Why are Companies Constantly Upgrading their ERP Systems?
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
The number one problem with BPM today is that most of the practitioners are unable to understand the system viewpoint. The employees of the same business have conflicting objectives. Therefore a human resource professional may end up optimizing their process, but may have an adverse effect on the functioning of a marketing department. Thus problems are merely being shifted than actually being resolved. A good understanding of how the process connects to other activities and processes will help solve this problem and achieve sustainable progress.
As an example consider a leave granting process in any big organization. There are explicit rules which define the number of leaves that a person can take as well as the procedure to get them approved. Thus although it may look like the manager is taking the decisions with regards to granting leave, all they are doing is following a pre-defined procedure. Thus no matter who the manager is, the decisions will always remain consistent because they are taken on the basis of rules rather than on the basis of who is involved. Such rules are usually laid down as if, then and else conditions in the process.
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