Business Development and Change Management

  Go to the Business Development and Change Management Assessment

Your company has a formal process for collecting information on customers, market opportunities and competitors
 
Good, reliable information about your customers, markets and competitors is essential for competing successfully in today’s tough business environment. Considerable information is readily available, but this needs to be routinely collected, verified and stored in a format that is easily retrievable
Key Issues
·         Many companies collect considerable amounts of data, but do not store it in a useful form, so are data rich and information poor
·         The advent of modern information and communication technologies (ICT)has transformed the ways information can be collected, manipulated, managed, stored, retrieved and readily transformed into meaningful reports
·         In order to build a dependable source of information, everyone in the company must assemble the information they routinely collect and save it into structured, searchable repositories
·         This information will come from a variety of sources:
o    Visit reports, following every contact and discussion 
o    Systematic searches of trade journals, newspapers, company bulletins, presentations and annual reports
o    Searches of company sponsored websites
o    Searches of the internet for related information and comment
o    National and international trade shows and conferences
o    Trade organisations and local Chambers of Commerce
o    Universities, institutions, societies and professional networks
o    In-depth industry reviews compiled by recognised experts (usually paid for)
o      Attendance on relevant trade delegations and study tours
o      High level face to face meetings with customers and potential customers
o      Recruitment interviews with people having reliable inside knowledge
o      The views of experienced and knowledgeable salespeople
·         An individual must be appointed custodian of this information and held responsible for preparing and circulating regular summaries of all salient points
·         Appropriate search engines, retrieval tools and training must be available
Factors for Success      
Factors to  Avoid
1.     Senior managers want and value this business information
2.     All information is correct and routinely kept up to date
3.     ICT tools must be available to quickly search and retrieve information
4.     To provide relevant information must be mandatory aspect of everyone’s job
1.     Using unverified sources for making key decisions
2.     Believing everything that is reported and published is true
3.     Expecting ad-hoc information systems to provide meaningful information
4.     Using outmoded paper techniques for storing and retrieving information
Who does this apply to?
Senior managers, their staff and all employees
Realisable Benefits
Good information on which to base business strategies, plans and tactics

Guides:

Business planningBusiness planning

Business planning

The business planThe business plan

The business plan

Selecting future marketsSelecting future markets

Selecting future markets

Drivers for changeDrivers for change

Drivers for change

Collecting informationCollecting information

Collecting information

Sales processSales process

Sales process

Selecting change projectsSelecting change projects

Selecting change projects

Managing projectsManaging projects

Managing projects

Controlling and reviewing projectsControlling and reviewing projects

Controlling and reviewing projects