can reap the benefit of quality improvement for the consumer and organization.

References

Cheung, C. F., Wang, W. M., & Kwok, S. K. (2005). Knowledge-based inventory management in production logistics: a multi-agent approach. Proceedings of the Institution of Mechanical Engineers -- Part B -- Engineering Manufacture (Professional Engineering Publishing), 219(3), 299-307. doi:10.1243/095440505X28990

Russell, R. S. & Taylor, B. W. (2011). Operations management: Creating value along the supply chain, (7th Ed.). John Wiley & Sons: Hoboken, NJ.

Talib, F., Rahman, Z., & Qureshi, M. N. (2010). Integrating Total Quality Management and Supply Chain Management: Similarities and Benefits. IUP Journal of Supply Chain Management, 7(4), 26-44. Retrieved from EBSCOhost.

Wadhwa, S. S., Kanda, A. A., Bhoon, K. S., & Bibhushan. (2006). Impact of Supply Chain Collaboration on Customer Service Level and Working Capital. Global Journal of Flexible Systems Management, 7(1/2), 27-35. Retrieved from EBSCOhost.

Decision Making

noreply@blogger.com (TheBSAICGroup) — Sat, 23 Jul 2011 09:34:00 +0000

Steven Robins (2005) presents an excellent approach to the decision making process with the path to critical thinking.

Make sure you understand the logic behind your decision.
Identify your assumptions and double-check them.
Collect the data that will support or disprove your assumptions.
Deliberately consider the situation from multiple frames.
Remember the people!
Think short and long term

Reference
Robins, S. (2005) The Path to Critical Thinking. Retrieved from http://hbswk.hbs.edu/archive/4828.html

Competitiveness and the effect on the Net

noreply@blogger.com (TheBSAICGroup) — Fri, 22 Jul 2011 08:29:00 +0000

Balkytė, A., & Tvaronavičienė, M. (2010) reflect on Law’s (2009) definition, “Competitiveness is the ability of an organization to compete successfully with its commercial rivals” (p.343). But, the term competitiveness can fall under different categories and has been defined through different scopes.

Black et al. describes the industrial scope of competitiveness as the ability to compete in a global market through the provision of goods and services with the competitive advantage being between organizational characteristics (e.g., quality, reputation, etc.) and price variation (2009). These variables may be the determinants leading to competitive advantage as they are measured based on sales and growth data. The Internet has been key in the price variation by allowing consumers to access a plethora of goods and services at highly competitive rates.

Regional competitiveness is difficult to define as researchers indicate there are multiple definitions for the term region. Snieška and Bruneckienė present regional competitiveness as “The ability to use factors of competitiveness in order to make a competitive position and maintain it among other regions” (p.46). Research suggests the issue in identifying regional competitiveness is the diversity of economic social indicators, which requires many complex measurements to define attributes of a region. Through the development of an indexed measurement tool, researcher may have clarity in defining regional indicators of a specific definition, thus providing a pathway of variables within the regional definition to conduct and analysis (Snieška & Bruneckienė, 2009).

Samanta and Sanyal (2010), present national competitiveness as “The facts and policies that shape the ability of a nation to create and maintain an environment that sustains more value creation for its enterprises and more prosperity for its people” (p.90). Organizational success is reliant upon the market it enters, thus making competitive a key factor when entering a new environment. The researchers suggest measurement of national competitiveness is through qualitative (surveying) and quantitative (hard data) analyses and compiled into annual rank reports (Samanta & Sanyal, 2010). The impact of the Internet is highly effective tool towards reaching new consumers and has allowed organizations to globalize faster through this instant global portal.

References

Balkytė, A., & Tvaronavičienė, M. (2010). PERCEPTION OF COMPETITIVENESS IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT: FACETS OF ''SUSTAINABLE COMPETITIVENESS''. Journal of Business Economics & Management, 11(2), 341-365. doi:10.3846 / jbem. 2010.17

Black, J.; Hashimzade, N.; Myles, G. (2009). A Dictionary of Economics. Oxford University Press National Library of Lithuania. Retrieved from: <http://www.oxfordreference.com/views/ENTRY.html?subview=Main&entry=t19.e1657>.

Samanta, S. K., & Sanyal, R. N. (2010). NATIONAL COMPETITIVENESS AND PERCEPTION OF CORRUPTION. Advances in Competitiveness Research, 18(1/2), 89-101. Retrieved from EBSCOhost.

Snieška, V., & Bruneckienė, J. (2009). Measurement of Lithuanian Regions by Regional Competitiveness Index. Engineering Economics, 61(1), 45-57. Retrieved from EBSCOhost.

Business Ecosystems

noreply@blogger.com (TheBSAICGroup) — Wed, 06 Jul 2011 04:59:00 +0000

The process of building alliances to discover new opportunity and growth can be discovered within the umbrella of a business ecosystem. By building an effective network organizations can create new disruptions in the market and gain competitive advantage.

Become a Listener

noreply@blogger.com (TheBSAICGroup) — Tue, 01 Mar 2011 16:44:00 +0000

Developing an environment to conduct effective communication relies on a leader's ability to openly embrace diversity, critique, listening and respect within the group. By utilizing these factors in a collaborative effort can produce positive outcomes in team driven decisions while gaining organizational support and provide opportunities for innovation.

The Future

noreply@blogger.com (TheBSAICGroup) — Mon, 28 Feb 2011 09:53:00 +0000

The pace of change within the world of technology is always at a constant. Organizations looking to adapt to these new technologies usually find themselves behind the curve after full implementation of the “new” technology. The cost of new technology along with the costs of implementation creates a large price tag to keep modifying. The following presents a brief into the predictions of 2011 to 2013 for communication technology for the future.

There will be a major shift to mobile devices that will interact wirelessly and relieve individuals from being stuck at a computer desk all day. The use of the cloud, online with virtual meeting applications can pride individuals the opportunity to work, attend meetings, present information etc. on the go. This will lead to mass telecommuting which will be many organizations response to the growing cost in oil and gasoline. These devices will be handheld multi-core processor tablets with built in face time cameras.

Got Research?

noreply@blogger.com (TheBSAICGroup) — Mon, 28 Feb 2011 09:52:00 +0000

The process of research is essential in many aspects of organizational strategy. Efficient research can produce evidence for the decision making process in order to assist in the organization achieving success. Three ways to gather information would be through qualitative, quantitative or mixed methods (qualitative and quantitative) approaches. Depending on the level of organizational expertise, many suggest outsourcing these projects, but organizational forecasting and structure is leaning towards evidence based decision making which has prompted many organizations to develop research base sectors.

Change Fails

noreply@blogger.com (TheBSAICGroup) — Mon, 28 Feb 2011 09:51:00 +0000

Studies show that between 50 and 70 percent of change initiatives fail. Many factors can contribute to organizational failure towards change management (e.g. culture, lack of incentives, information, insufficient planning and implementation process). The following presents a few of many solutions for leaders

Be innovative by focusing on the opportunities for change as oppose to fighting business fires (problems).
Focus on listening and diverse collaboration, which can prompt innovation beyond one own expertise.
Shift away from self-focused to service by preparing organizations for change to alleviate stress through effective guidance, management, and implementation.

How Does Diversity Contribute?

noreply@blogger.com (TheBSAICGroup) — Mon, 28 Feb 2011 09:50:00 +0000

Diversity within the decision making process is crucial to defining new modes of collaborative efforts led by of individuals with different backgrounds and outlooks that can provide insight and inspire new innovation within the organization. Additionally, utilizing the KSAs of the employees can spark engagement and support throughout the organization.

Embracing New Entrants

noreply@blogger.com (TheBSAICGroup) — Mon, 28 Feb 2011 09:49:00 +0000

It sounds absurd to embrace new completion especially the release of products and services, but on the contrary this release of new products and services provides the opportunity for disruptive innovation. Disruptive innovation is innovative modification to current products to lower cost, increase features or expand organizational offerings. A prime example would be the early release of memory card MP3 players which were replaced by Apple’s iPod and iTunes music store.

Leaders vs. Managers

noreply@blogger.com (TheBSAICGroup) — Mon, 28 Feb 2011 09:48:00 +0000

There are many misconceptions about these roles and their effect on an organization. The following presents a brief overview to clear up some the confusion.

Leader Roles:

Focuses on vision, innovation, trust, relationships, inspiration, change and continuous improvement.
Leaders utilize emotional intelligence, which is driven by goal achievement motivation that inspires an increase of employee effort and support.

Managerial Roles:

Directs resources in order to complete process toward achieving organizational goals.
Responsibilities include organizing, hiring, training, evaluating, problem solving, and supervising projects and subordinates.

The bottom line is each position can possess the skills sets between the positions but each role carries a level of importance that is an essential part of achieving organizational success.

Six IDs for Starting a Business

noreply@blogger.com (TheBSAICGroup) — Mon, 28 Feb 2011 09:40:00 +0000

Welcome to the wonderful world of the greatest headache you will love like it is your first-born child. Actually, I was not serious about the headache in my perspective business is a game that should be fun and being driven by engagement can result in more positive approaches and outcomes within all situations. With that into aside, the following presents six important IDs prior to opening a business.

1. Identify a need for product or service

2. Identify your market (potential consumers interest, financial backgrounds)

3. Identify availability to you

4. Identify competition and similar products or services

5. Identify your funding source

6. Identify a plan