Cost-cutting should be a regular feature for all companies, even those that are profitable. Ad hoc measures are not a smart way of undertaking cost-cutting. Standards and procedures for all expenses incurred in a company should be created. For instance, travel...
In the Freemium business model, users only pay if they need advanced (premium) features if they require these to improve revenue growth and transform their ventures. The term Freemium is a combination of the words ‘Free’ and ‘Premium.’ Most users begin a relationship...
The organizational design should reflect an entity’s business strategy, model, and objective. The business strategy, model, and objectives, in turn, are influenced by the competitive environment, technology, and customer need. When the organizational design and...
Organizational restructuring is often a component of business transformation. An organization is a tool or means that helps you achieve a business objective. Organizational restructuring is required when the company needs to re-align and re-design the organization to...
Implementing digital transformation The purpose of business transformation is to increase the competitive advantage of your enterprise’s products or services. The decision to go for digital transformation in a business is to improve operational efficiency. Digital...