SWOT analysis is one of the most well-known concepts in the corporate world for strategic planning. In a nutshell, SWOT analysis enables companies to identify what they are good at and what they need to work on more for improvements, from both internal and external points of view. Internal elements include employees, IT infrastructure, office …
Overview of Business Intelligence Business intelligence (BI) is the process of achieving data from a data warehouse to produce business reports and analysis. It enables companies to decrease their information technology structure costs (e.g., hardware costs, software costs, human operation costs) by removing redundant data. BI tends to solve problems in an organization with enormous …
Current technology and the business environment have made creativity more important than ever to businesses. Not only do companies continually need to come up with new products and reinvent themselves, but they also need to do those tasks creatively. There are many creative problem-solving tools that organizations can use to increase their competitiveness. Within the …
In today’s business world, where everything is continuously changing at a fast pace, the ability to arrive at solutions to new problems is in demand. It is a multistage process for businesses to come up with the right solutions for their problems. This post goes through the nine-stage process model for creative problem-solving. The process …
Texas Instruments (TI) and Hewlett-Packard (HP) were two electronics firms that developed, manufactured, and sold electronic products. Although the two firms operated in similar industries, they chose very different management control systems and strategies. While TI’s competitive advantage was mainly based on high volume and low price, HP’s competitive advantage was to manufacture high-value and …