The following points highlight the three main types of plans that are made to achieve the objectives through the company policies. The plans are:- 1. Strategic Plans 2. Intermediate-Range Plans 3. Short-Range Plans. Type # 1. Strategic Plans : They determine both the major objectives of an organisation and the policies and strategies to achieve those objectives. Strategic plans are [...]
Michael Hammer and James champy defined BPR as "the FUNDAMENTAL rethinking and RADICAL redesign of the business PROCESS to achieve DRAMATIC improvement in the critical contemporary measures of performance such as costs, quality, service, and speed." This definition contains the four key words: Fundamental: Why do we do what we do? Why do we do it that way? Radical: Signifies [...]
In this article we will discuss about the criteria for selection of business unit managers in a company’s portfolio with the help of BCG matrix. 1. Question Marks: Its primary goal is growth. These businesses require entrepreneurial managers capable of creating new products and developing new markets. For such tasks, individuals with product development, market research, and developmental engineering backgrounds [...]