Business Process Management – What Do You Need to Know?
It happens all of the time. Business changes, and they close, business process changes, and it needs to change. Often I am hired to help those who want to close their business and they are looking for help in the types of things they should do to shut it down. Other times they are looking for new ideas and business process management, as they just weren’t profitable. Sometimes they are being bought out, and they have other needs. My company was hired several years back just to assist on mergers and acquisitions, and assistance with due diligence on evaluating business that they were considering acquiring.
So what about businesses that are about to close because of the current economic times? What business process changes were looming? What about changes to the business landscape that companies just didn’t consider. Think about what Amazon has done to the book industry. There was a great problem, and they just solved it – they wanted to allow people who wanted niche type books to have a market place and also people who couldn’t get what they needed fast enough faster.
What about the authors who wrote niche books that couldn’t find a market big enough to justify writing their book, and what about people who lived in remote areas that didn’t want to travel to the big city just to buy their books. What about the somewhat unscrupulous nature of those on the net, who bought ebooks and simple downloaded them and just resold the content. Content protection is primarily covered by the Kindle or other ebook formats. What about the problem of finding your book translated and sold in a language that don’t obey current copyright laws?
There are lots of reasons Amazon replace the book stores. There are lots of other reasons that bricks and mortar businesses won’t survive? I lost a big chunk of my business because of a conference company who figured out that by creating yet another framework, or using that name to create another method to doing something many others had already done, they could market to government staff who liked the framework and could being involved in the community who created it and then convince their bosses they needed to return to the conference year after year.
There are often times when business process management isn’t done enough. There are lots of reasons business close, or enter services and products are replaced by those who get momentum or have the economy force behind them to build them up and cause you to search for replacements or close. What is coming towards you that you are not predicting, and how much thought do you give it?