Business management ensures proper running of the business.The manager ensures there is time saving and also cutting down production and other costs.This aims at giving a higher profit.
- Cost efficiency
Simply slashing budgets is no longer a viable option in organizations that have become leaner in response to global economic conditions during recent years. There simply is not much left to cut. However, in order to thrive, organizations still need to maximize the efficiency of the costs they do incur and profit they generate. And BPM is a driving strategy towards maximizing cost efficiency by streamlining business operations and collaboration, automating repetitive tasks, improving product quality and reducing corporate risks.
Comindware BPMS combines process management and workflow management with task management and built-in real-time reporting and analysis, so teams collaborate more effectively within both routine workflows and profit-generating projects and bring their projects to fruition within budget, with reported cost savings of 30% to 50%.
- Business agility
A trend in BPM is toward more nimble processes that respond to organizational learning in the marketplace. This has led to a greater demand for ultra-flexible tools that are easy to design, change and deploy. Generally, agility incorporates the following elements, all of which are facilitated by Comindware:
- Process management: With Comindware BPM, process management comes in the form of workflows that you can change on-the-fly. You can re-use workflows wherever you need to and customize them as you go.
- Rule management: As work management moves into an unstructured, collaborative age, rules management will be the way to stay properly governed, visible, and compliant, while keeping processes on track. Comindware features on-the-fly rule configuration for each department, function or project (whether structured or unstructured), as needed. This provides unique flexibility not seen in other work management tools.
- Integration and automation: Comindware offers comprehensive solution that support process and case management as well as pre-integrated with Project Management. The fact that this all sits on one organization-wide database means that the company has full control, full visibility and full real-time reporting and analysis capability.
At conclusion
Could your organization benefit from improvements in the following areas?
- Increased customer satisfaction and shorter time-to-market for products and services
- Greater efficiency (and cost savings) with existing applications and processes
- Greater team satisfaction as collaboration and best practices are improved
- Full transparency of all activities across the team and organization
Sourced from: https://www.comindware.com/blog/leadership/benefits-of-business-process-management/
To manage your business hire the right people and pay them well.The aim is to have a loyal staff team.this creates consistency in service and it also saves on recruiting and training charges.
You don’t have to be a fortune 500 (or even a fortune 500,000) company to take advantage of these tips for good business practice. In fact, some of the best small businesses have evolved and succeeded by implementing some of these principles.
Hire the Right People.
If you are technically proficient in your field but lack marketing knowledge and expertise for example, then be prepared to hire the right people to fill in the blanks. This will start the trend of people beating a path to your door. The next trick is to keep them coming back and referring their friends.
Don’t Hire your Friends!
This may seem obvious to some, yet I’ve seen it done over and over again. Not only can it compromise (and in some cases destroy) a perfectly good friendship, but it can do the same to the business.
Sometimes, it works. But hire with caution, and a heck of a lot of communication (both in the friendship and business). Be prepared to wear different hats while at work and after work.
Hiring/Promoting From Within isn’t Always Good.
Although promoting from within encourages staff to “reach for the stars” and gives certain personality types something to work for, it isn’t a good idea to categorically hire from within. Sometimes the skill sets just aren’t there within the existing employee base.
Good Business is in Consistency.
This could be the very key itself to good business practice. If you do nothing else, be consistent. E-Myth is an excellent book by Michael Gerber centered around this crucial concept.
Consistency is what franchises are built around. McDonald’s pioneered and epitomizes this idea. When you walk into a McDonald’s anywhere in the world, you know exactly what you are going to get when you order a quarter pounder, right down to the exact ingredients, quantities, and order of toppings.
With consistency, professionalism, proper planning of strategies, and alignments with the experts, you can run a top-notch successful business. Don’t reinvent the wheel, or ever find yourself saying “my business is different, I don’t have to follow that rule”. Because the wheel is pretty darn efficient, and I’m sorry to say, your business just isn’t that different. Good business management equals good business. Period.
Sourced from: http://www.wisebread.com/six-tips-to-good-business-management