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 [...]
The following fourteen key elements that vitally affect the master strategy of a firm need redefinition and/or redesign:- 1. New Markets or Services 2. Predicting Future Demand 3. Supply Related to Demand 4. Climate of Industry 5. Crucial Factors 6. Position in Market 7. Service Abilities 8. Finance and Management 9. Combination of Services 10. Adding to Capabilities 11. Vertical [...]
Read this article to learn about the difference between BCG matrix and DP matrix. Difference between BCG Matrix and DP Matrix 1. BCG matrix considers market/industry growth rate (that is, only one variable) whereas DPM considers number of variables. 2. BCG matrix is concerned with relative competitive position (which is usually expressed as a business's market share divided by the [...]