- Business Process Management Systems

Business Process Management has been in place for some time now. Due to the introduction of software tools, however, there has been renewed interest in the body of knowledge pertaining to BPM. These software tools make design and implementation of Business Process Management easier, cheaper, and more efficient. There are three categories of Business Process Mmanagement activities – design, execution and monitoring.

1. Design

Designing BPM involves capturing the existing processes in a business environment. These processes must be modeled in a way that they can be simulated and tested. Modeling these processes usually involves graphical representation methods that document the processes and stores this data in repositories.

2. Execution

Traditionally, to implement automation in a business organization, developers would have to be contracted to develop applications that automate certain processes. Unfortunately, the scope of these projects was often too narrow. The result of which is that the automation is not well integrated into the business environment since the automation only deals with a particular department or function. BPMS champions a method that pushes for the development of applications that encompass the entire business process. It aims to fully automate the business environment only stopping to query the user when human intervention is absoultely necessary.

3. Process monitoring

Process monitoring involves observing and taking note of the performance of the individual processes so that evaluation and intervention become more straightforward for the business organization. From the information gleaned from here, the business organization’s leaders can make further decisions on the direction the business process takes. The data from this activity can be used to generate different kinds of statistics that are necessary when having to make critical decisions. Business Process Management is an iterative process.

4. The Future

Although BPM strives to automate the mechanical processes of a business, there has been interest in developing BPMs that move into the territory of human judgment. Some of the processes involved in a business environment are not included in the automation because some sort of human decision is needed. With the growing complexity of information systems – especially studies into decision support systems and artificial intelligence – some human decision-making processes can actually be automated. This is the future goal of BPM, to futher automate previously unautomatable processes.

- The Business Process Management Ideals

In 1920, Frederick Taylor outlined three waves of business ideals in managing processes. These waves represented the ways of thinking business process engineers had.

Wave 1. Processes Set In Stone

They are secured in business policy manuals. The manual is the basis of the process, and the organization has to abide by it.

Wave 2. Processes Changed Once In A While

Using a one-time activity, changes can be made. This means that the business would have to build their processes around a fixed system since change can only come once in a while, and at a great cost.

Wave 3. Processes On-The-Fly

The primary consideration in such systems is flexibility to change. Businesses that adhere to this goal create business environments that can adapt to its changing needs. This setup also allows the business to constantly fine tune its operations. This wave is not about business-process reengineering. It is about maintaining an environment that is constantly on its toes, ready to adapt to the circumstance, and maximize its strengths while downplaying its weaknesses.

Change is the only constant, they say. In this modern day and age, this could not be truer. The survival of a business could very well rely on its ability to constantly tweak its processes according to the whims of change. With the growing body of knowledge concerning Business Process Management, the path towards a sustainable market advantage based on a streamlined, flexible business organization can only get clearer.

When people put up displays of flowers in their homes, it makes rooms more inviting, lively and fragrant. The same is true of flowers in the workplace. Placing colourful arrangements in reception areas crucially contributes to the critical first impressions of a company, as flowers can bring individuality and interest to an environment which could be boring and lifeless. Clients arriving into an office decorated by lively and attractive floral arrangements are more likely to feel welcome and at ease, and to be impressed by the attention to detail. Decorating using flowers can promote a friendly atmosphere, or even highlight your company’s creativity and individuality by making use of more unusual or dynamic displays.

Not only can flowers add beneficial first impressions to a company and its environment, but they also have important effects on mood more generally. The visual attractiveness of floral arrangements put together by talented professionals is probably the most obvious impact flowers can bring. However, the value of flowers is not only limited to their decorative appeal, but also has a dramatic consequence on emotional well-being.  Having flowers around is a simple but effective way to alleviate anxiety or stress, encourage feelings of relaxation and boost our general emotional and mental health. The atmosphere created by floral arrangements activates, for many people, a more heightened sense of satisfaction in life, and increased interpersonal communications, both of which can be translated to more positive personal relationships. In consequence, visitors to your office will benefit from the happy and positive environment created by the introduction of flowers, as well as the visual display they can create.

Perhaps even more importantly for the workplace, the positive effects of flowers can be translated into a more productive workforce. Scientific studies carried out at Texas A&M University and NASA have discovered an important correlation between the positive emotional impact of flowers on business environments and the innovation and creativity of employees. The research demonstrates that idea generation, creative performance and problem solving skills improve substantially in workplaces that display fresh-cut flowers and plants. The discovery that people are capable of generating more ideas and original solutions to problems in office environments that include flowers and plants has considerable worth to those aiming to maximize their business’ capacities and profitability. In the context of today’s competitive economy and business markets, this could provide your business with a vital edge.

So flowers can have a dramatic impact on the workplace, in terms of decoration and that crucial first impression, but also in regards to inviting a more positive mood and thus creative and productive environment. With such a recommendation of the positive effects of floral arrangements, no one should ignore this simple and effective way to improve their office environment, the impressions given to clients, and their overall business. Online ordering systems, such as those offered by The Florist Ltd, make it easy to order flowers for delivery to anywhere in the UK. Just visit www.thefloristltd.co.uk and transform your office space with their stunning, high-quality arrangements.

Change the ultimate evil, every individual need to keep up with the neccessary change to learn and constantly adopt to the changing environment.

Same is true for a business enterprise with time the form and nature of business all over the world have underwent drastic changes. The flexible enterprises which were able to adopt themself to the changing business environment ultimately survives and flourish rest all ceases to exist and meet the ultimate aim of Profitability.

The nature of changes whcih create an impact on business are majorly categorized into two broad category : Macro envioronment  and Micro Environment impact.

To vizualize the changes in the business of present days and those which exist around a century back. Century back the functioning of the business were totally different from those of today in all the aspect but what remain constant is the ultimate aim of an enterprise / business.

Considering only the nature of change in the business of a travel Agent or travel company. Previously the travel agents way of functioning was more or less of a contractor and the professionalism in serving the clients/ customer was not a major consideration as there were small agents and they userd to serve the specific type of travel requirement.

Now completely the big travel agents with consolidation of power and better ability to serve beyond a location have emerged and the services offered nature have formalized and professionalism in dealing is the focus to sustain in this competitive environment.

This competition have emerged due to emergence of big players in the sector with more power which lead to enhansed negotiating power from the actual vendor from where the service is directly availed.

Also the emergence of competition in travel sector is due to enterance of many other players into the air sector which lead to competition in the air industry and monopoly situation prevalent previously was taken over by the market competitions leading to correction and slashes in the air fares and launch of other promotional schemes to luree the customer.

This phase marked new era where in the air travel became accessable to normal persons by the lauch of Low Cost Airlines.

The travel agents who adopted to the competitive environment and adopted the technology for smoothening the business to enhanse the experience provided to the customer ultimately survived. Many small travel agents vanished or ceased to serve or provide services to the customer as the bigger player were able to provide same services to customer at lower rates with more professionalism thus margins of the intermediary agents slashed and the profitability declined to higher linit for the same.

Many cost cutting strategy adopted for reviving the business and sustain it in new changing environment or few adopted Strategy of Differentiating themself from the consolidated player by providing value added services to enhanse experience and thus able to sustain the change.

Every business have undergone change with time whether its a small or big or any type of business- what varies is the degree of change adopted and its nature.Change is bound to occur and its global phenomenon for individual and when we talk of business its group or a team working in same direction to lead to ultimate result definately its obvious the change will become unavoidable.

As team perception and way might deviate to lead to ultimate result so change in working is bound to be the basis nature of change existing in a business enterprise.

” Ultimate success of business remain in the flexibilty for adoption in every changing business environment”

When you find yourself making the move to the small business environment it’s vital that you learn the lessons of business when looking into how to advertise your home business. One of the greatest resources which have been discovered in helping the small business movement has been found through the internet and the several resources it can provide at very low cost. Although accompanying this low cost opportunity is the creation of one of the most highly competitive environments found in the history of business.

This high level competition generates a new demand on small businesses to use their best resources available to advertise a home business. There is no shortage of customers when working in the global environment, however when you compete against hundreds of other businesses the small business with the best advertisement resources would seize the larger portion of that global clientele.

This leaves businesses questioning the very best way to advertise a home business in order to not only save cash but discover effective resources. The reality is there are several opportunities available to a person regarding this pursuit but it starts with a basic understanding of the on-line environment with reviewing advertisement samples.

Several on-line patrons turn instantly to the banner styles of marketing mainly due to the familiarity it offers with traditional physical marketing and its the most common form of advertisement samples. The internet does provide many opportunities regarding this marketing strategy with advancements which help you to target your specific clientele and track the success of each individual advertisement. Of course the opportunities to advertise a home business have developed far beyond the restrictions of banner marketing.

One instance of this is found with search engine optimization and the opportunities that are created with this procedure. With search engine optimization a company regardless of size can improve their opportunities to be found on-line when consumers conduct searches which are relevant to the keyword used. This is not an easy task to achieve for a company placing a demand on a business to seek professional assistance to efficiently advertise a home business.

Environment scanning-it is the process of collecting information about forces in marketing environment; environmental analysis-it is the process of assessing and interpreting the information gathered through environment scanning; environmental diagnosis- it is the process of making decisions by accessing the significance of threats and opportunities. The following are importances of scanning marketing environment:

To understand elements of the environment.
To observe and understand the changes which are occurring in the environment.
To analyze market situations
To fit the organization properly into the environment so that effective strategies can be developed.

Any person venturing into any kind of business must be aware of his/her business environment. It is therefore very important for business to be positioned and be designed in a way that its image is in distinctive place in the market. It must thrive to provide best quality, best service, best value, lowest price and more advanced technology. When a business understands its environment correctly there is no doubt for it to achieve success and become profitable throughout its running.

SWOT analysis is an overall evaluation of a company’s strengths, weaknesses, opportunities and threats. It involves monitoring the external and internal marketing environment. SWOT analysis assumes that organization will achieve success by maximizing strengths and opportunities and minimizing weaknesses and threats.  It is very important for a company to indentify its weaknesses and opportunities as the information provided will help in informing the managers of the company on the various developments in the external and internal environment that have taken place. Also it leads to improved organizational performance and the company can also be in a position to framework its current and future positions.

A SWOT analysis is a procedure for identifying and examining opportunities and strengths, weaknesses and threats facing the business. It gives insight into company’s position in the competitive arena. When carrying out SWOT analysis to determine how you rate against a competitor, the following should be used (Kottler,2002)

Strengths –consider your company’s strong points, this should be both from your own and your customers, don’t be modest but be realistic, consider distinct advantages that your company offers; what customers say, do they enjoy doing business with you; is there anything you currently offer that cannot be copied by a competitor now or in future.

Weaknesses-evaluate your company weaknesses, not only from your own perspective but also from your competitors.

Opportunities- consider the areas in your market that offers a room for your company to grow; opportunities can come from changes in technology and markets on both broad and narrow scale, changes in government, policy related to your industry, changes in social patterns, demographic and customers lifestyle changes.(Lydon,2005)

Threats-although we don’t like to think about them, we all face threats in our businesses, many times they are out of control e.g. downturn in the economy, shift in market demographics or perhaps a new mega corporate opening in your local area.

After the research was conducted on telemarketing, the following threats and weaknesses facing it were found:

Lack of experienced personnel.
Inadequate fund for them to promote their services.
Change of technology which requires them to train their employees now and then.
Demographic changes of their target customers.

Equally they had some opportunities and strengths that have held them up high on their market, they are:

They have strong brands that sells world wide.
They have employed penetration method of pricing.
They have very strong sales team.
They have corporate image all the whole world.

To maximize their profit telemarketing industry should apply the following strategies to run successfully, they are:

Marketing planning-this involves overall strategies of marketing that helps company achieve its overall objectives. It is a tool for improving performance and it leads to development of standards for control. Marketing planning will help this industry to instill discipline in time and the management team will have a control mechanism for detecting future problems. Marketing planning provides on opportunities and threats, weaknesses and strengths of accompany. It works as a warning mechanism by making a company alert and sensitive to the environment.

Marketing communication-this involves communicating to the target market basically to inform about the product and influence them to buy their products. Marketing communications creates awareness of the existence of a product; and remind and reassures the customers so that decision they make while buying a product is effective. By communicating to their customer’s a favorable climate for future sales is created and competitive difference through careful choice of word.(Gelb,2003)

Use of promotional mix-this comprises of five elements, advertising, sales promotion, personal selling, public relations and direct marketing. It is also necessary to conduct marketing audit, this involves comprehensive, independent and periodic examination of a company’s or business units, marketing environment, objectives, strategies and activities with a view to determine problem areas and opportunities. It is a plan of action to improve the company’s marketing performance.

In today’s dynamic business environment you’re either Growing or Going…out of business that is! If you’re part of the latter contingent and have made the decision to get out of a business but are unable to transition your business internally or sell it as an intact entity, full or partial liquidation of assets may be an appropriate exit strategy. Asset liquidation can provide quick cash and assist in diversifying equity. However, before you terminate your lease, sell a key piece of equipment, or disconnect your utilities, make sure you have a well-thought-out plan.

Getting out of business successfully requires careful planning from start to finish. If you are looking at asset liquidation as a part of your exit strategy, consider incorporating the following recommendations into your plan to increase your chances for success.

1. Talk to your lawyer and accountant.

2. Establish the liquidation value of your assets; remember liquidation vs. retail value can differ substantially.

3. Identify the best venue and timetable to sell your assets.

4. Arrange the sale at the most appropriate location with an expert.

5. Use a non-recourse bill of sale.

Understanding and incorporating these steps into your exit plan will not only help you recover as much money as possible, they may also help you achieve the freedom needed to pursue new endeavors.

It is important to note that the recommendations discussed above are intended to serve as a general overview to assist with the asset liquidation process. It is not a substitute for case-specific advice that only your lawyer and/or accountant can provide. Also, depending on the situation and necessity of business divesture, the cooperation of creditors may need to be considered. Cover your bases and talk to the experts before liquidating any assets that may be in question.

Initiate the process by preparing a current inventory of your business assets. Include photographs, serial numbers and a brief description of the condition of each item if possible. A thorough inventory will save considerable time and expense as you navigate the sale process and can be invaluable if you are asked to provide documentation for creditors or the Internal Revenue Service.

Next, start preparing your assets for sale. To elicit the best offers, take care that you do not diminish the appeal of your most marketable items by lumping them in with outdated or worn-out equipment, furniture or inventory. In most cases the most lucrative value of these lesser items may be in the form of a tax deduction, so why not donate them to an appropriate charity?

Finally, don’t overlook your intangible assets. For example, is your lease assignable? Are the business licenses, permits, patents or trademarks that you hold in demand? Can they be transferred? Is there a market for your customer list, contract rights or accounts? You may need to check with your attorney or accountant to determine what information and agreements are transferable but once cleared these types of assets can also provide a substantial return.

We Buy Your Business (WBYB) provides cash offers for all assets in order to assist in the liquidation process. Please contact your WBYB representative for more information at www.WeBuyYourBusiness.com

Because outsourcing has become available to small business owners and online professionals, you can now expect the same level of scalability, efficiency and cost savings that exists in other well-managed businesses that leverage outsourcing.

According to a report titled “Global Sourcing Trends in 2009” by U.S.-based law firm Morrison and Foerster:  Most outsourcing transactions intend to produce immediate improvements to the bottom line for businesses. While this is a common reason to outsource, with fluctuating economic times like we have been experiencing lately, the flexibility to scale up or scale down (based on the business’s needs) has been the determining factor to outsource.

Smart executives are using outsourcing to build flexibility and scalability into their businesses—and to gain access to a global pool of skills at competitive cost.

The recent economic downturn led many companies, especially those who don’t have existing outsourcing contracts, to consider outsourcing. But companies who already have outsourcing agreements are re-evaluating their outsourcing decisions to find providers that offer more business continuity and integration.

In an environment where Fortune 500 companies have disappeared overnight, a successfully executed outsourcing partnership could make the difference in a company’s ability to ride out these challenging times. The flexibility to bring on needed help and expertise in times of growth – without committing to a project contract or adding people to the payroll, has been an invaluable solution to the small business owner and online professional. In addition to providing scalability, this also allows the owner to focus on core competencies of the business.

Outsourcing provides businesses with instant scalability and service flexibility, as well as reducing overhead costs.  One of the major advantages of outsourcing is that companies can now get the best from new developments without the expense.

In terms of new technologies, new processes and new ways of doing things, you don’t have to invest to do that in-house.  Outsourcing is also particularly beneficial for new businesses, or those looking to expand their operation. This includes those who do not necessarily know what hardware or software they will need.

Outsourcing providers with more experience should be able to advise companies about where to spend their money, so that they do not waste time and resources.

Any hesitation to outsource may be affecting your company’s chances to effectively scale for growth in this highly competitive business environment. As a small business owner or online professional, carefully consider your outsourcing partner when looking to expand your business and make it globally competitive.  When considering a company for outsourcing, make certain that they are equipped to handle the ebb and flow needs of your business when scaling up, and when scaling down!

Sri Lanka is a rapidly growing nation in the Asian Region with the GDP growth of 8%. After the end of 30 year ethnic conflict it is heading to an era of prosperity and development. However, when it comes to starting a business in Sri Lanka, it has been a tough task. Especially those who start from the scratch level have to face a lot of challenges before they start to run. Recently we show a rapid growth in start-up businesses in Sri Lanka, especially in IT and Tourism Sector.

Starting a Business in Sri Lanka has to be done after a great deal of research. If you are a foreign investor it’s better to come through Board of Investment (BOI) which is the government authority for Foreign Direct Investment (FDI). BOI can help you in many ways such as giving lands, technical supports, making links with other government bodies, marketing helps, market information etc… Step 1 – Registration There are three categories where you can register your business.

01. Proprietorship

02. Partnership

03. Company

a. Private Limited Company

b. Public Limited Company

c. Limited by Guarantee

According the Company act of 2007 one director can be in the board of Private Limited Company. It gives the flexibility of starting a company only with one director. To start a Public Limited Company (PLC), particular company must have issued share capital.

Step 2 – Tax Registration

Once you done with registering your company registering with Tax authority should be done. There are two general types of taxes have to be paid by all businesses and many different taxes should be paid according to the industry you are in.

2.1 Value Added Tax(VAT); Sri Lanka’s VAT system is same as UK system. VAT registration can be done at Inland Revenue Department (www.ird.gov.lk). VAT department is located in 3rd floor of IRD Head office. 12% VAT is applicable on all types of products and services.

2.2 Business Turn over Tax (BTT); 3% BTT also should be paid on all types of products and services except few. See www.ird.gov.lk for more info Step ]

3- Setting up your business location

Finding a place is very easy since there more place to be rent out. You can easily check out some Sunday papers to find the best place. Or you can directly contact a real estate agent. Very easy way is to buy the Sunday Times (Weekend English paper) and pull out the classified section HitAd, you will find more places. Other way is to find a place, just type “Office rent in Colombo” in Google.

Step 4 – Website, Email and Phones

Cost of Web designing is very less in Sri Lanka. You can develop a site by investing just 100 dollars. It’s that much cheap. Check out a very hot deal from Printonline.lk, the fist ever online printing company in Sri Lanka which gives a host of services for start up businesses.

There are three fixed line phone service providers and five mobile service operators. If you are looking for a cost effective communication method try Sri Lanka Telecom (sltnet.lk) or if you want a total communication solutions check out lankabell.net or suntel.lk. They more hot deals to suit your requirements.

Step 5 – Finding a Bank

There are about 23 commercial banks are in Sri Lanka. Intentional banks are HSBC, Standard Charted, Citi Banks, Overseas Bank of India, Indian Bank and ICICI. Local banks are Hatton National Banks, National Development Banks, NDB, Nations Trust Banks, People’s Bank, and Bank of Ceylon etc…. If you are in import export business better to find a bank with a strong international links.

Step 6 – Advertising and Marketing

One every thing is settled; start to promote your business. Set an advertising plan, find your target market and start your campaign. There over 50 news papers and magazines are in Sri Lanka and over 15 TV channels & radio stations. TV adverts are little bit of expensive than radio and press ads.

If you starting draft some articles and send to media out-lets. It’s an easy way to bring the message properly. We are done If you are done with all the above six steps you can start make money in Sri Lanka. If your idea is creative and totally new Sri Lanka making money won’t be a big issue.

Unfavorable factors in Sri Lankan Business Environment

Since Sri Lanka has a higher literacy rate it does not mean all Sri Lankans are well educated. But there are educated up to a certain level. People who live in main cities like Colombo and Kandy are well educated and they have a higher purchasing power. This would limit the expansion of your business.

Most of Sri Lanka business people are not trust worthy. We strongly advice you to write whatever the deal you make. Whenever you make some contracts put it in writing it will help you avoid unnecessary troubles in future. Be strong in getting payment. If not you will waste a lot of time in following up with your clients and paying a visit to their office.

Keep an eye on political situation and try to fixe some appointments with key political figures.

Help and support

Check out the one stop entrepreneur solutions package of printonline.lk, they can help you to build all the necessary foundation at a reasonable cost.

Visit: http://printonline.lk/Entrepreneur_Pack.html and see how they can help you to put the necessary foundations.

In this New Year, try to look back and see what you have done to influence the market. Ask yourself if you have lost your competitive edge in any way. Is it that your competitors introduced a new product thus influenced the market. Consider whether you have lost any good performing employee to your business rival and find out why he left.

To ask yourself the above questions, will greatly help you know whether your customers are jumping ship and what you need to do to gain back their confidence. It will also assist you in attending to the needs of your staff and hence ensure a favorable working environment. Overall, conducting a market research will tell you whether you are trailing or leading in your area of business.

Also, once you get the results of the market research, then you can draw a business strategy that will seek to address all these issues, thus ensure business growth. In addition, you will be able to allocate resources prudently to areas that need more attention.

If well implemented, a good business strategy will help you cancel out your competition. As you work out your business strategy also realize that your business rivals are doing the same hence have structures that ensure information of what you intent to do will not link out.

With that being said, it is important to decide what type of market you are planning to enter. If you already have a plan then you should observe the market properly to see the amount of competition out there. If the market that you are planning to enter is very competitive then you should give it a second thought. However, if you do not have a plan or you’ve just planned to start a business but not sure what type of business then you should probably survey the market properly before making a decision. Try to penetrate a market with less competition and with a potential to succeed.

You may have found the right market to enter and you have everything map out according to plan. However, do you have the capital necessary for you start your business? This is another important aspect of business. However, the amount of capital required is depending on the type of business you are planning to start. If you are just intending to set up a burger stall then the amount of capital required is very low. If your plan is to set up a boutique then your capital would be high. Without the amount of capital required it is impossible for you to start your business.

Another thing to look out for is the connections. Yes, you are able to start your business but where are all you going to get your supplies? Therefore, it is important to look around for people who are willing to supply goods to you. However, finding a supplier may be easy but finding the right one might be hard. Some suppliers are willing to supply to you at a cost higher than the usual price. They might take advantage of you as you are new to the business environment. Therefore, it is important that you find the right supplier. Do some research to gain information on which supplier to go to. It’ll keep you off trouble.