India: Business Consulting | Property Solutions

What is Business Process Management?
Business Process Management also called as BPM is a practice of improving the effectiveness and efficiency of an organization mechanizing the business process. According to the business model, each company will have different Business processes. When the business reacts to market conditions, this process tends to advance over a period of time. The BPM you choose should be easily adaptable to any type of conditions and requirements and should be a perfect fit to the company.

What is the life cycle of BPM?
Business process management is having five stages and is grouped as- design, modeling, execution, monitoring, and optimization.

Design-
Process design involves of identifying the existing process and if necessary re-designing it. Perfect designing increases the lifetime of BPM and reduces the issues. The main areas includes- Standard Operating Procedures, representation of the process flow, Service Level Agreements, escalations and task hand-over mechanisms.

Modeling-
Modeling gives the theoretical design and brings up different variables. It also involvers in “What if Analysis”.

 Execution-
The mentioned design and process has to be executed with the help of available resources.

Monitoring-
It includes tracking of individual processes so that the information can be easily seen and performance based statics can be easily provided.

Optimization-
Optimization involves getting performance information from modeling and monitoring phases, identifying the cost savings and again applying those in the design of the process. This overall process creates great business value to the organization.

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What is strategic Business Planning?
Strategic Business Planning is one of the ways to make out the long-term goals and to construct a route for the business to fulfill its objectives. One shouldn’t confuse with the business plan, which is a more substantial and detailed document. Strategic Business Planning is a step-by-step mapping to accomplish the stated vision and mission of the business or organization and to serve its customers efficiently, profitably and constantly. In other words, we can tell as a frame work for a business plan.

What is the use of strategic business planning?
For some business issues like product development strategies, market planning, etc… the strategic business planning acts as a systematic & management tool. A strategic business planning includes the present and future planning, company’s mission in terms of future expansion, strengths and weaknesses, future opportunities, and some threats that which may occur by competing business rivals.

Why do businesses need strategic business planning?
Small businesses need these strategic business plans as they found to compete with larger corporations in this highly competitive world. Due to the rapid increase in technology, the business management is becoming complex and for this purpose, the strategic business planning helps the business to foresee and quickly react to the market changes and can improve the areas that are lagging behind. For instance, we can’t say that the company is going well if it has good financial control. We can’t determine the future of the organization and the direction. Here, some measures have to be taken to evaluate and improve upon the controllable variables.

Here are some success factors for a business to achieve its vision and mission:

   1. Should maintain quality standards of the product.
   2. Continuous market research to fulfill your customer needs.
   3. Attaining credibility
   4. Cost-effective manufacturing of the products
   5. Administrative and system policies which ensure that all employees do their jobs effectively.
   6. Profitability of the business

 Shriyans Management Consultants P Ltd has been providing strategic business planning for start ups and for small businesses. Contact them for more assistance.