Business Remodeling: Exploring new Initiatives in Key Business Functions
Company values matter. Every successful company has a set of company values to assist their employees in achieving their goals as well as the company’s. They are the essence of the company’s identity and summarize the purpose of their existence. Company values are a guide on how the company should run and they are normally integrated in the company’s mission statement. Companies should try to establish their company values as a team instead of just the leader or management. By doing so, everyone in the company would feel belong and they would feel needed and not neglected. A business has to perform a number of functions in order to achieve its objectives. One of the major functions of business produces goods from raw materials. Similarly transporting goods from place of production to the market is also another function of the business. Innovation is inherently risky, to be sure, and getting the most from a portfolio of innovation initiatives is more about managing risk than eliminating it. Since no one knows exactly where valuable innovations will emerge, and searching everywhere is impractical, executives must create some boundary conditions for the opportunity spaces they want to explore. The process of identifying and bounding these spaces can run the gamut from intuitive visions of the future to carefully scrutinized strategic analyses. Thoughtfully, prioritizing these spaces also allows companies to assess whether they have enough investment behind their most valuable opportunities and remodeled their key functions to achieve fruition.
Keywords - Business, Remodeling, Operations, Market, Initiatives, Pidilite, Fevicol