The following points highlight the three main types of plans that are made to achieve the objectives through the company policies. The plans are:- 1. Strategic Plans 2. Intermediate-Range Plans 3. Short-Range Plans. Type # 1. Strategic Plans : They determine both the major objectives of an organisation and the policies and strategies to achieve those objectives. Strategic plans are [...]
Michael Hammer and James champy defined BPR as "the FUNDAMENTAL rethinking and RADICAL redesign of the business PROCESS to achieve DRAMATIC improvement in the critical contemporary measures of performance such as costs, quality, service, and speed." This definition contains the four key words: Fundamental: Why do we do what we do? Why do we do it that way? Radical: Signifies [...]
In this article we will discuss about the concept and process of benchmarking of a company. Concept of Benchmarking: The concept of benchmarking was pioneered in USA by Xerox Corporation in 1979. Benchmarking is defined as the continuous process of measuring the products, services, and business practices of a company against the toughest competitors or those companies recognised as industry [...]