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 […]
In any Organization, the BPI initiative to be a success would need to be first understood and owned as well as sponsored by the leadership. The leadership here includes mainly the business unit leaders who become the main sponsors of the BPI program. It is important for the Leaders to understand why BPI is required to be implanted in the Organization, how it is going to help them and how to go about with implementation of the program. More importantly they own the program and they would need to make provisions for the required resources and budgets to ensure that the program is successful.
With the above understanding the BPI program should kick off with a Management meeting or workshop and an Executive Implementation Team comprising of the leadership and management should be formed. At this stage it is very important to run the entire management through a detailed presentation about BPI in terms of concept, methodology and the results. The management team needs to be oriented to manage and look at their business from a process point of view and not from an Organizational point of view.
Executive Implementation Team (EIT) team has a very important and larger role to play in the success of BPI program in the Organization. Some of the key responsibilities and functions of EIT may be listed down as under:
It is the Business Unit heads and the senior management who are navigating the Organization in the direction envisaged. They are the ones who are in tune with the markets, are able to assess the future trends and outline the areas where the Organization needs to change in order to meet the external challenges as well as to improve the interface with the Customer. Therefore the EIT team comprising of the Business unit heads and senior management are in a position design and take the Organization to the next level keeping in line with the vision set using BPI initiatives. Once they taste the success of BPI program and the resultant benefits that accrue, then it becomes a habit with the management to use BPI as a tool to edge the Organization forward and strive to reach higher benchmark at all times.
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