BSS004-1 Using Data to Build Business Practice Assignment Sample 2023
Comparison between South East Region with North West Region
Understanding patterns of Business barriers
For every business, there are some barriers to stop the success of business activity. To avoid those barriers some analytical process are expected from management. These analyses are used to find out the genera barriers in business. Those barriers are physical barriers, perceptual barriers, Emotional barriers and Cultural barriers, Language barriers and gender barriers. Understanding these barriers is essential to make the successful business environment.
There are some more barriers are in business such as lack of accessing the finance resources, identifying the appropriate customers for the business, lack of knowledge in marketing, tools utilization and decision making. All these barriers are making complexities in the business process.
Analyzing these barriers can help the business process for finding the solution. Various analytical results showed that the effective use of finance resource for business. This can help the organization to take necessary steps to utilize the finance resources. But, the analysis must be done with the strong possibilities for finance utilization.
Finding the right customer for business can increase the profit for business. But this is the most difficult process in a business. Analyzing the customer requirement is more important to satisfy the customer. This can help the organization to provide the required service to maintain their customers. The general analytical methodologies are not enough to understand the customers. Finding the effective analytical process is more essential to find the customer needs.
Proper utilization of tools and innovative strategies are expected to get success in the business. But there are some difficulties in the finding of tools and appropriate methods for making the effective business process. The finding of marketing strategy can increase the customers and sales of the business products.
The general comparison of south east company with North West company highlighted that the marketing methods strategies are powerful than the North West companies. The south east companies are using powerful methodologies in marketing and innovation process in business activities.
The decision making is the powerful process in the business. Most of the important decisions are taken with the help of strong analytical methods. Based on the reports form analysis, the decision will be taken by the organization. Mostly, all the data are involved in the process of analysis to find out the important point. Based on the report highlights, the strong decisions can be taken by the organization.
The south east companies are efficient in decision making when compared with North West Companies. Most of the companies are providing their analysis reports based on the communication and cultural barriers. The communication barriers highlighted the understanding difficulties because of different pronunciation of language. To avoid these, local translators are needed. The cultural barriers are focusing the difficulties of various behaviors in a particular region. This can be helpful to understand the various cultures of people which are related to make business decisions. But there are more number of cultures followed by people. There is no effective method is utilized to understand all the cultural differences.
Physical barriers are used to highlight the environmental difficulties to make communication. This is used to highlight the system problem to provide the communication facility for business activity. The design problems and technical problems are comes under this physical barrier. This physical barrier is based on some components like time, cost, climate and speed etc. Analyzing these entire components to avoid the physical barrier is more difficult in the business activity. But this analysis is mostly required to solve the physical barrier of a business.
Organizational barriers are the other type of barriers which is related to the organizational structure and activities. These are the internal barriers of business environment. These barriers are used to provide the information about the difficulties related to the rules and policies of business process in the environment, Positional problems, facilities problem and complex structure problem. Understanding all these problems is important for business growth. The rules and policies are different based on the laws in the country. Some countries are providing effective law to make the convenient business rules, but some countries are not flexible to understand the business laws. Analyzing these differentiations before starting the business is essential for organization.
Complexities in the organization structure can stop the effective decisions for business. The decision making process is based on the organization structure. The flexible structures can make the convenient process for business activity. The complex structure cannot handle the emergence situations in business activities.
The barriers of business can affect three main sustainability of business. Those are Economic components, Environmental components and Social components. All these components are more important for every business activity. Avoiding all the barriers can provide benefits to these three components. Understanding all the barriers are not an easy job. The effective analytical methods are expected to provide the solution for this problem. Based on these analyses the expert team can provide different solutions for particular problem. All the solutions are analyzed before they are going to implement. Based on the situation the effective methodology is selected to handle the business barriers.
To handle the different barriers, some components are widely used. The long term thinking process is expected for avoiding the risk in business. The improved management strategies are expected to handle different business risks. The best analysis is expected to understand the old business models and the new business models. The innovation adaptation is essential to provide successful business activity. The competitor analysis is also more useful to the organization for understanding their strategies. The strong business network is essential to make the effective business. The better risk management processes are needed to handle all kind of uncertainties in business. To understand the market situation and economic condition is more essential.
All the barriers are strong components which affect the successful growth of the business in the world. The south east companies are strong in their business by using best strategies and analytical methods to handle all these barriers.
Findings:
To understand the all the barriers in business, the effective analytical tools and techniques are used. Most of the organization used some effective methods for analysis known as SWOT analysis, MOST analysis, Process Modeling for Business, Use Case Modeling, PESTLE Analysis and requirement Analysis. All these techniques are powerful to provide the strong analysis in business activities in the organization. Different case studies are used for business analyses which can helps to handle the difficult situation in business (Delvin Grant. 2016).
Different analytical methods are used to make the effective investigation for successful business. Mostly the analytical models are used for decision process, descriptive process and predictive analysis process (Dinesh E. 2016). For making all these analysis, various business domain are selected.
The analysis can be useful to understand the financial services, marketing strategies, Price fixing for the products, retail and whole sales process for products, supply chain process and telecommunications etc. These domain analyses are needed to get deep understanding of business process and its difficulties. The Financial service analysis provides better finance resource utilization process for business. From this process, the organization can understand the best investment strategies and finance utilization methods. The financial constrains can be solved with the help of analytics in financial services. Marketing analytics is used to provide the details for product launching sales strategies in the global market. This can also give the additional information about the relevant products in the market which can affect the sales of particular product. This analysis provides better focusing in the market with the help of new trends for marketing. Price fixing for the product is most important for business process. Considering the development cost and profit are more essential for fixing the price. The sales of products can be done with two different types. The whole sale process can provide better sales of products in the market. The retail sale analysis provides the customer opinion about the product. Their choice of products can decide the success of sales (Stuti Haldar. 2019). The marketing strategies are playing a major role in whole sale and retail sale process. The supply chain process analysis can be helpful for the business organization to provide the quality product. The product products and distribution is depending on the supply chain process. This can be used to provide the innovative technology adaptation for production. Telecommunication is the major process which can used to make communication process in business. Using the advanced telecommunication process, the business activities are done with effective manner. This will be helpful to share the information about the business process. Using this telecommunication process, the customer can deliver the feedback and request related to the business service. This will be useful for the organization to improve their standards (Igor Jurcic. 2016).
The Main highlights for this analysis is understand the business process form various domains and innovative technology adaptation. This will be useful for the organizations to understand the different barriers and solving methods to make the effective business process. The different barriers based are analyzed and the handling methods are discussed. The comparison is based on several factors like growth, difficulties handling strategy, technology adaptation etc. The different marketing strategy can be used for efficient product launch and sales. The comparison showed that the innovations in marketing can be adapted highly by the south east companies than the north west companies.
For every business, customers are the most important. Maintaining customers and understanding their needs are essential to make the successful business products. The long term focus in business process can avoid various uncertainties. The main consideration for long term business is a better planning and mew strategy to attract the customers. The employment opportunities of the business organization are also compared to analyze the growth.
Recommendations
The different analytical tools are preferred to conduct deep analysis for understanding the business activities and difficulties in the business (Susan Turner. 2017). Using some enhanced strategies can improve the business process. This will be useful for both small scale and large scale industries. The selection of business strategy can be influenced by different features such as leadership style, network, personal characteristics and business challenges. The financial conditions and market plans are the major factors in the decision of strategy selection. Based on these factors the effective methodology can be selected. Research methods and research plans are needed to understand the business environments and the operations for business activities. The research design includes various case study methods for analyzing the global effects and barriers in business. This case study highlights the different situations and market conditions for business and the possible solutions for handling the complex situations. The initial challenges and the sub-sequent challenges are discussed in the case study. This will help the organization to understand the uncertainties of related activity. The methodology selection is more essential for handling the barriers. The advantages and the disadvantages of selected methodology can be discussed. Based on the situation, the organization can select the method for handling business barriers (Julius Tapera. 2015). The strategic management is one of the important processes for business. This planning is used to provide some development strategies to the organization. The strategic management provides two different sectors for managing the strategy. Those are strategy making and strategy execution. Strategy planning is used to analysis the issues in the business process and providing solution for current issues. This will be useful for the organization to make the different strategy to overcome the selected barrier. This strategy planning is used to focus the future business process with effective handling of business risks. This strategy planning helps the organization to make the decision for handling the risks. Strategy execution is the main part in strategy management. The execution makes the flexible process for handling risk and overcome the targeted barrier (Doruk Sen. 2017).
The balanced score card approach is the suggested model for effective business activity. This is used to handle the problems in business. The focus of this balanced score card is the analysis of small scale and large scale industries. This is used to adapt the new technologies for problem solving process. The different sectors are analyzed with this balanced score card approach (Álvarez 2015).
The strategic management is used to focus the vision, mission and objectives of business organization. The strategic planning is used to provide the critical thinking facility for the business process for barrier handling. The strategy execution is used to decide the priorities to handle the problems and determine the actions for barrier avoidance. This strategic management provides two different benefits to the organization. Those are financial benefits and non-financial benefits (H.K.S. Hanasini Athapaththu. 2016). The financial benefits consider the cost saving and cost effective process of business. The Non-financial benefits are used to highlight the productivity plan for competitor companies. The effective framework will be designed to handle all the business activities to avoid the barriers. By using this strategic management process the business organization can get more benefits.
References:
Bibliography
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