Top Ten Things About Creating a Business Vision

To visualise where you are going, is deeper and more sensory than anything you have ever done before. A clear, focused Vision is most effective thing a leader can have, and most useful item he or she can share. With his or her people. Here's how best set about it easily.

To visualise where you are going, is deeper and more sensory than anything you have ever done before. And these are skills of those who are able to create a vision you can really live and breathe. These people...

1. Are Focused

   They are able to visualise in a focused and very clear way what 'perfect' will truly look like in future.

2. Involve Others

   Bring others into contribution, such that they might try things they might never have before.

3. Realise Core Strengths

   Whilst being ultra-keen to grow and evolve, these people are true to core strengths of organisation and see future through that.

4. Take Time Out

   Make time for themselves and help others to free up thinking room. And use it fully.

5. Play Game

   They encourage a creative environment and take full part personally. They themselves set out to find ways of generating novel and fun ways to make this live.
   
   

Business Intelligence 101

The goal of every business is to be successful by gaining new customers and retaining old customers. A crucial way of achieving this end is through “Business Intelligence.” Business intelligence is also known as simply BI. Business intelligence can be defined as a process of collecting information in area of business. An essential idea of business is that data is enhanced into information and then into knowledge. Business use BI to gain an advantage in marketplace by understanding their customer’s needs, customer’s decision-making processes, and economic, cultural, and technological trends. Business intelligence involves analyzing not only customer but entire industry as a whole. Finally, business intelligence is driven by a goal set by company. The goal can be short term or long term.

History of Business Intelligence

Business intelligence was first referred to in Sun Tzu’s “Art of War.” Tzu claimed that in order to win a war you had to have complete knowledge and understand of your strengths and weaknesses as well as those of your enemy. This is core idea behind modern business intelligence. A company must know itself better than anyone else, and know its customers and competitors better than anyone else. It is ironic how much business and warfare are alike. In BI, one must sift through heaps of data (both external and internal) for management to then device strategies for marketing and where to take business.

Key Performance Indicators

In BI, present state of business is assessed by use of Key Performance Indicators (KPI). Data is becoming available to businesses faster as more organizations implement KPI. In past, data was available after one or two months, which did not help businesses adjust their strategies in a timely manner. More recently, however, banks have tried to make data available sooner and with shorter intervals, especially for businesses that have higher operational/credit risk loading (I.E. wealth management and credit cards). Some companies can get data weekly, which helps them adjust their strategies more efficiently than ever before.