Introduction Benchmarking is a strategic approach of evaluating a set of customer-focused organizational processes, activities, and products/services, with other internal business units and externally with corporate entities in the same industry or in the broader marketplace. As a strategic management tool, benchmarking exercises provide the “why” and “how” behind an Read more…
Introduction Kaizen is the Japanese word for “improvement,” and in business activities, Kaizen describes the structured analysis activities supporting continual workplace improvement that involve all employees. The goal of Kaizen is proactively improving work processes and operations to eliminate waste across all organizational boundaries without regard to silos commonly found Read more…
Information A PEST Analysis (Political, Economic, Socio-cultural, and Technological) is a brainstorming and analysis method for businesses to assess critical external factors that influence their operation and market competitiveness. The four PEST factors define the big picture of where the company is currently situated and future operating environment in comparison Read more…